Topic: First Asic for SIA - Obelisk SC1 - page 10. (Read 29250 times)

too late @Searing ^^

well, I just ordered one Sia-Obelisk. I'm already happy if I get the investment back

They mention on the site that  in 2nd batch they sold 849 pcs of DCR1 and 871 of SC1 so far, so i just assume that they may sell about 5k units combinedin this batch (till end of the month).

I am considering to order 1 unit of each.

sorry what mix of units.....5 decred? or 5 obelisk sc-1's from batch 2 or a mixture of each?

I already have FIVE sc-1's so wondering on what folk thought about the decred miner option they are offering

as to the tax issues.....and the 1/2 price coupons....well...perhaps wise moves or dumb moves are made I guess, from such silly coincidences...

brad

Sorry i coudn't quite understand your point.   Let's put away tax issues you mentioned.  Current "estimated" mining profitability is huge with obelisk efficiency - if you mine with them now.    Yes, it will drop a lot after release.  Same situation happened with D3 Bitmain dash miners, when profit droppped from a few thousands USD/month to $150 just withing a couple of monthes after they flooded the market.

But D3 were produced in huge qties by Bitmain - dozens of thousand units.   Unilke Obelisk - just 7k units have been sold in batch 1 (SC and DCR combined) and maybe 5k will be sold in batch 2.  Also obelisk says it won't  hugely mine by themselves - like probably Bitmain did.  "Obelisk intends to operate up to but not exceeding 20% of the hashrate of every cryptocurrency for which we make chips".

In this circumstances difficulty should not increase dramatically, like it was with Dash, and profit won't disappear.  Don't you think so?

So if you are a silly f*ck like myself and already have FIVE of these (shudder ..hopefully NOT vaporware Unicorns on order)

AND should be insane enough for FIVE more units in the 2nd batch. (w/the 1/2 price coupons)

Is the Decred miner the way to go ...to increase my odds....(supposing these unicorn/rainbow miners exist?)

just asking what folk think about the Decred unit as an option or a hedge in my case on the last FIVE maybe unicorn purchases

or no one has a clue?

p.s. newbies remember I'm getting these MAYBE because I'm in the 50% tax rate

(40% mined coin used less than 1 year ie capital gains on profit made on such HODL'ing
and then spending and 10% state tax..more or less call it 50% set aside to be safe if my mining Income goes poof say around July 2018...got to set aside for equip and/or
the tax man, while you are making income....)


I also have taxes DUE I'm sure this year of 2018..thus I can get equip deduction for 5 years all in this year for a total of 25% back against taxes I'd have to pay anyway.

Thus MY risk is 25% more or less above taxes paid...vs the above equip deduction and the tax man...IF you don't have any of the above your risk is a FULL 75% loss, if such units don't ROI and you just have the 25% equip deduction (assuming you have INCOME in some manner from crypto to justify this)...then be aware of my 'convoluted' logic on all this

so again, as a newbie, you may be way better to just HODL coin....I have embraced my cluelessness in that it has worked before....don't become me It can be 'unsettling"

no - with the obelisk for sia you cannot mine decred because decred does not use the same algorithm (sorry - I should have said "the sia-obelisk uses blake2"). However, as far as I could see, Raiblocks uses blake2 (I don't know any other coin though that has blake2 as mining algorithm). Though I guess that one would write the software to mine something else than sia on the sia-obelisk

Thanks @kurbeks (but the sia-obelisk should have more than 800 GH, which is 10x the Baikal, or?)

Thanks for info!   Do i understand correcly that  it can mine both Sia and Decred - unlike Obelisk who has two different miners.

Also hashrate is  10 times less for Sia and Decred, than of Obelisk ?

Surely they have time advantage, if they are available soon.

Baikal B is already out - https://www.baikalminer.com/product10.php

Did I get this right that the Obelisk will be the first blake2 ASIC on the market? Could it be actually used to mine Raiblocks as well?

All, I have on my 'dubious' use of crypto to buy miners from 2017...is on the OLD 1st batch calculator it was 750,000 coin for 5 obelisks I have, per month.

Also, with the release of ASIC miners, they expected the amount of Siacoin to exist in the world to increase by 25% each month thereafter...

anyway, that info is no longer around from what I can tell ..nor the calculator for Siacoin estimated profits


unsure, if this helps, all I have to go on is above

Hello guys, can anybody calculate/estimate what difficulty will be for Decreed and Sia coins after the first batch starts mining, with these figures of the sold miners?

SC1: 3600 units

DCR1: 3000 units

I was just letting everyone have a good laugh at my expense......I did NOT buy a lot of mining equipment...at the end of the year

just the sia stuff.....majority I did at 1st part of the year for crypto and have killed it this year

actually, that slack allowed me to gamble with obelisk's as a hedge because the tax man was gonna kill me w/o equipment

catch 22

but no, always have a reason to do stuff...but when BTC went beyond 2.5k ..well....them days of using crypto and mining it back died

around June 2017....up until then ..the angle has worked well for me since 2013

but your point is vaild, from now on take out a 'bank loan' and if it all goes pear shaped THEN use crypto to get out of the hole

but that will only work from now on with very modest amounts of equipment that make sense

anyway, w/o the siacoin miners at 10,104.00 ....I'd be in doo/doo with the IRS now ..so again ..ego wise it made sense back in the day

er now...er $$$ first then crypto if you get jam'd up..but only enough $$$ to get modest equip for deduction reasons to use for IRS

by modest 1 or 2...but even such miners do not exist and may not exist for a year....if ALL cryptos continue to play this MOON SHOT game!

live an learn....(don't be me)

brad

My bad

It wasn't me but Searing

For basic i never use BTC to buy mining equipement oO

When i buy mining equipment is only from new money, i never take from my crypto stack ...

On other way you make a bet, if BTC go down after your buy, you win ... In other way you loose ...

Second you blame someone cause they tell to you buy SIA ASIC, well you are a grown man and you take YOUR DECISION.

DONT BLAME OTHER PEOPLE FOR THIS oO

Yes, thats funny...in a long run you'll probably never mine enough SIA to catch up to value of those 4BTC...then again, who knows what the future holds for us...

Well, the equip deduction is nice...I did mine the crypto to get the 5 obelisk sc-1 miners for a total in USD of $10,140.00 USD.

ON THE OTHER HAND

In 20/20 hindsight it cost me 4.108 BTC. That amount of BTC (at the current price as I type this of) $12,760.44 USD gives

me a total cost of $$57,419.89 at current BTC prices......yeah....mental giant I am! Not a real deal for 5 Obelisks. Had a buddy do the same.

(I shall blame him...he got 5 first...I simply had to follow...it is all his fault!)

And the price of BTC will likely GO UP MORE by the time they ship.... June 2018

Not sure if I should mine them or leave them virgin and put them in a bookcase shrine..never to touch the internet on their rarity!

fun times, damn silly hobby I got into...but hey!!!!

I HAVE $10,140.00 USD I can take off my gross income this year for tax purposes......




sheesh.....

brad

I think I was unclear. It is 25% real $$ saved off taxes I know I will owe. To get that all equip
deducted in this year. Thus the angle and again 50% on top of that to taxes if I don’t get equip
anyway.

DCR1 Miner + Presale Updates
We are very excited to announce the presale launch of a second Obelisk miner: DCR1 for mining Decred. You can read more about it on our blog. We were able to reuse much of the SC1 chip design, since Decred's Blake256 mining algorithm is very similar to Sia's Blake2b.

The DCR1 can only mine Decred, and the SC1 can only mine Siacoin. This new product launch will not affect the timeline, and we are still on track to ship both models by June 2018!

If you've already purchased an Obelisk SC1, you can use your order number as a coupon for the DCR1 presale. More details about coupons can be found on our FAQs page.
 
Additionally, we are excited to announce that the SC1 will ship with a minimum hashrate of 300 GH/s, which is 3x what we originally promised!

The presale for both the DCR1 and SC1 will end on November 24. Please let us know if you have any questions or feedback.
 
Best,
 
- Team Obelisk

Have you looked into taking bonus or 179 depreciation on your equipment?  Bonus depreciation allows you to take an extra 50% in the current year and 179 allows you to take the entire amount in the current year.  Just a thought, but feel free to reach out if you want more information.