Bitcoin Forum

Are we Becoming SLAVES to the Miner manufacturers
With all the mining hardware looking harder to make some profit on
are we just being left with the scraps or dust of miners left from over the big boys when there finished with them
Or have we just financed all the big players farms with or pre orders, while most of them mine away with them until there is just scraps left for us to fight over
Then the old question needs to be asked is it better to hold on to our coins until one day they become worth something to turn into goods/fiat
or just buy coins ?

Yeah, of course we financed them. I actually think a lot of the Miner manufacturers started as people just wanting to make mining equipment for themselves but then they realized it would cost a lot for R&D and that the hardware would rapidly depreciate. So that's where we come in. We solve both of those problems by paying for their R&D via preorder and then they can dump their depreciating hardware off to someone (us).

Unfortunately, all of us miners are fools compared to the manufacturers. They are the only ones making bank out of the whole mining window of opportunity.

I am not certain you should blame the traditional mining manufacturers for the move to large scale mining.

It seems to be part of a general trend to centralised mining because centralised mining is profitable, especially in areas with very cheap electricity.

There is also public demand for centralised cloud mining as domestic mining becomes more difficult.  Recent miners such as the SP10/SP20 and SP30 are not designed for domestic use - they are designed for data centres where rack space is more important than noise levels.  Anyone who uses cloud mining is encouraging centralisation and large scale mining.

Finally there is currently venture capital for large scale mining independent of the chip manufactures, for example DataTank.  There are few public details available but I would suspect most of the large centralised mining centres are not directly owned by the mining manufacturers. (Yes I know about KNCMiner).

It is possible all the American ASIC miner manufacturers (ButterflyLabs, HashFast, CoinTerra) would be in much better financial shape with some hope of survival if they had moved earlier into the centralised mining business rather than concentrating on trying to sell miners to the public.

In summary it appears the big money is flowing into centralised mining and this may have happened regardless of anything the mining manufacturers did.

wisdom is that merchants made more money than miners during the Gold Rush . !!    ;)
The wealthiest man in California during the early years of the rush was Samuel Brannan, the tireless self-promoter, shopkeeper and newspaper publisher


https://en.wikipedia.org/wiki/California_Gold_Rush#Profits



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^ Precisely. 

Don't think I would call it slavery though given that participation is completely voluntary.

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^ Precisely. 

Don't think I would call it slavery though given that participation is completely voluntary.
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Well i should really call it JUNKIE`S to Miner Manufacturers, cause like it or not were all HOOKED!

we are all slaves to them since BFL first preorders.

i dont even know why people keep buying miners when u obviously cant break roi.

manipulation at its finest, they are mining with equipement u paid for while its profitable, and they ship them to you when u cant even return investment.
thats why i was against asic devices in the first place.

I think stories of people got rich via mining is the true culprit to this. Those stories are all over the internet. Although they were true, they are sadly out of date now. If newbies would have think it through, they would have noticed the fact that no manufacturer would sell them a money making machine at a lower price than what they could make from it.

I agree with what you said , the get rich quick has gotten the fever running in newbies