Bitmain Antminer X3 -- 220KH+ Cryponight - 550W

[QuintLeo]

They probably meant ETN (Electronium) which is the second-highest network hashrate CN coin - and like Monero they have announced they will be changing their algorithm and hard forking soon to implement the change.

These devices are no coffin nail in CPU mining, they're going to be expensive paperweights very soon now.

ETN has announced a fork? Do u have the source of this news?

It was mentioned in a Q&A video linked from their facebook page, but details were pretty ambiguous.
They HAVE to change the algorithm though for their "mobile mining" model to survive at all.

[not.you]

Maybe bitmain preordered chips to make a bunch of these.  So they need to presell a ton now.

[Apprentice]

It'd be hilarious to see the hashrate drop by 75% after Monero forks because most companies have been mining there for months. 

I hope so. My rigs been struggling for the last month

[treanski]

summarized all cryptonight miners got fucked for a very long time by shitmain and fuckkail
i hope everybody who is supporting them in future by buying any product will get fucked by karma with burned hashboards/gpus

[shaninium]

New disclaimer when buying 3k and 1.9k units from bitmain.

3. One major cryptocurrency which is using CryptoNight hash function is about to change their PoW algothrim, and according to their public statement, it is purposely to brick ASIC mining rigs including X3. When you buying it, you are betting that they are wrong.

I dont think ETN will fork, they would want wide spread adoption of their coin, asics are  perfect for this. XMR can only change their algo so much, their ram requirements still have to be cpu friendly.

[suchmoon]

New disclaimer when buying 3k and 1.9k units from bitmain.

3. One major cryptocurrency which is using CryptoNight hash function is about to change their PoW algothrim, and according to their public statement, it is purposely to brick ASIC mining rigs including X3. When you buying it, you are betting that they are wrong.

I dont think ETN will fork, they would want wide spread adoption of their coin, asics are  perfect for this. XMR can only change their algo so much, their ram requirements still have to be cpu friendly.

ASICs only help "adoption" with dumpers, not necessarily a benefit for a small coin. Plus the math is still the same - a shitload of hashrate will devalue everyone's profits.

Re XMR: the change doesn't need to be huge as long as it makes ASICs useless... actually in this case just the intent was enough to force Bitmain to drop the price and also it sends a signal to any potential ASIC vendor to forget about XMR. A bit of a hassle for all GPU/CPU miners to upgrade their software though.

[Cryptodelver]

We made a list of all the coins the Antminer X3 can mine, check it out: https://cryptodelver.com/asic/antminer-x3
We will update the minable coins as the forks happen.

[EricJH801]

Nice work!

We made a list of all the coins the Antminer X3 can mine, check it out: https://cryptodelver.com/asic/antminer-x3
We will update the minable coins as the forks happen.

[ciciteng]

What a joke! Bitmain just greedy AF!
From 12K and 2 days later down to 3K https://shop.bitmain.com/productDetail.htm?pid=000201803162234588810T73G76V05F6
This garbage will be dead on arrival. Or even better, will be dead while on the way to your door step.
DONT BUY THIS!

[Atomicc]

I do not know how to name this business model, what they try to use. Someone, can name it fraudulent.
 Let's imagine they are selling the taxi cars running on water.
"Ok, we produce our super taxi car. Cost of production 500$. Let's work the taxi business in silent (extra profit) for 4 months, and ruin the business of all other taxis."
"We heard that someone close the roads for our taxis, they will not be usable at all. Ok, let's start to sell it, maybe we will find some uninformed investors. How much people will pay for it? Maybe 12000USD? Let's try."
But, community react and warn the investors that roads will be closed for those cars.
"Damn, what should We do? Let's start to reduce the price. New price:3000$, maybe We will find some buyers, We order too much parts for production."
"After another 4 hours, no buyers yet? Let's try to sell it for 1900USD..."

What a respect for their "valuable customers"...We try to squeeze from you as much money as We can...but... this time community react...and stop this greedy sharks. They try to use their unfair business model again, as they did in the past, but community said ENOUGH!

Try to sell us something what sell for 1900USD (and have an extra profit), for 12000!!! Later, try to explain that they are nice guys and decide after two days to reduce price to 1900.

Translation: We try to rob You...but We do not succeed, so let's try to take only 1900USD from You, for useless doorstop.

Here are a thousands of their buyers, remembered old situations (D3 etc...), and after this fail, I am not sure how they will continue their business.
There is no company in "real world" which can survive such fail.

This price change is a real confess of their intentions.

I am proud that crypto community show to those greedy ASIC producers, that they can not destroy everything what they touch!

[suchmoon]

I understand the indignation but let's face it - Bitmain isn't really lying about this. They don't make any claims about profitability. People just need to do their homework and not buy it if the numbers don't add up.

[Atomicc]

I do not talk about profitability, but for respecting the customers.
If BMW offer a new model of a car for 120000USD, than for 2 days change price on 30000, and for another 4 hours to 19000!!! What You can think? .... They try to rob me...

[suchmoon]

I do not talk about profitability, but for respecting the customers.
If BMW offer a new model of a car for 120000USD, than for 2 days change price on 30000, and for another 4 hours to 19000!!! What You can think? .... They try to rob me...

Only if you let them. Bitmain offered refunds, try getting that from BMW.

Look, I'm not saying it's not shady... but this is crypto, a supposedly decentralized self-regulated environment. You can't rely on everyone playing nice. This can be resolved using technology - e.g. by changing algos - or by not buying the miners.

[Ilan123]

Looks like Halong miner has released a cheaper more efficient miner than the X3

DragonMint X1 (April)

From: $1,599.00

Cryptonite POW miner.

Algorithm: CryptoNight
Hashrate: 124kh/s
Power consumption: 245W
Shipping: April 25-30
Tolerance: 6%

[Lantic_Mining]

...are we missing something here... 

I can't think of a single reason to buy any of these machines but am struggling to believe that Bitmain, Baikal and Halong are all so arrogant as to think that the crypto-community is this gullible. Is this really a sell off by the manufacturers ahead of the XMR fork or might there actually be a use (now or in the future) for these?...

Regards,


Steve

[CryptoCrane]

I understand the indignation but let's face it - Bitmain isn't really lying about this. They don't make any claims about profitability. People just need to do their homework and not buy it if the numbers don't add up.

Shush you silly person! Being rational is not welcomed here during the "Bitmain is a scam" parade! Just because Bitmain consistently delivers what they advertise on time and to spec (albeit sometimes low quality) doesn't mean that we shouldn't be righteously upset about their success! After all, they are forcing us to buy these things after all.

/s

In all seriousness though, I wonder if there could ever be a business model in which the mining manufacturer allowed customers to 'finance' a mining device by taking a portion of the mining profits as a fee during mining. It would incentivize the manufacturer to release the best and most reliable hardware possible while also allowing a much larger customer base. The manufacturer ends up with a great recurring revenue stream with zero hardware maintenance while the customer gets a subsidized miner that earns a bit less than it would have without the fees. One obvious challenge would be how to secure the miner from being tampered with. It would also probably need to VPN back to the manufacturer's pool so that the fees couldn't easily be hijacked with a simple mining pool proxy.

[greyday]

https://halongmining.com/shop/dragonmint-x1-miner/

This is...intriguing. If BTC goes back up in the next day or two I may be down to give one of these a shot.

[squallw]

CN coins need a hard fork to change the algo or the CN algo will gonna die for gpu mining.
I agree that bitmain wants to compromize the main feature of crypto currencies by centralizing the power.

Not sure if they are doing it intentionally, but given their position; I think its a matter of inevitability. When you come up with an invention, you'd be stupid to not use it yourself. I'd say much of Bitmain's profit comes from mining and not actually selling their rigs. But that's a hypothesis. Otherwise, they'd end up like KNC or Butterfly Labs.

Yeah but this isn't looks fair for the customers/home miners, the company manufacture a product and instead to sell this new tecnology item, use for itself dominating the entire network and when it not profitable anymore or if there is a high risky to turn useless, the company sell this product for a damn $12k.

This is like nvidia/amd use the video cards for mining and sell when the company figured out a new gpu with new tecnology and more powerfull turning the previous item almost useless. I think that a company must sell the product with guaranted benefit or just don't sell it, like a real mining company that mines petrol, gas or something else for itself and dont sell their machines when it is not profitable anymore.

But crypto/mining is unregulated over the world so we can't do anything, there is no laws for cartels.

[dmch387688]

Prior of decision to buy, try to read just a few last pages of Bitmain D3 discussion thread. Those Cryptonight ASICs after the fork will be only luxuries doorstops. That is the business model of Bitmain.

https://bitcointalk.org/index.php?topic=2029822.6140

what is doorstop btw?

my D-3.  I also have a set of D-3 Bookends

[suchmoon]

But crypto/mining is unregulated over the world so we can't do anything, there is no laws for cartels.

Code is the law. Fork the coins and make the vendors lose money and they'll stay away from those coins. Or learn to live with ASICs, like BTC and LTC have done reasonably well, kinda-sorta.