Topic: First Asic for SIA - Obelisk SC1 - page 6. (Read 29272 times)

This new Antminer A3 miner appears to be a basis for Bitmain's entrance into a cryptocurrency which will support the massive off-site data storage requirements inherent in its AI operations.

Siacoin was added to antpool, as of now 182 machines, 150 TH/s. It's happening...

this means war! Oh, Goodie. Gets popcorn!









Bitmain is likely doing what they always do..mining them first...so this was a taste just to show folk they exist....after bitmain mines their cut on these, they will then release

so expect an unexpected difficulty jump in siacoin..it will be bitmain..they have done this before (rinse/wash/repeat)



here is the link again of the sia tech saying they have an asic hook to keep bitmain in line (or others)




https://www.reddit.com/r/siacoin/comments/7r1xcv/11718_obelisk_core_commentary_on_bitmain_a3/



we will see

brad

The Obelisk was to long to market I think, almost a year was the reason I opted out.

Ask and it will be:

https://www.reddit.com/r/siacoin/comments/7r1xcv/11718_obelisk_core_commentary_on_bitmain_a3/

and official thread of Taek42 (SIA Dev)

https://www.reddit.com/r/siacoin/comments/7r4spy/dev_team_thoughts_on_the_bitmain_a3/

Hi,

I'm waiting the Sia response because a guy from reddit post this link about the co-founder of Bitmain

https://twitter.com/jihanwu/status/704476839566135298?lang=en

Yes, it's just for Bitcoin but for the others coins

Wait & See

BTW A3 was only sold 1 per customer. So they are most likely selling them in very small batches as to avoid situation with D3. Also good time for them to sell them during BTC dump.

And reason why they made this is cause Blake is one of x11 algos, thsu if they invested in making x11 machine making Blake one is trivial. Just because they can. If profitability is high expect ASIC's for alll Baikal-B algos.

My only thoughts on motive  for Bitmain would be to attempt to pull the rug out and prevent another potentially competing hardware ASIC vendor from entering the market.

I actually don't get the move from bitmain to make an asic for this .. the 11x market has lots of coins the blake market not nearly as many.
I guess they just hope to dump all their miners before people catch on that the market doesnt justify all these miners ?


the predicted miners from the Sia devs where limited in number leaving some meat on the bone with bitmain there wont be anything left after the first 2 batches like the  guy on the previous page said.

I got in on the first batch from ITOP, I can confirm at least that the ones I received aren't vaporware.
Sorry for the bad pictures, the person setting them up just snapped these up quickly:








(Sorry for the off-topic post).

Another thing to remember is the obelisk is rated at 500W and a3 is 1200W both are 800 GH.

Not sure how I feel about the "soft fork." Sounds kind of like a monopoly and defeats the purpose of "decentralizing" and an open market (not that bitmain hasn't done things like this either).

It doesn't matter if it was Bitmain or another company,  pre-paying for a yet to be produced asic miner that you won't get for nearly a year is a terrible idea. There are better tax shelters out there than speculating on this stuff

LOL do you have a source for this?  Any change like that would not be a soft fork

Nice move from SIA devs! 

It's not over until it's over....

From SIA developers regarding Bitmain Asics...

We prepared for something like this by adding an extra feature to the SC1. We can do a soft-fork that slightly changes the PoW algorithm which would invalidate the bitmain ASICs, but allow the SC1 units to continue working.

Let the games begin!

in our defense ...bitmain DID NOT go completely evil until AFTER July when I ordered my obelisk units....

in 20/20 hindsight since then ...holding equip and mining with it ..claiming firmware problems on price pump and to stop seg witness (bitmain) (by the by

my units after 6 weeks of holding them show jan 2017 firmware, I looked)

the Bitmain D3 fiasco etc

yeah, you are correct


but a lot of us bought these units before the whole bitmain escapades above and BCH etc and asic boost even happened

but you have a point...it just does not apply to me...on when I jumped and got these..I NEEDED the tax write off because was making

so much $$ from the previous NON-evil bitmain machines....I took a chance

sh*t happens it did not work...but again I'm only out 25% hit....over other taxes and or equip deductions

so anyway, 1st batch folk....we never had a clue that this was gonna play out in this manner...kinda sucks really, I liked bitmain beginning of the year....

aww, who would have thought what some of us SAID would happen months ago with Bitmain actually WOULD?
well, me for one
you guys knew this was gonna happen, this is what bitmain DOES    

but hey i hear in 2019 the obelisk might have a version thats over 1GH......      (bitmains should be 10+ by then)

again my post above (my thoughts who the frack knows!)

but anyway, ONLY the first 2 batches will be profitable....usually bitmain tosses batches out between 2,500 and 5,000

so you MIGHT ROI on the first couple batches..but again w/o sia-tech asic network to eat up all this siacoin for their legit

storage use.....I see siacoin going no place in price

maybe, another blake2b coin(s) will come around and save us...I doubt this

and again...from what I've been told..it is easy to make a decred miner ...so when these blake2b bitmain miners fade that will be the next

shoe to drop

with a 7 month lead time over Sia-Tech units.....I wonder if we will even SEE a unit...or maybe Sia-Tech just declares bankruptcy and walks

or goes POS coin route or something with another coin they make....unclear on how they will navigate this ....with the amount of coin

that will be in existence and NO ONE by July (even bitmain) feeling it is worth the loss of electric to keep their ASIC network up or launched

be interesting to see how Sia-Tech folk address this whole  Bitmain cluster

anyway, I'm out 3k and change in real $$$ vs paying tax man (see the previous post) I feel sorry for folk that ONLY have the 25% equip deduction in equip

in USA to fall back on...and are going to eat a 75% loss...w/o the equip depreciation credit....it is a 100% loss for some folk....

but again expect bitmain to release a decred miner as the next step

Nearly bought the A3 upon announcement this morning,

Steering well clear of any first batch miners until i get some reviews!

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