Topic: Bitmain Antminer X3 -- 220KH+ Cryponight - 550W - page 36. (Read 18877 times)

Good luck and I wish you the best on your positive outlook,but...........Bitmain is offloading the X3 miners they filed a certificate of conformity on 01/23/2018 which means they have been mining the X3 for months and when Monero announces POW change to V7 they all of the sudden want to sell ? Not only this ,but there are 4 manufacturers total announcing Cryptonight miners for sale now. This is worse than D3 scenario people can use rose colored sunglasses but reality is this situation is not looking good for any one who purchased any cryptonight ASIC. 

I AM very confident with the $1900 one :

1. More than 3 months after monero change algo (just a little different than cryptonight), X3 might update its firmware just like Baikal's miner.
2. For Monero only, with total 4 batch of X3s and if each has 10000 units for total 40000 units means hashrate will rose by 8.8 ghs. With current around 1 ghs and X3s 8.8 ghs for total around 10 ghs, it still mining $20 a day or $600 a month (220khs of cryptonight in Nicehash $200 per day now). Usually Bitmain's Batch only 5-6k or, it will more profitable.
3. Even if it can not mine Monero, there are many coin that can be mine AND there are auto switch pool or rent service like Nicehash so its still profitable.
4. Competitor doesnt have anything big to compete, so network hashrate wont be that big. I would love to add Halong but their miner not be seen anywhere.
5. I always touch break even point at whatever Bitmain throw, even D3 that hated by everybody. All calculated by coin not USD

The point of mining is INVESTMENT for a long time. If you mine with S9 right now and sells the coin right away at 8-9k, then you miss the point and of course you will have big loss. Hold the coins and set sell order at your favorite exchanges with 5 times of its price right now OR atleast wait for next halving.

Im not siding with Bitmain BUT they almost counter every competitors with better hardware. I bet when new SHA256 miner with 2-3x efficiency of S9, Bitmain will release 4-5 times better OR cheaper.

https://www.youtube.com/watch?v=M93GWhX_0J4

this video from Mar 6 shows the profitability has already dropped in half in the last 10 days.  What will it do befor these things ship out?
Then once they are all running...

They do NOT lose money.  They already ROI n times now.

Code is the law. Fork the coins and make the vendors lose money and they'll stay away from those coins. Or learn to live with ASICs, like BTC and LTC have done reasonably well, kinda-sorta.

my D-3.  I also have a set of D-3 Bookends

Yeah but this isn't looks fair for the customers/home miners, the company manufacture a product and instead to sell this new tecnology item, use for itself dominating the entire network and when it not profitable anymore or if there is a high risky to turn useless, the company sell this product for a damn $12k.

This is like nvidia/amd use the video cards for mining and sell when the company figured out a new gpu with new tecnology and more powerfull turning the previous item almost useless. I think that a company must sell the product with guaranted benefit or just don't sell it, like a real mining company that mines petrol, gas or something else for itself and dont sell their machines when it is not profitable anymore.

But crypto/mining is unregulated over the world so we can't do anything, there is no laws for cartels.

This is...intriguing. If BTC goes back up in the next day or two I may be down to give one of these a shot.

Shush you silly person! Being rational is not welcomed here during the "Bitmain is a scam" parade! Just because Bitmain consistently delivers what they advertise on time and to spec (albeit sometimes low quality) doesn't mean that we shouldn't be righteously upset about their success! After all, they are forcing us to buy these things after all.

/s

In all seriousness though, I wonder if there could ever be a business model in which the mining manufacturer allowed customers to 'finance' a mining device by taking a portion of the mining profits as a fee during mining. It would incentivize the manufacturer to release the best and most reliable hardware possible while also allowing a much larger customer base. The manufacturer ends up with a great recurring revenue stream with zero hardware maintenance while the customer gets a subsidized miner that earns a bit less than it would have without the fees. One obvious challenge would be how to secure the miner from being tampered with. It would also probably need to VPN back to the manufacturer's pool so that the fees couldn't easily be hijacked with a simple mining pool proxy.

...are we missing something here... 

I can't think of a single reason to buy any of these machines but am struggling to believe that Bitmain, Baikal and Halong are all so arrogant as to think that the crypto-community is this gullible. Is this really a sell off by the manufacturers ahead of the XMR fork or might there actually be a use (now or in the future) for these?...

Regards,


Steve

Looks like Halong miner has released a cheaper more efficient miner than the X3

DragonMint X1 (April)

From: $1,599.00

Cryptonite POW miner.

Algorithm: CryptoNight
Hashrate: 124kh/s
Power consumption: 245W
Shipping: April 25-30
Tolerance: 6%

Only if you let them. Bitmain offered refunds, try getting that from BMW.

Look, I'm not saying it's not shady... but this is crypto, a supposedly decentralized self-regulated environment. You can't rely on everyone playing nice. This can be resolved using technology - e.g. by changing algos - or by not buying the miners.

I do not talk about profitability, but for respecting the customers.
If BMW offer a new model of a car for 120000USD, than for 2 days change price on 30000, and for another 4 hours to 19000!!! What You can think? .... They try to rob me...

I understand the indignation but let's face it - Bitmain isn't really lying about this. They don't make any claims about profitability. People just need to do their homework and not buy it if the numbers don't add up.

I do not know how to name this business model, what they try to use. Someone, can name it fraudulent.
 Let's imagine they are selling the taxi cars running on water.
"Ok, we produce our super taxi car. Cost of production 500$. Let's work the taxi business in silent (extra profit) for 4 months, and ruin the business of all other taxis."
"We heard that someone close the roads for our taxis, they will not be usable at all. Ok, let's start to sell it, maybe we will find some uninformed investors. How much people will pay for it? Maybe 12000USD? Let's try."
But, community react and warn the investors that roads will be closed for those cars.
"Damn, what should We do? Let's start to reduce the price. New price:3000$, maybe We will find some buyers, We order too much parts for production."
"After another 4 hours, no buyers yet? Let's try to sell it for 1900USD..."

What a respect for their "valuable customers"...We try to squeeze from you as much money as We can...but... this time community react...and stop this greedy sharks. They try to use their unfair business model again, as they did in the past, but community said ENOUGH!

Try to sell us something what sell for 1900USD (and have an extra profit), for 12000!!! Later, try to explain that they are nice guys and decide after two days to reduce price to 1900.

Translation: We try to rob You...but We do not succeed, so let's try to take only 1900USD from You, for useless doorstop.

Here are a thousands of their buyers, remembered old situations (D3 etc...), and after this fail, I am not sure how they will continue their business.
There is no company in "real world" which can survive such fail.

This price change is a real confess of their intentions.

I am proud that crypto community show to those greedy ASIC producers, that they can not destroy everything what they touch!

What a joke! Bitmain just greedy AF!
From 12K and 2 days later down to 3K https://shop.bitmain.com/productDetail.htm?pid=000201803162234588810T73G76V05F6
This garbage will be dead on arrival. Or even better, will be dead while on the way to your door step.
DONT BUY THIS!

Nice work!

We made a list of all the coins the Antminer X3 can mine, check it out: https://cryptodelver.com/asic/antminer-x3
We will update the minable coins as the forks happen.

ASICs only help "adoption" with dumpers, not necessarily a benefit for a small coin. Plus the math is still the same - a shitload of hashrate will devalue everyone's profits.

Re XMR: the change doesn't need to be huge as long as it makes ASICs useless... actually in this case just the intent was enough to force Bitmain to drop the price and also it sends a signal to any potential ASIC vendor to forget about XMR. A bit of a hassle for all GPU/CPU miners to upgrade their software though.

New disclaimer when buying 3k and 1.9k units from bitmain.

3. One major cryptocurrency which is using CryptoNight hash function is about to change their PoW algothrim, and according to their public statement, it is purposely to brick ASIC mining rigs including X3. When you buying it, you are betting that they are wrong.

I dont think ETN will fork, they would want wide spread adoption of their coin, asics are  perfect for this. XMR can only change their algo so much, their ram requirements still have to be cpu friendly.