ASICMINER Auction: 50 Block Erupter Blades CHECK OP FOR PAYMENT

[caoxg]

Hi all, I'm new to mining, want to get started. What I am confused about is this: why would I bid (up to BTC 50 or maybe even above) for this ASICMINER product (at 10Gh/s) whereas the butterfly at 5Gh/s goes for USD 274,- in their webshop?

Yes - I am already aware that BFL has LARGE back orders. But is that the ONLY reason why these ASICMINER blades are way more expensive?
Or is there something else I am missing (technically speaking, as said - I'm a newbie)?

Any help appreciated!
Thanks!

Because it ships immediately

[BitMagnet]

1@42.5

[John (John K.)]

Name   Quantity   Price (฿)
Caesium   5   45
kibblesnbits   1   45
Hiroaki   1   44.5
ok   1   44
Fury!   1   44
desired_username   4   44
Lucky - Luciano   1   43.5
win07   1   43.5
lan787   1   43
LainZ   1   43
tccd   2   43
Hiroaki   1   42.5
psjw4450   4   42.5
caoxg   1   42.5
BitMagnet   1   42.5
hashman   3   42
Omen1855   1   42
simtel12   1   42
starsoccer9   1   42
CJPOLO   1   41.5
FlappySocks   1   41.5
Hiroaki   1   41.5
Omen1855   1   41.5
slastar   2   41.5
cchan   1   41.5
Ajay   2   41.5
drawingthesun   1   41.5
drlatino999   2   41.5
Aajo   1   41
Pinwheel   5   41


Googledoc (thanks Vjain!) :
https://docs.google.com/spreadsheet/ccc?key=0AiYcEqkgyjc_dEM5Z19DdUxzV3VBVjlvcVBQTFNOYmc#gid=0

Estimated Countdown (courtesy of JaredR26)

Timer removed. End time: 2013-04-29+13:25:32

Meh, this is faster.

[John (John K.)]

Name	Quantity	Price (฿)	Remaining	BTC Count	Updated to post 603	<- seldom updated
Caesium	5	45	45	225
kibblesnbits	1	45	44	45
Hiroaki	1	44.5	43	44.5
ok	1	44	42	44
Fury!	1	44	41	44
desired_username	4	44	37	176
Lucky - Luciano	1	43.5	36	43.5
win07	1	43.5	35	43.5
lan787	1	43	34	43
LainZ	1	43	33	43
tccd	2	43	31	86
Hiroaki	1	42.5	30	42.5
psjw4450	4	42.5	26	170
caoxg	1	42.5	25	42.5
BitMagnet	1	42.5	24	42.5
hashman	3	42	21	126
Omen1855	1	42	20	42
simtel12	1	42	19	42
starsoccer9	1	42	18	42
CJPOLO	1	41.5	17	41.5
FlappySocks	1	41.5	16	41.5
Hiroaki	1	41.5	15	41.5
Omen1855	1	41.5	14	41.5
slastar	2	41.5	12	83
cchan	1	41.5	11	41.5
Ajay	2	41.5	9	83
drawingthesun	1	41.5	8	41.5
drlatino999	2	41.5	6	83
Aajo	1	41	5	41
Pinwheel	5	41	0	205
Total blades:	50		Total BTC:	2131
Auction thread (Bid here!)

Googledoc (thanks Vjain!) :
https://docs.google.com/spreadsheet/ccc?key=0AiYcEqkgyjc_dEM5Z19DdUxzV3VBVjlvcVBQTFNOYmc#gid=0

Estimated Countdown (courtesy of JaredR26)

Timer removed. End time: 2013-04-29+13:25:32

[furuknap]

Hi all, I'm new to mining, want to get started. What I am confused about is this: why would I bid (up to BTC 50 or maybe even above) for this ASICMINER product (at 10Gh/s) whereas the butterfly at 5Gh/s goes for USD 274,- in their webshop?

Yes - I am already aware that BFL has LARGE back orders. But is that the ONLY reason why these ASICMINER blades are way more expensive?
Or is there something else I am missing (technically speaking, as said - I'm a newbie)?

Any help appreciated!
Thanks!

It is simply because ASICs are shipping en masse these days, and daylight is burning fast on making money back. 5 GH/s today is not 5GH/s in a few months when BFL or others get your order out the door.

I did some very basic calculations a couple of weeks back, based on rought estimates, and came to a number that said that by August, your hashrate is worth between 1/10 and 1/12 of what it is today. In other words, what you are effectively buying from BFL is 480-500 MH/s, not 5 GH/s. This is because the hashrate is expected to rise dramatically over the next months.

500 MH/s is roughly the equivalent of a good GPU today, which also goes for around $250-$300.

Hope this clarifies :-)

.b

[lan787]

Nice to see that there are going to be many owners of these vs just one. Seems like we are going to have people hashing all over the place which means BTC network is going go be even more spread out. Muahahhaaha!

Be an owner!  

Hi all, I'm new to mining, want to get started. What I am confused about is this: why would I bid (up to BTC 50 or maybe even above) for this ASICMINER product (at 10Gh/s) whereas the butterfly at 5Gh/s goes for USD 274,- in their webshop?

Yes - I am already aware that BFL has LARGE back orders. But is that the ONLY reason why these ASICMINER blades are way more expensive?
Or is there something else I am missing (technically speaking, as said - I'm a newbie)?

Any help appreciated!
Thanks!

Your 5GH/s Butterfly will be mining at so low returns when you eventually get them that you're not going to make back your ROI.  

Well if you pay in $$$ and BTC will not fall the, ROI is inevitable. But still it may be better to just buy BTC

[John (John K.)]

Nice to see that there are going to be many owners of these vs just one. Seems like we are going to have people hashing all over the place which means BTC network is going go be even more spread out. Muahahhaaha!

Be an owner!  

Hi all, I'm new to mining, want to get started. What I am confused about is this: why would I bid (up to BTC 50 or maybe even above) for this ASICMINER product (at 10Gh/s) whereas the butterfly at 5Gh/s goes for USD 274,- in their webshop?

Yes - I am already aware that BFL has LARGE back orders. But is that the ONLY reason why these ASICMINER blades are way more expensive?
Or is there something else I am missing (technically speaking, as said - I'm a newbie)?

Any help appreciated!
Thanks!

Your 5GH/s Butterfly will be mining at so low returns when you eventually get them that you're not going to make back your ROI.  

Well if you pay in $$$ and BTC will not fall the, ROI is inevitable. But still it may be better to just buy BTC

Yep, good point.

[cchan]

1@42

[John (John K.)]

Name   Quantity   Price (฿)
Caesium   5   45
kibblesnbits   1   45
Hiroaki   1   44.5
ok   1   44
Fury!   1   44
desired_username   4   44
Lucky - Luciano   1   43.5
win07   1   43.5
lan787   1   43
LainZ   1   43
tccd   2   43
Hiroaki   1   42.5
psjw4450   4   42.5
caoxg   1   42.5
BitMagnet   1   42.5
hashman   3   42
Omen1855   1   42
simtel12   1   42
starsoccer9   1   42
cchan   1   42
CJPOLO   1   41.5
FlappySocks   1   41.5
Hiroaki   1   41.5
Omen1855   1   41.5
slastar   2   41.5
Ajay   2   41.5
drawingthesun   1   41.5
drlatino999   2   41.5
Aajo   1   41
Pinwheel   5   41

[furuknap]

Well if you pay in $$$ and BTC will not fall the, ROI is inevitable. But still it may be better to just buy BTC

Actually, it's not quite right. If BTC falls, regardless of what currency you use to pay, you make back your investment faster than if BTC rises. In short, buying mining equipment makes more sense if the price goes down than if it rises.

I've explained this in great depth in my upcoming book, and these exact scenarios are part of the free preview available on http://coin.furuknap.net/bitcoin-and-litecoin-mining-book/

.b

[John (John K.)]

Name	Quantity	Price (฿)	Remaining	BTC Count	Updated to post 603	<- seldom updated
Caesium	5	45	45	225
kibblesnbits	1	45	44	45
Hiroaki	1	44.5	43	44.5
ok	1	44	42	44
Fury!	1	44	41	44
desired_username	4	44	37	176
Lucky - Luciano	1	43.5	36	43.5
win07	1	43.5	35	43.5
lan787	1	43	34	43
LainZ	1	43	33	43
tccd	2	43	31	86
Hiroaki	1	42.5	30	42.5
psjw4450	4	42.5	26	170
caoxg	1	42.5	25	42.5
BitMagnet	1	42.5	24	42.5
hashman	3	42	21	126
Omen1855	1	42	20	42
simtel12	1	42	19	42
starsoccer9	1	42	18	42
cchan	1	42	17	42
CJPOLO	1	41.5	16	41.5
FlappySocks	1	41.5	15	41.5
Hiroaki	1	41.5	14	41.5
Omen1855	1	41.5	13	41.5
slastar	2	41.5	11	83
Ajay	2	41.5	9	83
drawingthesun	1	41.5	8	41.5
drlatino999	2	41.5	6	83
Aajo	1	41	5	41
Pinwheel	5	41	0	205
Total blades:	50		Total BTC:	2131.5
Auction thread (Bid here!)

Googledoc (thanks Vjain!) :
https://docs.google.com/spreadsheet/ccc?key=0AiYcEqkgyjc_dEM5Z19DdUxzV3VBVjlvcVBQTFNOYmc#gid=0

Estimated Countdown (courtesy of JaredR26)

Timer removed. End time: 2013-04-29+13:25:32

[John (John K.)]

About 1 hour left - get your shiny miners before it's too late! *gets out microphone and boombox  *

[starsoccer9]

I am gonna up my bid

1@43

[samyrp]

2@45

[drawingthesun]

Hi all, I'm new to mining, want to get started. What I am confused about is this: why would I bid (up to BTC 50 or maybe even above) for this ASICMINER product (at 10Gh/s) whereas the butterfly at 5Gh/s goes for USD 274,- in their webshop?

Yes - I am already aware that BFL has LARGE back orders. But is that the ONLY reason why these ASICMINER blades are way more expensive?
Or is there something else I am missing (technically speaking, as said - I'm a newbie)?

Any help appreciated!
Thanks!

The most important thing about Bitcoin mining is time. Say "time" to yourself about a thousand times and you'll have a good idea why people are bidding like mad for a 10GH/s board.

As you may or may not know, as time goes on those GH/s are less and less effective. Things are even worse now because we are on the cusp of thousands of ASIC's being released into the wild. When this happens its will get harder and harder to mine. Remember the network only wants to give the Bitcoin reward every 10 minutes, and as more people add power the network will adjust to make this very hard.

Everything is a risk, if BFL starts to pump out 100 orders a day tomorrow, then everyone here just lost big time. Everyone bidding here wants 10GH/s before BFL ships. They are hoping the board pays for itself and more in 3-4 months otherwise the difficulty will just increase so far they have no chance getting a ROI.

If BFL does not ship thousands of chips over the next 2 months then everyone here may be a winner.

By bidding here we are effectivly shorting BFL over the next several months.

Also, if you just order a 5GH/s from BFL now, you would be better off buying a GPU and mining right now. That queue is killer and people waiting for 5GH/s will get them by December and they will just get a door stop.

[John (John K.)]

Name   Quantity   Price (฿)
Caesium   5   45
kibblesnbits   1   45
samyrp   2   45
Hiroaki   1   44.5
ok   1   44
Fury!   1   44
desired_username   4   44
Lucky - Luciano   1   43.5
win07   1   43.5
lan787   1   43
LainZ   1   43
tccd   2   43
starsoccer9   1   43
Hiroaki   1   42.5
psjw4450   4   42.5
caoxg   1   42.5
BitMagnet   1   42.5
hashman   3   42
Omen1855   1   42
simtel12   1   42
cchan   1   42
CJPOLO   1   41.5
FlappySocks   1   41.5
Hiroaki   1   41.5
Omen1855   1   41.5
slastar   2   41.5
Ajay   2   41.5
drawingthesun   1   41.5
drlatino999   2   41.5
Aajo   1   41
Pinwheel   3   41


Remember - if you win 10 boards you get a free rack shipped!

[kibblesnbits]

I'll be hung on a rack like a deer carcass if I bought 10.

[John (John K.)]

I'll be hung on a rack like a deer carcass if I bought 10.

  You'll get a free rack to accompany you when you're hung.

[DiabloD3]

About 1 hour left - get your shiny miners before it's too late! *gets out microphone and boombox  *

https://www.youtube.com/watch?v=fwI_nG1IbWg

[desired_username]

Hi all, I'm new to mining, want to get started. What I am confused about is this: why would I bid (up to BTC 50 or maybe even above) for this ASICMINER product (at 10Gh/s) whereas the butterfly at 5Gh/s goes for USD 274,- in their webshop?

Yes - I am already aware that BFL has LARGE back orders. But is that the ONLY reason why these ASICMINER blades are way more expensive?
Or is there something else I am missing (technically speaking, as said - I'm a newbie)?

Any help appreciated!
Thanks!

The most important thing about Bitcoin mining is time. Say "time" to yourself about a thousand times and you'll have a good idea why people are bidding like mad for a 10GH/s board.

As you may or may not know, as time goes on those GH/s are less and less effective. Things are even worse now because we are on the cusp of thousands of ASIC's being released into the wild. When this happens its will get harder and harder to mine. Remember the network only wants to give the Bitcoin reward every 10 minutes, and as more people add power the network will adjust to make this very hard.

Everything is a risk, if BFL starts to pump out 100 orders a day tomorrow, then everyone here just lost big time. Everyone bidding here wants 10GH/s before BFL ships. They are hoping the board pays for itself and more in 3-4 months otherwise the difficulty will just increase so far they have no chance getting a ROI.

If BFL does not ship thousands of chips over the next 2 months then everyone here may be a winner.

By bidding here we are effectivly shorting BFL over the next several months.

Also, if you just order a 5GH/s from BFL now, you would be better off buying a GPU and mining right now. That queue is killer and people waiting for 5GH/s will get them by December and they will just get a door stop.

I have some BFL device on order. The thing is, even if they don't break even soon after I get them, I will still run them purely for passion. Life is more than money and at these consumption leves I couldn't care less ;-)