Topic: First Asic for SIA - Obelisk SC1 - page 22. (Read 29272 times)

Their ASIC is expensive, it looks like a centralization club. If they had multiple models including some that weren't worth 2.5k USD than the sales would be more distributed

You have a point.

Well, the ASICs will not be able to mine Sia until they arrive 9-12 months from now. After that it IS likely that ONLY asics will (be able to) mine SIA... but that's kind of the point. I think, until that happens, it'll make sense to GPU mine Sia... even if it drops in price... that may make it MORE desirable to mine as you could pick up more of them as other GPUs switch to other cryptos.

Price is already crashing, soon only asics will be mining siacoin, bad move from the devs.

That is absolutely true. One COULD buy and hold any amount of SIA to benefit from any future price increase... but that is somewhat limiting. If you invest $1,000 in SIAcoin now, you would pick up about 69,000 siacoins... if it doubles in price, youd have $2000... but that's it. The Obelisk SC1 will allow you to mine SIAcoin indefinitely. The only thing that would interfere with that ability is if the price of SIA drops so much that it cost more in electricity than you can make in mining SIA, or if some other company produced some bigger / better ASIC that leaves the SC1 in the dust.

I don't think the latter is likely to happen. The people making this ASIC are FROM SiaCoin. Their reason for making it has a lot to do with their belief in SiaCoin's future and their desire to secure that future. Other larger ASIC producers (bitmain, baikal) are unlikely to follow suit, at least in the short term.

Bought one too, i think it was a great investment. Will be able to say so after start of 2018 


Greets Hank

As of 1 hour ago they are up to 500 units sold with a goal of selling 2000 units during the pre-order. They are hand verifying every pre order.

They have indicated if they do not reach 2000 units sold in 7 days of pre-order that they will likely offer another pre-order option later but without the perks offered in the initial pre-order.

1500 to go!

They are converting the BTC payments to USD immediately after payment. They will see no benefit from BTC price rising

Yeah, I just got one but I think I will also get one from the second batch with my handy $250 coupon that is coming with the first one.  That should at least keep my Sia earnings consistent for a long while.

I absolutely agree here that there is no way for them to lose because any way you slice it they win

Asic profits = Win for Devs
SIA market cap increases = Win for Devs
SIA architecture market share increases = Win for Devs

If the asic project fails and you get a refund in USD and that would really suck if that happens. My hope is that it doesn't happen. From everything I've pieced together from the myriad of information on Reddit, I don't see this venture failing with the number of investors out there wanting it to succeed privately.

My issue is that you could potentially make more money investing in SIA today for $2500 and then dumping it after the pump from the asics happens. This issue is what initially prevented me from considering what Asic brings to the table. After thinking about it long term and what I think the SIA architecture can do if I simply bag hold today and not look at the short term profit/loss of the venture, it is my belief it will pay off tomorrow(someday).

I just got 1 for now, I figure I'll set my Minebox and my Obelisk next to each other once I have both.

Not a slam...just an observation


there is no way the devs can lose on this ASIC development

1) if it all goes according to plan and they make/sell units...they know their profits

2) if the project fails and BTC goes by next July to 5k or 7.5k etc ..they will refund us in USD.

My only issue is ..they COULD discover sometime in March 2018 say that they could make more $$$ if our BTC tripled
and they refunded us USD ..thus why bother with the miner

just a thought

to make you go hmmmmmmmmmm

 
edit: by the by did anyone get more than one? I jumped in with ONE because a buddy jumped in with FIVE and I did not want
to be left out. (yeah the old double dare)

others? curious?

So how much SIA can this asic miner mine in a day if anyone can speculate?
I just check SIA price is less  than $0.05, someone with $1K can definitely buy a ton of it to hold for its pump. If you hold today, you wouldn't have to mine and spend electricity bill for it.

Got my confirmation e-mail that confirms my pre-order so I'm now in line waiting on one of these.

I know as of yesterday afternoon they had already received 430 pre orders of Batch 1

They have added some additional "pre-order" perks (maybe they were listening to my post from days ago? one can hope...)

So remember these increase the network difficulty tremendously... so initially Obelisk had put out estimated earnings at about 60,000 Sia a month.  I don't know if they removed it for legal reasons or just because they didn't want to be held to that but I think it is a pretty reasonable suggestion.  It really depends on how many of these they sell because, presumably, the total block reward divided by how many asics they sell will be the earnings since I can't imagine anyone GPU-mining Sia after these come out (except the most ardent Sia fanboys that didn't have $2500 to shell out).

Burst - if you have filled HDD with some data, it doesn't always mean it's a data storage crypto coin.

I pre-ordered my Minebox 16TB the day it became available. The last update I got was about 30 days ago with no specific ETA. I suspect there have been some delays to its release since SIA has made some updates to their network during the same time. In addition to this I know Minebox has been closely partnering with HP Enterprise and it was recently shown off in their booth at an event in Vegas.

As I said previously, I believe the SIA architecture is more than a pump and dump coin and while I believe there is more risk than there is potential rewards in the short term of buying this Obelisk Asic, I believe it will pay off in the long run (assuming it becomes a reality). My Minebox only has successful value if SIA works out and is adopted by the masses and the Obelisk is a step towards helping that IMO.

In short, From what I read over on reddit, its not going to be an issue for SIA to get enough money to R&D the Obelisk Asic as they had private offers to 100% fund the venture. They indicated they had multiple offers and that they want to restrict any one private investor from buying no more than 20% of the hashrate while simultaneously making the Pre-order which could have been private, a public event.

Based upon what I have read these Asics will be a reality at some point and the SIA Devs are trying to make sure that the Asic ends up, at least in some capacity, in the hands of smaller miners rather than having large private mines controlling a significant amount of hashrate along with a single large private company controlling the Asic development as we can see with Bitmain and BTC.

This is a video about Blockchain and HP Enterprise, the Minebox partnership is mentioned about 21m21s in - https://www.youtube.com/watch?v=7hEiHR-K_KY

My closing thoughts around my decision to buy the Obelisk: I missed the boat on BTC when I decided not to build a GPU miner and invest a few thousand into it back in 2009/2010... I think SIA could be bigger and I'm not going to make the same mistake twice.

not me it's pointless to have a asic, they run out of profit very fast and become useless, stick with gpu for the best earning, the last good asic for me was baikal but that one had many algo, this only one, also sia is not that profitable, this asic will only kill the remaining profit

Saw this, some thoughts:

Looks sweet, but we have seen this b4 (new algo asic's) - never ends well for a multitude of reasons
Still thought maybe i would buy one, then saw ship date. oh, fuk that, a year till even SCHEDULED to ship? NO WAY
100gh/s?  will not only be MEH for sia in 12 months, but who knows where the price will be

ill take 1BTC instead and lock it in my trezor.  in 12 months lets see who has more value

+0.5 points for a prayer someone makes new coins with Sia's algo, it might ROI then in less than 10+months.

Kind of in the same boat.

At 100GH/s I think the returns / months in SIA are like 300'000 SIA or 4500$ at the current rate, so it would literally pay itself off in 2 weeks.

But if you dump everything you mine per day or month with an Obelisk (which is quite a lot of coins), I have a hard time believing this won't sink the price of SIA. I haven't checked on the exchanges what the demand of SIA looks like. But basically 10 Obelisk will mine 3'000'000 coins a month. And I'm pretty sure there will be more than 10 on the network...

I understand the logic behind the ASIC for SIA but I'm unsure if I should keep my coins or dump them...

have they even shipped this yet?

[url]https://minebox.io/preorder">http://> [url]https://minebox.io/preorder

there 8tb and 16tb minerbox thingy says june 2017? and still has 38 left?

just wondering how this plays into this?

anyone have a minerbox beast or one ordered etc and want to chime in