Hey Steemians,
We are all aware about the Bitcoin mining, its necessity, its raising difficulty, increase in fees as well as hardware complications. Bitmain ASIC Antminer S9 is considered to be best hardware as of now, to be the most efficient mining hardware for bitcoin. But soon we may witness a revolution in Bitcoin Mining as Halong Mining is ready with a new bitcoin mining hardware, DragonMint 16T.
Mining hardware name has been derived from the chat channel on BTC Core Community, Dragon Den. DragonMint 16T is fully equipped with latest designed chipset and it is able to produce unbelievable 16 THs. The company claims that the machine is going to consume 30% less electricity that its direct competitor Bitmain Antminer S9. They claim DragonMint to be the most advanced miner.
For entering ASIC market, the most important factor is huge capital as creating specialized chips is expensive. Company claims that the the hardware as well chips has been created under the guidance of specialized experts. Halong Mining as of now has workforce of 100 people including software & electronic engineers and claims to have invested nearly $30 millions in R&D of the hardware.
A prototype is already being used for practical testing as well as final tuning but that wont be available for public use as of now. They have also posted a video of DragonMint.
Company may produce first mass-batch of DragonMint miners in coming months and may start shipping to customers by First Quarter 2018. It may also sell mining chips individually but in bulk.
BTcDrak, Bitcoin Core Contributor who has actively helped Halong Mining setting up DragonMint believes that Single mining hardware hanufacturer is not good for Bitcoin as it creates monopoly. Centralization is a huge drawback in mining keeps you vulnerable to governments as well as criminals. He has brought the competition to protect the miners as well as people involved via Decentralization.
One advice to those who got plans to step into mining "business" :
There is nothing more important in your preparations than to PROPERLY evaluate and predict the growth of the mining difficulty.
If you fail to do this right - your planed (expected) profits will turn into nothing but disappointment and losses.
You can trust me, as the past owner of the first and second generation of ASIC's. (not to mention cpu, VGA and FPGA mining)
Thanks for your valuable feedback and opinion @onealfa
From your experience, generally, what is the ROI you've received and how long have they been profitable for on those previous gens of ASICs you've used? (Variables such as BTC price / elec cost obvi. have a great effect)
I do not remember all so well...been 3 or 4 years since then. But ROI was not that fantastic, in general they mined to me about ~1,5-1,7 times more BTC than I have paid for them (measured all in BTC, until it became full non-profitable, below the electricity cost). Shipping was dealyed much, and 1 month late in starting was making a huge huge reduction to ROI ( due to a very fast difficulty increase) Hence - my warnings.
Hello @noates
Experience and feedback shared by @onealfa are quite appropriate and appreciated!
WE HOPE THAT IT COMES OUT SOON TO THE MARKET THAT HAS THE REACH THAT MENTION, I HAVE BEEN INQUIRING ON THIS MACHINE AND IT SEEMS TO PROMISE GOOD EXPECTATIONS. @onealfa
I'll take two please, where do I sign up!
Hello @yonny
Please refer to https://halongmining.com/
Thanks!
Very informative.....
Thank you @honeychum for your valuable upvote!
yes
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@pkalra thank you for sharing this with us, I personally think with Dragonmint miner coming out, Antminer should come on cheap prices and there's not much difference at the moment. especially, Antminer being 13 TH/s miner beast... :)
Yeah @bunnychum, one way or another, consumer should be benefited!
true indeed... :D
@bunnychum hopefully it will!
I think the key advantage that will atract more miners is not the increase on the hashing speed, but the fact it will use 30% less electricity.
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Until I see a room full of them and proof of product or production I'm always leery about new mining equipment offerings. Looking back onto when ASIC Bitcoin miners first erupted onto the scene a number of years back I remember a number of startups claiming to have cheap, powerful and production ready miners but in the end just running off with customers cash.
Hopefully these guys actually deliver these running at the advertised speeds and efficiency!
Always do your own research of course.
Thank you for sharing your experience @klye
Jeez, mining as a process is outdated and obsolete in 2017, but they still are making tons of these shitty ASICs... Is this OK, when a couple of nuclear power stations are generating power just to power bitcoin miners (equivalent of power generated)?
Until mining is profitable, all this is definitely going to stay @equites
Some nice piece of information!
Hey @pkalra
This is very informative post
Thank you @trendingupdates
I am wondering about price. Also 16T is not big change according to S9. Only 18% if we consider S9 is 13.5 T. If the price come with half of S9 then it is considerable. Other way it will be investment for waiting BTC to rise more. I am sure it will happen but it will increase ROI. Thanks for sharing
You are welcome @kacaglayan
Biggest advantage of DragonMint 16T is 30% savings on electricity than Antminer!
true indeed
Do you have any video tutorials for this mining equipment that how we can use it? and how much does it cost?
Hello @adeelghaziani
Please refer to https://halongmining.com/
thanks
Revolution in Bitcoin Mining
very nice post
Thanks @nikosnitza
your welcome
very good post
Thanks @rayhan081
it is expensive
Yeah, as of now it is @silovar88
very nice post thanks for posting such type of details.
You are welcome @vipins
ill take two plz my lucky panda
Hello @luckypanda
Please refer to https://halongmining.com/
Thanks for the update
You are welcome @vogeltron1
I'm skeptical.
ASIC mining manufacturers (other than Bitmain) unfortunately have a habit of promising more than they deliver.
But I'd love to see this become a reality.
Surely You should wait for the results once its made public @anarchyandporn
Adam Back is supporting them, so the miners are legit. The only issue is with the ability of the company to scale the production.
May be that is the reason for minimum order by Company is 5 units per order @maaren
That makes no sense. Minimum order of 5 doesn't do anything to alleviate the production scaling. Big miners will be ordering batches of 1000 miners. The small miners that would buy one or two are few and far between.
They already postponed their first deliveries to March 2018 and said that these delivery times were an estimate, so the demand must be through the roof.
Have you tried it personally?
Not yet.. Will be posting another article once done @cryptoproff
Okay mate @pkalra I always know hardware will come that will reduce the electricity usage, thanks for the info and I'll look out for it.
Impormative post @pk
Thanks @myeasin
The more competition the better for sure!
Yeah @bitstudio
The competition will definitely benefit many!
Awesome I was just looking into this to find more info on the new best options for the future. Thankyou i am following you now
Thank you @mjhiggs16
This is very interesting, thanks for sharing. :)
You are welcome @stevejhuggett
I prefer nice hash for mining and this gpu will definitely be a good mining hardware ☺️
Yeah it should be @abhinashuprety22
Hope so
This is pretty exciting news, min order 5 units bit much for me lol
Yeah. Hopefully with time it gets cheaper @crypto3em3
The price of Bitcoin keeps going up and so does the mining complexity so we need more and more complex mining equipment. Owning such latest,functional high tech equipment a dream . Don't know when it would come true :)
Keep working for it. You should have it to generate revenues @animaya
So looks like the minimum order is 5 units, so if you've got $7,975 spare change you're good to go!
LOL.. Yeah @noates
Just $7,975 change.. :-)
nice my friend
Thanks @hasida420
what is this price ? for pre-order
Hello @moorkedi
Please refer to https://halongmining.com/
wow! This produces a lot of noise...
However this is very productive as well... nice man!
Thanks @robertoueti
WE HOPE THAT IT COMES OUT SOON TO THE MARKET THAT HAS THE REACH THAT MENTION, I HAVE BEEN INQUIRING ON THIS MACHINE AND IT SEEMS TO PROMISE GOOD EXPECTATIONS. @pkalra
Yeah. Hope for the best and good result from DragonMint @helios-steem
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I was going to order a unit but unfortunately there is a minimum 5 units per order. I will have to wait till someone reviews it.
Thank you for the information. Those of us who are new to Cryptocurrency appreciate you and the other veterans taking the time to share these types of advancements.
You are welcome @hkniazi