Not giving up !!!

[dominicus]

I ran the numbers couple months ago and at ~$100/BTC, I was essentially paying the power company to run my GPUs so they would produce BTC.  Zero profit expectation.  Just enough production to be a bankless transfer of USD->BTC.

Today I noticed the difficulty had jumped up several days ago and the BTC price caved, so by this afternoon I was essentially buying BTC's at ~$120 each from the power company.
Not cool, so I bumped up the GPU's overclocking to get a bit more juice out of them and zaaaaaap! now I got this pixelation on my screen, like an early Christmas effect.
Gotta add my Crossfire GPU's to the tab, turns out this bitcoin adventure cost me >$350/BTC that I've ever produced.

So I figure I'll cut my losses and just get me a BFL Jalapeno with my BTC's while I can still pay for it with my small inventory of BTC, I figure I'll get that unit delivered in May 2015.
Everything should be fine from then on and I should break even around 2024 assuming the price holds up above $100/BTC.

If the price drops further, like below $40 this year, I'm gonna have to pull some cash out of my retirement acct and put an order for a KnCminer, 'cause the Jalapeno won't be enough to get me to break even again.

Wow what a wild ride it's been!  My wife will appreciate the living room not having the GPU jet-engine noise, and in 2024, I'll be telling my grandchildren how I persevered and didn't let all the warnings about suckers get me down.  I'll be their hero.

Alright, I think it's time for my 6PM pill.  Hash on!

[kopipe]

Dude...seriously...word of advice, don't chase your losses. Just write them off and move on.

I know it's tempting to do anything you can, like give money to Butterscamlabs and buy even more miners, but it's also tempting to spin the roulette wheel just one more time in a casino.

Don't tip in to your retirement or do anything else you wrote in your post. Keep your current coins, even buy more, and just sit on them.

[Birdy]

Dude...seriously...word of advice, don't chase your losses. Just write them off and move on.

I know it's tempting to do anything you can, like give money to Butterscamlabs and buy even more miners, but it's also tempting to spin the roulette wheel just one more time in a casino.

Don't tip in to your retirement or do anything else you wrote in your post. Keep your current coins, even buy more, and just sit on them.

I recommend the same, just put your coins safe, maybe they will be worth a lot in the future. But don't risk too much on mining, there is a lot that can go wrong.

[DrZooker]

You should take a look online about Butterflylab to make an opinion yourself. These products seem to have been hyped...

[dominicus]

Nevermind that.

The GPU's show all these odd-colored squares all over the screen, but only for displaying stuff on the monitor, they seem to keep hashing if I set them down to lower overclock.  I just plugged the monitor into the onboard graphics and looks fine now.

So the Jalapenio set me back $408 with the upgrade and all, but I'm keeping my coins.  Put it on credit.

Why would I sell my BTC at $70 if they cost me $350 to produce?  That's what the Winkelguys want no way José.  Just gonna keep at it until something good happens.

I checked the unofficial BFL site, they've delivered 3 month's worth of orders in just one month ship time, this is accelerating, shipping like hotcakes, so I should get my unit by January of next year, nice Xmas present, I'm sure.

And then all will be rolling downhill from there.  BFL is gonna ramp up even more shipping I bet as soon as the difficulty keeps rising and it doesn't make sense for them to keep mining them customer units.  I bet this is what it's really holding them up.

I'm seriously considering the KnCminer, cause thats from Switzerland, like the mini-cooper of miners, and they promise Sep delivery.