Announcement: Bitmain launches AntMiner solution, 0.68 J/GH on chip

[goxed]

AntMiner webstore is online and Super Fire Sale up coming

Fire Sale Time: 2014-1-11, 23:00, Beijing Time, UTC+8
Please visit Bitmaintech.com

BITMAIN releases the online store to the public now.

Thanks for the attention and patient waiting from all loyal customers, and also testing our online store. We are going to hold a 30 units of super fire sale at 2.4BTC (In China we called it "second kill"). After this fire sale, the price will back up to normal. Shipping cost is included.

Each customer shall place an order with only one S1, Shipping out within 2 days after full payment, most likely on next Monday if we can really finish the sales in the first day.

Bug reports are welcomed. The first one who reports a certain bug will be rewarded a U1 miner. Report bugs to: webmaster@bitmaintech.com

BUG: Can't add 1 item to the cart
Browser Firefox 26.0

Might be because none are in stock? (S1)

I guess the firesale stock's going to be  replenished on 2014-1-11, 23:00, Beijing Time, UTC+8
Saturday 10AM NY time if I'm not mistaken

[ineedit]

Could start to get interesting. Same price as the Bitmine V1 but no power supply with the Antminer. I suspect that these fire sale prices will soon be brought back.

[Mylo]

With much respect to Bitmain, am I missing something here guys?

Even at 2.4 BTC @ 819 USD per BTC = 1965 USD and 20% difficulty increase (even thou I've been generous, some show up to 30%) that will be about ~ 587 USD overall profit by 280th day.
Sure, plus price and difficulty flactuations, we might even add up to 10-20% there. But is it the max you are aiming to get from your devices?

Calculations via http://bitcoinwisdom.com/bitcoin/calculator

[klondike_bar]

With much respect to Bitmain, am I missing something here guys?

Even at 2.4 BTC @ 819 USD per BTC = 1965 USD and 20% difficulty increase (even thou I've been generous, some show up to 30%) that will be about ~ 587 USD overall profit by 280th day.
Sure, plus price and difficulty flactuations, we might even add up to 10-20% there. But is it the max you are aiming to get from your devices?

Calculations via http://bitcoinwisdom.com/bitcoin/calculator

so 25% profit? I don't understand your confusion, 2.4BTC is a perfect price IMO

[giletto]

280 day and 25% profit is for this ambiguous future not that big deal, even if bought 2.4BTC now and wait 280 days bring the same profit imho.

[klondike_bar]

280 day and 25% profit is for this ambiguous future not that big deal, even if bought 2.4BTC now and wait 280 days bring the same profit imho.

I'm sorry, you need to clarify how holding 2.4BTC for 280days will magically earn interest - I think 2.4BTC is a fair price where the unit should make back its cost so long as there are no extraordinary circumstances

[Syke]

2.4 BTC is an ok price, but are any more actually available at that price?

[giletto]

280 day and 25% profit is for this ambiguous future not that big deal, even if bought 2.4BTC now and wait 280 days bring the same profit imho.

I'm sorry, you need to clarify how holding 2.4BTC for 280days will magically earn interest - I think 2.4BTC is a fair price where the unit should make back its cost so long as there are no extraordinary circumstances

You ever hear something about price increase? Just look back the BTC price 280days ago. Is not rocket science...

[klondike_bar]

280 day and 25% profit is for this ambiguous future not that big deal, even if bought 2.4BTC now and wait 280 days bring the same profit imho.

I'm sorry, you need to clarify how holding 2.4BTC for 280days will magically earn interest - I think 2.4BTC is a fair price where the unit should make back its cost so long as there are no extraordinary circumstances

You ever hear something about price increase? Just look back the BTC price 280days ago. Is not rocket science...

oh... so you are just dumb.

1BTC = 1BTC a year from now. not sure what makes that hard to understand. it may be worth 10x as much in USD but that is still going to be 1BTC.

if you buy a 2.4BTC miner and it returns 3BTC, you made more profit then if you held your 2.4BTC. is it hard to understand?

EDIT: bought and paid for a firesale antminer!

[giletto]

oh... so you are just dumb.

Obviously not, instead of you. Simple math:

Bough for 2.4BTC and earn MAYBE in 280 days 25% <> compared to exchange 2.4BTC and hold for 280 days. A simple RISK calculation. As i wrote is not rocket science, maybe i was wrong. For someone it is.

The risk to lose money (Fiat) with buy BTC and hold instead of lose money (Fiat) with buy a miner and can't calculate the difficulty clearly. You get it now? If not, never mind. i have time...

[pjviitas]

Are there any S1's available through this site?

[Xian01]

Bough for 2.4BTC and earn MAYBE in 280 days 25% <> compared to exchange 2.4BTC and hold for 280 days.

 It's quite possible my numbers were off, but accounting for difficulty, I calculated these making back 2.4 BTC within ~70 days. Did I get something wrong ?

[klondike_bar]

oh... so you are just dumb.

Obviously not, instead of you. Simple math:

Bough for 2.4BTC and earn MAYBE in 280 days 25% <> compared to exchange 2.4BTC and hold for 280 days. A simple RISK calculation. As i wrote is not rocket science, maybe i was wrong. For someone it is.

The risk to lose money (Fiat) with buy BTC and hold instead of lose money (Fiat) with buy a miner and can't calculate the difficulty clearly. You get it now? If not, never mind. i have time...

okay, here we go:

SITUATION 1: BUY NOW
2.4BTC bought at current exchange rate and held for 1year -----> 2.4BTC as of Jan 11, 2015
2.4BTC bought at current rate and used to pay for antminer -------> ~2.4-3.0BTC as of Jan 11,2015 (the antminer probably is turned off before september though)

SITUATION 2: BUY LATER
2.4BTC bought at current exchange rate and held for 1year -----> 2.4BTC as of Jan 11, 2015
or (assume BTC=$1000 right now for simplicity):  In 1 year, buy $2400 worth of BTC -------> *unknown amount* as of Jan 11, 2015   (my guess is you will only get about 0.5BTC at that time for your $2400)


I'm still not sure why you say that holding will make more, or gain some sort of 'interest'. its easy to estimate how many BTCs mining will produce, and that calculation appears to show it will produce more than its own cost. there is some risk involved because of 'sunk funds' if you had to ever transfer BTC/USD before making back the full miner's BTC price, but you also get a valuable (or maybe just 'collectible') piece of hardware with resale value

Please show me what i am missing, because it seems that if a mining device has a good chance of returning 125% BTC of what you paid for it in BTC, that is more then you would get by simply having a cold storage wallet with the same initial BTC in it

[loshia]

oh... so you are just dumb.

Obviously not, instead of you. Simple math:

Bough for 2.4BTC and earn MAYBE in 280 days 25% <> compared to exchange 2.4BTC and hold for 280 days. A simple RISK calculation. As i wrote is not rocket science, maybe i was wrong. For someone it is.

The risk to lose money (Fiat) with buy BTC and hold instead of lose money (Fiat) with buy a miner and can't calculate the difficulty clearly. You get it now? If not, never mind. i have time...

okay, here we go:

SITUATION 1: BUY NOW
2.4BTC bought at current exchange rate and held for 1year -----> 2.4BTC as of Jan 11, 2015
2.4BTC bought at current rate and used to pay for antminer -------> ~2.4-3.0BTC as of Jan 11,2015 (the antminer probably is turned off before september though)

SITUATION 2: BUY LATER
2.4BTC bought at current exchange rate and held for 1year -----> 2.4BTC as of Jan 11, 2015
or (assume BTC=$1000 right now for simplicity):  In 1 year, buy $2400 worth of BTC -------> *unknown amount* as of Jan 11, 2015   (my guess is you will only get about 0.5BTC at that time for your $2400)


I'm still not sure why you say that holding will make more, or gain some sort of 'interest'. its easy to estimate how many BTCs mining will produce, and that calculation appears to show it will produce more than its own cost. there is some risk involved because of 'sunk funds' if you had to ever transfer BTC/USD before making back the full miner's BTC price, but you also get a valuable (or maybe just 'collectible') piece of hardware with resale value

Please show me what i am missing, because it seems that if a mining device has a good chance of returning 125% BTC of what you paid for it in BTC, that is more then you would get by simply having a cold storage wallet with the same initial BTC in it

+1 on that but when I see some reasonable deal (smell like sell off) from china (no irony) here I expect a big technology jump and diff raise of which we are unaware
That is why I prefer to sit on my btc as long as it takes and waait for a day when producing ASIC chip will not pay off. Then diff will settle so we can spend again for mining hw
The good news is that china new year is nocking at the door so we will probably take a breath with lower diff jumps during china holidays

[giletto]

Ok, then lets do the math:

SITUATION 1: BUY NOW and HOLD
2.4BTC bought at current exchange rate and held for 1year -----> 2.4BTC as of Jan 11, 2015

Right. As you can see, you will not lose any single coin, but it is expectable to win Fiat after 1 year with this investment. right? If not and the BTC is fade away within the next 1 year it's not nice, but it will be in the case of buy a miner too. So with the miner you can lose on TWO possible way money. Why? See below. Or in the No Win/No Lose Case: After 1 year you still keep your Start Investment in your hand, because 1BTC cost exactly the same price like today.

How is the risk? Low, just in the unexpectable case that the BTC will die or lose alot worth within the 1 year hold time you can lose money. The invest/risk ratio is moderate and easy to calculate.

SITUATION 2: Buy a MINER instead of Buy and Hold BTC
2.4BTC bought at current rate and used to pay for antminer -------> ~2.4-3.0BTC as of Jan 11,2015 (the antminer probably is turned off before september though)

So Point one, your start investment must ROI and reach break even. Incalculable risk ONE, because we can only GUESS about the near future of Difficulty increase. Second risk is the same above, BTC lost worth or die within the 1 year Timeframe. Or in the same No Win/No lose case about the worht of BTC: You still can LOSE coins because you never reach break even, even when the BTC cost after 1 year the same like today.

Now let's compare: For the small possible, but not sure profit of maybe 20-25% within 280 days you want risk to lose money? Instead of just take your start investment, invest it and hold? 25% maybe profit obverse a never break even compare to a 100% BTC amount within 1 year, with no chance to lose with the buy and hold strategy.

To WIN more money mean sometime just not to LOSE any.

[pjviitas]

Ya maybe if we all quit mining we could make more money....oh wait...IF NO ONE MINES NONE OF THIS WOULD BE POSSIBLE!!!!

[giletto]

You don't get the point mate, so your post is quite pathetic.

YOU and all other BEDROOM miner mine not profitable enough, other like mining farm who buy the miner cheap or even produce the miner by themself still do it and will mine in the future profitable. So not every miner will quit mining, only the miner which 0 profit or almost 0 profit or lose money will do it.

Bedroom mining is dead soon with this kind of price politic. First Reason

Second reason is the incredible high energy consumption. Just look the next miner generation, the "Terra Miner". KNC Neptune for example, consume about 2.5-3 KW/h, ONE MINER! And how much BTC this miner will generate when arrived you? Not more then the Jupiter now. Count by yourself, how long this business will be profitable...and then you got the point how long the actually miner could be bring a profit.

If not break even within the next 1-2 month, keep your hands away, this miner will burn your money...

[pjviitas]

You don't get the point mate, so your post is quite pathetic.

YOU and all other BEDROOM miner mine not profitable enough, other like mining farm who buy the miner cheap or even produce the miner by themself still do it and will mine in the future profitable. So not every miner will quit mining, only the miner which 0 profit or almost 0 profit or lose money will do it.

Bedroom mining is dead soon with this kind of price politic. First Reason

Second reason is the incredible high energy consumption. Just look the next miner generation, the "Terra Miner". KNC Neptune for example, consume about 2.5-3 KW/h, ONE MINER! And how much BTC this miner will generate when arrived you? Not more then the Jupiter now. Count by yourself, how long this business will be profitable...and then you got the point how long the actually miner could be bring a profit.

If not break even within the next 1-2 month, keep your hands away, this miner will burn your money...

When the majority of mining is done by centralized mining farms then it will spell the end of Bitcoin simply because the government can simply take it over and subvert the security of the Bitcoin network.

Don't forget that the spirit of Bitcoin is for everyone to mine at least a little bit.  Centralized transaction processing is what we are trying to get away from in the first place!!!

[giletto]

You are absolute right, this seems dangerous. But what you want to do to avoid this scenario? Mine home with the knowledge that you will never break even, to protect the network?

Sure you are willing to make that sacrifices?

[pjviitas]

You are absolute right, this seems dangerous. But what you want to do to avoid this scenario? Mine home with the knowledge that you will never break even, to protect the network?

Sure you are willing to make that sacrifices?

I am my own person and I do as I wish.

If your looking for someone to teach go look elsewhere.