ANN: BITMAIN has Tested Its 28nm Bitcoin Mining Chip BM1382

[nottm28]

So to sum it up - the price is bound to be disappointing - but we will pay it at all costs...

LOL, your comment made me laugh 

Hysteria seems to be building ... let's all see what the price point is ... and how the reliability is ... but it does look like a 'super cloned' S1, a miner that has been quite simply bullet proof for Bitmain.

Made me laugh too when I re-read it - let me say this tho' if it wasn't for bitmain's products I wouldn't have got back into mining. He could keep us interested or lose our interest in a single blow... Tricky waters...

[s1gs3gv]

At a diff increase of 18%, $.15kwh, 500gh, 400watt the S3 mines less than 1 BTC before it operates in the RED, if it starts mining today. And that is after 179 days of exposure to the risk that the network hash rate won't go ballistic.

There is absolutely no way anyone in their right mind should consider paying 1 BTC for an S3

[Slaine]

guys, in your calculation i'm not seeing any reference of a customs fee, that in this case is a pain in the ass for a decent ROI. At least let's check that bitmain is declaring low values (like the amazing 120 USD computer gaming gateway )

no customs to the usa for this item.

Well at least you have a better chance of a decent ROI than a lot us us then.  

Even at 0.9 BTC I wouldn't be jumping at it, due to the extra charges just to get it into the UK.

[s1gs3gv]

The real issue was the s-2 was a stone cold act of overpricing gear.

Only if you paid window-sticker prices

[nottm28]

guys, in your calculation i'm not seeing any reference of a customs fee, that in this case is a pain in the ass for a decent ROI. At least let's check that bitmain is declaring low values (like the amazing 120 USD computer gaming gateway )

no customs to the usa for this item.

Well at least you have a better chance of a decent ROI than a lot us us then.  

Even at 0.9 BTC I wouldn't be jumping at it, due to the extra charges just to get it into the UK.

We (Europe, or infact UK) need a trade agreement with China like the USA has - no import tax... If I was USA I could buy more kit cheaper - how is that fair?

[edit]

Today I paid £680 ($1155.17, EUR 850.42) for 3 S2's - import tax...

[anykeywhy]

Congratulations @BITMAIN great news, can't wait!   

Cheers!
-akw-

[-droid-]

i printed out copies of the concept drawing of the S3 so I can spread them out on my bed and roll around with them tonight, then after the quick ROI ill do the same but only with cold hard cash i made from these sexy beasts

[xstr8guy]

I'm not trolling, I think BitMain are in the top tier of ASIC manufacturers. But I'm surprised they are releasing a 1/2 THs miner this late in the mining race. Are Spondoolies the only company who understand density? Even KNC is shipping a 5 box Neptune (6 boxes with controller). A person is going to need 10 S3s to see any significant BTC income.

This small box trend confuses me. And by the way, network hashrate is about to explode. KNC is shipping, BitMain and the ASICMiners are shipping soon. Even BFL should be shipping in 2 weeks®.

[cozk]

Not sure about this.

Diff is growing faster than hardware progress.

Depending on the price, chances are ROI might even be not possible.

[DevonMiner]

We (Europe, or infact UK) need a trade agreement with China like the USA has - no import tax... If I was USA I could buy more kit cheaper - how is that fair?
Today I paid £680 ($1155.17, EUR 850.42) for 3 S2's - import tax...

That's £226 each ... cheaper than me last week ... true UK needs an agreement ... not sure that bitcointalk.org might get that on the Government agenda, lol.

And ... there is the catch ... First batch S3 buyers don't know what to expect in import duties ... so you wait to see if the forum gives you an idea .... and by then they've sold out Batch 1.

Happy speculating and mining everyone ...

[philipma1957]

I'm not trolling, I think BitMain are in the top tier of ASIC manufacturers. But I'm surprised they are releasing a 1/2 THs miner this late in the mining race. Are Spondoolies the only company who understand density? Even KNC is shipping a 5 box Neptune (6 boxes with controller). A person is going to need 10 S3s to see any significant BTC income.

This small box trend confuses me. And by the way, network hashrate is about to explode. KNC is shipping, BitMain and the ASICMiner clones are shipping soon. Even BFL should be shipping in 2 weeks®.

and the home miner should die.

density is not what you think .  

the network is better off with 30,000   of these in the hand of 10,000 small guys.

  then 3,000 spoons    in the hands of 10 big out fits.

I can get 800  watts of power at 3.5 cents a k-watt  in a certain location these are perfect for me 1 th will run.   right now I am running .42 th in this spot

[mdude77]

I'm not seeing how one could upgrade their S1 to these S3s.

Let's see, the S1 is made of a little, yet sturdy, frame.  Two blades with massive heatsinks on them, with tons of thermalpaste.  And a fan.
What would be kept in the S3?  The frame and fan?  What kind of upgrade is that?

Or we could be separating the blades from the heatsinks.. and make a huge mess of thermalpaste, apply our own, and re-assemble.  That'll make it lighter to ship, for sure, but not much of a user friendly upgrade IMHO.

Or we could be sending our S1s back to them.. who wants to do that?  8lbs a piece, IIRC.

M

[mdude77]

And I'm still getting $100 a month from my S1... after electricity.

M

[tarmi]

I'm not seeing how one could upgrade their S1 to these S3s.

Let's see, the S1 is made of a little, yet sturdy, frame.  Two blades with massive heatsinks on them, with tons of thermalpaste.  And a fan.
What would be kept in the S3?  The frame and fan?  What kind of upgrade is that?

Or we could be separating the blades from the heatsinks.. and make a huge mess of thermalpaste, apply our own, and re-assemble.  That'll make it lighter to ship, for sure, but not much of a user friendly upgrade IMHO.

Or we could be sending our S1s back to them.. who wants to do that?  8lbs a piece, IIRC.

M

dont forget the controller board.

also, by sending IC boards only, bitmaintech could save a lot because the shipment would be considerably cheaper.

[toxic1978]

So lots of page F5 in my browser over the next few days.....  

Price guess @ 1.1BTC for S3

By second batch price will be under 1BTC

People will pay over the odds on the first batch (Including me) just to have it 'first'

ROI on any mining now is almost impossible...... Unless you sell your hardware as you restock!

Its the only way to go.

By your miners, list them on Ebay, mine as you sell, as your current miners get sold your replacements come into stock.

You can mine for..... well free if you have the cash up front and take the time to sell them well.

I just sold an S2 for £1700/$2888 here in the UK - I paid £1211 for it a month ago.

So deduct my customs charge of £185 = £1396

and Ebay selling fees @ 10% final value fee = £175

finally Delivery to buyer = £45

= £1295

Profit: 1295-1211=£84

Plus a couple of BTC mined whilst I sell, then repeat the process!

Its not a fail safe method, but at worst you'll break even, at best you'll make a few hundred per 1TH miner in stock per month.

Anyway time to clear the decks for some S3 Action!

 

[googlemaster1]

They should implement a order limit if they truly care about the bitcoin ecosystem.  You hear that bitmain?  If you are going to do these things in batches. 

Batch 1 Order limit: 3

Note:  I want more than this, but lets be fair to all the smaller miners here.



And if the price is over 1 BTC, I'm going to be sad.

[rograz]

At a diff increase of 18%, $.15kwh, 500gh, 400watt the S3 mines less than 1 BTC before it operates in the RED, if it starts mining today.

The problem with that assumption is that we are nearing roads end in terms of efficiency, exponential growth can only be sustained by better efficiency or increase in BTC price. There wont be something out that is for example 0,1W/GH this year that could keep fueling growth and make other hardware obsolete.

[dropt]

Or we could be separating the blades from the heatsinks.. and make a huge mess of thermalpaste, apply our own, and re-assemble.  That'll make it lighter to ship, for sure, but not much of a user friendly upgrade IMHO.

Or we could be sending our S1s back to them.. who wants to do that?  8lbs a piece, IIRC.

M

Oh no, not thermal paste!  I see what you're saying there, but all of that work for a cheaper (?) upgrade to more than double the output of the S1 isn't out of the question.  How much fucking around did you do with whatever GPU's you ran to keep them running right on the edge of failure?  So, THAT was okay, for whatever meager earnings it got you, but having to turn some screws and deal with thermal paste is a non-starter? OK then.

[rograz]

dont forget the controller board.

also, by sending IC boards only, bitmaintech could save a lot because the shipment would be considerably cheaper.

Idd, if anything it was the shipping cost killing the profitability on the S1s for Bitmain at the end is my guess, the mounting frames/heat sinks are about 80% if not more of the shipping weight, I bet you could send the upgrade boards as padded mails.

Also there's no real rush for them to get upgrade boards out tbh, the S2 has plenty of life left in it and even the S1s will stay profitable for quite some time.

[lajz99]

Oh no, not thermal paste!  I see what you're saying there, but all of that work for a cheaper (?) upgrade to more than double the output of the S1 isn't out of the question.  How much fucking around did you do with whatever GPU's you ran to keep them running right on the edge of failure?  So, THAT was okay, for whatever meager earnings it got you, but having to turn some screws and deal with thermal paste is a non-starter? OK then.

It's amusing to see the posts coming out of our so called "Hero" members...  I'm sure he really appreciates your input.