[Antminer S1 Sales open] Price changes daily, now 0.414 BTC for 180GH/s

[tzortz]

expired, and couldn't even use them because there was no stock, and when there was stock, the website order system was broken.
...and bitmain refusing to answer my many questions about coupons.

Price down again!

Again?
Still overpriced.

Wait few more days.

Bitmain no coupons? I though by ordering 5 units -AGAIN , im so kind returning customer...Obviously not.

Does anyone  have coupons from bitmain?

I have also the same problem.

[ak49er]

Lets say you want to invest for 2 Th/s.

Means you will need 16x S1s or 2x A1 clones for example.

option a):
-16x S1s
-need PSUs and power cables.
-Need a router and 16x ethernet cables
-Need much more space.
-Need, also, baby sitting
-Consume 2600W
Cost: Around 11 BTC

option b):
-2x A1 Ths clones
-Consume 2000W
Cost: Around 10 BTC

You choose.

Option C.  You can only afford one S1.

People weren't buying USB erupters because they were the best deal or the best equipment.  They were buying them because that's what they could afford and had immediate delivery.  There are 101 ways to skin this particular cat depending on your own particular circumstances.  And that includes the whole fiat vs. BTC arguments.  You do what's right for you and I'll do what's right for me.  You may be in a position to do better than me, but I can't do what you do so I'll do what I can.  And I'll do it with the full knowledge that it's not ideal because I ain't stoopid.

[kendog77]

Lets say you want to invest for 2 Th/s.

Means you will need 16x S1s or 2x A1 clones for example.

option a):
-16x S1s
-need PSUs and power cables.
-Need a router and 16x ethernet cables
-Need much more space.
-Need, also, baby sitting
-Consume 2600W
Cost: Around 11 BTC

option b):
-2x A1 Ths clones
-Consume 2000W
Cost: Around 10 BTC

You choose.

I choose option c.):
Buy 10 Ants and over clock them to 200 GH : 6.19 BTC
Buy 5 850 watt power supplies : 1.3 BTC
Total : 7.5 BTC

I can pay for the extra power they consume for many months with the 2.5 BTC I saved versus buying A1 clones.

[demonmaestro]

I guess i don't get coupons. 


even though  i ordered my miners on 2014-04-19 01:27:34.0

[cad_cdn]

bitmain's twitter and facebook saying coupons coming soon (april 25-26) to recent purchasers...whatever constitutes a 'recent' purchase

I guess i don't get coupons. 


even though  i ordered my miners on 2014-04-19 01:27:34.0

[aztecminer]

well then don't use your mined coins to buy new hardware with ?? use fiat to buy new coins and use those coins as a vehicle to pay for ur new hardware. problem solved.

Nope, doesn't work that way.  If you buy BTC with fiat and you end up mining less BTC than the BTC you spent on the hardware, regardless of what fiat you paid, you've netted a loss.  The conversion from fiat to BTC doesn't matter, because you paid in BTC.  Let's do some math (complicated tax issues out of the picture).

We're going to simplify the numbers, so it's easy to digest:

Scenario A: You purchase 1BTC for the exchange price of $100USD, then immediately purchase a miner that costs 1BTC.  It's super-fast!  During the lifetime of the device (which we'll say is the time that it makes more in BTC than it costs to feed it electricity) it produces 0.93BTC before you're mining at a loss.  When you go to the exchange, BTC has doubled in price to $200USD.  You exchange your 0.93BTC for $186USD.  This appears to be making a profit, until you get to...

Scenario B: You purchase 1BTC for the exchange price of $100USD, then hodl it.  When you go to the exchange (at the same time as you would in the first scenario) BTC has doubled in price to $200USD.  You exchange your 1BTC for $200USD.  You did no mining, and doubled your money.

In the first scenario, you lost BTC, period.  Regardless of what the fiat rate is, you will always get less exchanged fiat if your miner cost more than it made versus just holding the BTC.  There's no getting around that, you lost BTC.  Profitability in mining should always be calculated in BTC if you paid for the gear in BTC.

Now, the inverse is true if you paid in fiat, and I know that sounds crazy!  If you buy a $100 dollar miner in fiat, and it generates BTC that you later sell for more than $100 dollars, you've made a profit.  It works this way because the "value" of the dollar is (mostly) fixed, where as the value of BTC is not.  If you pay in BTC, you need to make your profit estimates on BTC.  If you paid in fiat, you should be using fiat to base your profit estimates.

That said, I enjoy mining and I've been lucky enough to turn a profit (in BTC!) on my mining endeavors so far--this isn't me shooting down mining by any means, I just know the math is confusing and want to lend a hand.  I myself had to sit in a recliner and sip scotch while I worked it out! Everyone should give it a go, as it's an excellent mental exercise.

That is exactly RIGHT...!

If you pay for miner(s) in BTC...count your return in BTC...
If you pay for your miner(s) in FIAT...count your return in FIAT...

Don't get confused by speculation in exchnge's rates...

i understand what u are saying ... but if u use new fiat money converted to btc and this btc is not kept for an investment and is only used as a vehicle then you have bought your mining hardware with fiat. i think what we have here are people who are using their mined coins to buy new hardware with. in that case you would need to mine more coin than you paid. i think is not a great strategy to use mined coins to buy new hardware unless you plan to replace those coins when btc were to hit a lower price. in that scenario you would get ur mining hardware even cheaper. this all depends on what you consider money to be. personally i do not have confidence in the usd reserve dollar and this is why i convert much usd reserve currency into other assets like lead bullion, gold, silver,........ mining hardware... etc. ... "i would never own 'a bond' " or any paper junk.

[aztecminer]

I guess i don't get coupons. 


even though  i ordered my miners on 2014-04-19 01:27:34.0

no groupons for penguins! i need coupons for reading this thread everyday!

[tzortz]

Lets say you want to invest for 2 Th/s.

Means you will need 16x S1s or 2x A1 clones for example.

option a):
-16x S1s
-need PSUs and power cables.
-Need a router and 16x ethernet cables
-Need much more space.
-Need, also, baby sitting
-Consume 2600W
Cost: Around 11 BTC

option b):
-2x A1 Ths clones
-Consume 2000W
Cost: Around 10 BTC

You choose.

I choose option c.):
Buy 10 Ants and over clock them to 200 GH : 6.19 BTC
Buy 5 850 watt power supplies : 1.3 BTC
Total : 7.5 BTC

I can pay for the extra power they consume for many months with the 2.5 BTC I saved versus buying A1 clones.

You don't regard power limitations.

[RENDERING]

BUYER BEWARE!

I purchased an Ant S1 from Bitmain and they shipped it to me with a bad Ethernet port. I cannot even plug it in to have it start mining. Clearly they either did not plug it in and test it OR they just knew it was a bad Ethernet port and shipped it out anyways.

I also have a friend who has recently received and Ant S1 from BitMain with a bad Ethernet port as well. Expect the same to happen to you.

It took them 6 weeks to send my friend a new controller board with a good Ethernet port on it. Great customer service.

I have been waiting for 48 hours now for them to even reply to my email to get a new Controller board.

Now I sit with a useless ant that I invested over $480 in. It now is making $0 a day until they ship me a new part. AND they want you to ship the bad part back before they will even ship you a new one. To ship it back to them it cost $44! Ya, prolly three times as much as the controller board.

If your going to purchase an Ant S1 I recommend getting it through a distributor in your country. At least they plug them all in and test them to make sure they are working before shipping to you. Otherwise you will end up with a brick like us and have to deal with the crappiest customer service I have seen thus far.

[wpgdeez]

BUYER BEWARE!

I purchased an Ant S1 from Bitmain and they shipped it to me with a bad Ethernet port. I cannot even plug it in to have it start mining. Clearly they either did not plug it in and test it OR they just knew it was a bad Ethernet port and shipped it out anyways.

I also have a friend who has recently received and Ant S1 from BitMain with a bad Ethernet port as well. Expect the same to happen to you.

It took them 6 weeks to send my friend a new controller board with a good Ethernet port on it. Great customer service.

I have been waiting for 48 hours now for them to even reply to my email to get a new Controller board.

Now I sit with a useless ant that I invested over $480 in. It now is making $0 a day until they ship me a new part. AND they want you to ship the bad part back before they will even ship you a new one. To ship it back to them it cost $44! Ya, prolly three times as much as the controller board.

If your going to purchase an Ant S1 I recommend getting it through a distributor in your country. At least they plug them all in and test them to make sure they are working before shipping to you. Otherwise you will end up with a brick like us and have to deal with the crappiest customer service I have seen thus far.

I've ordered 20 without a single problem. Sorry for your bad luck.

[helipotte]

I received one with a bad temp sensor.  Fans ran at 100%.  Replaced it myself and all is well.  

Oddly, this same unit, overclocked to 387.5Mhz, has almost no errors!  Maybe 1 a day.

[RENDERING]

I've ordered 20 without a single problem. Sorry for your bad luck.

For sure I know a lot of people that have ordered with good Ethernet as well.

My problem lies in their customer service.

If they would just send a new board immediately without all the BS of sending the old one back, and battling back and forth via email, then there would be no problems. (I say this because it will cost me $44 to ship the old one back, and that is shipping it in an envelope. Just outrageous!) Maybe that is whey they shipped me that bad unit anyways, thinking I would just say fuck it and forget about it. Trying to push off their shit parts on people they could care less about in another country!

If it where my company and I shipped a faulty unit, I would replace it right away no questions asked. They are being very shady about it.

Not only that, I am only asking for a new controller board, not the whole damn ant. Its a cheap part. I tested the ANT on another controller and the ANT works fine. It is only the controller board that is bad.

Simple, ship a new controller board as soon as they receive the email. The board probably only costs them $15. Then, happy customer.

They fail to do even that. Goes to show how horrible their customer support really is. Scares me to think if I get an ant that does not work at all. :/

[klondike_bar]

Lets say you want to invest for 2 Th/s.

Means you will need 16x S1s or 2x A1 clones for example.

option a):
-16x S1s
-need PSUs and power cables.
-Need a router and 16x ethernet cables
-Need much more space.
-Need, also, baby sitting
-Consume 2600W
Cost: Around 11 BTC

option b):
-2x A1 Ths clones
-Consume 2000W
Cost: Around 10 BTC

You choose.

I choose option c.):
Buy 10 Ants and over clock them to 200 GH : 6.19 BTC
Buy 5 850 watt power supplies : 1.3 BTC
Total : 7.5 BTC

I can pay for the extra power they consume for many months with the 2.5 BTC I saved versus buying A1 clones.

You don't regard power limitations.

power limits may not be a factor for some people until late 2014. The antminer can be profitable at 2w/GH until ~september, and can even underclock to 140GH/170W each before then

[kendog77]

BUYER BEWARE!

I purchased an Ant S1 from Bitmain and they shipped it to me with a bad Ethernet port. I cannot even plug it in to have it start mining. Clearly they either did not plug it in and test it OR they just knew it was a bad Ethernet port and shipped it out anyways.

I also have a friend who has recently received and Ant S1 from BitMain with a bad Ethernet port as well. Expect the same to happen to you.

It took them 6 weeks to send my friend a new controller board with a good Ethernet port on it. Great customer service.

I have been waiting for 48 hours now for them to even reply to my email to get a new Controller board.

Now I sit with a useless ant that I invested over $480 in. It now is making $0 a day until they ship me a new part. AND they want you to ship the bad part back before they will even ship you a new one. To ship it back to them it cost $44! Ya, prolly three times as much as the controller board.

If your going to purchase an Ant S1 I recommend getting it through a distributor in your country. At least they plug them all in and test them to make sure they are working before shipping to you. Otherwise you will end up with a brick like us and have to deal with the crappiest customer service I have seen thus far.

This is my biggest fear with ordering products directly from Chinese manufacturers.

Perhaps Bitmain can offer coupons that cover the purchase price in BTC for DOA items that are shipped back to them within a couple days of receipt?

Also, note that another poster had trouble with a S1 he ordered from 112bit, and they simply referred him back to Bitmain. If distributors are going simply going to refer their buyers to Bitmain for all problems, I see zero reason to order from them instead of just buying directly from Bitmain. At the very least, distributers should offer their buyers some level of protection and handle RMAs.

[RENDERING]

BUYER BEWARE!

I purchased an Ant S1 from Bitmain and they shipped it to me with a bad Ethernet port. I cannot even plug it in to have it start mining. Clearly they either did not plug it in and test it OR they just knew it was a bad Ethernet port and shipped it out anyways.

I also have a friend who has recently received and Ant S1 from BitMain with a bad Ethernet port as well. Expect the same to happen to you.

It took them 6 weeks to send my friend a new controller board with a good Ethernet port on it. Great customer service.

I have been waiting for 48 hours now for them to even reply to my email to get a new Controller board.

Now I sit with a useless ant that I invested over $480 in. It now is making $0 a day until they ship me a new part. AND they want you to ship the bad part back before they will even ship you a new one. To ship it back to them it cost $44! Ya, prolly three times as much as the controller board.

If your going to purchase an Ant S1 I recommend getting it through a distributor in your country. At least they plug them all in and test them to make sure they are working before shipping to you. Otherwise you will end up with a brick like us and have to deal with the crappiest customer service I have seen thus far.

This is my biggest fear with ordering products directly from Chinese manufacturers.

Perhaps Bitmain can offer coupons that cover the purchase price in BTC for DOA items that are shipped back to them within a couple days of receipt?

Also, note that another poster had trouble with a S1 he ordered from 112bit, and they simply referred him back to Bitmain. If distributors are going simply going to refer their buyers to Bitmain for all problems, I see zero reason to order from them instead of just buying directly from Bitmain. At the very least, distributers should offer their buyers some level of protection and handle RMAs.

Simple man. I know for a fact that MinerSource.net tests every single Ant S1 they get. If they find a bad one they ship it back to BitMain them selfs. Thus they never ship a bad unit to one of their customers, they take care of all the faulty parts behind the scenes to keep a good customer service reputation.

That is how business is done if you want to keep customers.

Bitmain on the other hand is a multi-million dollar company and they cannot even test the unit nor send a new cheap ass controller board! Now you tell me, what the fuck does that mean?

And coupons, ya, where the fuck are my coupons, I have ordered from them several times now and not got a single coupon, yet everyone else I know sits and brags to me how they got 3 coupons and shit. But no, not a single one for me. Not even a damn response to my email to get the faulty part replaced.

[tzortz]

Lets say you want to invest for 2 Th/s.

Means you will need 16x S1s or 2x A1 clones for example.

option a):
-16x S1s
-need PSUs and power cables.
-Need a router and 16x ethernet cables
-Need much more space.
-Need, also, baby sitting
-Consume 2600W
Cost: Around 11 BTC

option b):
-2x A1 Ths clones
-Consume 2000W
Cost: Around 10 BTC

You choose.

I choose option c.):
Buy 10 Ants and over clock them to 200 GH : 6.19 BTC
Buy 5 850 watt power supplies : 1.3 BTC
Total : 7.5 BTC

I can pay for the extra power they consume for many months with the 2.5 BTC I saved versus buying A1 clones.

You don't regard power limitations.

power limits may not be a factor for some people until late 2014. The antminer can be profitable at 2w/GH until ~september, and can even underclock to 140GH/170W each before then

I don't believe an S1 can live for more than 2 months.

I keep this post.

Lets wait and see.

[kendog77]

Lets say you want to invest for 2 Th/s.

Means you will need 16x S1s or 2x A1 clones for example.

option a):
-16x S1s
-need PSUs and power cables.
-Need a router and 16x ethernet cables
-Need much more space.
-Need, also, baby sitting
-Consume 2600W
Cost: Around 11 BTC

option b):
-2x A1 Ths clones
-Consume 2000W
Cost: Around 10 BTC

You choose.

I choose option c.):
Buy 10 Ants and over clock them to 200 GH : 6.19 BTC
Buy 5 850 watt power supplies : 1.3 BTC
Total : 7.5 BTC

I can pay for the extra power they consume for many months with the 2.5 BTC I saved versus buying A1 clones.

You don't regard power limitations.

power limits may not be a factor for some people until late 2014. The antminer can be profitable at 2w/GH until ~september, and can even underclock to 140GH/170W each before then

I don't believe an S1 can live for more than 2 months.

I keep this post.

Lets wait and see.

I'm a math guy, so lets look at some numbers.

At the current difficult and BTC price, a S1 earns $186 dollars per month and uses $35 dollars in electricity at 12 cents per kilowatt hour. Barring a BTC price collapse, which would slow down difficulty growth, your assertion that a S1 will not be profitable in 2 months is absurd. The S1 will be unprofitable towards the end of 2013 (Q4) unless BTC price increases.

[reactor]

Lets say you want to invest for 2 Th/s.

Means you will need 16x S1s or 2x A1 clones for example.

option a):
-16x S1s
-need PSUs and power cables.
-Need a router and 16x ethernet cables
-Need much more space.
-Need, also, baby sitting
-Consume 2600W
Cost: Around 11 BTC

option b):
-2x A1 Ths clones
-Consume 2000W
Cost: Around 10 BTC

You choose.

I choose option c.):
Buy 10 Ants and over clock them to 200 GH : 6.19 BTC
Buy 5 850 watt power supplies : 1.3 BTC
Total : 7.5 BTC

I can pay for the extra power they consume for many months with the 2.5 BTC I saved versus buying A1 clones.

You don't regard power limitations.

power limits may not be a factor for some people until late 2014. The antminer can be profitable at 2w/GH until ~september, and can even underclock to 140GH/170W each before then

I don't believe an S1 can live for more than 2 months.

I keep this post.

Lets wait and see.

I'm a math guy, so lets look at some numbers.

At the current difficult and BTC price, a S1 earns $186 dollars per month and uses $35 dollars in electricity at 12 cents per kilowatt hour. Barring a BTC price collapse, which would slow down difficulty growth, your assertion that a S1 will not be profitable in 2 months is absurd. The S1 will be unprofitable towards the end of 2013 (Q4) unless BTC price increases.

I dig math too and I don't see your numbers.  Assuming the unit shows up for the entirety of May, at $.12/kwh, optimistically you'll see .37BTC return for your .619BTC purchase price.  Only with free power do these things almost make sense, and even that is a stretch.  They're dumping inventory, same thing AM did back in the day when the number of people saying these are pointless is larger than the number of people excited about them.

[nottm28]

I'm a math guy, so lets look at some numbers.

At the current difficult and BTC price, a S1 earns $186 dollars per month and uses $35 dollars in electricity at 12 cents per kilowatt hour. Barring a BTC price collapse, which would slow down difficulty growth, your assertion that a S1 will not be profitable in 2 months is absurd. The S1 will be unprofitable towards the end of 2013 (Q4) unless BTC price increases.

I dig math too and I don't see your numbers.  Assuming the unit shows up for the entirety of May, at $.12/kwh, optimistically you'll see .37BTC return for your .619BTC purchase price.  Only with free power do these things almost make sense, and even that is a stretch.  They're dumping inventory, same thing AM did back in the day when the number of people saying these are pointless is larger than the number of people excited about them.

The problem you both have is that you call maths math. If you look at the maths properly then 0.6ish can profit - just about - depending on how much you pay for electricity.

[tzortz]

I'm a math guy, so lets look at some numbers.

At the current difficult and BTC price, a S1 earns $186 dollars per month and uses $35 dollars in electricity at 12 cents per kilowatt hour. Barring a BTC price collapse, which would slow down difficulty growth, your assertion that a S1 will not be profitable in 2 months is absurd. The S1 will be unprofitable towards the end of 2013 (Q4) unless BTC price increases.

You think that an S1 will make $186 for May month?

I bet will not even make $130 for May. Deduct the $35 for electricity.

I am sorry but S1 is dead already.