[CLOSED]***Spondoolies Tech SP10 - 1.4-1.45Th/s - $2,795 + shipping***

[ElGabo]

Guys, we should all hold off our hardware buying so the asic manufacturers can go into distress and start knocking off prices.  At the current price, we are buying hardwares to support them.  You are not buying to make a profit. If that is your goal then go ahead.

I can't find a single one miner which will return investment
I'm not talking about profit just would like to earn back BTC I have spend on mining equipment.

This was addressed too in my first GB. Feel free to buy and hold BTC if that works out for you. For me and for others holding to BTC might seem a bit hard and everyone is tempted to either try day trading or can't stand the fact that the exchange isn't moving or if it's moving down and they might sell at a loss. There is always the problem of when will you exchange your BTCs. Maybe the exchange goes to $1k and you are happy with your profit and then in 2 months it goes to $5k. You will not be so happy then if you exchanged your BTCs for a profit at $1k. Or the exchange might be at 450$ for 6 months and you just have money stuck, while miners have money moving.

Also don't forget that the SP10 is profitable even at 45 bil difficulty. Last year everyone was throwing money when the exchange rate was high without any planning in case something goes wrong. Now it seems that everyone is taking EXTRA measures when it comes small amounts of BTC. Nobody was thinking of any BTC return when they spent 55 BTC for a BabyJet or when they spend millions buying from CoinTerra or the other manufacturers.

IMO all who throw as much btc for a miner and didn't calculated to return back the btc was.....

I think the most simple calculation (at least for me) if I spend btc to buy a miner in fiat I'll check with 55-60% increase per month in difficulty. If I see return and some profit on a miner I'll buy, if not, I'll wait.

Currently I'm in waiting status.... Only a better btc/usd could change this.

Edit: The famous sentence what I read on the forum and I think it's a good one: "You mine btc not fiat."

Edit2: At 800$ btc price this one would be the best deal. (Or S2)

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[nikolaz]

Just added another SP10 for my order...

Reason for my purchase is purely thinking about summer and heat issues... Frankly I believe SP10 will handle the hot weather better...

Bring the price down to $2,700 I will order 4 more instantly :-) and possibly more if I can sell my kidney.

[mikewirth]

Just added another SP10 for my order...

Reason for my purchase is purely thinking about summer and heat issues... Frankly I believe SP10 will handle the hot weather better...

Bring the price down to $2,700 I will order 4 more instantly :-) and possibly more if I can sell my kidney.

How much you want for that kidney?  You could sell both if you are willing to stay on the machine indefinitely.  Would you consider a trade for a old Neptune order (group 2)?

[RoadStress]

If you tell me how this miner will mine 8.5BTC I will buy one.
188 days with 14% increments will make 4BTC after that it will make 0.0077 a day.

You didn't understand my logic. I prefer to get a miner because I will always have a way of producing BTC and also it gives me diversity in options. By buying BTC you are limiting your options by a lot imo. Having a machine that produces BTC gives me the option to sell at any exchange rate (for example I can exchange my mined BTC at $400, $350, $300 etc and also at $500, $600, $700 etc), by buying and holding you are only limited to exchange only when the value goes up and even if you do you may exchange today at $1000 and in one week when the exchange is $1100 you won't have what to exchange. No matter the exchange rate after a while you will feel sorry that you turned your BTC to fiat because you could get a better rate. Also if BTC goes back to $100 or difficulty goes to the sky with a low exchange rate then I will just turn my miner off and turn it back on when it's profitable (exchange rate goes up or diff goes down). If you are holding to your 8.5 BTC and the exchange goes to $300 who do you think will suffer more? Me with the miner or you with the 8.5 BTC?

IMO all who throw as much btc for a miner and didn't calculated to return back the btc was.....

I think the most simple calculation (at least for me) if I spend btc to buy a miner in fiat I'll check with 55-60% increase per month in difficulty. If I see return and some profit on a miner I'll buy, if not, I'll wait.

Currently I'm in waiting status.... Only a better btc/usd could change this.

Edit: The famous sentence what I read on the forum and I think it's a good one: "You mine btc not fiat."

Edit2: At 800$ btc price this one would be the best deal. (Or S2)

I see a contradiction in your statement. You will mine the same amount of BTC at $800 btc price or even less than what you are mining at this btc price because there will be more people who will start mining which equals to a higher rise in difficulty. Look what happened last autumn when BTC skyrocketed from $120 to $1200. Difficulty also skyrocketed (remember double the difficulty in just one month?) and we will have that kind of exponential rise if BTC price goes to the moon (and it will someday) and by the time everyone starts buying miners my farm will be much bigger and I will have more BTC mined than the ones who joined later.

Nobody is so good at exchanging their BTC at the right moment and while looking behind seems easy, doing it live much more rough. Mining for me is like a brake for greed and it keeps me from doing stupid and big mistakes.

[Profetu]

If you tell me how this miner will mine 8.5BTC I will buy one.
188 days with 14% increments will make 4BTC after that it will make 0.0077 a day.

You didn't understand my logic. I prefer to get a miner because I will always have a way of producing BTC and also it gives me diversity in options. By buying BTC you are limiting your options by a lot imo. Having a machine that produces BTC gives me the option to sell at any exchange rate (for example I can exchange my mined BTC at $400, $350, $300 etc and also at $500, $600, $700 etc), by buying and holding you are only limited to exchange only when the value goes up and even if you do you may exchange today at $1000 and in one week when the exchange is $1100 you won't have what to exchange. No matter the exchange rate after a while you will feel sorry that you turned your BTC to fiat because you could get a better rate. Also if BTC goes back to $100 or difficulty goes to the sky with a low exchange rate then I will just turn my miner off and turn it back on when it's profitable (exchange rate goes up or diff goes down). If you are holding to your 8.5 BTC and the exchange goes to $300 who do you think will suffer more? Me with the miner or you with the 8.5 BTC?

IMO all who throw as much btc for a miner and didn't calculated to return back the btc was.....

I think the most simple calculation (at least for me) if I spend btc to buy a miner in fiat I'll check with 55-60% increase per month in difficulty. If I see return and some profit on a miner I'll buy, if not, I'll wait.

Currently I'm in waiting status.... Only a better btc/usd could change this.

Edit: The famous sentence what I read on the forum and I think it's a good one: "You mine btc not fiat."

Edit2: At 800$ btc price this one would be the best deal. (Or S2)

I see a contradiction in your statement. You will mine the same amount of BTC at $800 btc price or even less than what you are mining at this btc price because there will be more people who will start mining which equals to a higher rise in difficulty. Look what happened last autumn when BTC skyrocketed from $120 to $1200. Difficulty also skyrocketed (remember double the difficulty in just one month?) and we will have that kind of exponential rise if BTC price goes to the moon (and it will someday) and by the time everyone starts buying miners my farm will be much bigger and I will have more BTC mined than the ones who joined later.

Nobody is so good at exchanging their BTC at the right moment and while looking behind seems easy, doing it live much more rough. Mining for me is like a brake for greed and it keeps me from doing stupid and big mistakes.

Yes you mine the same amount of BTC but at 800$ this miner would cost 4 BTC and we can all agree that would be profitable. Although I doubt the price would be this low in that hypothetical situation. Again a solution would be for the company to mine a few weeks and then they could sell for lower prices so it's profitable for the buyer too. Kinda like Bitmain did.(with S1).

Anyways good luck with the sale and sorry for offtopics although I feel than profitability should be addressed. I am confident that at some point I will own a Spondoolies miner.

[xingqiaoyin]

If you are holding to your 8.5 BTC and the exchange goes to $300 who do you think will suffer more? Me with the miner or you with the 8.5 BTC?

I fail to see your logic, both of you spend the same amount in the beginning. Either fiat or btc, it was all the same.
If btc tanks to 300$ i don't know who would feel better someone with a big balance and nothing else, or someone with lower balance and a pretty gear worth nothing.
The only way the gear owner won't suffer is if he has a crystal ball and his crystal ball says his gear will be in bitcoin museum in 2050 and worth 100 bar of pure gold.

[RoadStress]

Anyways good luck with the sale and sorry for offtopics although I feel than profitability should be addressed. I am confident that at some point I will own a Spondoolies miner.

Thank you.

If you are holding to your 8.5 BTC and the exchange goes to $300 who do you think will suffer more? Me with the miner or you with the 8.5 BTC?

I fail to see your logic, both of you spend the same amount in the beginning. Either fiat or btc, it was all the same.
If btc tanks to 300$ i don't know who would feel better someone with a big balance and nothing else, or someone with lower balance and a pretty gear worth nothing.
The only way the gear owner won't suffer is if he has a crystal ball and his crystal ball says his gear will be in bitcoin museum in 2050 and worth 100 bar of pure gold.

If BTC tanks to 300$ I will still earn and I will still be able to spend money monthly with my SP10, while you holding just 8.5 BTC are stuck with them until the exchange rate climbs back up OR you will change the BTC at a loss. That's my logic.

[murdof]

So back on subject:

1. hosted SP10 will go online on 16 may?
2. When do we start to pay. Bank transfer take 2-3 days to show up...

[SVK]

Anyways good luck with the sale and sorry for offtopics although I feel than profitability should be addressed. I am confident that at some point I will own a Spondoolies miner.

Thank you.

If you are holding to your 8.5 BTC and the exchange goes to $300 who do you think will suffer more? Me with the miner or you with the 8.5 BTC?

I fail to see your logic, both of you spend the same amount in the beginning. Either fiat or btc, it was all the same.
If btc tanks to 300$ i don't know who would feel better someone with a big balance and nothing else, or someone with lower balance and a pretty gear worth nothing.
The only way the gear owner won't suffer is if he has a crystal ball and his crystal ball says his gear will be in bitcoin museum in 2050 and worth 100 bar of pure gold.

If BTC tanks to 300$ I will still earn and I will still be able to spend money monthly with my SP10, while you holding just 8.5 BTC are stuck with them until the exchange rate climbs back up OR you will change the BTC at a loss. That's my logic.

Many thanks for explanation.

AFTER 188 days this miner will earn 0.0077 BTC(that's dust) for 14 days and then it goes down again. If I spend 3500 in cash on a product I want to get that back. If I spend 8.5BTC I want 8.5BTC back. I'm not mixing $ and BTC. If you do that you have to hope that BTC will double in price and thats just to brake even.
BTC difficulty will not decrease. I can see decrease happening only if BTC gets banned.

Sorry for off topic.  

[Dans]

Date                               Difficulty   Revenue   Profit            Return
2014                                                                                -8.102

Difficulty increment - 14%
Elec. Price - 0.18$
Pool fee - 3%
Hash rate - 1.4th
Hardware price - 3500$ (import duty not included)
Hardware power - 1250W
BTC price - 432$

Never return money invested unless BTC price goes to 715$  

Good luck

If i didn't think BTC would ever go over $715 i wouldn't be investing in ANY miners.

[RoadStress]

So back on subject:

1. hosted SP10 will go online on 16 may?
2. When do we start to pay. Bank transfer take 2-3 days to show up...

1. I don't have anything official, but my assumption is between 15 and 17
2. You should receive an e-mail by tomorrow max. If you don't, then either contact me or directly SP-Tech.

[Guy Corem]

So back on subject:

1. hosted SP10 will go online on 16 may?
2. When do we start to pay. Bank transfer take 2-3 days to show up...

1. I don't have anything official, but my assumption is between 15 and 17
2. You should receive an e-mail by tomorrow max. If you don't, then either contact me or directly SP-Tech.

We'll start hosting around the 16 or a bit before, first come first serve, per our daily production and the queue.
Tomorrow is weekend in Israel, you'll get first emails on Sunday. Our sales admin was under the weather today.

[gallery2000]

Guys, we should all hold off our hardware buying so the asic manufacturers can go into distress and start knocking off prices.  At the current price, we are buying hardwares to support them.  You are not buying to make a profit. If that is your goal then go ahead.

I can't find a single one miner which will return investment
I'm not talking about profit just would like to earn back BTC I have spend on mining equipment.

This was addressed too in my first GB. Feel free to buy and hold BTC if that works out for you. For me and for others holding to BTC might seem a bit hard and everyone is tempted to either try day trading or can't stand the fact that the exchange isn't moving or if it's moving down and they might sell at a loss. There is always the problem of when will you exchange your BTCs. Maybe the exchange goes to $1k and you are happy with your profit and then in 2 months it goes to $5k. You will not be so happy then if you exchanged your BTCs for a profit at $1k. Or the exchange might be at 450$ for 6 months and you just have money stuck, while miners have money moving.

Also don't forget that the SP10 is profitable even at 45 bil difficulty. Last year everyone was throwing money when the exchange rate was high without any planning in case something goes wrong. Now it seems that everyone is taking EXTRA measures when it comes small amounts of BTC. Nobody was thinking of any BTC return when they spent 55 BTC for a BabyJet or when they spend millions buying from CoinTerra or the other manufacturers.

1.4 TH will give you $38 dollars a day in bitcoin.  So pretend you have a miner of 1.4TH.  Each day you buy $38 of bitcoin .  Instead of buying a miner for $3200, you can use that money to buy bitcoins at $38 a day for 84 days.

[9feet]

Anyways good luck with the sale and sorry for offtopics although I feel than profitability should be addressed. I am confident that at some point I will own a Spondoolies miner.

Thank you.

If you are holding to your 8.5 BTC and the exchange goes to $300 who do you think will suffer more? Me with the miner or you with the 8.5 BTC?

I fail to see your logic, both of you spend the same amount in the beginning. Either fiat or btc, it was all the same.
If btc tanks to 300$ i don't know who would feel better someone with a big balance and nothing else, or someone with lower balance and a pretty gear worth nothing.
The only way the gear owner won't suffer is if he has a crystal ball and his crystal ball says his gear will be in bitcoin museum in 2050 and worth 100 bar of pure gold.

If BTC tanks to 300$ I will still earn and I will still be able to spend money monthly with my SP10, while you holding just 8.5 BTC are stuck with them until the exchange rate climbs back up OR you will change the BTC at a loss. That's my logic.

What a fail....
Maybe you assume people get their miner paid by an angel.
Or You assume maintaining miner wont cost you time and money which wont come up if you buy btc directly.
If btc tanks both the miner and btc holder both loss value.
The best option is spend money elsewhere...

It's a gamble thats really what it is.

[gallery2000]

Guys, we should all hold off our hardware buying so the asic manufacturers can go into distress and start knocking off prices.  At the current price, we are buying hardwares to support them.  You are not buying to make a profit. If that is your goal then go ahead.

It was a mistake to not create a self-moderated topic, but I thought we passed this kind of discussions and i hoped that only questions and issues regarding this GB will be here.

I see that you are happily buying other miners, but somehow you have a problem with this GB:

I bought an s2 recently.  I did not get a coupon.  How do you access to the coupon?

Bittech is not being honest.  He said he will ship my miners tomorrow, but it took him ten days.  YOU CAN NOT DO THIS IN THIS BUSINESS.  

I will definitely be more careful next time, but please keep your opinions to yourself and don't by a hypocrite here. I don't want to argue about this so let's call it even.

Edit: And no I will never donate to lazy thermos who can't have a proper forum software.

Well, I am not buying anymore.  

I wrote this on Mr. Lee's post:

Can you ask the factory to bring down another $700.  This will make it competitive.

I will buy from Spondolies if you go down another $700.  So I am not buying from any manufacturers at this point.  So my statement on holding off on buying until price goes lower is true across the board, not just Spondolies

Also the statement:

I buy those 4 miners from you for $8000.  You make a $500 profit right now.

Well, 4 miners that make 6.4 TH/s for $8000 is a good deal.  I have nothing against buying miners that makes economical sense.  I have something against buying miners that you might not get your ROI.

I know you want the factory to lower the price too.  This will make everybody happy.

[RoadStress]

1.4 TH will give you $38 dollars a day in bitcoin.  So pretend you have a miner of 1.4TH.  Each day you buy $38 of bitcoin .  Instead of buying a miner for $3200, you can use that money to buy bitcoins at $38 a day for 84 days.

And after 84 days what are you doing?

What a fail....
Maybe you assume people get their miner paid by an angel.
Or You assume maintaining miner wont cost you time and money which wont come up if you buy btc directly.
If btc tanks both the miner and btc holder both loss value.
The best option is spend money elsewhere...

It's a gamble thats really what it is.

Let me put it this way - assume 10 bil diff and 300$ exchange rate:
- Buying BTC:  $3200/450=7.11 BTC (No idea how did SVK come up with 8.5BTC) 7.11*300$=$2133 which equals to a loss of $1066 if you exchange all BTC. For every BTC bought at $450 you lose $150 if you exchange it back at $300;
- Buying SP10: invest $3200 (or 7.11 BTC), BUT you are making ~$500 per month after electricity cost and (at 0.15$/kWh) so while you are losing $150 for every BTC that you exchange I can cash out $500 and spend it like I wish. And if you think the difficulty will continue to rise exponentially at an exchange rate of $300 then you are just simply wrong.

[RoadStress]

Well, I am not buying anymore.  

I wrote this on Mr. Lee's post:

Can you ask the factory to bring down another $700.  This will make it competitive.

I will buy from Spondolies if you go down another $700.  So I am not buying from any manufacturers at this point.  So my statement on holding off on buying until price goes lower is true across the board, not just Spondolies

Also the statement:

I buy those 4 miners from you for $8000.  You make a $500 profit right now.

Well, 4 miners that make 6.4 TH/s for $8000 is a good deal.  I have nothing against buying miners that makes economical sense.  I have something against buying miners that you might not get your ROI.

I know you want the factory to lower the price too.  This will make everybody happy.

Dude you brought just one week ago when we had the same exchange rate! Your argument is invalidated by your own actions. And good luck with lousy Cointerra miners. Let's see how well they perform and how long will they last.


Edit: I am not so familiar with the Group Buy forum, but I will spend time somewhere in the future to check if all Group Buy threads are full of people who complain. I am sure that this is an exception and nobody came with this arguments on other Group Buys. I don't understand why this is so special and why does it attract all the pessimist people.

[9feet]

While you're at it do a group buy on hosting package too....

[SVK]

Road - 8,5 BTC is rough estimate with import duty. Should have mentioned that 

[DevonMiner]

I have ordered both SP10s and later SP30s from the previous GB, but I'm not convinced that this GB price is a winner ... doesn't seem quite like the GB deal you would be looking for, taking ROI calculations etc. into consideration. Yes, SP kit is superior in its built quality, but the bottom line is profit out of mining, so looks and continued reliability can easily be ignored by many when looking at the bottom line. A combined hosting GB sounds an interesting idea as previously mentioned, as would a lower price for the GB SP10.