Topic: ASIC MINERS 101 - NO ROI - OVERSOLD TO MARKET - POOR PROFIT - SCAMMERS (Read 986 times)
December 10, 2018, 12:48:50 PM
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July 03, 2018, 12:46:10 AM
This thread is 4 pages of pure comedy gold. The bottom line is if you don't believe in asics or think they are a waste of money, don't buy one. If you are not fully educated on mining you have no business sending $2000+ worth of bitcoin(cash) to some company in China for them to send you a loud and hot machine that has a 6 month warranty. I mean truly the people who got burned have no one to blame but themselves. Bitmain has numerous warnings on their site about profitability. The only thing they guarantee is that it will mine at a certain hashrate and work for 6 months. If it took 10 machines for OP to realize it was a bad investment then I don't know what to say. I do know in November if you owned a S9 you were making money. Funny how when the market is down people blame bitmain instead of themselves.
yup keep buying asics, might as well flush your btc down the drainalready with no forks and the z9 is making 50 percent of what it made two weeks ago
B3 dead , X3 dead 💀
go on with ur bad selves 😂😂
July 02, 2018, 11:40:16 PM
This thread is 4 pages of pure comedy gold. The bottom line is if you don't believe in asics or think they are a waste of money, don't buy one. If you are not fully educated on mining you have no business sending $2000+ worth of bitcoin(cash) to some company in China for them to send you a loud and hot machine that has a 6 month warranty. I mean truly the people who got burned have no one to blame but themselves. Bitmain has numerous warnings on their site about profitability. The only thing they guarantee is that it will mine at a certain hashrate and work for 6 months. If it took 10 machines for OP to realize it was a bad investment then I don't know what to say. I do know in November if you owned a S9 you were making money. Funny how when the market is down people blame bitmain instead of themselves.
July 02, 2018, 09:24:57 PM
A crazy theory came to my mind, after last months that we saw that Chinese company's have secret Asic for almost all coins that we were mining on GPU's+ the best miners for Asic algos(they only sell older tech), could it be that CHINA is mining over 50% of all the coins and then selling those virtual Coins to rest of the world for REAL money and increasing the Countries INCOME of Euro/USD etc? (foreign currency income)
Just a crazy theory that came to my mind last month... :-).
Just a crazy theory that came to my mind last month... :-).
Here is what is crazy about your theory: Until the Chinese government cracked down on crypto exchanges, stunning amounts of Renminbi were being converted to BTC as * a way of getting around capital controls * -- meaning rich, well-connected people were getting as much wealth out of the country as possible using BTC so that their wealth could not be easily seized by their own government, if that day ever came around.
Hell, I used to stare at fiatleak.com till the wee hours watching those gargantuan streams coming out of China. It was hard to wrap your head around the real time flows coming out of China.
They were dumping their currency for BTC.
While your theory has a certain logic, the PRC government hasn't exactly been too friendly to miners lately either. If this were some vast Chinese conspiracy, you'd think they would be offering loans and incentives to every Tom, Dick, and Harry that wanted to open a mine.
The other thing you have to keep in mind about large governments and large corporations, more often than not, what is seen as some evil, deliberate conspiracy is just as often the result of incompetence.
July 02, 2018, 06:02:11 PM
ASIC manufacturers do not care about cryptocurrencies technology, neither markets, the only one concern of these enterprises it is to make money. They do not care if they destroys coins, algos, markets. They develop ASIC devices, use it in secrecy (For community, for Devs no sometimes), and finally sold these devices as "new", but then and only after then, mine coins with it, take huge profit (Destroying coins, markets), also then recover the units cost and make another additional profit, with fools that buy these ASIC, but when start to mining it is too late to make profit, even no factible.
The problems with ASICs, aint ASICs, it is the monopoly behind it.
The problems with ASICs, aint ASICs, it is the monopoly behind it.
June 14, 2018, 10:57:52 PM
Don't be surprised if in the near future Nvidia and AMD stop releasing the latest GPU's to the public if they can make more money then they would selling it. As soon as they make the first big leap in GPU technology they will setup mining farms of their own and then sell used stuff to everyone just like all the ASIC companies.
Won't happen at the scale that Bitmain mines, unless the value proposition is insane. Nvidia and AMD are public and I think their shareholders would freak out on this idea outside of a test. It would also cause a huge reputational hit among their customer base, which is still majority AI and gaming, rather than mining.
June 14, 2018, 02:27:23 PM
Believe it or not but the entire development with ever more efficient hardware was anticipated already when Bitcoin was conceived.
POW is incentive based with greed as the driving mechanism and that is what makes it work. It's up to the blockchain projects to find technical solutions to problems with centralization. Social engineering as a solution can work short term but is not likely to work in the long run.
Luckily, it is comparatively easy and cheap to do software changes compared to develop new hardware. A blockchain project interested in keeping a certain type of hardware away should not have no problem doing so if there are competent developers.
POW is incentive based with greed as the driving mechanism and that is what makes it work. It's up to the blockchain projects to find technical solutions to problems with centralization. Social engineering as a solution can work short term but is not likely to work in the long run.
Luckily, it is comparatively easy and cheap to do software changes compared to develop new hardware. A blockchain project interested in keeping a certain type of hardware away should not have no problem doing so if there are competent developers.
June 14, 2018, 01:36:24 PM
Don't be surprised if in the near future Nvidia and AMD stop releasing the latest GPU's to the public if they can make more money then they would selling it. As soon as they make the first big leap in GPU technology they will setup mining farms of their own and then sell used stuff to everyone just like all the ASIC companies.
June 14, 2018, 08:45:18 AM
You know what I find funny about man. In nature an organism that consumes more than necessary is known to be cancer. But man when we do it we are called successful. We need to start seeing what this is for what it is. Those that grossly consume more than necessary wether that be wealth or resources should be treated as a cancer. NO? I’m seeing some massive monopolies forming seemingly unabated. Let me ask you all something. Would all the wealth be best if distributed amongst the many that can actually shop and keep businesses alive. Or should all the money be tied up in a couple people hands. How can they ever shop at all the stores. See what I mean. Having too much is a danger to society esp as we continue to grow as a population.
Best Regards
Doug
Best Regards
Doug
June 14, 2018, 07:04:35 AM
Why is the OP arguing with himself? Is this a post-count scam thread?
Can you not read or add up, of course not
<50 IQ reply from you... but with that ~IQ its the best you can I so no hard feelings.. / Ignore thicko
June 14, 2018, 07:03:34 AM
Why is the OP arguing with himself? Is this a post-count scam thread?
Good question...
Anyway - what an absurd topic. Dont like ASICs? Dont buy them and dont support the coins that they work on, though thats not really going to leave you much choice after a little while.
This topic has no chill for sure.
I also own both machines and GPUs, meh.
Show the evidence of me arguing with myself dumbass
June 14, 2018, 07:02:06 AM
God there are way too many stupid GPU miner fanboys on the forums. They don't realize asics are going to take over no matter what even if there are forks because you can't stop progress and technology. GPU mining will be near dead by the end of the year and only shitcoins will be what GPU's can mine. The bad thing is that anyone that makes Asics wont sell their money printing machines until they squeeze every last penny out of them. Obelisk is doing things the right way with their launchpad and I can't wait until they finally get the ball rolling for asics on every POW coin.
HEre we go people with brains at last...
Stupid GPU fan boys... abusing when i was attacking ASIC.. total idots on this thread.. well done Klwolf you understand english
June 14, 2018, 06:41:45 AM
they say yes to big farms , no to home mining ,
bitcoin is nice because you can do it at home, so it will become a business for few people with these rumurous and power consuming asics
bitcoin is nice because you can do it at home, so it will become a business for few people with these rumurous and power consuming asics
Yes basically put in the hands of a few people. Forking the code as they see fit. Maybe a chain roll back or two why not. ASICS our friends lmao. It’s the death of the original idea of crypto. Immutable chain that can’t be easily subverted. Your fucking ASICS ruined this idea Bitmain! I’m just glad we all see it now for what it is before anything important is put onto the blockchain. We need people we can trust. As long as their is money involved that is a huge issue. I mean huge. Money is the root of all evil. When you all wise up maybe you’ll come to this revelation. BR to you all in your get rich quick scheme. Really best of luck your gonna need it
June 14, 2018, 06:07:13 AM
they say yes to big farms , no to home mining ,
bitcoin is nice because you can do it at home, so it will become a business for few people with these rumurous and power consuming asics
bitcoin is nice because you can do it at home, so it will become a business for few people with these rumurous and power consuming asics
June 13, 2018, 06:46:09 PM
God there are way too many stupid GPU miner fanboys on the forums. They don't realize asics are going to take over no matter what even if there are forks because you can't stop progress and technology. GPU mining will be near dead by the end of the year and only shitcoins will be what GPU's can mine. The bad thing is that anyone that makes Asics wont sell their money printing machines until they squeeze every last penny out of them. Obelisk is doing things the right way with their launchpad and I can't wait until they finally get the ball rolling for asics on every POW coin.
lol. June 13, 2018, 05:39:10 PM
God there are way too many stupid GPU miner fanboys on the forums. They don't realize asics are going to take over no matter what even if there are forks because you can't stop progress and technology. GPU mining will be near dead by the end of the year and only shitcoins will be what GPU's can mine. The bad thing is that anyone that makes Asics wont sell their money printing machines until they squeeze every last penny out of them. Obelisk is doing things the right way with their launchpad and I can't wait until they finally get the ball rolling for asics on every POW coin.
June 13, 2018, 02:21:05 PM
Why is the OP arguing with himself? Is this a post-count scam thread?
Good question...
Anyway - what an absurd topic. Dont like ASICs? Dont buy them and dont support the coins that they work on, though thats not really going to leave you much choice after a little while.
This topic has no chill for sure.
I also own both machines and GPUs, meh.
June 13, 2018, 01:51:13 PM
Why is the OP arguing with himself? Is this a post-count scam thread?
June 13, 2018, 10:22:45 AM
With the intelligence you show here I highly doubt it. The only paycheck you see is your moms allowance
HAHAHAHAHAHAHAAHHA!!! och that hurt lol.. your a real pro
So easy to trigger. Waiting for you to buy next ASIC and come crying here. Making the popcorn as we speak.
crying ? are you stupid yes... my post was a warning people to not buy asic. YOU THICK BASTARD .. god what a tard.. you really are..
Carefull your head might explode at any moment. Might be messy. Btw loved your PM. Wanna marry me? Are you gay?
OH look another keyboard warrior Hard man.. go away you little pussy princess.. / IGNORE IQ < 50 bye
June 13, 2018, 10:02:43 AM
With the intelligence you show here I highly doubt it. The only paycheck you see is your moms allowance
HAHAHAHAHAHAHAAHHA!!! och that hurt lol.. your a real pro
So easy to trigger. Waiting for you to buy next ASIC and come crying here. Making the popcorn as we speak.
crying ? are you stupid yes... my post was a warning people to not buy asic. YOU THICK BASTARD .. god what a tard.. you really are..
Carefull your head might explode at any moment. Might be messy. Btw loved your PM. Wanna marry me? Are you gay?
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