Quote from: nsummy on July 12, 2018, 03:54:45 AM

Quote from: Searing on July 06, 2018, 06:32:58 PM

Quote from: hanskan on July 06, 2018, 05:44:22 PM

boy i'm i glad that i didn't order any

You got that right! In my case I took a 33% hit after what I would have paid in IRS and State Taxes and the Equipment Deduction in 2017...Still sucks.

My only other 'comfort' is I likely would have HODL BTC anyway, so at a 'real' 1.11 BTC loss...it is kinda 'meh' at this point this year. (I have 5 in the wind)

IF they would have forked the coin 'away' from Bitmain, we MAY have had a shot at profit...but without that and current prices and in my view the unlikelyhood of

them having the 'vision' of the decentralized network to compete against Amazon Cloud available (you'd think you'd here something in the press if that was coming)

ie...doorstops indeed!

Below is the price as of this moment you would make on an Obelisk Sc-1 today. Using What to Mine Calculator at https://whattomine.com/ for those who

want to put in their own electrical rates (rather than my 'ugly' 14c kWh)

OK. So to move on, at what an Obelisk SC-1 is supposed to work at, 800gh and 500 watts at my HIGH 14c kWh, I get the following:

$2.91 a day. The electrical use is $1.68 per day. The profit per day (as of this moment) is $1.23 per day.

I also got the email below from Obelisk...saying how HARD they are working, usually you get such emails from ASIC folk, when it is unlikely to make the deadline on shipping. (July 15th,

2018).

The Obelisk Email received below.

Quote:

Delivery Update

Quick update on deliveries: we have made a lot of progress, and everything will be arriving at our manufacturers next week: bare PCBs to assemble into hashing boards, production ASICs, power supplies, fans, and more. We will start assembling units next week, and aim to start shipping to customers on the week of July 16. It will take about two weeks to build and ship all Batch 1 units.

We will have hashing boards with production chips assembled on Monday, and will be immediately testing for hashrate. We will update you as soon as we have hashrate figures. We will also send out a more complete long-form update at the end of next week.

Our main challenge right now is firmware, and our team is working diligently to complete and test the firmware. After shipping, we will continue to release firmware updates that should further improve unit performance.

Thank you so much for your support! Please let us know if you have any questions.

Best,

- Team Obelisk

Copyright © 2018 Obelisk, Inc. All rights reserved.

Unquote

Thus on (1) OBELISK at my ugly, high, 14c kWh electrical I would make $1.23 per day or $36.90 per month. This is 'hardly' encouraging IF they do not have the 'supposed'

decentralized network available from siacoin as their vision of storage, up and ready to go. Gonna be a lot of ASIC's (less the Bitmain units which are already too expensive to

run) driving up siacoin difficulty...thus, if price of siacoin is based on 1) scarcity and 2) the belief in the siacoin storage method....IMHO, the price is gonna take a big hit,

and we are gonna have a crap load of siacoin from these ASIC's with no other use on top of a complete price dump.

Of, course, if they are 'late' on shipping the Obelisk Units..say August 2018, it may not matter. They may never be profitable enough to run and simply stay in the box.

But I find in it interesting on how Sia-Tech has not been talking about 1) if their network is ready and 2) from the email, the likelihood of another delay on shipping.

Again, when your Obelisk's arrive, be sure to leave them 'unopened' in the cardboard box, they will work much better as 'doorstops' within the box, due to the slippery

nature of cardboard...

live and learn

brad

If it makes you feel better at 14 cents KWH you would be losing money with an S9.

I didn't order one of these but honestly what I think Obelisk should have done was simply cut their losses and refund everyone the money they hadn't spent. Obviously some went to development but if these things still aren't released yet its not like they spent it all.

No ..the reason to fork the coin made perfect sense, back when Bitmain made blake2b miners, the catch is what Sia-Tech made in Bitcoin at the height of prices in 2017, probably

allowed them to completely make all their investment back on the development of these miners and their production...with BTC left over. So their ass was covered, why worry about

those that bought into them needing the ASIC's for their decentralized network. IF it was all about the network, they would have simply forked. But again, I suspect they were

heavily invested in Siacoin 'despite' what they say about price not mattering...and got their ass covered by the BTC kept and held from these ASIC's. If this is 'not' the case,

the sensible thing was to 'fork' and use these new tokens with their own equipment for control of their own network. The only way that makes sense that they did not fork and

let Bitmain and others call the shots, as a result, their entire concept is tied to Siacoin and the current price, based on scarcity and their network vision working...and it looks

like the whole works is gonna come undone, when the ASIC's ship, again IMHO...but hey, they made their money on Siacoin and the BTC from the Obelisks and have enough

for their high paying jobs etc....there are lots of products like this...don't matter if they fail (every ICO ever made as an example) if all the 'risk' is at the front end, and the

actual idea or product does not work at the other end....a shift of risk as it was to others....anyway, what it is looking like to me anyway. Anyone who wants to prove to

me otherwise, I'd like an explanation on why they let Bitmain determine their fate and as you say 'why'we're not at least partially refunded...but that is not how

things work in crypto world.

Me, I'm down about 1.11 BTC total after equipment deductions and what I'd have paid in taxes in 2017 anyway, (41% with state tax and the additional 25% equipment deduction of gross

income on taxes to be paid)....so hell I would have probably held the BTC anyway, so down about 6.6K, If I'd have held ... or about $4,133.11 USD. The catch is my risk was 34% I (silly me)

thought, that I could probably at least

mine enough Siacoin to make some back, if I was wrong.

Also, I could ship these miners to someplace at 8.5c kWh, but on a 6 month pre-pay and 100 bucks a miner to setup ...would you? Give it a couple months of all those

ASIC's driving up the difficulty (assuming some can keep them up at 8.5c kWh prices or below) at best ..this is gonna be a 3-month miner spree before everyone shuts them off.

UNLESS

they actually do fork the coin or the actually do have the network ready to go on these ASIC machines and some kind of strategy...at this point .supposedly 1 week from

shipping and hearing no hype about how they are going to attack and give grief to Amazon's Cloud Storage for 10c on the $1, compared to them...I don't see it.

Also, they are NOT going to make the deadline for shipping ASIC's, we are going to be looking at the 1st week and beyond in August 2018 or worse

again, no issues..this boat has sunk.....ie....doorstops... (at least shipping is included)

by the by ...do we get a separate PSU or is the PSU in the device? I'm unclear on that...maybe I may get some PSU's out of this...but again, nothing said and from the

design, I assume they fudged on that as well and you have to use your own PSU.

oh well, in the great scheme of things and the pump and dump of BTC in 2017..it is not my major mistake of 2017...not even close!

brad