Are ASIC's worth the investment? | Bitcointalksearch.org

Fuzzy

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Quote from: Aahzman on February 20, 2013, 01:44:12 PM

Quote from: MajorMiner1 on February 14, 2013, 02:05:24 PM

My friend pre-ordered a 1.5ths rig from bfl in june 2012 for 4300 btc at 7$.... lol

his 4300btc today is now worth 113950$... He's got alot of mining to do, to make that back...

yeah, if he cancels his pre-order, he only gets $30k worth of BTC back (or about 1000).

Quote from: Fuzzy on February 20, 2013, 01:31:43 PM

If he want's to cancel, he would be better off re-selling his place in line.

If you order a Mini Rig today, you'll be at LEAST 3 months behind anyone who ordered in June. He'll probably make it all back in that time period.

Aahzman

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Your *what* is itchy?

Quote from: MajorMiner1 on February 14, 2013, 02:05:24 PM

My friend pre-ordered a 1.5ths rig from bfl in june 2012 for 4300 btc at 7$.... lol

his 4300btc today is now worth 113950$... He's got alot of mining to do, to make that back...

yeah, if he cancels his pre-order, he only gets $30k worth of BTC back (or about 1000).

Quote from: Fuzzy on February 20, 2013, 01:31:43 PM

No

~~Yes~~

Maybe

+1

Fuzzy

hero member

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No

~~Yes~~

Maybe

veteranBtc

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Quote from: MajorMiner1 on February 14, 2013, 02:05:24 PM

My friend pre-ordered a 1.5ths rig from bfl in june 2012 for 4300 btc at 7$.... lol

his 4300btc today is now worth 113950$... He's got alot of mining to do, to make that back...

That's crazy!

Skrivitor

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I say yes and no. Which is a terrible answer.

Yes ASIC is worth it if you are interested in promoting Bitcoin and working in the Bitcoin ecosystem.

No, ASIC is not worth the investment if you plan to make a living from it.

Viva Bitcoin.

dpanter

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I say No.

milly6

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Quote from: rilesbriles on February 05, 2013, 11:22:35 AM

I have done quite a bit of research on these ASIC's that Butterfly Labs is going to release here soon and my number one question is "Is it worth it?" Right now I am thinking yes. I believe that during the beginning phases of releasing these units will 1.) be beneficial to people who preorder and 2.) make the difficulty of mining sky rocket for those who do not own ASIC's. I am curious on what everyone else thoughts are on this.

As long as they come out they seem very much worth it at least for a while

sounds

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1221iZanNi5igK7oAA7AWmYjpsyjsRbLLZ

Exactly.

Every purchase is a tradeoff of lost opportunities. (Known as "opportunity cost")

Buying an ASIC might seem simple, but currently there aren't that many ASICs available. This complicates things.

Even speculating on the exchange rate of BTC to fiat currency is "not simple." Everything has a tradeoff.

MajorMiner1

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My friend pre-ordered a 1.5ths rig from bfl in june 2012 for 4300 btc at 7$.... lol

his 4300btc today is now worth 113950$... He's got alot of mining to do, to make that back...

skeeterskeeter

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I think the real question is when is someone going to find a polynomial time algorithm for hashing? I know I'm pretty close, I got out a piece of paper and pencil and started writing "down with exponentiation! down with ASIC's!"

bigmint

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ASICs are worth the investment if you believe that the current fiat monetary system is doomed to collapse (or atleast instability that you can profit from). Consider that bitcoin is only scratching the surface of its potential for use. In 5 to 10 years, I believe the BTC will have a value in the hundreds if not thousands of USD.

This potential for growth is huge. Get in now while you can - before the rest of the world catches up.

JM2C

bigmint

dleonardi

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I am willing to trade 1OZ of 99.9999 gold for a BFL preorder dating at max to oct 2012 .
If interested contact me by PM!

Gestas

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BFL is vaporware, you really think a common con man is going to deliver you a real product?

Luno

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There is another way of looking at this:

We all benefit from others buying ASIC's, it's like another halving coming soon. Yes I do know that the coins mined/day are just the same, but ASIC miners also know that they for a time have some monopoly status in the Bitcoin production business!!

The rest of us are scared of departing from our last mined unsold coins!

rilesbriles

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Thanks for the awesome replies guys! I thought you would all find this interesting for those of you who are curious about shipping.

(UPDATE)
Butterfly Labs:
"Because of the potential for massive disruption that our ASIC units may cause to the mining ecosystem, we are instituting a 1/3 shipping method for our first shipment of products to individuals. So that no single person or handful of people are able to gain a material advantage over any other, we will ship all our available units at the same time to as many customers as we can. This means we will likely delay shipping on our first units until we have accumulated enough stock to satisfy a significant portion of our initial orders. This ensures that as many people as possible who are early adopters are equally and fairly treated when receiving our product. To that end we will be shipping our first orders as such: 1/3 of each product line (Jalapeno, Single SC and Minirig SC) will be shipping to new orders, 1/3 to upgrade orders and the final 1/3 will be shipped to a random selection of orders from the first two categories (both upgrade and new customers) received in the first month of orders (From 23 June 2012 to 22 July 2012)."

kworrom

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I am thinking about buying a BFL Jalapeno, but just for fun. In my eyes the lower ASIC models like the Jalapeno don't seem to be worth the investment, but the higher powered models seem like they will at least break even over time. I mean, if you have the disposable income, why not?

bitcoinget

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Quote from: bitResearch on February 10, 2013, 12:09:39 PM

If were lucky enough to get an initial ASIC from Avalon or order one from their second batch it is a good investment, but after that it is going to become an increasingly bad investment.

One of the first to get his hands on an Avalon tweeted that has it has already paid for itself (in 9 days i believe).

https://twitter.com/jgarzik/status/300138033590718464

bitResearch

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If were lucky enough to get an initial ASIC from Avalon or order one from their second batch it is a good investment, but after that it is going to become an increasingly bad investment.

Rarrikins

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Quote from: Bitsaurus on February 10, 2013, 06:56:36 AM

With ASIC however, once somebody buys that dedicated hasher it's on the network permanently. People are unlikely to retask the ASIC units for any other purpose, so difficulty will only go up from here on, never down.

I think some will be taken down due to power and maintenance eventually costing more than income, especially for the larger units.

Beyondo

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So if I place an order with the BFL company today I would be unlucky? No hope of seeing a good return?

Topic: Are ASIC's worth the investment? (Read 2550 times)