everything is relative of course, but still for the majority 1 btc per day is pretty good
yup, i agree
Topic: BFL shipped their first single (Read 5444 times)
yup, i agree
everything is relative of course, but still for the majority 1 btc per day is pretty good
I consider profitable anywhere from 7 to 9 bitcoins per day. Not 1.
If you don't keep upping your hashrate, you just keep earning less and less each day.
Right now, you need a good 400GH/s to earn 7 to 9 bitcoins per day. Imagine by August. Current ASICS are way overpriced. There is either going to be a huge drop in prices soon or a major disatisfaction from miners earning less than 1 btc per day. (Of course, for previous GPU owners that is an amazing amount of cash for them)
this is exaggerated, earning 1 a day, is respectable, we are talking about $3000 in one months at current priceIf you don't keep upping your hashrate, you just keep earning less and less each day.
Right now, you need a good 400GH/s to earn 7 to 9 bitcoins per day. Imagine by August. Current ASICS are way overpriced. There is either going to be a huge drop in prices soon or a major disatisfaction from miners earning less than 1 btc per day. (Of course, for previous GPU owners that is an amazing amount of cash for them)
the problem is the initial investment
if you can mantain this ratio: 3btc/5ghs/10M difficulty then it is possible to buy the next asic , stay in the racing game and make profit
I went directly to an ASIC so my views of what is respectable profit is obviously different. I earned 9btc just two days ago from trading alone. From the ASIC about 3 or 4 BTC in that same day. If I were sticking to only one pool it would have been closer to 2 BTC.
I suspect GPU Miners moving into ASICs are going to settle for far less and perceive 1 BTC per day to be a "good" profit. Heck, Jally owners seem to be pretty happy to even get a quarter of a BTC every other day.
Terahash is already the new Gigahash. 
what comes after Tera?Peta = 1000 x Tera
http://en.wikipedia.org/wiki/Binary_prefix
Interesting part here is of course what speed they can keep on backlog. If they manage to bring all product lines up to par with current Jalapeño shipping speed (clearing a month of backlog in 4 days as of latest update) it may actually be a viable proposition to buy a SC or Sac Single even straight off the website. $1200 for 25 gh/s with delivery in say late August seems like it could actually be a ROI positive proposition.
Thats total bullshit !!!!!!!!!!!
They have done 6 weeks in 3 weeks do the math fuck stick !@
I consider profitable anywhere from 7 to 9 bitcoins per day. Not 1.
If you don't keep upping your hashrate, you just keep earning less and less each day.
Right now, you need a good 400GH/s to earn 7 to 9 bitcoins per day. Imagine by August. Current ASICS are way overpriced. There is either going to be a huge drop in prices soon or a major disatisfaction from miners earning less than 1 btc per day. (Of course, for previous GPU owners that is an amazing amount of cash for them)
this is exaggerated, earning 1 a day, is respectable, we are talking about $3000 in one months at current priceIf you don't keep upping your hashrate, you just keep earning less and less each day.
Right now, you need a good 400GH/s to earn 7 to 9 bitcoins per day. Imagine by August. Current ASICS are way overpriced. There is either going to be a huge drop in prices soon or a major disatisfaction from miners earning less than 1 btc per day. (Of course, for previous GPU owners that is an amazing amount of cash for them)
the problem is the initial investment
if you can mantain this ratio: 3btc/5ghs/10M difficulty then it is possible to buy the next asic , stay in the racing game and make profit
If it gets to the point BFL devices aren't profitable vs the cost of electricity, I'm not sure there's any possible option left to mine for profit.
Would anyone be happy to buy shares on my ASIC?I'd guarantee 10cents for every share. LOL.
If it gets to the point BFL devices aren't profitable vs the cost of electricity, I'm not sure there's any possible option left to mine for profit.
Propaganda
Terahash is already the new Gigahash.
what comes after Tera?
Terahash is already the new Gigahash.
what comes after Tera?
A more sure bet is to trade bitcoins. On my first day I made 8 BTC.
I WAS going to make 25btc but then I pulled the trigger a little too early. Damn...
It sure beats mining right? (I am already at the 0.43% tier after only 3 days)
I WAS going to make 25btc but then I pulled the trigger a little too early. Damn...
It sure beats mining right? (I am already at the 0.43% tier after only 3 days)
Mining is a game for grinders and gamblers. Always has been, always will be.
*grifters?
Mining is a game for grinders and gamblers. Always has been, always will be.
Terahash is already the new Gigahash.
“I don't know yet, but it might be a zero sum game.”
I think to make money from mining bitcoins you need “luck” IE buy the right miner –
On paper BFL seem the best bet in June last year – but Avalon and asicminer came out first and made those miners lots of $ (BFL Fu*ked up by being late and 5 time the power ) . Today it is my belief that all miner hardware are over priced and if you brought a miner to day with a delivery in September/October – you will not get your money back because by October the network hash rate will be around 1200 TH about 157,413,798 in difficulty . I also believe that v2 asic will be announced in the next few months for new miners next year - and next year TH will become the new GH – so yes unless you are “lucky” and buy the right miner it could be a zero sum game or even lose money.
IMO
The window of opportunity will be closed in about 3 months for this generation of asic because of high power consumption and high $ per hash .
I think to make money from mining bitcoins you need “luck” IE buy the right miner –
On paper BFL seem the best bet in June last year – but Avalon and asicminer came out first and made those miners lots of $ (BFL Fu*ked up by being late and 5 time the power ) . Today it is my belief that all miner hardware are over priced and if you brought a miner to day with a delivery in September/October – you will not get your money back because by October the network hash rate will be around 1200 TH about 157,413,798 in difficulty . I also believe that v2 asic will be announced in the next few months for new miners next year - and next year TH will become the new GH – so yes unless you are “lucky” and buy the right miner it could be a zero sum game or even lose money.
IMO
The window of opportunity will be closed in about 3 months for this generation of asic because of high power consumption and high $ per hash .
I agree, but BFL offers some of the lowest cost/GH devices. If their devices aren't profitable to operate in a couple months, neither will most of the other available ASICs devices.
Low cost, but very long wait time, which obscures their true cost. Their true cost is extremely high because of the rising difficulty. BFL ASICs where supposed to ship when the difficulty was 2 million. Now it's over 15 million and rising, and most BFL customers haven't received their units yet.
BFL devices would still be fairly profitable to operate at 3x current difficulty. I believe you need to get all the way to 10x current difficulty in order for profitability to look iffy.
They can only be profitable after they reach break-even point, which is going to be several months (or maybe even never) after the device starts mining.
I agree, but BFL offers some of the lowest cost/GH devices. If their devices aren't profitable to operate in a couple months, neither will most of the other available ASICs devices.
It does seem like there is a big bubble building in ASIC mining hardware. If the price of BTC doesn't go up, or if the cost of ASIC mining hardware doesn't go down, the future doesn't look that bright for miners.
I don't know yet, but it might be a zero sum game.
If it turns out that way, the resell value of ASICs is going to drop way below what the retail price is currently at. So it might all work itself out. I will soon offer a ridiculously low offer for Singles. People will scoff at first, then when they can't make enough, they will take it. LOL.
In my opinion, BFL is decent option compared to their competition at the present moment. I know they've had issues in the past, but they fact that they are cranking out Jalapeno's is very encouraging.
Lets compare them to their competition:
1.) ASICMiner - The price of their blades and usb miners is a complete ripoff that will likely never earn back what the cost in BTC (cost over $400/GHs).
2.) KNCMiner - This company looks encouraging, but they still have a long way to go before they can ship a working product. I'd give them a 50/50 shot of shipping anything in 2013 (Cost of ~22$/GHs).
3.) Avalon - All you can do at the moment is buy the chips and hope you'll be able to turn them into a working miner in a timely fashion (assembled cost and delivery unknown, but Terrahash is selling for ~50$/GHs).
4.) BitFury - I haven't been following this company that closely because I don't feel comfortable ordering anything priced in BTC from Russia.
5.) BTC - Shipping Jalapeno's, huge backlog being worked off at about the rate of 1 month per week, cost of ~$50/GHs.
6.) Buying used ASICs secondhand is also a complete ripoff with prices of Avalons going for ~$500/GHs.
You can either buy 2 USB miners from ASICMiner (600 MHs) or a 7 GHs miner from BFL for 4 BTC. If the BFL Jalapeno ships in the next 2 to 4 months, which I think will happen due to their recent performance, there is a clear winner.
I understand that some folks with early pre-orders are pissed at BFL, but if one does the math and tries to take a truly unbiased view of the current ASICs landscape, BFL is not a bad option...
Lets compare them to their competition:
1.) ASICMiner - The price of their blades and usb miners is a complete ripoff that will likely never earn back what the cost in BTC (cost over $400/GHs).
2.) KNCMiner - This company looks encouraging, but they still have a long way to go before they can ship a working product. I'd give them a 50/50 shot of shipping anything in 2013 (Cost of ~22$/GHs).
3.) Avalon - All you can do at the moment is buy the chips and hope you'll be able to turn them into a working miner in a timely fashion (assembled cost and delivery unknown, but Terrahash is selling for ~50$/GHs).
4.) BitFury - I haven't been following this company that closely because I don't feel comfortable ordering anything priced in BTC from Russia.
5.) BTC - Shipping Jalapeno's, huge backlog being worked off at about the rate of 1 month per week, cost of ~$50/GHs.
6.) Buying used ASICs secondhand is also a complete ripoff with prices of Avalons going for ~$500/GHs.
You can either buy 2 USB miners from ASICMiner (600 MHs) or a 7 GHs miner from BFL for 4 BTC. If the BFL Jalapeno ships in the next 2 to 4 months, which I think will happen due to their recent performance, there is a clear winner.
I understand that some folks with early pre-orders are pissed at BFL, but if one does the math and tries to take a truly unbiased view of the current ASICs landscape, BFL is not a bad option...
There is one problem with your calculations. If BFL delivers their entire backlog, that could add 200-300 TH/s to the hash rate. Tripling the hash rate (even before the Avalon/Klondike wave hits in Aug/Sept/Oct). That would cut returns for BFL single & mini-rig owners by one third. If BFL does not clear their backlog, you cannot get a device ordered today from them until they do. It inserts an large element of uncertainty.
ASICminer is just gouging because they can. Currently, they are the only ASIC company that will deliver an order you place today within a week.
BFL devices would still be fairly profitable to operate at 3x current difficulty. I believe you need to get all the way to 10x current difficulty in order for profitability to look iffy.
So 3x means you'll get to it in about 12 to 21 days.
At 10x you'll get to it in about 40 to 70 days.
This is all assuming the rate doesn't accelerate...which is exactly what is going to happen with the huge number of ASICs.
Expect less than half that time frame when Singles ship.
-------------
Though, there are alternate scenarios where an ASIC is still profitable if you think about the problem in an ingenius way.
As with most successful business ventures. if you dont reinvest into it(expand), then you will get crushed by competition. Same goes with BTC mining.
Jump to: