BitHashMiner: Difference between revisions

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<span style="color:red;">Warning: There are discussions on the [[BitcoinTalk Forum]] and at [[wikipedia:Reddit|Reddit]] suggesting that this may be a scam.<ref> https://bitcointalk.org/index.php?topic=944406.0</ref><ref>http://www.reddit.com/r/Bitcoin/comments/2umgwg/bithashminer_10ths_bitcoin_miner/</ref></span>
{{infobox company|image=[[File:Logo-bithashminer.png|256px]]
----
|foundation=February 2, 2015
|defunct=February 9, 2015
|bitcointalk=430668
|bitcoinwiki=BitHashMiner.com
}}'''BitHashMiner''' was a vaporware scam notorious for being very poorly executed and persisting carelessly. A single product was offered, also called a '''BitHashMiner''', which was a preorder [[ASIC|mining rig]] with supernatural specs at an unrealistically low price. The scam has been labelled by onlookers as "thread gold",<ref name="noddy">{{cite btct|id=944406|title=BitHashMiner 10TH/s Bitcoin Miner|date=2 February 2015|post=10432636}}</ref> "hysterical",<ref>{{cite btct|id=944406|title=BitHashMiner 10TH/s Bitcoin Miner|date=2 February 2015|post=10422048}}</ref> "the most blatant scam attempt",<ref>{{cite btct|id=944406|title=BitHashMiner 10TH/s Bitcoin Miner|date=2 February 2015|post=10358912}}</ref> "the yoda sales force",<ref>{{cite btct|id=944406|title=BitHashMiner 10TH/s Bitcoin Miner|date=2 February 2015|post=10371637}}</ref> "obvious scam",<ref>{{cite reddit|r=Bitcoin|title=BitHashMiner 10TH/s Bitcoin Miner|id=2umgwg|date=3 February 2015|post=https://www.reddit.com/r/Bitcoin/comments/2umgwg/bithashminer_10ths_bitcoin_miner/co9prao}}</ref> "mind blowing",<ref>{{cite btct|id=944406|title=BitHashMiner 10TH/s Bitcoin Miner|date=2 February 2015|post=10386707}}</ref> and "half ass attempt to scam people".<ref>{{cite btct|id=944406|title=BitHashMiner 10TH/s Bitcoin Miner|date=2 February 2015|post=10392058}}</ref> It is remembered as the most futile scam attempt in Bitcoin history and is used as a textbook example of vaporware, helping people identify scams on their own.<ref name="trs">{{cite btct|id=944406|title=BitHashMiner 10TH/s Bitcoin Miner|date=2 February 2015|post=10367735}}</ref>


BitHashMiner is introducing BitHashMiner 10TH/s Bitcoin Miner With Amazing Price $1,000, Limited Time Offer,
The scam was an unintentional exhibition of many warning signs and red flags that deterred potential victims.


Product Description: BitHashMiner is the Best device which will have 20nm ASIC chips, Each ASIC chip performs 400 GH/s, BitHashMiner is Powerful and Energy Efficient SHA-256 Mining Machine with Advanced Techniques.
==Hardware==
[[File:BitHashMiner.jpg|thumb|The hardware render used on [[BitcoinTalk]]]]
The 9 lb. rig itself featured 10 T[[hash/s]] for $1000, with 25 20nm [[ASIC]] chips.<ref name="op">{{cite btct|id=944406|title=BitHashMiner 10TH/s Bitcoin Miner|date=2 February 2015}}</ref> There is a screen on the miner depicting a [[CGMiner]] instance with two graphics cards [[Scrypt]] mining in late 2013.<ref name="op"/><ref>{{cite btct|id=944406|title=BitHashMiner 10TH/s Bitcoin Miner|date=2 February 2015|post=10340530}}</ref> There are also two 750W power supplies,<ref name="op"/> which weigh about 5 lbs. each,<ref>[http://www.amazon.com/Intel-ASR2500PS-Supply-Redundant-SR2500NA/dp/B000FSAA8O 750W power supply product listing on Amazon]</ref> meaning that the casing, fans, and chips must have negative weight, and would be at risk of floating away without the power supplies weighing them down.<ref>{{cite btct|id=944406|title=BitHashMiner 10TH/s Bitcoin Miner|date=2 February 2015|post=10372287}}</ref>


Website: http://www.bithashminer.com/
There was an enforced limit of two items per buyer,<ref name="op"/> which is a telltale sign of a dishonest sale.<ref>{{cite journal|url=http://www.sundoginteractive.com/sunblog/posts/three-not-so-obvious-nominations-for-the-advertising-hall-of-fame|title=Three Not-So-Obvious Nominations for the Advertising Hall of Fame|first=Lee|last=Schwartz}}</ref>


<references />
The rigs were offered with free shipping and a five year warranty, and were expected to ship in April.<ref name="op"/><ref>http://bithashminer.kinja.com/bithashminer-10th-s-bitcoin-miner-1684345699</ref> By February 12, the [[BitcoinTalk]] account of BitHashMiner was inactive and the website was down; no units ever shipped.<ref name="noddy"/>
 
==Impact==
On February 5, 2015, BitHashMiner issued a statement<ref>{{cite btct|id=944406|title=BitHashMiner 10TH/s Bitcoin Miner|date=2 February 2015|post=10370685}}</ref> declaring that [[Taras]] and [[TheRealSteve]], prominent editors of the [[Bitcoin Wiki]], were "Big Gang Mafia"<ref name="bgm">{{cite btct|id=944406|title=BitHashMiner 10TH/s Bitcoin Miner|date=2 February 2015|post=10367455}}</ref> and that they had accepted "huge money" from [[EMIC]], [[HashCoins]] and [[Achilles Labs]] to keep their listings on the "[[Mining hardware comparison]]" page of the wiki, while removing other potential scams.<ref>{{cite btct|id=944406|title=BitHashMiner 10TH/s Bitcoin Miner|date=2 February 2015|post=10385795}}</ref> In addition to Taras and TheRealSteve,<ref name="bgm"/> BitHashMiner branded AJRGale<ref>{{cite btct|id=944406|title=BitHashMiner 10TH/s Bitcoin Miner|date=2 February 2015|post=10386267}}</ref> and [[Luke-Jr]]<ref>[https://en.bitcoin.it/w/index.php?title=BitHashMiner&oldid=54152 Bitcoin Wiki revision 54152] summary</ref> as spammers.
 
Citing these accusations, new policies were added to the relevant areas of the wiki to bar units that have not shipped from being advertised. The claims of bribery were refuted as the mining hardware comparison page was poorly moderated and relatively obscure.<ref name="trs"/> Taras and TheRealSteve denied having been offered a bribe.<ref>{{cite btct|id=944406|title=BitHashMiner 10TH/s Bitcoin Miner|date=2 February 2015|post=10371160}}</ref>
 
Later on February 5, a [[BitcoinTalk]] user posted a grateful message to all the users who had called BitHashMiner a scam, as he had been prepared to spend $7,000 on 7 units.<ref>{{cite btct|id=944406|title=BitHashMiner 10TH/s Bitcoin Miner|date=2 February 2015|post=10372197}}</ref> He claimed that the money was very important to him, and his statement stands as proof that vaporware scams could be extremely profitable even when very poorly executed and that scam accusations are crucial.<ref name="trs"/>
==References==
<references/>

Latest revision as of 21:06, 18 October 2015

BitHashMiner
FoundedFebruary 2, 2015
DefunctFebruary 9, 2015
 BitcoinTalk  Bitcoin Wiki 

BitHashMiner was a vaporware scam notorious for being very poorly executed and persisting carelessly. A single product was offered, also called a BitHashMiner, which was a preorder mining rig with supernatural specs at an unrealistically low price. The scam has been labelled by onlookers as "thread gold",[1] "hysterical",[2] "the most blatant scam attempt",[3] "the yoda sales force",[4] "obvious scam",[5] "mind blowing",[6] and "half ass attempt to scam people".[7] It is remembered as the most futile scam attempt in Bitcoin history and is used as a textbook example of vaporware, helping people identify scams on their own.[8]

The scam was an unintentional exhibition of many warning signs and red flags that deterred potential victims.

Hardware

The hardware render used on BitcoinTalk

The 9 lb. rig itself featured 10 Thash/s for $1000, with 25 20nm ASIC chips.[9] There is a screen on the miner depicting a CGMiner instance with two graphics cards Scrypt mining in late 2013.[9][10] There are also two 750W power supplies,[9] which weigh about 5 lbs. each,[11] meaning that the casing, fans, and chips must have negative weight, and would be at risk of floating away without the power supplies weighing them down.[12]

There was an enforced limit of two items per buyer,[9] which is a telltale sign of a dishonest sale.[13]

The rigs were offered with free shipping and a five year warranty, and were expected to ship in April.[9][14] By February 12, the BitcoinTalk account of BitHashMiner was inactive and the website was down; no units ever shipped.[1]

Impact

On February 5, 2015, BitHashMiner issued a statement[15] declaring that Taras and TheRealSteve, prominent editors of the Bitcoin Wiki, were "Big Gang Mafia"[16] and that they had accepted "huge money" from EMIC, HashCoins and Achilles Labs to keep their listings on the "Mining hardware comparison" page of the wiki, while removing other potential scams.[17] In addition to Taras and TheRealSteve,[16] BitHashMiner branded AJRGale[18] and Luke-Jr[19] as spammers.

Citing these accusations, new policies were added to the relevant areas of the wiki to bar units that have not shipped from being advertised. The claims of bribery were refuted as the mining hardware comparison page was poorly moderated and relatively obscure.[8] Taras and TheRealSteve denied having been offered a bribe.[20]

Later on February 5, a BitcoinTalk user posted a grateful message to all the users who had called BitHashMiner a scam, as he had been prepared to spend $7,000 on 7 units.[21] He claimed that the money was very important to him, and his statement stands as proof that vaporware scams could be extremely profitable even when very poorly executed and that scam accusations are crucial.[8]

References

  1. ↑ 1.0 1.1 BitcoinTalk thread 944406. BitHashMiner 10TH/s Bitcoin Miner 2 February 2015. Post 10432636.
  2. ↑ BitcoinTalk thread 944406. BitHashMiner 10TH/s Bitcoin Miner 2 February 2015. Post 10422048.
  3. ↑ BitcoinTalk thread 944406. BitHashMiner 10TH/s Bitcoin Miner 2 February 2015. Post 10358912.
  4. ↑ BitcoinTalk thread 944406. BitHashMiner 10TH/s Bitcoin Miner 2 February 2015. Post 10371637.
  5. ↑ /r/Bitcoin thread 2umgwg. BitHashMiner 10TH/s Bitcoin Miner 3 February 2015. This post
  6. ↑ BitcoinTalk thread 944406. BitHashMiner 10TH/s Bitcoin Miner 2 February 2015. Post 10386707.
  7. ↑ BitcoinTalk thread 944406. BitHashMiner 10TH/s Bitcoin Miner 2 February 2015. Post 10392058.
  8. ↑ 8.0 8.1 8.2 BitcoinTalk thread 944406. BitHashMiner 10TH/s Bitcoin Miner 2 February 2015. Post 10367735.
  9. ↑ 9.0 9.1 9.2 9.3 9.4 BitcoinTalk thread 944406. BitHashMiner 10TH/s Bitcoin Miner 2 February 2015.
  10. ↑ BitcoinTalk thread 944406. BitHashMiner 10TH/s Bitcoin Miner 2 February 2015. Post 10340530.
  11. ↑ 750W power supply product listing on Amazon
  12. ↑ BitcoinTalk thread 944406. BitHashMiner 10TH/s Bitcoin Miner 2 February 2015. Post 10372287.
  13. ↑ Schwartz, Lee. Three Not-So-Obvious Nominations for the Advertising Hall of Fame. http://www.sundoginteractive.com/sunblog/posts/three-not-so-obvious-nominations-for-the-advertising-hall-of-fame.
  14. ↑ http://bithashminer.kinja.com/bithashminer-10th-s-bitcoin-miner-1684345699
  15. ↑ BitcoinTalk thread 944406. BitHashMiner 10TH/s Bitcoin Miner 2 February 2015. Post 10370685.
  16. ↑ 16.0 16.1 BitcoinTalk thread 944406. BitHashMiner 10TH/s Bitcoin Miner 2 February 2015. Post 10367455.
  17. ↑ BitcoinTalk thread 944406. BitHashMiner 10TH/s Bitcoin Miner 2 February 2015. Post 10385795.
  18. ↑ BitcoinTalk thread 944406. BitHashMiner 10TH/s Bitcoin Miner 2 February 2015. Post 10386267.
  19. ↑ Bitcoin Wiki revision 54152 summary
  20. ↑ BitcoinTalk thread 944406. BitHashMiner 10TH/s Bitcoin Miner 2 February 2015. Post 10371160.
  21. ↑ BitcoinTalk thread 944406. BitHashMiner 10TH/s Bitcoin Miner 2 February 2015. Post 10372197.
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