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frodocooper
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It looks like we won't be seeing any more of the GMO B2 and B3. According to CoinDesk, GMO announced on Tuesday, December 25, 2018 that they will "no longer develop, manufacture, and sell mining machines." GMO's cryptocurrency mining division apparently recorded losses of $3.2 million in Q2 2018 and $5.6 million in Q3 2018. |
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big_daddy
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December 27, 2018, 11:57:32 AM |
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It looks like we won't be seeing any more of the GMO B2 and B3. According to CoinDesk, GMO announced on Tuesday, December 25, 2018 that they will "no longer develop, manufacture, and sell mining machines." GMO's cryptocurrency mining division apparently recorded losses of $3.2 million in Q2 2018 and $5.6 million in Q3 2018. too bad... we need as much as possible, not as few manufacturers as possible, to maintain decentralization on a high level |
If you don't believe it or don't get it, I don't have the time to try to convince you, sorry.
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NotFuzzyWarm
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December 27, 2018, 08:42:00 PM
Last edit: December 28, 2018, 04:39:41 AM by NotFuzzyWarm |
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Heh heh, gee, color me not surprised.....
At best these folks were highly over-optimistic hucksters from day-1 shilling 7nm tech long long before it was anywhere close to being usable other than as engineering test samples. As a result all performance specs they came up with were pure speculation with zero basis in reality. At worst they were scammers who from the very beginning knew exactly how this would turn out.
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Steamtyme
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December 28, 2018, 01:56:31 AM |
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Q2 - pretty sure this was when they announced, they were going to come out of nowhere and produce the most efficient hardware out there.
Q3- let's assume they were sourcing materials because they sure weren't doing much of anything else.
Q4- let's sell the gear that people would have bought as it was still competitive.
Nah let's abandon the 2 hardware projects we've been planning before trying to recoup any of those losses.
Makes no sense really. Maybe they f'd up hard in the design and build, seems like to stupidest con, as I dont think they took any money upfront from miners either.
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minefarmbuy
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We are not retail.
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December 28, 2018, 03:59:12 PM |
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Lack of capital imo, monies were refunded. Hard to have a lengthy pre order when consumers know competitors will be coming out with gear and will certainly match or beat spec with earlier release dates.
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fanatic26_
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December 28, 2018, 05:51:20 PM
Last edit: December 28, 2018, 11:54:32 PM by frodocooper |
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we need as much as possible, not as few manufacturers as possible, to maintain decentralization on a high level
I still dont understand why people have this misguided idea that more manufacturers equals decentralization..... Its like nobody knows what decentralization actually is.... |
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gentlemand
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Welt Am Draht
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December 28, 2018, 06:59:31 PM |
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I still dont understand why people have this misguided idea that more manufacturers equals decentralization.....
Its like nobody knows what decentralization actually is....
Give us a run down of what you're thinking then. It's clearly not in the original spirit of Bitcoin mining however it still has to be the least worst option with things as they are, and things as they are are extremely unlikely to change. More manufacturers means potential different markets, different attitudes to mining with customer equipment and it drives more innovation and cost saving for possible customers. |
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philipma1957
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December 29, 2018, 04:50:58 AM |
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Lack of capital imo, monies were refunded. Hard to have a lengthy pre order when consumers know competitors will be coming out with gear and will certainly match or beat spec with earlier release dates.
Pre orders = high risk Pre orders lose way more then they win. Exceptions Batch 1 s9 six week wait. First batch of Avalon 1 Knc first asic in 2013 These all did well enough. Two were new builders with new gear. |
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minefarmbuy
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We are not retail.
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December 29, 2018, 06:19:14 AM Merited by frodocooper (1) |
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Funny how the GMO thread has turned philosophical in a sense.
More manufacturers allow for decentralization. Essentially you have to look at it like a free market; more competition, more innovation and progression towards a better product in this case.
Zero competition, or a single manufacturer; leads to poor and selfish, "un"-innovative business practices. Shadow mining/extended "burn in testing" is one example. Essentially manufacturers kill the market they desire by mining. Lower the difficulty, the more profits, the more attractive their product.
It's a balance you rarely see or have seen in this area as these are just two extremes of the spectrum to provide relevance.
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kano
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December 29, 2018, 07:00:23 AM |
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...
Exceptions
...
First batch of Avalon 1
Knc first asic in 2013
These all did well enough.
Two were new builders with new gear.
KNC (who wasn't first) built everything using bitcoin community money and basically ripped everyone off. Avalon: this was not their first mining hardware. They made the original Icarus FPGA miners. As for on topic - GMO went the way I expected when I posted about them a year ago  |
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sidehack
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December 29, 2018, 09:32:11 PM |
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I think he means KNC's first ASIC offering, not that KNC had the first ASIC. If I remember right, ASICMiner had the first ASIC and Avalon had the first publicly sold ASIC.
The point was, those hardwares were among the few built on pre-order money but without completely screwing over the customers.
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kano
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December 29, 2018, 09:39:52 PM |
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I think he means KNC's first ASIC offering, not that KNC had the first ASIC. If I remember right, ASICMiner had the first ASIC and Avalon had the first publicly sold ASIC.
The point was, those hardwares were among the few built on pre-order money but without completely screwing over the customers.
KNC did screw the whole bitcoin community over |
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sidehack
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December 29, 2018, 10:05:20 PM |
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Not the ones who were already too broke to buy in!
Also yeah, GMO bailing out is not a surprise at all.
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philipma1957
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December 29, 2018, 11:23:11 PM |
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I think he means KNC's first ASIC offering, not that KNC had the first ASIC. If I remember right, ASICMiner had the first ASIC and Avalon had the first publicly sold ASIC.
The point was, those hardwares were among the few built on pre-order money but without completely screwing over the customers.
Yeah their first asic offering people made good money on. As it was ordered when coins where cheap. Delivered before coins shot up to 1200. Once coins did that then knc became thieves. I was referring to Avalon batch 1 asics as people made good money with them. Avalon went bad after that then became good again. If you grabbed those preorders you did okay. |
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