Bitcoin Core developer will make AntMiner’s killer

Active Bitcoin developer BtcDrak became a co-founder of Halong Mining
23 November 2017   1522

Now Halong Mining company is testing a pilot version of a mining machine called DragonMint 16T.  BtcDrak considers that the machine can produce a total of 16 th/s and its energy efficiency is 30 percent higher than that of today's industry leader Bitmain’s AntMiner S9. The first serial release of the DragonMint 16T is scheduled for March 2018. In the development of the device has already invested about $ 30 million.

Bitmain's mining machines that have dominated the market in recent years. Over 70% of the network capacity is now produced by Bitmain machines, and about half are pools that are either directly owned or closely related to Bitmain - for example, AntPool, BTC.com, ConnectBTC and ViaBTC. BtcDrak considers that it is a problem of centralization. He hopes that DragonMint 16T will offer an alternative to Bitmain's mining machines.

One manufacturer as a monopoly is not good for Bitcoin. Centralization in mining is a problem regardless of how benevolent you are. If there is a center, then governments and criminals can attack it. Decentralization protects the entire system and all its participants. So I wanted to bring competition.

 

BtcDrak

Bitcoin Core developer.

Already Halong Mining done building on the research over the past year. And now the company is considering open sourcing its board designs and software.

'Kodak Miner' Turned Out to be a Scam

KashMiner by Spotlite USA was promoted as Kodak branded bitcoin miner 
17 July 2018   143

The KashMiner bitcoin miner, exhibited at the Kodak stand during the CES technology show in Las Vegas, was in fact a product designed to mislead potential consumers and with a potentially unattainable potential return. This is reported by BBC.

Spotlite USA is licensed by Kodak's lighting division, which allows it to use the famous brand in its products. In January 2018 the company introduced its miner and announced that it intends to lease it. According to its business plan, potential users had to pay a commission before getting the device. It was expected that after depositing $ 3,400, the customer will receive a device that will allow him to easily cover expenses and receive revenue from bitcoin mining.

However the company did not have an official Kodak license to use the brand in the production of mining equipment and initially overstated the indicators of the potential profit of its device, refusing to take into account the growing complexity and costs of bitcoin mining. The advertising materials reported that KashMiner brings $ 375 a month, which, subject to a 2-year contract, would allow the client to receive $ 5,600 of profit after paying a commission. Experts from the industry of cryptocurrency call this offer a scam.

There is no way your magical Kodak miner will make the same $375 every month.
 

Saifedean Ammous

Economist

CEO Spotlite USA Halston Mikail previously reported that he plans to install hundreds of miners at the headquarters of Kodak. According to him, he already managed to place 80 miners there, but the Kodak spokesman denied this information.

While you saw units at CES from our licensee Spotlite, the KashMiner is not a Kodak brand licensed product. Units were not installed at our headquarters.
 

Kodak Spokesman

In a phone call with the BBC, Spotlite's Halston Mikail said the US Securities and Exchange Commission (SEC) had prevented the scheme from going ahead.