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skeeterskeeter
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February 14, 2013, 06:34:36 PM |
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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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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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MajorMiner1
Newbie
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Activity: 1
Merit: 0
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February 14, 2013, 07:05:24 PM |
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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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sounds
Full Member
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Activity: 140
Merit: 100
1221iZanNi5igK7oAA7AWmYjpsyjsRbLLZ
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February 14, 2013, 07:41:12 PM |
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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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milly6
Legendary
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Activity: 1632
Merit: 1010
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February 14, 2013, 10:36:59 PM |
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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 |
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dpanter
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February 15, 2013, 12:13:20 AM |
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I say No.
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Skrivitor
Newbie
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February 20, 2013, 03:25:36 PM |
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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.
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veteranBtc
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February 20, 2013, 06:30:55 PM |
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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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Fuzzy
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February 20, 2013, 06:31:43 PM |
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No
Yes
Maybe
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Aahzman
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February 20, 2013, 06:44:12 PM |
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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 $30k worth of BTC back (or about 1000).
No
Yes
Maybe
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Fuzzy
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February 20, 2013, 06:49:20 PM |
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My friend pre-ordered a 1.5ths rig from bfl in june 2012 for 4300 btc at 7$.... 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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