Official BITMINE CoinCraft series 28nm ASIC miners thread

[lossminer]

when I read this old article full of crap about:

- Bitmine was formerly Exion networks, though both companies still exist, and both controlled by MR. Massarotto
- a huge but invisible investment holding with thousands of employees, though no web site, registered in BVI but operating in Hong Kong holding 50% of Bitmine Inc.
- Bitmine building a huge mining datacenter in Asia for 14mUSD
- Bitmine ordered a couple of super computers for extra 12 mUSD each

http://www.coindesk.com/bitmine-to-drop-4phs-of-asic-power-onto-bitcoin-network-before-april/

I start wondering, if the type of people with this kind of imagination displayed in the press release are the same type of people,
that will actually deliver a real product.

What are your thoughts on this?

[1714192833]

1714192833

[Bicknellski]

when I read this old article full of crap about:

- Bitmine was formerly Exion networks, though both companies still exist, and both controlled by MR. Massarotto
- a huge but invisible investment holding with thousands of employees, though no web site, registered in BVI but operating in Hong Kong holding 50% of Bitmine Inc.
- Bitmine building a huge mining datacenter in Asia for 14mUSD
- Bitmine ordered a couple of super computers for extra 12 mUSD each

http://www.coindesk.com/bitmine-to-drop-4phs-of-asic-power-onto-bitcoin-network-before-april/

I start wondering, if the type of people with this kind of imagination displayed in the press release are the same type of people,
that will actually deliver a real product.

What are your thoughts on this?

Chips are real.

Prototype miners exist and are real.

Will they deliver the chips and the miners? Who knows. That is a risk some people are taking.

[SwissMiner]

I'm tired about all the noobs are crying .. with BTC the slogan is still 'no risk, no BTC' .. otherwise bring your peanuts to the local bank .. and earn one percent a year 

[lossminer]

I think the risk would  be high enough still, even if people would not be scammed, cheated and tricked in so many cases.

[Mork]

Risks are one thing, bad communication in a multi-thousand dollar business another one.

When you invest money of that scale with someone, you might expect some basic level of professionalism.
Most of the time, when something is indeed communicated, you can quickly add 1+1 together to know that things just don't/can't add up. It is bad to give someone that impression in a business relationship.
It's odd to get most of the information of customers or other business partners, who thankfully share their information about their private communication with Bitmine here on the forums. It should be Bitmine who is communicating these informations in the first place. They would get much less mails and phone calls that way, as well, so more time for building the miner and posting on the forums.

Well, everyone should have figured by now, that the three weeks delay is not going to happen (which was pretty obvious already, when the delay was announced. It was the best case scenario IMHO). It will be more, shipping is not going to happen till midst of february earliest - if we're not affected by chinese new year, that is (if we are, add another 4-6 weeks).

I'm really looking forward for my miner, though my (pessimistic) calculations have already been completely messed up by the now expected delay and it's questionable if I will get somewhere near ROI, where there was a good chance to make a profit on it, initially. Well, that was the risk I have taken. The miner is real, at least, so that is the most important thing. But very next to it is, to receive it as soon as possible and to get informed about progress and delays, so one can act accordingly - e.g. by doing some additional investments.

The only thing I ask of is a regular and truthful update, to know where we are standing at. With that, I prefer a pessimistic estimation over an optimistic one.
I shouldn't be impossible to drop to the forum once a week at least and give us a short update, no matter where you are. If there are delays, that's the way it is, but please tell us about it as soon as you know it. If there's good news, please tell us about it. If there is no news at all, which is unlikely, please tell us about it.

Again, I am grateful that someone is building that miner for me, as I'm more the software guy than the hardware one. I appreciate their efforts and I think their miner will be a good one. But they really need to improve on their communication, which lacked from the very beginning.

Thank you
Mork.

[georgem]

The only thing I ask of is a regular and truthful update, to know where we are standing at. With that, I prefer a pessimistic estimation over an optimistic one.
I shouldn't be impossible to drop to the forum once a week at least and give us a short update, no matter where you are. If there are delays, that's the way it is, but please tell us about it as soon as you know it. If there's good news, please tell us about it. If there is no news at all, which is unlikely, please tell us about it.

Again, I am grateful that someone is building that miner for me, as I'm more the software guy than the hardware one. I appreciate their efforts and I think their miner will be a good one. But they really need to improve on their communication, which lacked from the very beginning.

I hear you. But that't the thing, they need new orders, the need capital.
That's why the will never admit the real condition of their business, in fear that it will scare away the much needed new customers.

It's a vicious cycle with bitmine.ch everywhere I look. How is a customerprotection plan going to help when it WORSENS the situation for everyone next in line?

It's a mess.

[RetroGamer]

Chips are real.

Prototype miners exist and are real.

Will they deliver the chips and the miners? Who knows. That is a risk some people are taking.



they only have sample chips no original
where are the news of bitmine about it and the promised video
since 31.12.2013 no new messages from Bitmine

[Bicknellski]

Chips are real.

Prototype miners exist and are real.

Will they deliver the chips and the miners? Who knows. That is a risk some people are taking.



they only have sample chips no original
where are the news of bitmine about it and the promised video
since 31.12.2013 no new messages from Bitmine

Our group is working on our boards with the 2 sample A1's we have and we clearly understand that careful consideration has to be placed on the PCB because the sample chips are 'delicate'. Our EE's experience tells him that a Metal-core PCB for the A1s and their buck controllers is necessary and we are hoping with our initial prototype design keep the temps down in the 40s, with air. All this is necessary so as to increase the potential lifetime of the prototype boards using these first run prototype chips. Here is hoping that Bitmine can meet their dates it is not an easy task but chips and miners need to start flowing soon. Minions are right around the corner.

[BuTaJIu4eK]

What day to start counting the 61 day delay

[websmith]

What day to start counting the 61 day delay

Hi, Vitalia. I do not like this thought but it looks like we'll get our rigs in a year or so. Пoxoдy этa кoнтopa клoниpyeт нe тoлькo aвaлoн, этo eщe и клoн бaбoчeк

[georgem]

What day to start counting the 61 day delay

EDIT: The information below is wrong, please see updated information here: https://bitcointalk.org/index.php?topic=291141.msg4972393#msg4972393


First day of your batch week + 10 days for shipping.

[BuTaJIu4eK]

What day to start counting the 61 day delay

First day of your batch week + 10 days for shipping.

ie it is December 13, 2013 ?? 

[RetroGamer]

What day to start counting the 61 day delay

First day of your batch week + 10 days for shipping.

ie it is December 13, 2013 ?? 

No
Production start was the 16.12.2013

[Min€r]

What day to start counting the 61 day delay

First day of your batch week + 10 days for shipping.

ie it is December 13, 2013 ?? 

No
Production start was the 16.12.2013

No it was 3. Dez!

[Tegija]

all the signs are: we got scammed in a certain way. At least I expect it judging by the current information we got so far.
I mean the information they are providing are very fragmented and do prove nothing.

The most obvious thing is, that giorgiomassa answered frequently on this threat back then when the pre-order time was going on and they where collecting money from everywhere. Since it's getting more and more obvious that they can't deliver the devices anyhow soon.
Maybe they never planed to deliver anything. Maybe they are good people and got into trouble what so ever. But since we get no information for weeks, I would expect the worst.

I don't call or E-Mail them anymore because 1.) I don't trust what they are telling at all. 2.) They simply never answered couple Mails...


Just a quote from giorgiomassa from 10th December 2013:

Unfortunately, the production of the silicon wafers used by our chips has been delayed by three weeks from the factory, effectively forcing us to delay the December batch orders. As of now, the January and later batches should NOT be affected by the delay because our production capability is enough to recover the delays.

Soon even the February batch is going to delayed without any new information why, how and what.


Isn't anybody not so far away from the company and could take a look and a talk what's really going on over there?
Unfortunately I am unable to because it's way too far away.

greetings  

you can be very sure that i will be there 24.01.2014. that is the date when they promised to have ready my first rig (with 3 weeks delay). i have email confirmation about this date and i will be there.
more i can't promise, but that will be sure!

[georgem]

all the signs are: we got scammed in a certain way. At least I expect it judging by the current information we got so far.
I mean the information they are providing are very fragmented and do prove nothing.

Let's not forget, bitmine IS a real firm, located in switzerland, with telefon, address and many more things.
They DO really exist, they are also visible in swiss registries, like for example here:

http://tel.search.ch/?tel=0912909099

So a scam they are certainly not.

(Whois of bitmine.ch http://www.whois.com/whois/bitmine.ch )

So stop the FUD. They have delays and they even kinda expected to have delays, ergo the CPP.
But a scam is something completely different.

I am located in switzerland too (St.Gallen), and I might go and visit them, but it will be a three hour train ride (one way, so 6 hours train that day) if someone is willing to chip in some Namecoins oder Devcoins (See my signature)... i might actually do that.
I have been calling bitmine a few times now, and I could imagine doing that. What do you guys think?
I will visit them, and make fotos wherever I am allowed. Can even do an interview of sorts.

[matt4054]

I am in Switzerland and I have a paid pre-order too. So far I trust that they will ship as promised and/or apply the customer protection plan accordingly, so I have no reason to complain. We can reasonably expect an update from them during the week, let's see.

Don't forget that the hash/$ and hash/W is still very interesting on short term projections, compared to the 55 nm generation still selling heavily right now (Antminer and Bitfury). KnCMiner (Neptune) and CoinTerra are the only competitors of Bitmine.

[grv]

it will be shipped as soon as it becomes barely profitable, maybe just enough to roi.

[SirWizz]

So no "official" news in almost 3 weeks as far as I can tell. Is everyone on vacation over at Bitmine?

[lclc]

I also live in Switzerland, but I am not so naive thinking just because they're a Swiss company they are doing right or that this delay without any news is ok.

The only reason I ordered from them and not from another ASIC company is that it's easier to call in a lawyer if needed. And it looks like this was a wise decision.