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Author Topic: Are ASIC's worth the investment?  (Read 2227 times)
skeeterskeeter
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February 14, 2013, 06:34:36 PM
 #41

I think the real question is when is someone going to find a polynomial time algorithm for hashing? I know I'm pretty close, I got out a piece of paper and pencil and started writing "down with exponentiation! down with ASIC's!"
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MajorMiner1
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February 14, 2013, 07:05:24 PM
 #42

My friend pre-ordered a 1.5ths rig from bfl in june 2012 for 4300 btc at 7$.... lol

his 4300btc today is now worth 113950$... He's got alot of mining to do, to make that back...
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February 14, 2013, 07:41:12 PM
 #43

Exactly.

Every purchase is a tradeoff of lost opportunities. (Known as "opportunity cost")

Buying an ASIC might seem simple, but currently there aren't that many ASICs available. This complicates things.

Even speculating on the exchange rate of BTC to fiat currency is "not simple." Everything has a tradeoff.
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February 14, 2013, 10:36:59 PM
 #44

I have done quite a bit of research on these ASIC's that Butterfly Labs is going to release here soon and my number one question is "Is it worth it?" Right now I am thinking yes. I believe that during the beginning phases of releasing these units will 1.) be beneficial to people who preorder and 2.) make the difficulty of mining sky rocket for those who do not own ASIC's. I am curious on what everyone else thoughts are on this.

As long as they come out they seem very much worth it at least for a while

Eyes open, No Fear. Be Safe! Trinity: Currency Without Bias
deathcode
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February 14, 2013, 11:31:50 PM
 #45

I'll give you an example that I hope gives you some ideas of your own.
I own two miners, however, for the sake of this example and because the first miner was more successful than the second one (in terms of ROI), I'll use just one.
I assembled a PC with two 7970's and one 5750 so I'm getting about 1500Mhash/s with it and my investment was about 1100 (CPU/Mother/2xGPUs/PSU/case/etc) I had the 5750 already.
I was able to break even around December with that single miner and now I'm making some money at the current prices.
Mind you that I started mining when the price was about U$S10.. and I was able to mine about 70BTC as of today...
so.. what if I used those $1100 to just buy BTC at $10 back in August?
Then I'd have about 110 BTC and close to U$S3000...
Ok, let's keep in mind that I can sell my hardware and maybe get about $600,$700 for it.. so we are talking U$S2,500... still not good enough compared to buying the BTC...
Also, I'm not even counting the powerbill, which in my case is not that big at 0.06kw/h is cheap.. but my cost of BTC is about 1/3 of a BTC in power...maybe 1/4
So, in conclusion. Like others have said... Are ASICs worth it? If you get one NOW? Yes! they are... you can make $200 per day, easily with an avalon, and get your money back in a week... how about when ASICs are GA? then no... you'd be better off buying BTC and hoping they go up, which they will.
BTC has only one way to go and is up up up... Whoever says BTC can go down it's wishful thinking just to buy more. The more adoption, the higher they'll go, and BTC are starting to get known by people...
I wouldn't be surprise if BTC hit $80 by the end of the year, but that's another discussion.


 

dpanter
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February 15, 2013, 12:13:20 AM
 #46

I say No.
Skrivitor
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February 20, 2013, 03:25:36 PM
 #47

I say yes and no.  Which is a terrible answer.

Yes ASIC is worth it if you are interested in promoting Bitcoin and working in the Bitcoin ecosystem.

No, ASIC is not worth the investment if you plan to make a living from it.

Viva Bitcoin.
veteranBtc
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February 20, 2013, 06:30:55 PM
 #48

My friend pre-ordered a 1.5ths rig from bfl in june 2012 for 4300 btc at 7$.... lol

his 4300btc today is now worth 113950$... He's got alot of mining to do, to make that back...
That's crazy!

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February 20, 2013, 06:31:43 PM
 #49

No

Yes


Maybe
Aahzman
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February 20, 2013, 06:44:12 PM
 #50

My friend pre-ordered a 1.5ths rig from bfl in june 2012 for 4300 btc at 7$.... lol

his 4300btc today is now worth 113950$... He's got alot of mining to do, to make that back...

yeah, if he cancels his pre-order, he only gets $30k worth of BTC back (or about 1000).


No

Yes


Maybe


+1
Fuzzy
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February 20, 2013, 06:49:20 PM
 #51

My friend pre-ordered a 1.5ths rig from bfl in june 2012 for 4300 btc at 7$.... lol

his 4300btc today is now worth 113950$... He's got alot of mining to do, to make that back...

yeah, if he cancels his pre-order, he only gets $30k worth of BTC back (or about 1000).


If he want's to cancel, he would be better off re-selling his place in line.

If you order a Mini Rig today, you'll be at LEAST 3 months behind anyone who ordered in June. He'll probably make it all back in that time period.
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