is KNC miner a scam
I mean 350g/h sounds rediculous to me for their jupiter mining device, infact why would they even bother silling them, they would make more money mining,
I mean 350g/h sounds rediculous to me for their jupiter mining device, infact why would they even bother silling them, they would make more money mining,
Not really. This is true for a short time, when there is a disruptive change in technology, as it just happened with the first ASIC - those machines create such an unbalance in the network dynamics, that the profit in running them is HUGE. Thus, you either sell them at a crazy price, or you just mine yourself.
If you were around before ASICs, you will know that mining has always been only marginally profitable. It's a very competitive business, where the profit basically lies in having free electricity and free storage, if your operational costs are above average you mine at a loss - because the market self-regulates itself.
Most of the time selling spades is more profitable than digging for gold, with some notable exceptions, as we had since February for the few folks that had the ASICs. As soon as the ASICs spread, network difficulty will balance, and everybody will be fighting for pennies again, as we did with GPUs and FPGAs.
If you have the luck to be in the front line during the change to a disruptive technology (FPGAs -> ASIC), of course it's more profitable to mine yourself. But once the market settles and difficulty adjusts to this new technology, long-term is much more profitable to sell the hardware and let the miners fight for their pennies.
The fact is that the (short) window in which mining with ASICs meant huge profit is finishing.
