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

[sidehack]

Pretty much all my theories on how to run a business break down in the face of overwhelming greed. But then, so do a lot of things; for reference, note the root causes of pretty much every economic depression. Just because it's not how everyone's doing business doesn't mean it's not possible to do business that way. I think not openly screwing over your customers in every possible way is probably a better business strategy for long-term viability. But, as Spondoolies proved, it hurts in the short term when everyone else is being as evil as possible to rake in money hand over fist in a market where, apparently, most customers would rather be knowingly screwed over than treated decently if it saves a dollar in the short term.

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[klondike_bar]

Did not think about it but with message coming out Sunday about stopping operations wonder if anyone made money going against BTCS stock Monday at opening- http://finance.yahoo.com/echarts?s=BTCS+Interactive#{%22range%22:%225d%22,%22allowChartStacking%22:true}

And this thread sure is interesting to watch to say the least.

Its not easy to trade an illiquid penny stock on something like OTC as no ones going to give you a short position so once the stale order book gets eaten through it doesn't matter what the price is because you can't trade. The volumes even in the last few days are quite low, in the order of $200,000 over the last 5 days from their market cap of $20M odd. Unfortunately BTCS has quite a few creditors are vendors who received payment in stock so this is going to hurt many a business.

My broker does not allow sortng of pinks/OTC or i would have. but as you said, there may only be a few hundred shares bridging a $2 price difference

Im surprised it hasnt tanked further TBH. that sort of news pretty much dooms BTCS as their website is useless and thier mining doesn't have the SP50 contract.

[dogie]

Did not think about it but with message coming out Sunday about stopping operations wonder if anyone made money going against BTCS stock Monday at opening- http://finance.yahoo.com/echarts?s=BTCS+Interactive#{%22range%22:%225d%22,%22allowChartStacking%22:true}

And this thread sure is interesting to watch to say the least.

Its not easy to trade an illiquid penny stock on something like OTC as no ones going to give you a short position so once the stale order book gets eaten through it doesn't matter what the price is because you can't trade. The volumes even in the last few days are quite low, in the order of $200,000 over the last 5 days from their market cap of $20M odd. Unfortunately BTCS has quite a few creditors are vendors who received payment in stock so this is going to hurt many a business.

My broker does not allow sortng of pinks/OTC or i would have. but as you said, there may only be a few hundred shares bridging a $2 price difference

Im surprised it hasnt tanked further TBH. that sort of news pretty much dooms BTCS as their website is useless and thier mining doesn't have the SP50 contract.

Its not $2 difference, its $0.02. The entirety of their order book down to $0.0001 is only worth approximately $55k on a cap of $15.2m. In their own SEC filings they say there isn't a liquid market for their shares and there never may be, and yet they want to uplist to NYSE?

http://www.otcmarkets.com/stock/BTCS/quote

[Unacceptable]

"You can't cheat an honest person"

People got "ripped off" on ASICs because they thought someone was going to sell them a magic money machine for less than the amount of money said machine would magically create. #fail

Thank you Josh Zerlan !!!!!!!!!!!!!   

[edgar]

TIL - you cant rape a fully clothed person..

Spastic logic!!

Jimbo & Searing, you're needed... Call in Phonie x, for the triforce of R-Tards

[Ultrafinery]

Meanwhile, back in the mysterious Orient, there was much merriment and rejoicing...

[tntdgcr]

Meanwhile, back in the mysterious Orient, there was much merriment and rejoicing...

context ?

and it's sad to see SP go. some of the best HW $ for $ , performance , long value over 18 mo thus far. SP20s are legends of a HW generation.

[dogie]

SP20s are legends of a HW generation.

Why the SP20? It strugged to reach its stock speed, was loud as hell and not particularly efficient. The real game changer was the SP10.

[sidehack]

But the SP20 isn't as loud (or at least isn't nearly as annoying) as the SP10; the form factor also made it more accessible than the SP20's rack case. And because the core voltage is fully adjustable it's still viable at some consumer-available electric rates a year and a half after it was introduced. I think that was his point.

[philipma1957]

But the SP20 isn't as loud (or at least isn't nearly as annoying) as the SP10; the form factor also made it more accessible than the SP20's rack case. And because the core voltage is fully adjustable it's still viable at some consumer-available electric rates a year and a half after it was introduced. I think that was his point.

yeah the ability to alter the watts per gh  was very good.

overclock raise volts  and do 1400gh at .65-.70 watts per gh

or downclock lower volts and do 900gh at  at .43-.46 watts a gh  was a good feature.

too bad no one sells miners  like this at the moment.


An s-9 that would allow for .07 to .13 watts a gh would be nice.

In fact any gear that allows a .07 to .13 watt a gh would be nice.

[finbad]

I dont get it though,  if so hard pressed for cash why not plug in all the inventory and gnereate BTC?

[dogie]

I dont get it though,  if so hard pressed for cash why not plug in all the inventory and gnereate BTC?

Found the problem.

[AleScamHole]

I dont get it though,  if so hard pressed for cash why not plug in all the inventory and gnereate BTC?

Found the problem.

yupp haha.  they don't have any. they sold it all , and i still believe gave the rest to genesis, who then most likely proceeded to screw them with over-evaluated future profit numbers, effectively putting them out of business as the money never came.

theres no reason they should have went down otherwise, imo.   were their 0.16 chips real? (the SP50 chips i believe)

[finbad]

AH

I see....

Guess the audit was not worth the paper it was written on...

[sidehack]

To my knowledge, they sold off the last of their Rockerbox rack units last June or so. It's the going assumption they never got the Pickaxe (SP50) to production, but I can't confirm that with documentation.

[klondike_bar]

But the SP20 isn't as loud (or at least isn't nearly as annoying) as the SP10; the form factor also made it more accessible than the SP20's rack case. And because the core voltage is fully adjustable it's still viable at some consumer-available electric rates a year and a half after it was introduced. I think that was his point.

I remember plugging in my first SP10 (one of the early non-preorder batches) when i was running a few S1 units. Within seconds i knew that this was not meant for home mining, the sound was horrific at full speeds.


I tink spondoolies greatest problem was that they designed an amazing combination of hardware and software in anticipation of BTC>$1000. The SP50 would have been a hands-down king of the hill if bitcoin prices were high enough to cover its expensive hardware component choices.

in terms of $/TH (not even including the specialty PSUs), the Sp50 would probably cost at least 50% more to produce that whatever bitmain sold as an S9/S10 competitor. In the midst of a mining race, the manufacturing is a trivial part of the final pricing, but when things reach an equilibrium (as it has over the last few months), sales prices realign with manufacturing cost and only the cheapest products find sales. This is why bitfury is well-posed to take the crown with thier simple string designs and software

[finbad]

if only they could have limped along to the halving

[Ultrafinery]

I tink spondoolies greatest problem was that they designed an amazing combination of hardware and software in anticipation of BTC>$1000. The SP50 would have been a hands-down king of the hill if bitcoin prices were high enough to cover its expensive hardware component choices.

But isn't BTC price the tide that floats all boats? If you could get double the hashrate (per dollar) by buying cheaper gear, wouldn't it make as much sense @ $1000/BTC as it would @ $100?

[finbad]

I think of it another way,  after the halving, the miners electicity cost doubles.

[elrippo]

I think of it another way,  after the halving, the miners electicity cost doubles.

Well, you should calculate that as we all do -> income - expenses = profit
The electricity is not doubled, your income is halfed, that's a big difference