Liquid Synergy Designs Inc. -ASIC mining hardware

[cardcomm]

I saw that the difficulty just spiked. Is it possible that Avalon will delay their chips as well, seeing as they delayed Batch #3 and are offering a refund? Won't it be extremely hard now to recoup my initial investment if I were to drop a couple grand on some ASIC chips? Every day it seems to get harder and harder to make money with it. Is it better to just buy Bitcoins and hold instead of dropping them on an ASIC?

I'm beginning to think we all may be lucky to just meet roi.  I would be interested in an estimate difficulty by the time batch 1-2 ship.  Any news from avalon on chip readiness?  Right now we should all be concerned.  I think I'll be reinvesting my earnings into asicminer shares and drop mining completely unless I can continually reinvest affordably to maintain profits.  

I am actually scared to buy ASIC chips because I will need to drop several grand just to make it worthwhile. However, by the time the chips have arrived (if they are not delayed by Avalon), the difficulty will have gone up dramatically based on projections and the increase in network hashrate and I won't make my money back. The difficulty will go up so high that I will start losing money on electricity for running so many ASIC miners 24/7. ASICMiner was doing something 11 days ago and they dropped their hashrate. Now, ASICMiner's hashrate has gone up and is higher than it was before. They are climbing again and will continue to climb. This is actually not bad if you were to buy into ASICMiner shares. They pay quite well actually, better than the stock market. The only way to run with the big dogs now is to ride on their backs.

You're right, the rising difficulty is quite sobering to say the least.  Saw some estimates of the difficulty being 64,950,740 or much higher by early October.   If someone were to order 20 K16's at 90 Gh/s for delivery in late Sept/early Oct, they might even be looking at less than 0.70 btc's per day once they start mining.  Obviously, estimates have been wrong before so it is an unknown.   However, it makes me rethink how much I'm putting into mining equipment at this stage.  

Yeah, there's practically no chance for ROI since literally anything could happen. The difficulty could continue it's fast upward pace, or even accelerate as more hashing power is dumped on the network. The prices of Bitcoins could drop through the floor.

Heck, for all we know a giant electromagnetic pulse could wipe out all the computers in the free world!

It's definitely too risky- if I were you guys, I wouldn't buy any miners at all...   

[1714859333]

1714859333

[1714859333]

1714859333

[503guy]

I saw that the difficulty just spiked. Is it possible that Avalon will delay their chips as well, seeing as they delayed Batch #3 and are offering a refund? Won't it be extremely hard now to recoup my initial investment if I were to drop a couple grand on some ASIC chips? Every day it seems to get harder and harder to make money with it. Is it better to just buy Bitcoins and hold instead of dropping them on an ASIC?

I'm beginning to think we all may be lucky to just meet roi.  I would be interested in an estimate difficulty by the time batch 1-2 ship.  Any news from avalon on chip readiness?  Right now we should all be concerned.  I think I'll be reinvesting my earnings into asicminer shares and drop mining completely unless I can continually reinvest affordably to maintain profits.  

I am actually scared to buy ASIC chips because I will need to drop several grand just to make it worthwhile. However, by the time the chips have arrived (if they are not delayed by Avalon), the difficulty will have gone up dramatically based on projections and the increase in network hashrate and I won't make my money back. The difficulty will go up so high that I will start losing money on electricity for running so many ASIC miners 24/7. ASICMiner was doing something 11 days ago and they dropped their hashrate. Now, ASICMiner's hashrate has gone up and is higher than it was before. They are climbing again and will continue to climb. This is actually not bad if you were to buy into ASICMiner shares. They pay quite well actually, better than the stock market. The only way to run with the big dogs now is to ride on their backs.

You're right, the rising difficulty is quite sobering to say the least.  Saw some estimates of the difficulty being 64,950,740 or much higher by early October.   If someone were to order 20 K16's at 90 Gh/s for delivery in late Sept/early Oct, they might even be looking at less than 0.70 btc's per day once they start mining.  Obviously, estimates have been wrong before so it is an unknown.   However, it makes me rethink how much I'm putting into mining equipment at this stage.  

Yeah, there's practically no chance for ROI since literally anything could happen. The difficulty could continue it's fast upward pace, or even accelerate as more hashing power is dumped on the network. The prices of Bitcoins could drop through the floor.

Heck, for all we know a giant electromagnetic pulse could wipe out all the computers in the free world!

It's definitely too risky- if I were you guys, I wouldn't buy any miners at all...   

So... this is a speculation thread now?  There is a whole section of this forum dedicated to speculation.

[trigeek]

If anyone here was expecting fast ROI... you're in the wrong game.  This group buy ALONE is for 14,000 GH worth of hash rate.  At the quoted 282mh/s, that's close to 10% of the entire bitcoin network right now.  If you are running your calculations now, you should be putting in a number like 100 million for the difficulty at the time you start.  I'm expecting 6 months before I hit ROI (calculated in BTC).  Could be sooner if BTC's value rises during that time.

[cp1]

It's interesting that a Sunday was chosen as a deadline, and July 1 is a holiday in several countries.

It's most likely that the money for assembly is going wherever it's going on Monday morning, so Sunday would make sense.

[Geode]

Has anyone run any scenarios on ROI and the timing of these miners? I think we'll be alright, but the latest difficulty jump got me thinking.

The trouble is that technology is improving and that if more powerful/efficient ASICs come on board soon after, then the network hash rate will skyrocket, as will the difficulty, this makes turning a profit that much harder, especially since the Bitcoin is dropping in value now. By about December 2013, the difficulty will rise to obscene levels and a K16 will have a hard time paying for itself. Back in the gold rush, only 1 in 20,000 miners made money. The ones who really made money were shovel and pick axe salesman, gold pan salesman, brothels, saloons, lumber mills, and general stores.

[Geode]

If anyone here was expecting fast ROI... you're in the wrong game.  This group buy ALONE is for 14,000 GH worth of hash rate.  At the quoted 282mh/s, that's close to 10% of the entire bitcoin network right now.  If you are running your calculations now, you should be putting in a number like 100 million for the difficulty at the time you start.  I'm expecting 6 months before I hit ROI (calculated in BTC).  Could be sooner if BTC's value rises during that time.

This is true. The ROI keeps dropping the later anyone starts mining. The fact that Avalon delayed Batch #3 shipping by two months, originally due for May 05, 2013, is troubling. They may delay the shipment of chips if they are overwhelmed, and they already received lots of purchases from all of the countless group buys going on. I know that there has to be ways to make money with Bitcoins, but it doesn't seem like mining is the best way especially after wave after wave of ASICs will be coming online starting September 2013. I don't think there will be anyway that I can beat ASICMiner, so I might as well join him/them.

[Galli]

Order in! #100000154

[eroxors]

If you are here to FUD, start your own thread?

[TomKeddie]

Ok, so I paid for my batch 1 chip assembly and was waiting for the call up for batch 3 which I guess is not coming.

I've chosen different options for my two batches, not sure where to report this.

100000071 : batch 1
100000155 : batch 3

Thanks,
Tom

[pointychimp]

I'm not sure if it is appropriate to post this here, but I'm willing to sell 48 of my batch 5 chips if anyone wants to cut a little bit in line. According to the OP you can change your shipping address up to two times, so there shouldn't be a problem.

PM me if interested. I'll be asleep for a little bit, but I'll respond ASAP.




Hope this is proof enough:

Signing address: 1N34zHKzVMzuJFDXDEzBTYur44HQaBGvud

Message: I, pointychimp, have 48 chips preordered in steamboat's 5th group buy. The transaction from me (using the signing address) to the batch 5 payment address is here: f7ca1b88029fcf3fa27890c124a54df3c1bd3ee422a20cf5ec2629e93a394aea. I am willing to sell my spot in line for a very tiny mark up.

Signature: IDXO5KgpNEx1MYzCuvlZKbY3aQKljpKKTxtKxGAXu1fkr8ZYa1Ayos2nxXSMvDSyC/fyRH3fWnEHH75CWB4c9J4=

[adamthefishman]

Order 153 for batch 2 and 3 all settled up.

Now for the best part.

W
A
I
T
I
N
G
;-)

Hopefully I can do it patiently.

BTW - any chance the forum developers can fix the dictionary so the the word "bitcoin" is accepted, and not treated like a spelling error.  #bigissues

[cardcomm]

If anyone here was expecting fast ROI... you're in the wrong game.  This group buy ALONE is for 14,000 GH worth of hash rate.  At the quoted 282mh/s, that's close to 10% of the entire bitcoin network right now.  If you are running your calculations now, you should be putting in a number like 100 million for the difficulty at the time you start.  I'm expecting 6 months before I hit ROI (calculated in BTC).  Could be sooner if BTC's value rises during that time.

This is true. The ROI keeps dropping the later anyone starts mining. The fact that Avalon delayed Batch #3 shipping by two months, originally due for May 05, 2013, is troubling. They may delay the shipment of chips if they are overwhelmed, and they already received lots of purchases from all of the countless group buys going on. I know that there has to be ways to make money with Bitcoins, but it doesn't seem like mining is the best way especially after wave after wave of ASICs will be coming online starting September 2013. I don't think there will be anyway that I can beat ASICMiner, so I might as well join him/them.

For the record, I was being sarcastic with my comments earlier about Klondike miners being a risky investment. I mean, obviously it is. I still ordered miners though!

But that's not why I'm in this, honestly. Yes, I'd like to make a lot of money. But I'll be quite happy if I simply get an ROI, even within a year. I'm mining because it interests me, and because I like using Bitcoins for purchases whenever possible.

I don't think an ROI discussion belongs here. That's for each person to figure out for themselves. I knew going in there is a chance I won't get my money back. But I'm having a blast following the progress of the board development, and being part of the community.

If you are doing this ONLY to make money, you might wanna think hard about it. I'm just saying.

[bystander]

But I'm having a blast following the progress of the board development, and being part of the community.
 

Same.  When Yifu mentioned "growing with the community" at the conference, I had yet to realize what he meant.  After witnessing how this collaborative effort has thrived across the miles, I've never seen or experienced anything like it.  Not going to lose too much sleep over the balance sheet stuff, yes it's part of the details, but following the development day-by-day has been more interesting and compelling, by far. 

[adamthefishman]

All that being said, there is nothing wrong with making a profit for providing a valuable service.

By diversifying the mining activities, and expanding the user base, and providing a more secure network, we are all providing a good service. It would be a shame if we do not make a profit.

[BitCsByBit]

To be honest I am a bit concerned that steamboat has not responded to any of the questions and concerns posted by the group buy members since the order website went live.

His account summary shows that he has been active but the only posts he posted here were regarding the initial order site issues.

I know he is very busy, but the combination of the short deadline time and going missing during such an important cycle of this group buy is making me feel uneasy.

As I result I still haven’t paid for the assembly of my chips.   


Cheers

[driksson]

To be honest I am a bit concerned that steamboat has not responded to any of the questions and concerns posted by the group buy members since the order website went live.

His account summary shows that he has been active but the only posts he posted here were regarding the initial order site issues.

I know he is very busy, but the combination of the short deadline time and going missing during such an important cycle of this group buy is making me feel uneasy.

As I result I still haven’t paid for the assembly of my chips.   


Cheers

yes agree. I'm not falling in for stress here. I will buy the assembly that has been verified and tested. bkk has not even gotten all drivers for klondike fully working so might be change of components even though could be tiny.. I'd wait for verified hardware before paying anything. And there are 2-3 that has shown proof of this, i hope steamboat shows us something soon!
I'm in this group buy, didnt pay for assembly and missed the deadline. I dont know if i'll get another chance of assembly, or if i'll have to assemble elsewhere. My money is where i can get a working setup.

[drdops]

Hi folks
(apologies if im out of line posting in this thread)
Been following this thread for awhile and have been considering getting in on the group buy for Batch 6- for 10 fully assembled fully tested miners. Im a bit confused. Can someone clarify if June 30 was the deadline and ive missed it? I got a couple of replies from steamboat via email saying that there was no deadline and that another batch would come online as soon as last one filled. But as yet I dont have clarification if i have missed deadline for fully assembled miners?
Also can anyone share how they plan to stack multiples of these in the most efficient way? Am I right in assuming they will connect to USB hubs?

[driksson]

Hi folks
(apologies if im out of line posting in this thread)
Been following this thread for awhile and have been considering getting in on the group buy for Batch 6- for 10 fully assembled fully tested miners. Im a bit confused. Can someone clarify if June 30 was the deadline and ive missed it? I got a couple of replies from steamboat via email saying that there was no deadline and that another batch would come online as soon as last one filled. But as yet I dont have clarification if i have missed deadline for fully assembled miners?
Also can anyone share how they plan to stack multiples of these in the most efficient way? Am I right in assuming they will connect to USB hubs?

they are two separates. The one on first page is now on 715 chips until order of batch 6 set of chips (it will be ordered and paid for in full immediately upon the 715 chips).
the second one, June 30th , is based on assembly and parts/components order. He said you need to pay and select what assembly you like, for him to be able to prepare the boards up until when the chips arrive (also stated on first page when each chip order is to be delivered).
He has not told us what happends to those who did not pay for any assembly, after the given deadline.
I hope he will do some board testing , show some proof of working boards, and set another assembly deadline for those still awaiting the right assembly partner on bitcoint talk. (there are at least 3).

[maxpower]

Hi folks
(apologies if im out of line posting in this thread)
Been following this thread for awhile and have been considering getting in on the group buy for Batch 6- for 10 fully assembled fully tested miners. Im a bit confused. Can someone clarify if June 30 was the deadline and ive missed it? I got a couple of replies from steamboat via email saying that there was no deadline and that another batch would come online as soon as last one filled. But as yet I dont have clarification if i have missed deadline for fully assembled miners?
Also can anyone share how they plan to stack multiples of these in the most efficient way? Am I right in assuming they will connect to USB hubs?

I asked about the deadline and Batch 6 a little while ago in this thread. Steamboat said:

The deadline applies to batches 1-5.

Glad this is the case, since my funds for the assembly/shipping costs just came through this morning. 

[Lollaskates]

I'm not a fan of the payment portal saying my bitcoins are worth $5USD less than market value. I would rather send the BTC directly like we did with chip ordering. I'm paying $100 more because of this fact and I'm reluctant to do so.