GMO miner B2: 7NM mining within reach?

philipma1957

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Quote from: sidehack on December 29, 2018, 05:32:11 PM

I think he means KNC's first ASIC offering, not that KNC had the first ASIC. If I remember right, ASICMiner had the first ASIC and Avalon had the first publicly sold ASIC.

The point was, those hardwares were among the few built on pre-order money but without completely screwing over the customers.

Yeah their first asic offering people made good money on.

As it was ordered when coins where cheap.
Delivered before coins shot up to 1200.

Once coins did that then knc became thieves.

I was referring to Avalon batch 1 asics as people made good money with them.

Avalon went bad after that then became good again.

If you grabbed those preorders you did okay.

sidehack

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Not the ones who were already too broke to buy in!

Also yeah, GMO bailing out is not a surprise at all.

kano

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Quote from: sidehack on December 29, 2018, 05:32:11 PM

I think he means KNC's first ASIC offering, not that KNC had the first ASIC. If I remember right, ASICMiner had the first ASIC and Avalon had the first publicly sold ASIC.

The point was, those hardwares were among the few built on pre-order money but without completely screwing over the customers.

KNC did screw the whole bitcoin community over Tongue

sidehack

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I think he means KNC's first ASIC offering, not that KNC had the first ASIC. If I remember right, ASICMiner had the first ASIC and Avalon had the first publicly sold ASIC.

The point was, those hardwares were among the few built on pre-order money but without completely screwing over the customers.

kano

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Quote from: philipma1957 on December 29, 2018, 12:50:58 AM

...

Exceptions

...

First batch of Avalon 1

Knc first asic in 2013

These all did well enough.

Two were new builders with new gear.

KNC (who wasn't first) built everything using bitcoin community money and basically ripped everyone off.

Avalon: this was not their first mining hardware.
They made the original Icarus FPGA miners.

As for on topic - GMO went the way I expected when I posted about them a year ago Tongue

minefarmbuy

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Funny how the GMO thread has turned philosophical in a sense.

More manufacturers allow for decentralization. Essentially you have to look at it like a free market; more competition, more innovation and progression towards a better product in this case.

Zero competition, or a single manufacturer; leads to poor and selfish, "un"-innovative business practices. Shadow mining/extended "burn in testing" is one example. Essentially manufacturers kill the market they desire by mining. Lower the difficulty, the more profits, the more attractive their product.

It's a balance you rarely see or have seen in this area as these are just two extremes of the spectrum to provide relevance.

philipma1957

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Quote from: minefarmbuy on December 28, 2018, 11:59:12 AM

Lack of capital imo, monies were refunded. Hard to have a lengthy pre order when consumers know competitors will be coming out with gear and will certainly match or beat spec with earlier release dates.

Pre orders = high risk

Pre orders lose way more then they win.

Exceptions

Batch 1 s9 six week wait.

First batch of Avalon 1

Knc first asic in 2013

These all did well enough.

Two were new builders with new gear.

gentlemand

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Quote from: fanatic26_ on December 28, 2018, 01:51:20 PM

I still dont understand why people have this misguided idea that more manufacturers equals decentralization.....

Its like nobody knows what decentralization actually is....

Give us a run down of what you're thinking then.

It's clearly not in the original spirit of Bitcoin mining however it still has to be the least worst option with things as they are, and things as they are are extremely unlikely to change.

More manufacturers means potential different markets, different attitudes to mining with customer equipment and it drives more innovation and cost saving for possible customers.

fanatic26_

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Quote from: big_daddy on December 27, 2018, 07:57:32 AM

we need as much as possible, not as few manufacturers as possible, to maintain decentralization on a high level

I still dont understand why people have this misguided idea that more manufacturers equals decentralization.....

Its like nobody knows what decentralization actually is....

minefarmbuy

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Lack of capital imo, monies were refunded. Hard to have a lengthy pre order when consumers know competitors will be coming out with gear and will certainly match or beat spec with earlier release dates.

Steamtyme

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Q2 - pretty sure this was when they announced, they were going to come out of nowhere and produce the most efficient hardware out there.

Q3- let's assume they were sourcing materials because they sure weren't doing much of anything else.

Q4- let's sell the gear that people would have bought as it was still competitive.

Nah let's abandon the 2 hardware projects we've been planning before trying to recoup any of those losses.

Makes no sense really. Maybe they f'd up hard in the design and build, seems like to stupidest con, as I dont think they took any money upfront from miners either.

NotFuzzyWarm

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Heh heh, gee, color me not surprised.....
At best these folks were highly over-optimistic hucksters from day-1 shilling 7nm tech long long before it was anywhere close to being usable other than as engineering test samples. As a result all performance specs they came up with were pure speculation with zero basis in reality. At worst they were scammers who from the very beginning knew exactly how this would turn out.

big_daddy

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Quote from: frodocooper on December 27, 2018, 05:46:05 AM

It looks like we won't be seeing any more of the GMO B2 and B3.

According to CoinDesk, GMO announced on Tuesday, December 25, 2018 that they will "no longer develop, manufacture, and sell mining machines." GMO's cryptocurrency mining division apparently recorded losses of $3.2 million in Q2 2018 and $5.6 million in Q3 2018.

too bad...

we need as much as possible, not as few manufacturers as possible, to maintain decentralization on a high level

frodocooper

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It looks like we won't be seeing any more of the GMO B2 and B3.

According to CoinDesk, GMO announced on Tuesday, December 25, 2018 that they will "no longer develop, manufacture, and sell mining machines." GMO's cryptocurrency mining division apparently recorded losses of $3.2 million in Q2 2018 and $5.6 million in Q3 2018.

Steamtyme

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Quote from: philipma1957 on November 16, 2018, 11:34:45 PM

If that is true I could prove it if Japan gave me full authority to investigate it. But that is less likely then my 2 sidekick new pacs hitting back to back blocks. Grin

So you're telling me there's a chance. ~ Lloyd Christmas

It would be nice to see the inner mechanisms of these companies or at least a brief overview. Honestly I can't think of any other industry that has this sort of set up, granted there aren't any I can think of where you could potentially use the investor money to build a product then use it to ROI.

I just wonder who would possibly pre order their B3 considering the debacle this turned into... Oh wait didn't they start taking that preorder money to build the B3's before issuing the refunds.

Honestly it's starting to look more like a damn Ponzi the more I think about it.

minefarmbuy

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Quote from: philipma1957 on November 16, 2018, 11:34:45 PM

If that is true I could prove it if Japan gave me full authority to investigate it. But that is less likely then my 2 sidekick new pacs hitting back to back blocks. Grin

This made my day.

philipma1957

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Quote from: Steamtyme on November 16, 2018, 10:23:43 PM

That really shouldn't have mattered. That's the golden ticket for pre-order companies, the time between when you pay and they deliver. It's a get out of jail free card, all you have to do is deliver the equipment, even if it's sub par for what is being sold along side it when the time to ship comes due.

There is no economical benefit to not shipping out the miners and refunding customers if the gear was successful. Considering the pre-order was supposedly sold out, they would have been way ahead by delivering this product to market, then moving forward.

this is why preorders are death.

so they sold out say 1000 machines for 3000. or 3 million.

how does anyone know if :

they mined them for 4 months.
they only cost 1 million to make them
they earned 1 million profit which means they are all roi'd

and they refund the 3 million back,

their cost = 0
they have 1000 miners paid off.
they have a load leveler deal with a major japanese power company
they switch gear on and off to level the load and split the coins with the power company

If that is true I could prove it if Japan gave me full authority to investigate it. But that is less likely then my 2 sidekick new pacs hitting back to back blocks. Grin

Steamtyme

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Quote from: Biffa on November 14, 2018, 08:01:08 PM

Probably more like they saw the latest competitions products and decided they couldn't compete

That really shouldn't have mattered. That's the golden ticket for pre-order companies, the time between when you pay and they deliver. It's a get out of jail free card, all you have to do is deliver the equipment, even if it's sub par for what is being sold along side it when the time to ship comes due.

There is no economical benefit to not shipping out the miners and refunding customers if the gear was successful. Considering the pre-order was supposedly sold out, they would have been way ahead by delivering this product to market, then moving forward.

minefarmbuy

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Timing is everything, then there is price to market. GMO was doomed when they announced in what March-June ish? Way to long for a release. Even 60 days is too long now. Manufacturers will need to step up and deliver hardware that is the very best they can offer otherwise they'll get constantly trumped by the next release and so on, and so on.

mettalmag

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Quote from: Biffa on November 14, 2018, 08:01:08 PM

Probably more like they saw the latest competitions products and decided they couldn't compete

exactly

Bitmain is on the market for almost 6 years now and GMO thought they can compete with them? Bitmain just took over the chip factories and I'm pretty sure they planned it before GMO's official statement about 7nm chips and plus today's market

Topic: GMO miner B2: 7NM mining within reach? (Read 2767 times)