Plus, mining is fun. Not all profits are tangible. If I find a way to lay my hands on one of these machines, I'll run the bitch until it's costing me twice what it brings in in coin.
Man, you are so full of shit. You haven't invested a penny in asic hardware and you come out with statements like this. You are living in a dream world, with zero skin in the game.
And the fact you can't come up with a few grand to invest suggests you are a loser, with no real business skills, just a lot of talk.
Why don't you sell everything you have and buy some hardware, then we might be able to take a single word you say seriously? Otherwise, take your soap box and fuck off.
I think he (Biomech) sounds correct, especially if you pay attention to the part about being long on bitcoin.
He didn't say bullish, he said long.
It even seems possible that he didn't mean he didn't have the number of bitcoins it would have taken to buy a miner but simply that he was not long
enough on bitcoin to buy a miner and still be long in bitcoins relative to how long he'd have become in ASICs.
If you have shitloads of bitcoin already, enough that bitcoin going to $1000 a coin isn't going to leave you thinking damn I should have saved just a few more coins instead of playing the mining game, then going long on ASIC tech in addition to staying long on bitcoins sounds not unreasonable at all.
If bitcoin had gone up to $1000 in the last few days instead of not having even reached $500 yet I'd have snapped up another Jupiter most likely, because we are on the get there for real followup wave following the bubble to $266 that happened a while ago. So even up at $500+ I'd expect a crash back down to $266 or below because I expect a bubble up to the next big step or plateau above the $266 previous high-water-mark first before a get there (the next big step above $266) for real wave. So somewhere up here above $266 I am going to be thinking hey we are into the next bubble already instead of merely being up at the got there ($266) for real plateau signaled long ago by the $266 bubble. Maybe the next bubble is coming so soon after climbing back to $266 because it took so long for the climb back, or something.
So maybe at around $500 I will buy a Jupiter rather than find myself regretting not having done so when the bubble crashes back to $266, maybe momentarily even below that, then settles at around $266 or somewhere above that. But settle at $500? I doubt that, a bubble all the way to $1000+ without stopping at $500 seems more likely based on previous bubble activity. Still maybe crashing all the way back to $266 or even momentarily below. So I am kind of thinking the top of the bubble is the moment to go long ASIC while bitcoins still buy a lot of ASIC... Others maybe had thought aha we are at the $266+ plateau, might as well buy now, its going to hover here for gosh knows how long before the next bubble, thus already snapped up a november jupiter in last few days maybe before noticing hey another bubble might be here already lets see how high it goes before snapping up some more ASIC.
Remember, holding bitcoins and mining are both wild exciting rides, so I'd not take his car story as implying throw all your bitcoins into mining gear but rather as throw all your fiat into getting long on bitcoins and if you have money left over go long mining gear too for the sheer heck of it if buying a rig or few won't be a big bite out of your bitcoin long-ness. (Heck it is what percent of your bitcoin to buy a rig or few? Why have shitloads of bitcoins if not to enjoy spending some when they peak in exchange rate? What would be more fun to spend a few on than a rally car or a mining rig?)
-MarkM-