Bitcoin Forum

They were selling on amazon for $14 a week or two ago

Now they're $54?

Can anyone explain this?

Thanks

where is the link to this $14 one, I would like to have a look.
Sounds way too cheap to be true :P

The price of a bitcoin has gone through the roof and people are still naive enough to pay more for the miner than it will ever mine.

People are stupid?

People cannot do math?

Hype?

Hyperbole?

Basically everyone thinks that bitcoin will go to infinity so they all want to "mine". But in this case it would be better to buy coin than mine, so people will buy coin.

Which is good for those of us who have miners because there is less competition, and because the prices of our product go up.

This is why I tell people why I was smarter to mine than buy bitcoin. Which is exactly the advice to give people now.

Weird.

I was $14 on a amazon.com page

I bought 4 just then :D

But right now it's $54

It's the listing that's made by Jone's Gear.

Looks like it's time to sell my asic miners on Ebay. Fair enough; I doubt there is anyone here stupid enough to pay $40 bucks for one with bitcoin ($44-10% Ebay premium.) That would be .05btc; they are not going to mine that amount period.

Ah well. If anyone wants one for .05btc, drop me a line.

C

I'll take multiple for 0.02 as long as they're working!

they don't compute and update the prices so the sellers take advantage of it and have earned more.

I've seen ASIC USB miners at $10 on Amazon.

Well that was when a BTC was less than $150.

But now, with the crazy inflation (either inflation or deflation.. I don't know which), people stupidly started buying them at $40 each

If any of you have ASIC miners, I would suggest you sell them now.

You'll probably get so much more by selling them now then from keeping them to mine.

I bought a blade from Jones Gear on Amazon last week for $229. Now I see it's been repriced to $379. My purchase probably reminded them to update the price.  ;D I do have to say that Jones Gear gives great service.

Yeah I bought the USB Block Eruptors from the same store.

Damn it's gone up.

Nice! (sell it and make a nice profit! ;) )

When I bought some ASIC USBs I bought from them as well

Their customer service is so good

I smell a deal forming here. .035btc each, I have two..... Hell, I'll even put them in an envelope with a postage stamp :-)

C

This is stupid.. its because people are willing to pay more. Just buy from sites which hasnt risen their prices yet

Classic arbitage, but to be honest the right answer is just don't buy these things. They're cute, funny, but they are not for real mining.

A worthless item on sale for 50% off is still a worthless item.

C

Just calculate it.. take the prices from those cheaper ones.. ASIC Labs told me that have 4 more 550ghs miners for sale, shipped within 10 days, I have bought one, dont have immediate money for another, but whoever buys it is in profit. thats for sure.

not stupid items at all

It seems like no matter what, buying ASIC miner is never good deal for buyer. And I though ASIC miner prices will go down...

Nice way for newbs to start testing the waters and see how it works... but doesn't make sense to buy in bulk, better options out there.

I bought a bunch of blades for $180 shipped on amazon a few weeks ago, pretty happy with that choice now.

No sense to buy in bulk?

I have to disagree - this is like the last 2-3 weeks where u can still have some "fun" with Blades and BF ones... if you want to buy some, buy it NOW and in BULK.

Sell it during january/february if u have to pay for electricity. keep if otherwise i guess.

Talking about the USB miners, blades are good stuff...  I own several of them.  If you got them at 180 it was a great price.

how about.....

0.0226953269?

It is not worth, even one Block Erupter USB. I would preffer mine with GPU if you need some fun. No need to waste money...

I'm sorry, was that line noise? :-)

Technically you're ripping yourself off with that offer. According to Genesis block it will mine at most .01xxx bitcoin, so .02 is the most.

However I did just take a look; I got it for $25 back when the difficulty was at 67m, it probably mined .14 bitcoin, with a max profit of $119. So 119-25=94 or so each, almost $200 profit.

So.................. Even though at the time it was the stupidest idea on the face of the earth to buy it, turns out it was a reasonable deal. Oh well, so maybe it *is* worth .035btc now, would you like to pay by bitcoin? :-)

C

A few weeks ago, I bought a couple of 333MH/s asics for $25 and a blue fury for $150.  Theyre way more expensive now.  I doubt ill break even on them, but I enjoy them and it helped me get a few BTC in my wallet which I can roll into more hardware buys.  I just view the negative return as a transaction fee from going from $ to BTC..

Not so fast. You paid about 0.25 BTC for the erupter. Subtract the 0.14 BTC it mined, and you so far have lost only 0.11 BTC ($90).

I hahve 6ghs speed with y erupters :) and i will just sell them later when [IF] i get better machine.

If he bought the erupter for $25, he is in profit indeed, but he missed even bigger profit if he just bought BTC instead.

That thinking is in error for a coupled system like bitcoin.

Do you understand why?

Answer: They're coupled: If everyone was buying bitcoin in Jan/Feb/Sept then prices would have screamed up just as they did in the last week. Difficulty would not have gone up, so mining would be far more profitable. That is because bitcoin price and difficulty are linked, you can't change one without the other.

So *never* feel bad about the choices you made or did not make in the past. It all brought you to here. I paid in money, I earned bitcoin which is suddenly worth "money", and the lack of new miners is keeping me in the "money". All linked together.

C

I don't think they are worth it anymore personally.

They are worthless now unless you get them for free or something.

It's just too hard to mine anything now.

i have also seen couple of them on ebay for 10usd each selling in bulks of 5..was not more than 2 weeks ago..but haven't bought though:/

Yeah I saw that, too.

With the current price on btc, you'd have gotten your money back within a month if you bought each for $5.

BTC up so erupters are up!

Every miner is UP! Just look at blades at amazon. I bought them for under $200 few weeks ago. Now - $500 ? That is just insane!!!!! You can get them cheaper at asic labs, maybe even buy KNC miner..

But can you get them the same week you order them? That's the trick...  ;)

Ok, stupidest auction ever:

http://www.ebay.com/itm/Butterfly-Labs-BFL-Jalapeno-Bitcoin-Miner-ASIC-Works-In-Kansas-City-/301027169857

Summary: Jalapeno for $640.

A jalapeno that BFL probably threw in the garbage. With a NO WARRANTY STAMPED ON THE TOP.

People are so far beyond crazy they have entered stupid-town.

http://www.ebay.pl/itm/111255545752?ssPageName=STRK:MESELX:IT&_trksid=p3984.m1555.l2649 u can get one for 10$ now.

Sorry buddy, you are the Noob.

The market sets the cost of this stuff, then noobs run with it and make it unprofitable. If bitcoin goes to $10,000 tomorrow or the next month what do you think a USB block eruptor would cost?

The run from $200 to $1200 sent BE from $15 to $50. Difficulty increasing while price fell since then has made them decrease in value.

Oh it's the invisible hand of the market.... puppeteered by noobs who can't use a calculator.

Reasonable ROI on mining equipment is 3 months from date of expected delivery, with highly inflating difficulty accounted for.

If we nailed the difficulty to 1.7 Billion right now, you'd make 0.0025 a month with a USB block eruptor, therefor in a situation of stable difficulty 0.0075 would be TOO MUCH TO PAY FOR IT. If you got one tomorrow you'd have a hard time getting 0.005 out of it ever in the real word ..

It is completely insane to pay more than $10 for one now, even if you think BTC will hit $50,000, use the $10 to buy 0.01 of a coin!

If, son, if. If bitcoin hits $10,000 those BE are no longer mining dust and thus are worth more. Nobody is going to be selling a block eruptor for $10 when it will mine $10 in a day after the exchange rate jump.

That is exactly what happened just a few weeks ago, the exchange rate jumped and those with mining hardware saw value added overnight!

Now, no, they aren't worth jack. That's why they are selling for less and less every day. Noobs are what keep the price high, not what set the price.

I am truly sorry about your lack of math skills maybe you can sue the school district?

BTC ain't likely to hit 10K while difficulty is this side of 10 billion... ergo by then they will be mining 14 cents a day, whoop de woo.

Bitcoin would have to go up past $120,000 tomorrow, on this difficulty, for a USB block eruptor to make $10 a day. I mean you cooooould be making $10 a day deferred 5 years if you like to think about it that way. But in half the world (Europe, parts of US) they're not even making electricity cost right now.

What if someone found a way to get "free electricity" and they started mining like nuts? I wonder what the biggest "farm" is out there at 1 location that's mining BTC?  I bet i tcouldn't last for long, like at a big company, before the tech staff caught on, or the financial staff saw their electric bills spiked.

Who has the time to do math? Is it not obvious by my fascination with "10" that I am just generalizing? Nah, you've got to be the one twat who has to point out arguments that don't exist.

I'm done, go play your kid games elsewhere. If you don't understand the fact that mining hardware's value is partially derived from the exchange rate I can't help you.

No need for a flame war here. @pontiacg5, you simply missed his point that it is more profitable to buy 0.01 BTC for $10 than to buy a BE for $10 because the BE is going to mine at most 0.006 BTC.

Never did I say that a BE is a good idea, just that the value of one is based on the exchange rate. If the exchange rate goes up while difficulty stays the same (as it did in nov.) then you get this thread, asking why.

So this twat comes along, quotes a post from two months ago, and says "noobs." It has nothing to do with noobs, and everything to do with the exchange rate.