No one has bought this yet?

I'm surprised. If it is for real and not a scam, I'd probably go as high as 175 now (up from 160).

Still don't think Inbox will like my offer though.

You can't buy it because you missed out. When Avalon ships batch 3, there will be 100 TH/s of Avalon machines out there.

Or you can buy discrete Avalon chips for about $9.50 for 282 Mh/s. That is $2200 per 65 GH/s. Even taking into account cost of the PCB and power supply, that is still in the same range.

Or you could have ordered BFL for about $1300 / 60GHs.

ASICMiner is more expensive, but it's only for the people who have missed out. Their prices will come down when the Avalon chips ship and you see DIY Avalon machines anywhere.

Why do you think effort put into mining a bitcoin has anything to do with it's price??

It's the other way around. Higher prices mean mining is more profitable so more people will mine. It's the other way around.

Plus bitcoins aren't more expensive to mine now. A 65 gh/s cost $1500, that is equivalent of a GPU that does maybe 4.5 gh/s. Mining has gotten cheaper, not more expensive.

Even if bitcoin goes to $10k or more a coin, it doesn't mean GPU mining will be worthwhile if ASICs are readily available and much cheaper than GPUs.

Bitcoin price has no correlation to mining difficulty whatsoever.

Bitcoin will not become more scarce. There still will be 3,600 coins mined a day for the next 3+ years until the block reward halves again.

The 1200 Avalon ASICs from batch 2 and 3 ALREADY SOLD will add roughly 80 TH/sec to the world hashing power. That alone will double the difficulty.

Yes, all the present GPU miners would love to keep GPU mining relevant but that is not going to happen just because they want it. There have already been enough ASICs pre-ordered and on their way to kill GPU mining for good. I listed them in moy other thread, but you have 2 batches of Avalon miners, plus hundreds of thousands of discrete chips, all the BFL pre-orders, ASICMiner USB and Blade sales, plus the 200TH ASICMiner is adding this summer. That is ASICs that are already coming. They were ordered long ago and just beginning to ship now. Even if a single new ASIC was never sold from here on out, GPU mining would still be dead. I don't think GPU mining can survive a couple hundred million difficulty and that is what we are going to see soon.


GPU mining can only live due to litecoin. But I believe litecoin will die sooner than later because it is purely used for speculation. You can't spend it anywhere and it offers 0 advantages over bitcoin. It's going to be a market of litecoin miners selling litecoins to each other. No one else buys them.

When ASICs are cheap and easy to buy within a week they won't be profitable anymore. The margins will be so low that only people with free electricity will even bother. Competition will drive the price down so they just barely make their money back, I'm guessing in a year or two. It will be a low margin grind and won't be much fun except for those who really enjoy mining for it's own sake.

You have maybe a month left of being able to mine with GPUs. No GPU you buy today will be able to pay for itself that quickly.

Yes, people will stop buying ASICs when they realize they aren't making any money with them because difficulty is way up there (in the several hundred million range).

The problem is that enough ASICs to hit that number have already been sold (but not delivered) and people will continue to buy them until the difficulty actually gets that high.

You have to compete with:
- Avalon batch 2 (just began to ship)
- Avalon batch 3 (shipping soon)
- ASICMiner USB and blades (blades available now, USB shipping soon)
- BFL 60,000+ orders (ok they may never ship all their orders, but they will ship enough to make an impact of difficulty)
- A couple of hundreds thousand discrete Avalon chips
- ASICMiner's claimed 200 TH they are adding this summer

All of those have already been paid for and are on their way. It's too late for GPUs.

oh I see what you are talking about now. They actually hold on to your bitcoins?? That's crazy!

I don't understand your question. If you are buying bitcoins why do you have to withdraw funds with Dwolla? Deposit with Dwolla, buy bitcoins, and then you are all set.

Also I don't see what you are talking about in the CampBX FAQ.

MtGox is never brining Dwolla back.

This isn't just a little white lie. MtGox would have to register as a money transmitter in all 50 states. Plus it costs $25 million dollars and they have to have insurance for all the moeny they transmit.

It's never going to happen. Don't wait around for it.

Bitcoin will be lucky to hit $250 again.

Let's start small.

Wait, you need to get a PSU to run an avalon??

I was under the impression that the were plug-n-play and shipped ready to go?

I bought a Avalon batch #2 recently. Where can I find out what I need so I will be able to use it when I get it?

I don't think the Eruptor USB sticks will ever pay for themselves.

The ASICMINER-PT shares have been great so far (I own 100 shares myself).

But basically, it's too late to get into ASIC mining and expect to make any real profits. The prices of ASICs will drop once the difficulty soars and stabilizes.

We will reach a point that you'll be able to buy an ASIC that pays for itself in a year or so with small profits after that.

I don't think that Avalon Batch 4s will be a good deal if they ever come out. The hundreds of thousands of discrete Avalon chips order will be out before then and the market will be filled with DIY miners.

definitely a scam, see the other threads about them in the custom hardware forum.

I'm guessing never.

Blades are 50 btc for 13 GHs. This Avalon is about 60-65GH/s, correct? So that makes it worth 5 blades, or 250 coins.

But you can get the blades shipped to you sooner that you can get this Avalon and they are less risky as you know that they are actually available and not a scam.

I'm not saying Avalon is a scam, but you don't know if any random person on the internet is legit or not. I've already encountered 4 scams trying to buy Avalons, and many more ones that were too obviously scams to even bid on. So, I'd say this Avalon is worth 220, maybe 230 coins at most.

But if you look at the expected ROI based on anticipated increases in difficulty, it is probably worth no more that 175 btc. Personally, I wouldn't pay more that 160 btc, but I know there are plenty out there that will. They will lose money though.

Do most people have a verified account? Is it hard to get an apostille? I keep on meaning to do that.

Easier remote management. You can more easily write scripts to do things like pool hop automatically.

I know Dwolla is shut down now.

Have people been able to do international bank transfers?

How about OKPay?

Is CampBX the only other exchange available to US residents right now?