people buying used miners | Bitcointalksearch.org

ajareselde

legendary

Activity: 1722

Merit: 1000

Satoshi is rolling in his grave. #bitcoin

Quote from: thresher on March 16, 2014, 10:06:32 AM

I don't get it.
Perfect example is the 336 mhs usb one. It is not worth more than $2 under the most ideal circumstance (free power.)
Yet they sell for anywhere from 5-15 and actually move.
Wtf Huh

Are the parts valuable or something?
At the rate these used mienrs move, they are going to rip more people off than mt gox Shocked

(ok exaggeration.)

definetly not worth it with block eruptors anymore

.

IamCANADIAN013

hero member

Activity: 714

Merit: 503

Quote from: Bryanrobh on March 28, 2014, 04:34:23 PM

I am a noob to mining and I am have been reading. I first started reading about the block eruptors and thought it would have been a cool setup but then thought twice about it when I read somewhere on here if you are not mining upwards of 200 Gh/s it isnt worth it. Then I fgured the cost of making a rig that would put out that kind of power with eruptors and the cost isnt worth it. So I found the Antminer S1 Dual Blade. I see them around $700. I was wondering for anyones opinion on this machine actually making its money back with say litecoin and a rate of .08 Kw/h electricity costs. I was trying to use one of the calculators I found but I wasnt sure I was entering the correct info. Thanks in advance.

You can't mine Litecoin with an antminer S1. Litecoin is a scrypt coin and the S1 can only mine SHA-256 coins. As for making your money back mining Bitcoin, not likely.

Bryanrobh

newbie

Activity: 3

Merit: 0

I am a noob to mining and I am have been reading. I first started reading about the block eruptors and thought it would have been a cool setup but then thought twice about it when I read somewhere on here if you are not mining upwards of 200 Gh/s it isnt worth it. Then I fgured the cost of making a rig that would put out that kind of power with eruptors and the cost isnt worth it. So I found the Antminer S1 Dual Blade. I see them around $700. I was wondering for anyones opinion on this machine actually making its money back with say litecoin and a rate of .08 Kw/h electricity costs. I was trying to use one of the calculators I found but I wasnt sure I was entering the correct info. Thanks in advance.

jiangkand1

newbie

Activity: 42

Merit: 0

The idea is not the same for everyone, think it is worth it will start up!

JayRobo

newbie

Activity: 54

Merit: 0

Do you guys think there will be uses for the Old generation of ASICs in the future? Act as nodes for processing transactions?

IamCANADIAN013

hero member

Activity: 714

Merit: 503

Quote from: Gate559 on March 27, 2014, 12:34:29 PM

Well most miners could be considered used. I'm not sure why people buy from ebay while they are cheaper in China. Yes it takes longer but is +50% price justifying few days of delay? Maybe if the seller is from your country and in the end you don't pay VAT...

For some people it is a lot more convenient to pay with a credit card than it is to pay with Bitcoin. For some, buying coin isn't all that easy. It's also a way for people to buy equipment without having the money up front. It's not a smart way to do it, but thats how a lot of people use credit cards. Buy now, pay for it later.

Gate559

newbie

Activity: 18

Merit: 0

Well most miners could be considered used. I'm not sure why people buy from ebay while they are cheaper in China. Yes it takes longer but is +50% price justifying few days of delay? Maybe if the seller is from your country and in the end you don't pay VAT...

Gate559

newbie

Activity: 18

Merit: 0

Quote from: nlsupernova on March 25, 2014, 10:06:39 AM

if you need a rise in btc prices to roi your miner you shoulnd`t buy it. just buy some btc and hold it. buying a miner only makes sence if it wil produce more btc then you can currently buy with that money.

+1

although if you don't plan on buying with fiat but the price drops suddenly like it is now and you decide to invest you could calculate your ROI starting from your initial fiat investment. I know, it's just mental acrobatics but still...I don't like to buy low but I like to invest low.

er.arpit

newbie

Activity: 28

Merit: 0

People want to try first.. I personally wanted to do a POC on bitcoin mining before investing couple of thousands, so i bought "block eruptor asic miner cube", used it for 1 week and sold it for 80% of my buying price.. Yeah so that's the premium i paid to test the concept.

IamCANADIAN013

hero member

Activity: 714

Merit: 503

Quote from: anyone4u on March 19, 2014, 11:08:31 PM

Quote from: BitcoinWebHostingRatings on March 17, 2014, 03:53:33 AM

lol its all noobies that are being introduced to mining. Some People I know buy them for fun, though just 1-2 for entertainment

entertainment purposes = wow, look every month i'm loosing money to energy cost and I overpaid for the amount of coins I am getting? wtf

Not everyone pays for power though. Who knows, maybe they just like getting stoned to trip out on the flashing light, LOL!

Nothing wrong with people willing to overspend on outdated mining hardware, it helps to keep the ROI possible.

Und3rd0g

full member

Activity: 231

Merit: 100

Quote from: nlsupernova on March 25, 2014, 10:06:39 AM

if you need a rise in btc prices to roi your miner you shoulnd`t buy it. just buy some btc and hold it. buying a miner only makes sence if it wil produce more btc then you can currently buy with that money.

+1

nlsupernova

member

Activity: 98

Merit: 10

if you need a rise in btc prices to roi your miner you shoulnd`t buy it. just buy some btc and hold it. buying a miner only makes sence if it wil produce more btc then you can currently buy with that money.

go4nature

member

Activity: 70

Merit: 10

Still many people think that bitcoin rice will reach $10000 with in two years.They just want to get in to mining. But they don't understand the current situation.

EvilPanda

hero member

Activity: 658

Merit: 500

Small Red and Bad

Quote from: flounderella on March 22, 2014, 09:41:04 AM

Quote from: Relnarien on March 22, 2014, 12:39:58 AM

If you're mining Bitcoin with USB ASICs, then you're doing it wrong. There are other SHA256 coins which offer a faster RoI. Mining newly launched coins for speculative purposes also speeds up getting your RoI by at least a factor of 5 (based on my experience, not generalized facts).

I like to have one or two of my old USBs solo mining. I know I know, the odds are ridiculous but just for fun

Good job. Those USB miners are also great gifts that introduce people into mining

I gave some of my units to friends to let them experiment and decide if they want to invest.

nlsupernova

member

Activity: 98

Merit: 10

Quote from: jeppe on March 24, 2014, 07:45:08 PM

for the people selling on ebay you have to add the fees.

In auction prices are also often insane, and those are set by buyers who dont care about the sellers fees.

jeppe

sr. member

Activity: 434

Merit: 251

for the people selling on ebay you have to add the fees.

nlsupernova

member

Activity: 98

Merit: 10

People who pay those prices are often new miners who dont understand the difficulty.
And the fact that most calculators only show current revenue. Or even worse, just multiply current value into the future. Asuming a year from now a miner makes the same amount of btc per month as it does now.

The only decent calculator i found until now is on the second page of google. The rest of the calculators are garbage or plain misleading. But most people use the ones on top of googles listings and are paying prices based on false information.

waldox

sr. member

Activity: 252

Merit: 250

met a few miners at the local bitcoin meetup

there are miners who learned about bitcoin and want to contribute, or want to try it out for fun, so they spend a couple hundred to check it out

bitcoin is a movement and it engrosses people who learn about it.

money is a side effect for many people.

tzortz

hero member

Activity: 728

Merit: 500

Quote from: phillipsjk on March 22, 2014, 11:23:55 AM

Quote from: johnsl on March 21, 2014, 06:33:50 AM

The residual value from selling the BEs on Ebay is by far the most significant factor in their current value - so sell 'em while they're still worth something.

They may have some collector's value as well.

When bitcoin is over , you mean?

phillipsjk

legendary

Activity: 1008

Merit: 1001

Let the chips fall where they may.

Quote from: johnsl on March 21, 2014, 06:33:50 AM

The residual value from selling the BEs on Ebay is by far the most significant factor in their current value - so sell 'em while they're still worth something.

They may have some collector's value as well.

Topic: people buying used miners (Read 4738 times)