BFL Mini Rig SC

[itmiller]

Would it be really stupid to drop $30K on a BFL ASIC Mini Rig at this point? I'm thinking about it and I need someone to talk me out of it.

Thanks!

[Gabi]

Probably not, ASIC is the future so buying one is a good idea. This of course if they really will deliver them 

[itmiller]

I'm weary about sending 30K to a company who can just sit on it for months with no guarantee I'll see an ASIC mini rig anytime soon. Scares me. Does BFL have a refund policy? What are the chances I never see my money again? 30K is almost all the savings I have.

[kjj]

I'm weary about sending 30K to a company who can just sit on it for months with no guarantee I'll see an ASIC mini rig anytime soon. Scares me. Does BFL have a refund policy? What are the chances I never see my money again? 30K is almost all the savings I have.

For the love of god, do not do it.

[fcmatt]

don't do it. play it safe and wait to see that they actually deliver something.
hedge your waiting with a couple of single SC if you must.

me? i am not buying any asic gear until i know the lay of the land. that probably
means May 2013 or so.

[Gabi]

+1 what kjj said

Risking 30.000$ in something like that is not a good idea. So far no one have seen a ASIC from BFL.

[itmiller]

On paper the ROI seems great even if the network goes to 250TH/s. But I may be missing something since I'm new to all this. I only wish I personally knew someone already doing well with their BitCoin mining operation.

I thought maybe I could do well with my 30K investment in the BitCoin economy but it sounds too good to be true. Sitting on my hands is probably the way to go.

I live near where BFL operates out of. Maybe I should go knock on their door as ask for a tour. Do you think they would let me in?

[kjj]

On paper the ROI seems great even if the network goes to 250TH/s. But I may be missing something since I'm new to all this. I only wish I personally knew someone already doing well with their BitCoin mining operation.

I thought maybe I could do well with my 30K investment in the BitCoin economy but it sounds too good to be true. Sitting on my hands is probably the way to go.

I live near where BFL operates out of. Maybe I should go knock on their door as ask for a tour. Do you think they will they let me in?

Go take the tour, check it out.  Let us know how it goes.

But do NOT spend your life savings on a mining rig.  Drop a couple of grand on a couple of of single SCs if you must dabble.  Absolutely do NOT drop 30 grand on bitcoin unless you can afford to kiss that money goodbye (and you can't).

[itmiller]

Sound advice ... which is what I was looking for.

Thanks

[kjj]

Happy to help.  I think that bitcoin has huge potential, and I suspect that a mini-rig SC might be a good investment.  But the risk is HUGE.  These forums are full of people doing calculations based on difficulty numbers that are WAY too low, exchange rates that are WAY too high, or both.

There are too many factors that are totally unknown here.  Unless someone knows a lot more than what these forums know collectively, bitcoin is a gamble, not an investment.  A fun gamble, an important gamble, a gamble that could change the world.  But still a gamble.  And you never gamble what you can't afford to lose.

[nexus99]

You would be better off investing the money in BFL rather than hoping to make the money by mining.

[droledabin]

itmiller:
I worked as a freelancer for BFL and i can act as escrow for your 30k. If they don't ship the ASICs out, you'll of course get your btc back. I'm involved in the hardware part of the project(electrical and housing design), not the ASIC circuit design but I trust the project and the people behind it. I already have invested too much real money&time to just stop and rip anyone off. Contact me in pm if you're interested. I'll provide you with my ID and other verifications in private.

[Garr255]

30K is almost all the savings I have.

If you do this I, along with a mob of other financially sane people, will hunt you down and slap you.

Seriously though, I definitely support investing and growing your money, but make sure to stay diversified.

[dunrob]

And again. If the asic's will come out (this is ofcours not sure) the hashingalgorithm will propably change and your hardware will become useless. bye bye 30K.

[Mattster28]

Thats an awful big risk to take, don't think I would drop that kind of money on a product thats not even out yet. Heck im on the fence on pre-ordering a $1300 single, can't imagine spending 30k on one.

[VeeMiner]

And again. If the asic's will come out (this is ofcours not sure) the hashingalgorithm will propably change and your hardware will become useless. bye bye 30K.

change of algorithm is a stupid baseless fear. No one in their right mind would change the algorithm...

[Gabi]

And again. If the asic's will come out (this is ofcours not sure) the hashingalgorithm will propably change and your hardware will become useless. bye bye 30K.

No it won't change, stop spreading fud