Advice on the ASIC BF rigs

[omgitsmehehe]

Hey peoples, I am a long time BTC investor and over the past week have been reading up about mining. To the best of my knowledge the best action to take from here is to buy an ASIC rig.

I have been checking out the ButterflyLabs 60 GH/s Single SC. I really just want to know what difficulty rate should we expect when ASIC rigs are released and will it be worthwhile? (worthwhile definition - Earning more than an basic minimum wage person)

Another thing I would like to know is are these things actually ever going to be released?! Since I've been reading I've found many people complaining saying they were supposed to be out in Mar 13 etc...

[1715124516]

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[Photon939]

Hey peoples, I am a long time BTC investor and over the past week have been reading up about mining. To the best of my knowledge the best action to take from here is to buy an ASIC rig.

I have been checking out the ButterflyLabs 60 GH/s Single SC. I really just want to know what difficulty rate should we expect when ASIC rigs are released and will it be worthwhile? (worthwhile definition - Earning more than an basic minimum wage person)

Another thing I would like to know is are these things actually ever going to be released?! Since I've been reading I've found many people complaining saying they were supposed to be out in Mar 13 etc...

Release in March? Original shipping date was late October 2012...

Difficulty on release depends of course on the release date, which is who knows when so this cannot be calculated.

Never count on mining for income as it quickly diminishes as hashing capacity grows to match the price of electricity.

[omgitsmehehe]

Hey peoples, I am a long time BTC investor and over the past week have been reading up about mining. To the best of my knowledge the best action to take from here is to buy an ASIC rig.

I have been checking out the ButterflyLabs 60 GH/s Single SC. I really just want to know what difficulty rate should we expect when ASIC rigs are released and will it be worthwhile? (worthwhile definition - Earning more than an basic minimum wage person)

Another thing I would like to know is are these things actually ever going to be released?! Since I've been reading I've found many people complaining saying they were supposed to be out in Mar 13 etc...

Release in March? Original shipping date was late October 2012...

Difficulty on release depends of course on the release date, which is who knows when so this cannot be calculated.

Never count on mining for income as it quickly diminishes as hashing capacity grows to match the price of electricity.

May I ask, who/why/what changes the difficulty?

[Photon939]

Difficulty is based on the amount of time it takes to solve the next 2016 blocks (ideal target time of 2 weeks) but since there are many new ASIC systems from Avalon and ASICminer, difficulty is rising sharply.

[cdog]

It depends on how much $1300 means to you, how much being part of the mining community which protects the coins means, etc.

A lot of people who tried to buy BFL ASIC early on will probably NEVER recoup their investment vs if they had just bought or held BTC.

If its just a financial decision, your best bet is again to buy and hold. You could recoup your investment and/or profit by mining, but its unlikely in my opinion to make you more money in the next 18-24 months than buying and holding.

[gogxmagog]

I just pre-ordered a BFL 60 and expect to get it MAYBE sometime early autumn. I also expect difficulty to be waaaaaay up there. Thing I'm betting on is 3-fold... 1) there will be people who give up on mining, which = less competition for solving the blocks, which counters the difficulty factor a little. 2) I'm hoping this BTC bubble (sorry guys, but thats most likely what it is) is a nice long bubble, so I can mine BTC slowly, but also very very profitably as the price continues to soar. Remember...the dot-com bubble went on for years, same with the housing bubble. hopefully we will see BTC reach four digits before it all crashes down, in which case I will have to mine about ONE BTC to make my money back. and 3) I'm in it for the long haul, I feel over time I will re-coup my investment, but mostly I am intrigued to be part of the whole system.
I could be dead wrong and lose my 1200$ but Ive already made a LOT more than that just on the accumulated value of my present BTC holdings so I'm happy to take the risk.
Somebody's got to work those mines, baby... the miners holding a working ASIC will be the only ones to actually be mining at all once these things infiltrate the user-base.

[middlemarkal]

lucky you , the price of BFL asic's just double

[BTCLuke]

You mean you people still think BFL is going to ship something someday? Oh please...