Topic: Why release ASIC miners? (Read 2043 times)
the same thing happened like why ppl make rice machine while they can produce their rice
All of you who say one should buy coins instead of mining rigs...
Do you understand what you are saying?
I mean, do you really get it, what you're implying?
Even saying it's a conspiracy of corporations...
Mining IS Bitcoin. The reason Bitcoin operates, exists, is that there is processing capacity allocated to it.
If mining becomes a monopoly, Bitcoin becomes compromised, and thus worthless.
If mining stops, Bitcoin becomes unusable, and thus worthless.
If you do not think it's a good idea to mine, then you should be SELLING your coins asap, because you're saying the roof is coming down, and soon.
Do you understand what you are saying?
I mean, do you really get it, what you're implying?
Even saying it's a conspiracy of corporations...
Mining IS Bitcoin. The reason Bitcoin operates, exists, is that there is processing capacity allocated to it.
If mining becomes a monopoly, Bitcoin becomes compromised, and thus worthless.
If mining stops, Bitcoin becomes unusable, and thus worthless.
If you do not think it's a good idea to mine, then you should be SELLING your coins asap, because you're saying the roof is coming down, and soon.
Mining is ok, just the ASICs mining equipment is too expensive.
by the time you get your machine, their bitcoins double in price, they make profits.
You can only say this for fact in hindsight. at 1000/btc it's hard to imagine it doubling by March.
I don't like long term predictions for bitcoin but do you believe that anyone was thinking that bitcoin will go from 200$ to 1200$ in one month? Absolutely noone. Even the more bullish among the bulls couldn't have thought of such a rise.
True. But then there is a day like today where BTC drops 30%! Glad I physically couldn't get my money in early this week. Hopefully by next week my LTC miners should be here if people don't stop buying the damn video cards
Bitcoin dropped 50% or even more actually but what can you do when you have officials like the bank of china saying that bitcoin should not be used as a currency. (Whatever that means anyway)
https://bitcointalksearch.org/topic/m.3872676
by the time you get your machine, their bitcoins double in price, they make profits.
You can only say this for fact in hindsight. at 1000/btc it's hard to imagine it doubling by March.
I don't like long term predictions for bitcoin but do you believe that anyone was thinking that bitcoin will go from 200$ to 1200$ in one month? Absolutely noone. Even the more bullish among the bulls couldn't have thought of such a rise.
True. But then there is a day like today where BTC drops 30%! Glad I physically couldn't get my money in early this week. Hopefully by next week my LTC miners should be here if people don't stop buying the damn video cards
Bitcoin dropped 50% or even more actually but what can you do when you have officials like the bank of china saying that bitcoin should not be used as a currency. (Whatever that means anyway)
by the time you get your machine, their bitcoins double in price, they make profits.
You can only say this for fact in hindsight. at 1000/btc it's hard to imagine it doubling by March.
I don't like long term predictions for bitcoin but do you believe that anyone was thinking that bitcoin will go from 200$ to 1200$ in one month? Absolutely noone. Even the more bullish among the bulls couldn't have thought of such a rise.
True. But then there is a day like today where BTC drops 30%! Glad I physically couldn't get my money in early this week. Hopefully by next week my LTC miners should be here if people don't stop buying the damn video cards
All of you who say one should buy coins instead of mining rigs...
Do you understand what you are saying?
I mean, do you really get it, what you're implying?
Even saying it's a conspiracy of corporations...
Mining IS Bitcoin. The reason Bitcoin operates, exists, is that there is processing capacity allocated to it.
If mining becomes a monopoly, Bitcoin becomes compromised, and thus worthless.
If mining stops, Bitcoin becomes unusable, and thus worthless.
If you do not think it's a good idea to mine, then you should be SELLING your coins asap, because you're saying the roof is coming down, and soon.
Do you understand what you are saying?
I mean, do you really get it, what you're implying?
Even saying it's a conspiracy of corporations...
Mining IS Bitcoin. The reason Bitcoin operates, exists, is that there is processing capacity allocated to it.
If mining becomes a monopoly, Bitcoin becomes compromised, and thus worthless.
If mining stops, Bitcoin becomes unusable, and thus worthless.
If you do not think it's a good idea to mine, then you should be SELLING your coins asap, because you're saying the roof is coming down, and soon.
We blame the ASIC producers, but it is demand from the mining community that fuels this arms race that we are all in.
Demand can't go down because the asic race is a race against time. It 's not like pre ordering a gpu so you can play your favourite game. Having an asic 2 month later might be the difference between positive roi and not.
This also means that it's a race for the ASIC mining rig manufacturers. If they don't take your money now then then they know you will buy from the company that has product on the market the week before them. Hence the pre-order process which provides lock-in for the vendor. Of course that can mean that you've given your hard earned cash to a bedroom dreamer or a total flake. Some of us will get lucky and back the right horse, but most of us probably won't and will end up staring at expensive piece of kit that will never earn it's purchase price.
I know it's an unpopular view, but the mining community (including me) drive the ASIC manufacturers behaviour as we want absolute certainty, and won't accept any delay to a forecast date. The KNC thread is a great example. Despite everything, they delivered products that largely outperform their estimates and yet there are hundreds of posts complaining about being days (not months) late.
Everything you say is correct except that you don't mention how asic companies price their miners. The only real race between the companies is which one is going to sell first the most overpriced one.
Yes this is a recorded message because the concept of difficulty is not so easy for newcomers and they fall victims of companies selling the asics at outrageous prices. If you have another opinion about asics i 'll be glad to hear it.
If it's that difficult to conceive, maybe they shouldn't be investing in the first place. Like any investment, you should do your homework before giving away your money to strangers. Didn't everyone's mom tell them that? My point is, you don't have to pay those prices and you don't have to fall victim to the scams, but you do have to do a little research.
Oh and noone cares how much a random like you bought some usb miners. We are talking about what usually happens.
Maybe you don't, but maybe if people see there are deals to be had, maybe they won't be so hasty to jump on those outrageous prices. I would think that in a community of techies, people would be smarter than this.
by the time you get your machine, their bitcoins double in price, they make profits.
You can only say this for fact in hindsight. at 1000/btc it's hard to imagine it doubling by March.
I don't like long term predictions for bitcoin but do you believe that anyone was thinking that bitcoin will go from 200$ to 1200$ in one month? Absolutely noone. Even the more bullish among the bulls couldn't have thought of such a rise.
by the time you get your machine, their bitcoins double in price, they make profits.
You can only say this for fact in hindsight. at 1000/btc it's hard to imagine it doubling by March.
Steps two and three are not necessary because they are selling their miners for more bitcoins that they can ever mine.
Wow, is this a recorded message or something?
Yes this is a recorded message because the concept of difficulty is not so easy for newcomers and they fall victims of companies selling the asics at outrageous prices. If you have another opinion about asics i 'll be glad to hear it.
Oh and noone cares how much a random like you bought some usb miners. We are talking about what usually happens.
I know it's an unpopular view, but the mining community (including me) drive the ASIC manufacturers behaviour as we want absolute certainty, and won't accept any delay to a forecast date. The KNC thread is a great example. Despite everything, they delivered products that largely outperform their estimates and yet there are hundreds of posts complaining about being days (not months) late.
I agree. I have little sympathy for those that invest in vaporware and cry later when they get ripped off. Not only do they loose their hard earned cash, they open the door for more crooks to turn around and do the same thing, especially when the guy that got ripped off turns around and invests more money in the next pipe dream. It's like strapping a sign to your chest that says "I'm rich and stupid, take my money please!". In that case, most crooks would be happy to help you out.
I think that's a little harsh as none of us know who will produce vapourware next. I trust KNC after they delivered more than I'd ordered in an acceptable timeframe, but I'm not prepared to gamble over $12,500 that they can ship a Neptune to me by the beginning of March. If the Genesis block is correct, if it arrived at the start of April then it would be too late - I would be better just holding my coins. If the Genesis block is wildly over then my Jupiter will still be profitable. I guess I've bought my last mining rig!
I know it's an unpopular view, but the mining community (including me) drive the ASIC manufacturers behaviour as we want absolute certainty, and won't accept any delay to a forecast date. The KNC thread is a great example. Despite everything, they delivered products that largely outperform their estimates and yet there are hundreds of posts complaining about being days (not months) late.
I agree. I have little sympathy for those that invest in vaporware and cry later when they get ripped off. Not only do they loose their hard earned cash, they open the door for more crooks to turn around and do the same thing, especially when the guy that got ripped off turns around and invests more money in the next pipe dream. It's like strapping a sign to your chest that says "I'm rich and stupid, take my money please!". In that case, most crooks would be happy to help you out.
Back during the 1849 California Gold Rush, few prospectors struck it rich. Most of the people who made money back then were those who sold shovels.
With the huge demand for ASIC hardware, their profit margin is probably insane, and its guaranteed profit regardless of whatever bitcoin's value changes to. Plus, if they don't sell it, I'm sure some rival startup would.
With the huge demand for ASIC hardware, their profit margin is probably insane, and its guaranteed profit regardless of whatever bitcoin's value changes to. Plus, if they don't sell it, I'm sure some rival startup would.
Yep.
We blame the ASIC producers, but it is demand from the mining community that fuels this arms race that we are all in.
Yeah I don't blame the ASIC producers, after all they wouldn't even have designed them in the first place if people weren't willing to fund the project. Anytime you mix greed with ignorance, you end up with a mess.
Steps two and three are not necessary because they are selling their miners for more bitcoins that they can ever mine.
Wow, is this a recorded message or something?
There is a simply solution here, just don't buy them at those prices. If people continue to buy chips and miners at rates that will never ROI then there is no incentive for the companies selling the hardware to lower their price. In fact, the prices will only continue to increase until people stop buying. When they stop buying, prices will go down.
Probably because a miner has an approximate set USD price. While BTC doesnt. By selling them it removes a lot of the speculative risk involved in mining alone. And others have said it costs a lot of money to create an asic from scratch and selling them again removes a lot of the risk compared to mining yourself. You know people will buy the asic, you dont know how BTC will move.
We blame the ASIC producers, but it is demand from the mining community that fuels this arms race that we are all in.
Demand can't go down because the asic race is a race against time. It 's not like pre ordering a gpu so you can play your favourite game. Having an asic 2 month later might be the difference between positive roi and not.
This also means that it's a race for the ASIC mining rig manufacturers. If they don't take your money now then then they know you will buy from the company that has product on the market the week before them. Hence the pre-order process which provides lock-in for the vendor. Of course that can mean that you've given your hard earned cash to a bedroom dreamer or a total flake. Some of us will get lucky and back the right horse, but most of us probably won't and will end up staring at expensive piece of kit that will never earn it's purchase price.
I know it's an unpopular view, but the mining community (including me) drive the ASIC manufacturers behaviour as we want absolute certainty, and won't accept any delay to a forecast date. The KNC thread is a great example. Despite everything, they delivered products that largely outperform their estimates and yet there are hundreds of posts complaining about being days (not months) late.
We blame the ASIC producers, but it is demand from the mining community that fuels this arms race that we are all in.
Demand can't go down because the asic race is a race against time. It 's not like pre ordering a gpu so you can play your favourite game. Having an asic 2 month later might be the difference between positive roi and not.
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