Topic: ASIC miners - frustrating? - page 2. (Read 1034 times)

I agree, but want to point out that GPU's can be resold or repurposed at least. That fall back doesn't exist for asic hardware. 

Its just a case of supply and demand. The ASIC suppliers are in a monopoly position, and while there is no Intellectual Property barrier to admisssion (unlike many other markets), there is an upfront cost and leadtime that seems to have deterred new entrants (but not scammers). In other words its not currently working as an "Efficient Market".

To give them their due, ASICMINER and Avalon seem to be behaving quite ethically in not abusing the bitcoin hash chain (the 51% problem), but they do seem to be out to maximise their profit, and are pricing their products to match. As for BFL, to put it kindly they have overpromised and underdelivered.

The market will clear eventually, but as I see it there is no point buying equipment for mining at this point as the return on investment simply is not there. As for why there is such enthusiasm for ASIC's (you only have to trawl through the mining / custom hardware threads), perhaps because its the next big thing (and it will dominate mining, sooner or just a little later). But the profit is going to the equipment suppliers, not the miners (as always, Klondike anyone?)

With hindsight, being an early adopter has paid off handsomely with ASICs, and who knows. perhaps some of the luck will trickle down to the following herd. Or perhaps not. Personally I have no skin in this game.

I don't like how 80% of the hashing power is controlled by a handful of people.

The risk right now is BFL taking your money for a year or so.  Those people who did deserves to make bank on their faith in BFL.

The frustration comes from the fact that I can't really do anything now.  I can't just go buy a Single (and I really want to) and have it in a couple weeks.  And do you trust the people on eBay?

Send money to the ebay seller and now YOU have to wait.  As you wait, Paypal will no longer help you after a certain date if the seller decides to keep the thing for himself (assuming he actually even ordered it).

If you think bitcoin is a worthy investment you should just buy in at a comfortable pace. Just like what MrMochi said. you will always feel late the the party.

Obviously if you are going to mine. Have a plan. Difficulty is going to change and your profits will drop. You don't want to get stuck with a whole bunch of GPU's you can't use.

Same. Newbie jail.
Have been lurking for so long.

OT: just don't mind it too much.
It's like saying "I should have invested in Bitcoin when it was $10" when it reached $40.
But you didn't invest then because you thought you were late to the party.
And before you knew it reached $100.

Same now with the ASIC's.
You missed out on an early bird spot.
And right now investing in a miner seems daft.
Might as well wait for the next generation of ASIC chips.
And make sure you're first in line by then.

I think you'll always be late to the party somehow.
Unless you take a risk and invest now in hope it reaches higher.

Since I have to post a few before I can get out of Newbie jail (I have to PM someone to fix something... and now I can't... grrr).... I want to ask...

Is anyone frustrated by the current situation of ASIC miners out for some people but you can't actually buy one right now?  I understand they preordered and waited, but I just found out about this kind of stuff, and now I want in, lol.

Oh well.  On with my GPU, then.