*smirk* yup - sure are  $1750 bitfury (~17BTC) has made over 18BTC already and is still running at 260GH any antminer bought at >3BTC has already broken even all my other antminers will break even by mid august at the lastest my antminer S2 should pay off no later than october at that point, I will still have >4TH of paid-for equipment mining 'free' by the end of 2014. If bitcoin is still around (i think it will) and value goes up (it will if it stays around) then these machines could be viable to operate right into early 2015 on a profit You really don't understand the risk. For every bitfury, there are 10x as many BFLs and Hashfasts. I know of one person on this board that paid 6800 BTC to hashfast and still doesn't have a single Gh/s to show for it. All it takes is one mistake to wipe you out. Whether it's a defective board that starts a fire, downtime you never anticipated, an exchange that goes belly up with your money there are hundreds of ways to lose as a miner. And only one mistake is needed to wipe you out. For example, Activemining. Ken has taken 20000 BTC and turned it into less than 1 Th/s of operating gear. You invested in that right? As I said before, it only takes one mistake to turn all your work into a loss. But that's if you go the preorder route. Everyone knows that preorders are uncertain delivery dates if at all. If you order in hand, or anything that ships within a week from a reputable seller like Bitmain, you have a great shot at ROI. I think 99% of Bitmain customers can attest to the low risk involved with buying from them. |
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I received my 2 Ants this morning from Greaterninja, even before a shipping notice or tracking number.
Ordered on March 18th. That's 4 business days excluding the weekend. Bitmain/Ninjatech, you guys rock!
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ebay users also pay 150-200% spot price for gold and silver
This is true u can buy silver from silvertown and then sell it back on ebay for a profit but the fees eat up most of the profits and ebay only gets richer. That's the one thing I dread selling anything on eBay is the fees. Selling anything of value, that 10% plus listing plus reserve really kill any profits you think may be getting. I hate eBay/Paypal for this among a multitude of reasons. |
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Very deceiving title, these are the Coincraft A1 clones that have sprouted in almost every other thread.
Between Dragon 1T, Lightning, JT Miner I can't tell the difference.
In China these sell for like $2500-$3000, yet all these sellers try to upsell in the EU and NA for like $4k-$5k.
Can't trust any of these dudes...
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OR, you could just buy bitcoin today and make a 27% gain in 14 days if your prediction comes to pass. Why work hard all year, pay rent and electric bills, and risk capital on bitcoin gear to make less money?
You don't understand then. I buy mining equipment in BTC using coins I mined with the current hardware. When I am talking about a 20% profit i am talking BTC/BTC, not BTC/USD. If i hold my x BTC it will still be worth x BTC. If i buy a miner, I firmly believe I will make x+(30 to 40%) BTC minus electricity costs (at current price, about 25%). Most miners are negative. They are losing BTC. *smirk* yup - sure are Yes they are. I've been selling many USB miners at a price that make it impossible to get any return even at current difficulty. Everyday miners are sold on ebay the same way. The hardware OP is talking about cannot be profitable. Most people have no idea how to calculate a return on investment, yet they buy Bitcoin miners. Not if you buy the right miners, at the right price, from the right sellers/resellers, and in hand only. Bitmain has disproved the whole preorder notion with their S1s. Their S2's, though 2 week preorder, sold out within hours and should ROI if it's delivered on time beginning of April. Of course EBay buyers won't ROI, they didn't do their homework!  |
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Hi Noncetech,
When can you expect to start shipping completed miners? Any rough date in mind?
Thanks,
Chuck
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I really hope Bitmain goes back to selling in stock hardware for the next batch of S2s. I really don't like this pre-order bullshit.
Ordering the S2 a month before it ships puts too much risk on the buyer due to difficulty and Bitcoin price fluctuations.
What happened to only selling in stock hardware, Bitmain?
That's what I noticed also. If it takes more than a couple weeks to deliver it's officially a "preorder". Anything in "Batches" is a preorder. Just when you think the only reliable ASIC company was going so wel, they pull the preorder model on us. Also, what's up with this render? It's still on the Bitmain website:  You'd think they'd update it to a real photo by now... |
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I generally feel bad for anyone that's encountered exchange issues, as I've been very fortunate with my dealings.
Used BTC-E and Cryptsy mostly, and usually a painfree and efficient process. Haven't tried Virucurex yet, so can't really speak on their validity.
What I do know is once I've made a trade from say Terracoin, Freicoin, Takcoin, Mazacoin etc to BTC, that sucka's going out to cold storage in -0.002 seconds and not a second longer.
Like others have been saying, never trust an online entity to hold anything you aren't willing to lose.
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Like others have been saying, read around the forums first to educate yourself.
BFL, AMT, Hashfast, etc are mining companies to be very wary of. You'd do yourself a major disservice not doing a bit of research before investing money into an expensive miner.
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Just a point.. the average investor would kill to get their entire investment back in 1 year.. just saying.
With bitcoin mining, you either break even in a few months, or you never will. With "average" investments, you may have to wait longer, but eventually you'll break even. ^that is not at all true. 6 months ago it looked like antminers and anything drawing >1w/GH would be useless by now. however, it now looks like they have another 4-8 months of profitable lifespan ahead of them. additionally untrue is your second statement. not all investment vehicles break even. equipment can burn out or break, the market can change, or the value of your product can dive. There is never a guarenteed break-even. but bitcoin miners stand a good chance You can construct any fantasy you wish and justify it by examining a time frame where bitcoin exchange rates increased by a factor of 15. The reality Syke is explaining to you is that in the current environment a miner earns as much BTC in the first 60 days of operation as it will in the remaining life of the machine. If you don't break even in that time frame, odds are you will never see a reasonable risk adjusted return on the investment. And bitcoin is as likely to return to $20 / bitcoin as it is to revisit $1200. clearly there are miners who think otherwise in order to be buying all the current equipment to the point of batches being sold out. I am not talking about bitcoin going to $3000 or $7000. Im talking about bitcoin rebounding to $700 which I think is a totally fair value to use in my calculations, and with difficulty starting to taper a bit (we were doing 30% jumps back in november) towards 15%/jump average over the last month, I see a window to make a 10-20% gain per machine by the late 2014 (breakeven around july/august, 120% by november) and with a $10,000 investment that is a pretty good outcome. bigger picture - im bullish. I think we are right near the bottom of the charts right now (might push to $525 at the lowest) and that a rebound to $650 will happen in the next 14 days, and sometime around may/june we could rally back past $1000. if this happens the bitcoins invested/mined will be worth even more than the power costs. ^yes, that last statement is speculation. But if it comes true, my 20% gains will be much closer to 30-40% gains. Not bad for a 6-10 month investment OR, you could just buy bitcoin today and make a 27% gain in 14 days if your prediction comes to pass. Why work hard all year, pay rent and electric bills, and risk capital on bitcoin gear to make less money? But where's the fun in that?  I don't know what it is about mining, but owning even a little hash makes you feel like you're part of something big. The upkeep, the maintenance, the monitoring of hardware makes you feel like you're in charge of your mining datacenter(in alot of cases, yes). The block rewards and chance to ROI are the cherry on the top. |
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Based on the chart it looks like the price is leveling or ready for price increase:  My guess is either stay at current levels or maybe a slight hike to around $570-575 price. |
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They claim to be bought out by BFL lol https://cryptostocks.com/announcements/1357Butterfly Labs Acquisition! We are pleased to announce that PhotonicMining has received an acquisition offer from Butterfly Labs. We are thrilled about it as we will definitely profit from the support of an established market player like Butterfly Labs. All shares on cryptostocks are still valid, and dividends will be paid as soon as the deal is finalized in order to reward our early investors. This wouldn’t have been possible without the support of the Swiss Bitcoin Association, and particularly Luzius Meisser. To celebrate the event we are throwing an acquisition party which you are all invited to. Join us in Zürich on March 25th from 6pm at: In Böden 139 8046 Zürich Switzerland Now the scam operation is complete! It didn't feel completely fishy without ties to a negligent or incompetent organization. With BFL, this defiinitely clears things up!  |
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The uninformed or noobs usually go to EBay first or Amazon or some other online store with no idea what pricing should be like.
I'm glad I find out Bitcointalk when I did, as there's always someone in the community that would set the record straight.
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Simple, if you don't want to risk mining for 5 or 6 months, then just buy and hold coins.
There's some tricks to the mining ROI trade though by selling your equipment at the right time or under clocking your miners to save on your electrical bill.
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This is a good thing considered all the 1 TH/s miners releasing onto the network, better than the over 20% jumps previously.
Still, we have yet to see BFL, KNC, BA, AsicMiner hit the network yet....
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Not sure what the OP is suggesting, doesn't seem like we're even close to a 51% attack on the network. I'm pretty sure I read somewhere GHash.IO would take precautions to limit the size of their pool to limit this scenario from occuring. As of right now GHash.IO is only 25% of the network hash rate: https://blockchain.info/poolsEven if say in the unlikely event GHash and Eligius were to merge, they'd only be at 40% of the network. FYI, I mine at BTCGuild which is the 3rd or 4th largest pool, depending on Discus Fish, primarily for the steady payouts and the stability of the pool. If Bitcoin is going bye bye, it won't be due to a 51% attack. Use http://blockorigin.pfoe.be/top.php, not blockchain.info which is inaccurate and heavily influenced by which pools are lucky/unlucky. Noted, thanks for the link. Looks like BTCGuild is holding up the #2 spot at 15%. Even with the different percentages, still looks like we should safe for now from any 51% attack on the network, unless something drastic happens soon. |
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You can read the title
Anyone think the crap shot is worth it?
This is all speculation but figured it was an interesting topic.
Syber
With the big boys yet to ship(KNC, BFL, BA, etc) it doesn't make sense to solo mine with 5 TH/s. That's like a drop in the bucket compared to the network hash rate of over 40 Pentahash. Crap shoot is definitely not worth it, and would be a waste of electricity costs. |
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Wow that's pretty terrible! Might as well get the Antminer S1 at $2.64 per GH. Cloudmining really is a scam operation at those rates! |
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Not sure what the OP is suggesting, doesn't seem like we're even close to a 51% attack on the network. I'm pretty sure I read somewhere GHash.IO would take precautions to limit the size of their pool to limit this scenario from occuring. As of right now GHash.IO is only 25% of the network hash rate: https://blockchain.info/poolsEven if say in the unlikely event GHash and Eligius were to merge, they'd only be at 40% of the network. FYI, I mine at BTCGuild which is the 3rd or 4th largest pool, depending on Discus Fish, primarily for the steady payouts and the stability of the pool. If Bitcoin is going bye bye, it won't be due to a 51% attack. |
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Just some friendly critique, it'd be wise to take off the Mt Gox price ticker from your website, AsiaBTC.
Don't think you'd want your company endorsing a scam exchange.
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