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Author Topic: ASICMINER Auction: 50 Block Erupter Blades CHECK OP FOR PAYMENT  (Read 138272 times)
WackyWilly
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April 29, 2013, 05:24:04 PM
 #621

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

Ok, thanks for pointing that out to me. In other words - it is a race to the top for those people that are mining BTC.

Thinking about your remarks, I also realize that this ASICMINER currently on bid, will reduce to about 1/10th  1/12th of 10Gh/s. So it will be sitting at maximum at a comparative rate of 1Gh/s in August. Somewhere else in the thread, I read that a price at 70BTC would mean that it would take about 4 months to recuperate the total investment (with unchanged difficulty). That means approximately in August. (If the final bidding price is lower than 70BTC, the break-even point would be reached a bit earlier, of course)

In other words - it will take several months to break even. By that time the hashing power of the miner is way down. Hm. That makes me ponder... would it really generate enough BTC's by that time? ....  

(Economically speaking, there are also opportunity costs IF.. the BTC would remain upwards trending - the opportunity costs being the not-realized profit should I've kept those 50 BTC in pocket). Hm...

Any thoughts?
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John (John K.)
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April 29, 2013, 05:25:18 PM
 #622

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 ;-)

Reminds me why I run a CPU miner on solo once awhile.  Tongue

Okay guys, please discuss this later when the auction ends.  Cry I'm trying to run an auction here.

My BTC Tip Jar: 1Pgvfy19uwtYe5o9dg3zZsAjgCPt3XZqz9 , GPG ID: B3AAEEB0 ,OTC ID: johnthedong
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April 29, 2013, 05:26:06 PM
 #623

About 1 hour left - get your shiny miners before it's too late! *gets out microphone and boombox  Tongue*
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April 29, 2013, 05:26:44 PM
 #624


Okay guys, please discuss this later when the auction ends.  Cry I'm trying to run an auction here.

Don't worry, I have your back.

Lowest Bid still with Pinwheel, 2@41

Sappers clear the way
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April 29, 2013, 05:27:55 PM
 #625

NameQuantityPrice (฿)RemainingBTC CountUpdated to post 603<- seldom updated
Caesium54545225
kibblesnbits1454445
samyrp2454290
Hiroaki144.54144.5
ok1444044
Fury!1443944
desired_username44435176
Lucky - Luciano143.53443.5
win07143.53343.5
lan7871433243
LainZ1433143
tccd2432986
starsoccer91432843
Hiroaki142.52742.5
psjw4450442.523170
caoxg142.52242.5
BitMagnet142.52142.5
hashman34218126
Omen18551421742
simtel121421642
cchan1421542
puexam1421442
CJPOLO141.51341.5
FlappySocks141.51241.5
Hiroaki141.51141.5
Omen1855141.51041.5
slastar241.5883
Ajay241.5683
drawingthesun141.5541.5
drlatino999241.5383
Aajo141241
Pinwheel241082
Total blades:50Total BTC:2141.5
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

My BTC Tip Jar: 1Pgvfy19uwtYe5o9dg3zZsAjgCPt3XZqz9 , GPG ID: B3AAEEB0 ,OTC ID: johnthedong
Escrow service is available on a case by case basis! (PM Me to verify I'm the escrow!)

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April 29, 2013, 05:28:21 PM
 #626

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 ;-)

Oh certainly this is true, the tragic thing about BFL is that they took so long. However they actually have ASIC and things are going to change so much when they ship. Smiley

Although I still like to point out realities to people new to this wild wild west we call Bitcoin. I prefer as few people to get burned as possible.

BTW desired_username, your not too far back in the queue are you?
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April 29, 2013, 05:28:42 PM
 #627


Okay guys, please discuss this later when the auction ends.  Cry I'm trying to run an auction here.

Don't worry, I have your back.

Lowest Bid still with Pinwheel, 2@41
Confirmed, thanks again!

My BTC Tip Jar: 1Pgvfy19uwtYe5o9dg3zZsAjgCPt3XZqz9 , GPG ID: B3AAEEB0 ,OTC ID: johnthedong
Escrow service is available on a case by case basis! (PM Me to verify I'm the escrow!)

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April 29, 2013, 05:29:18 PM
 #628

Okay guys, please discuss this later when the auction ends.  Cry I'm trying to run an auction here.

Sorry!
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April 29, 2013, 05:29:42 PM
 #629

1@42
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April 29, 2013, 05:30:45 PM
 #630

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
puexam   1   42
drawingthesun   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
drlatino999   2   41.5
Aajo   1   41
Pinwheel   2   41

My BTC Tip Jar: 1Pgvfy19uwtYe5o9dg3zZsAjgCPt3XZqz9 , GPG ID: B3AAEEB0 ,OTC ID: johnthedong
Escrow service is available on a case by case basis! (PM Me to verify I'm the escrow!)

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April 29, 2013, 05:31:52 PM
 #631

1 @ 42.5
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April 29, 2013, 05:32:04 PM
 #632

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

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

https://www.youtube.com/watch?v=-ixRvDkNzYc

Tom Waits: We should just start as soon as possible cause we might catch a rabbit before we have our pants on. (Juxtapoz)
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April 29, 2013, 05:32:26 PM
 #633

We're probably going to see this cross 50 BTC. Bid harder guys.

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April 29, 2013, 05:33:30 PM
 #634

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
FlappySocks   1   42.5
hashman   3   42
Omen1855   1   42
simtel12   1   42
cchan   1   42
puexam   1   42
drawingthesun   1   42
CJPOLO   1   41.5
Hiroaki   1   41.5
Omen1855   1   41.5
slastar   2   41.5
Ajay   2   41.5
drlatino999   2   41.5
Aajo   1   41
Pinwheel   2   41

My BTC Tip Jar: 1Pgvfy19uwtYe5o9dg3zZsAjgCPt3XZqz9 , GPG ID: B3AAEEB0 ,OTC ID: johnthedong
Escrow service is available on a case by case basis! (PM Me to verify I'm the escrow!)

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April 29, 2013, 05:33:58 PM
 #635

1@45
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April 29, 2013, 05:34:54 PM
 #636

John,

is the excel updated more often than the forum? or the same?
thanks

www.easyha.sh - coming soon
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April 29, 2013, 05:35:23 PM
 #637

John,

is the excel updated more often than the forum? or the same?
thanks
The excel is more updated.

My BTC Tip Jar: 1Pgvfy19uwtYe5o9dg3zZsAjgCPt3XZqz9 , GPG ID: B3AAEEB0 ,OTC ID: johnthedong
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April 29, 2013, 05:35:32 PM
 #638

Name   Quantity   Price (฿)
Caesium   5   45
kibblesnbits   1   45
samyrp   2   45
swaits   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
starsoccer9   1   43
Hiroaki   1   42.5
psjw4450   4   42.5
caoxg   1   42.5
BitMagnet   1   42.5
FlappySocks   1   42.5
hashman   3   42
Omen1855   1   42
simtel12   1   42
cchan   1   42
puexam   1   42
drawingthesun   1   42
CJPOLO   1   41.5
Hiroaki   1   41.5
Omen1855   1   41.5
slastar   2   41.5
Ajay   2   41.5
drlatino999   2   41.5
Aajo   1   41
Pinwheel   1   41

My BTC Tip Jar: 1Pgvfy19uwtYe5o9dg3zZsAjgCPt3XZqz9 , GPG ID: B3AAEEB0 ,OTC ID: johnthedong
Escrow service is available on a case by case basis! (PM Me to verify I'm the escrow!)

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April 29, 2013, 05:35:51 PM
 #639

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!  Tongue

I've got plenty of other expenses.  Wink

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April 29, 2013, 05:36:29 PM
 #640

NameQuantityPrice (฿)RemainingBTC CountUpdated to post 638<- seldom updated
Caesium54545225
kibblesnbits1454445
samyrp2454290
swaits1454145
Hiroaki144.54044.5
ok1443944
Fury!1443844
desired_username44434176
Lucky - Luciano143.53343.5
win07143.53243.5
lan7871433143
LainZ1433043
tccd2432886
starsoccer91432743
Hiroaki142.52642.5
psjw4450442.522170
caoxg142.52142.5
BitMagnet142.52042.5
FlappySocks142.51942.5
hashman34216126
Omen18551421542
simtel121421442
cchan1421342
puexam1421242
drawingthesun1421142
CJPOLO141.51041.5
Hiroaki141.5941.5
Omen1855141.5841.5
slastar241.5683
Ajay241.5483
drlatino999241.5283
Aajo141141
Pinwheel141041
Total blades:50Total BTC:2147
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

My BTC Tip Jar: 1Pgvfy19uwtYe5o9dg3zZsAjgCPt3XZqz9 , GPG ID: B3AAEEB0 ,OTC ID: johnthedong
Escrow service is available on a case by case basis! (PM Me to verify I'm the escrow!)

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