that being said, there are new ASICs on the network again, but little clue as to who is behind it. unlikely they will try to sell the rigs after the fact either, since it went so well last time.
Topic: Attention: Bitmain is currently performing a large scam (Read 1391 times)
guys, this thread is from last year. the hardware exists, and does what it said on the tin. we also know that bitmain wasn't the original culprit secretly mining, their rigs didn't even ship until way post-fork. baikal was confirmed to be running secret ASICs as early as august 2017. also, there are a number of coins that still bring in pennies per day from these algorithms, keeping people moving towards their 10 year ROI
that being said, there are new ASICs on the network again, but little clue as to who is behind it. unlikely they will try to sell the rigs after the fact either, since it went so well last time.
that being said, there are new ASICs on the network again, but little clue as to who is behind it. unlikely they will try to sell the rigs after the fact either, since it went so well last time.
legendary
Activity: 1848
Merit: 1166
My AR-15 ID's itself as a toaster. Want breakfast?
scam? no. not unless they didn't deliver a product as advertised.
This hardware release proves one thing: The day I commented when XMR had almost doubled in diff over the course of a few hours; and the subsequent plunge in price from sell-offs right afterwards, I knew a massive asic had been produced; and shitmain was the most likely culprit.
Anyone who buys this thing; deserves what they get. Especially knowing they are trying to buy a specific hardware solution that is made to work on a coin that specifically will reorganize to invalidate such devices.
Bitmain uses the devices behind closed doors with nondisclosure. This is shady activity; and its your fault for buying into it.
This hardware release proves one thing: The day I commented when XMR had almost doubled in diff over the course of a few hours; and the subsequent plunge in price from sell-offs right afterwards, I knew a massive asic had been produced; and shitmain was the most likely culprit.
Anyone who buys this thing; deserves what they get. Especially knowing they are trying to buy a specific hardware solution that is made to work on a coin that specifically will reorganize to invalidate such devices.
Bitmain uses the devices behind closed doors with nondisclosure. This is shady activity; and its your fault for buying into it.
If bitman is still around then that means they scammed millions of people around the world cause if they were or have been honest then they would not be around cause large companies like bitmain are all out of business because its impossible if they lost more than 20 to 50 times their money in few months and still be operational. So as bitmain is still operational that means they scammed in all sorts of ways everybody and to this day, even $0.01 electricity per kwh is negative anyway you put it.
Wonder how long Bitmain will even last before they go completely bankrupt. They are still holding those heavy Bcash bags that have lost a tremendous amount compared to BTC. They don't seem to have much competition though so even with their dumb decisions they may turn it around.
Yeah, and it's more complicated than that even though. When they made their big push into setting up big operations in U.S. datawarehouses, they way overstretched themselves... I know they've defaulted on some of their existing contracts and will be involved in lawsuits relating to those. Leaving a lot of their ASICs behind as "payment" for defaulting on rents and energy bills. Safe to say it'll be a long time before things get shaken out, but it'll be classic Bitmain: they will not hesitate to screw someone over or break their word if profit is involved--they are ruthless and relentless.
Wonder how long Bitmain will even last before they go completely bankrupt. They are still holding those heavy Bcash bags that have lost a tremendous amount compared to BTC. They don't seem to have much competition though so even with their dumb decisions they may turn it around.
You can bet they mine a shit ton themselves before they release this sort of news and make even more money on the pre-orders from the few suckers who can part with 12'000$.
You're essentially buying a 12'000USD paper weight...
You're essentially buying a 12'000USD paper weight...
Shitmain scam as ALWAYS
Very nice catch. If other coins that use cyrptonight algo won't be profitable, then it is pointless to buy this product from Bitmain.
So is there any asics miner that COULD still be profitable?
While ASIC producers work with this unfair, scam business model, there will not be safe ASIC investment.
Brickmain
bitmain is a pure scam , my friend has been scammed for 1k$ .. Be careful guys, bloody scammers are everywhere nowadays
I have a strong feeling that they were using these miners themselves to mine Cryptonight coins. Why would they miss this opportunity to mine Cryptonight coins at 220 Kh @550w per machine themselves, making USD 5000 per month per machine?
Now they fear that Monero (and soon other Cryptonight coins) will modify their code to brick this ASIC, they are selling them out to customers. So they are making profit in every possible way.
Just a thought.
Now they fear that Monero (and soon other Cryptonight coins) will modify their code to brick this ASIC, they are selling them out to customers. So they are making profit in every possible way.
Just a thought.
That's how ASIC manufacturers have ALWAYS done business. They sell HEAVILY USED equipment as "new" after they've taken 80+% of the profit.
If that is true then I expect Monero (and later other Cryptonight coins) difficulty to go down (significantly) after this Monero fork.
Dont expect difficulty to drop too much, people forget that CN is mined for free on millions of computers around the world, and the pc owners prob dont even know it. They are the ones paying the higher power bils and suffering the poor pc performance.
I have a strong feeling that they were using these miners themselves to mine Cryptonight coins. Why would they miss this opportunity to mine Cryptonight coins at 220 Kh @550w per machine themselves, making USD 5000 per month per machine?
Now they fear that Monero (and soon other Cryptonight coins) will modify their code to brick this ASIC, they are selling them out to customers. So they are making profit in every possible way.
Just a thought.
Now they fear that Monero (and soon other Cryptonight coins) will modify their code to brick this ASIC, they are selling them out to customers. So they are making profit in every possible way.
Just a thought.
That's how ASIC manufacturers have ALWAYS done business. They sell HEAVILY USED equipment as "new" after they've taken 80+% of the profit.
If that is true then I expect Monero (and later other Cryptonight coins) difficulty to go down (significantly) after this Monero fork.
I have a strong feeling that they were using these miners themselves to mine Cryptonight coins. Why would they miss this opportunity to mine Cryptonight coins at 220 Kh @550w per machine themselves, making USD 5000 per month per machine?
Now they fear that Monero (and soon other Cryptonight coins) will modify their code to brick this ASIC, they are selling them out to customers. So they are making profit in every possible way.
Just a thought.
Now they fear that Monero (and soon other Cryptonight coins) will modify their code to brick this ASIC, they are selling them out to customers. So they are making profit in every possible way.
Just a thought.
That's how ASIC manufacturers have ALWAYS done business. They sell HEAVILY USED equipment as "new" after they've taken 80+% of the profit.
So is there any asics miner that COULD still be profitable?
I have a strong feeling that they were using these miners themselves to mine Cryptonight coins. Why would they miss this opportunity to mine Cryptonight coins at 220 Kh @550w per machine themselves, making USD 5000 per month per machine?
Now they fear that Monero (and soon other Cryptonight coins) will modify their code to brick this ASIC, they are selling them out to customers. So they are making profit in every possible way.
Just a thought.
Now they fear that Monero (and soon other Cryptonight coins) will modify their code to brick this ASIC, they are selling them out to customers. So they are making profit in every possible way.
Just a thought.
It serves you trolls well hehe
Odd, usually when a product sells out Bitmain leave it up and just grey out the Add to Cart button. This time they have completely removed it. I wonder if the $12k price tag was a mistake and they have just realised it or if they are too embarrassed as the entire crypto community has called their bluff.
Lets wait and see...
Lets wait and see...
Price has reduced to $3K (https://shop.bitmain.com/productDetail.htm?pid=000201803162234588810T73G76V05F6). Someone else posted this in another thread.
Regards,
Steve
It was me... thanks for quoting me!!!
Fixed! Apologies, I was too lazy to find where you posted it
They came all the newbies with activity 10 to support bitmain and Baikal ....
Good known technique ....
It is not working this time the people woke up !!!
THE SCAM IS SCAM !!
$12000 For a miner that has expiration day 2 weeks is a big SCAM !!
Good known technique ....
It is not working this time the people woke up !!!
THE SCAM IS SCAM !!
$12000 For a miner that has expiration day 2 weeks is a big SCAM !!
I've just had a look back through the thread and literally no-one has said that buying one (either Bitmain or Baikal) is a good idea - just the opposite everyone has said it would be a very bad idea. The only criticism of the post/title is that it's not a scam and people should always complete their own due diligence and know what they are buying.
Regards,
Steve
As much as everyone is crying Scam, I'm going against the hurd and seeing it as a potential opportunity in some way.
Does Bitmain that made more than Nvidia last year at 4 billion, really that desperate to try to Scam you for every penny you got when they are sitting on 4 billion?
They got bigger fish to fry
If the X3 does become a brick I hope bitmain does takes care of their customers with the 4 billion they got last year. Even though buyers also need to take responsibility of some of the risk.
Bitmain needs to start talking with the developers to make sure coins dont' fork off their asics and build better relationships
Does Bitmain that made more than Nvidia last year at 4 billion, really that desperate to try to Scam you for every penny you got when they are sitting on 4 billion?
They got bigger fish to fry
If the X3 does become a brick I hope bitmain does takes care of their customers with the 4 billion they got last year. Even though buyers also need to take responsibility of some of the risk.
Bitmain needs to start talking with the developers to make sure coins dont' fork off their asics and build better relationships
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