Pages:
Author

Topic: Are any ASIC miners making ROI anymore? - page 3. (Read 4505 times)

sr. member
Activity: 248
Merit: 250
No slashka, there's nothing to think about there.  You and the person who told you that.  There's either one or two idiots there, Im not sure who it is yet..... Roll Eyes
But the mining hardware, when it's working is pretty funny Smiley as usb antminers Smiley "when fun > ROI"
hero member
Activity: 955
Merit: 1004
No slashka, there's nothing to think about there.  You and the person who told you that.  There's either one or two idiots there, Im not sure who it is yet..... Roll Eyes
legendary
Activity: 3094
Merit: 2239
I fix broken miners. And make holes in teeth :-)
That sounds pretty silly.

C
sr. member
Activity: 248
Merit: 250
About ASICs. Somenone told here in a forum that an ASIC is more profitable then a simple car. If BTC is your hobby and you can use the city transport, then you can buy ASIC instead of a car. Such a comparison I heard here... Don't know if it's a tottaly true, but there is something abount to think...
hero member
Activity: 784
Merit: 1004
Glow Stick Dance!
Ordered 4 Jally's in June 2013 totalling 1096 USD. Could 've bought 8 BTC for that, which would now be worth over 5000 USD.

Think the little shits have mined maybe 0.5 BTC (bad power supplies, cubes going 'dead' or 'sick' all the time)...not sure exactly, as some of it was other SHA coins. So unless BTC suddenly becomes 15x more valuable, no. I will not buy ASICs again and wish I never had.

I think this post really underlines that in today's environment mining is simply buying bitcoins a different way.  It was one thing a couple of years ago when you could just point your gaming GPU at bitcoins and make some extra money.  But with the rise of ASICS those days are all gone.  By mining I guess your coins are also a bit more anonymous but you are still basically relying on a price move up to make it profitable.

Honestly, if it wasn't for mining, I'd have ZERO interest in BTC today. After @home mining is dead, I might keep a few BTC in a wallet for shits-n-giggles. But I'm certainly never going to buy another BTC on an exchange under any circumstances.

Is the end of @home mining the end of BTC? Maybe.
legendary
Activity: 3094
Merit: 2239
I fix broken miners. And make holes in teeth :-)
450 BTC?  Over $450,000 at peak price.  $280,350 at todays prices.  Damn, they gave it to you hard!  Hope they used Vaseline!  Look at those two boxes and think "$280,000 dollars, $280,000 dollars, $280,000 dollars........

Bad thinking: They weren't worth anything back then. It's the 10,000 bitcoin for a pizza argument, that's what they were worth then, this is what they are worth now.

Quote
Lightfoot - you've got to have an angle.  You've got to find a way to get over on the system.  If all you are going to do with BTC is accept them for purchases just like cash, then how do you get ahead of the game like that?  How do you end up with more BTC value than cash value?  Only if the BTC price spikes after you have the BTCs.
*Exactly*! Simply mining is not going to make profits, what you need to do is have an angle that adds value.

What I did was take my little single, use my skills on SMD rework, and added 3 chips. Bingo, had a 20gh miner in November. That helped. Then I did the same thing for other people, charging them a bit but never more than what it was worth plus something. People were happy. Then others who had chips marked them way up. Bye bye business, now they are sitting on a lot of worthless chips :-)

Note: It never pays to be too greedy.

Other people brought hosted locations with extra power to the table. Some brought that cool water cooling or immersion techniques to cool the 110nm blades. Those ideas added value.

So the question is what value are you bringing to the community? Figure that out and there is your profit.

I really should work on other miners or something. Or fix more pocket watches for Bitcoin.
hero member
Activity: 955
Merit: 1004
450 BTC?  Over $450,000 at peak price.  $280,350 at todays prices.  Damn, they gave it to you hard!  Hope they used Vaseline!  Look at those two boxes and think "$280,000 dollars, $280,000 dollars, $280,000 dollars........

Might as well turn them back on and let them run, what do you have to lose at this point?

A friend of mine wants to try mining.  I told him not to BUY an ASIC.  PM me for his address.  You pay shipping.  

Lightfoot - you've got to have an angle.  You've got to find a way to get over on the system.  If all you are going to do with BTC is accept them for purchases just like cash, then how do you get ahead of the game like that?  How do you end up with more BTC value than cash value?  Only if the BTC price spikes after you have the BTCs.
legendary
Activity: 1400
Merit: 1005
Bought 2 BFL 60GH/s ASICs on June 23 2011.  Paid 450 BTC.  They've not even generated half that, and I turned them off a month ago because they stopped making enough to cover electric costs.  1/10 would not buy again.
legendary
Activity: 3094
Merit: 2239
I fix broken miners. And make holes in teeth :-)
The problem is quite simple: Bitcoin is a perfect market for mining. Therefore it is *impossible* to make a profit in the traditional sense of the word. Yes you can make money for awhile, but true profits are not possible due to the nature of the protocol and the low cost of entry.

It is a queen's race. Provide services and use bitcoin for what it should be: transactions.

C
hero member
Activity: 519
Merit: 500
And what happens if your power isn't free?  Like for most people?

Then you just made the hardware manufacturer ROI  Cheesy

They build a miner for $200 and sell it for $600, they just made a 3x profit (maybe more if they "test mine")
hero member
Activity: 955
Merit: 1004
And what happens if your power isn't free?  Like for most people?
newbie
Activity: 45
Merit: 0
If your power is free you ROI  Wink
hero member
Activity: 955
Merit: 1004
You cannot be optimistic on ASICs.  There is only room for pessimism.

The ASIC makers build them and mine with them until their productivity slows down, then they announce the "new bigger better faster" ASIC model, and sell those very ASICs that they just determined were no longer profitable!

Does no one see this but me?  This is exactly what I would do if I owned an ASIC company!  It is all about making money, and if I could mine with ASICs until their rate of return dropped off and then sell my now-obsolete miners to a bunch of dumbasses and claim it was the newest fastest model, I certainly would!

The math does not lie, you cannot ROI with any new ASIC!  And what if BTC price drops?  Then where does that leave you?

STOP BUYING ASICS!!!!!  You are throwing your money away!

Throw some BTC to ME if you must!  I need it to help pay for my wedding in October!

My BTC address --->  12eBRzZ37XaWZsetusHtbcRrUS3rRDGyUJ


sr. member
Activity: 394
Merit: 250
Yes, if the difficulty increment slow down like this time..
legendary
Activity: 2982
Merit: 4193
ASIC companies wouldn't sell their ASICs if it was more profitable for them to mine with them, lol.

The sole exceptions being the very first startups that needed funding to begin R&D and manufacturing of ASICs (i.e. Avalon batch 1, somewhat for batch 2, then batch 3 was nonsense, like all the rest)

Agree, but lets be alittle optimistic and hope that the difficulty slow down which the ASIC companies didn't expect. Then there might be a profit.
Difficulty slowing down is close to impossible though, most ASIC companies are developing better and better ASICs and big miners with super low electricity cost is coming in the game.
member
Activity: 112
Merit: 10
ASIC companies wouldn't sell their ASICs if it was more profitable for them to mine with them, lol.

The sole exceptions being the very first startups that needed funding to begin R&D and manufacturing of ASICs (i.e. Avalon batch 1, somewhat for batch 2, then batch 3 was nonsense, like all the rest)

Agree, but lets be alittle optimistic and hope that the difficulty slow down which the ASIC companies didn't expect. Then there might be a profit.
zvs
legendary
Activity: 1680
Merit: 1000
https://web.archive.org/web/*/nogleg.com
ASIC companies wouldn't sell their ASICs if it was more profitable for them to mine with them, lol.

The sole exceptions being the very first startups that needed funding to begin R&D and manufacturing of ASICs (i.e. Avalon batch 1, somewhat for batch 2, then batch 3 was nonsense, like all the rest)
member
Activity: 70
Merit: 10
ASIC manufacters will always have profits and ROI from the asicminers.
hero member
Activity: 784
Merit: 1004
Glow Stick Dance!
And, people keep thinking that if they buy the bigger better faster ASIC, they will make money or even get their ROI back.

When in reality, all they are doing is making the difficulty rise even faster, thus reducing the rate of ROI for them and everyone else trying to mine BTC.

People need to just STOP buying ASICs altogether!

If you are that dead set on throwing your money away, just send it to me.

My BTC address --->  12eBRzZ37XaWZsetusHtbcRrUS3rRDGyUJ

"People" mining isn't the real problem. It's people buying miners from corporations who then use the profits to fund massive mining operations.

The home/hobbyist miner is nearly insignificant in the grand scheme of things. We simply do not have the economies of scale and the access to cheap mining gear that large-scale mining operations have. We are all doomed to obscurity in just a few short months.
hero member
Activity: 955
Merit: 1004
And, people keep thinking that if they buy the bigger better faster ASIC, they will make money or even get their ROI back.

When in reality, all they are doing is making the difficulty rise even faster, thus reducing the rate of ROI for them and everyone else trying to mine BTC.

People need to just STOP buying ASICs altogether!

If you are that dead set on throwing your money away, just send it to me.

My BTC address --->  12eBRzZ37XaWZsetusHtbcRrUS3rRDGyUJ
Pages:
Jump to: