[Announcement] Block Erupter USB

[arklan]

Where is appropriate to open a group buy thread? 

already got it going for US/canada. john k doing escrow.
https://bitcointalk.org/index.php?topic=195052.0

[Syke]

Of course they will be cheap in a year, but each of our USBs will have mined ~ 2.5 - 3 Bitcoins by then.

You wish. Difficulty is going up a lot. You'll be lucky to mine a single btc in the next year.

[yolo2222]

Of course they will be cheap in a year, but each of our USBs will have mined ~ 2.5 - 3 Bitcoins by then.

You wish. Difficulty is going up a lot. You'll be lucky to mine a single btc in the next year.

+1

I agree. The prices are insane.

This will only make profit for wholesellers or ebaysellers. ( and ofcourse the shareholders of ASICMINER)

Still it is an awesome gadget to have!
I think this comes quite handy when introducing people to bitcoin and how the system works.


I WANT ONE!!

[Achiron]

After watching both auctions take place it's clear ASIC Miner are pretty exceptional at not only gaining themselves 15 TH/s of the market early in-house but also getting people to swallow a massively overinflated price for their ASICs. The auctioned Blades were bought far overpriced and are now being used to justify 2 BTC for a 300 MH/s unit, they know pretty well that that's a poor investment price point. 0.5 or <1.0 BTC potentially. I applaud them though they stand to make a lot of money through both methods.

[wrenchmonkey]

Cute.

The correct price is what people will pay.

I'm not buying at this price because I expect the price will drop a lot.

Yes and no. The correct price is the price that maximizes their OVERALL profit (not per-unit) and gives their investors the greatest return.

2BTC is a 'get-rich quick' price that will quickly taper off into irrelevance. I imagine their plan is probably to sell at 2BTC for the first couple of weeks, until they've swept up all the 'tards who can't do math, and think buying NOW will make it profitable. Then drop the price to 1.5BTC to pick up the 'tards who think they can turn a profit at that price. Then drop to 1BTC and pick up the fence sitters who don't mind if they ONLY break even.

Then they'll drop to .5BTC and sell to people who can do math... 

[OtaconEmmerich]

I was pretty fucking happy when I saw this announcement, then I saw the price. 
Eeesh! I was expecting .5-1.25 each, It's not worth it at all at 2BTC outside of it's charm.
I was a hobby miner and now I'm dropping out of BTC mining for now, I was hoping to grab one of these for a nice price and popping it into a router or something..but blek. I'll wait till a price drop I think.

[wrenchmonkey]

Cute.

The correct price is what people will pay.

I'm not buying at this price because I expect the price will drop a lot.

Yes and no. The correct price is the price that maximizes their OVERALL profit (not per-unit) and gives their investors the greatest return.

2BTC is a 'get-rich quick' price that will quickly taper off into irrelevance. I imagine their plan is probably to sell at 2BTC for the first couple of weeks, until they've swept up all the 'tards who can't do math, and think buying NOW will make it profitable. Then drop the price to 1.5BTC to pick up the 'tards who think they can turn a profit at that price. Then drop to 1BTC and pick up the fence sitters who don't mind if they ONLY break even.

Then they'll drop to .5BTC and sell to people who can do math...  

Or maybe we will just mine with the ones we don;t sell for 2 btc...  

Sure, you could. And since they barely cost anything to make them, YOU will actually be able to turn a profit mining with them. I have no idea why the hell you would want to mine with hundreds of USB sticks, but that's your call. Personally, I think there are enough idiots out there that you'll do pretty well selling them at such an asinine price, but if you don't start dropping your price as soon as you clear out all the fucking morons, you risk being the equivalent of a Thumb Drive manufacturer who expects to get $75 for a 256Mb drive, which you can't GIVE away any more.

Then again, people lose all common sense when it comes to BTC, so there may be plenty of idiots who will continue to pay $75 for a 256Mb thumb drive. Or you could start storing all your data on hundreds of tiny USB Thumb Drives, out of stubbornness and spite... Either way, it's gonna be good quality entertainment for the rest of us.  

[turtle83]

Cute.

The correct price is what people will pay.

I'm not buying at this price because I expect the price will drop a lot.

Yes and no. The correct price is the price that maximizes their OVERALL profit (not per-unit) and gives their investors the greatest return.

2BTC is a 'get-rich quick' price that will quickly taper off into irrelevance. I imagine their plan is probably to sell at 2BTC for the first couple of weeks, until they've swept up all the 'tards who can't do math, and think buying NOW will make it profitable. Then drop the price to 1.5BTC to pick up the 'tards who think they can turn a profit at that price. Then drop to 1BTC and pick up the fence sitters who don't mind if they ONLY break even.

Then they'll drop to .5BTC and sell to people who can do math... 

Or maybe we will just mine with the ones we don;t sell for 2 btc... 

Organizing a group buy in Thailand?

[muyuu]

Cute.

The correct price is what people will pay.

I'm not buying at this price because I expect the price will drop a lot.

It also depends on how many they can produce. They claim to be able to churn out thousands quick.

I'd buy 2 at 2BTC, maybe 50 at 1BTC and the 300 batch at 0.5BTC.

So, depending on how much are their production costs, they might be maximising profits at cheaper prices rather than at more expensive prices. Of course, it also depends on the demand from everybody else.

It's not just me. At 2BTC it's hardly profitable if at all, people would get a few just for the novelty and to be able to say they're mining. But at a competitive price they'd sell many thousands in no time.

So, can they really produce tens of thousands per month? if so, then 2BTC is not a good pricing as they will only sell a fraction of that. Just wait and see. Maybe they really cannot produce so many.

[friedcat]

Cute.

The correct price is what people will pay.

I'm not buying at this price because I expect the price will drop a lot.

Yes and no. The correct price is the price that maximizes their OVERALL profit (not per-unit) and gives their investors the greatest return.

2BTC is a 'get-rich quick' price that will quickly taper off into irrelevance. I imagine their plan is probably to sell at 2BTC for the first couple of weeks, until they've swept up all the 'tards who can't do math, and think buying NOW will make it profitable. Then drop the price to 1.5BTC to pick up the 'tards who think they can turn a profit at that price. Then drop to 1BTC and pick up the fence sitters who don't mind if they ONLY break even.

Then they'll drop to .5BTC and sell to people who can do math... 

The price will be fixed for the ~10k sapphire batch, no matter how many we have sold.

[wrenchmonkey]

Cute.

The correct price is what people will pay.

I'm not buying at this price because I expect the price will drop a lot.

It also depends on how many they can produce. They claim to be able to churn out thousands quick.

I'd buy 2 at 2BTC, maybe 50 at 1BTC and the 300 batch at 0.5BTC.

So, depending on how much are their production costs, they might be maximising profits at cheaper prices rather than at more expensive prices. Of course, it also depends on the demand from everybody else.

It's not just me. At 2BTC it's hardly profitable if at all, people would get a few just for the novelty and to be able to say they're mining. But at a competitive price they'd sell many thousands in no time.

So, can they really produce tens of thousands per month? if so, then 2BTC is not a good pricing as they will only sell a fraction of that. Just wait and see. Maybe they really cannot produce so many.

BINGO!

[wrenchmonkey]

Cute.

The correct price is what people will pay.

I'm not buying at this price because I expect the price will drop a lot.

Yes and no. The correct price is the price that maximizes their OVERALL profit (not per-unit) and gives their investors the greatest return.

2BTC is a 'get-rich quick' price that will quickly taper off into irrelevance. I imagine their plan is probably to sell at 2BTC for the first couple of weeks, until they've swept up all the 'tards who can't do math, and think buying NOW will make it profitable. Then drop the price to 1.5BTC to pick up the 'tards who think they can turn a profit at that price. Then drop to 1BTC and pick up the fence sitters who don't mind if they ONLY break even.

Then they'll drop to .5BTC and sell to people who can do math... 

The price will be fixed for the ~10k sapphire batch, no matter how many we have sold.

...good luck with that then. 

[cimpex]

more erupter blades would be nice instead of a huge amount of USB Sticks.

[Socket54]

... if it wasn't priced at more than a Jalapeno with significantly less hashrate.

Except those don't exist. Not until BFL actually ship them. Spare me the discussion of 6 ppl receiving them. That is like a satoshi to a bitcoin of their total orders, Simply doesn't count. And if you considered the new lowest amount to relay a transaction suggestion. Then they Literally don't count.

They do exist, vid proof on youtube. So what justifies spending 2 btc on a 300 mh device when for about the same you can get way more hash power in a BFL jalapeno?

It is a greedy money grab to be blunt. ASICMiner is banking on BFL's continued delays and are gonna milk it for everything it is worth knowing some fool and his money are soon parted. That is the truth

However not everyone is a gloating buffoon with more money then he knows what to do with and a lack of patience. I will wait on BFL at these prices.

[minternj]

... if it wasn't priced at more than a Jalapeno with significantly less hashrate.

Except those don't exist. Not until BFL actually ship them. Spare me the discussion of 6 ppl receiving them. That is like a satoshi to a bitcoin of their total orders, Simply doesn't count. And if you considered the new lowest amount to relay a transaction suggestion. Then they Literally don't count.

They do exist, vid proof on youtube. So what justifies spending 2 btc on a 300 mh device when for about the same you can get way more hash power in a BFL jalapeno?

It is a greedy money grab to be blunt. ASICMiner is banking on BFL's continued delays and are gonna milk it for everything it is worth knowing some fool and his money are soon parted. That is the truth

However not everyone is a gloating idiot with more money then he knows what to do with and a lack of patience. I will wait on BFL at these prices.

Take BFL out of the equation. This barely is better than a gpu that costs 1/3. Definitely a novelty item at this price. Power and space savings does not make it any more attractive to me. Might get one for shits and giggles.

[ionstorm]

honestly the price is obsurd, even if they need to profit off of these, it probably would have been better to build a larger device with multiple chips are comparable to the BFL Jalepeno, I'd have to spend over $2000 dollars to be running at 3Ghs.  I dont know why anyone in their right mind would spend this with all the DIY ASIC projects where the cost is much cheaper, you could order a few jalepeno's and a Bitforce 25Ghs Miner for the price of 10 of these.  Do your mathematics, this is not a smart investment for the consumer, it benefits ASIC Miner not you

[sneef]

+1 Too expensive.

I will try to get one, just 1... for the sake of historical collection of ASIC devices and such.

Might even turn it into a keyring.

[phantastisch]

A FPGA with a similar Hashrate goes for around $250-$300 and needs more power. And they are still selling like hot cake. And have no awesome share found LED.

[Miner99er]

I'm getting 30. To at least replace my GPU's, Drop the cost of electricity I use, and sell off the GPU's at a profit or move them over to LTC. Since the GPU's are paid for (many times over at this point.) It doesn't really matter what the cost are.

I'd rather pay the opportunity costs of having them on hand and mine BTC or other SHA256 based Altcoins but if you can't see the fact they're useful in that regard, hey... more for me.

[tigerfree]

A FPGA with a similar Hashrate goes for around $250-$300 and needs more power. And they are still selling like hot cake. And have no awesome
 share found LED.

FPGA can be used in other projects and can be resold and re balling .