Topic: BTCS Dumping SP35s for SP50s (Read 3715 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?

I've been around here since 2011,I've seen em come & go....this is a great forum & yes things get off topic from time to time.But mostly not for long.

But we don't need wanna be mods   

This Mikestang will f*ck your topic up if you say one alt coin name in your topic. lol
I found his "ONLY TALK ABOUT BTC HERE!!!!!!" many time`s the last view weeks.
Happy to see real moderators are removing is quotes now.

I've not seen anyone do that yet. SP10 might have different PSU pinout, but if it doesn't try setting the PSU setting to generic. I don't see you being able to run both hashboards off one PSU though as their power is segregated from each other.

has anyone been able to run the SPxx series without the natively-included power supplies?  A while back i tried to put an Sp10 PSU in an SP3X and it just wouldn't recognize it or mine on that board. It would be neat if there was a way to run an undervolted Sp3x on a single PSU (the native one or an external) and liquidate the fancy internal PSUs

agreed. it was like 1.7BTC/TH initially IIRC, when ~1.2BTC/TH would have been reasonable. but noone was forcing people to buy hardware without doing the propoer cost analysis and predicting the price/difficulty movements of the future.

IMO best time to buy miners is when the BTC price is peaking out, or starting to dip. liquidate coins into hardware at a fair price, and watch as BTC value drops, difficulty stagnates, and your hardware preserves its $fiat value. I rode out the $1000->$300 bearish period quite well doing this, and drastically cut my losses in comparison to having simply held coins

Even if they sell I think it's a bandaid so I don't see this as being huge savior for them.  They honestly would have to get other manufactures gear I think with money to make a difference...... which might look odd on their report to investors.    So I'm not sure they are willing to do this.

And SP50... I still don't see happening without a redo of chip's going in it.   And I don't think they ever were able to make those chips even.  So again I'm not sure feasible.

Don't buy from them, if you don't like them.

No point in whining about it.

Vote with your money.

My point of defending these 'big corporations' is that no one is on their side and its always their fault for everything apparently. The continued rhetoric on here is often "fuck Bitmain / big companies / corporations / capitalism / China / foreigners" and not only is it tiring but bigoted and contrary to all logic.

Big corporations are as bad they appear any place on earth they will sell there own mom so to speak for millions.

Show ME once were I said anything raciest, i have been very careful not to .I wanted to a few times but i respected them.  o boy some of the thing i wanted to but won't. I 'm willing to bet they call us some names we don't hear .

by it all started the guy that created the idea of bitcoins it was never really meant to do what it did . or make anyone rich and now they want to destroy it or abuse it so bad and shut everyone out and keep it for there self . if it wasn't for us would it be were it is NO .

I need to let it go before i get kicked off the forums.


cya

Fuck bitmaintech they are yet to pay me for my under hashing batch 1 miner.
They never answered my emails or complaints.
They owe me 67 to 150 usd on that miner.

Now to be fair the batch then sent to me one month later hashes at 5100 vs 4600 rating and when clocked to freq 480 is gives me .24 watts to a gh on a seasonic platinum psu.

They also sold 2 dog batch 1 s-3s to me.

Btw I made really good money with it.

The point of me saying fuck them is they ignored me.

Now I went and purchased 16 more pieces from them and each time I asked for a 67 to 150 usd discount.

To make up for the shit batch 1 s7

Frankly I would forgive them since I made money for those sales of the 16 for clients.
But I do not forgive because I also purchased 1 more batch 1 for hosting by li in China

Those all under hashed and I did get a 65 or 67 dollar refund.

So if the sale is in China they fixed it but the sale to the USA they did not.

So fuck bitmaintech   Of course if they were to admit they fucked me and apoligze to me I am willing to accept an apology from them.

They won't.  So fuck them.

I never spoke badly about them until they disrespected me.

With a move that was pro Chinese and anti American .

They still could fix it but like I said they won't.

[Your quote layers have messed up]

If you're referring to Bitmain, it did not.


That's entitlement not reality. Just like you can't walk into an Apple store and demand a new MacBook Pro for half price because you bought an Apple PC in 1997.


You are free to accept or decline any offer at any time just as you did - and that's fine. Its not fine to receive an offer, accept the offer then bitch about the person you accepted the offer from because things didn't work out like you thought it would.


I am not on anyone's books. I have also never sold out nor altered or censored my opinion in any way, ever. If I had I'd be a hell of a lot richer that's for sure.

My point of defending these 'big corporations' is that no one is on their side and its always their fault for everything apparently. The continued rhetoric on here is often "fuck Bitmain / big companies / corporations / capitalism / China / foreigners" and not only is it tiring but bigoted and contrary to all logic.

That is still profit, whether in $, btc, coconuts or miners.


PSUs are not consumed during mining, they are a required asset with a small depreciation cost.


That's not Bitmain's fault at all - they offered him a price, he accepted the price and completed the transaction. Anything that happens past that date with further transactions are nothing to do with him.


Instead of bitching that a corporate entity is trying to make money, why don't we take a minute and thank Bitmain for selling to us peasants at all. If they went the Bitfury / any other large manufacturer route of going to VCs to raising a bazillion dollars in order to build private super farms with the latest gen, we'd all be bystanders to Bitcoin. There'd be no protocol voting, no slush voting, nothing.

To be fair, when B1 S7 rolled out, everyone looked at it and said yeah that's overpriced by many hundreds of dollars and even with free electric it might never break even. Really, anyone who bought it was asking to be ripped off.

He is correct. My buddy finally ROI'd on his Antminer S7 Batch 1 that he bought in September. He made $0 so far, only profit is the value of the miner itself. And he was lucky because he had the PSUs already and FREE ELECTRICITY!.

Bitmain screwed him by offering the same miner at almost 1/4th the original cost and killed any decent resell value.

Future miners will be the same unless we get more than one competitor.

yup lol

As I have said for 8 months,BTC mining for individuals is done (unless you have a VERY,VERY cheap source for power)!!!

NONE of the BTC hardware producers give a rats ass about ANY of us (since they know its true)............it's all about MAXIMIZING profit at any cost 

Toptek,I hear ya loud & clear...but Hillary will be nominated,she had the Koch bros & George Soros & the wallstreet & banker buds pay for it already(superdelegates & other crap) 



Sooo,I guess Mikestang will be here soon to holler "ONLY TALK ABOUT BTC HERE!!!!!!" 

Don't we with this shit Verizon is pulling and the Verizon strike, my ISP went from very stable to crap once it all started . Verizon has made this year so far alone if all the BS is true that is coming out 1.18 billion per month they want to screw us even more with net neutrally by stopping it so they can make there own rules which won't be good for any one but them and there all ready nice bank accounts and have only paid 5 years of taxes for the last 15 years it's all  legal that's the sad part and then they wonder why every one is so upset because to them sense it's ok by law to screw over your follow man or woman for money no matter how immortal it is sense the law allows it is OK to do  that all started with bash JR you can't tell me different they won't let that tax law expire he exacted guess not the middle class pays more then the upper class in taxes or millionaire with that law.  

in my state BG and E and one reason i went solar till that gets greeded over on they want us to foot the bill for smart meters no one wanted plus pay some kind of under ground fee the city is making them pay plus a 4 % increases on the bill they get every year sense 2014 and the CEO excuse is, it is needed to continue to give us good service when a few years ago with the same CEO they got sued for bad service by the state no one heard to much about and the only real reason they keep it up they don't want to be sued again or fined big time because they can't recover that in any way or are hiding  something  but bet they sure have tried so now the new thing is charge the customer as much as poss even if they can't pay it .

BG and E made for it's investor last year 275 million reported I'm sure it was more they only report what they have to legally, that makes you wonder how much profit above that they all made .

I hate to think what it will be like once bitcoins actually becomes a big deal in the US which it's not yet but it getting there and coin base becomes even bigger then what they are now .

it's a never ending story with no end in site till our leaders step in which they won't they have to much to lose they think but if they do and if it's Bernie he won't put up with it,he has showed that up till now , i do hope he keeps meaning it if he does get in the white house or Clinton it won't be her calling the shots sense Bill can't run again, bet on that . BC  had us in the black till bash JR and his team stepped in, then it all went to hell.and notice i did not say re-pubs or demo there all to blame and fall to greed .

Trumps a joke

and then there is the insurance company's i wont even commit on other then say im fighting them over getting durable medial supply's i need i will finally get I still have to pay for which i don't mind it was the 45 % share  i had to pay before i fought it, i refused to.

all the above because of Corporate greed and that just some of it .....

So all that said , i hope the reason sp is doing that is not to try and control things but there pride won't let them admit they went the wrong way that's very understandable if so.

 bitfury well see if they really care.

Innosilicon we know how they roll they will sell high all ways and all ways will.

BW might be the ones to watch they may supize us not counting it but they may .

Bitmain our only real go to right now

other then

Avalon with them you never know till it's done and there are all ways higher then bitmain i guess they have to be to keep up but there product is good .

 
need i go on

cya

Finally someone see's the future as I see it.....unfortunately 

Corporate greed knows NO bounds,you folks that live in the US should know this 

It makes sense financially with getting 1/2 better efficiency.  So cut electricity costs in half would be HUGE on a large operation.  But for them to buy A6 or S7 would kinda be giving up in way's.  But they might not publish it.

The reason of S7 was coupon price I was thinking.  A large mega mine size it's hard to tell what they would get on pricing but I would guess pretty good.

I thought of that to sell what they have and buy more efficient miners but i was thinking the a6 there more stable. they can't let it set bills will pile up and drain bank accounts fast.even in china if that's were it's all based at.

They signed a long ass lease on the building with some sort of rent to buy clause IIRC. They're no where close to buying though, so they're currently in a long ass lease for a seemingly empty "data center".

Seems right:  http://www.bitcoinupdate.nl/home/btcs-zijn-hun-spondoolies-sp35-bitcoin-miner-aan-het-dumpen

One thing I thought of if they are not getting SP50 anytime soon (which nothing shows it being close).  The SP35 is 0.66W/GH/s on efficiency.  If you look at a S7 they are "Power Efficiency: 0.25 J/GH (at the wall, with APW3, 93% efficiency, 25°C ambient temp)". 

They could sell off and put in S7's and save a fortune in electricity.  I don't know if they are that desperate but just looking at efficiency it makes sense to get newer gen.  Or even next gen from Bitfury and fill up a data center with it once it hits market a even bigger savings.

I still wonder what they will do with space though the more I think about it.  If they sell miners a empty data center is not very profitable.



good point maybe they bit off more then they can chew ... now they have to sell it off to pay off everyone including the building/s if they own it/them.

or the SP50 is ready and they are keeping it a really big secret which is hard to believe but a possibility.

or they plan to jack up the Diff with the SP 50 so high home mining will finally be dead and no one will sell to home users including bitmain or will but you would have to buy a 100 k worth of stuff and set up your own in home data center not with one to 10 or more miner in your home I'm talking were you would have to add a building to your home and would need a permit to do it and run it or rent a building some place for your own data center, which at that point you would need to do, then once home mining is finally dead take over the network or try to, at that point bitcoins could become worthless.

can't say other wise or understand why anyone would want that or do know why but don't understand why it really doesn't hurt them, who knows

That's another possibility a evil one but possible.

Due to ebay risk you get more selling there.  I have risked it on some miners only bit me on a R1 they got bored of and got ebay to agree to a return for no good reason.  But also there is ebay/paypal fees which add up.  Those fees plus risk of selling there is why ebay always brings more then forum.  People are willing to pay more with paypal backing then with BTC in most cases.   

I still wonder what they will do with space though the more I think about it.  If they sell miners a empty data center is not very profitable.

really 600 bucks ive seen them cheaper on the forums market or thought i did .

That''s eBay to .


Silver Spring, Maryland 

real close to me i could go pick that up but I'm not wasting 600 bucks on something that can become out dated worse then it is now in may be 2 months for sure no RoI if that's your,thing.

That brings up another issue though.  If you have a problem with say hashing board or some component you likely are going to have to use secondary market just like you talk on PSU's.  So keeping PSU's is great for re-sale, but if you have a problem with any  components it's not so great due to high prices of secondary market in most cases.

and since SP doesn't sell replacements, that value sticks in multiple venues of sale.

worth keeping in mind that it includes two powerful PSUs (at $150 value each likely), so its not purely a $/hashrate issue like with the antminer

SP50 has more questions then anwsers at this point.  And even if they do make it bitfury beats them on specs (at least announced ones) by 1/2 on efficiency.  So will be hard to sell a data center sized miner when they can get a machine twice as a efficient.

I would like to hear more about SP50.  But I think silence speaks a lot.  For what it's worth I hope SP scraps SP50 comes up with new chips and makes it more SP30-35 size that home miners might buy, but I don't see this happening.

BTCS is most likely selling for cash flow.  Mining in North Carolina has to be expensive with industrial electric rate over 6 cents.

I think the SP50 have been touted for so long, that it may never happen.  If they do they better redesign or re-configure because they are so out dated now.

No confirmation the SP50 is in production.  They may sell at that price, I am selling one SP31 unit for $500.00 plus shipping.

-D

For the SP35 to make economic sense, you have to have electricity at well under 8 cents/KWh. And that assumes you don't mind making less than 24 cents/day (profit) for your effort. The SP35 seems like it's more like a $.04 or less in terms electricity price, until the halving that is......

As for the SP50, well it would sure be nice to know what's real and what isn't!!!!

The next SEC filing will be interesting. Either they'll say their data center is empty and they sold the miners for cashflow, or they'll trumpet the arrival of something else. Doesn't make that much sense to be taking SP35s offline if they're profitable and you've got all that spare data center capacity we keep hearing about.

I doubt they will sell at that price. They will do well to get half that.

I don't think it proves anything on SP50.  There are a few other miners I think are more likely if it really is close to next gen.  I just don't think SP50 is past rendering maybe some R/D.  But not near ready to sale.

And I could be totally wrong all speculation.

The truth is they are now mining Ethereum, maybe they are going to load up on GPU's 

Will they sell at that price, what with being able to buy something a third the size and power consumption for about the same hashrate (and less noise) for the same money or less in brand new gear?

BTCS is dumping their SP35s. Does that mean SP50 soon? They said they had 120 units to sell.

Proof: http://www.ebay.com/itm/121950645150