Topic: Obelisk tech to release Miner for Decred with the DCR1 - page 3. (Read 4053 times)

again, you very well may be correct...but if Siacoin folk...DO get their system to be used to drop down storage rates to 10% of Amazon in an anon and widespread cloud method..that
is where these machines will work..not on coin price...it has to have the function they want the coin and the asic's to be used for

also, I have heard the same story about this since 2013 for KNC Jupiter 550gh BTC mienrs (2013) KNC Titan 300mh Miners (2014) KNC Titan 400mh Liguidation/Bankruptcy sale miners (2016)
(now that was scary it was KNC we could have gotten a box of liguidation rocks in a box!)  and of course my bet on $6 buck LTC floor on April 1st 2017 and getting a mess of Bitmain products at the time (2017)

stuff I've got burnt on  BFL (2014) (one of the few who got a full refund just before SEC shut them down)
Alpha-Tech Scrypt Miner 30% down pre-order (also Amex refunded me thru luck)

both the above used PAYPAL for crying out loud...thus thought was protected.....er not really

so yeah, there is that silly risk thing..but all my crypto was made by mining and most was made by pre-orders...so unless you go bitmain all the way..these are the current
choices/risks

(I agree, I don't have a clue...how I proceed w/o having a clue....feeble rationalizations are my main way to cope in the crypto world)

you are correct ...it is a risk...probably too big a risk for most folk...I've done research and think? that they will come thru...If I am incorrect on my 1st batch units

I will be down as a complete loss on my $12,760.00 after deducting equip as a loss (theft/scam) would be about 25% for a total of $3,190.00 of which I can take up to 3k loss

each year...so from what I understand a 3k loss of gross income the following year...so yeah..maybe, after all, is said and done I'd be down 2k after all this...on the other hand

in the world of 'dubious' ASIC equipment sales..of any flavor....(bitmain ..not happening now for sure on March shipping), them's the breaks.

or I can just pay the tax man 50% (40% tax and 10% state tax) thus the gamble/justification/delusion (maybe?) of such purchases in my case

On a last note..was so ..desperate for equipment I got last year a 5K loaded Alienware Laptop as computer equip deduction like a miner for AHEM ...business use

for my home self-employed miner operation...(cough! business) ..and I got the expansion chassis for adding a regular GPU graphics card for it also for (cough!) GPU

mining...(not gaming .really) (cough!) on the justification I use for miners.....after all, was said and done my AHEM business computer cost me 25% of what would

have moved out to the tax man anyway (truthfully it really will be used mostly as a business computer..but AHEM a few games may be on it)

yep.....that is where I'm at with taxman and my silly risks...you very well could be right!

The thing with ASICs is that you don't get it now. You will get it when the difficulty has risen so much that you make $30 for 1500W of paper consumed. They will have so many of these mining for themselves until difficulty rises to a crazy level then they start shipping. Now you know Why there is always delays with Asic its about not shipping them out until they become close to unprofitable.

How can anyone consider preordering these miners without seeing any proof of existence or internal design of the miners ? It's amazing how many people throw money at things like these. And the way the company changes the specs of the miners , saying they multiplied the final hashrate x2 or x5, as if it was an easy thing to do.

There is a single image on their website with a 3d render of black box, which to me, means nothing. They launched the preorder for a second batch before people even remotely received the first one. To me it's another company which has nothing to offer with scammy and shady practices.

I'm conflicted...

on the one hand, I have FIVE $800 buck 1/2 off coupons I could get units with

then

on the other hand I would be buying a 2nd batch pre-order of vaporware miners w/o getting the 1st batch

yeah, nothing DANGEROUS about this ...right......

So assuming, I man up and get 5 more units.....or 6 more units (adding only a $400 buck coupon on that go around...they use on the site I was told

the most expensive coupon's first...thus the $800 buck bonus coupon, for the 1st 5 units..then if I got a 6th unit the $400 buck coupon for getting a

unit the 1st week...then the last 4 units would be the last of the coupons at $250 each...not going that far..but what I was told of the process. FYI)

Again, assuming I get 6 more units at 1/2 price for the 1st 5 and $400 bucks of the 6th one for a total of 6 units at $5,200.00 usd before shipping.

WHAT UNITS SHOULD A PERSON GET......

1) Decred Miners (remember I have 5 obelisk sc1's from the 1st batch run)

or

2) MORE Obelisk SC-1 Miners


So I get a mixture, what would be the split 100% decred because I've 1st batch Obelisk's Siacoin miners in that batch?

or

50/50 Decred and Siacoin units?

What are folk doing for a mixture on this as the best option?

Thanks, anyway the above was how I was told coupons work, point out any mistakes....but damn....I badly need the equip write-offs

brad

p.s. note to newbies in the USA..if you buy a unit with hard-earned $$$ you can get 25% off equip deduction in real $$ applied towards taxes owed on mining in a year. Assuming
you are in 25% income bracket. So that means you can take the 5 years equip depreciation all the first year or 100% equipment can be taken off your gross income.

ME. on the other hand..I am in a 50% tax range (40% plus 10% state income tax) ....if I take those $$$ and rather then pay the Tax Man and add the 25% off equipment
deduction off taxes I know I will pay in $$$ otherwise.....my risk above paying the tax man is 25% in real money...more so in that my current miners have ROI'd

thus newbies should be cautious with my advice..both for vaporware unit reasons maybe...and in real $$$ my risk is much less at 25% vs 75% cash down on this kinda thing

but again, I'm at the 50% tax level on mining income...but that is why it may be a lot more attractive to me for equipment than anybody else...especially newbie wise

also IF it is all vaporware...I can still write it off as theft/loss and only down 25% for the risk...again the tax man will get 50% for sure, and the nice 25% equip deduction

makes it tempting as hell at my 50% tax rate to be perhaps "stupid" (damn the 2013 kool-aid is like Malaria....can come back in Newbie dumb purchases at any time....

with the same strengh of 2013 Kool-Aid years later! Ack!)


anyway, just a clarification on my views on how sketchy this may be...on the consideration of doubling down and getting batch 2 stuff when batch 1 stuff is still in the wind!

Nice Maybe I will get a decred unit

catch is the coupon is locked to my account from what I can tell ..so you'd have to trust me to order you one..not sure that makes a person comfortable

not sure what I'm gonna do yet

according to obelisk reply via email

I have 5 obelisks

I get 5 800 buck coupons first

IF I got 5 more units

I'd get 400 bucks  for my 1st week ordered unit

and 250 bucks for a remaining 4 units

IF I got as many as 10 to use all the coupons

they were more unclear on IF you have 2 units or more per order number

either it would work as above

or go

800 on 1st unit and 400 on the second unit

that would suck...but ..again why be unclear unless that may be the case

catch is to find out you have to FLAG the coupon and once you do that it is locked in

may not matter I have only 1 2 order like this and I find it unlikely I would get the other 3 units anyway

anyway we have till the 31st of Jan to decide on this stuff

when I asked about order of shipping on the orig batches ..they said don't worry all units will ship out at the same time

thus if like me you got over 5 over 2 months they all will dump at once not trickle out

anyway, not sure about getting 2nd order even at 1/2 off of 2nd batch of miners with the 1st batch still vaporware...seems silly

but DAMN, I badly need the equip deduction at a 50% income tax rate (with 10% state tax added that makes it so)

but between these units and DUBIOUS bitmain units in march/april (as they drive up difficulty and mine till then)

looking IFFY

I'm seriously looking at a kick ass big ass do all printer and a decent Xerox machine just for the equip write offs

I already last year got a 5K alienware laptop for the biz (cough!) w/the expansion box for a graphics card (hey, its a gpu miner) (cough!)

just because if I did not 50% would go to IRS and the 25% (1st year all) equip deduction I can get off taxes owed last year 2017 in REAL $$ towards 2017 taxes anyway I'd owe

thus in my feeble mind, the above toy (er I mean legit equip for mining) cost me 25% of retail (cough!) delusion I'm sure but sure makes me happy

but damn, do I really have to buy a Xerox machine....

I wonder if the 2018 tax bill for the rich loosened up some more equip I can buy for the biz besides computer equip/software and miners?

unlikely....

later

brad

would you sell a coupon?  recoup some lost opportunity-cost, eh?

yep one of those people...but my whole year was paying off mining equip with btc before it went compeltly nuts...then again...now that it is the end of the year...I needed every damn equip write off I could get...and STILL gonna owe IRS (maybe....if self-employed miner you can do solo 401k for yourself off miner income look into it) acts like equip 100% in solo 401k comes off
of gross income ..just like miner equipment

so in 20/20 hindsight...every dubious damn btc I spent last year with the price pump from 4.15 ltc to 250 buck LTC WAS BADLY NEEDED

thus.....obelisk being a mistake or not....I JUST am gonna squeak by and maybe pay 1 months mining to the IRS and state taxes ..rather then 6 months w/o the equip

and to tell the truth...the hoard would have been pretty much the same either way equip gotten or just mining previous

but yeah, the days of 12-14 semi-legit you get the equip asic flavor of your choice in 2 months and legit are gone....either crypto is gonna shoot up soooooo fast
that 2-3 month delays getting equip (remember bitmain on the 4.15 to 50 buck ltc pump took all the equip back ...i did a 6 week loan to them for a july firmware fix
and the machines showed up with jan 2017 firmware)

alas, crypto for equip used to work up till about maybe July of 2017....but again if crypto shoots up so fast it makes no sense...on the other hand ..if crypto dumps
sooooo fast it dont' make sense either and with bitmain at 90% of the equip of all flavors x11/scrypt-pow/sha-256...well I'm tossing in the towel

we will see around june of 2018

but may get another obelisk or two anyway with fiat/cash (no crypto) i have 50% off coupons so may get some for basement toys

other then toys thou....be careful is my advice ...I'm gonna cool my jets till again perhaps July 2018 or so for any serious data hall moves again (if ever)

Does anybody knows if these obelisk miners can be put in a common apartment, without making much noise or disturbing the neighbors ?
Thanks

wait for a long time, i choose SIA mining

He said in some other topic that he did some consulting for them and that's about it.

Imagine how dumb the people who pre-ordered these feel when they see how high bitcoin has shot up.  Its concievable that by the time these are released, they will have paid double or triple the actual cost when you calculate opportunity cost.

Just reading through Obelisk's website and they mine on 20% of the hardware they produce ASICs for i.e they will mine against you and I can bet they will pre-mine prior to the June 30, 2018 ship dated.

Pretty sure they'll use these funds to make the first 20% that they will mine with and then ship out the remaining stuff.
Typical garbage company.


PS those SC1 orders have been open since July or August? No one is going to buy this crap. Keep waiting till you hit 4000, Obelisk.

You forget that if the profit is large, it will affect the price, that is, the miners will sell and fix profits.

haha u fudding all mining machine threads boy? u are mad about bitmain...also at obelisk? wtf get a live!

Even with a 100% difficulty increase it will be amazing profitable...even with 200% increase...i dont see the diff increase by 500%...
Could u explain why 5-6$? Would like to understand..

Profit will be 5 or 6 usd per day at june2018

And we have a competitioner

 https://dcrasic.org/

The delivery is June 2018. So we can continue mining with GPU.