I made a giant, overpriced mining rig

[bitpop]

He's a pathological liar

[AnonyMint]

He's a pathological liar

He may be testing how gullible the Bitcoiners are:

https://bitcointalk.org/index.php?topic=158111.0

[GoldenAngel]

Rid yourself of that beast!

[fructu]

somebody checked if is it true this http://dustcoin.com/mining ?

really mining ltc is more profitable than mining btc with gpus ?

[bitpop]

I don't like you either

He's a pathological liar

He may be testing how gullible the Bitcoiners are:

https://bitcointalk.org/index.php?topic=158111.0

[malevolent]

Sell it all as soon as possible to recover as much as possible money; you have no idea whatsoever how to build a mining rig that will not be a liability (not to mention that the days of GPU mining are nearing the end). Doesn't matter which coin you will want to mine it's not worth with what you've built.

[mokahless]

So...? Were you trolling us or did you really buy 60K worth of equipment without properly researching Bitcoin? You didn't even know how mining worked? Don't tell me you thought it would be a good idea to mine on all those CPU cores too?

Because spending 60K on hardware instead of Bitcoin means you expected to make back 750BTC with ^{(12 GPUs X 4 systems X 600MH/s (assuming they are all 7970s)=)} 28.8GH/s

[bitpop]

There are people that don't see reality like we do. He believes he bought all this stuff. He's lying. He needs to see his psychiatrist immediately. Or he could be a rich kid that is in a manic episode.

[TCollar]

I had my doubts before it started running But it is doing OK.  Not ASIC level but much better than projected (59GH per rig ) So yes, massive expense.  Butterfly Labs is a much better deal and all those people who have those much, much cheaper rigs than me sure are laughing at me now. (how many people is that?  two maybe?).

I know clusters.  I'm 48 years old and have been doing clusters since 2000.  I know financial data modeling and I know how to make this stuff sing and it has.  Not at ASIC level but much better than I thought it would.  Still, my loss or my profit, but I got my hardware delivered.

I am sure BFL will deliver their product right away, and be just as reputable as bASIC was, then I will be sorry.

[bitpop]

You don't have any hardware. You are out of touch with reality.

[TCollar]

You don't have any hardware. You are out of touch with reality.

As a basketball machine elf I beg to differ.

[bitpop]

What universe are you on?

[ReAzem]

I don't really understand your justification for the price.
Your mining wont nearly pay itself as fast as the ASIC stuff. 60k of ASIC would have gotten you so much more power.

[TCollar]

I don't really understand your justification for the price.
Your mining wont nearly pay itself as fast as the ASIC stuff. 60k of ASIC would have gotten you so much more power.

I stuck with what I know and that is crazy ass hardware.  I know 60k of ASIC would get me more power.  Man, 60K of ASIC would get me 3TH which would then make me buy a very large boat and sail to Richard Branson's island and kick him in the testicles.

But ASICs are not being delivered.  Avalons...yes, kinda.  But there is something in the "too good to be true" in the typical ASIC promises that seem to be filled with slowness at best and felons at worst that made me decide that if I was going to gamble I was going to do it on something I knew I could get my hands on.

How many ASIC rigs are out there right now do you think?

The number suggest it is the Godot of hardware and we can always replace lost money but we can never replace lost time.

[ReAzem]

I don't really understand your justification for the price.
Your mining wont nearly pay itself as fast as the ASIC stuff. 60k of ASIC would have gotten you so much more power.

I stuck with what I know and that is crazy ass hardware.  I know 60k of ASIC would get me more power.  Man, 60K of ASIC would get me 3TH which would then make me buy a very large boat and sail to Richard Branson's island and kick him in the testicles.

But ASICs are not being delivered.  Avalons...yes, kinda.  But there is something in the "too good to be true" in the typical ASIC promises that seem to be filled with slowness at best and felons at worst that made me decide that if I was going to gamble I was going to do it on something I knew I could get my hands on.

How many ASIC rigs are out there right now do you think?

The number suggest it is the Godot of hardware and we can always replace lost money but we can never replace lost time.

I think they will ship.
If BFL ships everything, non-ASIC gear will just be a waste of electricity.

If it's not Avalon or BFL that ends up shipping, someone else will do it. Technology is here and market is here, there has to be people making the gear availible.

[TCollar]

I don't really understand your justification for the price.
Your mining wont nearly pay itself as fast as the ASIC stuff. 60k of ASIC would have gotten you so much more power.

I stuck with what I know and that is crazy ass hardware.  I know 60k of ASIC would get me more power.  Man, 60K of ASIC would get me 3TH which would then make me buy a very large boat and sail to Richard Branson's island and kick him in the testicles.

But ASICs are not being delivered.  Avalons...yes, kinda.  But there is something in the "too good to be true" in the typical ASIC promises that seem to be filled with slowness at best and felons at worst that made me decide that if I was going to gamble I was going to do it on something I knew I could get my hands on.

How many ASIC rigs are out there right now do you think?

The number suggest it is the Godot of hardware and we can always replace lost money but we can never replace lost time.

I think they will ship.
If BFL ships everything, non-ASIC gear will just be a waste of electricity.

If it's not Avalon or BFL that ends up shipping, someone else will do it. Technology is here and market is here, there has to be people making the gear availible.

You are right in that if it ships I will be stuck with rigs that will not be totally worthless, but I will lose money on them.  I had an offer to lease them out for animation work but that won't pay for them.

You are also right about your prediction that someone will ship, but chip makers are a conservative lot and making and shipping chips that have the promise of having productivity halved in the future is something that makes them skittish.  Also combined with the possibility of a bitcoin crash (always possible) that too is likely to keep the chip production down.

So I jumped in while others were waiting.  I might lose a chunk of cash.  I might mine a ton of bitcoins and have the bitcoin crash on me.  ASIC rigs could end up fitting on wrists and generate "free money" for the wearers.  I don't know.  In fact, the economic modeling I do in my cluster really cannot tell me what will happen either since it has only been around since 2009 and really only been a currency for less time than that.  So my economic models say 0.00, which means I built a cluster that says I should never have built a cluster, but I still think it is a better bet than ASIC.

[mokahless]

So you have decided to keep everything? And bitpop has decided to keep trolling because he is bored?

I would like to see how this pans out but purchasing 750BTC with that money now would have been a better investment. My calculations and predictions tell me that I should expect less than 2BTC per week at 60GH/s by the end of this year.

Just to make sure, $60K is something you are willing to lose? Are you in that kind of financial position?

[eudemonics]

if you're in a position to hemmorhage cash like that, you should point the wound here: 1KvB9Nv9xvkNg1LPNkWL6WLHJJQhtopYJu

unlike your hardware, i'll actually appreciate it!

[TCollar]

bitpop has reason to be suspicious.  I just show up and say "here is what I did!" so I got no problem with that.  It makes sense actually, but I gotta tell someone, somewhere.

I lost more on housing in 2008 but not that much.  The trick is that when you lose you try to take that lesson and make sure you lose better each and every time (I think Samuel Beckett said something like that). So yes, it was either this or buy a midlife crisis sports car.  Buying a midlife crisis sports car is an awful choice because middle aged men look ridiculous in them with wrinkly faces and bald spot flowing in the wind.

I've just decided to focus on what I know and if I fail I will just say "I was wrong" because it won't be the first time and I hope it won't be the last either because the only time we stop failing is when we are dead.

[TCollar]

if you're in a position to hemmorhage cash like that, you should point the wound here: 1KvB9Nv9xvkNg1LPNkWL6WLHJJQhtopYJu

unlike your hardware, i'll actually appreciate it!

How do you know my hardware doesn't love me?