Topic: History on Bitcointalk - Mining equipment scams, shams and failed deliveries. (Read 310 times)

LOL yeah. I felt bad that you got dragged into all that merit mess - you know I respect the help you give newbies on here. I can handle myself - at the time I even considered setting up a new account and start from scratch to prove I don't care about having a rank. (A copper account would have done it for me) But it was upsetting that you got dragged into it. The good part that came out of it is that I was challenged to look for what made bitcointalk so special and found many answers when I started documenting some of the historic event in chronological order.

This thread is really about the straight out rip offs that caused people to lose $.

So either didn't get their miners or got them so late that they were paperweights.

With the focus on Bitcoin ASICs

Those Cryptonight miners became a paperweight because of the algo change.

I might make a thread about mining equipment though.


Thank you for the compliment. There are also so many untold stories. The media is only really interested in "firsts", "hacks", "exploits" and "scandals". I'm very excited about some of the information from users that have contacted me. There are some really cool stories in the pipeline !
I agree that Ddmrddmr posts are great. I particularly like this tool https://fusiontables.google.com/DataSource?docid=1wM2Op6_ol8_0iP0sDEemIGr9weKvIeLPvKsKMpFy#chartnew:id=3

Playing around with that and looking at merit stats to try the tool on led to this: https://bitcointalksearch.org/topic/--4679939 (Cryptodevil made the biggest discovery but looking at the unusual merit activity and that the user had just changed their password and email address made me alert him in the first place)

@xtraelv   

AWESOME thread Bro  realy nice , would be give a Merit but i dosnt because dont know if we get in trouble or something else again LOL !

Mining was funny as there wasnt any ASIC long time ago for and you have to setup your Mining Software manual with all commands in the start.bat file for yourself !

Good old Days mining with GPU bitcoins !


Maybe you can add a few newer ASICS :

Baikal has some



And Bitmain with the Antrouter R1



and Antrouter R3

It is extremely gratifying to open the Meta Section and among many topics discussing merits, allegedly hacked accounts, and other meaningless discussions, be able to read a new topic from your or DdmrDdmr. Thank you for that.

The new "investomers" are heavily throwing their crypto at ICOs

I've thrown a bit of $ at cloud mining at Genesis Mining which didn't work out too bad (did it at the right time)

Generally I like buying near end of life Asics and getting the last bit of value out of them before they become uneconomical. No real ROI required because I can buy them for the cost of the PSU and not have the risk and worry of having them shipped or losing $ due to permanently delayed shipping. The mining margins are quite small. I learned from when I sold some miners and bought BTC with the proceeds. I made more gains from the BTC purchase than I would have if I used the miners for the next 2 years.

I do quite like the idea of mining and kept my foot into it most of the time.  Even if the miner functioned better as a bathroom heater than mining crypto.

In the early days having a few decent miners meant you could take over 51% of the network hashpower of a smallish alt coin.

I've often thought of picking up some museum pieces along the way. Oldest retired ASICs I have is a U3 and some Gblades.

My current favorites are the Innosilicon miners. Bitmain just has too much control.

You are right - each of them could have a thread dedicated to them. I do try to link as much as possible to the old threads that are "as it happened".

Thank you for the compliment. If I hadn't discovered the rich history on here I'd probably still be a once or twice a month poster.



I think you'll like this thread: https://bitcointalksearch.org/topic/avalon-asic-has-delivered-first-rig-68ghs-confirmed-2nd-out-proof-140099 It was the first avalon miner to be delivered to a customer.

No problems dude, I was never gonna do this so it's cool someone was willing to.  The history of the ASIC race was intense, at least for me.  I was dying to get into ASIC mining but for the life of me even being a newb I could not understand giving out an interest free loan to complete strangers on the internet without any kind of record.  I also couldn't figure out why they would sell me a machine for less than they could use it themselves for.

I actually coined a new phrase, investomer.  Which is someone who invests in the company but only has the benefits of being a customer of the company.  It was wildly unpopular back in the day, I took a ton of heat for being to "establishment" but whatever, I didn't get scammed but I was so close literally a click away once!

Black Arrow was another one I forgot to mention

The Original Avalon story and them being the first ones to produce a commercial ASIC miner was interesting.  I remember an article where the kid (yifuguo sp?) was sitting in a car with the first ever wafers of chips, I forget the percentage but it was a large percentage of the network hashrate literally sitting in his hands!

Hashfast was another intense one.

Jesus most of these deserve a post of their own LOL.

Thanks for doing these I love history and you're other threads were great as well bro!