Topic: Spondoolies done? - page 2. (Read 2999 times)

I wonder what happened with their 110TH/s units. The SP50.

Maybe by the time they sold them, they had devalued too much because their production time could not keep up with our Chinese friends?

It's shame, they were one of best mining hardware companies.

He likely will do like last thread and never come back after being asked for proof.  He made a big deal saying S7 burn down houses! But I have not seen a single report on forum of it with S7.

I almost feel like hes a troll at this point.  The fact is bitmain was able to keep putting out products.  People wanted the S5 at lower price per hash then a SP20 with a shinny nice metal case.  People spoke with their money.   And he mixes S5 and S7 into one... I see them as very different products.  And SP had nothing to even compete with S7, so hard to fight for their design when they really were no longer part of the equation.

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

I'm not saying the SP20 was not a nice miner, I did like it.  But the all metal design and cost of making SP claimed to sell it at loss at end when trying to compete with bitmain on price.   So the "elegant piece of hardware" people did not care a much for a getting most hash for their money.  People went with the lower cost solution the S5.

I think designing out deigned them by offering a lower price solution with S5.  You could consider it out producing them vs out deigning them.  Either way though Bitmain won and SP lost.



You talk so bad on miners and seem to make up things to.  I'm still waiting on you to backup claims of:


Where are stories of S7's burning down houses?

Bitmain suxed all the way to the bank 

"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.

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. 

power costs killed them more then anything else
 they never could self mine to off set costs

Well, that sucks. They were about the only ones with respectable customer service.

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.

RIP Spondoolies Tech.

Absolutely no surprise here.  The deal with BTCS was not a good for them, but they got in way to deep.

(Received the same email)

I didn't catch the article.  Thanks.  Looks like we will have to keep our eyes out for the liquidation of any miners that are left? 

Looks like it,

http://www.financemagnates.com/cryptocurrency/news/bitcoin-mining-equipment-producer-spondoolies-dissolved-court/

I guess Bitmain and Bitfury were too much for them to compete with in the end.

got this email today:



To our valued customers ,

As of May 4, 2016 Spondoolies-tech has ceased operations.

It has been a great privilege to serve the Bitcoin mining community and especially our customers. We deeply appreciate the support and faith that you have placed in us and wish you success in your future endeavors.

Sincerely,

Guy Corem CEO
Spondoolies-tech