Original author: Pete Rizzo
Coin News
Original author: Nermin Hajdarbegovic
Mobile Exchange availability and features
The upgraded app now includes some more familiar smartphone and tablet gestures such as ‘swipe to edit’ and ‘swipe to cancel’, plus other features that allow traders to respond quickly to price movements with minimal navigation. Furthermore, Mobile Exchange 2.0 is available in 10 languages.
Aimed more at traders, it is a separate entity to the ‘Picasso’ app, which BTC China calls its ‘wallet and mobile ATM’. Picasso allows everyday users to track prices and set their own commissions to trade bitcoin face to face.
Litecoin trading and value
BTC China introduced litecoin trading in March this year. The world’s second-most-popular cryptocurrency, which was the invention of CEO Bobby Lee’s brother Charles, is now traded on several exchanges, but has suffered a price slump lately.
Once tied closely to the price fortunes of bitcoin, litecoin has gone from a high of around $48 at the same time bitcoin reached its zenith in late 2013 to around $7.47 on both BTC China and BTC-e today.
The altcoin’s supporters say litecoin’s peaks and troughs are merely a normal part of a cryptocurrency’s lifecycle, and point out that its fortunes are still connected to bitcoin’s. Charles Lee himself has described litecoin as being “still in the speculator stage” of its development.
About BTC China
BTC China, which claims to be the world’s oldest bitcoin exchange, also recently added USD and HKD deposits and withdrawals to its platform as part of its “plans for aggressive international expansion”. At the time of bitcoin’s December peak, it was China’s most popular exchange.
At present, the majority of BTC China’s users are still located in Beijing and Shanghai, although the company said they expect the number of users from other regions to increase significantly soon.
Founded in 2011, the company raised $5m in Series A funding from Lightspeed China partners in September 2013.
Screenshots courtesy BTC China
Chinamobile
Original author: Jon Southurst
Following Apple’s controversial removal of iOS bitcoin apps in January, the first of the big-name wallets relaunches on the App Store today.
Blockchain, which already provides hugely popular wallets for both desktop computers and Android devices, has unveiled its new-from-the-ground-up iOS wallet, which it hopes will bring bitcoin to users across the globe.
Prior to Apple’s removal of all apps offering cryptocurrency transactions in January 2014, Blockchain was the most downloaded bitcoin wallet for iOS devices.
Controversial ban
Blockchain’s announcement will likely come as welcome news for the bitcoin community, which protested loudly at Apple’s ban – with some users even shooting their iPhones in an unlikely show of support.
However, for reasons known only to Apple insiders, a new, more open policy was announced at the Worldwide Developer’s Conference in early June, paving the way once more for bitcoin wallets and other apps that transact using cryptocurrencies.
In the weeks since then, the App Store has seen the addition of several bitcoin apps, including an unofficial wallet for Coinbase users and Gliph, a messaging service that lets connected users send each other bitcoin. However, Blockchain is the first of the major players to offer wallet services on iOS since early 2014.
Nicolas Cary, CEO of Blockchain, told CoinDesk:
“The moment Apple signalled a shift in their policy toward digital currency apps, we pulled the iOS project off the shelf and got to work. We wanted to use this as an opportunity to improve the wallet, but we were still apprehensive about dedicating huge amounts of engineering time because it wasn’t clear what types of apps would get through the submission and approval process.”
He added: “Working with Apple has been quick and easy, and we really appreciate their thoughtful guidance – it’s a partnership we really value.”
The new app
As well as exchanging bitcoin between wallets, Blockchain’s app also allows iPhone and iPad users to make purchases from the fast-growing number of merchants that accept bitcoin – both online and in physical outlets.
That list has this year expanded to include major retailers such as Overstock, DISH, Expedia and, most recently, Dell (for more, see our guide to bitcoin-accepting merchants).
Cary said that Blockchain has rebuilt its wallet app from scratch to improve security, enhance performance, and introduce a new user experience. He explained:
“The app strikes a strong balance between functionality and security. At Blockchain, we always believe in putting users firmly in control of their funds and that hasn’t changed with the new iOS wallet. You’ll also find a new security PIN screen and we have updated the default miners’ fee when sending transactions.”
New features coming
Cary told CoinDesk that the new wallet for iOS will be available for users to download from the App Store today, adding:
“We invite bitcoin enthusiasts everywhere to give it a try. We’re looking forward to adding exciting new functionality going forward, including the very popular Merchant Map from our Android Wallet. Stay tuned for lots of updates.”
Prior to Apple’s removal of all apps offering cryptocurrency transactions in January 2014, Blockchain was the most downloaded bitcoin wallet for iOS devices.
Controversial ban
Blockchain’s announcement will likely come as welcome news for the bitcoin community, which protested loudly at Apple’s ban – with some users even shooting their iPhones in an unlikely show of support.
However, for reasons known only to Apple insiders, a new, more open policy was announced at the Worldwide Developer’s Conference in early June, paving the way once more for bitcoin wallets and other apps that transact using cryptocurrencies.
In the weeks since then, the App Store has seen the addition of several bitcoin apps, including an unofficial wallet for Coinbase users and Gliph, a messaging service that lets connected users send each other bitcoin. However, Blockchain is the first of the major players to offer wallet services on iOS since early 2014.
Nicolas Cary, CEO of Blockchain, told CoinDesk:
“The moment Apple signalled a shift in their policy toward digital currency apps, we pulled the iOS project off the shelf and got to work. We wanted to use this as an opportunity to improve the wallet, but we were still apprehensive about dedicating huge amounts of engineering time because it wasn’t clear what types of apps would get through the submission and approval process.”
He added: “Working with Apple has been quick and easy, and we really appreciate their thoughtful guidance – it’s a partnership we really value.”
The new app
As well as exchanging bitcoin between wallets, Blockchain’s app also allows iPhone and iPad users to make purchases from the fast-growing number of merchants that accept bitcoin – both online and in physical outlets.
That list has this year expanded to include major retailers such as Overstock, DISH, Expedia and, most recently, Dell (for more, see our guide to bitcoin-accepting merchants).
Cary said that Blockchain has rebuilt its wallet app from scratch to improve security, enhance performance, and introduce a new user experience. He explained:
“The app strikes a strong balance between functionality and security. At Blockchain, we always believe in putting users firmly in control of their funds and that hasn’t changed with the new iOS wallet. You’ll also find a new security PIN screen and we have updated the default miners’ fee when sending transactions.”
New features coming
Cary told CoinDesk that the new wallet for iOS will be available for users to download from the App Store today, adding:
“We invite bitcoin enthusiasts everywhere to give it a try. We’re looking forward to adding exciting new functionality going forward, including the very popular Merchant Map from our Android Wallet. Stay tuned for lots of updates.”
He further explained that the return to Apple iOS is “hugely important for bitcoin in general and very exciting for Blockchain”. The release of the app means that the hundreds of millions of iOS users around the world will now have the opportunity to experience bitcoin first-hand, Cary indicated, adding:
“Furthermore, this confirms that Apple is welcoming back the development community to invest, build, and create bitcoin apps again.”
Blockchain is currently the most popular bitcoin wallet in the world with over 1.9 million users. Its website, Blockchain.info, also hosts bitcoin charts, currency statistics, and a block-chain explorer.
Original author: Dan Palmer
In what has been dubbed “the first global conference dedicated to cryptocurrency mining”, Hashers United seeks to bring together the various elements of the mining industry for two days in Las Vegas.
Scheduled for 10th-11th October at the Tuscany Hotel and Casino, the event will feature more than 35 talks and workshops focusing on a variety of subjects. These include strategic planning, hardware management and development, investment and legal compliance.
Tim Draper, the Silicon Valley venture capitalist and recent buyer of the 30,000 Silk Road bitcoins, will take part in the conference’s keynote panel. According to the official event website, Draper will discuss the future of digital currencies, including the economic, monetary and legal implications of their development. Other speakers at the event include Charlie Lee, the creator of litecoin, and Vitalik Buterin, founder of the Ethereum protocol.
Hashers United is being organized by Final Hash, a mining contract company based in Houston, Texas. In a statement, the company’s executive technical director, Marshall Long, said that the industry is at a critical juncture and a forum for mining-oriented discussion is needed.
He remarked:
“We’re in contact with miners every day and their needs just aren’t being met via current conferences or even online. It’s time for a ‘real world’ forum where everyone, no matter their experience, can have an open and frank discussion about the key issues they are facing and how as a community we can help each other to overcome them.”
The full agenda – still being released in the run-up to the event – can be found here.
‘Mysterious’ founder of Avalon joins Weibo
The founder of bitcoin hardware maker Avalon has opened a Weibo account and begun interacting with the community.
Known under the moniker ‘ngzhang’, the Avalon founder conducted an online contest timed with the World Cup that saw the distribution of one hundred Avalon products to participants. As reported by Chinese bitcoin news site Bitell, the Avalon leadership seems to want to build new bridges with its customer base.
Most notably, ngzhang promised greater transparency between Avalon’s customers and the company itself. In the past, community members have criticized the company, and its privacy preferring leader, for seemingly failing to take complaints about product issues seriously.
Moving forward, ngzhang pledged to be more responsive to customers, with the social media profile opening and the World Cup-themed giveaway seen as possible diplomatic overtures.
As the Avalon founder said in a Weibo post:
“Finally, no more silence for Avalon.”
BTC Guild declares closure possible
One of the concerns within the community regarding the BitLicense proposal from the New York Department of Financial Services (NYDFS) is the risk that businesses within the space will be forced to shut their doors. At least one bitcoin mining pool, BTC Guild, has acknowledged that possibility in a recent statement to its user base.
BTC Guild currently comprises roughly seven percent of the bitcoin network hashrate, and in the past has represented as much as 15 percent of the network.
The pool operator explained in a 19th July statement that, under the proposed regulations, a mining pool of its size would face significant financial burdens attempting to comply, saying:
“Under the current proposals (subject to public comment and revision), operating a pool within the US will be impossible to do legally without obtaining significant personal information on all users, not just those in the US. There would also be significant financial costs which would exceed the amount of money the pool has generated since inception. Since there is no way anybody will mine on a pool with those requirements, it means that any pool in the US will be forced to shut down, or operate illegally and hope they’re ignored.”
BTC Guild added that, should the regulations be passed, it would be forced to shut down. However, the operator continued, legal counsel is still being consulted and closure is not anticipated at this time.
Bitmain lowers Antminer S3 output estimate
China-based bitcoin mining hardware maker Bitmain has announced that its Antminer S3 mining ASIC will ship with a lower baseline hash rate average.
The company announced in a 14th July post on the Bitcoin Talk forum that instead of the previously announced average of 478 GH/s, the S3 would ship with an average stable rate of 441 GH/s. However, Bitmain said that the devices could be overclocked to the previous number, and that instructions for doing so are forthcoming.
The company explained:
“When we were doing the first mass production, we found that not all of the S3’s DC/DC module could be stable enough to support the 478GH/s speed. After long time testing, all of the S3 run stably at 441GH/s, which however is 7.7% less than the 478GH/s we have announced.”
With apologies for the lowered estimate, Bitmain now offers its customers different options. They can opt to receive a 7.7 percent refund – equivalent to the estimated reduction in hashing power – or a 10 percent discount coupon on a future purchase.
Delivery of the S3 units is underway, with the next batch expected to begin shipping in early August.
Hanging up the miner hat?
Given the rising mining difficulty and the ever-climbing scale of hardware, it’s no surprise that some miners simply can’t afford to stay in business.
A long-running thread on Bitcoin Talk on the topic of shutting down received some recent activity, with several members telling their stories about how they manage to stay open – or finally close their doors and hang up the ASICs, as it were. Some users said that despite their best efforts, keeping the machinery running just didn’t keep up with the electrical costs.
The conversation focused, in part, on whether or not mining profitability for hobby-scale miners will continue. With margins as tight as they are, some users mused that they won’t be able to stay in business if the price of bitcoin continues to fluctuate in the $500-$600 range. Others said that they continue to mine even if they spend more on electricity than they make in bitcoin, citing the hope that the digital currency will grow rapidly in value in the months and years ahead.
One forum member commented that, in spite of shutting down, they didn’t have any bad feeling about their prior investments or the prospect of getting involved again one day.
He said:
“Have fun. It is for fun. I paid off the miners and then some with the earnings, and will see what happens to it. Maybe I will buy another miner or miners at some point.”
Got a cryptocurrency mining tip for future roundups? Contact us.
Disclaimer: This article should not be viewed as an endorsement of any of the companies mentioned. Please do your own extensive research before considering investing any funds in these products.
Images via Bitmain, Bitcoin Talk, BTC Guild, Hashers United
Avalonbitcoin miningBitmainMining Roundup
Original author: Stan Higgins
Original author: Nermin Hajdarbegovic
Original author: Tanaya Macheel
In the two previous articles of this series, Dario Di Pardo listed the highs and lows of having spent many thousands of dollars on pre-ordered bitcoin mining hardware and then having to endure delays, poor communication and broken promises, as some of the companies failed to provide the promised equipment in time.
In this last part of the series (see one and two here), Di Pardo tells CoinDesk which companies finally came good on their promises and which left him wishing he’d just spent his bucks on bitcoin. Di Pardo told CoinDesk, if he had one learned one thing from the experience, it was: ¨No more pre-ordering for this guy.¨
Vendor: Black Arrow
Product: Prospero X-3 (converted to bare chips)
Price including shipping: $4,978
Order date: 18th November 2013
Anticipated shipping date: 24th February 2014
Actual shipment date (chips): 11th July
Delay: 5 months
Status: Converted to ASIC chips As somewhat anticipated, Black Arrow missed their revised shipment date of 8th May. According to the company, they have been experiencing issues concerning the miner’s backplane, which are causing almost two months of additional delay. Black Arrow recently announced the issues to be resolved and that both X-1 and X-3 miner orders would be dispatched by the end of July. Together with the company’s latest news update, the option to convert pre-ordered miners into bare ASIC chips was provided, implying that each X-3 order could be exchanged for 100 ASIC chips, whereas you would get six chips for an X-1 order. When a mining company starts offering a miner-for-chips exchange, it might be a good idea to go with the offer, or you could end up with nothing at all, as I learned from my experience with HashFast. With this in mind, together with the now huge delay in shipment and the fact they are not increasing compensation further to match competitors’ prices at shipment time (which they said they would do earlier), I decided to go for the chips. Obviously, one cannot mine with chips alone. Fortunately, Technobit, a Bulgarian company, would be capable of turning these chips into mining rigs, where each 400 GH/s rig would contain four ASIC chips. Because Minersource, a mining gear and co-location company as well as Black Arrow’s US-based reseller, organized a group buy for all customers who converted their order into chips, the board assembly at Technobit can now be purchased at a discount. Even more, they managed to provide us a deal where each board assembly can be alternatively paid for with four additional chips. So with some money on top for chip coolers, controllers and power supplies (controllers and power supplies not necessary when opting for co-location), I would get a 5 TH/s miner with a price tag that matches today’s stock prices, instead of the now overpriced 2 TH/s X-3 miner (excluding the 1 TH/s compensation Black Arrow would send after all current orders have been shipped). Technobit is currently in the process of assembling all miners for the group buy, which will take about two weeks to complete. Although none of the X-3 orders have been currently shipped, some X-1 customers are now reporting receiving their hardware.
Vendor: HashFast
Product: Sierra (1.2 TH/s)
Price including shipping: $6,696
Order date: 18th November 2013
‘Guaranteed’ delivery date: 15th February 2014
Status: Bankruptcy announced 7th June (no product or refund received) Not surprisingly, HashFast entered bankruptcy under chapter 11 on 7th June.
As a result and most unfortunately, when that ship went down, my money went down along with it. Because I initially wasn’t included in the list of creditors the company presented to the bankruptcy Trustee (no surprise there either), I filed my claim online through the court’s site. I can only hope at this point that as a result of the reorganization process, I will get at least some of my money back.
Vendor: Virtual Mining Corporation (VMC)
Product: Fast-Hash One Platinum Edition (1 TH)
Price including shipping: $6,479
Order date: 24th November 2013
Anticipated shipping date: January 2014
Status: Refunded 23th June In addition to the Wood Law Firm investigation, Virtual Mining Corporation and its parent company Active Mining Company are now under investigation by the Missouri Secretary of State because the CEO of both companies, Kenneth Slaughter, wasn’t following proper procedures when soliciting investors. Maybe as a result, shortly after this announcement the company’s website went offline and is now only displaying a refund form intended for former customers. After applying for my refund using this form, I almost immediately got the order amount transferred to the bitcoin address provided. Although glad I made it out if this adventure with only some minor remaining health issues, I feel sorry for the many customers still waiting for their money. If the company will manage to ever get back on its feet, is yet to be seen.
Vendor: Bitmine
Product: CoinCraft Desk 1 TH/s (+ 0.4 TH/s compensation unit)
Price including shipping: $5,758
Order date: 28th November 2013
Anticipated shipping date: February, week 1
Actual shipping date: 2nd April
Delay: 7 weeks and 2 days
Status: Miners performing well Bitmine proves, having manufactured some sturdy mining hardware, as both the 1 TH/s Desk as well as the 0.4 TH/s compensation unit I received have been hashing continuously and flawlessly for over three months now. However, because of the delays in shipment of the CoinCraft Desk and CoinCraft Rig that resulted in many disappointed customers, the company is struggling to keep afloat. Due to the many refund requests which caused a shortage of funds, Bitmine is now postponing further refunds to customers till as far as October, much to the their frustration – a similar situation CoinTerra customers have been facing. To raise the necessary funds to survive, the company is now offering hosted mining plans and a revised, lower priced 1 TH/s CoinCraft Desk.
Vendor: KnCMiner
Product: Neptune (converted to 3 TH/s Jupiter)
Price including shipping: $10,175
Order date: 2014-01-07
Anticipated shipping date: Q2 2014
Actual shipping date: April 29th
Delay: None
Status: Miner repaired The repair process of the seven broken boards was fairly smooth and a few days after sending back to KnCMiner the broken ones, I received new boards – properly packed this time. The 28nm Jupiter miner I took in exchange for my Neptune order now hashes away steadily at about 3.1 TH/s while consuming around 3,800 watts at the wall, which averages out to about 1.22 W/GH/s. The new 20nm Neptune miner that has been shipping as of the end of June, hashes at around 3.3 TH/s while only consuming half the power per gigahash than its younger brother does. Despite the efficiency improvement and the fact that Neptune customers – at least those who took the time to read the offer’s small print – will additionally receive a compensation unit in August, I don’t think I made too big of a deal when converting my order after all, as I got the Jupiter rig two months earlier.
Vendor: Alpha Technology
Product: Viper (Scrypt) Miner (250 MH/s)
Price excluding shipping: £5,450 ($8,984)
Order date: 2014-01-10
Anticipated shipping date: July 2014
Delay: None Alpha Technology eventually announced further increasing the performance of both available Scrypt miners, to match competitor products at shipment time.
The 18 MH/s Viper will now be performing at a minimum of 50 MH/s, whereas the 90 MH/s miner will be hashing at a minimum of 250 MH/s. While approaching the July shipment deadline, the company went awfully quiet. Whether this will prove to be a positive thing, has yet to be discovered.
Vendor: CoinTerra
Product: TerraMiner IV 2 TH/s (converted to 2x 1.6 TH/s)
Price including shipping: $7,253
Order date: 2014-01-12
Anticipated shipping date: May 2014
Actual shipping date: 29th May
Delay: ‘None’
Status: Converted to 2x 1.6 TH/s miners After still not getting any replies to my emails I sent to the CoinTerra support team asking for a (partial) refund, I took a hint from one CoinDesk commenter and decided to call them instead. The experience turned out to be pretty similar to participating in a telephone game where you’d have to be the 100th caller in order to win a prize, except that you’d probably win said prize sooner than someone from CoinTerra actually answering the phone. However, when you get a hold of somebody eventually, you realize the company has some great support representatives working there who really care about your case. But as time IS money in this business, the company really ought to expand its support staff in order to limit customer frustration. After a long period of mailing and calling back and forth I took the presented offer of getting an additional TerraMiner IV (1.6 TH/s) for an extra $1,000. Additionally, I opted for the cheaper (ground) shipment option instead, to reduce the extra costs. Getting two miners for a total of $7,000 excluding shipping costs wasn’t the best offer after all, as a few days after I accepted the deal, you could buy a single, now in stock TerraMiner for $3,000. My pre-order was finally sent out on 29th May, 7 weeks after they began shipping from stock. After about 10 days of operation one TerraMiner broke down and had to be sent back for repair. As a result, I lost about a month of (precious) mining time from this machine. To this day, the hashrate of both rigs combined remains unstable, varying between 2.7 and 3.0 TH/s.
Vendor: Bitmain
Product: AntMiner S3 batch 1
Price including shipping: 0.75 BTC
Order date: 2014-06-30
Anticipated shipping date: 20th July
Actual shipping date: 20th July
Delay: None
Status: Hashing To discover what all the fuss was about, I decided to order the latest AntMiner from Bitmain. The S3, a product that has been selling like hotcakes since its release, reaches hashrates up to 441 GH/s while consuming a merely 340 watts from the wall. No surprises, no delays, no tricks, but plain getting what you paid for, as you would expect from any other decent company. Bitmain even offered compensation in the form of a 10% coupon or seven percent refund, because actual specifications were slightly off initial specifications. Mining image via Shutterstock Alpha TechnologyBitmainBlack ArrowHashFastkncminerminingViper
Vendor: Black ArrowProduct: Prospero X-3 (converted to bare chips)
Price including shipping: $4,978
Order date: 18th November 2013
Anticipated shipping date: 24th February 2014
Actual shipment date (chips): 11th July
Delay: 5 months
Status: Converted to ASIC chips As somewhat anticipated, Black Arrow missed their revised shipment date of 8th May. According to the company, they have been experiencing issues concerning the miner’s backplane, which are causing almost two months of additional delay. Black Arrow recently announced the issues to be resolved and that both X-1 and X-3 miner orders would be dispatched by the end of July. Together with the company’s latest news update, the option to convert pre-ordered miners into bare ASIC chips was provided, implying that each X-3 order could be exchanged for 100 ASIC chips, whereas you would get six chips for an X-1 order. When a mining company starts offering a miner-for-chips exchange, it might be a good idea to go with the offer, or you could end up with nothing at all, as I learned from my experience with HashFast. With this in mind, together with the now huge delay in shipment and the fact they are not increasing compensation further to match competitors’ prices at shipment time (which they said they would do earlier), I decided to go for the chips. Obviously, one cannot mine with chips alone. Fortunately, Technobit, a Bulgarian company, would be capable of turning these chips into mining rigs, where each 400 GH/s rig would contain four ASIC chips. Because Minersource, a mining gear and co-location company as well as Black Arrow’s US-based reseller, organized a group buy for all customers who converted their order into chips, the board assembly at Technobit can now be purchased at a discount. Even more, they managed to provide us a deal where each board assembly can be alternatively paid for with four additional chips. So with some money on top for chip coolers, controllers and power supplies (controllers and power supplies not necessary when opting for co-location), I would get a 5 TH/s miner with a price tag that matches today’s stock prices, instead of the now overpriced 2 TH/s X-3 miner (excluding the 1 TH/s compensation Black Arrow would send after all current orders have been shipped). Technobit is currently in the process of assembling all miners for the group buy, which will take about two weeks to complete. Although none of the X-3 orders have been currently shipped, some X-1 customers are now reporting receiving their hardware.
Vendor: HashFastProduct: Sierra (1.2 TH/s)
Price including shipping: $6,696
Order date: 18th November 2013
‘Guaranteed’ delivery date: 15th February 2014
Status: Bankruptcy announced 7th June (no product or refund received) Not surprisingly, HashFast entered bankruptcy under chapter 11 on 7th June.
As a result and most unfortunately, when that ship went down, my money went down along with it. Because I initially wasn’t included in the list of creditors the company presented to the bankruptcy Trustee (no surprise there either), I filed my claim online through the court’s site. I can only hope at this point that as a result of the reorganization process, I will get at least some of my money back.
Vendor: Virtual Mining Corporation (VMC)Product: Fast-Hash One Platinum Edition (1 TH)
Price including shipping: $6,479
Order date: 24th November 2013
Anticipated shipping date: January 2014
Status: Refunded 23th June In addition to the Wood Law Firm investigation, Virtual Mining Corporation and its parent company Active Mining Company are now under investigation by the Missouri Secretary of State because the CEO of both companies, Kenneth Slaughter, wasn’t following proper procedures when soliciting investors. Maybe as a result, shortly after this announcement the company’s website went offline and is now only displaying a refund form intended for former customers. After applying for my refund using this form, I almost immediately got the order amount transferred to the bitcoin address provided. Although glad I made it out if this adventure with only some minor remaining health issues, I feel sorry for the many customers still waiting for their money. If the company will manage to ever get back on its feet, is yet to be seen.
Vendor: BitmineProduct: CoinCraft Desk 1 TH/s (+ 0.4 TH/s compensation unit)
Price including shipping: $5,758
Order date: 28th November 2013
Anticipated shipping date: February, week 1
Actual shipping date: 2nd April
Delay: 7 weeks and 2 days
Status: Miners performing well Bitmine proves, having manufactured some sturdy mining hardware, as both the 1 TH/s Desk as well as the 0.4 TH/s compensation unit I received have been hashing continuously and flawlessly for over three months now. However, because of the delays in shipment of the CoinCraft Desk and CoinCraft Rig that resulted in many disappointed customers, the company is struggling to keep afloat. Due to the many refund requests which caused a shortage of funds, Bitmine is now postponing further refunds to customers till as far as October, much to the their frustration – a similar situation CoinTerra customers have been facing. To raise the necessary funds to survive, the company is now offering hosted mining plans and a revised, lower priced 1 TH/s CoinCraft Desk.
Vendor: KnCMinerProduct: Neptune (converted to 3 TH/s Jupiter)
Price including shipping: $10,175
Order date: 2014-01-07
Anticipated shipping date: Q2 2014
Actual shipping date: April 29th
Delay: None
Status: Miner repaired The repair process of the seven broken boards was fairly smooth and a few days after sending back to KnCMiner the broken ones, I received new boards – properly packed this time. The 28nm Jupiter miner I took in exchange for my Neptune order now hashes away steadily at about 3.1 TH/s while consuming around 3,800 watts at the wall, which averages out to about 1.22 W/GH/s. The new 20nm Neptune miner that has been shipping as of the end of June, hashes at around 3.3 TH/s while only consuming half the power per gigahash than its younger brother does. Despite the efficiency improvement and the fact that Neptune customers – at least those who took the time to read the offer’s small print – will additionally receive a compensation unit in August, I don’t think I made too big of a deal when converting my order after all, as I got the Jupiter rig two months earlier.
Vendor: Alpha TechnologyProduct: Viper (Scrypt) Miner (250 MH/s)
Price excluding shipping: £5,450 ($8,984)
Order date: 2014-01-10
Anticipated shipping date: July 2014
Delay: None Alpha Technology eventually announced further increasing the performance of both available Scrypt miners, to match competitor products at shipment time.
The 18 MH/s Viper will now be performing at a minimum of 50 MH/s, whereas the 90 MH/s miner will be hashing at a minimum of 250 MH/s. While approaching the July shipment deadline, the company went awfully quiet. Whether this will prove to be a positive thing, has yet to be discovered.
Vendor: CoinTerraProduct: TerraMiner IV 2 TH/s (converted to 2x 1.6 TH/s)
Price including shipping: $7,253
Order date: 2014-01-12
Anticipated shipping date: May 2014
Actual shipping date: 29th May
Delay: ‘None’
Status: Converted to 2x 1.6 TH/s miners After still not getting any replies to my emails I sent to the CoinTerra support team asking for a (partial) refund, I took a hint from one CoinDesk commenter and decided to call them instead. The experience turned out to be pretty similar to participating in a telephone game where you’d have to be the 100th caller in order to win a prize, except that you’d probably win said prize sooner than someone from CoinTerra actually answering the phone. However, when you get a hold of somebody eventually, you realize the company has some great support representatives working there who really care about your case. But as time IS money in this business, the company really ought to expand its support staff in order to limit customer frustration. After a long period of mailing and calling back and forth I took the presented offer of getting an additional TerraMiner IV (1.6 TH/s) for an extra $1,000. Additionally, I opted for the cheaper (ground) shipment option instead, to reduce the extra costs. Getting two miners for a total of $7,000 excluding shipping costs wasn’t the best offer after all, as a few days after I accepted the deal, you could buy a single, now in stock TerraMiner for $3,000. My pre-order was finally sent out on 29th May, 7 weeks after they began shipping from stock. After about 10 days of operation one TerraMiner broke down and had to be sent back for repair. As a result, I lost about a month of (precious) mining time from this machine. To this day, the hashrate of both rigs combined remains unstable, varying between 2.7 and 3.0 TH/s.
Vendor: BitmainProduct: AntMiner S3 batch 1
Price including shipping: 0.75 BTC
Order date: 2014-06-30
Anticipated shipping date: 20th July
Actual shipping date: 20th July
Delay: None
Status: Hashing To discover what all the fuss was about, I decided to order the latest AntMiner from Bitmain. The S3, a product that has been selling like hotcakes since its release, reaches hashrates up to 441 GH/s while consuming a merely 340 watts from the wall. No surprises, no delays, no tricks, but plain getting what you paid for, as you would expect from any other decent company. Bitmain even offered compensation in the form of a 10% coupon or seven percent refund, because actual specifications were slightly off initial specifications. Mining image via Shutterstock Alpha TechnologyBitmainBlack ArrowHashFastkncminerminingViper
Original author: Dario Di Pardo