Topic: Why Would Someone Sell ASIC When They Can Make 100x More By Running Them? (Read 1030 times)

Also, making ASICs and mining with all of them would make the price of bitcoin possibly tank. If nobody has an ASIC but one entity, and they can't mine with their GPUs anymore or buy an ASIC, they will most likely stop mining and leave the economy. Either price drop, or people have to buy bitcoins from the only entity making craploads of them to participate in the market. Risky endeavor.

Then yes they can do that.

What if they just wanted to destroy the network? Say some organization didn't like the idea of anonymous money, and just wanted to make it impossible to continue to operate.

Well, they are supposed to be owned by different owners.

It would halt the network, but they still can't spend coins that are not theirs!

I believe I read somewhere that when these all come online the hashing power of the entire network will go up by 80%. That's damn near the power needed to perpetrate a 51% attack.  Forget mining - couldn't they just fork the block chain and double/triple/quadruple/etc spend?

Yes.

I'd say that, once production has begun, all miners that are yet to be shipped out or yet to be sold will be mining for BFL  . 

Another troll, with almost EXACTLY the same wording as previously posted questions on this subject

They may choose to mine themselves and make a quick profit however,they stand alot more to gain by selling the products instead.

Hmm, ASICMINER is mining with their own developed ASIC chips instead of selling it, so you have manufacturers going both ways. It's very profitable being the first to ship, but future returns are unpredictable because of difficulty.

[edit] At first I thought you meant why would someone who held an order that has not yet been filled.  that's response is below.  But for the companies, they are in business to make hardware for the community.  If one entity ends up with a large portion of the network hash rate that company can control the network.  Research 51% attack.  It is healthier for Bitcoin if the network is spread out.  So it a company builds lots of ASIC units then uses them, they weaken the overall trust and the prices would fall.  So there is more money in selling them.

-------------Other Response-----------------
Depends on the price offered.  I have three BFL Singles which were purchased on Oct 3rd.  If someone offered me $3,600 for one of them, I'd sell it.  For them with the price at $30 / BTC they could get their money back in a few months and keep mining.  Until the Network hash rate hits 250 TH later this summer a BFL Single will get over 1 BTC a day, and at 1 BTC/day that's about $900+/month.  Like I said more than one BTC/day.  If the price goes up they would make even more.  So for them they get to start mining end of March first week of April rather than waiting until June/July which is the ship date is you order one now.

For me I recoup my initial investment and keep mining.  It's a win/win.

Another reason is that if BFL Ships to Europe there is something like a 400 EUR fee per unit.  If they buy it from someone in the states they might be able to talk said person into putting gift on the customs paperwork, thus saving them 400 EUR.  

This is just some of the logic.  Really there are lots of reasons.

Use the search. It's been talked about to death already. Another thread is not needed. READ.

My understanding is that when many come online difficulty will go up - so you take a risk about your return rather than making guaranteed cash up front.

I'm pretty new to bitcoin mining, but I see ASIC coming, and they are selling 300 a batch and it takes them 6 months to make them... Now I don't understand why would you sell ASIC for bitcoins or cash? Assuming you sell ASIC for $1,500 of which probably $500 goes to your pocket, why would you want to do that? You can create ASIC and run it at 60Ghash and make the profit of the hardware in 2 days? In a month running 1 ASIC you can make 7k.

I just don't get why would people sell it? where's the profit? Am I missing something?