i have 2 BFL single SC and a jalapeno on the way. Thinking about getting a bASIC 54 some time this week too. think it's a good idea? 
no
Topic: Is it even worth it to buy/order an ASIC single now? - page 3. (Read 13879 times)
no
i have 2 BFL single SC and a jalapeno on the way. Thinking about getting a bASIC 54 some time this week too. think it's a good idea?
It's definitely still worth it...
One thing I have going for me is free electricity and Internet service. I could operate my mining rig remotely. I've never seen so many people put out thousands of dollars for something that hasn't even been made yet. It brings a whole new meaning to the word "pre-order". I guess when dealing with money, people certainly act different. Just the lure of making some money in the first few months when the new ASIC's drop apparently makes people drop a ton of money to some company with no guarantees. Nothing else exists like that in the world, except with drug dealers maybe. 
I guess I may order a couple SC's when they are actually available. I left BFL a couple of messages weeks ago and have not heard a peep from them. Just imagine a few of their employees, getting those first ASIC units, taking them home. I know I would.
I guess I may order a couple SC's when they are actually available. I left BFL a couple of messages weeks ago and have not heard a peep from them. Just imagine a few of their employees, getting those first ASIC units, taking them home. I know I would.
U are right about that... i am sceptical about this issue to, lots of people put there savingings into this, strange but we will see in about 2 or 3 months, if it is for real then i need even more questions to be askbefore putting my btc or money in to it... how about the reliability of these divices are they tested for this, how long can they do 24/7 how about spare parts ect. ect. what are the guarantees of these products...it,s al unknown yet thousands paid ahead for them..smart or naive??
Amen, Sam! Hurray for us poor people! 
If you've got the money for massive hardware preorders, you've got enough money! Just buy the bitcoins, don't mine them, lol.
If you've got the money for massive hardware preorders, you've got enough money! Just buy the bitcoins, don't mine them, lol. 
One thing I have going for me is free electricity and Internet service. I could operate my mining rig remotely. I've never seen so many people put out thousands of dollars for something that hasn't even been made yet. It brings a whole new meaning to the word "pre-order". I guess when dealing with money, people certainly act different. Just the lure of making some money in the first few months when the new ASIC's drop apparently makes people drop a ton of money to some company with no guarantees. Nothing else exists like that in the world, except with drug dealers maybe.
I guess I may order a couple SC's when they are actually available.
I guess I may order a couple SC's when they are actually available.
I was wondering if you were going to return or not. Now you've posted something I agree with. It is strange and a bit of a leap of faith. But that has been the nature of Bitcoin from the get go.
If you can afford a couple $1.3K SC's your much richer than me, so I hope if they come to fruition that they help you get richer. I'll muddle through with a couple Jalapenos when/if they come through.
Sam
One thing I have going for me is free electricity and Internet service. I could operate my mining rig remotely. I've never seen so many people put out thousands of dollars for something that hasn't even been made yet. It brings a whole new meaning to the word "pre-order". I guess when dealing with money, people certainly act different. Just the lure of making some money in the first few months when the new ASIC's drop apparently makes people drop a ton of money to some company with no guarantees. Nothing else exists like that in the world, except with drug dealers maybe.
I guess I may order a couple SC's when they are actually available. I left BFL a couple of messages weeks ago and have not heard a peep from them. Just imagine a few of their employees, getting those first ASIC units, taking them home. I know I would.
I guess I may order a couple SC's when they are actually available. I left BFL a couple of messages weeks ago and have not heard a peep from them. Just imagine a few of their employees, getting those first ASIC units, taking them home. I know I would.
OP, I think you're right. you can wait for the sharp price declining of the ASIC mining rigs.
I seriously doubt that. The payoff period would be around 3 months tops and that's at almost 9x the current total hashing power of the network (so 9x difficulty). No GPU or FPGA that I know of past or present could beat that. So I think $149 is where the low end ones are staying. 
People need to remember that Bitcoin is still in an experimental beta phase. If Bitcoin survives to version 1.0, make your educated guesses then.
OP, I think you're right. you can wait for the sharp price declining of the ASIC mining rigs.
I've seen no good news about a guy that just wants to run a single rig at his house to have some fun, make a little BTC to pay off the rig.
I think the days of the hobbyist miner are gone.
No. Hobbyists will still have a place.
You have to understand that when you spend $1 on an ASIC product, whether it is on a tiny Single SC, or on a large MiniRig SC, you get roughly the same amount of mining performance: respectively 31 and 33 Mhash/s. Therefore, large or big miners generate similar amount of profits.
And in fact, small miners are generally more profitable than large miners, as they don't have overhead costs. Eg. the teenager mining on the family PC does not pay directly for electricity (his parents do) and does not have to rent space in a datacenter to host his hardware.
The biggest unknown here is how quickly the ASICs ship. If the majority of preorders (up until the end of October) can be filled within a few weeks then you have a fighting chance of recouping your investment. Otherwise it's anyone's guess (and the odds aren't great).
Butterfly Labs says in its FAQ they're in the hardware business therefore don't keep the ASICs and mine for themselves. Complete nonsense. They're just following the age old example of gold rushes where the only people guaranteed to make a lot of money were the ones selling shovels, and other mining related hardware. Most prospectors went away empty handed.
We're the miners and BFL is selling the shovels.
Butterfly Labs says in its FAQ they're in the hardware business therefore don't keep the ASICs and mine for themselves. Complete nonsense. They're just following the age old example of gold rushes where the only people guaranteed to make a lot of money were the ones selling shovels, and other mining related hardware. Most prospectors went away empty handed.
We're the miners and BFL is selling the shovels.
and the best part is.. in modern day the "shovels" were bought and paid for months ago
So really, they are selling "shovel futures"....
The biggest unknown here is how quickly the ASICs ship. If the majority of preorders (up until the end of October) can be filled within a few weeks then you have a fighting chance of recouping your investment. Otherwise it's anyone's guess (and the odds aren't great).
Butterfly Labs says in its FAQ they're in the hardware business therefore don't keep the ASICs and mine for themselves. Complete nonsense. They're just following the age old example of gold rushes where the only people guaranteed to make a lot of money were the ones selling shovels, and other mining related hardware. Most prospectors went away empty handed.
We're the miners and BFL is selling the shovels.
Butterfly Labs says in its FAQ they're in the hardware business therefore don't keep the ASICs and mine for themselves. Complete nonsense. They're just following the age old example of gold rushes where the only people guaranteed to make a lot of money were the ones selling shovels, and other mining related hardware. Most prospectors went away empty handed.
We're the miners and BFL is selling the shovels.
and the best part is.. in modern day the "shovels" were bought and paid for months ago
So uh, if you get some asics going now. You're good for the next 8 years
Don't believe that for a second. The current round of ASICs are good for maybe 1 year. 2 years tops. By then newer, faster, cheaper, more efficient ASICs will be available, making these 1st gen ASICs just as obsolete as the latest FPGAs will soon be.
1) New ASICs will come out, and they will be more efficient. But they will NOT make current ASICs "just as obsolete" as the latest FPGAs will soon be. The jump in efficiency between FPGAs and ASICs is projected to be along the lines of going from 100MH/watt to 1,000MH/watt - about a 10x increase in efficiency. The jump in efficiency between current-gen ASICs and future-gen ASICs will be wholly due to decreased process size, and would likely see no more than a 45% increase in efficiency over the course of a year, if Moore's law is to be believed.
2) Your statement also assumes that mining income will stabilize to the point where revenues = no more than 200% of the variable costs, if they would be obsolete by a 100% increase in efficiency over the course of two years. The volatility of the price of Bitcoin (and thus, the profits from mining) makes such an assumption completely unreliable.
i have free electricity. planning to get 1 bASIC and a SC Single and run them at my company.
Surely, profitability is a function both of the network difficulty level and also the exchange rate if you're cashing out into fiat immediately. Obviously, early adopters are rewarded for having taken the risk of the early plunge.
If I could dig up the $30k I'd be seriously tempted by the ASIC minirig. Somehow, though, I can't see any bank lending me that.
I tried - they asked what the loan would be for, I explained mining, and they promptly sent back a professionally courteous email saying my laon request had been denied. If I could dig up the $30k I'd be seriously tempted by the ASIC minirig. Somehow, though, I can't see any bank lending me that.
You told them the TRUTH?
? I told them mine was for my poor mother who needed a hernia operation ... 
You got two months to put together gpu rigs for about 1500 and you can get some btc fast. Then sell the hardware to recoup some costs. If elect costs are low you will come out ahead.
The time for building a GPU rig has passed. You won't have enough time to recoup a fraction of your costs, and the market for used 5970s and 7970s is going to be flooded in about 2 months.Thats assuming ASIC's are delivered on time and history shows us they probably won't be...
I would only mine if I had free electricity
So uh, if you get some asics going now. You're good for the next 8 years
Don't believe that for a second. The current round of ASICs are good for maybe 1 year. 2 years tops. By then newer, faster, cheaper, more efficient ASICs will be available, making these 1st gen ASICs just as obsolete as the latest FPGAs will soon be.
Do the ASICs only work for the main branch of the block chain. If it there is a major fork down the road, will that cause everyone to pile into the branch that the ASICs don't work on and thereby fragment the whole bitcoin system?
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