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Author Topic: ASIC Miners have screwed me over.  (Read 4726 times)
BitcoinOxygen
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October 20, 2012, 01:15:32 AM
 #21

if ASIC is a SCAM what will everyone do?

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BitcoinOxygen
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October 20, 2012, 01:16:09 AM
 #22

and ASIC's are too GOOD to be TRUE.

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kgonepostl
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October 20, 2012, 04:48:38 AM
 #23

Wait, how are asics not going to work again? I work off of facts. Sorry. I ordered a single from butterfly labs and I expect to make a lot!! 40 GH/S baby!
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October 20, 2012, 06:14:54 AM
 #24

I ordered the bASIC. Bitcoin aint just for the few bucks I get but also for the fun of it.

Looking forward to the ASIC way of mining.

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nobbynobbynoob
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October 20, 2012, 11:03:03 AM
 #25

I ordered the bASIC. Bitcoin aint just for the few bucks I get but also for the fun of it.

And we're doing a service to the community at some risk to ourselves in these ventures. That's what justifies the possible profit. It's not "free moniez". Smiley

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Zeeks
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October 20, 2012, 12:25:07 PM
 #26

Some of the numbers people keep saying about how much you can mine with an ASIC setup seem to vary wildly so I'm not really sure what to think about it. I'm going to wait for them to drop then consider if I really want to get into mining. I have access to a lot of unused server racks at my job so I'll just let everyone else figure out how it all works out then jump in later. Smiley

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October 20, 2012, 12:32:35 PM
 #27

Some of the numbers people keep saying about how much you can mine with an ASIC setup seem to vary wildly so I'm not really sure what to think about it. I'm going to wait for them to drop then consider if I really want to get into mining. I have access to a lot of unused server racks at my job so I'll just let everyone else figure out how it all works out then jump in later. Smiley

Too sensible. Smiley I'm a gambler so I love to jump in and take a calculated risk when I see one. Losing is always a possibility but this seems less risky than the casino TBH.

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October 20, 2012, 04:05:15 PM
 #28

Awesome

politically correct

I hire people to follow people using that phrase and hit them upon the back of their heads. Anyone interested in that job, please send 10 BTC to the adress below to receive your first target and equipment.

In promulgating your esoteric cogitations and articulating your superficial sentimentalities, amicable, philosophical and psychological observations, beware of platitudinous ponderosities.
osmosisjoe
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October 20, 2012, 04:58:06 PM
 #29

I'm just impressed that conservatives now how to use a computer. Let alone bitcoin.... Do trailer parks give out free wifi now?
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October 20, 2012, 05:06:43 PM
 #30

Meh, hang out a while here and you'll learn pretty quick that most so-called libertarians or anarchists on this site are in fact nothing but conservatives, that were just born on the wrong side of the money spout. They're not so much about getting rid of control of the masses, but instead much more about being the ones doing the controlling in this new coin order.
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October 20, 2012, 06:59:39 PM
 #31

Not me. I don't want to control anyone else, that would break the non-aggression principle.

Of course, deep down inside, every one of us has our inner fascist: if we could do it without consequence, of course we would all love to mould the world in our countenance?

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KfrogCT
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October 22, 2012, 03:23:55 PM
 #32

Competition in mining, like in any industry, will mean that the average person is unable to make a profit. Only those who invest the most time, are the most efficient, and stay ahead of the curve will make money long term with Bitcoin mining, and this should be expected.

+1

Bitcoin mining isn't a get-rich-quick scheme, nor is Bitcoin itself for that matter. But if it was, it'd probably seem too good to be true and thus not be true. Grin

+1

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Richy_T
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October 22, 2012, 06:23:12 PM
 #33

Not me. I don't want to control anyone else, that would break the non-aggression principle.

Of course, deep down inside, every one of us has our inner fascist: if we could do it without consequence, of course we would all love to mould the world in our countenance?

+1. What bought me to libertarianism is the internalization of the idea that I should treat others as I would hope to be treated myself. Of course, I know that I'm special and that everything I know is right (at least until I change my mind) and if I was grand leader of the world, things would be peachy for everyone forever but I wouldn't (and don't) feel that way about others who would aspire to that position so the fairest thing is if we all leave each other alone as much as possible to achieve success and happiness in our own ways.

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DrButtFace
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October 22, 2012, 08:38:15 PM
 #34

Unfortunately there is no way to stop the progress.  The same thing happened when GPUs made CPU mining obsolete.

Just curious, do you remember what happened to the price around this time?
BFL_Lab_Rat
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October 22, 2012, 08:50:28 PM
 #35

Just take a look at forums.butterflylabs.com - its full of trolls, asshamsters and deluded people.

I am in no way affiliated with Butterfly Labs. The BFL in my nick stands for Bass Fishing League.
SLok
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October 22, 2012, 11:30:05 PM
 #36

Just take a look at forums.butterflylabs.com - its full of trolls, asshamsters and deluded people.
Well well, if it isn't Frizz23 with his personality disorder. AKA troll BFl_Mitt, now BFL_Obama on the ButterFly Labs forum, and now here as BFL_Lab_rat, and Frizz32 of course. Have you cancelled that BFL order yet? Oh wait, you just made that order up, didn't you? So, who is the diluted asshamster troll now, Frusty32?

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hardcore-fs
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October 23, 2012, 04:27:49 AM
 #37

Just take a look at forums.butterflylabs.com - its full of trolls, asshamsters and deluded people.

What the hell is an 'asshamster', is that what Americans call a Tampax?

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MooC Tals
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October 23, 2012, 05:46:00 AM
 #38

Interesting!!! I bought one of the BFL single SC and a jala.

Am I part of the problem or part of the solution?
Aahzman
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October 23, 2012, 03:16:52 PM
 #39

Just take a look at forums.butterflylabs.com - its full of trolls, asshamsters and deluded people.

What the hell is an 'asshamster', is that what Americans call a Tampax?


Something that Richard Gere (according to myth and legend) likes having jammed up his ass.
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October 24, 2012, 10:34:05 AM
 #40

Conservatively? 12 months.

Same all models, since they have -about- the same $-per-Ghash rate, approximately.

Delivery ETA is mid-to-end of November for Round 1, and guessing Mid-to-end of December for Round 2.

Conservative indeed: I think early ASIC adopters have a good chance at a much shorter RoI than that. If you're more interested in holding than selling mined coin (which I am), then this period is of less significance, of course.

Thing is, who knows what a BTC will be worth in fiat terms six, twelve or howevermany months down the line? That might be even tougher to estimate than the difficulty level.
Assuming ASICs are real, yeah, ROI will be pretty short for those receiving batch #1. Mining coins at insane speeds before a change in difficulty occurs, mad profitable. Estimating value vs fiat is tricky. Most people want to be optimistic and make the assumption that with steep rise in difficulty, and the block reward being halved, BTC value will also go up. Realistically, all I can see happening is market flooding with freshly minted coin as ASICs will be pooping them out as if they had Taco Bell the evening prior. I'm not sure how the block reward being halved will affect the market. For miners there will be a drastic activity change in how one determines to shut off hardware or not. Sadly the major players in the market aren't miners, they're just buyers/sellers/traders and for all intensive purposes may not even be aware of the upcoming change to the block reward. If I had to guess, I'd say with regret, that BTC value will likely go down instead of up as a result of ASICs hitting the market.
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