About 50 BTC

xCrowd has been removed from the list of potential investments. It seems that by far the majority of the group does not want to invest in their products.

That leaves us with either Cointerra or HashFast as our next investment. I am suggesting HashFast because of their miner protection plan. If Cointerra delays then we are essentially screwed, but if HashFast delays then at least we get free chips to make up for it.

Does my reasoning make sense?

Re: huge wall of text

tl;dr

I was just pointing out that people that have only been around for a few months don't understand the full picture, and haven't given themselves ample enough time to get screwed by BFL- that's all.

I stand by my previous assessment. I told you 4 months ago BFL was not going to ship when you were expecting them to. This should not be a surprise to you.

Also, where are you sourcing 110 Th in September? Avalon chips? 

Oh jeez... don't get me started..

o.O so pretty!

That is wonderful!

I love all these yahoos that are defending BFL, notice how they've been around for less than 4 months.. some of them only 2. They have yet to be scammed by BFL, so just let them blow their hot air.

Make sure to report back to us on the success of your BFL orders and all those BTCs you made...  

Date Registered:   April 20, 2013, 05:31:35 PM

Carry on. 

Go away idiot.   

lol, I was about to contact them about this. Thanks for saving my time!

I hope other ASIC companies are taking notes.

Thanks Dave for keeping us up to date!

At current prices if they are late one month (which as we've seen thus far in ASIC R&D that is very possible) then they will not ROI. I don't get how Cointerra thinks this is a good deal... I may still purchase one in my diversified group buy.. just to diversify a little more, but nothing like I would have ordered had they been looking out for their customers when deciding prices.  

Cointerra needs a miner protection program and I'll get free chips if they're late. If Cointerra is late, all I'll get is a loss of half my investment.  

agreed. Crappy shopping cart and the ordering process/prices is/are very confusing.

Ah, yes. I fogot to edit the OP.

To be clear, this group buy is open and accepting funds. 

I expect us to be in the late October crowd. I would not consider our order as an "early" one.

Thanks. 

It doesn't make since to me. They had the benefit of being one of the last companies on the scene. They could of undercut everyone's prices by 10% and been the easy choice of what to buy in mining hardware. At this point they're just another ASIC company. If they are a month late, then their pre-order customers will lose half of their investment. That's not a good way to start off in this industry, then they'll have their own herd of haters just like BFL.

The thing is these companies don't care. We pay for the expensive R&D and after they're done with that, they don't need us anymore. They can make as many units as they want and self mine if it's more profitable than selling them. All they need us for is to fund the R&D so that they can make ASICs for themselves at cost for the rest of eternity. Everyone seems to be thinking that we're helping out the bitcoin economy by ordering from these companies, but in reality we're just increasing their pocketbooks.

I hate to be the elephant in the room, but any word on August shipments?

I know you guys said late August, but that is approaching quite soon.

Confirmed thanks

I don't think I explained myself thoroughly in the OP.

When gen1 ASICs become unprofitable, people will be looking for a way to make them profitable again. There will be a huge incentive for someone that wants to create a truly innovative SHA-256 coin. I will lay out the basic business plan here:

1. Buy unprofitable ASICs for pennies on the dollar.
2. Design and develop a ground breaking SHA-256 coin. Better than all ALTs existing and better than Bitcoin itself.
3. Hash power will be split between Bitcoin and this new better alternative by speculators and people that believe in this new coin being better than Bitcoin. The split in hash power will allow the overlay to make gen1 ASICs profitable because hashing power is split in between Bitcoin and this new alternative coin.

For instance, assuming a 66% monthly increase in difficulty, an Avalon will be unprofitable on May 14th when the network difficulty is 4863 million. If half the hash power switches to a new innovative SHA-256 coin, that would effectively bring Bitcoin difficulty down 50% to 2431.5 Million and you're back to making money again. Plus, maybe this new ALT coins is so much better than Bitcoin, that it is more valuable to mine than Bitcoin itself to due to high exchange prices from speculators. So, it could be a greater than 50% reduction in hash power in that case.

I have been right about a few things since I came on these forums and started posting. 1. Litecoin, 2. BFL being shady, I hope these won't be the last either. It is somewhat of a wild prediction, but I like throwing as many conspiracy theories out there and seeing which ones stick. Then I can bump this thread in a year and bump my chest if I'm right.   jk (or... not).

Also, it doesn't even have to be a new SHA256 ALT coin. Perhaps a lot of development is done to an existing one to where it is more valuable to the community. Huge market shifts (UP!) in the value of SHA256 ALT coins could dramatically change the profitability of SHA256 mining.

I wasn't referring to merge mined coins when saying "SHA256 Alt Coins." Although, I wouldn't be surprised if one is as successful as Litecoin as well. I think Namecoin is a wonderful idea if fully implemented, also ZeroCoin looks very promising if it can come to fruition.