Innosilicon -

I woke up this morning and found this -




I have 2 D9's - both are updated with the most recent firmware. As of lastnight - both are now operating at less than 1 Ghs. I've reset them, but no luck. What's going on?

For D9 owners who have not yet upgraded their firmware - consider this first.

The updated firmware does have a few bugfixes (auto tuning, rebranding, etc).

Notably your D9 will float between 2.35 and 2.55 Ghs - but understand that this increase in performance is essentially due to overclocking, and as such - Your power consumption will go from the advertised 900 watts to 1000+ watts. This will generate 3-8 degrees (c) of additional heat that you will want to compensate for. If you're already running them in a warm environment, you could now be teetering on the operational shutoff temperature.

Just consider it before you update.

 

Just accept the fact that the network, as measured by profitability and your ROI, is ruined.

It's math, not magic. Within 30 days, the network difficulty is 244% higher. The Network Hashrate is roughly 400% higher.

You can extract those numbers using prediction models to estimate where you're ROI in an additional 30 days, 60 days etc... until it's fully saturated.



People are in love with the "idea" of mining. The problem is that you're playing an inherently unfair game. You're putting 100% of your trust in a Chinese company that's making these machines, running them to rake in massive profits (without any real competition) and then knowingly dumping them on the naive consumer once they've calculated their worth to be below the return they would have by operating them. The D9 miner is probably less than $800 to produce. They sell them at $6800, an 750% markup - because the customer "thinks" they will get their ROI.

You will never get your ROI on a mining machine unless you're in 1 of 2 buckets.

1- You own a manufacturing company who can house, operate and develop your own miners with minimal cost.
2- You have a secret relationship with "underground" miners who are running operations that the general public doesn't know about.

If you made machines that printed money... you'd keep them - unless the money was worthless (and you knew that) or inflation was so high (network difficulty / hashrate) that it would be less profitable to print it than it would to sell them.

I say this as someone who loves mining. I love the technology, the operation, and the principle behind Crypto. However, as a business man and investor who owns several mining rigs with a large investment, I would STRONGLY caution anyone from investing money into any form of mining equipment unless you're totally okay with never seeing that money again.

Contacted DHL directly and spoke to the logistics manager. He provided me with receipts of "phantom waybills". He stated that the company (Innosilicon) has not provided the packages for shipment.

He said "If we had them, we would ship them - that's what we do". He then reiterated that they have not been provided any goods/packages to ship.

So @Inno_ASIC - You're telling your customers that DHL takes time to input the goods into their system? DHL is saying that they've received the electronic waybills 5 days ago. Are we to believe that DHL, an international logistics firm, is purposefully holding our miners and lying to us?  

May 4th update -

• Order ID: D9INNO2018042417
• Paid in BTC within 30 minutes on April 23rd.
• Payment confirmed on April 28th.
• May 2nd received the following: "It's still waiting to be shipped"
• May 4th received notification from Innosilicon with a DHL Tracking number

About the DHL Tracking number -



The electronic waybill was created on April 30th at 10:27am. It wasn't sent to me until May 4th.

I called DHL this morning who told me:

DHL - "Innosilicon has not given us the package to ship. They created the waybill, but never actually shipped it"
- I asked if this was common
DHL - "With this company, we are seeing it a lot. It's likely that they have a back-order, or don't have any actual product to ship"
- I asked why they would do this
DHL - "Some companies want their customer to think that they're making progress on their shipment, so they create a "phantom" waybill but never ship the product".
- I asked what the next steps were
DHL - "From DHL's perspective, we can't do anything until the company gives us the product to ship. You will see your shipping updates as they happen once the package is in our hands. As for the company - They may, or may not ever ship your product."

There's over 2000 people who have read this thread. All of those were potential customers. I genuinely hope that Innosilicon is reading these forums and fully understands that their customers, who paid in full, are frustrated. I can't speak for everyone who's expressed their frustration with the process, but I feel like we're all tired of hearing "be patient".

Innosilicon set the following expectations:

• Payment confirmation within 2-3 days for BTC or LTC, up to 5 days for Bank Wire.
• Shipping April 27th

Your customers have lost their time, their ROI, and as of right now... their money. What are you going to do to make this up to your customers?

Same here. Purchased 2 D9's. Paid over $15,000k USD. Inno has confirmed that they have my payment but still has not sent the miners. No tracking number.

Profitability has gone down rapidly since ordering.

@inno_asic why are you unable to provide a tracking number or ship the units? You've had my money for weeks now. I'm being told "be patient" - the unit was advertised to ship on April 27th and it's now May 4th. Your customers are frustrated and we are losing money that we could have had in the market.

@Inno_ASIC can you please give an update on this order's status? I pre-ordered and paid in full. I received your payment confirmation, but I have not received any updates about shipping /tracking number.

Let us know how it goes..

• Order ID: D9INNO2018042417
• Paid in BTC within 30 minutes on April 23rd.
• Payment confirmed on April 28th.
• May 2nd received the following: "It's still waiting to be shipped"

So far, 10 days since making payment and still don't have a tracking number.

Did you receive anything from Inno about your shipping or did you go from payment confirmation to receiving an email from DHL?

You sound like the lucky few - most of us who have paid have zero updates about shipping.

Stupid question -

For those of you using Luxor - does it only pay out in the original coin?

For example - If i use a Coinbase Wallet, but want to mine on Luxor - it won't convert Lbry, Sia or Decred into BTC.

Would you need a Decred Wallet to use Luxor?

Paid April 23rd - received confirmation April 28th. No shipping confirmation.

Sent email - didn't get any response. Frustrating.

Have you been able to see your actual ETA?

Paid on April 23rd - still no shipping label.

But I guess it's good to hear that they're starting to roll out.

Here's some proof that they're all up and running in China.



On the 27th and 28th the network difficulty basically doubled.

The value of the coin has gone up, but if every batch ramps up this quickly - you can expect to see ROI get halved ... and then halved again.

If you were following profitability on a daily scale, you likely noticed that it went from about $200 per day to about $150 today. By the time they reach consumers, it'll likely be closer to $100 per day (if not lower).

The same holds true for SIA.

As for the May holiday - that's Tuesday of this upcoming week. It's essentially Chinese Labour day. If they're true to their word - they would ship between now and Monday. Something tells me that we might see some further delays.

After 5 or 6 days, I did receive payment confirmation lastnight around 1am EST.

However, just like everyone else - no tracking number.

This is from Inno's website -

"All D9 DecredMaster will be tested by factory before shipment and certified by Innosilicon. The post-sales service policy is as follows. After payment, your order will be processed immediately."

Payment processing is "2-3 days for LTC or BTC" or up to 5 days for USD wire. Sometimes the bank wire doesn't reach it's destination for 5-7 days. If you see the USD has been taken from your account, it doesn't mean Inno is in receipt of it - it simply means that your banking institution has proceeded with the international wire transfer. From the point it exits your account it generally takes about 5-6 days from the USA to China (can be faster or slower). At that point, someone from Inno would need to actually retrieve the wire transfer.

I'm sure they'll be "tested" before shipment (if they ship).

I haven't seen any confirmation of units being shipped from Inno. There's several of us who pre-ordered who have not received any tracking number.

The Halong ones you mentioned were a super small batch that was sent out a few weeks ago - and then went "unavailable" until Inno announced the D9 and Sia miners.

Keep in mind - They said 2-3 day payment confirmation and shipping on April 27th. It's now April 28th in China and no one's received a tracking number. The miners are sold out, but if you pre-ordered and paid; shouldn't you have your tracking number in hand now?

Not to my knowledge, no.

Order ID: D9INNO2018042417

Update for day #4 - Payment still "not confirmed" no shipping or tracking number. Order placed and paid in full on April 23rd at 3:00pm. Innosilicon emailed me that the process takes 2 days to confirm: "The BTC/LTC verification can be quick, the financial department needs to get the newest book of the payment every two days, that is why they take time."

Reached out to Innosilicon last night who told me:

"If we keep replying to the email to you we cannot do the payment check at the same time, thanks!"

I've reached out to several people who said they're in the same situation. This thread has been viewed almost 1,200 times, so hopefully Innosilicon understands that their customers are watching to see what happens with this batch. If they are able to send out those tracking numbers today - it would go a long way for instilling customers trust in their company.

Thank you. I'm a pretty fair and reasonable guy.

I'm going to continue posting updates (unbiased ones) that show their level of accountability. If they confirm payment and send me a tracking number tomorrow - I'll update this thread and give them a positive review for following through with their word. I'll also post a review of the miner and entire experience.

However - they should be held to their own expectations.

• "BTC or LTC payment confirmed in 2-3 days"
• "We will ship on April 27th-30th"

They also charged a 15-20% fee for using LTC or BTC due to "market fluctuations". If you've noticed the BTC cost have jumped from about 0.82 to 1.02 at times ($7,300 USD to $9,180 USD for the same unit; a delta of $1,800 depending on the time of day you make your purchase). They added a disclaimer stating that they prefer you to pay the $6,800 in USD via bank wire for stability.

Order ID: D9INNO2018042417

This is one of the confirmations that shows the $15,000+ purchase sitting in Innosilicon's account.


As of 4/26 at 4:25pm EST - I have no payment confirmation or shipping date / tracking number.

Once I'm provided a tracking number - I'll be happy to provide a positive review of the D9 Decred Master upon receipt. Until then - I would STRONGLY caution you from purchasing.

Innosilicon can easily fix this situation by providing this information and shipping these two units.

Update - Reached out to Innosilicon. They still say they can't confirm payment.

Payment submitted on the morning of the 23rd. They told me it would take 2-3 days to confirm payment. I have supplied 4 confirmations of confirmed payment to their wallet with 322 network confirmations that they are holding the BTC. Asked for an update on shipping date - they have not answered as they say they can't confirm the payment that blockcypher shows in their account. It's about $15,000.

As of today their website says "Next Batch Coming Soon!"

As of right now, they have $15,000 of my USD (1.7~BTC) for a week with no updates and according to their website - no product to ship.

Innosilicon representative on the board asked me to PM them - but their permission to be PM'd was turned off. They have not contacted me directly.

Will provide updates as I get them.