Miners DUMPING their ASICs | Bitcointalksearch.org

Shogen

legendary

Activity: 966

Merit: 1001

Quote from: STT on April 15, 2014, 09:22:12 PM

Can anyone explain to me why should the market care about difficulty. Does it affect the product or is it just a mining problem. Does BTC get more secure each time the diff rises or is this all like one of those tractor pulls
http://www.youtube.com/watch?v=N8QTprCYgD8

The higher the difficulty, the ASIC will generate less bitcoin for you.

The higher the difficulty (total network hashrate), it will be harder for someone to control >50% hashrate to launch a 51% attack.

smoothie

legendary

Activity: 2492

Merit: 1473

LEALANA Bitcoin Grim Reaper

Quote from: spazzdla on April 17, 2014, 10:31:00 AM

Dumping their gear at... OVER THE PRICE OF WHAT THEY BOUGHT IT AT...

...................... This is not dumping................ LMAO.

I know right?

OP seems to think that's a bad thing or bearish thing.

spazzdla

legendary

Activity: 1722

Merit: 1000

Dumping their gear at... OVER THE PRICE OF WHAT THEY BOUGHT IT AT...

...................... This is not dumping................ LMAO.

ChuckBuck

hero member

Activity: 1372

Merit: 783

better everyday ♥

Quote from: Wyatt on April 16, 2014, 11:24:46 PM

Still, no one has answered where they are dumping their ASICs?

I don't think there is a mass dump but some people have posted on here that they have sold, so where did you sell?

I want buy second hand (cheap) ASICs and I'm completely unimpressed with what I'm seeing on ebay.

You can look to the Goods:

https://bitcointalk.org/index.php?board=75.0

or Group Buys section:

https://bitcointalk.org/index.php?board=137.0

There's also https://cryptothrift.com/

Wyatt

newbie

Activity: 4

Merit: 0

Still, no one has answered where they are dumping their ASICs?

I don't think there is a mass dump but some people have posted on here that they have sold, so where did you sell?

I want buy second hand (cheap) ASICs and I'm completely unimpressed with what I'm seeing on ebay.

monsterasic

newbie

Activity: 16

Merit: 0

Many turned to Scrypt and soon there will be ASICs available too. Very soon Wink

gamersglory

member

Activity: 114

Merit: 10

No more Crypto in this world

It's simple really with the new Scrypt ASIC coming out. It's more profitable to mine Scrypt coins and trade them for BTC or hope that one of the fly by night coins get adopted

STT

legendary

Activity: 4102

Merit: 1454

Can anyone explain to me why should the market care about difficulty. Does it affect the product or is it just a mining problem. Does BTC get more secure each time the diff rises or is this all like one of those tractor pulls
http://www.youtube.com/watch?v=N8QTprCYgD8

Noruka

sr. member

Activity: 910

Merit: 253

Quote from: herebittybittybitty on April 06, 2014, 06:41:39 PM

Quote from: protokol on April 06, 2014, 06:39:41 PM

Well they must be getting bought by other miners then, how else do you explain the exponential graph?

The 1, 2, 3 TH machine pre-order dump is underway.

months ahead on that refund train

wemine

newbie

Activity: 56

Merit: 0

I don't think it's a wise decision buy rig now

smoothie

legendary

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LEALANA Bitcoin Grim Reaper

Quote from: thresher on April 12, 2014, 11:35:51 PM

Quote from: smoothie on April 12, 2014, 10:31:52 PM

1. Buy asics

2. Mine with it

3. Cash out some

4. Sell asics

5. Buy more coins with proceeds

lol

You must be smart. I used proceeds to buy more equipment to try and stay ahead in the mining race...:-P !

Quote from: amspir on April 11, 2014, 06:01:04 PM

Quote from: Cranky4u on April 10, 2014, 11:43:56 PM

Quote from: serenitys on April 06, 2014, 07:05:31 PM

Just curious, are you able to sell power back to the electric grid? If so, is it more economical to mine with old equipment than to sell your power back to the grid?

In US, my friend's parents gets roughly half the rate the power company charges them (they do not produce surplus in winter.) Now that he bought his own place and is moving out in August, maybe I can sneak my way in and offer them the same deal or maybe even a flat fee depending on how much they actually give back

. Only problem is people think my mining rigs are some illegal hacking machine or that they are going to burn the house down. Sad

Good luck with that. The Bitcoin mining arm's race is a losing battle for 90%+ of miners.

Easier to just HODL and not have to worry about paying electric costs, rental space, and also maintenance/upkeep when an ASIC crashes or errors out. Grin

thresher

hero member

Activity: 700

Merit: 500

Quote from: smoothie on April 12, 2014, 10:31:52 PM

1. Buy asics

2. Mine with it

3. Cash out some

4. Sell asics

5. Buy more coins with proceeds

lol

You must be smart. I used proceeds to buy more equipment to try and stay ahead in the mining race...:-P !

Quote from: amspir on April 11, 2014, 06:01:04 PM

Quote from: Cranky4u on April 10, 2014, 11:43:56 PM

Quote from: serenitys on April 06, 2014, 07:05:31 PM

Just curious, are you able to sell power back to the electric grid? If so, is it more economical to mine with old equipment than to sell your power back to the grid?

In US, my friend's parents gets roughly half the rate the power company charges them (they do not produce surplus in winter.) Now that he bought his own place and is moving out in August, maybe I can sneak my way in and offer them the same deal or maybe even a flat fee depending on how much they actually give back

. Only problem is people think my mining rigs are some illegal hacking machine or that they are going to burn the house down. Sad

smoothie

legendary

Activity: 2492

Merit: 1473

LEALANA Bitcoin Grim Reaper

1. Buy asics

2. Mine with it

3. Cash out some

4. Sell asics

5. Buy more coins with proceeds

lol

cowandtea

sr. member

Activity: 434

Merit: 250

Quote from: protokol on April 06, 2014, 06:39:41 PM

Well they must be getting bought by other miners then, how else do you explain the exponential graph?

Alot people pre-ordered ASIC and now the company are shipping their ASIC due to BTC price drop

spazzdla

legendary

Activity: 1722

Merit: 1000

Where are these sales..

amspir

member

Activity: 112

Merit: 10

Quote from: Cranky4u on April 10, 2014, 11:43:56 PM

Quote from: serenitys on April 06, 2014, 07:05:31 PM

And surely some miner out there has managed to figure out how to slash the overall expense by going solar... Huh

I did

I put my 2011 ~ 2012 BTC into a 1.5kW solar system. Now my modest rig, only a Jally and some GPUs as the solar array was not cheap, continues to mine. With the advent of ASICs, I have an abudnace of power but not enough $$$ for more mining rigs. Sad

Just curious, are you able to sell power back to the electric grid? If so, is it more economical to mine with old equipment than to sell your power back to the grid?

Cranky4u

hero member

Activity: 810

Merit: 1000

Quote from: serenitys on April 06, 2014, 07:05:31 PM

How is it going to lower prices? Mining just slows the creation of new bitcoin...the usefulness of it and the short supply is what gives it is market value...I'd imagine it would rise since they'd be more scarce.

Plus, given the exponential rate of computing power, eventually the machines will be better equipped to mine in a more productive manner.

And surely some miner out there has managed to figure out how to slash the overall expense by going solar... Huh

I did

I put my 2011 ~ 2012 BTC into a 1.5kW solar system. Now my modest rig, only a Jally and some GPUs as the solar array was not cheap, continues to mine. With the advent of ASICs, I have an abudnace of power but not enough $$$ for more mining rigs. Sad