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

[Ultrafinery]

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

...while the size of their mine halves. => same power bill, half the bitcoins => bankruptcy

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[elrippo]

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

...while the size of their mine halves. => same power bill, half the bitcoins => bankruptcy

Do you know their power bill? I don't, so i would not talk about bankcryptsy 

[Unacceptable]

So SPTech had no farm??

What the feck is this??

http://www.ebay.com/itm/Spondoolies-SP-20-Jackson-Spondoolies-Tech-SP20-Bitcoin-miner-btc-ASIC-antminer-/231923298492?hash=item35ffb4b0bc:g:ad4AAOSwBnVW97NT

[smooth]

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

I agree they apparently made high quality equipment (which I think they called "carrier grade") but frankly that was really, really stupid. This is not audiophile gear or even laptops, nor is it carrier gear.

Mining is 100% a commodity business that is set up to race to the bottom. Lowest costs wins.

If I remember you correctly from the good old days of mining, you've been a miner long enough to understand how important it is to optimize your costs and get the most from the least.

They might have been able survive had BTC prices stayed high, but it didn't make their strategy a good one.

[finbad]

should have done what all the othere are doing ,

ditch the expensive cases submege in liquid and farm for themselves....

which I think they finaly figured out with the BTCS merger ,  but it was too late.

[RoadStress]

Documents so far:
1. Receipt for filing court fees and security of funds [like a deposit in the case of loss to help pay the defendant's fees]

Not yet, no. Lawyer is paid for up front so no changes.

Hey dogie with your lying past you don't expect us to simply believe you. Post the invoice with your lawyer fees too because otherwise your words are worth nothing!

[dogie]

Hey dogie with your lying past you don't expect us to simply believe you. Post the invoice with your lawyer fees too because otherwise your words are worth nothing!

1. No one cares if you believe me or not, you are no one.
2. No one else is required to believe me or not.
3. As I said many months ago, nearly everything in this case is open to the public. You are more than welcome to pull the actions of my lawyer using the case code "191050116" as I previously provided.
4. I'll bite; what have I lied about previously?
5. While you're saying dumb stuff, would you like to make clear what remuneration you have received to date from Spondoolies?


Edit: Guy is now deleting all negative comments and any attempt at me replying to his conspiracy theories. There is a mirrored, un-moderated thread available here, although Guy is now spamming that also in order to hide posts he'd otherwise delete.

[klondike_bar]

In all fairness, it looks like your "signature campaign" offered 5%+ commission on sales, which dogie achieved ~400 of for a total >$50,000

seems like a bad decision on your part, and trying to discredit dogie doesnt say much for your actual legal abilities to fight what seems like a clear contract law case covered under international laws.

[RoadStress]

Hey dogie with your lying past you don't expect us to simply believe you. Post the invoice with your lawyer fees too because otherwise your words are worth nothing!

1. No one cares if you believe me or not, you are no one.
2. No one else is required to believe me or not.

dogie being a scumbag again:
Original post:

1. Receipt for filing court fees and security of funds [like a deposit in the case of loss to help pay the defendant's fees]

Changed post:

1. Receipt for filing court fees...

[Zeta0S]

Even with the best tech, poor direction can lead to disaster.

I am very sad to read this news.  Spondoolies made the best miners and had the friendliest presence here on the forums.  The writing has been on the wall for quite some time, but the mining community will suffer from the continued lack of manufacturer competition as a result.

Good luck Guy.  I wish I could have gotten my hands on an SP50.  Probably one hell of a miner.

Do not worry my friend, we still have ButterFly Labs, and they starting to ship soon!

[Guy Corem]

In all fairness, it looks like your "signature campaign" offered 5%+ commission on sales, which dogie achieved ~400 of for a total >$50,000

seems like a bad decision on your part, and trying to discredit dogie doesnt say much for your actual legal abilities to fight what seems like a clear contract law case covered under international laws.

Note: I can't comment regarding the claim itself.
If / after the lawsuit will be settled without confidentiality agreement, I will post Spondooolies side of the story. I am looking forward to it.
The matter is out of my hands now.
When a liquidator is appointed, all legal proceedings are frozen.

Guy

[Fatman3001]

In all fairness, it looks like your "signature campaign" offered 5%+ commission on sales, which dogie achieved ~400 of for a total >$50,000

seems like a bad decision on your part, and trying to discredit dogie doesnt say much for your actual legal abilities to fight what seems like a clear contract law case covered under international laws.

Note: I can't comment regarding the claim itself.
If / after the lawsuit will be settled without confidentiality agreement, I will post Spondooolies side of the story. I am looking forward to it.
The matter is out of my hands now.
When a liquidator is appointed, all legal proceedings are frozen.

Guy

I can't wait for the reviews:

"....The Greatest Work of Fiction in This Decade!"

"....A Sizzling Adventure with Pyramids and Aliens!"

"....A Truly Unlikely Hero..."

[s1gs3gv]

Sad to see the Spondoolies story end so acrimoniously.

[IOTUSA]

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

The Bitcoin price plunge from $1k killed most ASIC developers. Cointerra couldn't finance at $300 Bitocin, Spondoolies couldn't either.

[Biodom]

In my opinion the whole ASIC adventure was detrimental to bitcoin, producing gigantic difficulty crunch with almost no benefits.
As I see now, GPUs are just fine for securing the network as long as there are enough of them being deployed.
There are possibly 10-100 times more people willing to run GPUs than there are people who run ASIC-based miners.
The result is mining centralization and possible stagnation.
My worry is that bitcoin will turn out to be the yahoo and myspace of crypto while others (with one obvious candidate) run away as potential google, facebook of this space. That would be bad for me personally as I invested much more in btc success.

[Guy Corem]

In my opinion the whole ASIC adventure was detrimental to bitcoin, producing gigantic difficulty crunch with almost no benefits.
As I see now, GPUs are just fine for securing the network as long as there are enough of them being deployed.
There are possibly 10-100 times more people willing to run GPUs than there are people who run ASIC-based miners.
The result is mining centralization and possible stagnation.
My worry is that bitcoin will turn out to be the yahoo and myspace of crypto while others (with one obvious candidate) run away as potential google, facebook of this space. That would be bad for me personally as I invested much more in btc success.

In recent days, some core developers are suggesting HF to disable AsicBoost advantage (we call it Merkle Collisions).
I wander why not take it few steps further and ensure GPU only mining.
No one in his/her right mind will consider developing ASIC for Ethereum, since Vitalic will change the POW immediately.
I agree that GPU only POW will cause greater decentralization.
Cross reference with my proposal here:
https://medium.com/@vcorem/lesson-learned-from-the-classic-coup-attempt-or-why-core-needs-to-prepare-a-gpu-only-pow-6a9afe18e4b0#.ly56awsh4

Guy

[Unacceptable]

In my opinion the whole ASIC adventure was detrimental to bitcoin, producing gigantic difficulty crunch with almost no benefits.
As I see now, GPUs are just fine for securing the network as long as there are enough of them being deployed.
There are possibly 10-100 times more people willing to run GPUs than there are people who run ASIC-based miners.
The result is mining centralization and possible stagnation.
My worry is that bitcoin will turn out to be the yahoo and myspace of crypto while others (with one obvious candidate) run away as potential google, facebook of this space. That would be bad for me personally as I invested much more in btc success.

Agreed,BTC is already centralized by those same folks that once depended upon us,the home miners.

Do you think they care about BTC?? No,only the income it generates for them,that is all...............

[smooth]

In recent days, some core developers are suggesting HF to disable AsicBoost advantage (we call it Merkle Collisions).
I wander why not take it few steps further and ensure GPU only mining.
No one in his/her right mind will consider developing ASIC for Ethereum, since Vitalic will change the POW immediately.

Because neither the core developers nor, I think, most of the rest of us in the ecosystem want to rely on a (bus factor one, BTW) Vitalik to change PoW immediately.

That said, choosing among the least bad options is not always easy. I agree with the comments about ASIC mining being bad, but I'm not sure what is least bad.

[RoadStress]

In my opinion the whole ASIC adventure was detrimental to bitcoin, producing gigantic difficulty crunch with almost no benefits.
As I see now, GPUs are just fine for securing the network as long as there are enough of them being deployed.
There are possibly 10-100 times more people willing to run GPUs than there are people who run ASIC-based miners.
The result is mining centralization and possible stagnation.
My worry is that bitcoin will turn out to be the yahoo and myspace of crypto while others (with one obvious candidate) run away as potential google, facebook of this space. That would be bad for me personally as I invested much more in btc success.

You are really ignoring the level of security the network has right now!

[smooth]

In my opinion the whole ASIC adventure was detrimental to bitcoin, producing gigantic difficulty crunch with almost no benefits.
As I see now, GPUs are just fine for securing the network as long as there are enough of them being deployed.
There are possibly 10-100 times more people willing to run GPUs than there are people who run ASIC-based miners.
The result is mining centralization and possible stagnation.
My worry is that bitcoin will turn out to be the yahoo and myspace of crypto while others (with one obvious candidate) run away as potential google, facebook of this space. That would be bad for me personally as I invested much more in btc success.

You are really ignoring the level of security the network has right now!

The level of security is unknowable. You can't measure it in hashes or whatever, as long as miners are able to collude, and that's facilitated by having high miner concentration. All of which is somewhat unknowable to an extent, but doesn't look great.