Yes Obi buyers have been f*cked , you could even wonder if the obi sellers knew this was coming and are just planning to buy the chips of bitmain later when they can get them for peanuts because the market will be totally saturated an no profit to be made anymore on selling miners.
Yep.....we are hosed.....
Bitmain will kick them out like toasters...and in that the inflation rate of coin added to the world according to the Sia-Tech folk on launch that was gonna be,
with their units, an additional 25% more coins in existence per month.....and that was month to month I think for a bit
thus, without the storage plan that Sia-Tech has planned and the ASIC network to use or slurp up these coins...with the anon storage plan etc
Bitmain will do the same as it did with the x11 and Dash D3 miner...flood the world with them..too many coin...difficulty to the moon....doorstops
so by the time Sia-Tech folk HAVE a network up...it is unclear to me IF it would make any sense for anyone to even pay for electric to RUN the network
with so many coins about..they could just skip the whole network idea and just us the coin in existance...no ASIC network needed or such a network
would be no profit vs electric (note on above ..i likely don't know what I'm talking about..but looks like this to me at this point in time and bitmain involved)
i probably don't know what I'm talking about above on such, again, but I sense this is gonna also put a big crimp in the Sia-Tech network plans...do they
launch such early, because bitmain miners exist, or do they not and watch bitmain drive difficulty up and slam us around in another manner/unknown
but I do know that unless you get a 1st or 2nd batch bitmain miner A3 blake2b....you likely with the bitmain miners will NOT make any cash...if they shoot them
out in 5,000 unit batches as they have done with all other product.....and you are in the 4th or 5th batch (usually they start out with this weekly and sell out
at least the first couple 2-3 weeks) you are just as hosed as us Sia-tech miner purchasers
yep, 5 obelisk units...NOT my wisest move
oh well, needed the equip deduction anyway, so it was a 25% risk above paying the IRS and the state a total of my 50% tax rate...so that was applied to these units
and 25% equip deduction compressed from 5 years to 1 applied to taxes I know I will pay this year....so that saved another 25%...thus my total risk was 25% with above
so ...for my 5 units at $12,670.00 including shipping...my total loss vs paying IRS and State Taxes will be $3,167.50, again if they arrive as likely doorstops
thus if you are NOT trading IRS due and above tricks for equipment ...your total risk was 75% vs 25% equip deduction...so DON'T BE ME... I had an angle
lame angle in hindsight, but still an angle
Although?
there MAY be some hope...perhaps some new blake2b coins...but the odds are long.....
Bitmain will pump these out way past the point they can ROI..again if like the Bitmain D3 x11 miner.....those D3 folk will be lucky (especially now with price dump) to get
25% back towards ROI
by the way....any other protocol besides sha-256/scrypt-pow/x11/blake2b I should be aware of that Bitmain will make a miner for in say 3-6 months so I can ponder such?
Be nice to get a heads up...
you got to admire...bitmain's evil genius on mining and pumping bitcoin cash from inception....they got the whole evil empire thing down pat! Not to mention with BCH
they are still getting 15% to 20% more out of their miners with ASIC boost (why they hate seg witness that hardware trick don't work) ah.....evil..must be nice
to have no moral qualms and just sail thru life....going the full evil route.....refreshing probably....no entanglements/morals/etc....hmmmmm.....
on a positive note, I do have at least 5 doors that can use doorstops come July 2018 for air flow to my house (could have been worse almost got more...shudder)
so that will be a nice 'ego check' on doing something dumb like this in the future.....if I have to look at a bunch of unboxed obelisk units as doorstops all summer (yech!)
live and learn
bitmain: we do evil well (tm bitmain) bitmain: evil pays, don't ya know, don't believe the hype otherwise (tm bitmain) Bitmain miners don't kill ROI, users buying kill ROI (tm bitmain)
anyway, obviously I'm clueless, backed the wrong horse....but my take on this all
brad
p.s expect an annoucement of a Bitmain decred miners as soon as they get to the point that these blake2b units they ship are doorstops...that was the other
shoe that will fall, I was trying to remember, in how the bitmain playbook works now.
FML