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Title: Are ASICs really worth the investment? Post by: Oakey22 on October 12, 2017, 05:09:41 AM Keep thinking of buying ASICS but my worry is that they are a one trick pony compared to say a GPU that I can mine multiple coins and has resale value.
Are they profitable with average electricity costs? Title: Re: Are ASICs really worth the investment? Post by: bathrobehero on October 12, 2017, 05:16:30 AM Only if you get them very early.
Just look at the difficulty chart of Dash: https://bitinfocharts.com/comparison/dash-difficulty.html People only just receiving their ASICs likely won't get ROI. Title: Re: Are ASICs really worth the investment? Post by: Tomynho on October 12, 2017, 06:40:16 AM horrible, too many ppl in mining, diffs go up like there is no tomorrow.
Title: Re: Are ASICs really worth the investment? Post by: 0xcosmos on October 12, 2017, 06:45:02 AM Keep thinking of buying ASICS but my worry is that they are a one trick pony compared to say a GPU that I can mine multiple coins and has resale value. Are they profitable with average electricity costs? depends on lot of factors get the lastest model quick and at given price from supplier will be very profitable but then difficulty, electricity, stock issues, overpriced third party suppliers many factors come in do research & if its profitable for ya go for it Title: Re: Are ASICs really worth the investment? Post by: xxcsu on October 12, 2017, 07:05:02 AM Keep thinking of buying ASICS but my worry is that they are a one trick pony compared to say a GPU that I can mine multiple coins and has resale value. Are they profitable with average electricity costs? I DONT UNDERSTAND WHY NEWBIES KEEP ASKING THE SAME QUESTION " ITS TO LATE TO START MINING , IT IS STILL PROFITABLE ?" No one can tell you ! Always going to be a 2 group of ppl who telling you it's ok go for it , or dont bc you just wasting ur money ! You have to make a decision for yourself ! Do your own research ! No one can tell you for sure what's going to happen with cryptocurrency ! No one can tell you it's going to be profitable for you or not ! No one can tell you how much profit you going to be able to make ! ( if you can make any at all ) No one can tell you the ROI ( return of investment) time ! None of those calculators you are seeing on the web can tell you what's coming tomorrow , months later or 6 months later ! Those calculators telling you about today , at that moment when you typing in your information ! It's little bit of gambling , you must to decide you want to play on the lottery or not ;D YES some of us got lucky , made some money with mining YES some of us got unlucky , lost some money , bc when price started to fall , sold the coins , miners Title: Re: Are ASICs really worth the investment? Post by: NoxX on October 12, 2017, 07:06:15 AM Keep thinking of buying ASICS but my worry is that they are a one trick pony compared to say a GPU that I can mine multiple coins and has resale value. Are they profitable with average electricity costs? ASICs also have resale value, but unlike GPUs timing matters a lot more. Best case scenario: You buy a newly released ASIC straight from the manufacturer in China without insane markup from a reseller, mine a few months and resell it on eBay. Worst case scenario: You buy an outdated ASIC from a reseller at 200+% markup. You mine longer than it's profitable and can't sell it afterwards because no one wants it anymore. Of course, everyone wants to get the best case, so it is notoriously hard to get ASICs from the manufacturers right when they are released. Unless you have connections to China, or buy in large quantities, it might be impossible... Title: Re: Are ASICs really worth the investment? Post by: Miner4ever on October 12, 2017, 07:21:17 AM Keep thinking of buying ASICS but my worry is that they are a one trick pony compared to say a GPU that I can mine multiple coins and has resale value. Are they profitable with average electricity costs? Asic also can mine lots of coins and algos. For example baikal asic miner who can mine x11, x13, x15, quark, qubit algos. And there is lots of coins on some asic algos, like scrypt, sh256 etc But if you are new in mining world and need first to learn what is what then better to go on one gpu mining rig for educational purposes. Title: Re: Are ASICs really worth the investment? Post by: Flep182 on October 12, 2017, 07:22:34 AM Keep thinking of buying ASICS but my worry is that they are a one trick pony compared to say a GPU that I can mine multiple coins and has resale value. Are they profitable with average electricity costs? I DONT UNDERSTAND WHY NEWBIES KEEP ASKING THE SAME QUESTION " ITS TO LATE TO START MINING , IT IS STILL PROFITABLE ?" No one can tell you ! Always going to be a 2 group of ppl who telling you it's ok go for it , or dont bc you just wasting ur money ! You have to make a decision for yourself ! Do your own research ! No one can tell you for sure what's going to happen with cryptocurrency ! No one can tell you it's going to be profitable for you or not ! No one can tell you how much profit you going to be able to make ! ( if you can make any at all ) No one can tell you the ROI ( return of investment) time ! None of those calculators you are seeing on the web can tell you what's coming tomorrow , months later or 6 months later ! Those calculators telling you about today , at that moment when you typing in your information ! It's little bit of gambling , you must to decide you want to play on the lottery or not ;D YES some of us got lucky , made some money with mining YES some of us got unlucky , lost some money , bc when price started to fall , sold the coins , miners I'm going to save this quote, as it's a good answer to a lot of recurring questions. Probably you've also got it in a textfile lurking around, right? ;) Title: Re: Are ASICs really worth the investment? Post by: TheQuin on October 12, 2017, 07:31:37 AM I'm going to save this quote, as it's a good answer to a lot of recurring questions. Probably you've also got it in a textfile lurking around, right? ;) Yes, there isn't much more to add to that. So I'll just say that my personal experience of mining back when ASICS first came out was that I did actually turn a profit. That was based on getting the equipment cheap through group buys on this forum and also then getting a bit lucky. After mining for a while and gradually getting less BTC as the difficulty shot up, then the BTC price rocketed as well. I realised I would get far more selling them on Ebay than I ever could continuing to mine. But even getting lucky with the timing like that I would have actually made a bigger profit if I had just bought BTC rather than buying the ASICS. Title: Re: Are ASICs really worth the investment? Post by: Flep182 on October 12, 2017, 07:36:25 AM But even getting lucky with the timing like that I would have actually made a bigger profit if I had just bought BTC rather than buying the ASICS. I've made a loss on the miners I bought, unless I correct for raising BTC rates. Which I shouldn't factor in, as buy and hold back them would've made me a LOT more by now :) Title: Re: Are ASICs really worth the investment? Post by: TheQuin on October 12, 2017, 07:49:02 AM I've made a loss on the miners I bought, unless I correct for raising BTC rates. Which I shouldn't factor in, as buy and hold back them would've made me a LOT more by now :) It's funny looking back on it now. I was checking back through my wallet history recently to see I once bought 4 BTC probably for less than $400 total so I could get some 330MH/s Block Erupters. I think I doubled my fiat at the time and was very happy.... but oh to have kept the BTC. Title: Re: Are ASICs really worth the investment? Post by: Flep182 on October 12, 2017, 08:01:11 AM I've made a loss on the miners I bought, unless I correct for raising BTC rates. Which I shouldn't factor in, as buy and hold back them would've made me a LOT more by now :) It's funny to looking back on it now. I was checking back through my wallet history recently to see I once bought 4 BTC probably for less than $400 total so I could get some 330MH/s Block Erupters. I think I doubled my fiat at the time and was very happy.... but oh to have kept the BTC. I spent 8 BTC on Gridseeds (the 3 chip miners), gotten about 3 btc back. I could've gotten close to buying a share in the company making them by now with that amount of bitcoin :) Title: Re: Are ASICs really worth the investment? Post by: cuteman on October 12, 2017, 09:45:26 AM Only if you get them very early. this is a terrible picture. I will have my D3 end of October. :'(Just look at the difficulty chart of Dash: https://bitinfocharts.com/comparison/dash-difficulty.html People only just receiving their ASICs likely won't get ROI. Title: Re: Are ASICs really worth the investment? Post by: cuteman on October 12, 2017, 10:05:04 AM Asic also can mine lots of coins and algos. not all ASICs can do this - for example D3 is tuned for only mining Dash. Title: Re: Are ASICs really worth the investment? Post by: Miracle_Man on October 12, 2017, 10:07:07 AM I would not buy ASICs now. Maybe when a new model leaves and if I can get it quickly. I do not think that the profit of ASIC market will be the same as before
Title: Re: Are ASICs really worth the investment? Post by: petaelite on October 12, 2017, 11:04:32 AM What is best asic miner for x11 algo now able to buy?
Title: Re: Are ASICs really worth the investment? Post by: shibob on October 12, 2017, 11:25:33 AM I think it's only worth for very first batch.
Title: Re: Are ASICs really worth the investment? Post by: crairezx20 on October 12, 2017, 11:31:04 AM Well for me base in what i notice if you late in buying asic the price was honestly increase its value in the future.. look at the L3+ before its cheap but right now the price is really increased a lot. it is hard to buy this asic hardware to mine altcoin..
So like the other said buy new releases hardware because its really profitable .. and you can even increase its value in the future to sell in the marketplace.. Gpu mining are also worth it since you can mine multiple coins it will depend if what altcoin would be profitable.. Title: Re: Are ASICs really worth the investment? Post by: leowonderful on October 12, 2017, 11:39:29 AM I’ve honestly made more just putting my money into BTC and Altcoins and just holding them. Mining can be lucrative if you have low electrical costs but most of the time, investing is more effective if you do it right.
Title: Re: Are ASICs really worth the investment? Post by: Steven3iii on October 12, 2017, 12:04:29 PM What is best asic miner for x11 algo now able to buy? X11 mining is getting very crowded out... you have to be clever and flexible to make any money. :-X Title: Re: Are ASICs really worth the investment? Post by: xxcsu on October 12, 2017, 01:27:00 PM Keep thinking of buying ASICS but my worry is that they are a one trick pony compared to say a GPU that I can mine multiple coins and has resale value. Are they profitable with average electricity costs? I DONT UNDERSTAND WHY NEWBIES KEEP ASKING THE SAME QUESTION " ITS TO LATE TO START MINING , IT IS STILL PROFITABLE ?" No one can tell you ! Always going to be a 2 group of ppl who telling you it's ok go for it , or dont bc you just wasting ur money ! You have to make a decision for yourself ! Do your own research ! No one can tell you for sure what's going to happen with cryptocurrency ! No one can tell you it's going to be profitable for you or not ! No one can tell you how much profit you going to be able to make ! ( if you can make any at all ) No one can tell you the ROI ( return of investment) time ! None of those calculators you are seeing on the web can tell you what's coming tomorrow , months later or 6 months later ! Those calculators telling you about today , at that moment when you typing in your information ! It's little bit of gambling , you must to decide you want to play on the lottery or not ;D YES some of us got lucky , made some money with mining YES some of us got unlucky , lost some money , bc when price started to fall , sold the coins , miners I'm going to save this quote, as it's a good answer to a lot of recurring questions. Probably you've also got it in a textfile lurking around, right? ;) ;D ❗️ Yeah, i might have somewhere in a txt file , but most of times i'm just quoting myself , from my own topic (https://bitcointalk.org/index.php?topic=2208927.msg22248565#msg22248565) ❗️ ;D ★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★ When I'm seeing the same questions again and again and again ... Title: Re: Are ASICs really worth the investment? Post by: Flep182 on October 12, 2017, 03:20:42 PM Keep thinking of buying ASICS but my worry is that they are a one trick pony compared to say a GPU that I can mine multiple coins and has resale value. Are they profitable with average electricity costs? I DONT UNDERSTAND WHY NEWBIES KEEP ASKING THE SAME QUESTION " ITS TO LATE TO START MINING , IT IS STILL PROFITABLE ?" No one can tell you ! Always going to be a 2 group of ppl who telling you it's ok go for it , or dont bc you just wasting ur money ! You have to make a decision for yourself ! Do your own research ! No one can tell you for sure what's going to happen with cryptocurrency ! No one can tell you it's going to be profitable for you or not ! No one can tell you how much profit you going to be able to make ! ( if you can make any at all ) No one can tell you the ROI ( return of investment) time ! None of those calculators you are seeing on the web can tell you what's coming tomorrow , months later or 6 months later ! Those calculators telling you about today , at that moment when you typing in your information ! It's little bit of gambling , you must to decide you want to play on the lottery or not ;D YES some of us got lucky , made some money with mining YES some of us got unlucky , lost some money , bc when price started to fall , sold the coins , miners I'm going to save this quote, as it's a good answer to a lot of recurring questions. Probably you've also got it in a textfile lurking around, right? ;) ;D ❗️ Yeah, i might have somewhere in a txt file , but most of times i'm just quoting myself , from my own topic (https://bitcointalk.org/index.php?topic=2208927.msg22248565#msg22248565) ❗️ ;D ★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★ When I'm seeing the same questions again and again and again ... Ah, you have on- and off-site backup of the quote. Adding to it, if I would want to start something, the last thing I'd do is ask random strangers about what they think I should do with my money. You know, unless I've clearly did my research and can start poking holes in BS stories :) Title: Re: Are ASICs really worth the investment? Post by: petaelite on October 13, 2017, 11:02:06 AM What is best asic miner for x11 algo now able to buy? X11 mining is getting very crowded out... you have to be clever and flexible to make any money. :-X On what algo for asic you will go now? And what miner is best to buy in that case? Title: Re: Are ASICs really worth the investment? Post by: Flep182 on October 13, 2017, 11:09:03 AM What is best asic miner for x11 algo now able to buy? X11 mining is getting very crowded out... you have to be clever and flexible to make any money. :-X On what algo for asic you will go now? And what miner is best to buy in that case? Please refer to the quote from xxcsu ;) That should give you all the answers ;) Title: Re: Are ASICs really worth the investment? Post by: Basmic on October 13, 2017, 11:30:25 AM Keep thinking of buying ASICS but my worry is that they are a one trick pony compared to say a GPU that I can mine multiple coins and has resale value. Are they profitable with average electricity costs? ASICs also have resale value, but unlike GPUs timing matters a lot more. Best case scenario: You buy a newly released ASIC straight from the manufacturer in China without insane markup from a reseller, mine a few months and resell it on eBay. Worst case scenario: You buy an outdated ASIC from a reseller at 200+% markup. You mine longer than it's profitable and can't sell it afterwards because no one wants it anymore. Of course, everyone wants to get the best case, so it is notoriously hard to get ASICs from the manufacturers right when they are released. Unless you have connections to China, or buy in large quantities, it might be impossible... Title: Re: Are ASICs really worth the investment? Post by: Basmic on October 13, 2017, 11:33:12 AM Keep thinking of buying ASICS but my worry is that they are a one trick pony compared to say a GPU that I can mine multiple coins and has resale value. Are they profitable with average electricity costs? ASICs also have resale value, but unlike GPUs timing matters a lot more. Best case scenario: You buy a newly released ASIC straight from the manufacturer in China without insane markup from a reseller, mine a few months and resell it on eBay. Worst case scenario: You buy an outdated ASIC from a reseller at 200+% markup. You mine longer than it's profitable and can't sell it afterwards because no one wants it anymore. Of course, everyone wants to get the best case, so it is notoriously hard to get ASICs from the manufacturers right when they are released. Unless you have connections to China, or buy in large quantities, it might be impossible... Title: Re: Are ASICs really worth the investment? Post by: ThaBigNec on October 13, 2017, 01:40:25 PM Keep thinking of buying ASICS but my worry is that they are a one trick pony compared to say a GPU that I can mine multiple coins and has resale value. Are they profitable with average electricity costs? ASICs also have resale value, but unlike GPUs timing matters a lot more. Best case scenario: You buy a newly released ASIC straight from the manufacturer in China without insane markup from a reseller, mine a few months and resell it on eBay. Worst case scenario: You buy an outdated ASIC from a reseller at 200+% markup. You mine longer than it's profitable and can't sell it afterwards because no one wants it anymore. Of course, everyone wants to get the best case, so it is notoriously hard to get ASICs from the manufacturers right when they are released. Unless you have connections to China, or buy in large quantities, it might be impossible... Title: Re: Are ASICs really worth the investment? Post by: Chan8 on October 13, 2017, 03:32:10 PM Keep thinking of buying ASICS but my worry is that they are a one trick pony compared to say a GPU that I can mine multiple coins and has resale value. Are they profitable with average electricity costs? ASICs also have resale value, but unlike GPUs timing matters a lot more. Best case scenario: You buy a newly released ASIC straight from the manufacturer in China without insane markup from a reseller, mine a few months and resell it on eBay. Worst case scenario: You buy an outdated ASIC from a reseller at 200+% markup. You mine longer than it's profitable and can't sell it afterwards because no one wants it anymore. Of course, everyone wants to get the best case, so it is notoriously hard to get ASICs from the manufacturers right when they are released. Unless you have connections to China, or buy in large quantities, it might be impossible... I truely believe this is not possible at all. To buy second miners that will pay itself off in a month time. Unless your friends just really hooking you up. But who in their right minds will sell a miner that can produce the selling price within a month. That just crazy. I too will like to get your friends contact and be acquainted with them. Lol. But if you honestly do get asics with great prices like that. Kudos to you. You are very lucky to have friends like that around you. Title: Re: Are ASICs really worth the investment? Post by: ahmedjamal1998 on October 13, 2017, 04:04:09 PM Well if you take a look at DASH for example you might get upset. Difficulty went up like crazy.
It increased eight times in under a month. This means that before investing even one dollar into any mining equipment, do the maths. One of the things that I keep telling people every now and then who want to get into mining (whatever it is, gpus or asic) is to never trust the online calculators. If you depend on them in the long run, you'll find out that they aren't accurate. You have no idea what's gonna happen to the profitability in the next month. Just exactly as what happened with DASH. Plus ASICs ,unlike gpus, make a lot of noise, heat and consume a lot of electricity (I'm not talking about efficiency. Just a single device of both.) So finding a suitable place for them and calculating how much you'll pay in electricity is another factor. Mining is fun but if you're looking for pure profits, simply investing in bitcoins would get you that. Title: Re: Are ASICs really worth the investment? Post by: Kronos21 on October 13, 2017, 06:40:00 PM Keep thinking of buying ASICS but my worry is that they are a one trick pony compared to say a GPU that I can mine multiple coins and has resale value. Are they profitable with average electricity costs? ASICs also have resale value, but unlike GPUs timing matters a lot more. Best case scenario: You buy a newly released ASIC straight from the manufacturer in China without insane markup from a reseller, mine a few months and resell it on eBay. Worst case scenario: You buy an outdated ASIC from a reseller at 200+% markup. You mine longer than it's profitable and can't sell it afterwards because no one wants it anymore. Of course, everyone wants to get the best case, so it is notoriously hard to get ASICs from the manufacturers right when they are released. Unless you have connections to China, or buy in large quantities, it might be impossible... |