Posts Tagged ‘Scrypt ASIC

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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 info@bitmaintech.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.

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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.

To check out the Fight Alpha Technology Scam website for some useful information…

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The Alpha Technology Scrypt ASIC manufacturer has been silent for more than a month already since their last update, even though they did promise to release a video of a prototype miner after showing pictures of the chips that they have apparently received already. Since then however there is no word on anything going on, no video, no new delay information for the shipment schedule of the actual products, no nothing. Interesting enough the company seems to be still sending partial refunds to users that wanted to get these instead of continue to wait for hardware. In the end the intention of Alpha Technology could’ve been just that – promise something, not delivering it and returning a percentage of the money they’ve got from customers, and keeping the rest. It all sounds a lot like a classic scheme for a scam as apparently the company does not plan to deliver anything, even if they have actually made some hardware, or at least things look more and more like that is the case. In the meantime customers are apparently working on taking legal action against the company, though it seems that many have already asked and received partial refunds and have given up completely on dealing with Alpha Technology as well.


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