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Author Topic: Advice: Do not buy pre-orders from eBay  (Read 906 times)
ItsCrafty
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September 14, 2017, 11:51:09 PM
 #1

Hello crypto enthusiasts and especially the newbies here. You might see some good new mining hardware being already sold out and the only option you will see is to buy at a premium from eBay or Amazon.

I will strongly suggest against this.

As an example, the new D3 Dashminer has a crazy 15GH/s hashrate and you will see that the initial $1600 investment will be earned back in merely 27 days with currently difficulty. That's a great ROI, and you might think that even paying double the price is worth it, however that is where the real problem is.

There were 100s of these sold in different 15 day apart pre-orders from Sept to Dec. and so the difficulty rise will be so steep that the ROI will start looking 200 days and more in no time.

So you will never see your money back unless the coin itself shoots up way high (where buying makes more sense than mining). Also with all the stress associated with mining, such as rig not working, burnt, damaged for whatever reason etc makes mining at a huge premium a bad decision.

Take it from me, as I did this myself and burnt badly, where I bought the butterfly labs 64GH/s miners for 3K each off of eBay and never got the returns back in 2013. And also lost every single bitcoin to MtGox  that I got from this mining activity. Sad

All in all, I spent 6K USD for miners which I ended up selling for 170 USD each on eBay after 6 months of mining.  Plus huge electricity bill for 6 months of mining (around $150 USD each month).

So please think twice before pulling the trigger. I am not discouraging you all, however offering some first hand experience so that you all can make an informed decision.

Thanks!

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bitcoinexplorer
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September 15, 2017, 05:24:17 PM
 #2

Hello crypto enthusiasts and especially the newbies here. You might see some good new mining hardware being already sold out and the only option you will see is to buy at a premium from eBay or Amazon.

I will strongly suggest against this.

As an example, the new D3 Dashminer has a crazy 15GH/s hashrate and you will see that the initial $1600 investment will be earned back in merely 27 days with currently difficulty. That's a great ROI, and you might think that even paying double the price is worth it, however that is where the real problem is.

There were 100s of these sold in different 15 day apart pre-orders from Sept to Dec. and so the difficulty rise will be so steep that the ROI will start looking 200 days and more in no time.

So you will never see your money back unless the coin itself shoots up way high (where buying makes more sense than mining). Also with all the stress associated with mining, such as rig not working, burnt, damaged for whatever reason etc makes mining at a huge premium a bad decision.

Take it from me, as I did this myself and burnt badly, where I bought the butterfly labs 64GH/s miners for 3K each off of eBay and never got the returns back in 2013. And also lost every single bitcoin to MtGox  that I got from this mining activity. Sad

All in all, I spent 6K USD for miners which I ended up selling for 170 USD each on eBay after 6 months of mining.  Plus huge electricity bill for 6 months of mining (around $150 USD each month).

So please think twice before pulling the trigger. I am not discouraging you all, however offering some first hand experience so that you all can make an informed decision.

Thanks!

In case of D3, it looks true.....but lets see whats the real thing in real time market conditions. People with huge investment will still be buying D3s lets see.
bearsworth
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September 15, 2017, 05:34:54 PM
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I think the only batches you should buy are the first two. Last few do not pay more than $4000 on ebay. Also I remember the same FUD about when the Antminer L3+ was released. Everyone was saying the same stuff, right after hashnest had released 3000+. It turned out the price of litecoin rose so well that all the miners made 500% ROI atleast.

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bytiges
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September 15, 2017, 07:52:09 PM
 #4

So, what you think shall be the right price off ebay ? Like +50% of current price or higher ?
bearsworth
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September 15, 2017, 09:05:15 PM
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So, what you think shall be the right price off ebay ? Like +50% of current price or higher ?


I would try to buy from Bitmain given that stock is in and out due to people reserving and not paying. If I wanted first two batches, I'd likely pay 7-8 k for batch 1 and 4-5k for batch 2, but I doubt people on ebay will sell it that low.

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bitcoinexplorer
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September 16, 2017, 12:58:13 AM
 #6

So, what you think shall be the right price off ebay ? Like +50% of current price or higher ?


I would try to buy from Bitmain given that stock is in and out due to people reserving and not paying. If I wanted first two batches, I'd likely pay 7-8 k for batch 1 and 4-5k for batch 2, but I doubt people on ebay will sell it that low.

At this stage my advise is just buy 1 unit for fun and don't expect fast ROI, but if you do get its a party for you  Tongue

bytiges
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September 16, 2017, 12:41:41 PM
 #7

well, i got 2 of them. just in case. maybe resell one locally to help roi a little and share the fun.
wkhash
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September 16, 2017, 01:51:19 PM
 #8

The bigger concern is to watch the ship dates.  Preorders on ebay must be delivered 30 days from the purchase date. (so end of auction or from the day it starts on a fixed price).   Any listing that is for November for instance is not covered by ebay buyers protections.  If that seller never ships your product, ebay nor paypal will cover you for it.  You are taking a massive risk they wont even ship the product. You'll notice most of the people selling them have positive buyer feedback or positive feedback in another category.   It's against the ToS for the vast majority of the D3s on the site and they are being constantly pulled for that reason. Buyer beware on anything that ships longer than 30 days on ebay, they wont protect you.
Jdope
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September 16, 2017, 04:13:44 PM
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Just think financially straight and you should be ok, like why buy an l3+ fo double the price when you can pay regular price and get it in a month or two, will that month make the price difference? most probably not
ItsCrafty
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September 19, 2017, 12:24:24 PM
 #10

I think the only batches you should buy are the first two. Last few do not pay more than $4000 on ebay. Also I remember the same FUD about when the Antminer L3+ was released. Everyone was saying the same stuff, right after hashnest had released 3000+. It turned out the price of litecoin rose so well that all the miners made 500% ROI atleast.

Well, everyone who invested in those coins six months ago made a lot more due to steep rise in all the big coins. So counting on the coin going up is not an option here. You should be able to get your returns without a huge increase in the price of the coin. Then its equally profitable for a miner vs an investor.

techguy91
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September 19, 2017, 02:44:29 PM
 #11

ASIC's make way more than GPU mining.  A top of the line 5 rig 1080ti machine will only earn you about 10 to 12$ a day after elec.  That's small numbers for a $4,500 machine.

May as well buy a L3+ on eBay for 5k.  It'll earn double the GPU miner.

Truth is GPU mining doesn't compare to Antminers.
carlfebz2
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September 19, 2017, 02:50:25 PM
 #12

ASIC's make way more than GPU mining.  A top of the line 5 rig 1080ti machine will only earn you about 10 to 12$ a day after elec.  That's small numbers for a $4,500 machine.

May as well buy a L3+ on eBay for 5k.  It'll earn double the GPU miner.

Truth is GPU mining doesn't compare to Antminers.
It would really be on case to case basis on which coins you are mining on GPU.Im not on the side of GPU mining but it is still profitable though and somehow cheaper for me compared on asic but if you are really fan on those coins which only requires ASIC miners then its up your own choice because people do have different hobby and interest. Buying ASIC miners on my country is damn hard even on bitmain chances are really slim this is why I don't really bother at all.



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bigjee
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September 19, 2017, 04:32:15 PM
 #13

ASIC's make way more than GPU mining.  A top of the line 5 rig 1080ti machine will only earn you about 10 to 12$ a day after elec.  That's small numbers for a $4,500 machine.

May as well buy a L3+ on eBay for 5k.  It'll earn double the GPU miner.

Truth is GPU mining doesn't compare to Antminers.

Let me know how much your ASIC is worth when you try to resell it after a few months or even a year. (spend thousands to get ROI in days, is risky. And you're SOL if the machine breaks down)
ASICS have a short life span most man. only give 6 months warranty some even 30 days.
GPU's are slower but more consistent, plus you get WAAAY better aftersales service than local chinese companies like Bitmain that manipulate the market and give sub par customer service. But to each their own
ItsCrafty
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September 29, 2017, 12:21:47 AM
 #14

Its a pain to see the ASIC being DOA and not having your ROI. Better invest and watch the price. There is fun in mining, no doubt about it, however its risky. Also GPUs sell well even when they are old as already mentioned in the post above.

llzzyy234
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September 29, 2017, 12:27:02 AM
 #15

1st question, why buy from ebay and pay double or even triple price?Huh? Huh
ItsCrafty
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September 29, 2017, 12:52:35 AM
 #16

1st question, why buy from ebay and pay double or even triple price?Huh? Huh

It can give ROI if you  get to grab the first batch. Look at the people who got their hands on the first Dashminer. They were making almost $180 after electric bills each day. So to get your initial investment back, a month was enough. Even at a price 3 times higher, that would have resulted in an ROI in a months time. However buying now doesn't make sense, when Bitmin itself is selling it while eBay has been flooded by D3s.

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