Aulux
Newbie
 Offline
Activity: 6
Merit: 0
|
 |
March 10, 2014, 10:41:51 PM |
|
When a money making machine is no longer profitable, the best thing to do is selling the thing xD
|
|
|
|
|
flounderella
Sr. Member
Offline
Activity: 350
Merit: 250
Bitcoin Evengelist
|
|
March 12, 2014, 10:00:20 PM |
|
It's like the California gold rush. You could pick up a sieve and go find a little gold, or you can make thousands of sieves and sell it to thousands of prospectors.
Some people like the rush of being prospectors and aren't in it for ROI. Don't get me wrong. ROI is certainly nice but after a while, the feeling that you are part of something much bigger than just seeking ROI becomes exhilarating.
|
|
|
|
|
|
kthejung (OP)
|
|
March 13, 2014, 04:10:32 AM |
|
It's like the California gold rush. You could pick up a sieve and go find a little gold, or you can make thousands of sieves and sell it to thousands of prospectors.
Some people like the rush of being prospectors and aren't in it for ROI. Don't get me wrong. ROI is certainly nice but after a while, the feeling that you are part of something much bigger than just seeking ROI becomes exhilarating.
I used to think that way but it's not true. Gold prospecting is luck based because a guy with a shovel can possibly find more gold than a guy with a bulldozer but the profit from bitcoin mining is much steadier and dependent on the size of investment due to pool mining. Having said the previous, I just purchased 6 Antminer S1's from Bitmain and 3 psu's from Tigerdirect so I am back to mining. The difficulty did not spike as expected so I decided to get back into the game. Bitmain is a great company to buy from because their Antminer S1's are available now(not pre-order) and they decrease the purchase price as mining difficulty goes up. People who bought from Cointerra or Bitmain earlier this year made some pretty good money. |
|
|
|
|
lowbander80
Legendary
Offline
Activity: 1036
Merit: 1000
|
|
March 13, 2014, 12:30:40 PM |
|
In the hole world the companies making and selling the machines for printing fiat are currently no more than 4
They are selling them instead of printing some for themselves because they do not control the $ EURO or other currency.
I guess same is the bitcoin the control is not with KNC BFL or BITMAIN but to you to me to any user that reads this post and mines or owns bitcoin.
Having said that added to my collection one more antminer S1
|
|
|
|
|
|
benjamin07
|
|
March 20, 2014, 10:59:19 PM |
|
Note to self in future: Never pre-order from BFL again (again)
|
|
|
|
|
Dr.Zaius
Newbie
Offline
Activity: 28
Merit: 0
|
|
March 20, 2014, 11:13:59 PM |
|
Because it is easier to sell the mining machine for a fixed price, then mining bitcoins and dealing with the huge hassle of selling them on exchanges for god knows what price. You also aren't sure if the exchange will ever even pay you out. Most of these bucket shop's use pre-orders to finance their builds.
It is simply easier to run a business with actual invoices paid in dollars, then having to explain your bank account flooded with unknown wire transfers from shady locations. Simply stated, you will become a millionaire faster selling "mining equipment".
|
|
|
|
|
|
activebiz
|
|
March 21, 2014, 02:47:40 PM |
|
Well miners are finding it difficult making a profit with increasing difficulty and faulty hardware. So the hardware makers are probably making more.
|
|
|
|
|
kthejung (OP)
|
|
March 21, 2014, 10:50:55 PM |
|
Note to self in future: Never pre-order from BFL again (again)
Lol, BFL is still selling their lovely 10 g/h Jalapeno for ONLY $349. 2 Jalapenos $700 for 20 g/h or 1 Antminer S1 + psu $750 for 180 g/h, decisions....decisions... |
|
|
|
|
|
Ekaros
|
|
March 22, 2014, 01:43:17 AM |
|
Note to self in future: Never pre-order from BFL again (again)
Lol, BFL is still selling their lovely 10 g/h Jalapeno for ONLY $349. 2 Jalapenos $700 for 20 g/h or 1 Antminer S1 + psu $750 for 180 g/h, decisions....decisions... Umm, 2 Jalapenos bought at once cost more than two bought individually?  |
|
|
|
|
herebittybittybitty
|
|
March 23, 2014, 01:53:18 AM |
|
A Jalapeno in hand worth two Monarchs in the bush
|
|
|
|
|
|
jeppe
|
|
March 23, 2014, 03:10:47 PM |
|
Most of the companies sell there miners at the same cost that they will ever mine. This is the safest play for the companies instead of mining with them and guessing that the diff will not go up too fast and having to "wait" for there money.
|
|
|
|
|
Elerntta
Member
Offline
Activity: 490
Merit: 10
|
|
March 23, 2014, 03:13:21 PM |
|
Most of the companies sell there miners at the same cost that they will ever mine. This is the safest play for the companies instead of mining with them and guessing that the diff will not go up too fast and having to "wait" for there money.
So you reccomend to mine by yourself? |
|
|
|
Lamber
Member
Offline
Activity: 75
Merit: 10
|
|
March 23, 2014, 07:59:12 PM |
|
if the electricity worth more than profit It can take, than just sell it.
|
|
|
|
|
|
Stinky_Pete
|
|
March 23, 2014, 08:07:15 PM |
|
Because designing and a building a new machine is fun, but it all needs to be paid for.
|
|
|
|
|
kthejung (OP)
|
|
March 24, 2014, 01:37:45 PM |
|
Note to self in future: Never pre-order from BFL again (again)
Lol, BFL is still selling their lovely 10 g/h Jalapeno for ONLY $349. 2 Jalapenos $700 for 20 g/h or 1 Antminer S1 + psu $750 for 180 g/h, decisions....decisions... Umm, 2 Jalapenos bought at once cost more than two bought individually? With their logic, possibly. |
|
|
|
|
GQ6815
Newbie
Offline
Activity: 1
Merit: 0
|
|
March 27, 2014, 01:23:16 PM |
|
Why do mining companies sell their miners? In other words, why would anyone honestly sell a money making machine?
I am interested in hearing a reasoning that I have not yet come across before.
Do not post if you are going to say that:
mining companies mine with the machines and sell old hardware for profit. (people exceed ROI on certain machines)
mining companies need pre-orders as start-up money for their company.
companies do not have space to run their miners.
just because...
they believe in the idea of having decentralized servers.
These are all good explanations but I want to hear from another angle.
Oh,ihave to say there are several reasons First the company need cash flow,if they keep the machine ,it will take about 2month to recover the cash,but if they sell it ,it only need about 2 weeks .This will let them make more money. Second, when they sell machine which can make money for buyer,they also atract a lot of people to know btc ,to use btc.I think it is good. |
|
|
|
|
|
samsonn25
|
|
April 01, 2014, 03:38:42 PM |
|
Cash up front NOW guaranteed, as opposed to possible undetermined cash potential in the future, that costs you money, before it makes you money.
That... and this...
Charge them 100% more than it costs to make...
1 for me *
1 for bob
1 for me *
1 for sue
1 for me *
1 for joe
1 for me *
1 for dave
1 for me *
1 for jess
Total:
5 for me (50% of the market)
5 for others (50% of the market, or 10% each x5)
End of the day, I spent $0 for my 50%, and you spent 200% for your 10%... I win. Not to mention, I can cash-out 100% faster than any one of the 5x miners can... at a lower price. Take your money both ways... Have a nice day!
Also...
Make 1000, keep the best 500 for yourself, sell the 500 slower ones... (Future market security)
P.S. China, selling you USD prices for the same miners are making 3 for them, 1 for you. You are paying 4x more then it costs them to make them.
Not only that but they will mine with the machines for a week or a month or more before they sell (re-sell) them to you (the retail buyer). LOL |
|
|
|
|
|
samsonn25
|
|
April 01, 2014, 03:41:26 PM |
|
Capital... You get pre-orders you can pay the stuff to make miners. Which you sold...
You don't have money, you can't make stuff to sell...
And we are quite far beyond the point when mining was a good profitable way for manufactures. Now it's finding a fool who buys the stuff they are currently making...
HAHA |
|
|
|
|
|
