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Topic: [Announcement] Block Erupter USB - page 50. (Read 251998 times)

member
Activity: 280
Merit: 13
May 04, 2013, 08:58:10 PM
Those who were hoping to pay $50 and make a massive profit instantly... I don't feel sorry for you. That's not how business works.

If you wanted to make 10x returns on your BTC, you should have taken the risk and invested in ASICMINER's IPO. You can't expect a successful company to give away products for far less than what people are willing to pay for them.

Actually I don't think any serious person was naive enough to assume they would make huge profits from a keychain miner, attraction was mainly for novelty purposes and as a stopgap during the delay in more capable ASIC being deployed to masses, since AM has proved credibility and can give short lead time.

I think a lot of people are NOT purchasing at this pricepoint- not because they won't make $$, but for the simple reason that they will not even recoup the cost of the investment, (from conservative predictions about the future increase in network power and diff) and this device has little to no resale value, and no alternate applications, it's just make no sense.

I imagine they would of sold like hotcakes at a lower price point, regardless there will be people willing to pay this inflated amount.. so smart to limit qty to bulk and have the retail take a mark up on end users, at least shareholders getting paid nicely, and they can pump this to the less savvy.

member
Activity: 72
Merit: 10
May 04, 2013, 08:49:32 PM
BTW, I will buy 10 if it prices at 1 Bitcoin.
As 2 Bitcoin, at most I can afford 1 USB.

Quoted for those who think ASICMINER is charging too much.   Grin

Of course everyone wants them cheap, but these are the only ASIC devices available right now, and there is a limited number that can be produced. They are going to sell out @ BTC2 as fast as they can ship them. Nothing is free, this isn't a get rich quick scheme for customers.
ATC
newbie
Activity: 49
Merit: 0
May 04, 2013, 08:45:19 PM
“Adding a LED which blinks when a share is found”

Is it a default set for the LED blinks?
Can I turn off the LED blinks?
Sometimes I don't like it blinks, but somethimes I like it so I can show it to my friends.

BTW, I will buy 10 if it prices at 1 Bitcoin.
As 2 Bitcoin, at most I can afford 1 USB.

hero member
Activity: 812
Merit: 505
The Last NXT Founder
May 04, 2013, 08:38:51 PM
I am going to buy so many of the sapphire batch...

edit: 2 btc wholesale? why so expensive???
sr. member
Activity: 322
Merit: 250
May 04, 2013, 08:22:54 PM
For ROI calculations, I ignore the exchange rate and use this simplified formula - It's not exact, but it's a quick way to do it:

Cost = 1.99 btc

Network Hash Rate = 78,000 Gh/s

My hash rate = .3 Gh/s

My Share of the Network = .3 / 78,000

Blocks found / day = 144

Block Reward = 25

Therefore, i will earn:

.3 / 78,000 * 144 * 25 = 0.013846154 BTC / day.

My ROI in days:

ROI (in days) = 1.99 / 0.013846154 = 144 days. about 4 3/4 months.

This doesn't consider an increase in network hash rate, which I estimate will cut profits in half every month until October. Considering difficulty increases the ROI is a little longer than 1 year.

This seems about right for retail cost, it seems a bit expensive at wholesale. Ideally, I'd like to see about a 1.5 btc wholesale cost.


If this key is not efficient enough ... what about all the GPUs that are a good proportion of the network ? ASIC is coming... but at what speed ? transition is not going to be quick. ASICMiner being the fastest, followed by DIY project for avalon chips. bfl ... is going to be soooo slow ...

there will be far more hashing powered added by asics than is taken from GPUs

keep in mind, mining litecoin / etc scrypt-coin, and simply trading them for BTC, has been consistantly more profitable than mining BTC for months now.  In fact i don't think it ever was NOT more profitable.
full member
Activity: 164
Merit: 100
May 04, 2013, 06:31:43 PM
For ROI calculations, I ignore the exchange rate and use this simplified formula - It's not exact, but it's a quick way to do it:

Cost = 1.99 btc

Network Hash Rate = 78,000 Gh/s

My hash rate = .3 Gh/s

My Share of the Network = .3 / 78,000

Blocks found / day = 144

Block Reward = 25

Therefore, i will earn:

.3 / 78,000 * 144 * 25 = 0.013846154 BTC / day.

My ROI in days:

ROI (in days) = 1.99 / 0.013846154 = 144 days. about 4 3/4 months.

This doesn't consider an increase in network hash rate, which I estimate will cut profits in half every month until October. Considering difficulty increases the ROI is a little longer than 1 year.

This seems about right for retail cost, it seems a bit expensive at wholesale. Ideally, I'd like to see about a 1.5 btc wholesale cost.


If this key is not efficient enough ... what about all the GPUs that are a good proportion of the network ? ASIC is coming... but at what speed ? transition is not going to be quick. ASICMiner being the fastest, followed by DIY project for avalon chips. bfl ... is going to be soooo slow ...
sr. member
Activity: 351
Merit: 250
May 04, 2013, 06:28:48 PM

Difficulty was estimated to be 70 million by the end of july even without these.

By whom?? How many pre-ordered BFL singles and mini-rigs does that take in to account... and how many do you think will actually be hashing by then?

Exactly! You don't know what the future difficulty will bring, you just know that it'll be more (how many new companies that we haven't even heard of will release new products?)

So start with some estimate, say 1 year ROI and then add whatever you want on top of it. A 2 year or longer ROI seems within the realm of possibility.
legendary
Activity: 966
Merit: 1000
May 04, 2013, 06:12:14 PM
What are the dimensions of the PCB?

It looks like about 20 x 40mm in the image.
member
Activity: 77
Merit: 10
May 04, 2013, 06:08:58 PM
2BTC for 300MH is still too much, even for the average geek who are not expected to be too deep into mining... 2BTC is 200 bucks for a tiny 300mh unit.

Its about the same price/performance as 7970.
1 * 7970 $400 = 700MH
2 * Block Erupter $ 440 = 700MH

Now think about a miner with 4 * 7970. It consumes over 1000W. You need 8 * Block Erupter to reach the same speed, but the power consumption is way under 1/10. Same goes for power consumption and heat...

But the same doesn't go for resell value.
member
Activity: 77
Merit: 10
May 04, 2013, 06:02:17 PM
...
At 1.99 BTC, and a conservative estimate of 20M difficulty over the next year, it will take me 352 days to recoup the 1.99 BTC cost.

It difficulty averages 40M during that time, it will take two years to recoup your investment.


I love the bitcoin investment community, where a 2yr payback is considered terrible... Most investments are no-brainer good deals if the payback is under 10yrs, without lots of risk.

There's obviously plenty of exchange-rate risk with bitcoin, but who cares since these are fully denominated in btc.

The real risk is that difficulty rises faster than you assume, which I think is a distinct possibility.

Please list companies that are willing to invest money into cryptocoin projects with payback in, say 6 years.
legendary
Activity: 1666
Merit: 1185
dogiecoin.com
May 04, 2013, 05:58:52 PM
I don't see this making sense for consumers, only ASICMiner
....
Total realistic ROI of 140% after 2 years.


Put that into perspective. If you were to buy stock of a mature company (zero growth potential) that just paid out say, an 8% dividend, that'd probably be considered a really good deal. And it would take more than 12 years to get 100% ROI.

These devices seem nicely priced. Yes, it's aggressive relative to ROI numbers that have been achieved in the past with some bitcoin investments, but you guys have to acknowledge that the space is maturing, and that means longer payback periods (but hopefully less risk too). Furthermore, AM delivers; the risk with them is one of the lowest in the bictoin space.

So, while I wish they were cheaper for selfish reasons, I do think they'll sell at this price. If not, I'm sure AM will drop the price until they do sell.

But compare the level of risk involved, the accountability and security. All cryptocurrencies - regardless of what we all want to believe - still can become relatively worthless overnight.
legendary
Activity: 1148
Merit: 1018
May 04, 2013, 05:50:03 PM
2BTC for 300MH is still too much, even for the average geek who are not expected to be too deep into mining... 2BTC is 200 bucks for a tiny 300mh unit.

If it was 30 or 40 bucks for 300MH, then that would make more sense, for the casual user and those who want to really get into mining. I don't expect some random kid with a macbookpro to drop 200-300bucks for something like this.

I think there will be buyers even at that price in the very short term, just because of the novelty and the bleeding edge factor.

Anyhow, I still think this things with MASSIVE distribution at $40ish could be HUGE for Bitcoin. It would be spreading pills of monetary freedom, it could be a revolution.

That would be a revolution of sorts... it would be a company giving away money for free.

That would work magic to drive people into bitcoin... Imagine the marketing you could do in the distribution of that tool at that price...
member
Activity: 72
Merit: 10
May 04, 2013, 05:49:44 PM
For ROI calculations, I ignore the exchange rate and use this simplified formula - It's not exact, but it's a quick way to do it:

Cost = 1.99 btc

Network Hash Rate = 78,000 Gh/s

My hash rate = .3 Gh/s

My Share of the Network = .3 / 78,000

Blocks found / day = 144

Block Reward = 25

Therefore, i will earn:

.3 / 78,000 * 144 * 25 = 0.013846154 BTC / day.

My ROI in days:

ROI (in days) = 1.99 / 0.013846154 = 144 days. about 4 3/4 months.

This doesn't consider an increase in network hash rate, which I estimate will cut profits in half every month until October. Considering difficulty increases the ROI is a little longer than 1 year.

This seems about right for retail cost, it seems a bit expensive at wholesale. Ideally, I'd like to see about a 1.5 btc wholesale cost.


Difficulty was estimated to be 70 million by the end of july even without these.

By whom?? How many pre-ordered BFL singles and mini-rigs does that take in to account... and how many do you think will actually be hashing by then?
member
Activity: 72
Merit: 10
May 04, 2013, 05:47:38 PM
2BTC for 300MH is still too much, even for the average geek who are not expected to be too deep into mining... 2BTC is 200 bucks for a tiny 300mh unit.

If it was 30 or 40 bucks for 300MH, then that would make more sense, for the casual user and those who want to really get into mining. I don't expect some random kid with a macbookpro to drop 200-300bucks for something like this.

I think there will be buyers even at that price in the very short term, just because of the novelty and the bleeding edge factor.

Anyhow, I still think this things with MASSIVE distribution at $40ish could be HUGE for Bitcoin. It would be spreading pills of monetary freedom, it could be a revolution.

That would be a revolution of sorts... it would be a company giving away money for free.
legendary
Activity: 1148
Merit: 1018
May 04, 2013, 05:43:04 PM
2BTC for 300MH is still too much, even for the average geek who are not expected to be too deep into mining... 2BTC is 200 bucks for a tiny 300mh unit.

If it was 30 or 40 bucks for 300MH, then that would make more sense, for the casual user and those who want to really get into mining. I don't expect some random kid with a macbookpro to drop 200-300bucks for something like this.

I think there will be buyers even at that price in the very short term, just because of the novelty and the bleeding edge factor.

Anyhow, I still think this things with MASSIVE distribution at $40ish could be HUGE for Bitcoin. It would be spreading pills of monetary freedom, it could be a revolution.
sr. member
Activity: 322
Merit: 250
May 04, 2013, 05:40:12 PM
For ROI calculations, I ignore the exchange rate and use this simplified formula - It's not exact, but it's a quick way to do it:

Cost = 1.99 btc

Network Hash Rate = 78,000 Gh/s

My hash rate = .3 Gh/s

My Share of the Network = .3 / 78,000

Blocks found / day = 144

Block Reward = 25

Therefore, i will earn:

.3 / 78,000 * 144 * 25 = 0.013846154 BTC / day.

My ROI in days:

ROI (in days) = 1.99 / 0.013846154 = 144 days. about 4 3/4 months.

This doesn't consider an increase in network hash rate, which I estimate will cut profits in half every month until October. Considering difficulty increases the ROI is a little longer than 1 year.

This seems about right for retail cost, it seems a bit expensive at wholesale. Ideally, I'd like to see about a 1.5 btc wholesale cost.


Difficulty was estimated to be 70 million by the end of july even without these.
newbie
Activity: 34
Merit: 0
May 04, 2013, 05:35:32 PM
2BTC for 300MH is still too much, even for the average geek who are not expected to be too deep into mining... 2BTC is 200 bucks for a tiny 300mh unit.

Its about the same price/performance as 7970.
1 * 7970 $400 = 700MH
2 * Block Erupter $ 440 = 700MH

Now think about a miner with 4 * 7970. It consumes over 1000W. You need 8 * Block Erupter to reach the same speed, but the power consumption is way under 1/10. Same goes for power consumption and heat...
legendary
Activity: 1778
Merit: 1008
May 04, 2013, 05:21:09 PM

This seems about right for retail cost, it seems a bit expensive at wholesale. Ideally, I'd like to see about a 1.5 btc wholesale cost.


Can we get ASICminer to comment on either lowering the bulk 300 price or shipping small orders directly to users?

they're probably barely waking, if at all. timezones and such.


to anyone in the US or canada looking for a group buy, see my thread. https://bitcointalksearch.org/topic/asicminer-usb-group-buy-orders-closed-pay-for-extra-195052

for europe, see this thread: https://bitcointalksearch.org/topic/gb-usb-asic-miner-closed-and-completed-195037
legendary
Activity: 2772
Merit: 1028
Duelbits.com
May 04, 2013, 05:16:59 PM
Cool device to have as collectable item. If I had lot of coins I'd definitely buy one for myself.

Out of that, who in the right mind would pay that money for it..

Quote
These are the devices that are going to keep Bitcoin decentralized. If we end up with ASICMINER doing all the hashing themselves, maybe competing with a few other massive farms, the entire P2P concept is out the window.

These allow the average user to keep mining Bitcoin with their personal computers. Selling 10,000 of these will put 3,000,000 MH/s back in the hands of the small-time miners and hobbyists, and more importantly keep them out of the hands of centralized farms and large corporations. BTC will be almost useless if all the mining becomes centralized.

Lol, people can buy graphic card at same dollar/mhash point and keep the bitcoin mining decentralized yet they all or most of them got away from mining bitcoins with cards weeks ago. And card at least have some other use too and can be sold.

It's pathetic price and only who could defend it are those who usually defend AM prices - their shareholders. And even more pathetic than price is when they try to convince people it's cool and bargain with pathetic arguments like one I've quoted above.



legendary
Activity: 966
Merit: 1000
May 04, 2013, 05:16:03 PM
People who think that an investment paying off in 10-12 months is terrible are delusional.

This right here.

Sometimes I think some of these ppl have never been off the internet and seen what things are like in the real world.
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