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Author Topic: Purchasing bitcoin ASICs - The Manual  (Read 4364 times)
meowmeowbrowncow
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January 16, 2013, 01:53:35 PM
 #21

I preordered the bASIC because of these reasons, from most important to least:

  • All the good words about cablepair's transparency in the forums
  • ...


I kinda remembered ~cablepair being something of a dick a long time ago before he became mister salt-of-the-earth in running his 'business'.  The benefit of having been around for a while I guess.  Not that it mattered much because I never was even close to buying any ASIC from anyone until I see one working and working well.  Even then, if I buy any 1st generation stuff it'll be because the next gen made it a bargin.




Yep, one of the only good plays right now is waiting for the price drops and re-evaluating.

"Bitcoin has been an amazing ride, but the most fascinating part to me is the seemingly universal tendency of libertarians to immediately become authoritarians the very moment they are given any measure of power to silence the dissent of others."  - The Bible
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Miner99er
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January 16, 2013, 07:26:45 PM
 #22

I shouldn't have.

I should have sold the GPU's I had and replaced them with 7970's and then I'd be making as I was before the reward split. Now it doesn't make sense to do that.

Unless... there are no ASICs.

Then I'm fine, and I'll be buying 7k and 8k cards to replace the aging 5k's I have. Total BTC out, 25.4112 for a $150 preorder, and a chargeback on the mini single upgrade.
I may be the newbie here but how do you figure?

Even underclocking a 7970 to make it more efficient will pay the electricity to run it, but won't make a lot of profit. Unless a new 8k-series card can hash like crazy without using much power it's just a way to move dollars to bitcoins until the block reward halves again. (Well it protects the network I guess.)

Why not just buy the coins at an exchange?

1) I'm a miner.
2) I am currently self employed.

Which means, I only make enough to pay rent, utilities and gas in my car with my hash rate and the current conversion rate. What I do on the side (computer repair) keeps the doors open, and allows me to save a few coins, but the economy and a shift away from PC's toward tables has hurt business.

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sounds
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January 16, 2013, 08:01:28 PM
 #23

Ok, tell me if I got this right –

Your existing mining operations have paid for themselves and are now paying rent, utilities and gas. Also, since your business is computer repair it's likely you have all you need to plug in a few GPUs and generate some coins.

So as long as the difficulty doesn't make it unprofitable to pay the electricity and hopefully if the exchange rate goes up, you'll make some money.

Makes sense to me Smiley
jermwerty
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January 17, 2013, 03:00:43 AM
 #24

Your steps are too complicated.

1. Wait until they have stock
2. Order

This is my plan.  Safe bets make less profit though.
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January 17, 2013, 11:14:16 PM
 #25

Yep, one of the only good plays right now is waiting for the price drops and re-evaluating.
Experienced traders know what does happen when everybody hopes for a price drop to bail out? It happened today. Will continue tomorrow. And day after tomorrow...
Bicknellski
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January 21, 2013, 04:02:41 PM
 #26

Your steps are too complicated.

1. Wait until they have stock
2. Order

Exactly what I will do.

Dogie trust abuse, spam, bullying, conspiracy posts & insults to forum members. Ask the mods or admins to move Dogie's spam or off topic stalking posts to the link above.
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January 22, 2013, 01:35:17 PM
 #27

The thread about BFL failing to honor full bitcoin refunds is locked? https://bitcointalk.org/index.php?topic=137026.0
Any explanation by gmaxwell? Will he apologize if there is a case and I am right?
BR0KK
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January 22, 2013, 04:30:47 PM
 #28

The thread about BFL failing to honor full bitcoin refunds is locked? https://bitcointalk.org/index.php?topic=137026.0
Any explanation by gmaxwell? Will he apologize if there is a case and I am right?

No he won't... You still don't get it?

How's the lawyer thing going?

Bicknellski
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January 27, 2013, 01:49:03 PM
 #29

The thread about BFL failing to honor full bitcoin refunds is locked? https://bitcointalk.org/index.php?topic=137026.0
Any explanation by gmaxwell? Will he apologize if there is a case and I am right?

-1

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January 28, 2013, 09:23:43 PM
 #30

The thread about BFL failing to honor full bitcoin refunds is locked? https://bitcointalk.org/index.php?topic=137026.0
Any explanation by gmaxwell? Will he apologize if there is a case and I am right?


"If you run into an asshole in the morning, you ran into an asshole. If you run into assholes all day long, you are the asshole."  -Raylan Givens
Got GOXXED ?? https://www.youtube.com/watch?v=9KiqRpPiJAU&feature=youtu.be
"An ASIC being late is perfectly normal, predictable, and legal..."Hashfast & BFL slogan Smiley
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