Topic: ASICs are Over priced - page 4. (Read 4982 times)

Sorry to "intrude" but IMHO your missing the point. The network didn´t grow and prosper because of a few "investors" with enough money to take over a considerable amount of combined hashing power. As far as I know, one of the core principles of Bitcoin is the ability of as many participants as possible - the more the merrier. No trust issues because of the big big numbers of participants. The chance to earn new coins now and to earn from fees later. No centralized control. No centralized power over the currency.

When participating with CPU - no problem. Anyone with a computer could participate without considerable cost.
When participating with GPU - no problem. Anyone with a newer computer could participate without considerable cost.
ASICs are not only a completely new game, it´s completely new sport.

When buying shares from whoever, there is nevertheless a centralized huge hashing power beyond the control of many.
When buying ASICs now because of deep pockets of a few and profiting huge in the coming few month and "reinvesting" that money after massiv increase of difficulty bears the risk of centralizing instead of decentralizing.

A lot of people (and I assume the creators of Bitcoins) wanted a currency that depends NOT on the decisions of a few. You can call this "few" government, feds, Bundesbank or Oligipoly of rich ASIC  "investors". Bitcoin is more than a network, more than a way to print your own money and more than a kindergarden of tech-freaks. If the community doesn´t respect the principles, Bitcoin will go down the road of any actual currency. I don't want a "FED" consisting of a handful of miners with hashing power no one with a computer can do anything about.

I trust a network build of thousands of family men with a computer a lot more than a network of elite ASICs.

No offense - just my two cents.

You should probably get into a groupbuy and get a klondike16. That will cost less than a GPU and turn about 4.5GH/s.

If you don't feel too adventurous about it right now, wait a month or three, mine with your GPU (it's not like anything bad will happen to it in the meantime) then find the most reliable seller you can buy a K16 from (and eventually sell your GPU on ebay).

This is going to be the cheapest way to stay "current" in bitcoin mining, unless BFL start shipping like there's no tomorrow (if you believe in that...).

I'm all about supporting the klondike cottage industry, even if Avalon profits from it. It's a way for the community to keep the other ASIC vendors "honest".

I am not sure how you came to the conclusion that they are not worth "all that money."  Quite simply, ASICs are worth exactly what someone is willing to pay for them.  So they are not overpriced at their current price point because that is what they sell for.  Once again, just because YOU can't afford one does not mean they are overpriced.

Exactly.  And they they can just scale up over time.  Patience (and an intelligent use of coins) is required for those who don't have enough coins/money saved to start out with a lot of hashing power.  

But anyone can get started and grow their power over time.  No need being bitter about others being able to afford more hash than you.


By saying that you don't have the money to join the "club", but also saying you'd like to mine and earn to support your family, means that you need to mine and put all your coins back into mining and scale up - eventually you'd be able to afford more powerful hardware.  For many of the people in the "club", that is exactly how it was done.

Why would you not invest the money if you had it?  I'm not sure how you can complain about others being able to afford it, say that you want to mine to help your family with the profits, but also say that you wouldn't invest to do it even if you could.  Huh?  What exactly is this all about then?

this is what I am doing now, but think about 2-3 weeks from now, I wont be able to mine with my GPU. and I cant get an ASIC as well, only few people have that blessing. it is nothing personal thought, I am thinking out loud, and I believe that allot of people are doing the same.

To be clear here, this is what most of us are doing, at least I am, and reinvesting into PT shares or similar.

 So don't drop $9k then. You can get an AMD 7950 for ~$300 to get your feet wet.

 ... an alternative to suit your budget.

regardless when they did start mining, they are just ignoring my point here !

These guys are throwing around these numbers probably because they have been mining for a while and where able to mine bitcoins before they where $100.00+ a piece.

I cant afford a Ferrari as well, but I have allot of alternatives which suite my budget, and yes I do not care only about the network security I would like to mine Bitcoin and use the side profit to support my family, this is nothing wrong, am I right ? and I do not have the 9000 $ to join your club, and even if I had I wouldn't pay that much because I think long term, these asics could be at reasonable price so all of us could buy one, and companys  would still make a load of money. you are just missing the point here. these ASICs are not worth all that money, with these prices you are limiting the customers to a small group of people.
  

It's AsicMiner you are talking about. Don't you dare to think you won't get angry answers if you don't say it's beautiful feeling to pay something that would make loads of money to AM and eventually make ROI for you 

I might recommend picking up some ASICMINER-PT shares if you are thinking of getting into Bitcoin and don't want to invest in mining hardware.

Disclosure: ASICMiner-PT & TAT.ASICMiner shareholder and USB Block Erupter miner.

I really don't understand the complaint.  I can't afford a Ferrari or a Lamborghini, but I don't whine about it on a public message board.  

If your concern was really about securing the network (as opposed to profit), you would just buy some ASIC Miner shares at an amount you could afford, or even some of the escrowed group buys that people on the forum have been advertising.  Then your money is going toward increased hashing.  I suspect you just want to make a ton of money though, and are bitter that you can't afford to buy an ASIC of your own.  Am I right?

An ASIC chip costs between $0.50 and $2 to manufacture dependant on volume and mask intricacy.

Well too bad then, because I am making it my game, with the little that I have, I will make something out of it.

For all of the people out there that don't have $9000.00 to drop on a single piece of hardware, don't be discouraged by folks like the above. Do what you can, build upon what you have, this is not a race, it's a marathon, just because you don't get your shiny new toy today does not mean that it wont make a difference in the future. Keep saving everyday, sell stuff, do jobs on the side and you will get to where you want to be.

Edit: spelling

I see that you do care, am I wrong ? otherwise you wouldn't waste your time reading and replying to such a thing .

That is a good return, but compare the price to the Avalon units and 50BTC for 12GH/s is fairly pricey. On the other hand, the erupter blades are actually available.
The erupter blades will make money, but not everyone has $8K to drop on a single piece of hashing equipment.

Angry and aggressive? You were just plain wrong while qq'ing about a topic no one cares about.

Then bitcoin is not your game. Speculate to accumulate, spectate to procrastinate.

first batch went for at least 75 BTC https://bitcointalksearch.org/topic/asicminer-auction-10-block-erupter-blades-ended-178275
second batch went for at least 50BTC https://bitcointalksearch.org/topic/asicminer-auction-50-block-erupter-blades-check-op-for-payment-189248
third batch was price fixed @ 50 BTC so you could order all blades right away , some did start with 10 blades order they sold out when I knew about the batch. https://bitcointalksearch.org/topic/asicminer-fixed-price-auction-50-block-erupter-blades-everyone-won-see-op-201753


and with all do respect, we are just discussing a subject here, there is no need to get angry and aggressive. keep it nice and smooth .