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

[RoadStress]

Offtopic:

Congratulations to Adam and the other members of Blockstream: http://blockstream.com/
The white paper: http://blockstream.com/sidechains.pdf

Exciting times ahead.

Guy

https://www.blockstream.com/2015/06/08/714/

Long-awaited! Thanks.

[HerbPean]

“Spondoolies-Tech is hard at work developing a third-generation ASIC,” Guy Corem said in an interview with Bitcoin Magazine. “The new ASIC is aiming for a 4X improvement over the efficiency of the second-generation unit. The new ASIC will allow the merged company to secure a significant percentage of the hash rate.”

While the combined company doesn’t intend on focusing too much on developing products for the general population, that hasn’t stopped it from coming up with new chips to launch this summer.

from https://bitcoinmagazine.com/20792/bitcoin-shop-inc-btcs-spondoolies-tech-move-forward-merger/

[Biodom]

“Spondoolies-Tech is hard at work developing a third-generation ASIC,” Guy Corem said in an interview with Bitcoin Magazine. “The new ASIC is aiming for a 4X improvement over the efficiency of the second-generation unit. The new ASIC will allow the merged company to secure a significant percentage of the hash rate.”

While the combined company doesn’t intend on focusing too much on developing products for the general population, that hasn’t stopped it from coming up with new chips to launch this summer.

from https://bitcoinmagazine.com/20792/bitcoin-shop-inc-btcs-spondoolies-tech-move-forward-merger/

Why being optimistic about this when we, as a mining community, will get nothing (no miners)?
I think that it (mining by 3-4 large companies) is a dead end for bitcoin.
Incidentally, transaction validation pays peanuts (currently ~3K/day for all mining)

[HerbPean]

“Spondoolies-Tech is hard at work developing a third-generation ASIC,” Guy Corem said in an interview with Bitcoin Magazine. “The new ASIC is aiming for a 4X improvement over the efficiency of the second-generation unit. The new ASIC will allow the merged company to secure a significant percentage of the hash rate.”

While the combined company doesn’t intend on focusing too much on developing products for the general population, that hasn’t stopped it from coming up with new chips to launch this summer.

from https://bitcoinmagazine.com/20792/bitcoin-shop-inc-btcs-spondoolies-tech-move-forward-merger/

Why being optimistic about this when we, as a mining community, will get nothing (no miners)?
I think that it (mining by 3-4 large companies) is a dead end for bitcoin.
Incidentally, transaction validation pays peanuts (currently ~3K/day for all mining)

They are optimistic for their shareholder or anyone buying stocks (investment in the company)

[TracerX]

They are optimistic for their shareholder or anyone buying stocks (investment in the company)

Which is still a valid mechanism to find a return in the mining business.  I would invest in a public offering, although it's likely to be private rounds.

[Biodom]

They are optimistic for their shareholder or anyone buying stocks (investment in the company)

Which is still a valid mechanism to find a return in the mining business.  I would invest in a public offering, although it's likely to be private rounds.

you can buy it already on the pink sheets (OTC): BTCS ($0.21, market cap $35 mil)
Since it is a merger of equals, whatever new company will be called, current shareholders in BTCS probably will get at least ~50% of new company equity.

EDIT: Nevermind, the article specifies that BTCS gets 53% of equity if the merger goes through.
Honestly, I don't see what BTCS brings to the table except cash.
They are basically a user with ~$2k/day revenue from their current mining operation ((0.98/373)X3600X229).

[TracerX]

They are optimistic for their shareholder or anyone buying stocks (investment in the company)

Which is still a valid mechanism to find a return in the mining business.  I would invest in a public offering, although it's likely to be private rounds.

you can buy it already on the pink sheets (OTC): BTCS ($0.21, market cap $35 mil)
Since it is a merger of equals, whatever new company will be called, current shareholders in BTCS probably will get at least ~50% of new company equity.

EDIT: Nevermind, the article specifies that BTCS gets 53% of equity if the merger goes through.
Honestly, I don't see what BTCS brings to the table except cash.
They are basically a user with ~$2k/day revenue from their current mining operation ((0.98/373)X3600X229).

Cool man, I didn't realize there were pinks for this.  That's what I get for not looking!

[dogie]

Honestly, I don't see what BTCS brings to the table except cash.

What else do you need, 1xnm is crazy expensive and needs to be paid for somehow.

[mavericklm]

I feel a bit betrayed...
they took the money in preorders and grew on the backs of the small miners
now that they are at other level, they say: adios!
....

[padrino]

I feel a bit betrayed...
they took the money in preorders and grew on the backs of the small miners
now that they are at other level, they say: adios!
....

betrayed? Did they deliver the product you paid for and correct for any gap in performance with refunds? Sounds like they did exactly what they said they would do..

[Swimmer63]

I feel a bit betrayed...
they took the money in preorders and grew on the backs of the small miners
now that they are at other level, they say: adios!
....

betrayed? Did they deliver the product you paid for and correct for any gap in performance with refunds? Sounds like they did exactly what they said they would do..

As with any business they will do what they believe is necessary to maximize return for their investors.
You can't expect a business to make emotional decisions.

If btc was worth more another group would come in and take their place in the retail market.  But right now I don't think it's worth it for a new mining company to focus on retail.

[RoadStress]

I feel a bit betrayed...
they took the money in preorders and grew on the backs of the small miners
now that they are at other level, they say: adios!
....

Isn't how business are supposed to grow? Do you know another way? At least they didn't went full retard mode like KnC did.

[Tigggger]

I feel a bit betrayed...
they took the money in preorders and grew on the backs of the small miners
now that they are at other level, they say: adios!
....

Isn't how business are supposed to grow? Do you know another way? At least they didn't went full retard mode like KnC did.

Indeed, whilst it's sad there is no other machines for home miners, SP have been a beacon of light amongst all the other scummy companies.

[Unacceptable]

Buisiness's & Corporations are not supposed to have a heart or a soul,profit is the ONLY thing driving them  

Look at our political system (US),it is owned by the Corporations,so will Bitcoin be,the only reason Spoondolies/Bitfury/KnC will care about Bitcoin is the profit margin  

Here's hoping BTC hits new lows,like $50  

[klintay]

I feel a bit betrayed...
they took the money in preorders and grew on the backs of the small miners
now that they are at other level, they say: adios!
....

dude where are they going? From what I understand they are still making miners!!

[dogie]

I feel a bit betrayed...
they took the money in preorders and grew on the backs of the small miners
now that they are at other level, they say: adios!
....

dude where are they going? From what I understand they are still making miners!!

Not for you anyway. BCTS will have exclusive rights over future miners.

BTCS purchased a 6.6 percent equity interest in Spondoolies, and received certain exclusivity rights and pricing for current and future Spondoolies' products

[Biomech]

I feel a bit betrayed...
they took the money in preorders and grew on the backs of the small miners
now that they are at other level, they say: adios!
....

dude where are they going? From what I understand they are still making miners!!

Not for you anyway. BCTS will have exclusive rights over future miners.

BTCS purchased a 6.6 percent equity interest in Spondoolies, and received certain exclusivity rights and pricing for current and future Spondoolies' products

Maybe.

That's a rather vague statement. I could simply mean they get first shot at them, or that they get them first, all the way through control of product marketing. Without seeing the specific language, we have no idea what is exclusive to them.

[bigblind]

One of my Sp20s is not booting anymore.

I switched the watts to 155 per ASIC and now it doesnt even give a livingsign. I clicked restart mining and it just shows up "its not available". Switched it off and now its not starting. Can anybody help me? Not even the fans are turning on. I already checked the PSU, which is fine.

[Dr Charles]

One of my Sp20s is not booting anymore.

I switched the watts to 155 per ASIC and now it doesnt even give a livingsign. I clicked restart mining and it just shows up "its not available". Switched it off and now its not starting. Can anybody help me? Not even the fans are turning on. I already checked the PSU, which is fine.

Try re-flashing the SD card with a fresh firmware.

[dogie]

I feel a bit betrayed...
they took the money in preorders and grew on the backs of the small miners
now that they are at other level, they say: adios!
....

dude where are they going? From what I understand they are still making miners!!

Not for you anyway. BCTS will have exclusive rights over future miners.

BTCS purchased a 6.6 percent equity interest in Spondoolies, and received certain exclusivity rights and pricing for current and future Spondoolies' products

Maybe.

That's a rather vague statement. I could simply mean they get first shot at them, or that they get them first, all the way through control of product marketing. Without seeing the specific language, we have no idea what is exclusive to them.

It could absolutely mean either, yes. It appears to represent that they have control over the generation, so its up to them what they do with it. For example they could keep it to themselves until they fill most of their capacity then sell it to 'consumers' [other big ass farms]. Do remember that they'll also have every incentive not to screw the ST part of the business as they'll be majority shareholders, so even if it means waiving their first dibs they may just sell to others from the start if its the most profitable.