Topic: HashFast announces specs for new ASIC: 400GH/s - page 191. (Read 880461 times)

I am seeing people making a lot of messed up arguments about how spending money on mining equipment is a form of speculation and how it depends on Bitcoin price. It's a straw man which distracts from the real issue:

HashFast sold hardware based on an october delivery which resulted in yield projection based on a 2 PetaHash network. They failed to deliver by a significant time-span and the network is now 20 PetaHash and the yield projection is down to 10%. That right there, gentlemen, is the damage done and the only way HashFast can possibly compensate for those yield losses is by eating into their previous, current and future profit margins.

I'm not saying that it was the more advantageous trade. I'm saying that a missed opportunity is not the same as a loss.


At the time DPR got arrested I thought BTC was more likely to hit $50 than $1000. So I decided to leverage and stay with USD and not invest in BTC. I was totally wrong of course, BUT I didn't lose any money. I can sell (or refund) my BabyJet now for more than I paid for it, and probably also still mine more than I paid for it.

You guys however decided that investing in BTC was a great idea at that time, and you were right. However, you lost money.

Funny how that works out.

Not necessarily. ASIC miner hardware would have been cheaper as a result of bitcoin being cheaper, but not that much cheaper. The price still has a floor that is controlled by the hardware manufacturing process. So you'd be able to sell a 400ghs miner for let's say $3500 on ebay (as opposed to getting ~ $7000 today).

So buy a miner for 60 BTC, sell it for $3500 and then buy 70 BTC with it.

Of course that wasn't the case, so this is speculation.

*facepalm*

yes, quite, just as the last 2 posts state.

I'm not a day trader, I believe in BTC and I'm invested for the long term.
I lost my ass in BTC betting on 2 scamming miner manufacturers, and I use that term very loosely, and now I'm done.
I've contributed all I can afford to the security of the network so no more miners for me, I will buy BTC whenever possible and hodl.

Yup. Unless you get into touchy feelies soft valuations of your contribution to the Bitcoin network security (which you probably shouldn't unless you're running and mining on your own node), there is no scenario where a miner which produces less in Bitcoin than you could have had instead is to your advantage.

No, you are wrong. If BTC fell from $100 to $50, buying BTC still would have been the better investment.

You would buy a BJ for 60 coins, and earn back, lets say, 10 coins. You spent ~$5750 and ended up with $500.

If you had bought BTC, you'd have 60 BTC, and at the end it would be worth $3000. Still the better investment.

Not quite.

Not buying something is not the same as taking a loss.

That's like saying everybody who bought BTC last year April for $100 and sold it later at $1000 made a 90% loss because if they instead bought TSLA June calls at that time they would have gotten $10'000 instead.

Hindsight is 20/20. It wasn't foreseeable that the rise would happen at the time it did. If BTC instead fell from $100 to $50, the hardware (even though it's late) would have been the better investment. Just because there were better investments available in hindsight, doesn't mean your investment was a loss.

If your personal risk tolerance is such that you don't like to hold on to BTC, then the BabyJet might still possibly be kind'a profitable-ish, even if BTC stays the same value from now on. For that matter, you can probably just sell your BabyJet on eBay as soon as you receive it and make a USD profit. That is still not a loss.


Now starting off with 60 BTC and intending to make back BTC on the other hand, is a different story. But only if you had the stomach to watch it rise all the way from $100 to $1000 without selling it. Most people would have liquidated after it doubled. 24 hour markets unfortunately makes it very tempting to take profit.


PS: Your genesisblock calculation assumes the equivalent of 110'000 KNC Neptunes (or 600'000 KNC Jupiter class hardware etc.) shipping over the next 6 months. I find that to be unlikely.

Mum's the word.

Come on HF, the MPP ROI calculation window has ended for Batch 1 customers (with pitiful results due to the delays of the original hardware). Live up to your promises. A ROI calculation does not make sense if you send out the additional modules at some arbitrary date in the future.

this^
even if hf ships 1600 ghs mpp at the end of Feb (lol) he will still only get ~6BTC per machine in 6 months, not even close to the 61BTC he could have bought for the usd cost of each machine. I'm no investment expert but a 90% loss is not a good investment no matter which way you try to paint it.
I feel sorry for those that don't understand this.   

http://thegenesisblock.com/mining/a/1242f44435
http://thegenesisblock.com/mining/a/15b1795a9f


btw joshv06


if anyone was opportunistic in this cluster-fuck of a trainwreck it would be the liars who tried to build a company by deceiving customers with over-priced 90 day late delivered miners that were slower and used considerably more power than promised.
that tends to piss off rationally thinking people who are less than thrilled about a 90% loss.
many of the people that paid in BTC decided to discourage such unethical scamming lying so called businesses and "lawyer up".
or you could just choose to bend over and capitulate and keep enabling scammers like bfl, avalon, and hf.
good luck with your expected profits.   

If you bought a full unit you may have received it, and may be waiting much longer, for something that is so outdated now it will never make back anywhere close to the original investment. Not even if you paid usd for it, without the price going way way up...

Has anyone been able to get out of HashFast the details of the MPP yet? Like.. when/what/where/how??

Thanks in advance. 

I'm even more confused than most.

Like many others, I got an e-mail from HashFast yesterday asking to confirm my shipping address "before we ship your order".

I wish I knew what order they were talking about. It could be:

- My batch 1 upgrade
- My batch 2 order
- The MPP for my batch 1 order
- Or maybe even a late e-mail that was meant to be sent before my batch 1 was shipped (it's already arrived).

It seems other people are likewise confused.

Congratulations on getting your units and possible upgrades people. I wish I bought a full unit instead of group buy that wants there BTC back.

Happy mining

Its not only a problem of having paid in BTC or not, its more about how much coins will these miners mine in their rational lifespan. I hope you make more than 50% of your investment back, honestly.

Someone outside America already receive a unit from Scamfast?

It definitely was just for a BabyJet (Batch 1) in my case. Not the upgrade.


They added a reference number to the UPS shipment that is of the format:

(My-BabyJet-Batch1-OrderNumber)-BJET


It doesn't look like it actually shipped today though. They just printed a label for it

There are some things on this that may not be Batch 1 orders.

http://flightaware.com/live/flight/FDX131

Sounds like upgrade kits are prepping for shipment.

I paid in USD. And I sell the coins I make for USD. I feel sorry for those that paid in BTC.

Can anyone confirm what these shipment emails are to B1 customers? I got an email asking to confirm my email.

I paid for 12 upgrades.