Rumor that Bitmain is going belly up! can't pay its chip builder!

[Mousem40]

I'm sure the general conclusion is correct but I'm not sure about the numbers?
The price of a T15 is $840-$65 ($775) plus taxes and shipping (it comes with a built in PSU).
In the non US tariff world we don't have such high taxes.

Bitmain is going to zero. If they even think about IPO'ing it will be a Stand up Comedy show instead of a Road show!

[TheYankeesWin!]

In a no tax  country it is 840 + 110 = 950 - 65 - 885
 
So you still gain 28.50 a month over a pair of  used s9i's with 7 cent power.

[philipma1957]

so 885-670 = 215/28.50 = at 7 ½ months  which is much better then  480/28.50 = 16.84 months.

The Trump tax  hurts bitmain  bigtime.

I would argue  that at 7 cent power buying any gear is a tough choice for a USA guy.

If you are a 4 cent guy:

4 x 750 = a 30 cent power savings  new gear
old gear earns  24 more   so net is 6 dollars    

So no 4 cent power guy wants  the new gear  it is only 6 dollars better each month.

This means  only a handful of buyers want the new gear.  6 cent 7 cent  8 cent power guys it makes sense.

maybe 9 cents  and anyone over 9 cents should not mine much right now.

2,3,4,5 cent  should  think old s9i
6,7,8,9 cent  maybe  new gear is better.
10 cent and up no gear.

So a lot of people don't want the gear.

[Norm MacDonald]

2,3,4,5 cent  should  think old s9i

I'm finding brand new S9i 14 th in the states that I can physically pick up and avoid shipping altogether. $220.00 WITH PSU in original unopened box. Then I pop the ASICBoost Frimware upgrade on them and I can't believe how reliable smooth and efficient these units are. These are my favorite of all S9's to date. I'm sub .05 per Kwh so it's an easy call. I have absolutely no reason to even think about these new units. Not to mention, they haven't been running enough to get sense of their reliability. These things could very well turn out to be an RMA fest.

[philipma1957]

I'm finding brand new S9i 14 th in the states that I can physically pick up and avoid shipping altogether. $220.00 WITH PSU in original unopened box. Then I pop the ASICBoost Frimware upgrade on them and I can't believe how reliable smooth and efficient these units are. These are my favorite of all S9's to date. I'm sub .05 per Kwh so it's an easy call. I have absolutely no reason to even think about these new units. Not to mention, they haven't been running enough to get sense of their reliability. These things could very well turn out to be an RMA fest.

A LPM s9i  does 13,700 at 1275watts on the wall  that is 93 watts a th

some LPM  s9i do 13,900 at 1250 watts on the wall that is 90 watt a th

I have been getting them with a psu for 250 usd.

my power deal is  a 50 50 coin split  so it is 6900 th for free  so for me 6-7 month roi.

While I want the new gear  it is still too much $$

So in effect  bitmain has priced this too high  for the USA  unless the buyer is in the 6,7,8 cent power range.

Still a ton of offline hash power available.  If you are USA based buying from new from bitmain vs buying from used from ebay is an easy choice.

[minefarmbuy]

You can still get s9's from bitmain. They're just reluctant to advertise it.

[Norm MacDonald]

You can still get s9's from bitmain. They're just reluctant to advertise it.

Price, Tariffs and shipping make it cost prohibitive.

[minefarmbuy]

Price, Tariffs and shipping make it cost prohibitive.

De minimis value makes these cost effective still. we've provided a cadence for shipments that works for large orders for buyers.

[buwaytress]

So the rumour mill's grinding out more Bitmain-related stuff. From Hong Kong, regulators are saying the industry's too immature for it to allow for it to consider Bitmain's IPO for a go ahead, probably a non-news by itself but then the other reactions seem to say that the company itself is taking that news seriously... this https://cryptonomist.ch/en/2018/12/24/bitmain-news/ news article shows a LinkedIn update from employees usually making the posts, talking about a 50% redundancy plan. Huge contraction underway.

[Wuerger]

I throw my s9 into the trash. If they are sold cheaply, they represent a competitor.

[sidehack]

You should recycle it instead. Lot of places will pay poundage for e-waste, and those things are at least 50% aluminum by weight with, because of their circuit density, a fair bit of copper and plated gold besides.

[Wuerger]

Yes right, my english is very poor. Off course i mean trash = e-waste.

[Norm MacDonald]

Yes right, my english is very poor. Off course i mean trash = e-waste.

Do they work? I'll buy them. Trashing perfectly good machinery doesn't seem too rational.

[Wuerger]

Yes they work. One s15 new, one s9 in the garbage.

[gentlemand]

https://twitter.com/cryptonodon/status/1078947080092102656

https://www.odaily.com/post/5135367

Ever more dramatic tales seem to be popping up. As always in cryptoland the actual truth seems to be rather more sluggish to arrive, if it ever does at all. The above hints at total craterage.

[philipma1957]

https://twitter.com/cryptonodon/status/1078947080092102656

https://www.odaily.com/post/5135367

Ever more dramatic tales seem to be popping up. As always in cryptoland the actual truth seems to be rather more sluggish to arrive, if it ever does at all. The above hints at total craterage.

I googled translated it

https://www.odaily.com/post/5135367

and found a lot of good info.

worth doing it for an interesting read:

"However, according to the news obtained by the Odaily Planet Daily from many parties, Bitcoin spent much more time on developing 12nm and 7nm chips in the first half of this year.
“Bit mainland failed several times, and lost $700 million.” A mining machine practitioner told Odaily Planet Daily.

According to him, the reason for this mistake is the technical problem of the team. Two years after the ant S9, Bitland has not introduced a new machine. In order to maintain the dominance of the mining machine, after the revenue of 2.5 billion US dollars in 2017, Bitland began to develop new machines.

One will be a million bones. On November 8, Bitcoin finally launched the S15 and T15 miners equipped with 7nm chips.

However, it was not long before the currency market began to fall to the bottom. These two expensive new machines are difficult to open to the market."

the quote I lifted from the article and I extrapolate that  the issue of not being able to sell the s15 or t15 direct to usa (trumps tax)  is why bitdeer has been founded.

Just remember bitdeer is selling s9 contracts with s9 power charges and zero proof they use s9's to mine.  

So at 13 cents a th if those new s9 contracts are really using s15 bitmain gets a good helping hand from morons that are buying s9 contracts.

[Norm MacDonald]

DING DING DING!! As per usual, Philipma rings the bell. I have zero doubt that this is true. No shortage of stunned morons in Crypto land...

[kano]

The problem at Bitmain making new miners was their main hardware guy left quite a long time ago.

He now runs Poolin after their agreement that required him to not compete expired.

While many people like to think that anyone can make a miner that performs in the arena of what is required to be able to sell it, the fact is that few can.

[Thetaj]

BitDeer is just luls at this point. Bitmain got hit real hard with that fallout with faketoshi. 

[minefarmbuy]

https://twitter.com/Excellion/status/1104635332274749446

Though there is some insider information, Bitmain selling only 1k units is just false.