Bitcoin Forum

So I keep hearing all this about Butterfly and Avalon and just dove in and bought 2 85 Gh/s....
I do understand the risk and the issues and the yelling I will hear from this... BUT this is from the profit I made as I bought 800 BC at $35 and sat on them until today!
Soooooooooo I just transferred the other half in my bank account and called it a wrap!
I know there are many factors involved with the mining process for the outcome as difficulty and other things but even tho they were 100BTC each do you think they will pay for them selves in time?
Would like to know your opinions!
Thanks
Victor
PS - They were free in my eyes ;)

Why do u say they were free?

Maybe because he thinks he'll make them back?

(or buy ASICMINER shares)

Well, i think you made a smart choice. Avalon is legit and they deliver. The founder is dedicated to the idea of bitcoin and decentralized cryptocurrencies, and this recent interview with Yifu Guo pretty much explains why they're kicking BFL's and everyone else's ass right now:
http://motherboard.vice.com/blog/engineering-the-bitcoin-gold-rush-an-interview-with-yifu-guo-creator-of-the-first-asic-based-miner

Basically, a bird in hand is worth two in the not-even-prototype-yet bush, and a good plan executed now (while the difficulty is still relatively low for ASICs) beats the "perfect plan" executed late (or never?).

My understanding from looking into the BFL situation and hearing all sides of the story is that BFL's customer service does not engender trust from its investor's who've been waiting for months with little communication and no evidence that there is even a working prototype.

;D ;D EXACTLY! I do hope these awesome things work!!!!

How come you just joined up here, you've obviously been a miner for a while... ??

GrGreat story if one person can do it why can't others? I really feel sorry for all the folk who have been taken for a ride with butterflylabs. But I also hope that they do deliver on their promises from what i understand if they had brought BTC to the value at the time of ordering and held them they would be worth a hell of a lot now.

is batch #3 now available for pre-order? I noticed the site seems to be working, as the shopping cart wasn't working properly the other day..

The pre orders technically sold out 30 mins after they were announced.. but some people don't complete their order and the system opens them up again. Thus allowing new orders to come through. Looks like as of 1:33am PST they are closed again, though.

wow..dayyummm

I received one email from asic regarding batch 3 but they didn't announce it was open? when/where did they make the announcement? I just checked the site (7:48pm AEST), says out of stock, though it didn't say that earlier today..

The thing I do not understand is why only these two campanies can make these asic's. And why would they sell them?

Ordered a BFL too, hope it arrives in time.  ::) Have luck and mine a lot!  ;D

Because they initially got funding from the community.

Yeah, keyword there being "COMMUNITY"
Using pre-order money to fund R&D probably wouldn't have worked in any other community.
Bitcoin people are awesome. I just hope people get what they pay for.

The last question is exactly what I don't understand about this two companies.

That was the agreement.

I also just orderd few 85 Gh/s avalon.

but I worry about the problems I read here in the forum:

Avalon#1 stop working very often

https://bitcointalk.org/index.php?topic=153698.0 (https://bitcointalk.org/index.php?topic=153698.0)


Many ppl still haven't received  batch 1 Avalon units

https://bitcointalk.org/index.php?topic=157856.msg1670559#msg1670559 (https://bitcointalk.org/index.php?topic=157856.msg1670559#msg1670559)

 etc...
  

I'm sad, I wasn't aware that third batch was already sold out...

What options are left? buy ASCIMiner shares?

They were indeed a great deal, as long as you have faith in the Avalon team (as I do). Congrats to you as well.
I wanted to add mine to the list, but as am a 'newbie', I am not allowed to.
I ordered
- 4 @ 85 Gh/s (#9162)
- 2 @ 65 Gh/s (#4965, #6105)
All shipped with DHL to Belgium.

This is not true. The only coins I have mined are the ones that have lint coming out of my pocket. I am 1000% new to this (20 days or less) I just evolve quickly to new things. No worries. Thanks

To be 100% Honest with you I wonder the same thing. Today I just Trademarked "Bitcoin Computer" and tho I may fail I would LOVE to make a Mining Rig. I think the ones offered are a little aesthetic unfavorable. I have a few friends out there who know what they are doing so lets see if this works out. If not, Oh Well. But I have a habit of doing things right.

I bought one too! It's more fun to mine then just buy bitcoin  :)

I tried to order tonight and it says "Sold Out"

Good thing I have already purchased the 60Ghs on Butterfly Labs about 3 weeks ago.

I almost dropped the 30k on the big rig but git scared.....
I dont see anything from them and they would not answer any questions I had which were very simple. I have not seen teasers or any videos to show they are real. I would have been showing off the progress if I were Butterfly Labs. I just dont get it.
I hope all works for you with that purchase. Serious

That explains a lot. I setup an order just trying to see if they were available, and it locked it in as a purchase waiting to complete, even though the Bitpay purchase window had closed. Realizing they were still available I went to move funds around so they'd be immediately accessible to bitpay and completed a 2nd order some minutes later, but what was interesting to me were the order numbers. My first incomplete order was order 9,000 something with at least 100 between that and the 2nd one that went through. Anyway, I consider myself fortunate.

Read that interview with Yu, that's what convinced me to buy. His reason for making these ASICs is to support the network, to keep it decentralized. He also talked about targeting the price for 1 month return on investment, wow.

I read it as well, sooo wanted to buy in but didn't have the available funds in BTC, so I missed out.. :( oh well hopefully there is a #4 batch sometime soon with improved specs, and by then I'll hunt down the $ to get in on the action..

p.s: if any ASIC user wants me to watch over their rigs for some measley BTC's while they are on holidays in the bahamas, just pm me lol

I'm looking at setting up a mining rig with 2 x 7970s to get started, and try both litecoin / bitcoin to see which is more profitable..gotta start somewhere right...::)

tempted to also just use that $$ to buy btc/ltc though I figure the rig has resale value and it will generate more coins in the long term.. and the fact that I'd be using credit to buy the machine, so an income stream would help pay itself off rather than a purely speculative approach..

I hear the 5800 series is better than even the 7900's for mining. If you can find them. /r/bitcoinmining is your friend too.

how long will it take mining to return the 200btc you spent on them?

At the current dif he'll have them paid off in a month....but figure by the time they show up batch #2 will have arrived and been mining for a good few weeks, I should think he will still break even in 2 months give or take a few weeks

Congrats on your purchase!!  Happy mining with them =)

@OP..lucky you had the chance to buy them. I was waiting for an email (like they said they'd send?) to buy a few of the 4 module ones and never got anything so I obviously missed my chance.
Anyone get an email from the newsletter about the pre-orders opening?

I had made a decision recently to begin mining. Mining is going to be the cheapest way to obtain bitcoin in the near future as price skyrockets. And the Avalon devices are proven and shipped. So why not.

Sounds like the mining difficulty will be ramping up soon, so I guess it depends on how confident you are that Avalon will ship in a timely manner.  I have to think that you will get the machine in time to make a decent ROI though.  I could be wrong.

Congratulations and good luck.

Congrats on the purchase, have you received it yet?

Nice I do wish you luck although you want need it.... I have to go the green eyed monster is starting to show :)

Good luck with mining.
 :)

If you believe it's going to skyrocket, then the cheapest way to obtain it would be to buy it right now.

example, people that placed pre-orders with BFL when bitcoins were at $10.

That is some serious hashing power my friend.

We used some of our casino's (http://satoshiroulette.com/) profits to go 3rds with 2 other business in a 85gh third order.
We only expect to make ~25% profit on initial investment before the difficulty goes insane but still a nice return.

It would also be fun to mine terracoin with an asic for a little bit :)