To buy or not to buy? | Bitcointalksearch.org

icedicedavid

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Quote from: polarhei on September 25, 2013, 11:18:13 PM

Quote from: icedicedavid on September 25, 2013, 05:39:33 PM

So I stopped following the ASIC madness for a while to focus on building my dice game, but now I'm looking into getting back into mining again. I did some quick reading but the information seemed to be overwhelming. It seems like all the ASIC companies are not delivering, board companies are going bankrupt, ASICMiner Shares crashed, difficulty sky rocketed, people are angry.

So is it a good time to buy some ASIC right now or no? If so which company is the best and which model will most likely give a good ROI?

If you quite unsure about numbers. Bet on FriedCat's offer or Pyramining first. I have referral links of Pyramining for you, PM for it.

Then You will need to use coinbox.me, equivalent to fill the minimal requirement or buy BTC with Fiat to start the miner first. I used to perform this thing on a boss, only for once completely free, if he like to speed up, I will help him to speed up.

ASICMiner provides the basic, stable, safe, but with bad power ratio as 330Mh/s @ 2W. While the other are better than that, but nothing shown at this moment, By the way, If Kncminer successfully ship the first 100Gh/s module in 28nm format, then good. For asking ASIC devices, Ask rockxie or other related people for it. You will need at least 50 to follow up as eBay is the retail way, You need a wholesale way. The Price, Currently so far, 0.12 BTC per one if you order lower than 2000.

for some reason Pyramining sounds like a pyramid scam. even the name sound like it's mocking the investors.

the blockeruptor at 300mhs is too slow to make anything...

no one else is shipping and ordering is risky...

polarhei

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Firing it up

Quote from: icedicedavid on September 25, 2013, 05:39:33 PM

So I stopped following the ASIC madness for a while to focus on building my dice game, but now I'm looking into getting back into mining again. I did some quick reading but the information seemed to be overwhelming. It seems like all the ASIC companies are not delivering, board companies are going bankrupt, ASICMiner Shares crashed, difficulty sky rocketed, people are angry.

So is it a good time to buy some ASIC right now or no? If so which company is the best and which model will most likely give a good ROI?

If you quite unsure about numbers. Bet on FriedCat's offer or Pyramining first. I have referral links of Pyramining for you, PM for it.

Then You will need to use coinbox.me, equivalent to fill the minimal requirement or buy BTC with Fiat to start the miner first. I used to perform this thing on a boss, only for once completely free, if he like to speed up, I will help him to speed up.

ASICMiner provides the basic, stable, safe, but with bad power ratio as 330Mh/s @ 2W. While the other are better than that, but nothing shown at this moment, By the way, If Kncminer successfully ship the first 100Gh/s module in 28nm format, then good. For asking ASIC devices, Ask rockxie or other related people for it. You will need at least 50 to follow up as eBay is the retail way, You need a wholesale way. The Price, Currently so far, 0.12 BTC per one if you order lower than 2000.

shmadz

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Quote from: millsdmb on September 25, 2013, 08:57:32 PM

I think the pizza guy went on coinbase to sell his bitcoins for USD, so I'm not sure who wins.

What he does with his winnings is his business. Just because he lost the trade with coinbase doesn't mean he didn't win the earlier trade.

But yeah, I know, as some guy once said... "Hindsight is a bitch that only breeds regret."

millsdmb

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I think the pizza guy went on coinbase to sell his bitcoins for USD, so I'm not sure who wins.

shmadz

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Quote from: icedicedavid on September 25, 2013, 06:10:02 PM

Quote from: frankenmint on September 25, 2013, 05:46:02 PM

Quote from: icedicedavid on September 25, 2013, 05:39:33 PM

So I stopped following the ASIC madness for a while to focus on building my dice game, but now I'm looking into getting back into mining again. I did some quick reading but the information seemed to be overwhelming. It seems like all the ASIC companies are not delivering, board companies are going bankrupt, ASICMiner Shares crashed, difficulty sky rocketed, people are angry.

So is it a good time to buy some ASIC right now or no? If so which company is the best and which model will most likely give a good ROI?

don't bother buying....you're taking a slice from the world pie.

Good ROI = Does not exist. I obviously have miners on backorder and have a stronger interest in dispersuading you from joining in on the difficulty level. Hell Go with BFL that is your absolute best option lol.

In all seriousness, cointerra and hashfast seem like the best bang for their buck in terms of hashpower to cost, but there is Bitfury which will likely ship soonest if you buy today...otherwise you could gamble and plan to mine altcoins and pickup a shiton of block erupter USBs for the cheapcheap (like less than 1500 will get you more than 15 GH/S delivered TODAY, not in at least 3 weeks like bitfury [which i think those Oct units are sold out too])

if you wanted ROI you needed to be invested in hardware at least a year ago or longer. At this point you are throwing a lot of good money down on a highly risky gamble that will likely not pan out...if you had substantial money and you for sure wanted to see a gain in profit then 'buy and hold'

I guess the question is how high bitcoin would go. Since ROI is calculated based on today's bitcoin value, but mining it and holding it might result in higher ROI if bitcoin's value go up. It's like when guys were mining with CPU back in the days and think oh this ROI would never return, but when the price increased, all their past mining all of a sudden made a killing.

No. The question is how high the bitcoin difficulty will go. In case you haven't noticed, it's going to the moon!

Those guys that were CPU mining back in the day could have bought bitcoin for pennies. 10,000 BTC for a couple pizza's I believe? Who do you think won that trade? the miner? or the pizza guy?

If you think bitcoin will increase in price, buy bitcoin, don't buy bitcoin miners. The rate of increase of the rate of increase is increasing at this point. It's unsustainable, but at this point there is too much sunk capital to turn back.

Sad to say.

millsdmb

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Quote from: Paladin69 on September 25, 2013, 08:15:28 PM

Quote from: millsdmb on September 25, 2013, 08:09:57 PM

i cant help but wonder if the notion of "money printing" will ensure that the mining market space is always based on pre-orders (if it doesn't eventually consolidate to the top few mining pools or even become centralized - by which point I hope I am dead).

Thanks BFL. Such an upstanding company.

Check out my video in signature =P

They're selling "mining by the GH" now. That might be where they're hoping to be. In that respect, they would need the monarch to succeed - but how soon does not concern them IMO. Also the demand that this places on supplies for people ordering the entire physical card and not for a slice of it will be unknown to anyone but them.

I don't know what the gh/watt of their monarch card is supposed to be, so if they don't hit that they'll likely continue rolling out products till they hit the asic spec sweet spot so to speak. The point when the only thing you can do is add more cards. sort of like the GPU era.

Paladin69

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Quote from: millsdmb on September 25, 2013, 08:09:57 PM

i cant help but wonder if the notion of "money printing" will ensure that the mining market space is always based on pre-orders (if it doesn't eventually consolidate to the top few mining pools or even become centralized - by which point I hope I am dead).

The problem is you always need pre-orders to fund NRE. Unless you are BFL. Then instead you secretly use customer money from 65nm orders to fund the development of the Monarch instead of ordering the necessary parts to finish the current generation.

BFL doesn't care if their orders for the Monarch are abysmal. They are probably going to mine with their own hosting farm when it is ready.

Thanks BFL. Such an upstanding company.

millsdmb

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i cant help but wonder if the notion of "money printing" will ensure that the mining market space is always based on pre-orders (if it doesn't eventually consolidate to the top few mining pools or even become centralized - by which point I hope I am dead).

itod

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Quote from: icedicedavid on September 25, 2013, 05:39:33 PM

So is it a good time to buy some ASIC right now or no? If so which company is the best and which model will most likely give a good ROI?

Problem is you can only go to preorder route, which rises the risk very high. You never know who will deliver on time.

When deciding, look only for two factors:
1) Realistic date of delivery
2) Electricity efficiency (watts per GHs)
First factor will determine your ROI, since difficulty rises 30% every 10 days. Second factor will determine for how long you will mine with the device, squeezing satoshies out of it, before you turn it off when it becomes obsolete. Everything else is less important (price, nominal GHs, overcloking abilites, etc)

By far the strategy that is looking like most profitable is to buy BTC for all available free assets and wait for it to rise. But in that case no mining for you, which is what original question was, wasn't it?

Hope this helped.

markm

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The higher bitcoin goes the less electricity will be a factor, but still if you are basing your decision on confidence that bitcoin will go up you are probably better off just holding bitcoins.

A while ago rushing to get some hashing power might have made some sense if you were going to merged mine I0COin, GRouPcoin, CoiLedCoin and GeistGeld before the masses picked up on them and skyrocketed their difficulty but now that both I0Coin and GRouPcoin have been added to mmpool's merge that leaves only CoiLedCoin and GeistGeld windows of opportunity still open, which is probably no more than half as much of an opportunity as when I0Coin and GRouPcoin too were still sitting there easy to mine.

-MarkM-

icedicedavid

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Quote from: frankenmint on September 25, 2013, 05:46:02 PM

Quote from: icedicedavid on September 25, 2013, 05:39:33 PM

So I stopped following the ASIC madness for a while to focus on building my dice game, but now I'm looking into getting back into mining again. I did some quick reading but the information seemed to be overwhelming. It seems like all the ASIC companies are not delivering, board companies are going bankrupt, ASICMiner Shares crashed, difficulty sky rocketed, people are angry.

So is it a good time to buy some ASIC right now or no? If so which company is the best and which model will most likely give a good ROI?

don't bother buying....you're taking a slice from the world pie.

Good ROI = Does not exist. I obviously have miners on backorder and have a stronger interest in dispersuading you from joining in on the difficulty level. Hell Go with BFL that is your absolute best option lol.

In all seriousness, cointerra and hashfast seem like the best bang for their buck in terms of hashpower to cost, but there is Bitfury which will likely ship soonest if you buy today...otherwise you could gamble and plan to mine altcoins and pickup a shiton of block erupter USBs for the cheapcheap (like less than 1500 will get you more than 15 GH/S delivered TODAY, not in at least 3 weeks like bitfury [which i think those Oct units are sold out too])

if you wanted ROI you needed to be invested in hardware at least a year ago or longer. At this point you are throwing a lot of good money down on a highly risky gamble that will likely not pan out...if you had substantial money and you for sure wanted to see a gain in profit then 'buy and hold'

I guess the question is how high bitcoin would go. Since ROI is calculated based on today's bitcoin value, but mining it and holding it might result in higher ROI if bitcoin's value go up. It's like when guys were mining with CPU back in the days and think oh this ROI would never return, but when the price increased, all their past mining all of a sudden made a killing.

frankenmint

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Quote from: icedicedavid on September 25, 2013, 05:39:33 PM

So I stopped following the ASIC madness for a while to focus on building my dice game, but now I'm looking into getting back into mining again. I did some quick reading but the information seemed to be overwhelming. It seems like all the ASIC companies are not delivering, board companies are going bankrupt, ASICMiner Shares crashed, difficulty sky rocketed, people are angry.

So is it a good time to buy some ASIC right now or no? If so which company is the best and which model will most likely give a good ROI?

don't bother buying....you're taking a slice from the world pie.

Good ROI = Does not exist. I obviously have miners on backorder and have a stronger interest in dispersuading you from joining in on the difficulty level. Hell Go with BFL that is your absolute best option lol.

In all seriousness, cointerra and hashfast seem like the best bang for their buck in terms of hashpower to cost, but there is Bitfury which will likely ship soonest if you buy today...otherwise you could gamble and plan to mine altcoins and pickup a shiton of block erupter USBs for the cheapcheap (like less than 1500 will get you more than 15 GH/S delivered TODAY, not in at least 3 weeks like bitfury [which i think those Oct units are sold out too])

if you wanted ROI you needed to be invested in hardware at least a year ago or longer. At this point you are throwing a lot of good money down on a highly risky gamble that will likely not pan out...if you had substantial money and you for sure wanted to see a gain in profit then 'buy and hold'

dragonkid

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Quote from: icedicedavid on September 25, 2013, 05:39:33 PM

So I stopped following the ASIC madness for a while to focus on building my dice game, but now I'm looking into getting back into mining again. I did some quick reading but the information seemed to be overwhelming. It seems like all the ASIC companies are not delivering, board companies are going bankrupt, ASICMiner Shares crashed, difficulty sky rocketed, people are angry.

So is it a good time to buy some ASIC right now or no? If so which company is the best and which model will most likely give a good ROI?

The quick answer is don't mine. There are too many problem with delivery with pre-order. This is getting so out of hand that PayPal now stop trading with many Bitcoin Mining Producer.

If you want to come back to mining, maybe best to wait till the storm is over. Or like every members have been telling everyone. Buy Bitcoin, don't mine.

icedicedavid

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Activity: 154

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Ice-Dice.com | Massive Referral Bonus!

So I stopped following the ASIC madness for a while to focus on building my dice game, but now I'm looking into getting back into mining again. I did some quick reading but the information seemed to be overwhelming. It seems like all the ASIC companies are not delivering, board companies are going bankrupt, ASICMiner Shares crashed, difficulty sky rocketed, people are angry.

So is it a good time to buy some ASIC right now or no? If so which company is the best and which model will most likely give a good ROI?

Topic: To buy or not to buy? (Read 813 times)