Why are people cheering that ASICMINER will bring 800-1000TH online this year? - page 9.

dan99

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Quote from: zedicus on June 30, 2013, 08:35:05 PM

Quote from: Littleshop on June 30, 2013, 07:23:27 PM

Quote from: glendall on June 30, 2013, 07:16:30 PM

Well, you are free to buy stocks in ASICMiner if you do think they'll continue to do as well as they have. So it's fair enough in that sense.

I am more worried that they will kill the price of BTC. When mining is distributed, more of the miners keep the BTC or maybe spend it (I am a seller so I do have bias). I do not see ASICminer spending BTC of things in the community, it could happen but it is not what they are set up to do.

Basically ASICminer is a drain on the community. This does not mean they are doing anything wrong or should be stopped, it is just in most small miners interest not to support them. You buy a USB stick from them, you allow them to put up an equal (or greater) amount of hash power to balance out their share of the network. Certainly they can put up a lot more hash power with $100 then they are selling for $100. Same goes with blade sales. Also so far, most buyers from ASICminer simply paid too much for the product.

THIS!

They made those USB Miners and made a shit load of money and now they buy more hardware to mine. Those are the stupid guys who bought from them over price short life mining hardware!! Those middlemen and group buy made money but the users will suffer big time.

zedicus

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Quote from: Littleshop on June 30, 2013, 07:23:27 PM

Quote from: glendall on June 30, 2013, 07:16:30 PM

Well, you are free to buy stocks in ASICMiner if you do think they'll continue to do as well as they have. So it's fair enough in that sense.

I am more worried that they will kill the price of BTC. When mining is distributed, more of the miners keep the BTC or maybe spend it (I am a seller so I do have bias). I do not see ASICminer spending BTC of things in the community, it could happen but it is not what they are set up to do.

Basically ASICminer is a drain on the community. This does not mean they are doing anything wrong or should be stopped, it is just in most small miners interest not to support them. You buy a USB stick from them, you allow them to put up an equal (or greater) amount of hash power to balance out their share of the network. Certainly they can put up a lot more hash power with $100 then they are selling for $100. Same goes with blade sales. Also so far, most buyers from ASICminer simply paid too much for the product.

THIS!

Bitcoinorama

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Quote from: Littleshop on June 30, 2013, 07:23:27 PM

Quote from: glendall on June 30, 2013, 07:16:30 PM

Well, you are free to buy stocks in ASICMiner if you do think they'll continue to do as well as they have. So it's fair enough in that sense.

I am more worried that they will kill the price of BTC. When mining is distributed, more of the miners keep the BTC or maybe spend it (I am a seller so I do have bias). I do not see ASICminer spending BTC of things in the community, it could happen but it is not what they are set up to do.

Basically ASICminer is a drain on the community. This does not mean they are doing anything wrong or should be stopped, it is just in most small miners interest not to support them. You buy a USB stick from them, you allow them to put up an equal (or greater) amount of hash power to balance out their share of the network. Certainly they can put up a lot more hash power with $100 then they are selling for $100. Same goes with blade sales. Also so far, most buyers from ASICminer simply paid too much for the product.

It's very likely the current sales in Bitcoins causing the price to drop/ be suppressed are ASICminer liquidating stock. They are a single entity with the power to manipulate BTC price...

jc328

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Although I am highly invested in Asicminer Shares, it is a bit disconcerting that they will control so much power under one single entity.

Paladin69

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I can't believe the amount of people on this board that want to support a hardware company that mines with what they develop. This will be a fuckin' disaster. China is taking advantage of stupid westerners with more money than common sense.

eve

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Paladin69

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Yeah I think I read somewhere that they are taking all of their earnings and reinvesting it into more hardware for themselves? That is a scary.

I'd much rather support KNC which will probably only use testnet.

Supporting ASICMINER's high prices will just help them grow exponentially larger each time.

Littleshop

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Quote from: glendall on June 30, 2013, 07:16:30 PM

Well, you are free to buy stocks in ASICMiner if you do think they'll continue to do as well as they have. So it's fair enough in that sense.

I am more worried that they will kill the price of BTC. When mining is distributed, more of the miners keep the BTC or maybe spend it (I am a seller so I do have bias). I do not see ASICminer spending BTC of things in the community, it could happen but it is not what they are set up to do.

Basically ASICminer is a drain on the community. This does not mean they are doing anything wrong or should be stopped, it is just in most small miners interest not to support them. You buy a USB stick from them, you allow them to put up an equal (or greater) amount of hash power to balance out their share of the network. Certainly they can put up a lot more hash power with $100 then they are selling for $100. Same goes with blade sales. Also so far, most buyers from ASICminer simply paid too much for the product.

glendall

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Well, you are free to buy stocks in ASICMiner if you do think they'll continue to do as well as they have. So it's fair enough in that sense.

Paladin69

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Quote from: afro25 on June 30, 2013, 07:00:01 PM

The way I understand it is that they plan on bringing 800-1000TH online in the event that their market share (of global hash rate) falls significantly.
They planned to keep at least 10-20% of the network and add/remove hash rate as the total hash rate fluctuates. I can't see that they'll just bring online 1000TH and shoot straight to 90%+ of the network, as that might kill trust in Bitcoin (and thus the whole point of Asicminer's existence). If the network shoots up to 1000TH+, then I would expect them to start seriously flipping the power switches on new machines to keep up, but I doubt they'll bring online that much unless they need to.

It currently feels like they are in it for themselves. Securing the network is only useful if dispersed among a wide range of independent miners. Not consolidated into one. What I see right now is all I can go on...and that currently is USB sticks & blades that are WAY overpriced that are being sold to suckers so they have the funds to continue growing their operation while mining with what they make.

Just save a little for the rest of us ASICMINER. Otherwise we can't continue to keep buying your cheap Chinese stuff...lol The West and the East needs to work together to destroy the fiat central banking overlords. China is showing a growth path that will do a bit too much dominating for my liking. I agree with you. Bitcoin will fail if they grow the network too large too quickly.

I hope KNC has an upgrade path program when their 2nd generation ASIC's come online...sorta like what BFL did for their FPGA customers. But if all I am doing is using all my BTC to keep up with each new generation because ASICMINER is pigging it all then it doesn't make much sense to stay in the game.

afro25

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The way I understand it is that they plan on bringing 800-1000TH online in the event that their market share (of global hash rate) falls significantly.
They planned to keep at least 10-20% of the network and add/remove hash rate as the total hash rate fluctuates. I can't see that they'll just bring online 1000TH and shoot straight to 90%+ of the network, as that might kill trust in Bitcoin (and thus the whole point of Asicminer's existence). If the network shoots up to 1000TH+, then I would expect them to start seriously flipping the power switches on new machines to keep up, but I doubt they'll bring online that much unless they need to.

goxed

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Quote from: Paladin69 on June 30, 2013, 06:46:09 PM

I don't understand why I see so many people happy about this? That scares the hell out of me. Not even BFL MiniRigs or KNC will be able to compete. You'd have to buy a crap load of Jupiters and then ASICMiner will just bring another 2-5PH online quickly early next year at this rate.

I dunno, I'm just not too happy about it. I was hoping we'd see a couple generation of ASIC's go by before bringing the network that large. Nobody will be able to make much of anything except for a small select few.

Maybe I am calculating something wrong and don't understand their investment strategy. Seems very piggish. Managing your own hardware looks like it will quickly take a back seat into letting the Chinese do it all for you.

Fucking BFL...move your ass.

+1

Paladin69

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I don't understand why I see so many people happy about this? That scares the hell out of me. Not even BFL MiniRigs or KNC will be able to compete. You'd have to buy a crap load of Jupiters and then ASICMiner will just bring another 2-5PH online quickly early next year at this rate.

I dunno, I'm just not too happy about it. I was hoping we'd see a couple generation of ASIC's go by before bringing the network that large. Nobody will be able to make much of anything except for a small select few.

Maybe I am calculating something wrong and don't understand their investment strategy. Seems very piggish. Managing your own hardware looks like it will quickly take a back seat into letting the Chinese do it all for you.

Topic: Why are people cheering that ASICMINER will bring 800-1000TH online this year? - page 9. (Read 9219 times)