Are ASICs really worth the investment? - page 2.

Flep182

legendary

Activity: 938

Merit: 1007

Quote from: TheQuin on October 12, 2017, 02:31:37 AM

But even getting lucky with the timing like that I would have actually made a bigger profit if I had just bought BTC rather than buying the ASICS.

I've made a loss on the miners I bought, unless I correct for raising BTC rates. Which I shouldn't factor in, as buy and hold back them would've made me a LOT more by now

TheQuin

hero member

Activity: 2576

Merit: 883

Freebitco.in Support https://bit.ly/2I9BVS2

Quote from: Flep182 on October 12, 2017, 02:22:34 AM

I'm going to save this quote, as it's a good answer to a lot of recurring questions. Probably you've also got it in a textfile lurking around, right? Wink

Yes, there isn't much more to add to that.
So I'll just say that my personal experience of mining back when ASICS first came out was that I did actually turn a profit. That was based on getting the equipment cheap through group buys on this forum and also then getting a bit lucky. After mining for a while and gradually getting less BTC as the difficulty shot up, then the BTC price rocketed as well. I realised I would get far more selling them on Ebay than I ever could continuing to mine.
But even getting lucky with the timing like that I would have actually made a bigger profit if I had just bought BTC rather than buying the ASICS.

Flep182

legendary

Activity: 938

Merit: 1007

Quote from: xxcsu on October 12, 2017, 02:05:02 AM

Quote from: Oakey22 on October 12, 2017, 12:09:41 AM

Keep thinking of buying ASICS but my worry is that they are a one trick pony compared to say a GPU that I can mine multiple coins and has resale value.

Are they profitable with average electricity costs?

Quote from: xxcsu on September 26, 2017, 11:36:37 AM

I DONT UNDERSTAND WHY NEWBIES KEEP ASKING THE SAME QUESTION " ITS TO LATE TO START MINING , IT IS STILL PROFITABLE ?"

No one can tell you !
Always going to be a 2 group of ppl who telling you it's ok go for it , or dont bc you just wasting ur money !
You have to make a decision for yourself !
Do your own research !
No one can tell you for sure what's going to happen with cryptocurrency !
No one can tell you it's going to be profitable for you or not !
No one can tell you how much profit you going to be able to make ! ( if you can make any at all )
No one can tell you the ROI ( return of investment) time !
None of those calculators you are seeing on the web can tell you what's coming tomorrow , months later or 6 months later !
Those calculators telling you about today , at that moment when you typing in your information !
It's little bit of gambling , you must to decide you want to play on the lottery or not Grin

YES some of us got lucky , made some money with mining
YES some of us got unlucky , lost some money , bc when price started to fall , sold the coins , miners

I'm going to save this quote, as it's a good answer to a lot of recurring questions. Probably you've also got it in a textfile lurking around, right? Wink

Miner4ever

full member

Activity: 168

Merit: 101

Quote from: Oakey22 on October 12, 2017, 12:09:41 AM

Keep thinking of buying ASICS but my worry is that they are a one trick pony compared to say a GPU that I can mine multiple coins and has resale value.

Are they profitable with average electricity costs?

Asic also can mine lots of coins and algos.
For example baikal asic miner who can mine x11, x13, x15, quark, qubit algos.
And there is lots of coins on some asic algos, like scrypt, sh256 etc
But if you are new in mining world and need first to learn what is what then
better to go on one gpu mining rig for educational purposes.

NoxX

sr. member

Activity: 462

Merit: 252

Quote from: Oakey22 on October 12, 2017, 12:09:41 AM

Keep thinking of buying ASICS but my worry is that they are a one trick pony compared to say a GPU that I can mine multiple coins and has resale value.

Are they profitable with average electricity costs?

ASICs also have resale value, but unlike GPUs timing matters a lot more.

Best case scenario: You buy a newly released ASIC straight from the manufacturer in China without insane markup from a reseller, mine a few months and resell it on eBay.

Worst case scenario: You buy an outdated ASIC from a reseller at 200+% markup. You mine longer than it's profitable and can't sell it afterwards because no one wants it anymore.

Of course, everyone wants to get the best case, so it is notoriously hard to get ASICs from the manufacturers right when they are released. Unless you have connections to China, or buy in large quantities, it might be impossible...

xxcsu

hero member

Activity: 1498

Merit: 597

Quote from: Oakey22 on October 12, 2017, 12:09:41 AM

Keep thinking of buying ASICS but my worry is that they are a one trick pony compared to say a GPU that I can mine multiple coins and has resale value.

Are they profitable with average electricity costs?

Quote from: xxcsu on September 26, 2017, 11:36:37 AM

I DONT UNDERSTAND WHY NEWBIES KEEP ASKING THE SAME QUESTION " ITS TO LATE TO START MINING , IT IS STILL PROFITABLE ?"

No one can tell you !
Always going to be a 2 group of ppl who telling you it's ok go for it , or dont bc you just wasting ur money !
You have to make a decision for yourself !
Do your own research !
No one can tell you for sure what's going to happen with cryptocurrency !
No one can tell you it's going to be profitable for you or not !
No one can tell you how much profit you going to be able to make ! ( if you can make any at all )
No one can tell you the ROI ( return of investment) time !
None of those calculators you are seeing on the web can tell you what's coming tomorrow , months later or 6 months later !
Those calculators telling you about today , at that moment when you typing in your information !
It's little bit of gambling , you must to decide you want to play on the lottery or not Grin

YES some of us got lucky , made some money with mining
YES some of us got unlucky , lost some money , bc when price started to fall , sold the coins , miners

0xcosmos

full member

Activity: 585

Merit: 110

Quote from: Oakey22 on October 12, 2017, 12:09:41 AM

Keep thinking of buying ASICS but my worry is that they are a one trick pony compared to say a GPU that I can mine multiple coins and has resale value.

Are they profitable with average electricity costs?

depends on lot of factors
get the lastest model quick and at given price from supplier
will be very profitable
but then difficulty, electricity, stock issues, overpriced third party suppliers
many factors come in
do research & if its profitable for ya
go for it

Tomynho

newbie

Activity: 76

Merit: 0

horrible, too many ppl in mining, diffs go up like there is no tomorrow.

bathrobehero

legendary

Activity: 2002

Merit: 1051

ICO? Not even once.

Only if you get them very early.

Just look at the difficulty chart of Dash: https://bitinfocharts.com/comparison/dash-difficulty.html

People only just receiving their ASICs likely won't get ROI.

Oakey22

sr. member

Activity: 488

Merit: 322

Keep thinking of buying ASICS but my worry is that they are a one trick pony compared to say a GPU that I can mine multiple coins and has resale value.

Are they profitable with average electricity costs?

Topic: Are ASICs really worth the investment? - page 2. (Read 757 times)