Topic: First Asic for SIA - Obelisk SC1 - page 2. (Read 29191 times)

Forking sia will be a disaster for Innosilicon s11 owners. On the upside though it may put less selling pressure on sia which has taken a beating on its price lately.

Kinda a bombshell below, submitted fof those who have NOT gotten a unit and did not get the below email (for you lurkers out there) and to start a conversation on this annoucement.

hmm.....I may have to re-think my views on Sia-Tech NOT trying to pull something out of this cluster....kinda impressed at the effort, if unsure of the result, at this time.

Got this from them via email below

8/13/18


----------------------- start ---------------------------------

The Plan
Dear Obelisk Customers,

Production is progressing, firmware is almost complete, and we expect to begin shipping units this week. We now have approval from our team, board, and counsel to share our plan.

First, we will compensate Batch 1 customers with expected mining revenue. Since we missed the estimated shipment date for Batch 1, we will compensate all Batch 1 customers with the mining revenue that you would have received between June 30 and the day your order ships. As of today, this is approximately $90 for each SC1 unit and $250 for each DCR1 unit. If we miss the estimated shipment dates for Batches 2-5, this policy will also apply.

We will begin sending out this compensation to customers sometime after Batch 5 ships. Obelisk will calculate your expected mining revenue based on a hashrate of 800 GH/s for SC1 and 1500 GH/s for DCR1. Compensation will be in USD, and will assume that you exchanged your mined coins for USD on a daily basis and that your electricity cost is $0.

In the coming weeks, we will put together a more complete guide to receiving this compensation and publish our official calculations so that they can be reviewed by the community. Depending on Obelisk’s financial position after delivering Batch 5, it may take several months or more to compensate all customers.

Second, we will release the SC1 alternative Blake2b algorithm in the coming weeks. This will give the Sia community the ability to fork and could invalidate all non-Obelisk Siacoin ASIC miners on the forked chain.

The Sia core developers are currently considering community member FaustianAGI’s proposal and will soon be issuing an official response. As of today, all Nebulous (the company employing Sia’s core developers) and Obelisk employees are supportive of a fork.
There are still many details to solidify, but we pledge to provide additional information in the coming weeks. We are working tirelessly to deliver your orders, and will continue to update you with our progress.

Best,

– Team Obelisk
Copyright © 2018 Obelisk, Inc. All rights reserved.

---------------------- end ---------------------------

Also below is the 'embedded' link in the email below...for consideration....the proposal for funding of development (from what I gather)

------------------------ start ---------------------------------

https://www.reddit.com/r/siacoin/comments/94ji0q/a_community_proposal_to_resolve_the_obelisk/

-------------------- end ---------------------------------------

I'm not exactly sure how this is gonna work out...but I must admit I'm impressed they are trying like hell to do something about this mess

We will see.....I will happily 'eat crow' on even an attempt to pull something out of this mess...So kudos for them attempting such at least...

Anyway, some of what they are trying to do is confusing yet and unclear, I will let better minds than myself comment below on such for clarity...this is just a start

to the conversation on this

we will see

Brad

most all coins suck at the moment.


https://coinmarketcap.com/

top ten

1   Bitcoin ...................   $104,073,341,911   $6,047.60   $5,298,772,765   17,209,025 BTC>>>>>>>>>>>>   -6.47%       
2   Ethereum................ $26,645,536,032   $262.99   $2,094,657,565   101,319,061 ETH>>>>>>>>>>>   -18.30%   
3   XRP........................    $10,332,284,547   $0.262425   $299,011,379   39,372,399,467 XRP *>>>>>   -14.47%   
4   Bitcoin Cash............ $8,483,402,494   $490.59   $407,921,583   17,292,075 BCH>>>>>>>>>>>>>>>>   -16.23%       
5   Stellar..................... $3,989,657,320   $0.212535   $112,936,251   18,771,734,850 XLM *>>>>>>>>>   -11.15%   
6   EOS........................$3,916,196,512   $4.32   $637,804,758   906,245,118 EOS *>>>>>>>>>>>>>>   -16.38%   
7   Litecoin...................$2,976,210,286   $51.46   $248,824,064   57,840,709 LTC   >>>>>>>>>>>>>>>>   -14.58%       
8   Tether......................$2,414,529,181   $1.00   $3,805,957,297   2,407,140,346 USDT *>>>>>>>>>>>>    -0.94%   
9   Cardano...................$2,382,518,329   $0.091893   $113,117,875   25,927,070,538 ADA *>>>>>>>>   -19.71%   
10   Monero....................$1,352,701,543   $83.16   $31,476,960   16,266,706 XMR>>>>>>>>>>>>>>>>   -14.21%   


almost every coin is a loser to mine   

see my quote above..if at my data hall rate of electric with rent I got a obelisk sc-1 unit today I'd lose -2c a day...from above.

if i had a decred miner today I'd make +6c a day


they are both doorstops and have not shipped yet

brad

Is DC 1 good or SC 1 ?

So did you get stuck with some of these sia-tech obelisks? Or did you 'miss the bullet' and avoid getting any?

brad

God blessed me, i learnt this asic devices very late after announced and stocks was already out. in the bull market i was looking to new asics to grow my farm but this disaster has tangled from me

Sia-Tech is back crabbing...

I got the below just FYI for you to see this cluster

start-----------------------------------------------

Dear Obelisk Customers,

First, we want to sincerely apologize for the delays and the lackluster communication. Your preorders have allowed us to build a strong team and produce two generations of mining hardware. We could not have done this without you, and we are enormously grateful and appreciative.

While some customers have requested refunds, Obelisk is dedicated to shipping out all orders to all customers. We have already disbursed the majority of our funds to engineering, components, and manufacturing for all batches. At this point, attempting to provide full refunds to all customers would be impossible. Obelisk would be insolvent, customers would receive pennies on the dollar, and our ability to deliver Batches 2-5 would be jeopardized.

After significant internal discussion with the Obelisk team, board, and legal counsel, we are putting together a solution that we think is fair to our customers and will have widespread support. Before officially announcing, we need a few more days to finalize the details and guarantee that the plan is viable.

What we can announce is that production for Batch 1 began this evening, and will continue throughout the weekend. We expect to begin shipping Batch 1 units to customers next week. It will take a couple weeks to fulfill all Batch 1 orders, but we expect Batch 1 customers will receive their hardware by August’s end.

We will follow up next week with a subsequent announcement detailing our plan.

Best,

- Team Obelisk
Copyright © 2018 Obelisk, Inc. All rights reserved.

You are receiving this email because you signed up for our mailing list or placed an order on our website.
If you wish, you can unsubscribe, but you will no longer receive Obelisk project updates.

Our mailing address is:
67 Batterymarch St, Floor 4
Boston, MA 02110
   
end -----------------------------------------------------

Likely options below:

1) they announce (most likely rumor) that they are going to overclock these puppies from 500 watts

to 800 to 1000 watts..(burn them out baby) of course the hash rate I've been told is 20% less than

they expected..so most that will do is a 'wash' and burn the units out..this is what I expect...at least in some part.

2) they will offer 1/2 off coupons on their next miner of whatever ASIC flavor and/or also make

a new algo coin to do so (ie Bitmain evil plan) to try and promote these and future doorstops.

3) they announce a new coin/fork (very unlikely with these units)

4) fork coin so that you can mine more siacoin units of little worth but it looks like you are doing

something of note anyway at your electric loss....fudge the numbers up for mining this coin....dangerous.....

again, the most 2nd most likely is 1/2 off some new damn ASIC To Be Determined in the future and

my 1st bet is they are just gonna burn out and overclock the hell out of them as a token fix...

I am 'still' befuddled on how they expect their decentralized storage network to work IF most GPU

miners have already left (and with ASIC's no reason to come back for the few GPU's left) and/or

how do they expect to 'ramp up' their 'vision' network with ASIC's mining electric at a loss...just can't see it.

tweak the algo so you get more tokens? other weirdness?

below is what I'd make if it showed up today I lose -2c a day in the bsmt ..not worth shipping them

with my data hall costs with elec and rent of 14c kWh.

https://whattomine.com/coins/161-sc-blake-2b?utf8=%E2%9C%93&hr=800.0&p=500.0&fee=0.0&cost=0.14&hcost=0.0&commit=Calculate

So, again, the units will stay in the box...

as a side note the decred unit (free one I got for my 5 coupons at 1/2 off) that makes 6c a day..if I had

it now

https://whattomine.com/coins/152-dcr-blake-14r?utf8=%E2%9C%93&hr=1200&p=500&fee=0.0&cost=0.14&hcost=0.0&commit=Calculate

they surely f*cked themselves as much as us

brad

yep, you are likely correct. Without some OTHER blake2b coins, with 'hopefully' some useful coin 'hooks/enhancements' to mine

as well, we are 'crap out of luck'.  Then we get to the 'elephant in the room' for sia-tech themselves....there will be SOME who

run the ASIC's, thus IMHO, blowing out anyone still GPU mining this coin. What happens if, those that do mine siacoin with the ASIC's

at a loss then decide they can't make enough for electric and then they too walk? How can you have a siacoin network with NO ONE

LEFT TO MINE, because you are in a loss daily per electric via coin. That is what has the sia-tech people up at night, not that we

got screwed.





I don't have the skills, I know of no one who has the skills or I'd be all over making a new blake2b coin. The catch is it has to have

(the coin) a good 'hook' ..ie it has to do something of note ...or you are just mining 'air' because the coin is blah...


but, again, you'd THINK, if they could FORK the ASIC's as they said (on the bitmain threat) they could at least have an optional

protocol besides blake2b you coin make a coin of and mine..but then that would hurt anyone mining siacoin in that we would

all 'walk/run' to this new coin ....with NO difficulty....as an example, if I'm going to mine AIR, at a complete loss with electric..I'd

rather mine a coin, at the start, with NO difficulty and get lots of worthless coins on a hunch..then lots of worthless siacoin

on the reality of 'no chance' for profit.

Actual, Unicorns are possible when you look at all the hooks of getting a new blake2b coin off the ground..but hey a guy can wish


brad

Why are there no other Blake(2b) coins out there anyway? SIA probably wouldn't be so overmined if there were other options available.

If anyone gets one, I'll be willing to buy one for 100$ .

Obelisk sia issue is very bad. Will never get your money back. I thinks it's better to leave in box, wait 10 years and sell it as a special collectable in crypto pow history.

In knc’s case, they used 9 month preorder $$$ to spend 3 months filling data hall first

Thus Neptune was obsolete about 3-4 months later. A 3/4 loss. Obelisk has that beat 100%

Loss from day one.

Reminds me of the KnCMiner company.

They came out with a great miner KnCMiner Jupiter, delieverd on time, and people made a killing because BTC went to like $1100 from $200 during that time.

Then they released the KnCMiner Neptune on pre-order, and basically delivered late.... very late. So late that by the time most people received them, they just put them right on eBay because it wasn't worth turning on.

Rename this thread to  LAST siacoin asic

Deafening Silence. Just waiting to see 'when/if' my 'bookends' are delivered?




https://whattomine.com/asic?utf8=%E2%9C%93&factor%5Bsha256_hr%5D=14000.0&factor%5Bsha256_p%5D=1370.0&factor%5Bscrypt_hash_rate%5D=1000.0&factor%5Bscrypt_power%5D=1600.0&factor%5Bx11_hr%5D=34000.0&factor%5Bx11_p%5D=2100.0&bk2bf=true&factor%5Bbk2b_hr%5D=800&factor%5Bbk2b_p%5D=500&factor%5Bqk_hr%5D=3300.0&factor%5Bqk_p%5D=120.0&factor%5Bqb_hr%5D=3300.0&factor%5Bqb_p%5D=130.0&factor%5Bmg_hr%5D=3.3&factor%5Bmg_p%5D=50.0&factor%5Bsk_hr%5D=1.7&factor%5Bsk_p%5D=40.0&factor%5Blbry_hr%5D=20.0&factor%5Blbry_p%5D=200.0&factor%5Bbk14_hr%5D=80.0&factor%5Bbk14_p%5D=205.0&factor%5Bpas_hr%5D=20.0&factor%5Bpas_p%5D=105.0&factor%5Bx11g_hr%5D=0.45&factor%5Bx11g_p%5D=70.0&factor%5Bcn_hr%5D=55.0&factor%5Bcn_p%5D=140.0&factor%5Bcost%5D=0.14&sort=Profitability24&volume=0&revenue=24h&factor%5Bexchanges%5D%5B%5D=&factor%5Bexchanges%5D%5B%5D=binance&factor%5Bexchanges%5D%5B%5D=bitfinex&factor%5Bexchanges%5D%5B%5D=bittrex&factor%5Bexchanges%5D%5B%5D=cryptobridge&factor%5Bexchanges%5D%5B%5D=cryptopia&factor%5Bexchanges%5D%5B%5D=hitbtc&factor%5Bexchanges%5D%5B%5D=poloniex&factor%5Bexchanges%5D%5B%5D=yobit&dataset=&commit=Calculate

above at my data hall summer rates of 14c kWh. I lose -$0.14 cents a day! or negative  -$4.20 per month.

https://whattomine.com/asic?utf8=%E2%9C%93&factor%5Bsha256_hr%5D=14000.0&factor%5Bsha256_p%5D=1370.0&factor%5Bscrypt_hash_rate%5D=1000.0&factor%5Bscrypt_power%5D=1600.0&factor%5Bx11_hr%5D=34000.0&factor%5Bx11_p%5D=2100.0&bk2bf=true&factor%5Bbk2b_hr%5D=800.0&factor%5Bbk2b_p%5D=500.0&factor%5Bqk_hr%5D=3300.0&factor%5Bqk_p%5D=120.0&factor%5Bqb_hr%5D=3300.0&factor%5Bqb_p%5D=130.0&factor%5Bmg_hr%5D=3.3&factor%5Bmg_p%5D=50.0&factor%5Bsk_hr%5D=1.7&factor%5Bsk_p%5D=40.0&factor%5Blbry_hr%5D=20.0&factor%5Blbry_p%5D=200.0&factor%5Bbk14_hr%5D=80.0&factor%5Bbk14_p%5D=205.0&factor%5Bpas_hr%5D=20.0&factor%5Bpas_p%5D=105.0&factor%5Bx11g_hr%5D=0.45&factor%5Bx11g_p%5D=70.0&factor%5Bcn_hr%5D=55.0&factor%5Bcn_p%5D=140.0&factor%5Bcost%5D=0.12&sort=Profitability24&volume=0&revenue=24h&factor%5Bexchanges%5D%5B%5D=&factor%5Bexchanges%5D%5B%5D=binance&factor%5Bexchanges%5D%5B%5D=bitfinex&factor%5Bexchanges%5D%5B%5D=bittrex&factor%5Bexchanges%5D%5B%5D=cryptobridge&factor%5Bexchanges%5D%5B%5D=cryptopia&factor%5Bexchanges%5D%5B%5D=hitbtc&factor%5Bexchanges%5D%5B%5D=poloniex&factor%5Bexchanges%5D%5B%5D=yobit&dataset=&commit=Calculate

At the NORMAL summer rate in the USA of about 12c kWh. You still make +$0.10 cents a day! or make +$3.00 a month!

Living the dream! (FML).

Again, even if they do nothing more than replacing the GPU's on the network. It is NOT worth taking them out of the box,

not to mention wasting a PSU on them each.

Oh well, after taxes I lost 1.11 BTC at the height last year. (like $4,550.00 or some such in real money back then).

It is kind 'odd' though IF they really had a way to FORK with the tweak they claim with this ASIC, (as they told Bitmain)

you'd think, at this point in time, they would use that FORK option for a new coin option from scratch...just to get some

traction. Likely, such a 'hook' never existed and was just talk. But now would be the time to use that and/or make a NEW

blake2b coin of some type. Again unlikely. Again, leave them in the box and use as bookends...

Live and learn I guess.

Brad

Diff between no profits and not even enough to pay electric. If ASICS can’t pay electric you
Just buy the coin amount used in electric. If you mine underwater on electric and have to chip
Chip in extra for electric you are mining coin for more than buying coin, which is silly. Also if
Everyone does same, you also drive difficulty up on your loss. Thus coin dies.


As to cheap storage plan. They have it. But same thing as minerbox. No one knows about it also
Vs Amazon.  The are not marketing this as an alternative.

We will see.

If Siacoin gets their actual network functionality launched that enables mainstream cloud storage and cloud backups, basically all the features that Minebox was "supposed" to do, I think it will make their network viable again but who knows what they will accomplish and when.

To me it's a core of dedicated people with big aspirations.... and I hope it pays off.

I bought my Obelisk(s) to support the network expecting there wouldn't be profits from them at least on the short term.

well at least they could do like Baikal and try to encourage new algos for blake2b

as I've said before...from everything I see ..they are just 'sliding by' on stuff..hoping it all works out

not a well run project from any direction from what i can tell (remember minerbox ..meh)

ah well, lost 1.11 btc in total on this on and over what I'd paid in taxes and the equip deduction....or about 4K in real $$$ more or less

so it goes

brad

p.s. Ave USA kWh price is 13c a day. After electric that is 97c a day at today's prices, so yeah, $30 bucks a month is not gonna cut it...but again, they are

covered with the BTC for this equipment they got....likely more than covered, if they held a lot of this BTC, so the point is moot, we are left holding the bag.

I still think they don't resolve this, siacoin will die. Sure it will replace GPU's, but again, if it doesn't pay to mine ASIC's at that point...it will just fade away, it

is not if that is the case you can bring GPU merge mining back at this increased difficulty.

Well this one looks like a train wreck unless the SIA guys pull a rabbit out of the hat and say they are flipping the algo in the new miners so only the Obelisk's are supported.  I don't see how these will be profitable otherwise.  Big mistake telegraphing your moves when you have smart and aggressive competition.