Topic: Should I Preorders Hardware? (Read 1480 times)

BFL has been involved in some really shady dealings.

The issue is not just with BFL miners it is with all miners that you preorder.

You don't know when exactly the machines will be delivered and you don't know what the difficulty will be in the future making it very difficulty to calculate what you need to pay in order to ROI

hmm, it's really depends view, some miner said if bought it hard to ROI,
but the other said easy to ROI,
my view is hard or easy to ROI just how we can manage our hardware, sometimes we must be a risk taker too,

I agree with all post above me in this tread ! unbelievable ..

No preorders just buy from reliable sellers like bitmain.

Risk only with the money, you can afford to loose, than learn the hard way lesson, than it is very rare cases, when preorder is a good thing.

BFL's junk would never ROI in BTC and sadly the Monarch (if ever delivered) may never ROI in even fiat.  Considering they starting taking pre-orders last year around this time I think they'll tell pre-order customers they can upgrade to the new "RandomButterflyName" which will be delivered in November 2014 (aka soon or Two Weeks).

In November of last year it would like as if BFL's 600 GH/s card would ROI in just a few months, but now 7 months later they haven't even started shipping (I think) and will likely now never ROI

More eyactly , pre-orders are cancer of your eventual profits, but yeah i definetly agree with you on this one.
You are betting two things that way, both your calculations that the miners are actualy ROI, and the time they should be in your hands.
Keeping in mind that diff. is increasing at astonihing rate, per-orders should be in anycase avoided.

agree, but seeing most of the manufacturer pre-order have been sold out makes me confused.

A common experience. 

Convincing miners to stop increasing their hashrates and buy BTC, well we would probably need a free-dial counselling service for miners, or like AA, group therapy to get miners to quit buying more miners.

We could all sit around a circle, yunno,

BTCBob: "I'd like to hand over the mic to Taipo to give a testimony"

Taipo: "Hi, my name is Taipo, I'm a mineraholic. Its been 25 minutes since I bought my last miner..."

BTCBob interjects: "What!!! You asshole, you mean you just bought one before you came to this meeting???"

Taipo: "Ah yeah...Bitmaintech dropped their S2s to 2.6 BTC....." ( checks cellphone for latest pool stats )

( BTCBob exits Mineraholics Anonymous and heads to cyber cafe to order another S2, followed by everyone else leaving Taipo shaking his first at his cellphone due to the bad luck on his pool of choice )

I have to agree with you on this. Buying and holding bitcoins is boring and leaves me with limited options. When do I exchange the bitcoins? What if next month the price will be double? With mining I feel a lot more flexible. I have a steady income and I'm somehow limited in doing mistakes by having just a part of bitcoins available and not all of them. If I make a mistake I will have more available in 1-2 weeks.

As for pre-orders I had Jupiters on pre-order, Neptunes on pre-order (refunded now) and now I have SP30 on pre-order. The company and the device are just too good to miss this opportunity and while we are all trying to stay above the difficulty curve I think that this is the best option that I have now. Instead of ordering in stock miners that need more than 1W/GH I preffer to pre-order a miner with less than 0.5W/GH and while waiting sucks and I would love to buy another SP10 I just can't justify buying another miner other than the SP30 right now.

Disclaimer: Yes I have an affiliate link in my sig from which I will donate hashrate to charities and to other bitcoin software developers and I am supporting SP-Tech. Feel free to blame me for supporting a long waited and great company.

Post of the month!

Preorders are the cancer of Bitcoin mining.  You may or may not get your hardware in time to get at least a little bit of your BTC back.  So many companies have run and delivered nothing that it's just not worth it.  Buy hardware that is shipping.  The ROI on preorders can look tempting, but you'll regret it when you end up with nothing to show for your coins

omg man you totally hit the nail on the head , I can't lie even though my small farm barely breaks even my dick gets hard each time i go to my basement and see all those busy little GPUs hashing away for me.  From speculating in new coin anouncments , boosthing efficency with new mods its crazy how addictive it is.  Heck i spent less time working at work than checking my pool stats to see how many coins I'm banking lol.

that is until my job blocked all my pools lol

Mining is an addictive habit.

Suggesting miners buy bitcoin instead of miners is a bit like suggesting drug addicts quit shooting crack and take up buying and holding it to resell when the price of crack went up.

Miners that would venture into trading fiat for BTC would probably initially hold until the value of bitcoin jumped enough or some other bullshit artist came out offering an eye popping preorder deal, for example offering a 20 TH/s miner that runs on 1000w, at which point they would drain their BTC wallets, their bank accounts and their mothers bank accounts to get THAT miner, nevermind whether the idea is even feasible, or whether the company developing it is even real.

I've come to the conclusion that due to the callousness of several mining manufacturers that have squandered the investment capital they were handed by way of preorders, that all manufacturers have to face reality of the actions of these few, and stop trying to build their businesses from scratch by tempting investors with overstated claims of machines they say they can develop.

The way to do that is for miners to stop preordering from companies that do not have proven histories. BITMAINTECH is the only company I know so far that have absolutely proven themselves in terms of manufacturing, shipping and upgrading their tech to further improve early flaws, and supplying solid miners without ever preordering. They may not have reached their original goal with the S1, but there is no doubt that it was a solid machine that stood the test of time and was hard to fault in its day.

If that company was to offer a preorder, which I doubt they ever would, people in droves would line up behind them to preorder because they have proven themselves beyond a shadow of doubt.

There is a large void between a company like that and some newbie MinerTechAdvancedDreamland company coming out of nowhere offering a preorder on some hair brained idea of theirs that has about a 5% chance of ever eventuating.

The good manufacturers will like Bitmaintech, never need to offer preorders, I am surprised Spondooleys do, but best just to say no, and wait for the product to actually be available.

One more thing to add to the list:
- if you preorder...as in...put money into a high risk business idea that someone else thought up across the other side of the world, whom you have never met, then please don't come back whining and snivelling here if you get shafted because that high risk experiment you handed your cash over to, failed.

Don't invest in mining equipment, it's really difficult to ROI, try the easiest way, just buy bitcoins and hold them long term.

Too late, I went in big on KnC Titans. Fingers crossed....

No.

If you are not willing to lose all the money you put into a pre-order then do not pre-order. Risk is relative and there are a few companies that do deliver on time and at specification from the a pre-order position. But agreed best advice never pre-order.


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Edit: Oh look I have my own personal spammer in every thread almost nice. Loshia here to quote and go off topic. See he hasn't learned to deal with the fact that old Marto is a con man. Simple solution to your hate there Loshia tell your Boss Marto to pay people what he owes no amount BS posts by you Loshia is going to hide the fact he has cheated people out of their money. The evidence is in the forums it won't go away no matter how much you spam me, about me or about the WPC. You keep going we will see in the end who is still a crook.