If I invest some money into a BFL device and actually get it someday, the mining difficulty will have risen so much that it won't be worth running for anybody other than the very first few who get them, except of course for the 'cool' factor. Whether they are legit or not, it seems that either way I would lose.
So you're saying shame on BFL if they make enough of these so everyone gets one and you don't get rich because the difficulty went up so fast? It sounds like you would only be happy if you got one and others didn't. BTC is a game of diminishing returns. If you aren't first or you don't go big, it's not going to pay off like you want it to.
Well even I am really worried whether it would be a sound investment buying one of their rigs. Why? Not because "it wont be worth mining" but exactly because of the diminishing returns and the very unstable markets (at this point).
If you look at BFLs range of products, they should all breakeven within 5-9 days of operation, at the current market price of the BTC. Even if you put aside the diminishing returns, the problem is what happens if the market crashes? Is this also calculated risk? What if inflation occurs? As I understand, the level of difficulty which is influenced by the hashing power should be enough to regulate the rate at which BTCs are issued. Is this a full proof system?
Even I am interested in getting a BFL device, but what worries me the most is the future of the BTC. If you look at the markets, they are currently down by more than 25% on the last 24hrs average price.
Say that something like this is going to occur, you would be left with a rather expensive piece of equipment (which at this scale is more like a capital investment, rather than equipment) which I doubt has much other use.
Good question actually, does anyone know any other use for the BFL ASICs?
