Bitcoin Forum

Check out the auction going on here:

https://bitcointalk.org/index.php?topic=189248.40

I'm very curious to see how high the bids will go

my calculation says 20 makes sense.. but i guess they will go far higher.. something like 70..

First one ended April 16th and you got it for 75. This one is expecting lower, I'm thinking to go in for around 25max.

If the final bids sit around 20 I'm thinking of picking one up. I ordered a 30 GH/s rig from BFL in March, but I don't think I'll get that for months.

I wish I had BTC to bid.

7 dollars

If you have $$$ that shouldn't be a problem  ;D

The latest Avalon batch went at ~100BTC for 85GH/s; the latest ASICMINER batch did around ~75BTC for 10GH/s. That's quite a hefty fee to pay for the instant delivery.

With the current exchange rate and the fact that they are shipping now i think 20 is pretty reasonable

The hard part for those of us newer to Bitcoin is that they only accept BTC as payment, and you have to pay in 48 hours.  Most exchanges don't work that fast.

Yeah, I'm currently trying to find the most cost effective way of converting cash to bitcoin. I've been waiting for my exchange verification for a week now and looking at my place in the queue I think it will be a few more days before that goes through. Finding locals selling bitcoins seems to be the best way I've found so far.

I was thinking 20 as well, but the minimun to get one is currently 16, so I don't know how likely that is.

Each unit is 10gh/s, and people are bidding roughly 5 btc per unit, did I get that right?

10gh/s, but the current max bid is 25BTC. The @ is a per-unit price. You'd currently have to bid more than 17 to have a chance, and there's only 1 unit available below 20BTC.

You beat me to it, but I'll add another angle.. I wonder whether it will be profitable long-term?

I am currently GPU pool mining at a total of ~1500MH. This produces slightly less than 0.1BTC/24h at present difficulty. With all those ASICs going on, difficulty will likely skyrocket, so the big question is, what the difficulty will be in a month?

+1 for 20, sounds reasonable

That's the question, and why I figured 20BTC would be safe. It seems it should take somewhere between 45-65 days to break even at 20.

Yes, my calculationsguesses are in the same ballpark.

If the numbers on http://organofcorti.blogspot.com/2013/04/914-asic-earnings-23-april-2013.html (http://organofcorti.blogspot.com/2013/04/914-asic-earnings-23-april-2013.html) are somewhat correct, one blade would (assuming optimistically at 12GH/s and delivery on 5/11) have generated around 18BTC at the end of july. From then on, it would generate 0.1BTC a day in a hypothetical world where the difficulty would stop rising.

Basically, I'd say that any bid over 20BTC is quite a gamble, unless of course you have good reason to doubt the predictions above. :)

This. I would also like to bet on those auctions but I don't have so many bitcoins. Does anybody know the quickest (and safest) way to buy bitcoins?


Concerning this auction, I also think 20-25 BTC would sound reasonable. That would need approximately 50 days to meet the ROI if the difficulty stays the same which is highly doubtful.

What you are paying for here is clearly the opportunity to have a functional ASIC before the thousands of DIY units come online.


I personally think that it will go way higher than 25BTC.

Is it possible to bid in that thread even though I have "newbie" status on this forum?  I'm new to the forum but not new to BitCoin in general.

You might try to ask for earlier release from 'newbie jail'. There is a thread just for this purpose.

Thanks, I'll give that a try.  the this is the thread if anyone else is interested...

https://bitcointalk.org/index.php?topic=15911.0

Apparently the normal way to get out of newbie status is to make 5 posts and be online for at least 4 hours. 

If you don't already have bitcoin to bid with best of luck it was a slow and painful process to get setup on Mt.Gox for me, not sure if any of the other exchanges are better.  You might be able to get some in under 24 hours using bit instant w/ mtgox but you are going to pay some hefty transaction fees.  Dwolla seems to be the best way as you can move $5k at a time into or out of Mt.Gox for only 25 cents.  The down side is you need to send a photo copy of your drivers license and a copy of a current utility bill to Mt.Gox in order to verify your identity.  That process takes 10 to 20 days and then it takes another 3-4 days to make the actual transfer.

You could also directly contact the person running the auction and ask him to place a bid for you.

gonna check it out

If they were still around 20, I'd be very tempted to ask for early release from "Newbie Jail" so I could put in a bid.  At 30+...  that's getting out of my comfort zone. 

mining on simple gpu's wont be worth it soon!

I agree, assumptions on that blog are quite realistic and buying at the current price might just never return the value. Let's face it, we are too late for this  :-[

30LTC and I will mining some Feathercoins ;)

I asked for an out when they were around 20, but I agree, at more than 30 it's too risky for me. It could still be very profitable, but too much of a gamble.

Delivery was very quick for the first batch, so this might make sense for 50 bitcoins...  Lets face it, BFL aren't shipping quantity any time soon.

Not that
a) I can bid, because I'm a newbie
b) I can buy any bitcoins, because I'm in the UK

squish

35 max

If you need to buy BTC in the UK try Bitbargain.co.uk

I wouldn't pay anything, as when they arrive all hell will break lose. In that case i would rather just buy more GFX cards and mine LTC, which is what everyone else is going to do aswell.

So i'm going to metagame you all and start mining FTC and become the new fontas.

hmm below 50 id say

Well, now its heading towards 40, we'll see in few hours ;)