The big change I see coming is newer miners wont be able to jump in and try on existing hardware, mining has brought a lot of people to Bitcoin, soon they will need to buy dedicated hardware to participate.
You bring up a very good point. Given that most tech savvy individuals (really anyone with a computer) have some sort of graphics card in their computer, it was super easy to get into bitcoin and mining. Most participants I know in my [real] life tried out mining just for fun with the hardware they had. At the rate we're going, those same individuals probably wouldn't find the same interest in bitcoin once they learn that serious miners have to dedicate their money to certain hardware. It's one thing to invest in a high end graphics card that can serve a purpose besides mining, it's a whole other game when the hardware can only do 1 thing. |
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You get a mason jar full of semen
I put in a $25 million cashiers check
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some people on here have 6 mini rigs and more... do the math
We're all being sarcastic, we know it's very profitable  |
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1 Mining (creating BTC, providing network security)
2 Service (earning BTC already in circulation)
3 Advertising (actively making USD/BTC ratio higher by any other means)
The active way of investing. 1. Buy bitcoins. Say you manage 80,000 BTC (at 12.5 each).
2. Buy 50mn S.MPOE stock (~20,000 BTC atm). Buy 5mn S.DICE stock (~20,000 BTC atm)
3. Sit on ~40k BTC wait for the ASICs to show up or not. At some point in 2013 (or even 2014) when that industry finally is mature buy ASICs at a fair price (probably less than 1/10 what they claim now).
The passive way of investing. put it all in Litecoin. pump & dump the hell out of that.
The evil way of investing. I vote a sexy portfolio of ALL ideas  |
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Among other problems already noted...putting a rig in the freezer would not only heat up the freezer, but it's also subject to quite a bit of water and humidity...both of which don't quite get along with electronics.
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Hahaha that gif is fantastic |
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Obv a lot of info is still up in the air, but for right now, here's where we stand: The bASIC is the best GHs/1kUSD, but only by a little bit. The BFL SC Single and SC MR are behind by < 5% (but could potentially use less power), and the Avalon is behind by ~10% (but does not need to connect to a PC to mine, it's a standalone). The Avalon (once the price goes up to $1999), Reclaimer, and Jalapenos are all around 30-40% behind the leaders. I'll post my spreadsheet when I get home from work.  Good stuff, can't wait to see the analysis |
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 What is minecraft? It's a game where you craft mines... |
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For value, I'd say you have a winner, but by only a bit. Let's hope they can come up with a Rig similar to BFL's and at a cheaper price...then I'll be a happy camper Nothing 100% yet.
Quite right. |
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If i'm mining with 150GH/s of ASICs, why would I both doubling my power consumption for a measly 700MH/s from my 7970? Even if I did have free electric, the heat isn't worth the pennies I'll make in a day.
Exactly. And as vitruvio pointed out, even with free power, running your GPU 24/7 at near max power (or even overclocked) is far from beneficial to the hardware. Don't burn out the hardware in your sexy gaming PC just for a few more MH/s! |
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You get 3000 enron shares.
I put in my milkshakes.
You get my boys to the yard. I put in an old weed whacker. |
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Wow...just...wow. Coming from a SysAdmin point of view, you have noooo idea how often this happens...even more depressing is that it's a freakin' bank. |
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You get a matching pair of boobs, neatly vacuum-sealed and shrink-wrapped, wrapped in colorful paper, and tied up with red and green ribbons. The largest ribbon has "To: Katie McKinley" embroidered on it in metallic gold thread. The attached gift card reads: because their original owner will never love them as much as you will.
I put in a Get Out of Hell Free card (not valid on weekends, holidays, or silk binges, expires December 20th, 2012).
You get a fat, angry black man named Thomas. I put in some lint I pulled from my bellybutton. |
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1) ASIC devices not only meet their predicted specs, but some exceed them
2) ASIC devices become extremely cheap
3) USD/BTC values skyrocket to new highs and stabilize up there
IMHO : ASIC already seems to be exceeding spec.. and are cheap, maybe become extremely cheap this winter..
Haha I know, right. The day I posted that was the day BFL had me cross off #1 on that list with their updated specs  |
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So, uhm, why do people play Counterstrike?  Coming from an experienced CS player, we play so we can scream "BOOM, HEADSHOT" into our mics. |
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so, market forces will just kill traditional GPU based mining pretty much overnight unless ASIC based is all just a scam?
Other than CoinLab or other similar mining pools, it's quite probable most GPU mining will cease. There's no way even many of the top GPU rigs would be able to keep up with the power ASICs bring to the table. |
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In an ideal world, you'd get your preorder roughly the same time as everyone else...like preordering a game in GameStop, you can pick yours up the same day as everyone else (doesn't matter if you ordered yours first, or the 100th, etc). Theoretically, BFL learned from their shipping mistakes during the FPGA fiasco.
In a more likely scenario, go with what Squall said. If you're into mining, shopping with BFL's competitors might be a good idea. Otherwise waiting it out won't hurt.
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There is evidence these companies are in the process of create ASIC devices yes, but all of this evidence is based on speculation/statements. No one has seen any evidence of an actual prototype in their consumers or manufacturers hands. I think that is where the concern is coming from, since after all, how can you delivery early November if you don't even have a prototype out yet?
Agreed, and your statement was a bit more eloquent and to the point compared to mine |
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Well it is October and there is still no PROOF or whatever that there are ASIC..at all.. I can kind of see your side on this...there isn't any physical evidence of the device because no one on the forum is holding one in their hands. I get that. But there is PLENTY of circumstantial evidence to show otherwise. 4-5 different companies creating and marketing their devices...tons of obvious test runs shown in the network hash fluxes...BFL showing pictures of what their devices will look like on their website... Not to mention they've already sold past products that are still in use today, and they're giving you an opportunity to upgrade those products. The evidence is there...all you need to do is look  |
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I have my doubts that BFL has the same capabilities as a intel or amd when it comes to making chips run faster or slower
depending on how they came out of the "oven". But I am no expert and I have no idea on their testing capabilities.
Right, but instead of throttling directly on the chip, it's more easily done by regulating how much power the chip gets. Decreasing power is a quick, cheap way of slowing the speed down a notch. Also any software change takes time. Any board revision takes time. Heck.. anything that strays from anything that was not
planned before could cost BFL weeks based on their last performance of getting products delivered. That is the main concern
I would have as a customer.
Definitely a concern of mine as well. Hopefully things will work out for the better this time around. |
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