Topic: Prediction: The majority/all of ASICs will become worthless by mid-to-late 2014 (Read 1401 times)
February 05, 2014, 05:22:56 PM
thank you I am already litecoin mining pretty hard and I am sure I will sell my Bitcoin hardware soon enough.
February 05, 2014, 11:44:02 AM
Anything >1.5 GH/W you should sell now is my guess, you'll be able to buy 28 nm hardware for more or less nothing later this year so you can always buy back when hardware is actually priced reasonably.
Now is probably the time to sell Bitcoins and buy Litecoins or Peercoins too is also my guess, the former because ASICs are hitting the network and because block reward halving isn't far off, the latter because blockreward halving also isn't far off. I'm holding 1:1:1.
Now is probably the time to sell Bitcoins and buy Litecoins or Peercoins too is also my guess, the former because ASICs are hitting the network and because block reward halving isn't far off, the latter because blockreward halving also isn't far off. I'm holding 1:1:1.
February 05, 2014, 10:50:08 AM
I am considering selling my 4x 60 BFL miners. I have been mining with these ASIC since Nov. 2013 so I pretty much made a profit. I am still profiting now earning about 30.00 dollars a day after electric bill.
My concern is the market will be flooded with basically worthless ASIC in the next few months so I better so mining my last few Bitcoin cents before I start selling.
tacotime, do you think this is a good idea?
Or Should just mine all I can until the hardware is worthless?
I choose the first option is to sell before market flooded, but I want your opinion.
My concern is the market will be flooded with basically worthless ASIC in the next few months so I better so mining my last few Bitcoin cents before I start selling.
tacotime, do you think this is a good idea?
Or Should just mine all I can until the hardware is worthless?
I choose the first option is to sell before market flooded, but I want your opinion.
February 05, 2014, 10:26:45 AM
There are a lot of people complaining about centralization right now, but I doubt we'll run into the problem long term.
Here's why I doubt it'll be a problem:
http://bitcoincharts.com/charts/mtgoxUSD#rg60zczsg2011-05-01zeg2011-12-31ztgSzm1g10zm2g25zv
After the big 2011 boom, we got to the point where everyone had video cards and the price was slowly dropping, along with the value of those video cards.
At this time large scale miners who had previously been hoarding GPUs began selling them off en masse, redistributing the hardware.
It's probably going to be worse for ASICs, because they have no other purpose than Bitcoin. If the mining companies can't turn a profit mining with them themselves, they're going to dump them on consumers as hard and fast as they can -- bumping the prices down for us. As in 2011, this will likely be a temporary state and Bitcoin will eventually begin to surge again.
I suspect the mining companies may turn out to be big long term losers in this game.
Here's why I doubt it'll be a problem:
http://bitcoincharts.com/charts/mtgoxUSD#rg60zczsg2011-05-01zeg2011-12-31ztgSzm1g10zm2g25zv
After the big 2011 boom, we got to the point where everyone had video cards and the price was slowly dropping, along with the value of those video cards.
At this time large scale miners who had previously been hoarding GPUs began selling them off en masse, redistributing the hardware.
It's probably going to be worse for ASICs, because they have no other purpose than Bitcoin. If the mining companies can't turn a profit mining with them themselves, they're going to dump them on consumers as hard and fast as they can -- bumping the prices down for us. As in 2011, this will likely be a temporary state and Bitcoin will eventually begin to surge again.
I suspect the mining companies may turn out to be big long term losers in this game.
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