Topic: Obelisk tech to release Miner for Decred with the DCR1 (Read 3988 times)

heh...

obelisk needs a 'switch' to change algo's or allow their decred miner to just mine ONE of the decred coins as an option..or something...the decred miner is a 'brick'

I'm getting one FREE for 5 1/2 coupons from my 'dubious' siacoin miners purchase. Right now, if I had one in hand, I'd lose -40c a day if in hand now.

This is 2nd batch so likely other 4-6 weeks before arrival


 -0.02c per day! Amazing a NEW unit and FREE and it looks likely I would never make a profit on it over electric costs. By the time it arrives.

Well, it is prettier than just having the 5 coupons lay about I guess. Paperweight wise. But I mean 'really'!

At 1200gh and 14c kWh for data hall electric rates and rent and 500 watts...

Hour    0.000000    0.001386    0.000008    $0.05    $0.07    -$0.02
Day    0.000000    0.033256    0.000200    $1.28    $1.68    -$0.40
Week    0.000000    0.232794    0.001401    $8.93    $11.76    -$2.83
Month    0.000000    0.997688    0.006004    $38.28    $50.40    -$12.12
Year    0.000000    12.138542    0.073045    $465.77    $613.20    -$147.43


Anyway, an aside for those on here that 'only' got stuck with the siacoin version of obelisk machines..it could be worse...

brad

Any time Bitmain releases a miner the next week after an announcement of a supposed NEW product this is the case.

you are right searing, they have been mining on them for MONTHS

Well, my free, for coupons on other 5 siacoin obelisk units of (1) decred miner likely also will not ROI and it was FREE!

Bitmain (IMHO) has been probably mining these decred miners for months, thus the fact they are available for shipping this week

at 7.8TH and 1410 watts ...well, by the time I get my 'supposed' free obelisk decred unit above, even that will likely not make

more than electric.

here is the bitmain spec link and price $673 USD without PSU and shipping and any 'tariffs' in the USA. You also it seems to have to

fill out a KYC application with a preference for PASSPORTS....or a delay on other forms of KYC, or so the site said.

https://shop.bitmain.com/product/detail?pid=000201809211239039316aJFu5gm069B


I suspect again, these units have been mined for months previous to this, me and a buddy always wondered why bitmain was not

releasing a decred miner, well, better to run them at the depressed prices this spring/summer I'd guess.

Anyway, my 1.2th 500-watt decred miner and 14c kwh NOW if I had it would make 47c a day (no ROI issues it is was free for 5 obelisk

coupon swap for this (1) decred miner

One small catch, I don't think my batch 2 decred miners will be available for 4-6 weeks yet at best. The bitmain units ship this week.

Thus my view, they've been mining these units and thus they will hit the world in mass quantities of toaster variety lots.

So, even with a free unit, I'd be that I could not make money over electric at these decred prices with the mass of hash that is gonna

hit the decred world...would be nice to be wrong ..but I doubt it.

(according to what to mine site) https://whattomine.com/coins/152-dcr-blake-14r?utf8=%E2%9C%93&hr=1200&p=500&fee=0.0&cost=0.14&hcost=0.0&commit=Calculate

Hour    0.000000    0.002315    0.000013    $0.09    $0.07    $0.02
Day    0.000000    0.055556    0.000320    $2.15    $1.68    $0.47
Week    0.000000    0.388890    0.002240    $15.04    $11.76    $3.28
Month    0.000000    1.666673    0.009599    $64.45    $50.40    $14.05
Year    0.000000    20.277855    0.116793    $784.13    $613.20    $170.93


ugly, ugly, no hope for those who paid for these either

as to the $637 Bitmain unit with shipping and a PSU call it $775. On top of that, there may be 25% tariff to USA (unclear).

But say you got it, with PSU, for $775 complete. Says about a 90 day ROI, again if you had one in hand now at 14c kWh.

the hash from what to mine is below and a daily cost (because you can get it next week) of $9.32 per day...except for the fact

I think that Bitmain will dump so many like the D3 and B3 miners as to make it just possible you will ROI and then they are doorstops

we will see, but the prices are below if you had one now at 14c kWh (elec and data hall summer rates0 and 7.8TH and 1410 watts

Hour    0.000000    0.015044    0.000087    $0.59    $0.20    $0.39
Day    0.000000    0.361053    0.002094    $14.05    $4.74    $9.32
Week    0.000000    2.527373    0.014659    $98.37    $33.16    $65.21
Month    0.000000    10.831598    0.062823    $421.61    $142.13    $279.48
Year    0.000000    131.784437    0.764350    $5,129.55    $1,729.22    $3,400.33

Looks a LOT like the B3 fiasco, so I will likely pass, and I have a $100 Bitmain Coupon!

Don't forget the tariffs and new import fees in the USA if you get one ...that could add $200 plus to the price with shipping etc

Anyway, I should start a pool to see if my FREE decred miner for 5 obelisk sc 1/2 off coupons can make more than it uses in electric

in 4 to 6 weeks when it maybe arrives. (likely, I'd make better bucks on such betting pool than the free miner)

Ah, again, at worst to me it is a free doorstop (to go with my other 5 siacoin obelisk sc-1 doorstops in the box yet)

live an learn I guess, bound got get caught by someone in ASIC miner purchase land from 2013 till now, at least it was the

last ASIC's I'll likely ever get. I always knew I'd go one ASIC buy too far, this was it.

I am sorry for your loss those who had to purchase this doorstop of an obelisk decred miner vs my free one, I use my free

the analogy to point out how ugly this all is. It is not that it matters free or not, likely they won't be worth turning on for the electric use.

later

brad

all of the above is fine, but I can counter with this

1) I also am not getting any more miners...if I want to gamble I get LISK a pos coin for my trouble. IF crypto comes back in price

so will LISK IMHO, if I'm wrong and crypto does not come back we are all screwed anyway

2) It makes no sense to mine at an electric loss on any obelisk units be it siacoin or decred...if you are mining at a loss you

are paying MORE for electric than the miner is putting out. Thus better off just putting them in the box and if following your logic


At least you are paying out EVEN ...which means NO LESS than you would with electric on these units anyway....thus why mine

are going to stay in the box as doorstops.

4) on the other hand your point about the electric I would have put into these makes sense ..you could take that amount of $$$

and put it into decred or whatever...I may do that as a 'thought experiment' but will likely put the output into LISK instead. At

least it pays almost 1% a month back (or 0.009%) ....hey its something....but your logic holds, except for the fact if paying more

in electric than you are getting out of the units...pay the electric anyway, leave them in the box and as you said get the decred

you can that way....a bit more decred...and/or same result.

yeah, it really is that bad with these units...what is hilarious in my view is NONE of obelisk products the obelisk sc-1 for siacoin

or the obelisk decred miner will EVER make more than electric from their birth in  your data hall....a complete goose egg.

last year with my tax rate and 25% equip deduction that left me with these units as a (5 obelisk's the decred miner (1) was free

for coupons on above 5 1/2 obelisk sc-1 units..not that, that makes any difference in doorstop status) anyway, my risk after above

at 41% tax rate and the equip deduction was a 34% RISK...I thought 'surely' no matter how bad it all was I could mine 34% of the cost of

the units back to 'break even' at least after electric. Boy, i was beyond wrong, even a 'free' above decred miner likely won't be worth

turning on at this rate. (though we may have worse problems in as I look BTC has tanked to $6550 usd) ....

So hell, mine is staying in the boxes..though i may do your electric outlay example each month in the coin of my choice just to see

if that makes any diff ..in that was what I was gonna pay ..if they could float anyway....

we will be the first to know I guess...

brad

Yep Im waiting for my decred miner.  Stuff like this is very disappointing and this will be my last miner.  Strictly just buying coins/trade now.  

Lets talk about some future potential upside strategies.

 1) Hold every coin you mine, don't sell till decred hits $500 at least

2) your equipment is a deduction and your earnings which is not much can save you during taxes, pay less or none to IRS,  maybe even offset your trades profits if you mine in the negative.

3) Invest in solar panels so that way your hardware is never outdated.

4) others miners may capitulate and stop mining thus giving you more coins in hindsight in the next bull run.

Not a good position to be in but trying to make the best out of a bad situation

found a decred calculator and man is it ugly! The what to mine site below:

https://whattomine.com

er....found the calculator of what it would do today...yep doorstop as well it seems ..at my 14c kWh data hall rate with rent anyway...

looks like by end of Sept 2018 say, will be better off just staying in the box also. (for doorstop use, units staying in the box MINT, make

for ease of use (less friction) as doorstops...a helpful hint)

anyway what the what to mine calculator says I'd make TODAY if I had one at the 14c kWh rate at my data hall with rent for electric.

https://whattomine.com/coins/152-dcr-blake-14r?utf8=%E2%9C%93&hr=1200.0&p=500.0&fee=0.0&cost=0.14&hcost=0.0&commit=Calculate

8c a day...pretty much what the above obelisk sc-1 blake2b doorstops (siacoin) are making a day as well if I had those 5 units as well.

oh well, live and learn. Thus the total down after taxes and equip depreciation etc on above 5 obelisk units to get this free decred miner from 5 obelisk sc-1 siacoin miners, was still 1.11 BTC, again live an learn.

(I got this, free decred miner, again, for 5 unused 1/2 off obelisk sc-1 siacoin miner coupons..my original doorstops now, so you can follow

my logic on the decred miner here, again it seems by the below calcs also unlikely to be nothing more than a doorstop by end of Sept 2018.

below for those interested is the price at the USA average electric price (summer rates) of 12c kWh w/o rent at a data hall.

https://whattomine.com/coins/152-dcr-blake-14r?utf8=%E2%9C%93&hr=1200.0&p=500.0&fee=0.0&cost=0.12&hcost=0.0&commit=Calculate

yea! you make 9c per day at 12c kWh vs 8c per day at 14c kWh my data hall rates included. (FML)

anyway, that is the ugly on all this, thanks for listening..but man do we need a price pump on coin!

So to 'sum up' even my FREE decred miner (if/when it comes) by the time it comes in Sept 2018, will also be left mint in the box,

damn, the sia-tech people seem to be in full 100% doorstop mode on EVERY ASIC, they ever made. Gonna be damn hard, as

a result, to run their 'vaunted' siacoin decentralized storage network with those ASIC's after they blow out the GPU miners, if

NONE of the ASIC's can mine more than electric at these siacoin prices.

As to the decred miners, as an aside, they won't even get out of their cardboard boxes with the other bigger ASIC's already out.

well, at least I know I guess...doorstops...

later

brad

I was pretty good at this kinda pre-order thing...but then latter part of 2017..bitmain as a monopoly started to play games and kick them out like toasters..it messed up

my method...I likely (the siacoin miners) (in usd anyway) will make 40% on my siacoin miners (5) and this decred (1) after electric....if so it is break even, oranges to oranges

I also expect a decred miner by them within the next 2 months...


but yeah, crypto for miners...can't get that to fly anymore..in any rational manner...sell some stuff from the attic get 1 miner ..sure....but mine crypto to get miners

on pre-order with crypto...that boat has sailed I'm afraid...I can't find an angle anymore worth the risk since last fall or so...

new update.

https://medium.com/obelisk-blog/obelisk-update-january-may-2018-739229a930ec

Easy answer.  Just stop doing preorders.  Need to learn from history, it will usually end bad if you preorder something.  Less risk if product is in hand (although you will either pay more or the payouts will be less than originally thought.)  Either way preordering equipment months in advance that literally are useless in less than 12 months lately is too much....

pretty much said the same thing on the other thread (see link below) Although, KNC miner had their 1st chips out in 3 months from design/chip and unit..fudged up after that thou...

https://bitcointalksearch.org/topic/m.36716928

So their gamble on TSMC of a 1-year production...did NOT work out ..(maybe)

the last ASIC chip as you said we're missed 4 or more times (they kept screwing up at the wafer end)...So Obelisk must have gotten a pretty

good rate from them to try this again..and it still took 1 year! KNC Miner in 2014 had a chip designed/out/in machines in 3 months!

Anyway, it is probably 'moot' anyway, the network that the ASIC's are to work with, does not look near ready to me...with the Bitmain Sia-tech units

and the Decred miner, Bitmain will likely have out in the next 2 months....well...doorstops indeed

anyway, hope I'm wrong, but was my 'fear' as soon as they announced TSCM chips and a 1-year delay, to be sure, seems they ate up that year

already..

cluster

brad

This usually happens. Pretty much no different than 2012-2013 when I think it was Butterfly labs was taking preorders for their ASICs.

Same happened in 2014 with KnCMiner and their Neptune miners.

All were delivered very late and were pretty much door stops.

Latest Update from today:

https://medium.com/obelisk-blog/obelisk-update-january-may-2018-739229a930ec

I'd punt..it is not looking like you'd get your investment back....I have a buddy who used 4 of my 1/2 coupons on this ..also batch 2 I think....and for the coupons he covered
the last $800 for me (tried to talk him out of it)..so we have 1/2 off coupons and it is looking iffy...

by the by, I'd put some major money on Bitmain having a Decred miner out by August 30th when I think the 2nd batches are supposed to ship

so hell, we don't think we are going to ROI...at 1/2 off ...I'd punt myself....I could be lucky and wrong...but again ...beware of Bitmain, that is my bet on them doing a decred

miner and the usual, dump them out like 'toasters'

Myself, I'm getting ONE Obelisk Decred Miner for the coupons for free....so no harm at my end....but with the other considerations of folks NOT swapping coupons for equipment

not looking good (then again for those 5 coupons...1/2 off ...I have 5 dubious siacoin sc1 miners in the wind...so there is that little fly in the ointment!)

ie....run!

brad

ok I spent 2 hours at the bank today.....mostly just waiting to talk with a rep.  Turns out my wire was cancelled because of a wrong account number.   Must have been a typo in Obelisk's directions because my wire transfer is exactly what is on the directions.   I'm on the fence about this one.  Should I let it go or go ahead with the purchase?  Batch 2 cost was $1679.   I do have a dragon mint b29.   Im about 50% ROI at mining from 12 Apr ( 26 Days?)  When I spend money on crypto equipment I never spend more than I can lose and immediately write off the costs.   Thats whats causing why my indecision.  The more I think about it I should probably keep mining with my $10.5 K dragon and save that 1679 for my next asic........what would you do? 

Maybe SC wil hit 1$ over 10 years..then we are all good!

Yeah, I have a few of each coming in Batch 2. Wishful thinking? I hate to sell at the going rate among miners and I can't bring myself to knowingly weasel some noob on ebay, so I guess I'm left with overclocking and cheap KWHs.

I should do this...but they are MY doorstops damn it......(er wait ...that is the 5 obelisk sc-1 siacoin miners.....)

er...nevermind...I'm getting my ONE decred miner (August? 2018) 2nd batch? for FREE...or/er/well for 4 800 buck 1/2 off coupons...and the other $800 covered

(tried to talk my buddy out of it ..but he is a whale and got like 15 decred miners so WTF...no one listens to me...)

So, for once I may actually KNOW I can ROI on an ASIC unit of some kind! Just have to beat $1 over the electric cost!

(Dare to Dream!) ...er but than again...I have 5 obelisk doorstops...so meh!

People are selling batch 2 Obelisk miners for less than the new batch price (and you'll receive them sooner, too) on the Discord channel.

Not a scam, They had banking wire issues which is not surprising since most banks are anti crypto and will screw you over.  Just keep emailing/call them to sort it out.