What a crap article, so much typos. Anyways, i guess this just prove competing with China's cheap labor, parts and manufacture is a hard thing to do.
power costs killed them more then anything else
they never could self mine to off set costs
It was also the machines to though. Compare the SP20 and S5 that went head to head. SP20 was metal all the way around they really did not keep material cost down. Then look at S5 they managed to use 2 slabs of plastic and keep cost's down.
So there really was a big difference on materials. Bitmain just out
designed them on a miner to sell to masses. And SP claimed they lost money trying to compete on price with S5 (we cannot be sure if true).
But I do agree on power to if they would have self mined at less power costs... they might have been able to stay around much longer.
"Bitmain just out designed them"
Really???
You mean, Bitmain beat them by cutting corners and lowering the price. Design-wise Spondoolies SP20 was miles ahead of Bitmain S5. SP20 is an elegant piece of hardware, S5 is a junk in comparison. Bitmain just does NOT know how to DESIGN anything, they know how to CUT CORNERS for more PROFIT. Bitmain Sux.
I'm just so appalled by these pro-Bitmain people on the forum, do they get paid by Bitmain? If not, they must be smoking something.
Did I tell you how crappy Bitmain S5/S7 miners are? They sux.
To say that Bitmain's miners are subpar is fair, you can't for a second deny the fact that building things cheap and en masse is China in a nutshell. You've failed to consider the fact that in terms of price/reliability/efficiency they are fantastic (not perfect). You're arguing that "Spondoolie makes far superior miners" yet here they are, out of business, almost certainly due to refusing to "cut corners" as you put it.
Guess what, when your competition comes out with a cheaper, mass produced product and drives you out of business; THAT IS THE DEFINITION OF CAPITALISM! Just look at the f**king Iphone! A cheap, poorly made imitation product mass produced by nearly slave labor that holds a huge chunk of the market FOR THOSE PRECISE REASONS!
I have two family members who scoff anytime Bitcoin is mentioned because "China owns 70% of Bitcoin".
THIS FACT MAKES PERFECT SENSE!
China has 1bn people and some of the most restrictive currency controls. Of course they're adopting Bitcoin. They have one of if not the best mass-production capability for consumer products especially electronics. Of course they're mass-manufacturing miners.
Don't hate China for doing what they do best, don't even hate the USA or EU for NOT being the manufacturers, your livable wages and quality of life are the price you pay for your country not being able to compete with them. Whether that's good or bad is a pointless debate.
In any case I'm agreeing with notlist3d, you have made accusations regarding s7's causing house fires which is absolute nonsense. I have (through months of research preparing for my mining rig) come across ZERO incidents regarding a miner fire. I have found a couple incidents regarding electrical fires where miners happened to be the devices pulling the power when the electrical failed, most likely due to poor design or cutting corners. If you have a REAL incident regarding a MINER and NOT THE ELECTRICAL SERVICE causing a fire I would love to review that information. Not that it makes much of a difference because I built a fire-resistant enclosure for my mine because it made all the sense to do so.
tl;dr talks_cheep continues to be a hater with nothing to back it up
Not to back up talks cheep. but this was just posted int he bitmain thread..
https://bitcointalksearch.org/topic/m.14821437 also its not uncommon the s5 went total nuclear meltdown.. And i was the first to report the psu burning up in the s4.. So to be naive of bitmain track record falls on you.. Noone else. i find it also naive to blame that one on the user since it was load balanced.
There are safer ways to put power to these rigs.. We all know from running these over long periods of time the pcie get "loose" Bitmain knows it been a problem since s1 days. Do we really think they care if they burn down our house?. They had to know that sending out a psu rated at 1400 watts at 240 volts wouldnt work worth a fuck at 120 volts for the s4's. Of course the amount they gained in mined bitcoins from all the hw down time, im sure far exceeded the amount they had to spend sending out new psu. Now we have the issue with the pic controllers magically failing on the s7. Id say there is a pattern there.
BEst Regards
d57heinz
