BlackArrow Software tells customer "online profitability calculators are wrong"

[fordlincoln]

Posting this on behalf of a friend who choses to remain anonymous, after hearing this story and reading the email they sent - I am shocked and disturbed:


Dear ____,

The Batch 1 is about to be dispatch May and your order is entitled to the Improved Delay Compensation as explained further below:

The delay compensation of 25% hashing power + 10% discount is to be enjoyed by the Batch 1 orders.

The 25% Free Hashing power for 6 months is to be enjoyed this way:

If you have processed orders before 1st of January 2014 in our system, you will be granted 25% bonus to your original order hashing power. If you had order for 2 TH/S, you will receive 500GH/S hashing speed bonus for 6 months, at May 2014. If you have total bonus over 1 TH/S you will be able to login to your miner and set it up to desired pool by yourself.

If your bonus consists of less than 1 TH/S hashing power, we will set up one of our miners to mine with the speed assigned for your bonus. You will be able to receive payout to the wallet specified by you.

We will provide information regarding bonus hashing power in advance.

The discounts are to be enjoyed this way:

The 10% discount is for all Black Arrow ASIC products that you will purchase from us. The discount will be valid for you to enjoy at any further purchases for the next 22 months (until the end of 2015). BUT take note, that the 10% discount will be available for all future products, that means products starting for Batch 3.

Currently we have 15% discount active for all products on our website; however, after shipments of Batch 1 and Batch 2, discounts will be removed and then, that is the time you will be able to use and enjoy your personal 10% discount. There is a system restriction that would not allow us to combine orders, since shipment queuing is based on the date of the order's full purchase payment.

Also to share with you some point of views of people who has a strong faith in the bitcoin world, kindly click on the following links -

Why is the Bitcoin Price So Weak?
- http://libertyblitzkrieg.com/2014/04/01/guest-post-why-is-the-bitcoin-price-so-weak/

Why Bitcoin crashed and will rise again -
http://www.cryptocoinsnews.com/news/why-bitcoin-crashed-and-will-stand-up-again/2014/04/03

The Coin Summit
http://www.coinsumm.it/

We trust that Bitcoin mining will be profitable in May as well or all the Bitcoin mining will stop. We trust bitcoin to stay for good not just as a new found purchasing technology but its buying powers too. A good site as an example of how strong the bitcoin industry is currently and still on its rise, is https://btc-e.com/. The online profitability calculators are wrong just because nobody in the right mind will keep doubling the hash rate of the network every month if they are loosing money. The hash rate of the network will keep growing only if the bitcoin value goes up again. For this reason and because we provide the lowest prices possible we do not think that our miners will have a negative return of investment.
Looking forward to mining with you soon!
Please feel free to contact us anytime for further questions, thank you.

Best Regards,
Sylvia




Ticket Details
Ticket ID: CST-519-86***
Department: Other
Type: Issue
Status: Closed
Priority: Critical

Helpdesk: https://www.blackarrowsoftware.com/support/index.php?

What do you think? Please post your comments below:

[1715137862]

1715137862

[1715137862]

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[beatljuice]

I agree, the calculators are BS. As I write this the next estimated difficulty increase is < 9% not the 20% everybody thinks will continue forever.

https://bitcoinwisdom.com/bitcoin/difficulty

[kickbit]

I agree, the calculators are BS. As I write this the next estimated difficulty increase is < 9% not the 20% everybody thinks will continue forever.

bitcoinwisdom.com/bitcoin/difficulty

It will not continue forever, but it continues for a very long time:
http://mining-profit.com/bitcoin-difficulty-history
And why should it stop? What you think? Major miners still have cheap electricity and a lot of new mining hardware

[philipma1957]

I agree, the calculators are BS. As I write this the next estimated difficulty increase is < 9% not the 20% everybody thinks will continue forever.

bitcoinwisdom.com/bitcoin/difficulty

It will not continue forever, but it continues for a very long time:
http://mining-profit.com/bitcoin-difficulty-history
And why should it stop? What you think? Major miners still have cheap electricity and a lot of new mining hardware

take the best machine power wise on the market an sp10 in low power mode does 1th at 700 watts no machine is better then .7 watts  a gh. you to need spend 3k if you are lucky to get one.   I did 10 cents a k watt that is cheap .  no cooling cost (not realistic)  421 a btc . 

so the most efficient machine know to man needs a 9%  diff rate to make a few bucks  if you get 10 cents a k watt and cool for free.

  This translates to some slow growth.  Or big price cuts in gear .

at 20% a loser



at 15 % a loser

[cliffhanger35]

The calculator at bitcoinwisdom is the best so far. But you should be able to set the diff percentage for each stage. I doubt the diff increase in October will still be the same as it is now. In December last year the some calculators were predicting 127% increase a month.

[philipma1957]

The truth is you can do 2 or 3 diff jumps with some accuracy after that it is a coin flip so to speak.  When I buy gear I study what is does the next 30 days.  If I like that I buy it. 

So this makes all preorders not work for me. It took me a long time to make the decision to not preorder. But I have done better at making profit since I have done this.

[TheRealSteve]

You can also try out https://coinplorer.com/Hardware/Simulate/ - it allows you to manually specify dates and difficulty levels, instead of relying on a fixed %.  It's not perfect (doesn't take into account reward halving coming up), but short of making your own calculator (not that difficult - gogo spreadsheet software), but it's slightly less inaccurate.

That said...

The online profitability calculators are wrong just because nobody in the right mind will keep doubling the hash rate of the network every month if they are loosing money.

Nobody's calculating with a doubling of the hash rate as it is.

[kickbit]

You can try MINING PROFIT advanced calculator. I worked on it's algorithms for a long time and results are very similar to my real mining profitability.
If you're using cloud-mining services - it's about 90-100% accuracy.
If you're using mining hardware - better check "power and fee parameters" in advanced options.

PS. And difficulty will not stop growing in nearest future.

[kiki6990]

You can try MINING PROFIT advanced calculator. I worked on it's algorithms for a long time and results are very similar to my real mining profitability.
If you're using cloud-mining services - it's about 90-100% accuracy.
If you're using mining hardware - better check "power and fee parameters" in advanced options.

PS. And difficulty will not stop growing in nearest future.

Thanks for sharing, it`s the most accurate calculator for mining profit.

[notbatman]

I agree, the calculators are BS. As I write this the next estimated difficulty increase is < 9% not the 20% everybody thinks will continue forever.

https://bitcoinwisdom.com/bitcoin/difficulty

lol "fanboi"

The estimated next difficulty is 8,880,256,785 (+10.99%) in about 2.2 days.

Black Arrow sold a Feb 24th delivery date of ~2TH/s when the difficulty was 3.1 billion. It's currently May 10th and I'm still mining with my 333MH/s block eruptors.

I had no problem calculating what 2TH/s would make on Feb 24th just as I have no problem calculating how much 2TH/s will make in June.

Lying fucking assholes.

[RoadStress]

That's what you get when you buy from manufacturers who don't care about their customers.