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Author Topic: [ANN] Spondoolies-Tech - carrier grade, data center ready mining rigs  (Read 1256123 times)
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January 21, 2015, 06:03:33 PM
 #10821


Actually, with all due respect, i think that Guy has a puzzling perspective as seen at the very end. He thinks (as many others as well) that small dumping by miners somehow creates a vicious downward cycle. However, right now this is just 3600 coins a day or 100K coins a month (measly $20 mil $$ in a month which is nothing in comparison with world debt and money issuance) while we already have almost 14 mil coins. If there will be more interest in acquiring these coins from the general public, miners selling pressure would be overwhelmed. When the balance will occur, i don't know, but it is certainly not permanent.
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January 21, 2015, 06:13:58 PM
 #10822


Actually, with all due respect, i think that Guy has a puzzling perspective as seen at the very end. He thinks (as many others as well) that small dumping by miners somehow creates a vicious downward cycle. However, right now this is just 3600 coins a day or 100K coins a month (measly $20 mil $$ in a month which is nothing in comparison with world debt and money issuance) while we already have almost 14 mil coins. If there will be more interest in acquiring these coins from the general public, miners selling pressure would be overwhelmed. When the balance will occur, i don't know, but it is certainly not permanent.

Coins are not trading at high volume.
That small volume controls the price of coins.
If 100 million  a month  was spent buying  coins for 3 months  it would drive the market up a lot.

I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
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January 21, 2015, 06:21:36 PM
 #10823


Actually, with all due respect, i think that Guy has a puzzling perspective as seen at the very end. He thinks (as many others as well) that small dumping by miners somehow creates a vicious downward cycle. However, right now this is just 3600 coins a day or 100K coins a month (measly $20 mil $$ in a month which is nothing in comparison with world debt and money issuance) while we already have almost 14 mil coins. If there will be more interest in acquiring these coins from the general public, miners selling pressure would be overwhelmed. When the balance will occur, i don't know, but it is certainly not permanent.

Coins are not trading at high volume.
That small volume controls the price of coins.
If 100 million  a month  was spent buying  coins for 3 months  it would drive the market up a lot.


that's my point exactly: selling from miners is miniscule (even at 100% it is just $20 mil/month, so it it has to be lower than even that number). To me it indicates zero interest from wall street in bitcoin as an asset, nothing more, but this could change.
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January 21, 2015, 07:55:55 PM
 #10824

that's my point exactly: selling from miners is miniscule (even at 100% it is just $20 mil/month, so it it has to be lower than even that number). To me it indicates zero interest from wall street in bitcoin as an asset, nothing more, but this could change.

Dumping almost 1% of the total btc in existence per month is not "miniscule" in my book.
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January 23, 2015, 05:54:48 AM
 #10825

I've missed Bitcointalk Smiley

Zvisha implemented the scheduler, please give it a try: http://www.spondoolies-tech.com/blogs/technical-blog

Also, we're doing soft launch of our cloud mining offerings. It's partnership with Genesis Mining.
We're brining small amount of hash power online in our Israeli DC. Upon selling of contracts, we'll ship mining gear to cover the contracts to Genesis Mining DC in Iceland.

Guy

New Mimblewimble implementation: https://www.beam.mw
Spondoolies is back with the SPx36: https://www.spondoolies-tech.com/products/spx36
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January 23, 2015, 05:58:08 AM
 #10826

I've missed Bitcointalk Smiley

Zvisha implemented the scheduler, please give it a try: http://www.spondoolies-tech.com/blogs/technical-blog

Also, we're doing soft launch of our cloud mining offerings. It's partnership with Genesis Mining.
We're brining small amount of hash power online in our Israeli DC. Upon selling of contracts, we'll ship mining gear to cover the contracts to Genesis Mining DC in Iceland.

Guy

so are you like the rest of the industry...getting completely out of the 'consumer' end of the mining equip side (ie no token type sp20 units anymore or equiv in the future
for those dense of us who would like to at least 'try' to home mine in the future..yeah yeah...I know still dream about 500 usd btc where this may be possible) or has
that dream left the barn .....like all the other asic manufacturer's seem to have stated as well?


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Guy Corem
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January 23, 2015, 06:04:10 AM
 #10827

I've missed Bitcointalk Smiley

Zvisha implemented the scheduler, please give it a try: http://www.spondoolies-tech.com/blogs/technical-blog

Also, we're doing soft launch of our cloud mining offerings. It's partnership with Genesis Mining.
We're brining small amount of hash power online in our Israeli DC. Upon selling of contracts, we'll ship mining gear to cover the contracts to Genesis Mining DC in Iceland.

Guy

so are you like the rest of the industry...getting completely out of the 'consumer' end of the mining equip side (ie no token type sp20 units anymore or equiv in the future
for those dense of us who would like to at least 'try' to home mine in the future..yeah yeah...I know still dream about 500 usd btc where this may be possible) or has
that dream left the barn .....like all the other asic manufacturer's seem to have stated as well?


We still expect most of our revenues to come from hardware sales. We got a lot of requests for cloud mining offerings, and we believe we're doing it the right way by partnering with Genesis Mining.

New Mimblewimble implementation: https://www.beam.mw
Spondoolies is back with the SPx36: https://www.spondoolies-tech.com/products/spx36
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January 23, 2015, 06:14:33 AM
 #10828

I've missed Bitcointalk Smiley

Zvisha implemented the scheduler, please give it a try: http://www.spondoolies-tech.com/blogs/technical-blog

Also, we're doing soft launch of our cloud mining offerings. It's partnership with Genesis Mining.
We're brining small amount of hash power online in our Israeli DC. Upon selling of contracts, we'll ship mining gear to cover the contracts to Genesis Mining DC in Iceland.

Guy

so are you like the rest of the industry...getting completely out of the 'consumer' end of the mining equip side (ie no token type sp20 units anymore or equiv in the future
for those dense of us who would like to at least 'try' to home mine in the future..yeah yeah...I know still dream about 500 usd btc where this may be possible) or has
that dream left the barn .....like all the other asic manufacturer's seem to have stated as well?


We still expect most of our revenues to come from hardware sales. We got a lot of requests for cloud mining offerings, and we believe we're doing it the right way by partnering with Genesis Mining.

Yes Marco is good people they do have a lot of experience and mining power already on the network. They are very professional unlike other offering in the "cloud".

Dogie trust abuse, spam, bullying, conspiracy posts & insults to forum members. Ask the mods or admins to move Dogie's spam or off topic stalking posts to the link above.
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January 23, 2015, 06:19:08 AM
 #10829

I've missed Bitcointalk Smiley

Zvisha implemented the scheduler, please give it a try: http://www.spondoolies-tech.com/blogs/technical-blog

Also, we're doing soft launch of our cloud mining offerings. It's partnership with Genesis Mining.
We're brining small amount of hash power online in our Israeli DC. Upon selling of contracts, we'll ship mining gear to cover the contracts to Genesis Mining DC in Iceland.

Guy

so are you like the rest of the industry...getting completely out of the 'consumer' end of the mining equip side (ie no token type sp20 units anymore or equiv in the future
for those dense of us who would like to at least 'try' to home mine in the future..yeah yeah...I know still dream about 500 usd btc where this may be possible) or has
that dream left the barn .....like all the other asic manufacturer's seem to have stated as well?


We still expect most of our revenues to come from hardware sales. We got a lot of requests for cloud mining offerings, and we believe we're doing it the right way by partnering with Genesis Mining.

Yes Marco is good people they do have a lot of experience and mining power already on the network. They are very professional unlike other offering in the "cloud".
Genesis Mining is the most trustable cloud mining provider and I'm proud about this partnership. I know Genesis Mining management personally and I consider them friends.

New Mimblewimble implementation: https://www.beam.mw
Spondoolies is back with the SPx36: https://www.spondoolies-tech.com/products/spx36
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January 23, 2015, 06:28:29 AM
 #10830

I've missed Bitcointalk Smiley

Zvisha implemented the scheduler, please give it a try: http://www.spondoolies-tech.com/blogs/technical-blog

Also, we're doing soft launch of our cloud mining offerings. It's partnership with Genesis Mining.
We're brining small amount of hash power online in our Israeli DC. Upon selling of contracts, we'll ship mining gear to cover the contracts to Genesis Mining DC in Iceland.

Guy

so are you like the rest of the industry...getting completely out of the 'consumer' end of the mining equip side (ie no token type sp20 units anymore or equiv in the future
for those dense of us who would like to at least 'try' to home mine in the future..yeah yeah...I know still dream about 500 usd btc where this may be possible) or has
that dream left the barn .....like all the other asic manufacturer's seem to have stated as well?


We still expect most of our revenues to come from hardware sales. We got a lot of requests for cloud mining offerings, and we believe we're doing it the right way by partnering with Genesis Mining.

well imho you will definitely have a 'niche' everyone seems to be going 'completely' commercial or cloud mining etc...one of the other
 (like KNC) and with that in mind...you likely will be even better off
then the sp20 in sales imho simply because of the rareness of making a small miner in the future....so yeah make the big machines but I think a lot of us would appreciate it if you managed to at least 'chip a piece' off the bigger units and toss them in a box like the sp20 ..for at least an  'attempt' to 'eventually' pick up something like that..I have hope for the future BTC price where this is possible at $220  a BTC and 15ckwh elec costs.... in my neck of the woods..er not so much possible now....but then again some hope is better then no hope don't ya know...er equip wise owned vs cloud as an option  for this arguments sake....at 500 usd a BTC this could do really well if the price came back at that..but again at least you all
seem 'open' to such an option ..unlike others in the industry

again appreciate you addressing this as an option ..you may not have any idea either but at least you answer our questions on here promptly (as lame as they may be in my case)

it is a ray on sunshine in the 'cloudy' dark asic mnfg business as it exists today imho

again thanks for your updates on this forum we all appreciate it (esp genesis mining ...er never heard of it before your post) trust your opinion will also take that into consideration




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January 23, 2015, 06:44:09 AM
 #10831

...
again thanks for your updates on this forum we all appreciate it (esp genesis mining ...er never heard of it before your post) trust your opinion will also take that into consideration




Genesis Mining started with Alts and GPUs in the beginning of 2014.
They quickly grew their business. It's 100% backed by real hardware.
They had quite a lot of coverage in the media.
Example: https://www.cryptocoinsnews.com/genesis-mining-explaining-largest-scrypt-cloudmining-provider/
You can see a picture of Marco Streng the CEO in their Icelandic DC here: http://asicscrypt.com/marco-streng-ceo-genesis-mining-talks-project-x-cloud-mining/

Guy

New Mimblewimble implementation: https://www.beam.mw
Spondoolies is back with the SPx36: https://www.spondoolies-tech.com/products/spx36
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January 23, 2015, 08:36:24 AM
 #10832

It's 100% backed by real hardware.

Although your word is nice, a publicly disclosed mining address would be better.
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January 23, 2015, 08:51:58 AM
 #10833

It's 100% backed by real hardware.

Although your word is nice, a publicly disclosed mining address would be better.
Why do you assume it's one mining address?
I've seen different implementation in the industry.

New Mimblewimble implementation: https://www.beam.mw
Spondoolies is back with the SPx36: https://www.spondoolies-tech.com/products/spx36
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January 23, 2015, 09:05:48 AM
 #10834

It's 100% backed by real hardware.

Although your word is nice, a publicly disclosed mining address would be better.
Why do you assume it's one mining address?
I've seen different implementation in the industry.

Does it really matter?

If they have X PH/s, why can't they point X PH/s to an address (or addresses) to prove they aren't running a fractional reserve?
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January 23, 2015, 09:10:16 AM
 #10835

It's 100% backed by real hardware.

Although your word is nice, a publicly disclosed mining address would be better.
Why do you assume it's one mining address?
I've seen different implementation in the industry.

Does it really matter?

If they have X PH/s, why can't they point X PH/s to an address (or addresses) to prove they aren't running a fractional reserve?
Sure, they can do that but then they won't fulfill their contracts...
We're working on different mechanism to show cryptographic proof of hash rate without service interruption in our next gen. More details soon.

New Mimblewimble implementation: https://www.beam.mw
Spondoolies is back with the SPx36: https://www.spondoolies-tech.com/products/spx36
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January 23, 2015, 09:32:27 AM
 #10836

technical one:

Quote from: SP BLOG
The simplest way to underclock it is by setting limit to ASIC voltage. Don't touch the PSU watt limitation.

why? hard facts not to throttle a certain loop by psu limit in settings?
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January 23, 2015, 09:46:17 AM
 #10837

  A very simple question about genesis .  what is the maintenance fee?
I went to the site and it said look at the contract.
 That is a problem since I can't find a contract.
 As it appears I must sign  up to see a contract.


 The price is 469 for  1 th  now if maintenance fee is  0 a month for 1 th   growth is 0 plus freeze btc at 225  I break even in  182 days
 
------------------------------------------------------------- 20 ----------------------------------------------------------------------------------237 days

_________________________________________40____________________________________ ___________________342 days
____

So I won't argue about diff change or network growth  I won't argue price of coin.   I used 0% growth and froze coin at 225


but they need to show  m-fee clear  and they need to do it now.  They need to show contracts without a signup.

  It is 4:45 am I may have missed the fees , but I would like to see the fees.


I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
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January 23, 2015, 09:52:08 AM
 #10838

 A very simple question about genesis .  what is the maintenance fee?
I went to the site and it said look at the contract.
 That is a problem since I can't find a contract.
 As it appears I must sign  up to see a contract.


 The price is 469 for  1 th  now if maintenance fee is  0 a month for 1 th   growth is 0 plus freeze btc at 225  I break even in  182 days
 
------------------------------------------------------------- 20 ----------------------------------------------------------------------------------237 days

_________________________________________40____________________________________ ___________________342 days
____

So I won't argue about diff change or network growth  I won't argue price of coin.   I used 0% growth and froze coin at 225


but they need to show  m-fee clear  and they need to do it now.  They need to show contracts without a signup.

  It is 4:45 am I may have missed the fees , but I would like to see the fees.



Once you start the buy process you have to agree the contract which stipulates:

2. Remuneration
As a consideration for the Services the Customer agrees to pay to the Service Provider an amount of (the "Fee"):  
a. 0.446 USD per GH/s upfront
b. USD 0.0015 per GH/s and day, deducted on a daily basis* from the generated Coins

Full contract link here: https://www.genesis-mining.com/upgrade-hashpower/universal/summary#contract-sha256

For me, one of the major things (apart from the fees) is the pool, unless I can choose the pool, or at the very least Genesis discloses the pool(s) they are currently mining on its a no deal.

Mine at pools that pay transaction fees & don't mine empty blocks :: kanopool :: ckpool ::
:: Dalcore's Crypto Mining H/W Hosting Directory & Reputation ::
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January 23, 2015, 09:56:36 AM
 #10839

Seems the link is hard coded. So for those who don't want to sign up before seeing the contract, here is the current (as of today) version:

Quote
Mining Capacity Share Agreement
sha256

MINING CAPACITY SHARE AGREEMENT

I (the "Customer") agree with the following terms and conditions for the provision of mining services (the "Agreement") made as of today
between :
Genesis Mining LTD, 3rd Floor, Par La Ville Place, 14 Par-la-Ville Road, Hamilton HM 08, Bermuda, ("Service Provider"); and
me, the Customer.

Pursuant to the terms of this Agreement, the Service Provider will make available to the Customer shares in the mining capacity of the Service Provider.

1. Services
The Service Provider agrees to provide to the Customer with the output of its mining capacity (the "Services") subject to the following terms:

Available Technology: SHA-256 Hashing

Term: The contract has no fixed and predetermined end date.

Mining Power: 1 TH/s

Payout frequency: daily

Mining Output ("Coins"): as agreed between Service Provider and Costumer, and, where applicable converted from time to time, e.g., Bitcoin or other electronic currencies

The Customer will be solely liable for the maintenance of the relevant technical equipment (software/hardware) that is required to receive the above service. The Customer will receive Coins mined in accordance with the above Mining Power and of applicable Fees as per 2.b. The Customer also acknowledges that the above Services will be rendered on a best effort basis (bestes Bemühen).  The availability of the Mining Power and, accordingly, the output of Coins may vary up to a maximum of 5%. Otherwise, the Service Provider ensures that it maintains all facilities and the relevant supplies in good working order, in order to avoid any of the above volatility with the diligence that it applies in its own dealings (diligencia quam in suis).

2. Remuneration
As a consideration for the Services the Customer agrees to pay to the Service Provider an amount of (the "Fee"):  
a. 0.446 USD per GH/s upfront
b. USD 0.0015 per GH/s and day, deducted on a daily basis* from the generated Coins

3. Limitation of Liability
Without detriment to the Service Providers obligation to render the Services on a best effort basis, only, any liability of the Service Provider hereunder and or in connection with this Agreement shall be limited to willful misconduct (Vorsatz) and gross negligence (grobe Fahrlässigkeit). Further, the Service Provider shall not be liable for any damages incurred by the Customer as a result of force majeur which shall include any disruption or breakdown of a Coin market.

4. Term
This Agreement is entered into for the term indicated above.
The Service Provider may terminate this Agreement with immediate effect if the Coins generated in the preceding 20 days do not suffice to pay the Fee under 2.b above.
Otherwise, this Agreement may only be terminated by either party for good cause (aus wichtigem Grund).
In the event of a termination for good cause by the Customer, and, for the avoidance of doubt in any such event, the Customer shall be entitled to a repayment of item 2.a above in the proportion of the time lapsed since the beginning of the Term divided by the Term.
In case the Service Provider voluntarily agrees to refund the Customer, a processing fee of USD 10 will be deducted.
5. Communication
All communication between the Service Provider and the Customer shall be made in writing which includes e-mail and other electronic messaging services (Textform).

6. Data Protection
The Customer agrees to the processing of its personal data provided in the context of this Agreement for the purpose described herein and also agrees, until revocation at any time to the storage of its data beyond the above Term. Should the Service Provider be required to obtain any further data in the context of providing its services hereunder, the Customer will without undue delay provide the relevant data so required by the Service Provider

7. Representations and Warranties
The Customer represents and warrants to the Service Provider that he is familiar with mining, crypto currencies and Bitcoin in particular and that he understands the nature and uses of mining crypto currencies and Bitcoin.

The Customer further represents and warrants that he will be the beneficial owner of the Coins.

8. Credit Card Services through Credit Card Service Provider
The following provisions under this section 8 only apply to the extent the Services are paid by credit card:

The Service Provider uses third party services and such third party’s affiliates services which enable the Customer to place monetary deposits and perform transfer of payments within the website of the Service Provider by making use of the Customers existing credit card (as and if available and applicable) (the “Credit Card Services” and the “Credit Card Service Provider”). The Credit Card Services do not include any additional service, and such Credit Card Services do not Customers account.

The Service Provider may share and transfer (including cross border transfer) personal information with the Credit Card Service Provider for the purpose of rendering the Credit Card Services which will be made to Service Providers website via the use of the Customers credit card. The personal information will be shared with the Credit Card Service Provider after the Customer elects to execute such monetary payments by using the Credit Card Services of the Credit Card Service Provider. For the purpose of this section 8 personal information shall include information that identifies or may identify the Customer including the information submitted by the Customer through the registration form when you subscribe to the website such as the Customers E-mail address, country and city and/or information provided through social websites or any other identifying information provided by the Customer while using the Services of the Service Providers website.

In addition, the Service Provider may transfer any non-personal information provided by the Customer through the Customers use of the Services on the Service Providers website to the Credit Card Service Provider in order to allow the Credit Card Service Provider to perform preliminary examinations of non-personal information for the purpose of determining if the Customer is qualified to use the Credit Card Services of such Credit Card Service Provider (including the history of the Customers transactions on the website which will be provided without any identifying information and solely for the purpose examinations of the Credit Card Service Provider).

By accepting these terms, the Customer represents that any and all information the Customer provides to the Service Provider is true and accurate. Any false or fraudulent information and/or use of the Services and/or Credit Card Services rendered to the Customer, is prohibited.

The Customer is not obligated by law to provide the Service Provider and/or the Credit Card Service Provider with any personal information. The Customer hereby acknowledges and agrees that he is providing the Service Provider and/or the Credit Card Service Provider with personal information at his/her own free will, for the purposes of rendering the Services and/or Credit Card Services.

By using the Credit Card Services the Customer hereby agrees and accepts that he will not be allowed and shall be prohibited from withdrawing any amounts that the Customer has deposited and/or is entitled to as a result of the Services rendered by the Service Provider for a period of 30 days. In case the payment by the Customer results in a charge-back or other material issues occur, the Service Provider is entitled to keep all existing, current and future Mining Output.

9. Governing Law, Language and Miscellaneous
This Agreement is governed by German law. To the extent permitted by applicable law the parties agree that the competent courts of Munich shall have non-exclusive jurisdiction to hear and determine any suit, action or proceeding, and to settle any disputes, which may arise out of or in connection with this Agreement
This Agreement is made in the English language and this English language version of this Agreement shall be binding on the parties hereto and shall prevail over any translation of this Agreement provided that in the case of any German translation of a word or phrase in the text of this Agreement, such German translation of such word or phrase shall prevail



*if, on any day, Coins generated on one day do not suffice to pay item 2 of the Fee above, the Service Provider may use Coins generated on any day thereafter for such payment.
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I checked for hashrate purchases up to 5TH and the rate was the same, so no sliding scale of charges that I can see

Mine at pools that pay transaction fees & don't mine empty blocks :: kanopool :: ckpool ::
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Spondoolies, Beam & DAGlabs


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January 23, 2015, 10:22:28 AM
 #10840

...
For me, one of the major things (apart from the fees) is the pool, unless I can choose the pool, or at the very least Genesis discloses the pool(s) they are currently mining on its a no deal.
It's a feature request we've asked GM to implement down the road.

New Mimblewimble implementation: https://www.beam.mw
Spondoolies is back with the SPx36: https://www.spondoolies-tech.com/products/spx36
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