Single BFL 5 GH/s ASIC worth it? - page 2.

ErebusBat

hero member

Activity: 560

Merit: 500

I am the one who knocks

Quote from: qwk on April 10, 2013, 12:05:00 PM

The one thing you should keep in mind:

You'll be very far down the line with your order.
Expect your miner to be delivered after ALL the other people already have theirs up and running.
Expect difficulty to have increased accordingly.

I know (sounds like July at the earliest)... that is why I am trying to find out exactly what a reasonable value is to account for.

qwk

donator

Activity: 3542

Merit: 3413

Shitcoin Minimalist

The one thing you should keep in mind:

You'll be very far down the line with your order.
Expect your miner to be delivered after ALL the other people already have theirs up and running.
Expect difficulty to have increased accordingly.

ErebusBat

hero member

Activity: 560

Merit: 500

I am the one who knocks

That is my point... I don't know what is a reasonable difficulty to plug in which i why I am asking people with more knowledge on the matter.

30m,50m,100m are those 'valid' estimates?

Quote from: k9quaint on April 10, 2013, 11:14:55 AM

Of course, the elephant in the room is that they may never deliver at all. But you declared that the elephant is not to be considered because it is large and gray.

That literally made me LOL. I am aware of the elephant; however the question I asked myself months ago: "Would I be willing to risk X coins on this?" the answer was no, no I wasn't.

However today I might be willing to risk 1.5 coins that they will deliver..... assuming that I won't be mining 0.000001 coins a day when it comes, which i what I am asking. I understand that no one really knows what the difficulty will be (esp because the hash rates of the ASICs have be 'adjusted'); however I know that there are smarter people than I who have extrapolated these things and have some sort or reasonable number that I can plug in and better make the decision.

k9quaint

legendary

Activity: 1190

Merit: 1000

Quote from: ErebusBat on April 10, 2013, 11:07:16 AM

I am more asking for opinions on difficulty I guess. I just don't know enough to speculate. Assuming that BFL delivers then we know that ASICs will hit and the difficulty will surge. I just don't know what is a reasonable guestimate for it.

Like I said I am not concerned about the exchange rate, other than the fact that it is so high I wouldn't have to part with that many coins to order the device.

However if it is going to take years to even generate the coin back then it isn't a good investment.

If they deliver tomorrow, and BTC goes to $10000 it is an AWESOME DEAL because now you are rich.
If they deliver in 6 months and BTC goes to $10000 it is a TERRIBLE DEAL because you could have bought BTC instead.
If they deliver in 6 months, but the product is crap and burns out after 2 weeks of mining because they are amateurs and have no idea how to build complex electronic equipment it is a TERRIBLE DEAL
If they deliver tomorrow, but the product is crap and burns out after 2 weeks of mining because they are amateurs and have no idea how to build complex electronic equipment it is an ever so slightly less TERRIBLE DEAL.

Of course, the elephant in the room is that they may never deliver at all. But you declared that the elephant is not to be considered because it is large and gray.

Dalkore

legendary

Activity: 1330

Merit: 1026

Mining since 2010 & Hosting since 2012

Play around on the calculator with difficulties. Try 30,000,000 - 50,000,000 - 100,000,000 and see how you feel then.

ErebusBat

hero member

Activity: 560

Merit: 500

I am the one who knocks

I am more asking for opinions on difficulty I guess. I just don't know enough to speculate. Assuming that BFL delivers then we know that ASICs will hit and the difficulty will surge. I just don't know what is a reasonable guestimate for it.

Like I said I am not concerned about the exchange rate, other than the fact that it is so high I wouldn't have to part with that many coins to order the device.

However if it is going to take years to even generate the coin back then it isn't a good investment.

Dalkore

legendary

Activity: 1330

Merit: 1026

Mining since 2010 & Hosting since 2012

Anyway you cut it, it will be risky.

chipd

newbie

Activity: 56

Merit: 0

If mining is not profitable, no one will mine. If no one is mining, no new transactions can be maid...
Did you take into account the transaction fees in your calculation?

ErebusBat

hero member

Activity: 560

Merit: 500

I am the one who knocks

Quote from: k9quaint on April 10, 2013, 10:37:08 AM

It is worth it to us, in comedic value.

Thank you for that helpful post.

k9quaint

legendary

Activity: 1190

Merit: 1000

Quote from: ErebusBat on April 10, 2013, 10:23:06 AM

FOREMOST: I am aware of the shipping issues BFL is having, so please no replys like 'No because you won't get it' This assumes that BFL will deliver.

With the recent increase in bitcoin prices I am seriously considering picking up some hashing power; however I was wondering if it would be worth it. I have never mined before, though I am highly technical (not worried about setting it up or running it). What I am worried about are things I know I don't know, and the things I don't know I don't know.

For example.... if you put 5 GH/s into a mining calculator today the return is great; however I would not get mine until most ASICs have shipped, I have no idea what to do for a difficulty estimate. I don't really care about the USD from mining, what I really want is to just set it up and have it generate some bitcoins over the long term for me. What I don't want is for 5GH to become like a single GPU card that really doesn't make it worth it.

So my question: Would purchasing a single 5 GH/s ASIC be worth it?

It is worth it to us, in comedic value.

ErebusBat

hero member

Activity: 560

Merit: 500

I am the one who knocks

FOREMOST: I am aware of the shipping issues BFL is having, so please no replys like 'No because you won't get it' This assumes that BFL will deliver.

With the recent increase in bitcoin prices I am seriously considering picking up some hashing power; however I was wondering if it would be worth it. I have never mined before, though I am highly technical (not worried about setting it up or running it). What I am worried about are things I know I don't know, and the things I don't know I don't know.

For example.... if you put 5 GH/s into a mining calculator today the return is great; however I would not get mine until most ASICs have shipped, I have no idea what to do for a difficulty estimate. I don't really care about the USD from mining, what I really want is to just set it up and have it generate some bitcoins over the long term for me. What I don't want is for 5GH to become like a single GPU card that really doesn't make it worth it.

So my question: Would purchasing a single 5 GH/s ASIC be worth it?

Topic: Single BFL 5 GH/s ASIC worth it? - page 2. (Read 10770 times)