Topic: BTCS Dumping SP35s for SP50s (Read 3716 times)

Yes, you are right. I can remember they told that in there miner tour video.

Most of their electrical equipment was picked up from a datacenter that closed so that's probably what its referring to.

I was looking at their other eBay listing for a Square D breaker and noticed the following in the description:

there have been plenty of 100+ GPU setups in the past, but even 100 R9-380 cards would only draw ~20kW, which is a drop in the bucket for a facility that can handle at least 10x that much equipment. They would need to run 500+ GPUs to even remotely make proper use of the facility

BUT... if they did, it could be solid returns and resale/liquidation may be much easier than it is with bitcoin ASICs.

1) build a simple, functional, rackmounted system with cheap components (<$200 for mobo/ram/cpu/etc/crappy 350W ATX PSU) that can handle 5 GPUs (powered by a single 1250W server PSU, which they likely have hundreds of lying around from SP10/3x/50). costs beyond the GPU alone would be minimal, at least $50 savings over even the most budget home-made rigs due to bulk purchases and existing infrastructure

2) using either linux-on-a-USB or linux/windows running on a <$20 32GB SATA, set up the software side to start mining on boot and open a teamviewer or other remote-interface program. (remember they designed some pretty good interfaces on the ASIC hardware, a linux/windows remote monitoring app would be a breeze).

3) Replicate the system, with the exact components dozens of times (should take <30min/rig if the OS is programmed right) until you have at least 100 rigs, which could likely be fully assembled and functional by a small <5 person team within a week. They then mine at a decent profit because they pay ~$0.05/kwh, assuming r9-380x tats about $2-3/GPU/day in profit, or about $1000-1500 for a 500-card assembly. Within a year they could be looking at >$200,000 in revenue (after power costs and assuming a gradual decline in profitability), with ~$125,000 in initial hardware costs and probably $75,000 worth of costs related to their lease and minimal income for those involved in the initial assembly and ongoing operations.

notice that's effectively a $25,000 loss after 1 year, assuming that GPU mining maintains profitability. (brief price movements like in ethereum could add another $100,000+ of revenue, making it profitable). They also now have ~$60,000 worth of consumer hardware that could be liquidated without much difficulty, assuming they dont continue to mine for 1-2 more years before the 380 is obsolete.

It's not only the building but the amount they have to spend on people to watch and restart gear, and trouble shoot will go up who know's how much.  And your talking a person with skills to.  Not one that just goes to asic miner X and restarts it.

So it really is impractical for industrial size. I see large hobby size being largest people go on this.  If it goes industrial size they likely will have an asic, which is hard to say if/when/ever it happens.

I wouldn't not worth it most im gonna do is 6 or 7 build them in PC sense i can all ways use one or two more PC's for other things and maybe rent a few form time to time sense the rent on them is not to bad you can actually make something renting not much but something .

They kept secret and mined X11 with them internally (possibly sold in bulk). I think they were selling them now that they got to mine chances are good profits being X11 asic.    Now they are trying for sales... to get even more profit.  But I think these machines come well used.

Any coin that brings massive profits will get asic chip makers attention.  They might keep internal like the X11 one was.   So many were suspose to be coming out with X11..... then all went quiet.  I suspect on eth if they make a asic it will be in quiet and they will mine the crap out of it, eventually sell well after they have ROI'ed.   

And logistics of sitting up a ton of GPU machins, and troubleshooting them.... I don't see anyone picking a industrial size gpu farm.

your so figing right sigh !!.

I all ready burt up a r9 290 trying to water cool it i know were i screwed up but that was my mistake i have water cooled at least  2 other GPU with out issue this time i got cockie or hardheaded so i wasn't care ful enough i guess you would call it, that's on me. I throw the card a way im not gonna try to ripe off xfx or any one after that, trying to replace it.

Mining alts with gpus = real work

Also not cheap to set up

http://cryptomining-blog.com/7752-what-we-dont-like-about-the-ibelink-dm384m-x11-asic-miner/

I read a review about that x11 miner it might be waste now sense there is only one two coins you mine at x11 if I read it right and that miners has so many flaws in the software that need to be fix with no update in sight and it's not open source software, i think they said you can't even change the default password they may even turn into another Zeus miners type company at first it was good then they started ripping others off. and went cloud which made it even worth script mining was very popular back then till Zeus and few others destroyed it but that's how i feel. I actually had the cash when it came out all most bought one im broke now and kind of glad I didn't buy one.

there taking orders for batch 2 i think and/or I hope you get by may or June i think it said was the ship date .

Them buying so many GPU's is highly unlikely the man hours to put together and parts needed... I don't see them spending it on that.

on top of that eth prices are going down  so why buy so many GPU's only to end up selling them again a few months later they are for sure about to do something what ever it is.

you can buy it now if you want to pay 2100 with free shipping n the US if this link is right , www.dualminer.com/iBeLink-DM384M-Dash-and-X11-Miner_p_36.html

Eventually someone will have a asic for it... they likely will keep private as long as possible.  We saw this with X11 once profitability went down... we could get well used gear for the algo.      Them buying so many GPU's is highly unlikely the man hours to put together and parts needed... I don't see them spending it on that.

I also don't see a SP50 there though.... but I think it will either be empty spots or they will buy some other brands gear (which will not sound good on financials when released).

If they have $3M to buy GPUs then sure but....

Maybe they have 15000 GPUs mining ETH.

With having a data center though already in contract... the big question is what do they do with spots?   If their goal is to sell all or a good amount will they leave empty? Seems like a dumb idea.  Will they buy other's machines... seems like it would be a big ego burster to do this.

I just don't see they are going to do next as I don't see SP50 being there when these ship out.  And I also don't see them wanting to have open spots where these miners were.

The number 15 might just be what they were willing to do as their "first round" of sales via Ebay. See how they go and then adjust the price (up or down) based on what happens with the first 15.

Bitmain has done this along with the S7, with each successive batch being lower priced (generally) than the previous one. The posting by scyth3 makes more sense in terms of numbers. 

15 is not that much, maybe they need the room for a smaller type of miner. Or they have less energy consuming.
Can it be so simple.

"New message from: bitcoinshopus (83Blue Star)
we actually have 120 left, here are my best offers:
10 or less   $649.00/each
more than 10   $600.00/each
more them 50   $549.00/each
more then 100   $500.00/each
all 120   $469.00/each $56,280.00/total

let me know if you're interested, they have been selling pretty fast with these prices.

thank you."

I think the "don't miss out" is a marketing tactic. The above is what I got when I inquired about buying bulk.

I'm surprised they are selling that many even.  These were top of the line machines at one time, and they were huge hashrate's with good efficiency.  But today you could get a S7 with coupon and PSU under this I believe and a machine twice as efficient almost.  So I'm not sure what is causing them to get sales.

The tagline of their latest auction reads: "Not many units left, don't miss out!". They sold 15 previously so they're not actually selling many.

Guys, bit of a n00b question, how do we know for sure it`s BTCS eBay account?
And anyone of you here buy something in the past from them?