Topic: Do you still want to buy a BTC miner? Better read this first. (Read 3918 times)
Great read! I am looking right now at why I should build or purchase a miner (https://bitcointalksearch.org/topic/is-building-your-own-miner-worth-it-253782)... knowing more about bfl's chip really helped to weed them out as a potential.
This kinda reminds me of: https://bitcointalksearch.org/topic/if-youre-thinking-buying-mining-hardware-read-this-first-6566
Expect a similar thread in two years.
Expect a similar thread in two years.
I remember that thread and reading it after I had sold a bunch of Bitcoin I'd bought under $1 and sold for maybe $6 or so. Because of that thread I bought back in at $4 and watched as the price increased to like $30 within two more months.
I think one thing to mention that does make this different than the GPUs is that ASICs have 0 resale value, while a lot of us mining with GPUs knew we had friends we could sell them to or extra computers we could use them in if it became unprofitable for some reason.
The geek in me just wants bigger numbers to extend my e-penis
Epic
While less interesting to me than mining, some folks are making pretty good coin selling miners in hand (and still some pre-orders). So... there is more than one way to make a return, but for me... being the middle man just seems like not a lot of fun.
commentted for satoshi 
thanks , good point !
I always wonder how many of the "don't mine, you'll never see a full return on your investment" are running as many mining rigs as they can. 
Running them maybe. But not buying more.
Ordering a machine to be delivered after 3 months of monumental growth in the hash rate (BFL order log, Avalon order log, Klondike order log, KNC orders, and Bitfury orders) seems a bit hazardous.
Calculating a "return" off of current difficulty with zero growth rate is just bad math.
assuming that you are looking for a return, not all of us are.
I am not criticizing people for buying miners. I am criticizing people for saying that some miners ordered now will generate a positive return (when the math says otherwise)
If you just want to support the Bitcoin network, that's fine.
I see this all the time, but honestly, altruism is great until the bills roll in. How long will you mine at increasing monthly losses?
99% of miners are attempting to turn a profit or at least break even if they're altruistic. Very few will mine at a significant loss.
99% of miners are attempting to turn a profit or at least break even if they're altruistic. Very few will mine at a significant loss.
I always wonder how many of the "don't mine, you'll never see a full return on your investment" are running as many mining rigs as they can.
Running them maybe. But not buying more.
Ordering a machine to be delivered after 3 months of monumental growth in the hash rate (BFL order log, Avalon order log, Klondike order log, KNC orders, and Bitfury orders) seems a bit hazardous.
Calculating a "return" off of current difficulty with zero growth rate is just bad math.
assuming that you are looking for a return, not all of us are.
I always wonder how many of the "don't mine, you'll never see a full return on your investment" are running as many mining rigs as they can.
Running them maybe. But not buying more.
Ordering a machine to be delivered after 3 months of monumental growth in the hash rate (BFL order log, Avalon order log, Klondike order log, KNC orders, and Bitfury orders) seems a bit hazardous.
Calculating a "return" off of current difficulty with zero growth rate is just bad math.
Not everyone is buying these things to get a ROI. I mine for the challenge of getting the best hashes from my hardware possible, and keeping my uptime as close to 100% as I can. It's a hobby. The fact I get some money out of it is a bonus to me.
Same for me! And its a way also to put your "money where your mouth is", to spend some good old bitcoins and to bring from the fiat into the crypto economy. Without mentioning that we are also running all the global finances! I trully think that its fascinating and makes a bit extra cash! I talk about this from the ammateur miner's perspective! I have trully found a beautifull vortex that has given me very important lessons about modernity!
Lets hope it all continues swell!
The geek in me just wants bigger numbers to extend my e-penis
Epic
I still think its quite fun. I don't even know why though. The geek in me just wants bigger numbers to extend my e-penis
I always wonder how many of the "don't mine, you'll never see a full return on your investment" are running as many mining rigs as they can.
This kinda reminds me of: https://bitcointalksearch.org/topic/if-youre-thinking-buying-mining-hardware-read-this-first-6566
Expect a similar thread in two years.
Expect a similar thread in two years.
I cannot believe proudhon was there... as the first replier... lol
I thought proudhon just join bct when btc went up to $266/btc
The only units that even makes sense to order now, is KNC Saturn or Jupiter. The only risk is if BTC can`t hold it`s value. Even if you avg 4-500mill diff, you will have your RIO in 6 months. Then again, if BTC price drops, many miners will also drop out.
This kinda reminds me of: https://bitcointalksearch.org/topic/if-youre-thinking-buying-mining-hardware-read-this-first-6566
Expect a similar thread in two years.
Yep. I always laugh when I see all the "sky is falling" threads that pop up. Expect a similar thread in two years.
This kinda reminds me of: https://bitcointalksearch.org/topic/if-youre-thinking-buying-mining-hardware-read-this-first-6566
Expect a similar thread in two years.
Expect a similar thread in two years.
Unfortunately there are no miners in hand to be had from the big guys (Avalon, AsicMiner, BFL), so really this only applies to the reseller market.
The folks selling mining equipment in hand have been setting the prices above 2GHs/BTC for miners in hand.
I have made a google spreadsheet with an best fit least squares exponential (and then tweaked it to be a bit more pessimistic).
https://bitcointalksearch.org/topic/google-doc-with-exponential-fit-lead-time-and-linear-rate-target-236050
You can put in lead time, expected hashrate, and your exponential tweaks if you like to model what your return would be on a miner investment.
I think at this point 2GHs/BTC is a clearly safe but unrealistic sale price... definitely something to shoot for.
Not everyone is buying these things to get a ROI. I mine for the challenge of getting the best hashes from my hardware possible, and keeping my uptime as close to 100% as I can. It's a hobby. The fact I get some money out of it is a bonus to me.
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