Quote
Mining just slows the creation of new bitcoin
Topic: Miners DUMPING their ASICs - page 3. (Read 6213 times)
Can the bitcoin price stay low for a while to discourage new ASIC investment PLEASE and let us get good use of our current hardware? Sorry for all you nerds who bought BTC at $800, but some of us have bought a crapton of mining equipment back when the diff was ~2Billion.
I dream of a 5% difficulty increase in a cycle in April
hahaha.
I dream of a 5% difficulty increase in a cycle in April
hahaha. 
Miners are dumping their asics on daily basis the number of asics on sale is significantly on the rise.
Bitcoin mining is collapsing . there will only be few data centers left it will be so centralized might as well rename bitcoin to Bitripple in the near future.
You actually think the ones buying the old generation of used hardware are data centers? Or did I just feed a troll? Bitcoin mining is collapsing . there will only be few data centers left it will be so centralized might as well rename bitcoin to Bitripple in the near future.
My kingdom for a mining company that doesn't do pre-orders.
Ships immediately.
I know, i know. You can stop laughing.
Ships immediately.
I know, i know. You can stop laughing.
Miners are dumping their asics on daily basis the number of asics on sale is significantly on the rise.
Bitcoin mining is collapsing . there will only be few data centers left it will be so centralized might as well rename bitcoin to Bitripple in the near future.
Bitcoin mining is collapsing . there will only be few data centers left it will be so centralized might as well rename bitcoin to Bitripple in the near future.
They will become heaters in Nordic country
Or Canada ...
Yes there is offloading of older asics going on out there. I let go of my avalon batch 2 finally. Thats all profit
They will become heaters in Nordic country
I had 3 Block Erupter Cubes running through February and March and they kept my large living room at about 72 degrees consistently. My heater never kicked on.
I bought the three off Ebay for $1040.00. I sold them for $795. I made .24BTC. I paid ebay 10% of the $795.
-1040+795-79+(.24*450current BTC= -216.00
Not Profitable at current BTC price!
BTC was around $800 I think. If I bought 1.25BTC for $1000, I would be underwater $440.
Less Profitable at current BTC price!
It's a gamble either way
They will become heaters in Nordic country
people make more btc = more likely to sell it at a lower price
people make less btc = more likely to sell it at a higher price
it's simply economics folks!
people make less btc = more likely to sell it at a higher price
it's simply economics folks!
Now is mining factor about 3.5 cent/Gh at 24h,
What will happen when the drops below 1 cent/Gh at 24h ?
I warned 17.dec 2013 year: https://bitcointalksearch.org/topic/m.4014576
What will happen when the drops below 1 cent/Gh at 24h ?
I warned 17.dec 2013 year: https://bitcointalksearch.org/topic/m.4014576
Because now the profitability with asics is not good.
Sold my cubes at low USD (eBay) prices and bought BTC and picked up a bunch of Antminers (ninja tech). Sell low buy low, and there's still a spread on selling through eBay but buying more direct sources with BTC. In the end, mining is a long-term play and selling equipment low will just help with claiming losses anyways. You might see selling, but lots of those sellers might be buying with the proceeds from sales... I'm psyched, got out of my high-heat units before summer, got more revenues a, less heat and less power consumption, essentially exchanged through selling.
"Profitability" only matters if buying with BTC, the unit should be able to mine back more BTC than it cost. Everyone makes this mistake though- when a unit is purchased with USD the profitability is based entirely on a speculative value of Bitcoin. In fact, now that the IRS wants everything recorded in terms of USD even the BTC purchases are measured in terms of dollars. You cannot measure profitability accurately in any way with something like BTC, the further out you forecast the less accurate it will be. I have no idea why people constantly measure this shit based on present exchange values, we are speculating, the whole point is the uncertainty is priced in and nobody knows what units will end up profitable.
There definitely has been a clamor to sell at "low" prices with the intent to buy at "lower" prices. But yes, in the end, mining is a long-term play and the sale of equipment is a factor is making ROI. Now it's a matter of consolidating equipment to address many factors that are upcoming in the next few months (a new generation of ASICs, the impending summer months, and speculation on the BTC conversion rate). "Profitability" only matters if buying with BTC, the unit should be able to mine back more BTC than it cost. Everyone makes this mistake though- when a unit is purchased with USD the profitability is based entirely on a speculative value of Bitcoin. In fact, now that the IRS wants everything recorded in terms of USD even the BTC purchases are measured in terms of dollars. You cannot measure profitability accurately in any way with something like BTC, the further out you forecast the less accurate it will be. I have no idea why people constantly measure this shit based on present exchange values, we are speculating, the whole point is the uncertainty is priced in and nobody knows what units will end up profitable.
] Guys it's going to be game over soon. I just read an article explaining how bitcoin is going to reach negative values and bagholders are going to have to pay people to take bitcoins off their hands: http://finance.yahoo.com/blogs/talking-numbers/this-could-be-the-end-of-the-bitcoin-era-220746326.html
First people were dumping their ASICs and now this. Oh what shall we do?
On a more serious note, it's no surprise that next-gen mining hardware will make the previous generation obsolete. Some of those people buying these unprofitable ASICs probably don't pay for electricity, and may yet see an ROI.
First people were dumping their ASICs and now this. Oh what shall we do?
On a more serious note, it's no surprise that next-gen mining hardware will make the previous generation obsolete. Some of those people buying these unprofitable ASICs probably don't pay for electricity, and may yet see an ROI.
wow... just watched the video. some notable quotes: "bitcoins can be created indiscriminately by the (bitcoin)community" and "bitcoins may be -$100 someday"
You both didn't notice that it's dated April 1st.
Sold my cubes at low USD (eBay) prices and bought BTC and picked up a bunch of Antminers (ninja tech). Sell low buy low, and there's still a spread on selling through eBay but buying more direct sources with BTC. In the end, mining is a long-term play and selling equipment low will just help with claiming losses anyways. You might see selling, but lots of those sellers might be buying with the proceeds from sales... I'm psyched, got out of my high-heat units before summer, got more revenues a, less heat and less power consumption, essentially exchanged through selling.
"Profitability" only matters if buying with BTC, the unit should be able to mine back more BTC than it cost. Everyone makes this mistake though- when a unit is purchased with USD the profitability is based entirely on a speculative value of Bitcoin. In fact, now that the IRS wants everything recorded in terms of USD even the BTC purchases are measured in terms of dollars. You cannot measure profitability accurately in any way with something like BTC, the further out you forecast the less accurate it will be. I have no idea why people constantly measure this shit based on present exchange values, we are speculating, the whole point is the uncertainty is priced in and nobody knows what units will end up profitable.
"Profitability" only matters if buying with BTC, the unit should be able to mine back more BTC than it cost. Everyone makes this mistake though- when a unit is purchased with USD the profitability is based entirely on a speculative value of Bitcoin. In fact, now that the IRS wants everything recorded in terms of USD even the BTC purchases are measured in terms of dollars. You cannot measure profitability accurately in any way with something like BTC, the further out you forecast the less accurate it will be. I have no idea why people constantly measure this shit based on present exchange values, we are speculating, the whole point is the uncertainty is priced in and nobody knows what units will end up profitable.
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