Bitcoin Forum

on buying some SC's....

Is it a scam?
Will they perform as they should?
Do I want to invest in mining for BC?
Are there any strong examples of people actually making money or is this more of a hobby?
I have enough hobbies, do I need another one?
What's on the tv tonight?
I'm sleepy, I should hit the bed!

Pretty much my train of thoughts....

I pay my rent every month from my BTC  :D

As for the SC's, you're probably right to be sceptical on performance and delivery... Personally I'm just mining my GPUs into the ground, then after ASICs come out I'll see where the dust settles...

Worse than the hardware issues is that you may have arrived at the party after all the girls have already left.

That's pretty impressive.  I would love to pay my rent with BTC profits.  How long did it take you to get too that point in profits?

What do you mean?

If I ordered now while in preorder, I'll be with all the cool girls on a boat.  If I wait, I might miss that margin to make a good amount of profit before it's halves.  I know there is still a lot of speculation on the actual delivery date of this units and most are saying at the first of 2013.

Also, Will BFL's refund my money if the end of the world happens?

I mean mining is becoming less and less profitable.  Also you won't be getting any BFL SC hardware before the halving happens sometime in late November or early December.

Regarding your last question: LAWL

BFL won't but I'm offering end of the world insurance against any cataclysmic event. you can insure your SC purchases if you like, just .1BTC per item purchased.

And about the boat... Its already sailed. Forget about the reward halving, by the time orders placed now are received the difficulty will be 30-50 times what it is now (disclaimer: fuzzy math used)

This is really like the whole Y2K thing if anyone else here is old enough to remember it.

Who really know what will happen to mining when the block reward halves?  Who know what impact BFL SCs will have (or if they'll even ship)?

In 6 months it'll be old news whatever happens.

Let me get a loan though pirate and I'll insure all my units though you.  haha!


I enjoy fuzzy math as well.

With the difficulty increasing, doesn't that just drive up BTC overall, making it pretty much the same across the board.  Instead of 1 BTC being 10 USD, (fuzzy math incoming)  maybe .1 BTC will be 10 USD since it's so hard to get 1 BTC.  I just see the reward as being constant.  I do wish I would of found out about this sooner because it's something that I would of liked to be a bigger part of.  I considered myself a internet champion, but hell, i missed a good opportunity to make some cash and I feel bad. 

I had a gaming PC with an unlocked 6950 in it, discovered bitcoin in April last year, started mining, spent BTC earned on hardware, picked up some more cheap GPUs back last october when nobody wanted them, I was actually intending to sell them on ebay when the BTC price picked back up again. So I have 4 5830s, 4 7970s, 3 5970s all running and I have cheap rent  :D Power bill is a lot higher than it used to be though  :P

I also run a little bonus pool (I hop pools, make more money, pay my miners >100% PPS) and that makes me probably a grand total of a few extra BTC per month  :P

Difficulty is technically irrelevant. What matters is what someone is willing to pay for a BTC. Someone has to put up an order on the market saying "I am willing to buy X bitcoins at Y USD each" for the price to get there. Once that order is fulfilled the price drops to the next highest buyer and the price drops by the variance between the two.

you have to calculate the rate of return of what you think the bitcoin price will be compared to how much you pay for the asic and remember about the halving of reward very soon.