Topic: here's just how screwed ASIC buyers are - READ THIS if you have a preorder - page 2. (Read 23377 times)

Why even bother with bitcoins..... shove your money into the stock-market for the day when you see an opportunity.

Why do they need to move to ASIC? They can just say: screw mining. If they want coins, they can just put a risk-free bid on one of the markets.

What I mean is some gpu users are too wary of the ASIC. Most of them believe th ASIC will never come. They could ahve point. But when it does. Most gpu miners will need to move to ASIC.wha to mean is this post is a load of rubbish. ASIC miners areant screwed. Lol what did the CPU miners think of it when gpu mining became possible?

Yuuuuuuuuuuuup +1

I'm sure the vast majority of ASIC pre-orders originated from former/current GPU & FPGA miners, they're not exactly backing into this with blinders on.

Anyway, if BTCFPGA ships on schedule and BFL delays shipping one more time, those early bASIC pre-orders will pay out months of GPU mining worth of BTC in days before difficulty increases much. Certainly not everyone is screwed equally.

Maybe you don't understand the comparison then. I am just wondering why or how a GPU miner who thinks that "ASIC is screwed" is in trouble. As I said, most GPU miners have already mined (lots of) Bitcoins. ASIC miners have not. GPU miners were the real early adopters and ASIC miners are the wanna-be early adopters (caveat: an overlap will exist). On average total earnings of an ASIC miner will never exceed that of a GPU miner.

It's like a poor guy with a lottery ticket for a million dollar jackpot saying to a rich guy, that he is screwed because he has less money than the poor guy might win.

You're not comparing apples with apples here.

How are they in trouble? Most GPU miners have mined more Bitcoin than the average ASIC miner ever will.

Tis post is awesome.
Everyone cancel your ore orders now.
I can be the only ASIC buyer. I will den be rich .
ASIC buyers ain't screwed. Gpu users who think ASIC is screwed up are in trouble. If ur rig can't reach 4 ghash your below the cheapest and slowest ASIC.

About the only correct point was the last one... other than that your statement shows a fucking tragic lack of REAL research...........
An example:
http://www.cast-inc.com/ip-cores/encryption/sha-256/cast_sha256.pdf

ANOTHER example:
http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.106.5391&rep=rep1&type=pdf

No.
 

You were right.


No it doesn't.


No they won't.


Correct.

Bingo! Unless of course you keep discussing it, do lots of calculations and bash everyone who points out you are wrong.

Haven't been following for the past few months. So these ASICs are still happening? I was under the assumption this whole thing was a huge scam. This thread pretty much confirms that they'll happen, but basically since everyone will have one, then no one will profit.

@the moment the onlyones making the BTC thus money are the GPU rigs fpga,s ect.
@the moment the ASIC doing 0 BTC

in 4 weeks 80% precent of easy BTC are mined after halvingday de marketprice will decide if people keep there gpu,s on the net.. the time between this and the ASIC shipments the diff could go down..good for the gpu owners doing 10gh+ and already payed off there complete rigs ...when IF ASIC get shiped in 2013 we will see what happens but the next few moonths will be very very intresting...GPU en fpga rigs are still no1 as we speak...

Imagine how screwed people with GPUs are.
Considering this (GPUs, and things near their speed) are the only alternative, if you want to keep mining youll have to switch to ASICs.

50 * 1.4 = 70 , not 28.

... or store online in wallet or .dat backup

Reading this made my head hurt, but I'm sure your heart is in the right place.

I'm not really following your calculations, so I'll just jump to the end, 50x the current difficult is 165,217,800; we can round that to 150,000,000 for you. ASICs will not be released until after the coin halving, by everyones estimate, so each block yields 25 coins for our calculation. 60GHash/sec mining on 150,000,000 difficulty will generate 1 block roughly every 5 months or so, yielding 25 bitcoins. If in 5 months 25 bitcoins are worth $11 each, that is $275, or roughly 1/5ths of the cost of a Single SC. So you would be able to repay your Single SC in approximately 25 months (2 years 1 month) at that difficulty.

Hope that helped, even if it was rough calculation.

I made a small speculation, the only thing what I dont know the difficulty thing, is the difficulty depedning by the total hash power? (this is how I get it and  calculated a bit)

So let's say after the ASIC's come out there will be a huge overhashing power in the network.
I estimated this at 50X so 50X ~28Thash/s (the total hash power at the moment) = 1,400 Thash/s =>

difficulty from 3, 000, 000 will be 50X this number so 150, 000, 000
so to jump to this difficulty we will need 1, 400- 28 = 1, 372 Thash power in the first day.
After this I devided this number in 60 Ghas so 1, 372, 000 / 60 ~ 22, 800 orders of a 60 Ghash/sec ASIC
like I saw there are just ~ 13, 000 orders so ~ 10 000 really offers that number is still the half of what I'm waiting for.

After this I putted this numbers in the TP calculator and got that at a 50X bigger difficulty time than now I can get my money back in 4 month. That's not bad if we think about that the difficulty will be rising exponentially and not linear (like I think because the curretn difficult rate will be much ower the power of the new Total hash power), so I can get the invested money still faster than Im waiting for.

So to sum up to get back the in 4 month the inveted money the avvarage of the tottal difficulty of the 4 month's difficulty should't be higher than 150, 000, 000.

Am I right? I would thank you very much if someone could correct me if I made somewhere a mistake, I couldn't mine ever, and now thinking to try it out, and wanting to buy a Little SC. What you think about this? 

What will push it up , is the Chinese.
They are absolutely shit scared the Government will take the money off them, consider the tax rate at 35% for anything over the income of a tramp.
They believe it is better to put all the money into the stock market or real-estate, because even if it crashes, then you end-up with exactly the same as if you gave 35% to the government.

However since the RMB is HIGHLY controlled and difficult to get out of the country, there is a very strong black market for bit-coin currency in China, potentially billions of $ as the government slowly gets on top of paypal and other more 'traceable' money transfer systems.
Bit coin allows you to buy bit-coins locally, carry a flash over the boarder and then re-cashout the money.