Block Erupter USB Sales [Temporarily Out of Stock]

[turtle83]

30 days   12.93686804 LTC   0.35149470 BTC   34.18 USD
Am I missing something? (using 330 kH/s)

Your hashrate estimate for Block Eruptor mining scrypt is slightly off.

Its not 330 KH/s . More like 0 KH/s.

Using this more accurate estimate, i would assume your litecoin calculator should say.

30 days   0 LTC   0 BTC   0 USD

[carnitastaco]

3) Which do you prefer:
   3a) ASICMiner sells USB miner for 0.5 BTC.  Customer sells it on ebay for $400.
   3b) ASICMiner sells USB miner for 1.99 BTC.  Customer sells it on ebay for $400.

Ebay prices have dropped quickly after the price cut. Remember not everyone who is ready and willing to buy USB miners has the BTC to do so. Ebay makes an easy way to purchase them with fiat, albeit with a markup.

That's not my point.

All I'm saying is that ASICMiner should sell at the market price so they reap the profit and not resellers.

level of demand @ $400 does not equal level of demand @ 2 BTC, just like level of demand @ 2 BTC does not equal level of demand @ 1 BTC.  This is standard Econ 1 stuff.

[PeZ]

ASICMiner should just open up an Ebay account.

[btceic]

level of demand @ $400 does not equal level of demand @ 2 BTC, just like level of demand @ 2 BTC does not equal level of demand @ 1 BTC.  This is standard Econ 1 stuff.

what?

if these were priced at .50 btc i would buy 10 right now, the level of demand would increase and he would sell more of them to more people, thus increasing his profitibility long term. as they are/were priced i have not bought any.

[tacotime]

I'm going to buy them and exchange the BTC for Litecoins, which currently cost waaaay more power to generate in comparison.  So I really don't feel bad.  I will keep them running until they can no longer profit.

You would do better to buy some bitcoins and use those to exchange for litecoins.

Or, you know, buy some litecoins.

If you buy a block erupter at this price, you are guaranteed to get less bitcoin than if you just buy bitcoins. You will also get those less bitcoins over a longer period of time than just buying some bitcoins. So if you want bitcoins, buy some bitcoins, don't but a block erupter.

Same logic applies to litecoins.

The difficulty has to increase by two orders of magnitude for these to become totally worthless in terms of power usage versus mining income.  I plan to run them for the next couple of years.  I'm not really worried.  If they lose money, so be it, at least they're not costing me anything to run and they are securing the Bitcoin network.

The per watt efficiency is similar to other manufacturers out there, so as long as they are mining profitably, probably I will be too.

In the meantime you're welcome to disseminate your money to operations who will ship in "September" or "October" or whenever, who will probably use your funds to buy ASICs, destroy the network difficulty with them before shipping them out, and then send a slightly profitable brick to your doorstop (as we're seeing with Avalon and BFL, and as I'm sure we'll see with the Klondike etc manufacturers).

[carnitastaco]

level of demand @ $400 does not equal level of demand @ 2 BTC, just like level of demand @ 2 BTC does not equal level of demand @ 1 BTC.  This is standard Econ 1 stuff.

what?

if these were priced at .50 btc i would buy 10 right now, the level of demand would increase and he would sell more of them to more people, thus increasing his profitibility long term. as they are/were priced i have not bought any.

yeah thats exactly what I'm saying, except in response to the person saying FC could price them HIGHER because people on ebay were overpaying.  More people will buy at 2 btc than $400, more people will buy at 1 btc, than 2 btc.  The ultimate profit maximizing sale price is not the highest price a few people are willing to pay.

[Bitcoinorama]

level of demand @ $400 does not equal level of demand @ 2 BTC, just like level of demand @ 2 BTC does not equal level of demand @ 1 BTC.  This is standard Econ 1 stuff.

what?

if these were priced at .50 btc i would buy 10 right now, the level of demand would increase and he would sell more of them to more people, thus increasing his profitibility long term. as they are/were priced i have not bought any.

yeah thats exactly what I'm saying, except in response to the person saying FC could price them HIGHER because people on ebay were overpaying.  More people will buy at 2 btc than $400, more people will buy at 1 btc, than 2 btc.  The ultimate profit maximizing sale price is not the highest price a few people are willing to pay.

No that's called price gouging, or profiteering, i.e. taking advantage of people in the current ASIC environment.

Whether you buy now, or later at his reduced price you are likely to profit the same (if at all), as he steals all to gain from the situation for himself. All you've done this past month by owning one is make cash for friedcat. The same of those that buy now in a few weeks time when prices are slashed again. It's nonsense to buy anything from asicminer unless for novelty purposes.

[nottm28]

No that's called price gouging, or profiteering, i.e. taking advantage of people in the current ASIC environment.

Whether you buy now, or later at his reduced price you are likely to profit the same (if at all), as he steals all to gain from the situation for himself. All you've done this past month by owning one is make cash for friedcat. The same of those that buy now in a few weeks time when prices are slashed again. It's nonsense to buy anything from asicminer unless for novelty purposes.

That's what I was originally trying to say - you said it so much better

[massnerder]

The difficulty has to increase by two orders of magnitude for these to become totally worthless in terms of power usage versus mining income.  I plan to run them for the next couple of years.  I'm not really worried.  If they lose money, so be it, at least they're not costing me anything to run and they are securing the Bitcoin network.

The per watt efficiency is similar to other manufacturers out there, so as long as they are mining profitably, probably I will be too.

In the meantime you're welcome to disseminate your money to operations who will ship in "September" or "October" or whenever, who will probably use your funds to buy ASICs, destroy the network difficulty with them before shipping them out, and then send a slightly profitable brick to your doorstop (as we're seeing with Avalon and BFL, and as I'm sure we'll see with the Klondike etc manufacturers).

I am a bit confused by your thinking here.  You plan to run your USB miners for 'a couple years', then turn around and say that other operations will destroy the difficulty and send something that isn't much more profitable than these things in the first place.  For this statement to make sense, the USB miners would have to break even before other ASIC companies ship, which probably isn't going to happen.  For the same cost you can get ~15x the hashpower but have to wait, wouldn't that mean that the difficulty would have to rise even more in order to make those options worthless as well?

[nubbins]

destroy the network difficulty with them before shipping them out

1) Manufacturer deploys xTH/s of customer-purchased hardware
2) Network difficulty destroyed
3) Manufacturer unplugs hardware to send to customers
4) Network difficulty un-destroyed
5) Customers deploy xTH/s of hardware
6) Network difficulty destroyed
7)

[CoinHoarder]

I just ordered 84 of these bad boys.

My 3 month plan:
Mine with them for ~month = ~$2000 usd profit
Sell on Ebay for ~$150 (half of what they're selling for now) = ~$12600
Cost of 84 = ~84.2 BTC = ~$8630.50
Estimated total income = ~$14600
Estimated profit = ~$5970

You guys are welcome to your own opinion, but this doesn't seem like a bad deal to me.

Granted.. I may not be able to sell them all for $150 on ebay, but even if I sell them at cost I was still able to mine on them for a month for free.  

[lazydna]

destroy the network difficulty with them before shipping them out

1) Manufacturer deploys xTH/s of customer-purchased hardware
2) Network difficulty destroyed
3) Manufacturer unplugs hardware to send to customers
4) Network difficulty un-destroyed
5) Customers deploy xTH/s of hardware
6) Network difficulty destroyed
7)

no, like this

1) Manufacturer deploys xTH/s of customer-purchased hardware / while producing next generation of ASICS
2) Network difficulty destroyed
3) SELL old equipment to people / Manufacturer unplugs hardware to send to customers
4) Network difficulty still destroyed
5) Customers deploy xTH/s of hardware
6) Network difficulty more destroyed
7)

[lazydna]

I just ordered 84 of these bad boys.

My 3 month plan:
Mine with them for ~month = ~$2000 usd profit
Sell on Ebay for ~$150 (half of what they're selling for now) = ~$12600
Cost of 84 = ~84.2 BTC = ~$8630.50
Estimated total income = ~$14600
Estimated profit = ~$5970

You guys are welcome to your own opinion, but this doesn't seem like a bad deal to me.

Granted.. I may not be able to sell them all for $150 on ebay, but even if I sell them at cost I was still able to mine on them for a month for free.  

this is a rosy picture.
a bit to risky for me. but possible given most people don't understand the basic math around bitcoin difficulties. so yeah, people will eat up these usb miners not realizing, they'll never see a return. kind of like donating money.

I PM'd one guy who paid 39.41BTC for one used asic blade not 3 days ago. had the same idea as you.

I don't even know what to think.

[nubbins]

Sell on Ebay for ~$150 (half of what they're selling for now) = ~$12600

They're not selling for $300 on eBay anymore. None of those buyers are going to pay up when they see new auctions for $110.

[tacotime]

The difficulty has to increase by two orders of magnitude for these to become totally worthless in terms of power usage versus mining income.  I plan to run them for the next couple of years.  I'm not really worried.  If they lose money, so be it, at least they're not costing me anything to run and they are securing the Bitcoin network.

The per watt efficiency is similar to other manufacturers out there, so as long as they are mining profitably, probably I will be too.

In the meantime you're welcome to disseminate your money to operations who will ship in "September" or "October" or whenever, who will probably use your funds to buy ASICs, destroy the network difficulty with them before shipping them out, and then send a slightly profitable brick to your doorstop (as we're seeing with Avalon and BFL, and as I'm sure we'll see with the Klondike etc manufacturers).

I am a bit confused by your thinking here.  You plan to run your USB miners for 'a couple years', then turn around and say that other operations will destroy the difficulty and send something that isn't much more profitable than these things in the first place.  For this statement to make sense, the USB miners would have to break even before other ASIC companies ship, which probably isn't going to happen.  For the same cost you can get ~15x the hashpower but have to wait, wouldn't that mean that the difficulty would have to rise even more in order to make those options worthless as well?

Okay; 15x the hash power for these other devices, which are a bit cheaper per GH/s.  For these devices to lose money mining (versus electricity), we need the overall network hash rate to increase beyond 100 fold what it currently is now.  At that point, everyone is likely losing money unless someone comes out with a way more energy efficient process.  There shouldn't be any point in the next couple years where I'm losing much money mining with these.  Maybe I'll make $250 fiat bucks back, or $100, or $1000.  Doesn't really matter to me; I'm supporting the BTC network by a decentralized means.

No one can tell what the price of BTC will be in the future, and also what the network hash rate will be in the future.  The price may fall to the point where it's not profitable for large ASIC mining companies to continue their operations mining or manufacturing products (similar to what happened after the 2011 crash), the difficulty could collapse, everyone could start throwing their devices out windows because they are worthless.  I can continue mining and losing a few bucks per month with my little USB sticks at pretty much no risk to me (a cheeseburger a month in power -- who cares?).  Then we may see the price go up in the long term.  One of the best times to be mining BTC before was when it was seldom very profitable by GPU in 2012, because the difficulty kept falling and everyone still mining kept getting more and more BTC; over time the BTC proved very valuable.

This is my high risk investment.  I know I'll make at least a little back, I have no worries about the loss of $500, and I'll be securing the network in the meantime.

[tacotime]

destroy the network difficulty with them before shipping them out

1) Manufacturer deploys xTH/s of customer-purchased hardware
2) Network difficulty destroyed
3) Manufacturer unplugs hardware to send to customers
4) Network difficulty un-destroyed
5) Customers deploy xTH/s of hardware
6) Network difficulty destroyed
7)

Or they unplug them one at a time and ship out like the Avalons did, without perturbing total difficulty increase much...

[CoinHoarder]

Sell on Ebay for ~$150 (half of what they're selling for now) = ~$12600

They're not selling for $300 on eBay anymore. None of those buyers are going to pay up when they see new auctions for $110.

True- they aren't selling for $300. Latest prices were $215-$280...

However, I doubt many people sell for $110 seeing as though they cost 1 BTC (~$110). After Paypal fees there wouldn't hardly be any profit in it, except for what you're able to mine before you sell them.

Again, even if I sell them for how much they cost me.. about $110, I was still able to mine for a month for free.  

Worst case scenario IMO is I get stuck with all of them and have to wait two years for ROI. Luckily I am a patient man.  

[PeZ]

I just ordered 84 of these bad boys.

My 3 month plan:
Mine with them for ~month = ~$2000 usd profit
Sell on Ebay for ~$150 (half of what they're selling for now) = ~$12600
Cost of 84 = ~84.2 BTC = ~$8630.50
Estimated total income = ~$14600
Estimated profit = ~$5970

You guys are welcome to your own opinion, but this doesn't seem like a bad deal to me.

Granted.. I may not be able to sell them all for $150 on ebay, but even if I sell them at cost I was still able to mine on them for a month for free.  

You are losing money by mining with them. If you really want to mine, you should sell enough of them on Ebay right away to get back your capital investment.

[r0sc0e]

friedcat,

would be nice if you answer my pm i send you :-)

thanks

r0sc0e

[Bitcoinorama]

I just ordered 84 of these bad boys.

My 3 month plan:
Mine with them for ~month = ~$2000 usd profit
Sell on Ebay for ~$150 (half of what they're selling for now) = ~$12600
Cost of 84 = ~84.2 BTC = ~$8630.50
Estimated total income = ~$14600
Estimated profit = ~$5970

You guys are welcome to your own opinion, but this doesn't seem like a bad deal to me.

Granted.. I may not be able to sell them all for $150 on ebay, but even if I sell them at cost I was still able to mine on them for a month for free.  

Never going to happen. Another month from now when prices are slashed again, because let's face it they have to be, you'll have a few coins and be at a loss on your purchase, even if you intend to resell, but go for what you know...All yor doing is turning a fried cat into a fat one!