Grin Improvement Proposal 1: put later phase outs on hold and rephrase primary PoW commitment

No we never shipped any Ethereum miner. The first chip came back functional but there is some performance/stability issue that required a fix to address. We now have the fixed chip back and it is looking promising.

What complicates the situation is that there are multiple players each producing miners. So it is very difficult to model the right amount of miners that will maximize profit. What often happens is that you will be forced to drop prices and sell your stock before the competitions do. It is often very dynamic and chaotic.

Miner companies like Innosilicon typically don’t want to do self-mining because it stretches out the capital cycle and put stresses on cash flow. It is usually forced into self-mining if the market price for miner is depressed thus self-mining might be more desirable. Another reason is that there will be sub par machines that is not good for sale but can be used on a self-mining basis to recover a portion of the investment.