Topic: Attention: Bitmain is currently performing a large scam - page 3. (Read 1391 times)

Cant call it a scam. Dont get me wrong, there is no way in a million years I would buy one, and dont agree with Bitmain dumping used equipment but all the information is available.  Anybody looking to spend $12k should be bright enough to do some research. 10 seconds on google or on here and you have 1000 comments explaining why not to buy one (ROI, fork etc.).

As MindfulPar mentioned at the start of this thread, Bitmain even put on their site about the possible algorithm change. Anybody stupid enough to buy one after all the warning...its their own fault, not Bitmains! Bitmain are just greedy and dont care about the damage to crypto's.Teach them a lesson nobody buy one!
(Buy the way I bought a first batch A3...not regretting it but wouldnt mind Sia incresing in price a bit!)

Totally agree - I definitely wouldn't buy one and would advise the same to anyone else. Just the 'scam' description seems unwarranted.

Regards,


Steve

It’s a very large gamble with a very low possible reward. There’s way better ways to make money mining, even with such low rewards as prices on most coins have tumbled. There’s very little reason to buy this miner at all, and if the thing breaks down you’re facing Bitmain’s horrible repair services. Unless you get into the first batch you have a near zero chance of making your money back, and even with the first you’ve got a slim chance.

Personally I wouldn't even dream of buying one to resell with the responses from Monero et al. but equally I wouldn't call it a scam - if you are willing to gamble $12K then I'm sure that they exist and you'll get a machine.

Regards,


Steve

Yes, you are spot on!
People who preorder them now will just fund their mining operation until Monero forks.

Any other CryptoNight coin that will be mined with ASICs will fail because they do not have a sufficient market cap to support the influx of new coins on the market.

If this happens, I predict:

• first phase: acute devaluation of the coin (as you know the majority of CN coins have low prices & have a max supply of billions) until it will be worthless
• second phase: interest for the coins will fade
• third phase: the coin project will be sunk

I hope this isn't going to happen but all the signs lead to it. 

Oh Wait, X3's are gone on their product list!

I think they've heard and realized it about what would going to happen.

its really goin an interesting scene eh..

https://imgur.com/a/7NPXA

I hope nobody buy anything from bitmain, baikal or another seller of asics

Not sure how things will go. The forks are going in sooner than they are releasing the miners to account for other ASICs. Bitmain could modify their ASICs to circumvent that till then. Surely there won't be a fork again if that happens, will it?

It's well know that this new scam-machine is being relased right after the fork. Wonder who are the dorks that will buy it.

S9 is so much better indeed

This is a SCAM sale .... expensive doorstops

Better get S9 and wait for the summer BTC boom 

A fool and his money is soon  parted .... wait on it

Word for word that's exactly what I've been telling people. They are selling them at $12k just to dupe a bunch of people before they all become junk worthless inventory since the major coins will change algos. By the time any of them get delivered they'll be completely worthless.

Bitmain has just announced a new mining machine, the antminer x3, that is designed to mine cryptonight algorithm cryptocurrencies, such as Monero. It is extremely efficient and profitable. A vega 56 video card has on average 1850 h/s at 190wh power usage. The x3 has 220000 h/s (118x stronger) at 550w power usage. It is then 41.08x more efficient.
As can be seen, this is a money machine. Costing $12,000 to have it shipped 15-31 may would net you at today's difficult over $5.3k per month.
Enter the most important part.

Seems good to be true, right? It is. This machine is being released to the public because information that asics were being developed/already used leaked to monero developers, and naturally they worked on implementing a fix for that, in order to keep Monero's anti-asic and centralization nature. This month along with other things, code will be pushed to fix this issue and make asics not functional for monero. Every 6 month network upgrade will also have small tweaks in the algorithm to ensure no asic is ever developed or at least profitable to pull.
Bitmain is only selling these machines because they knew monero was adding this feature on the upcoming fork. They then rushed to sell the machines they were using to  people who don't know about this.

On their site:
2. There are financial risks associated with mining cryptocurrencies. These risks can be related to changes in exchange rate of the cryptocurrency or to changes in the algorithm that is used to mine the cryptocurrency.Please deliberate well before making a purchase because we will not accept any requests for refund for orders of this batch.

In other words: if a network upgrade for cryptonight coins ever happen (it will happen), we can't be responsible for this. You're on your own and don't dare requesting a refund, we never issue these (quick off-topic: I personally know this very well because bitmain didn't refund me on my s7s even when I didn't receive the miners)
The shipping date is 2 months after the fork. These machines will be completely and absolutely useless. The biggest cryptonight coin will already have forked. Other cryptonight coins already signaled they will also push fix to this issue. Even if one or two CN coins don't implement anti-asic stance, you'll be left with shitcoins to mine. Imagine buying SHA256 asic for bitcoin only to have it available to mine peercoin only by the time you receive them.
tl,dr: Don't buy bitmain's x3. They asic mined monero and now that this will not be possible anymore they want to dump their machines on you.