All About Bitcoin and Litecoin mining and other alternative crypto currencies
With the current situation on the crypto currency markets and especially the low exchange rate of the Litecoin it is no wonder that we are seeing another ASIC manufacturer cancelling their plans to release a new Scrypt ASIC Miner. The problem with these kinds of actions is that manufacturers are loosing users trust, even though they may try to compensate their customers in some way. Back when BitMain announced the pre-order for the L1, something new for them back then, we weren’t that happy and now we are also not very happy with the fact that BitMain waited up until now to announce they are cancelling the L1 when they were supposed to actually start shipping the finished product. Below you can find quoted the official announcement from BitMain about the discontinuation of Antminer L1 along with what options they offer to customers who have pre-ordered the miner:
Dear loyal customers,
The decision has been taken not to continue production of the Antminer L1
In response, all customers will be able to choose one of three options:
1) The original order value of $599 will be refunded at 105% value [$629] by bitcoin at current market rates. Customers will receive bitcoin payment.
2) The original order value of $599 will be refunded at 110% value [$659] by bitcoin at current market rates. This will be credited against any new S3/S4/C1 order placed in the web store.
3) The original order value of $599 will be credited at 115% value [$689] against an S5 order placed in the web store. This will be issued in the form of a 15 day coupon, each coupon valued [$344.5].
Please await an email email@example.com for further instructions.
Though we are sorry that we do not deliver this time, it still turns out that buying L1 from BITMAIN is a very best way to earn more Litecoin.
Data Analysis: In the beginning of L1 sales, you only need to pay 115.86LTC to buy one L1 per the LTC/USD exchange rate 5.17 in the early September. However, you will get 193.22LTC under current LTC/USD exchange rate 3.1. And then plus extra 5% value, a total amount you get is 202.88LTC per unit. Return on investment is 75%. If you choose coupon compensation, Return on investment is 91%.
It is not very clear weather BitMain has already finished with the development and has actually produced some mining hardware or they are cancelling things before they have actually been finalized. The problem is that after ZeusMiner cancelled their Volcano miner and 3rd generation Scrypt ASICs and now the same happening with BitMain and their AntMiner L1 Scrypt ASIC things do not look that good for Litecoin and other Scrypt crypto currencies. The low exchange rate of LTC at the moment makes older Scrypt ASIC miners not very profitable to run due to their high power usage and with no newer generation more efficient miners announced to be coming soon things could get even worse.
The maker of ASIC Bitcoin miners TechnoBit, using various ASIC chips as a source for their miners, has announced a new interesting product based on Spondoolies Tech’s RockerBox ASIC. The device is designed to be small both in size and in terms of hashrate, but also to be quiet and power efficient. It is targeted at home miners that are mining just as a hobby as it will not be mining a lot of coins at the current Bitcoin network difficulty, but the good price of the miner makes it affordable and easy to acquire to also play out with ASIC miner if you haven’t done so yet. The Dice is delivered with set of Windows/Linux software (cgminer-based) that should allow the use of the device in two different ways – either as an entry level Bitcoin mining device to work with a mining pool or as a personal Bitcoin lottery device with a custom software and do solo mining testing your luck – every 10 minutes, you have a chance of 150/300,000,000 to get 25 BTCs.
TechnoBit DICE Specifications:
– Hash Rate: 150 GH/s at 0.75V and 125 Ghs at 0.69 V
– Power Efficiency: 0.7 Watt/GH/s on wall at 0.75V and 0.6 Watt/GH/s on wall at 0.69V
– Power Usage: 105-108 Watts at 150 GHS
– Voltage: DC 12V input, 9A
– Chip Quantity per unit: 1
– One 80mm quiet fan
– Noise: ~20 DB at 25°C ambient temperature
– Hashrate and VDD core voltage can be adjusted via cgminer command line
– USB connection
– 12V both PCI-E and barrel connectors
– Certificate Compliance: FCC/CE
You can say that the TechnoBit Dice can be a better alternative to BitMain’s U3 ASIC miner. The Dice is more power efficient and provides higher hashrate and you can buy it in the form of a single unit, unlike BitMain who had a minimum order quantity of 20 units while the miner was available for sale on their website. TechnoBit’s Dice will start shipping on December 18th and you can currently pre-order a single unit with a price of 78 EURO with additional 8% discount if you order 10 units, though it is not a very wise idea to go for 10 or more of these for personal use. If you want to have the same power efficiency and higher hashrate you might want to take a look at the bigger Spondoolies Tech ASIC miners that use more than just one RockerBox ASIC chips.
After over a month of silence with no updates Alpha Technology have released a new update on their status on the Viper Scrypt ASIC miners showing some photos of what seems to be the final enclosure of the miner as well as a board with 12 ASIC chips installed on it. Alpha Technology claims a better than expected performance of 1.5 MHS per chip and also says the chips could be overclocked further, the claim of these chips being “the most efficient on the market” however seems like an overstatement. The most important thing missing is information in the new update from Alpha Technology on when are they planning to stat shipping exactly as customers are already tired of things getting postponed for a later date. This Time Alpha Technology says soon, but how soon exactly and how many people are actually let that did not request to get a refund. Even if they do manage to ship any hardware anytime soon or at all we won’t be surprised to see the situation with KNC’s Titan miners repeating. Meanwhile there is already a dedicated website called Fight Alpha Technology Scam that is a forum dedicated to helping with useful information and advice people that want to get their money back from Alpha-T.