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− | {{infobox company | image = [[ | + | {{infobox company|image=[[File:Logo-bithashminer.png|256px]] |
− | | foundation = | + | |foundation=February 2, 2015 |
− | | defunct = | + | |defunct=February 9, 2015 |
− | | bitcointalk = 430668 | + | |bitcointalk=430668 |
− | | bitcoinwiki = BitHashMiner.com | + | |bitcoinwiki=BitHashMiner.com |
− | }} '' 'BitHashMiner' ' | + | }}'''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> |
− | + | The scam was an unintentional exhibition of many warning signs and red flags that deterred potential victims. | |
− | == | + | ==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> | |
− | + | 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> | |
− | + | 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/> |