Topic: Block Erupter USB Sales [Temporarily Out of Stock] - page 11. (Read 93208 times)

I just ordered 84 of these bad boys.

My 3 month plan:
Mine with them for ~month = ~$2000 usd profit
Sell on Ebay for ~$150 (half of what they're selling for now) = ~$12600
Cost of 84 = ~84.2 BTC = ~$8630.50
Estimated total income = ~$14600
Estimated profit = ~$5970

You guys are welcome to your own opinion, but this doesn't seem like a bad deal to me.

Granted.. I may not be able to sell them all for $150 on ebay, but even if I sell them at cost I was still able to mine on them for a month for free.  

1) Manufacturer deploys xTH/s of customer-purchased hardware
2) Network difficulty destroyed
3) Manufacturer unplugs hardware to send to customers
4) Network difficulty un-destroyed
5) Customers deploy xTH/s of hardware
6) Network difficulty destroyed
7)

I am a bit confused by your thinking here.  You plan to run your USB miners for 'a couple years', then turn around and say that other operations will destroy the difficulty and send something that isn't much more profitable than these things in the first place.  For this statement to make sense, the USB miners would have to break even before other ASIC companies ship, which probably isn't going to happen.  For the same cost you can get ~15x the hashpower but have to wait, wouldn't that mean that the difficulty would have to rise even more in order to make those options worthless as well?

That's what I was originally trying to say - you said it so much better

No that's called price gouging, or profiteering, i.e. taking advantage of people in the current ASIC environment.

Whether you buy now, or later at his reduced price you are likely to profit the same (if at all), as he steals all to gain from the situation for himself. All you've done this past month by owning one is make cash for friedcat. The same of those that buy now in a few weeks time when prices are slashed again. It's nonsense to buy anything from asicminer unless for novelty purposes.

yeah thats exactly what I'm saying, except in response to the person saying FC could price them HIGHER because people on ebay were overpaying.  More people will buy at 2 btc than $400, more people will buy at 1 btc, than 2 btc.  The ultimate profit maximizing sale price is not the highest price a few people are willing to pay.

The difficulty has to increase by two orders of magnitude for these to become totally worthless in terms of power usage versus mining income.  I plan to run them for the next couple of years.  I'm not really worried.  If they lose money, so be it, at least they're not costing me anything to run and they are securing the Bitcoin network.

The per watt efficiency is similar to other manufacturers out there, so as long as they are mining profitably, probably I will be too.

In the meantime you're welcome to disseminate your money to operations who will ship in "September" or "October" or whenever, who will probably use your funds to buy ASICs, destroy the network difficulty with them before shipping them out, and then send a slightly profitable brick to your doorstop (as we're seeing with Avalon and BFL, and as I'm sure we'll see with the Klondike etc manufacturers).

what?

if these were priced at .50 btc i would buy 10 right now, the level of demand would increase and he would sell more of them to more people, thus increasing his profitibility long term. as they are/were priced i have not bought any.

ASICMiner should just open up an Ebay account.

level of demand @ $400 does not equal level of demand @ 2 BTC, just like level of demand @ 2 BTC does not equal level of demand @ 1 BTC.  This is standard Econ 1 stuff.

Your hashrate estimate for Block Eruptor mining scrypt is slightly off.

Its not 330 KH/s . More like 0 KH/s.

Using this more accurate estimate, i would assume your litecoin calculator should say.

30 days   0 LTC   0 BTC   0 USD

Emphasis mine. Assume huge jumps in difficulty, like we've seen recently, and you get different numbers.

First, let me correct it for you (see above).

Secondly, these are ASIC which only purpose is to mine Bitcoin or another SHA256 based coin. Litecoin is Scrypt based, so you you can't use them to mine Litecoin.

--------Sorry if this is the wrong place------

According to some posts in this discussion, mining with the USB sticks is no longer profitable. However, when inputting the data in Litecoin mining calculators, it shows a profitability of:

30 days   12.93686804 LTC   0.35149470 BTC   34.18 USD

Am I missing something? (using 330 kH/s)

That would mean they pay themselves off in 3-4 months assuming current difficulty. I understand it should go up, but how can this be such a bad investment? Even if they pay off in 6-8 months?

I'm quite new to this, so I appreciate any replies.

--------Sorry again if this is the wrong place!------

Man, don't try too hard, I've been trying to explain all your points many times (bolded ones especially), but still there is people that seem that do not want to understand.

According to me, Friedcat is doing his best to keep the profit of ASICminer as high as possible. If ASICminer is earning profit, it means also its shareholders are earning dividends. So some parts of profits are still being shared with bitcoin community
The prices were high as there were customers who were buying it for such price as much as the company can supply. The price drop is obvious if either supply increases (and profits can be earned through volume sales) OR if there are not enough customers to buy as much as there is supply but there is very good profit margin. More over in this case - bitcoin difficulty has kind of doubled since 60 days.

How ever i would see people who think Friedcat did wrong in reducing the price will be the ones who bought these at 2BTC and the ones who think it is good are the ones who were thinking of buying but did not buy at 2BTC and people who think it was not good before as well as not good even now are the ones who do the calculation of ROI and stay away from. In other words whether you bought this at 2BTC or at 1BTC, you will not break even. You are just spending money just to have this fun instrument and have the fun of being a part of mining. People who needed the fun sooner paid twice than people who could wait for its price to drop. I know i sound harsh but it is what Math is saying to me.

On the other hand if u think - because there are cheaper usbs now, the network will have more hashing power and hence your 2BTC usb would mine less than what it could if there no price drop - come out of that as the change of even 1% in global hash rate needs 5000 usbs powered on. No sudden big change will happen to hash rate because of these usbs.

Hi Friedcat I have sent you a PM concerning a group buy... please respond

If everything is as you said, than I guess he's just a fucking douche, and would screw you over despite price dropped or not.

And sticking to the topic: I would've just gone with my own price to friedcat via PM if I were interested. If he makes them as cheap as he does, he probably would sell. Also it's about maximizing profits, he can sit and mine with them 24/7, but selling gets you your money faster.

Stop buying them and watch the price drop even lower. It shouldn't be any higher than 0.5 BTC. At best you make $1 US per day with these - not worth the bother. Stop buying it.

Hi Friedcat I have sent you a PM concerning a group buy... please respond