Topic: ntek 1.2th/s miner? - page 8. (Read 27942 times)

First off, I usually do not respond to messages with foul language like yours. There really is no reason to speak like that. However, I want to make a few things clear; we are not taking down the shipping timeframe of 14-days because as of right now that is accurate. I will admit that we were originally over optimistic with our plans in January. We had some issues with the development of the PCB design as many others did with the A1 chips. Most of those issues were actually not our fault and related to third parties, but we are still responsible. For this reason we have given a refund to any customers that have asked. It is getting very old to hear people keep accusing of us being a scam when we have been working around the clock to design and produce one of the most advanced miners in existence in 2-1/2 months from start to finish. If we were a scam then we would have taken Bitcoin only as payment, like every other mining hardware company out there and then not give refunds. We are not holding any information back from customers and have been giving regular updates and like I said we have given several refunds to customers that were not comfortable with waiting.

For the customers that have waited, we are working on an option to help them get their ROI back. An announcement will be made over the next week with further details. We are really doing everything we can to deliver an amazing product and to not just be like other bitcoin mining companies. These miners are very complex though and we did hit delays but we are now past those and have moved into full production mode. Going forward now that we have a working Hashing Unit PCB design we do not expect any more delays. We have setup a pipeline with local vendors for manufacturing everything except the PCB's. For the Printed Circuit Boards we have moved production over to a PCB builder in China with a very good history of producing high quality mining boards based on Avalon and Bitfury. This has reduced the cost of the PCB production by 1/3 or more and will allow us to lower prices for upgrade modules and future sales.

Updated photos, videos and a full review by a "Hero Member" from Bitcointalk will follow soon...

Yes, we will be sending out updates and photos/videos today and tomorrow. Please be sure to check your email if you are a customer.

Any update or the timing of delivery ?

To bad you can't add extra board or get your ntek miners to run at 1.5-2.0 Th/s at least for the people that paid 8500$ pre order and are still waiting . I've allready been running 1.3 Th/s with antminers for 2 weeks and paid for my bitcoin when it was at 500$ .. It's all about the hashing power when you get it. The 1.2 th/s isn't going to do much good if you get it 3 weeks from now and need to make back 8500$ worth of bitcoin ... I would of Pre-ordered a ntek miner befor i got the antminers but you had allready missed your 14 day build time on a bunch of orders !! Why dont you take that bull shit down on your website!! You advertise a 14 day build time just to sucker people and thats fucked up !! Your pretty much a scam if you can't keep your word!! Misleading buyers is fucked up and I feel sorry for anyone that didnt get there money back befor the 30 days ran out ........

"Designed from scratch, Bitmine’s Coincraft A1 is a third generation Bitcoin Mining IC developed by Bitmine..." -from Bitmine's website http://bitmine.ch/?page_id=863

ALSO: http://bitmine.ch/?p=5178  "WARNING about counterfeit, scam or lower grade A1 ASICs from unauthorized distributors"

Wow..Strong as death..I guess ignorance in a situation is not good. Know your stuff is the message I get from this.

Who says the chips are stolen or cloned or counterfeit? Even Bitmine have withdrawn their veiled allegations regarding this matter from open debate.

Unfortunately it looks more like you have been misled by Giorgio, Bitmine don't own the IP on the chip, they paid for Insilicon's IP and ASIC. They have been stringing you all along for months, then ripped off most of their pre-pay miner customers by not delivering and promising a completely false CPP, and then in a last ditch effort to keep the money flowing in ripped off all their chip customers by charging 2-3X the cost they paid for the chips from Insilicon.

Apparently Bitmines PCB designs were so bad, that one of the Chinese companies had to show them how to make a PCB that worked.

You guys should be very careful about throwing around accusations until the legality of the situation is actually resolved, and trying to scare potential customers away from competitors by scaremongering guess work is just low.

There is a big difference between what Bitmine did when they bought Avalon chips and made cloned miners. Avalon is an open sourced chip. The A1 Coincraft is not an open source chip so any unauthorized versions of those chips are illegal. This means those people are purchasing stolen Intellectual Property. This is like purchasing a fake iPhone or even similar to purchasing bootlegged DVD's. In most countries it is illegal to sell and buy counterfeit products of any kind. This is all I was saying before. Regardless if the fake A1 chips work or not they are still stolen and not authorized by Bitmine who is the sole owner of the Intellectual Property for their chips.

To say that Bitmine started by selling cloned Avalon miners is comparable to others cloning and selling A1 chips is like saying someone who is selling Linux based computers is the same as someone selling counterfeit Microsoft Windows based computers. One is illegal and one is not based on the structure of the licensing for those products.

It makes a very big difference. If you purchase illegally sold unlicensed products then you are not only supporting the sale of stolen goods but you are also committing a crime by receiving stolen property. It may not be illegal in China but if you are receiving those items in the United States or most other countries then it is certainly a crime. All of these counterfeit A1 based miners on eBay for example are violating the rules of listing items on eBay and I am sure they will be removed very soon.

"The fact that they're now dropped to $2999 and that's cheap!" This proves that those miners are 100% using counterfeit "illegal" ASIC chips because 40 A1 chips cost about $3200 even at the bulk discount rate when you purchase 500 chips at around $43,000 from Bitmine's website. There is no other possibility. They are not original A1 chips. No way.

Even if they're cloned or stolen or whatever they are I'm not sure that really matters. The fact that they're now dropped to $2999 and that's cheap! The fact is that this market is moving so fast and cheap it's going to break a lot of people's wallets. I am happy for Ntek and their miner and I hope it mines away, but I truly think that the price is going to need reducing soon if they hope to sell many. The Chinese clones or whatever they are, are mining away as seen by many peoples posts here so I know they're real. Hopefully all of the current Ntek customers can get a good roi with these. I gotta say when they are actually shipped I will be surprised they pulled this off in a small time.

They didn't clone the chip. They bought them and built the cloned miners if I am not mistaken. Big difference.

Quite amusing really, being as coincraft got started by cloning a Chinese chip

Wishing you luck and a speedy shipping!

Solid update there.

Can't wait to see a support thread in the Custom Hardware section.

Here are some photos taken last week of the new updated nTek 10-chip A1 28nm ASIC Hashing Unit Board along with the Main Board and Power Backplane Board.

We are in the process of fabricating a large number of the Hashing Unit Boards for production.

The 1TH/s miner you posted a link to has been confirmed to be fake A1 Coincraft ASIC based miner produced illegally in China. They are being sold on the black market in China illegally and without Bitmine's permission: http://bitmine.ch/?p=5178

IF YOU PURCHASE THIS MINER THEN YOU ARE PURCHASING COUNTERFEIT HARDWARE AND IN MOST Countries that is considered illegal. Just trying to warn people because we have spent a lot of money on genuine A1 Coincraft chips that we purchased directly from Bitmine at the end of January and we know how much they cost. There is NO WAY that the ones being sold in China for around $4000/miner are legit.

There is no guarantee that those chips will perform to Bitmine's standards and they are definitely NOT real A1 ASIC chips. Check the price on Bitmine's website yourself for purchasing 500 chips. Their pricing is $43,750 for 500 chips which comes out to be $87.50/chip

How can people in China afford to sell 1TH/s Bitmine A1 Coincraft based miners with 40 chips per miner running between 25-30GH/s per chip for only $4,200? The 40 chips alone cost $3,500 (40*$87.50=$3,500)

This $3,500 bulk purchase cost of the 40 A1's from Bitmine does not include the cost of making PCB's, cases, PSU's, cooling, Raspberry Pi, etc...

The math does not add up so I would be VERY CAREFUL of buying those illegally produced A1 chips that are likely to not give good performance. I bought cheap Avalon Gen2 cloned ASIC chips in the past and those miners run very inconsistently.

Petaxminer.com looks like a scam since there is no 28nm ASIC chip technology on the market that can do 2.7TH/s right now.

From their "News"

News

21. February 2014
  - After long research and producing, we have opened orders to our first ASIC mining mashines. All series is ready!

Sorry, but i think you´re fucked. 

Steve, have you been checking your email???

I sent updates to everyone through email and also included photos of the progress. From the sounds of it you have not seen these emails for some reason. Right now we are very busy working hard to get the miners ready to ship as quickly as possible so email is the main form of communication for us to update customers.

I am ordered from petaxminer.com and also afraid that miners never comes. But we will see, I paid today. :/

IM VERY SORRY FOR ACTING LIKE A FOOL VERY VERY SORRY JUST WAS GETTING WORRIED THIS IS A SCAM and still not sure but I'm trying to keep faith and be patient but going on two months and no progress is stressing me out just like to be updated abit thats all but shouldn't have done that and i an sorry hope you prove me wrong cause i got more money to invest and thought RY was the man still hope he is I JUST WANT MY MINERS

The best course of action is to compensate buyers who bought in January and February.  On your website you said you will ship the machine 14 days after payments.

Well, it has been 50 days after payments were received by you.  The machine is worth half of what it used to be in January or February.