Topic: First Asic for SIA - Obelisk SC1 - page 21. (Read 29272 times)

I suspect no one thought they would pull this off initially so no one would get on board.... but when you have over 1 million USD in pre orders already, maybe some merchant processing company decided to jump on board.

I saw they are now accepting wire transfers as payment when they stated before they couldn't do it I believe. Not sure if panic mode or what.

It probably is, the SIA Dev team has indicated they are manually approving all orders and one of their Devs is doing double duty on updating the Obelisk site.

I feel like that number should be higher.

I might even give them a butterfinger 

Looks like current pre-orders is 630 as of today.

1370 to go

I believe their target was 2,000 units. They seem to have made accommodations for a second batch order, while still rewarding first batch buyers. 1st batch participants get at least 6 weeks of mining without 2nd batch asics on the blockchain... as well as a $250 coupon for future Obelisk products.

But consider what just happened. Obelisk raised 1.25 Million dollars in a short amount of time with no track record, no prototype, a one year lead time, and speculative specifications.

I'm all about being skeptical, I am... but maybe we give Obelisk a piece of that Kit Kat Bar...

Until now they have only 500 order. And number didnt change since yesterday. Arent they updating or noone is buying?

Or even with Litecoin, there may have been some "pump and dump" at the time... there may STILL be people mining and dumping today, but the point is that OVER TIME, the people who just mined and stacked Litecoin made out, and those who traded their Litecoin sacrificed long term appreciation for short term gains.

The Litecoin network was able to withstand whatever short term trades happened at the time. I'm not saying SiaCoin will necessarily follow this same pattern, but regardless I don't think that a few (or a lot) of sia asic operators trading out of Sia will destroy the SiaCoin, especially over the long term...

How to explain bitcoin then and its value going up despite chiense asic farmers??

https://twitter.com/jgarzik/status/296709252351926273 ~around this date, 30 Jan 2013, people were getting their first asic miners, and the price in a month went from $18 to $34... and continued to rise until the crash.

asic coin are always bad when an asic hit a coin, that coin value can't increase anymore or just will be pumped but then dumped again look at litecoin, after the new l3 the price remained there, after the first pump because of segwit

If you go with a 1070 Rig using Claymore, you can crank the ETH intensity down to about 26MH and Get about 550MH SIA if you crank up the -dcri intensity

So a 7 GPU Rig could do 182MH ETH while at the same time do 3850MH (3.8GH) SIA

The Obelisk is supposed to do 100GH out of the box and use about 500w to do it.

I'm sure you could squeeze more out of the 1070s but it's never going to compare hashrate v. power.

I don't have the Minebox yet but I have pre-ordered the 16TB version and will be updating it to 32TB once I receive it.

as an aside....if you built say a 5 card rig (your specs) what supposedly NOW could you get out of it with siacoin? just wondering maybe that is an angle

as to the storage aspect

do you have to buy a miner box to sell space on their network or can you build your own for that aspect of siacoin

the site says they still have some for sale but kinda clueless on how that part of all this works yet

brad

They are planning on releasing a GPU Style Sia Mining Asic for around $1000 USD in the future but due to fixed costs of Asic chip manufacturing they had to start with something bigger to get the initial R&D done.

Well titans do scrypt pow in Nov 2014...first real killer scrypt asics in massive amounts for scrypt pow coins in the day

they then came out a month  or so later with scrypt-n for scrypt-n pow coins (which as far as I'm aware are virtually non-existant now)

they blew up scrypt-n in one week and destroyed the protocol..and thus all the coins of that protocol

not saying it will happen..or even it could happen...but too much piled on too fast ...well just an example

(to scare everyone..bruahahahaha) (ahem...sorry)



edit: I have one of these Obelisk SC1 miners coming..I may get two BUT I also from mining need to set aside the rest of the year according to my CPA Lady
45% of income made for the nice IRS man (self-employment tax/IRS/state etc) to be safe.

Thus one of these is 5 days of mining now for me..thus I can afford to take a "flyer" on these units...if they never come to pass and IF
the folk are legit I'll get a refund in 2018

So in reality, I'm risking 55% of the amount of every one of these I may get (comparatively speaking off my taxes I will pay on income this year)

thus I can afford to be somewhat brave (or stupid/silly/smart..... pick a word)

So right now I can pay the IRS 27k on income this year (if I buy no more equip) or get around 60k of equip

so anyway, place your bet and take your chances...but me...some of this will be gone anyway...so taking a flyer on this

( the last flyer I took was on KNC 500mh Jupiter BTC miner on Oct 18th 2013 for $7K..that worked out)

Do your research, place your bet..and pray to the ASIC gods or hell at my odds just flip a coin.

It becomes easier to, as you go. Just be wise and don't fall for these scams.

Thank you for the reply.. but difficult to understand, no ?

Like all asic coins, siacoin's value will stagnate after asic miners hit, it will not increase cause people will sell as they go hoping to get the value they paid out of it. After they get the value they will still keep selling it to get the money and invest on other coin and you may ask why they will sell? why not hold? the same thing happened to litecoin, see where it went? siacoin devs will have no control of asics after a later date, chinese will mimic improve the damn thing and then will be gameover. Nobody will invest on it cause there will be no control, just like bitcoin, litecoin or any other asic coin. I mean nobody understand why the chinese could sell thousands of bitcoins at 200 usd when europeans and other asic producers around the globe could not sell a bitcoin for $400, see where i'm going, how the chinese could and the rest of world could not? chinese are the greatest mimic techs of the world and once you give them a way to cheat the system like the siacoin devs are doing then its a gameover. The siacoin devs are dumb or perhaps they know where this is going and they want to make a one hit and run for life.

What do you think about the impact of such ASICs on the SIA price ?
UP ? Down ?
The difficulty will rise a lot, that's certain, but the price ?

Too expensive, remember they made projections, if it was right now then with the equipment, it could actually mine around 230k siacoins per month, as soon as thousands of asic copies are put into the network then we will really see if those numbers added up, their projections are based on around 60k per month which is almost 4 times less than now, and that figure adds to 9 months of an increasing hashrate, thing is, with that amount of money you can get 100% of the money invested around 9 months or so as things stay like this, aside from this is hard to predict anything.

As any preorder, as long as you pay 10% of the value then 90% when they deliver then is fine. That will be a minimal loss if they dont deliver, question is, do they have all the money to pay upfront to the production factory to start producing them? Most asic producers dont, so that is why they are most scams but then again why would they pay all upfront and then sell and people get their roi in a month or so. My guess is they could base the value of that equipment based on returns. So right now $2500 is very expensive, if they could deliver right now at $6000 then it would not, see where i'm going. I would never preorder it. The asic market is a scam.