[ANN] Spondoolies-Tech - carrier grade, data center ready mining rigs

[TracerX]

In case you missed it, the scheduling should be working in latest FW release.

Exciting!  Thanks for all your hard work on these features, I know we appreciate it.

[Tigggger]

On a final note, I'm not bashing Genesis mining, I think they are, truly one of the real cloud mining providers with real hardware and hashrate to back up their business model, also having Guy and Spondoolies vouch for them goes a long way in my book, its just that for now, for me, cloud mining isn't the solution. But I'll keep an eye out.

There are only 2 types of cloud mining available

Genuine
Backed by real hardware and priced so that the provider makes all their profit up front, buyers take all the risk and if they are really really really really really lucky might start making a profit 6-12 months down the line, but with rising difficulty or falling BTC you can soon see a contract end up cancelled long before that point (see Usimoo, cex etc)
Chance of ROI <5%


Ponzi
Priced so that it appears the buyer will start making a profit in a much shorter timespan to make it appealing. Backed by no hardware at all and the operator runs away as soon as new suckers are sending in less money than the old suckers are withdrawing (see pbmining, hashie and a long list of others)
Chance of ROI <1%

[philipma1957]

So for me, to buy say the equivalent of a SP35 and host it myself vs cloud mining it


SP35: $2235 + $150 shipping = $2385

5TH Cloud: $2232 + $2230 (5000 * 0.446/gh) upfront maintance fee = $4462 >>>>>> you sure it reads this way?

The difference is substantial and thats if you pay it up front.

The "daily charge" of $0.0015/GH works out to $7.5/day or $228/month for 5TH

Just have to compare that to the hosting fees you pay. For me its too close. Cloud mining should be much cheaper than hosted because of economies of scale.

On a final note, I'm not bashing Genesis mining, I think they are, truly one of the real cloud mining providers with real hardware and hashrate to back up their business model, also having Guy and Spondoolies vouch for them goes a long way in my book, its just that for now, for me, cloud mining isn't the solution. But I'll keep an eye out.

[lulu2003]

when the mining is idle (stop), how much power does it use?

sp20: 50 watt (using 1500W Server PSU)

[Genesis-Mining]

Hey All,

Just want to say hi here in the channel. We are happy to do this project together with Spondoolies.
They are reliable and have the most stable and efficient hardware for mass deployment.
Due to the high reputation on both sides within the community we want to be a good example as the most profitable and even importantly "real" cloudmining operation.
Especially the latter one has to be pointed out in these times!

Our framework works extremely well in combination with the Spondoolies miners and we are happy to offer this opportunity with maximized efficiency for you.

Looking forward to the future! Exciting times ahead!

MS

[Genesis-Mining]

So for me, to buy say the equivalent of a SP35 and host it myself vs cloud mining it


SP35: $2235 + $150 shipping = $2385

5TH Cloud: $2232 + $2230 (5000 * 0.446/gh) upfront maintance fee = $4462

The difference is substantial and thats if you pay it up front.

The "daily charge" of $0.0015/GH works out to $7.5/day or $228/month for 5TH

Just have to compare that to the hosting fees you pay. For me its too close. Cloud mining should be much cheaper than hosted because of economies of scale.

On a final note, I'm not bashing Genesis mining, I think they are, truly one of the real cloud mining providers with real hardware and hashrate to back up their business model, also having Guy and Spondoolies vouch for them goes a long way in my book, its just that for now, for me, cloud mining isn't the solution. But I'll keep an eye out.

Biffa, thx for your calculation. I think it is very important for everybody to crunch the numbers and feel comfortable.
Unfortunately I cannot follow you on this line:

5TH Cloud: $2232 + $2230 (5000 * 0.446/gh) upfront maintance fee = $4462

Can you please elaborate where the 2232 USD are coming from? Much appreciated.

MS

[sjc1490]

So for me, to buy say the equivalent of a SP35 and host it myself vs cloud mining it


SP35: $2235 + $150 shipping = $2385

5TH Cloud: $2232 + $2230 (5000 * 0.446/gh) upfront maintance fee = $4462

The difference is substantial and thats if you pay it up front.

The "daily charge" of $0.0015/GH works out to $7.5/day or $228/month for 5TH

Just have to compare that to the hosting fees you pay. For me its too close. Cloud mining should be much cheaper than hosted because of economies of scale.

On a final note, I'm not bashing Genesis mining, I think they are, truly one of the real cloud mining providers with real hardware and hashrate to back up their business model, also having Guy and Spondoolies vouch for them goes a long way in my book, its just that for now, for me, cloud mining isn't the solution. But I'll keep an eye out.

Biffa, thx for your calculation. I think it is very important for everybody to crunch the numbers and feel comfortable.
Unfortunately I cannot follow you on this line:

5TH Cloud: $2232 + $2230 (5000 * 0.446/gh) upfront maintance fee = $4462

Can you please elaborate where the 2232 USD are coming from? Much appreciated.

MS

If the .47 under the 469 isn't the on going maintenance fee and is a breakdown of where the 469 is coming from what is the maintenance fee discussed after you pay the 469 per 1000 GH/s activation fee? I also was confused as to how it is presented on the web page.

[Tigggger]

The $0.47 per GH is what you pay for the contract, the $0.0015 per GH is what you pay for the maintenance.

Some more figures
5,000TH, costs BTC10.08540406 and makes BTC0.02499871 per day
Which means if difficulty never rises again you are looking at 403 days until breakeven is reached.

[luki19994]

It´s little confusing
so the take between 0,49 $ - 0,45$ per GH/s(depend on contract) + 0,446 $ per GH/s upfront + 0,0015$ per GH/s and day ??
Why they don´t ad the fee for contract and the fee upfront together ?
I have yesterday the same problem that i want to see a contract from genesis-mining ,but no chance.
If this wasn´t spondoolies that they recommend , i would be very sceptical.

[Swimmer63]

The $0.47 per GH is what you pay for the contract, the $0.0015 per GH is what you pay for the maintenance.

Some more figures
5,000TH, costs BTC10.08540406 and makes BTC0.02499871 per day
Which means if difficulty never rises again you are looking at 403 days until breakeven is reached.

IMHO Cloud mining has a place in the market.  There are plenty of folks that want the experience (detached as it is) of mining btc.
But for all kinds of reasons they can not, will not go buy a miner.  Cloud mining is the only way they can reasonably share in the experience.
But every cloud miner needs to know - you will never, ever, ever make money cloud mining.  At least not anymore.
I rent my miners out everyday.  They rent for more than it costs to buy the btc from coinbase.  The people I rent to will never make money from renting my rigs. 

I am not bashing cloud mining companies or cloud miners.  I'm just saying don't ever expect a return on your money.  The only reason anyone starts a cloud mining business or rents out their miners is because they can make more money than just running their rigs on their pool.  So yes - you will pay more to cloud mine than the btc you mine is worth.  Just be aware.

[luki19994]

Hmh
so biffa write this :.
 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

and this :
   
Re: [ANN] Spondoolies-Tech - carrier grade, data center ready mining rigs
Today at 10:38:37 AM
  #10931
So for me, to buy say the equivalent of a SP35 and host it myself vs cloud mining it


SP35: $2235 + $150 shipping = $2385

5TH Cloud: $2232 + $2230 (5000 * 0.446/gh) upfront maintance fee = $4462

The difference is substantial and thats if you pay it up front.

The "daily charge" of $0.0015/GH works out to $7.5/day or $228/month for 5TH


and Tigggger write this :

Today at 04:13:06 PM
  #10949
The $0.47 per GH is what you pay for the contract, the $0.0015 per GH is what you pay for the maintenance.

Some more figures
5,000TH, costs BTC10.08540406 and makes BTC0.02499871 per day
Which means if difficulty never rises again you are looking at 403 days until breakeven is reached.

so does 5 TH/s cost 4462$  or 10,085 BTC ?
It´s diffcult to find out by myself when i don´t see a contract on genesis-mining.

 

[Biodom]

Hmh
so biffa write this :.
 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

and this :
   
Re: [ANN] Spondoolies-Tech - carrier grade, data center ready mining rigs
Today at 10:38:37 AM
  #10931
So for me, to buy say the equivalent of a SP35 and host it myself vs cloud mining it


SP35: $2235 + $150 shipping = $2385

5TH Cloud: $2232 + $2230 (5000 * 0.446/gh) upfront maintance fee = $4462

The difference is substantial and thats if you pay it up front.

The "daily charge" of $0.0015/GH works out to $7.5/day or $228/month for 5TH


and Tigggger write this :

Today at 04:13:06 PM
  #10949
The $0.47 per GH is what you pay for the contract, the $0.0015 per GH is what you pay for the maintenance.

Some more figures
5,000TH, costs BTC10.08540406 and makes BTC0.02499871 per day
Which means if difficulty never rises again you are looking at 403 days until breakeven is reached.

so does 5 TH/s cost 4462$  or 10,085 BTC ?
It´s diffcult to find out by myself when i don´t see a contract on genesis-mining.

 

guys, i don't get it why this is so confusing.

Sp-31 is 4.9Th (i don't know how they will attune for +/-10%)
so 4900X0.446=$2185 plus 0.0015X4900X30.5(days)=~224-225/mo. However, this setup will get you 1.72 BTC/mo with current difficulty, which equals $400, getting you just $176/mo "profit'.
Esentially, you pay $2185 upfront, but get $176/mo (initially).
To me, the deal breaker is that they will subtract BTC from your account on a daily basis.
I don't care for such thing: bill my credit card or even bank account in $$, then i am OK, that is it would be the equivalent of slowly buying bitcoin, but to give out more than 50% of mined bitcoin defeats the main purpose, which is bitcoin accumulation.

[aclass]

This was one of my ideas for the cloud. Load your account with $ and let them take the fees from there.

At some point clouds will start doing it. We are yet to see which one will be first

[gbsray]

Has anyone that has upgraded to firmware 2.6.9 seen slightly slower hash rate? I've flashed 6 SP20's and everyone of then is  10-20GH/s slower vs firmware 2.6.4. Just curious if anyone else is seeing the same.

[luki19994]

The Question is if pay upfront and Cost for GH/s is the same?
Because hosting cost are a little differnt depending how much GH/s you buy.
But how i See paying upfront is not the Same because the cost is the Same 0,446 /gh , See contact from biffa.
So again is the fee for contract( 50GH/s , usd 24,49 . 1000GH/s usd 469 . 15TH/s is 6750 usd)
The Same like paying upfront?

[Biodom]

Has anyone that has upgraded to firmware 2.6.9 seen slightly slower hash rate? I've flashed 6 SP20's and everyone of then is  10-20GH/s slower vs firmware 2.6.4. Just curious if anyone else is seeing the same.

choose auto at a fixed upper voltage without adjusting maximum voltage wattage(let it find the sweet spot), then you will get possible maximum hash at a lowest fan (after ~10 min)-to me this gave better numbers while underclocking  than 2.6.1 (did not compare with 2.6.4)

BTW-congrats to zvisha and team-this is a great addition to prior software.

[DiCE1904]

Has anyone that has upgraded to firmware 2.6.9 seen slightly slower hash rate? I've flashed 6 SP20's and everyone of then is  10-20GH/s slower vs firmware 2.6.4. Just curious if anyone else is seeing the same.

choose auto at a fixed upper voltage without adjusting maximum voltage (let it find the sweet spot), then you will get possible maximum hash at a lowest fan (after ~10 min)-to me this gave better numbers while underclocking  than 2.6.1 (did not compare with 2.6.4)

BTW-congrats to zvisha and team-this is a great addition to prior software.

Are you saying something else besides fan now can auto adjust?

If so can you explain in more detail please, very interested

[wpgdeez]

The $0.47 per GH is what you pay for the contract, the $0.0015 per GH is what you pay for the maintenance.

Some more figures
5,000TH, costs BTC10.08540406 and makes BTC0.02499871 per day
Which means if difficulty never rises again you are looking at 403 days until breakeven is reached.

And during that 403 days BTC value could be anywhere from 0 to whatever, which adds even more risk into the equation. And we know the diff won't stay like this forever which makes it an even riskier investment. Then if stuff goes south fast and they shut down like others in the past then your really screwed.

You guys still in the game really like to stack the odds against yourself!

[sjc1490]

Has anyone that has upgraded to firmware 2.6.9 seen slightly slower hash rate? I've flashed 6 SP20's and everyone of then is  10-20GH/s slower vs firmware 2.6.4. Just curious if anyone else is seeing the same.

choose auto at a fixed upper voltage without adjusting maximum voltage (let it find the sweet spot), then you will get possible maximum hash at a lowest fan (after ~10 min)-to me this gave better numbers while underclocking  than 2.6.1 (did not compare with 2.6.4)

BTW-congrats to zvisha and team-this is a great addition to prior software.

I somehow missed this, upgrading one now to give a try. Thanks.

[sjc1490]

Biodom, where is the auto that you were posting about for upper volt limit? I upgraded to 2.6.9 but don't see it. I see a scheduling feature which is new.