The KNC Jupiter WAS a wide purchase (so far) becuase most of us who have bought it have already been mining with it a few weeks. The earliest customers have already made their money back!
So yeah, if you are just getting around to buying your ASIC now, duh! of course you are too late and missed out.
Topic: STOP!!! Do not buy that new ASIC ! And here's why... - page 5. (Read 15474 times)
If you're that desperate to throw money away, PM me for my PayPal address.
The difference is, I have this Jupiter if I send my money to KnC, while sending money to you, will you send me some sort of hardware? 
Yeah - bitcoin is very self regulating.
this thread has a good side and a bad side...
good side... it tells people not to rush things and buy miners without thinking 999 times...
bad side... telling people not to mine can give a negative impact on BTC itself... if people stops mining... any big miners can take over.... corps/govs.... anybody...
attack of the 51%...
good side... it tells people not to rush things and buy miners without thinking 999 times...
bad side... telling people not to mine can give a negative impact on BTC itself... if people stops mining... any big miners can take over.... corps/govs.... anybody...
attack of the 51%...
I'd find this unlikely as difficulty can also decrease. So if difficulty goes down, people will turn their miners back on and become profitable again.
Every one of these threads:
lol
Quote
guise, don't buy asics, the ghs you use makes it harder for me to earn money
lol
God I hate these threads
Don't buy any more ASIC please, all the company are scamming you by mining themselves first...
That's where cex comes in handy at BTC0.082/Gh/s and deploys instantly as cloud miner, you have the option to sell the share so you both got the mining profit + the share which would then be a win+win situation when worst comes to worst.
You can check my sig for cex though.
You can check my sig for cex though.
It seems to me that the price of GH/s is always going to go lower. I'm not sure how mining profits will offset the price drop when you go to sell.
Am I overlooking something ?
You are constantly mining with the GH/s that you bought. So if you mine faster then it drop then you win
Agreed - you don't need to worry about selling your machine. I just discovered CEX today.
That's where cex comes in handy at BTC0.082/Gh/s and deploys instantly as cloud miner, you have the option to sell the share so you both got the mining profit + the share which would then be a win+win situation when worst comes to worst.
You can check my sig for cex though.
You can check my sig for cex though.
It seems to me that the price of GH/s is always going to go lower. I'm not sure how mining profits will offset the price drop when you go to sell.
Am I overlooking something ?
this thread has a good side and a bad side...
good side... it tells people not to rush things and buy miners without thinking 999 times...
bad side... telling people not to mine can give a negative impact on BTC itself... if people stops mining... any big miners can take over.... corps/govs.... anybody...
attack of the 51%...
good side... it tells people not to rush things and buy miners without thinking 999 times...
bad side... telling people not to mine can give a negative impact on BTC itself... if people stops mining... any big miners can take over.... corps/govs.... anybody...
attack of the 51%...
this is the best way to find out for yourself
http://www.btcinvest.net
mining calculator- better to just buy btc and hold then miners
http://www.btcinvest.net
mining calculator- better to just buy btc and hold then miners
I was just looking at the KNC site for their various miners, the high end Jupiter model hashes 550 Ghash for $4,995.00 .
I'm telling you, DO NOT BUY ONE OF ANY MODEL!
Why? Simple economics. Run the numbers with me:
At current BTC difficulty of 267 million, you'll get 1.03 BTC per day. In a couple days when the difficulty jumps to ~400 million, you will only get 0.69 BTC per day. And it'll only get worse as the difficulty continues to rise!
BTC is at $215.00 right now, and assuming it stays there (which it won't), and assuming you are mining 0.69 BTC per day (which will fall more and more), you'd have to mine for at least 34 days to break even, and if the BTC price drops, it'll be much longer.
If BTC dropped to $100, and assuming again that you were still somehow getting 0.69 BTC at the 400 million difficulty, which will rise, your break even time is now 72 days or longer.
And this does not take into account shipping costs or electricity costs.
And WHEN the difficulty rises, it'll be much longer.
Do you really want to be on pins and needles for 3 months or more, praying that your foolish purchase at least breaks even, much less makes a profit?
Save yourself the headache.
If you're that desperate to throw money away, PM me for my PayPal address.
And I really had to LOL at how they list the Saturn version as the "more affordable" model. 50% of the hash rate for 60% of the price -- you're already losing money relative to buying the Jupiter version!
And this is not a rip on KNC specifically, this goes for any ASIC built by anyone.
I'm telling you, DO NOT BUY ONE OF ANY MODEL!
Why? Simple economics. Run the numbers with me:
At current BTC difficulty of 267 million, you'll get 1.03 BTC per day. In a couple days when the difficulty jumps to ~400 million, you will only get 0.69 BTC per day. And it'll only get worse as the difficulty continues to rise!
BTC is at $215.00 right now, and assuming it stays there (which it won't), and assuming you are mining 0.69 BTC per day (which will fall more and more), you'd have to mine for at least 34 days to break even, and if the BTC price drops, it'll be much longer.
If BTC dropped to $100, and assuming again that you were still somehow getting 0.69 BTC at the 400 million difficulty, which will rise, your break even time is now 72 days or longer.
And this does not take into account shipping costs or electricity costs.
And WHEN the difficulty rises, it'll be much longer.
Do you really want to be on pins and needles for 3 months or more, praying that your foolish purchase at least breaks even, much less makes a profit?
Save yourself the headache.
If you're that desperate to throw money away, PM me for my PayPal address.
And I really had to LOL at how they list the Saturn version as the "more affordable" model. 50% of the hash rate for 60% of the price -- you're already losing money relative to buying the Jupiter version!
And this is not a rip on KNC specifically, this goes for any ASIC built by anyone.
Its a gamble, some people are thinking the difficulty would slow down
How many of these threads do we need? 
Threads on what? Stop mining, ROI or Pink Sheep?
That's where cex comes in handy at BTC0.082/Gh/s and deploys instantly as cloud miner, you have the option to sell the share so you both got the mining profit + the share which would then be a win+win situation when worst comes to worst.
You can check my sig for cex though.
You can check my sig for cex though.
How many of these threads do we need?
i paid 10 pink sheep for 550 Ghash and i will never see a ROI because my 550 Ghash mines BTC not pink sheep...
what do i say to that
baaaa!
what do i say to that
baaaa!
Well, maybe you should also take into consideration that, after you returned your investment, you have a machine worth a few thousand dollar which you can sell afterwards...
So ignorant!a 100 GH/s miner for example will not even be worth half it's current price in 6-12 months.
Maybe 1/10th of it's value.
Just saying It is not all about the ROI when considering to buy a miner...
If you find it profitable to mine, then mine.
If you don't find it profitable, then don't mine.
The "invisible hand of the market" will take care of everything else.
Since ROI is almost surely impossible, it's better to stay away from it for now.If you don't find it profitable, then don't mine.
The "invisible hand of the market" will take care of everything else.
Then feel free to stay away then.
Let the rest of us hash in peace.
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