Topic: ASIC MINERS 101 - NO ROI - OVERSOLD TO MARKET - POOR PROFIT - SCAMMERS (Read 991 times)

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yup keep buying asics, might as well flush your btc down the drain

already 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 😂😂

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.

Yes but I still think bitmain and the Chinese government have something going on they don't mess with bitmain and we all know they put kill switches in those miners. Also ppl all no whats up with asic how once they get their miner so is everyone else the difficulty sky rockets and profits crash than they all come here to bitch about it STOP GIVING YOUR MONEY AWAY if ppl stopped buying they wouldn't be making 12 billoin a year

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.

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.

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.

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.

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

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

Show the evidence of me arguing with myself dumbass

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

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

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

lol.

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.

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.

Why is the OP arguing with himself?  Is this a post-count scam thread?

OH look another keyboard warrior Hard man.. go away you little pussy princess.. / IGNORE IQ < 50 bye

Carefull your head might explode at any moment. Might be messy. Btw loved your PM. Wanna marry me? Are you gay?

Dollar is spelt with two L's mate...  thicko

sorry did you say something ? shame i cant see it... i know it will be some sort of abuse or thick low IQ comment anyway

your original reply

Your ignored "my very ignorant Friend"

You're IQ not equal many less < 50 my good friend

You are ignored "my very ignorant Friend"   AKA IQ 50

you are noob my friend.

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..

Peace at last...

treanski

Trust: -4: -2 / +0
Warning: Trade with extreme caution!

This user is currently ignored.

So easy to trigger. Waiting for you to buy next ASIC and come crying here. Making the popcorn as we speak.

HAHAHAHAHAHAHAAHHA!!! och that hurt lol.. your a real pro

With the intelligence you show here I highly doubt it. The only paycheck you see is your moms allowance

Ive lost nothing overall buddy I am over 400% up so please dont feel happy.

What a wonderfull person. You deserve every dolar lost. I hope you loose more to compensate for that wonderfull personality.

At last somone whos over, 10 thanks for your contribution mate

STFU mr scam untrustworthy thick little princess.      Please stop your IQ is to low to even communicate with me.. go stick you dick in your gpu's

Meanwhile outside the sandbox...

There are actually people working on solving the problems with ASICs and centralization.
Everyone involved in mining would be wise to read up on these activities.

One line of work is a new type of POW algorithm called ProgPOW, which is designed to be much less profitable to implement in ASIC. Hopefully, we will see some projects adopting this.

Another track is the new movement with FPGAs. This type of hardware will fight with ASICs on technical merits and make it possible for the small miner to compete with big farms. The FPGAs can be reprogrammed when blockchains are forking or to mine different algorithms. They are also much more power efficient than GPUs, which will benefit small miners.

Also keep updated on which blockchain projects which are forking to keep ASICs out.
If you do not like ASICs, do not support blockchains that promote ASICs.
And - don't buy ASICs. If you want something more efficient than GPUs, look into FPGAs instead. There are multiple threads on this subject already.

hmm raciscm is now reported bro. Whitebrow you are reported to police

he is really salty about his burned asic money

Piskeante is right, you are stupid monkey.

ALL this was about was stopping people from making the same mistakes as I have and all I have been met with is abuse.

YOU FUCKING RETARDS WHO DO NOT UNDERSTAND ENGLISH.

Next step be scammed

Look at you "trade with caution" .. haha a scammer calling me out.. stfu b1tch and use some of your limited <80 IQ to work things out..

deja vu

What this guy want
Money back?
ASIC to Hell?
Make profit with ASIC or be scammed again?
Trump President in Korea

See in next episode.

is that why you got no money hahah go way kid.. your boring and fake

at least tards who can do some math

^^^^^ THICK LOW IQ PEOPLE POSTS ABOVE




Whats all this greed crap you stupid idiots.. everybody wants to make more.. STFU kid... god what a bunch of tards on this forum its unreal... and mate my paycheck per week is more than yours in a year so please STFU without the right information

doing some math would have saved you alot of money, you have been greedy now you got your paycheck

HAHAHAH i cant even respond to such a stupid ignorant no sensical demented post HAHAHAHAH you are one Funny. + very low IQ person. please leave the thread..

And please FK off GPU defenders I am GPU too.. and some ASIC...

i will say it another time but in a different way using the same "tone" as you used with me.

When asics were destroying gpus, you decided, with greed to buy ASICS. you are a greedy guy, no doubt about this. everybody KNEW THAT ALL ASICS BUILDERS HAD BEEN MINING WITH THAT HARDWARE WHILE DIFFICULTY WAS LOW. You bought that hardware when it was not profitable to do it (that's why they were selling them).

Are you so stupid to consider buying things like an asic miner if the builder could get more money using it than selling??? Why would a builder sell a product if they get more money using it??? DID YOU THINK ABOUT IT FIRST?? Greedy guys like you think only in money. You deserve what happened to you

Now you come crying saying that those scammers scammed you. Do you remember when you bought those ASICS how good you felt and how excited you were with the money you were going to win??? Remember that right?? That feeling of: hey, i'm the best. F..k those gpu lossers.  

I don't give a F..k about people buying ASIC. I wish them the worst for greed.

Enjoy your useless and expensive hardware. At least, i can sell my gpus to gamers and get back a part of my investment. Your Asic sh*t can't.

I dont want you to feel bad about it, nor do i care for your bullsh1t ... I have 55 GPU too.. so many idiot replies from GPU dickheads.. yes I have them too retards and many more than you.

So many dumb people missing point of post and defending their GPU.... must be below age of 10 most of you

This is about fking up ASIC not abusing me for buying some FFS .. dumbasses

you fking retard this is about stopping it happening .. .USE your 1 cell brain to understand that thick bastard

You scammed yourself.
If you would do proper research you wouldn't buy them in the first place, next time buy a brain instead, clearly you're lacking one.

I don’t find that to be that crazy at all. Actually they would be smart to do so. And we would be naive to think they aren’t doing otherwise.  Wise up people.  I thought this was an intelligent group of folks.  I’ve noticed it for a while. This forum is merely a bunch of pc parts salesman’s. All circle jerking each other.  It’s enbarrassig at this point.  Sad what money degrades ya into a former shell of what a human should be.  

BR

The best theory I’ve had in the past which is most likely fact.  Create a “gpu” only coin which we now know is pure bullshit! PR nonsense!  Have an asic built before releasing said coin.  Rob people blind.  If you think this isn’t happening then YOU are the one it’s happening to🤓

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... :-).

i hate asics because they've destroyed gpu-mining.  so....sorry but i don't feel bad for you.

So. Just dont by them

Welcome to the anti-ASIC club

BTC
I have personally had over 10 different ASIC miners over the past 6 months and i have lost lots of money on them as its impossible to get get ROI. You can get ROI over a long time ( well over a year on most ) but you have to manage all the heat and noise from these... is it worth it for $2 a day? NO.

We all know what these companies are doing...

Mining up to a point where they think they can make more money by selling them and sell as many as they can as quick as they can before the difficulty increases.

If they cant prove you will get ROI within a sensible time frame they should not be selling these units.

At the moment we are all be conned out of $10000's and they are making millions off us.

The only way ASIC miners are worth it is if you have free electricity and a place where you can limit the heat.

Bitmain - FU SCAMMERS
Innosilicon - FU SCAMMERS
halongmining - FU SCAMMERS

When i say scammers, you will get your miners but within weeks they will be worth nothing and these companies know that.

WE NEED TO STAND AGAINST THESE NOW, DONT GET ME WRONG I LIKE ASIC LESS POWER AND MORE GREEN THAN GPU but we cant be manipulated and conned like this anymore, we have to get the message out to all people and put an end to these companies SHADY trading processes.

What are we going to do about it ? keep buying them blindly and encouraging them ? Something needs to be done...

First we had BITMAIN has taken over the whole mining market.. .now we have 3 companies taking over the mining market, milking it to F*** then selling to the desperate public once the profit is dimished.

Bitmain is now worth 12 Billion ? of scammed turnover.

These companies need investigating into their fraudulent business process ASAP.

FU ASIC SCAM COMPANIES. THEY HAVE RUINED GPU MINING FOR THE MASSES AND GIVEN US BACK ASIC THAT CANT MAKE PROFIT.

DO SOMETHING, SOMEONE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

ASIC COMPANIES  

CUSTOMERS  


The richest people in the world are now BTC drug dealers and ASIC miner producers... what has this world come to.