AGD (OP)
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Keeper of the Private Key
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June 08, 2013, 01:26:18 PM |
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Bought, tested and saw, that they don't make the money they have expected - now selling?
I mean, everybody has some USB ports available and 333MHz should return the investment quick esp with that powerconsumption. Why selling instead of mining?
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runlinux
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June 08, 2013, 01:29:49 PM |
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Because people think the ROI should be few weeks, not months (or a year or two?) around here.
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swordfish6975
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June 08, 2013, 01:30:05 PM |
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guess they just wanted short term profit or expect the network difficulty to get to high...
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SlyFoxy12
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June 08, 2013, 01:35:31 PM |
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I'm not sure why people bought them up in the first place, they cost the same as a half decent graphics card, they hash about as much, but have no real resell value, it's only the fact that they're USB and lower power consumption that they're worth while, for me they're worth nothing as I mine electricity cost free, I liked the idea of being able to just put loads attached to one machine though.
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shirou
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June 08, 2013, 01:39:55 PM |
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a lot of people keep buying them, because they get nearly twice of their purchase price on ebay. Why should they wait for a ROI with 330 Mh/s? By selling them in auctions, the profit will be much higher than mining them a year!
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wheatrich
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June 08, 2013, 04:00:58 PM |
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Because people think the ROI should be few weeks, not months (or a year or two?) around here.
That gravy train is over. Lol internet. Well that and you can sell them for more than they initially paid for them. |
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J35st3r
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June 08, 2013, 05:12:02 PM |
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a lot of people keep buying them, because they get nearly twice of their purchase price on ebay. Why should they wait for a ROI with 330 Mh/s? By selling them in auctions, the profit will be much higher than mining them a year!
Facepalm! I've been wondering about this myself, but this just hits it on the nail. Like buying overpriced beads, shipping them across the ocean, then selling them to the natives at twice the price. Good trick while it works, but don't get left holding the baby. BTW What ROI? Forever is a long, long time. |
1Jest66T6Jw1gSVpvYpYLXR6qgnch6QYU1 NumberOfTheBeast ... go on, give it a try 
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logicbomb666
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June 08, 2013, 06:23:39 PM |
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I bought one for the following reason:
-They are cool looking
-They are not a "preorder" with infinite waiting time
-They are very small
-They are within my price range
-They have very small power consumption
-I live in a small apartment in Texas (3 video cards = enough heat for half the apartment in the winter. Now that it is June, running 3 cards makes my A/C run all day every day)
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I think snare rolls should be used as a currency.
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Xian01
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Christian Antkow
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June 08, 2013, 07:21:46 PM |
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Probably because people are not thinking long-term. I've been mining for 2 years now that has allowed me to amass enough BTC to upgrade to current ASIC hardware with $0 fiat out-of-pocket. I hope to be mining and growing my farm over the next two years at least. Granted, if BTC/USD value tanks, we're all taking it in the pooper  Point is, yes the USB miners are costly, but they are way more energy efficient than GPU's and will ROI faster... in theory. Don't think about the next 120 days. Try to think about the next two years. |
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os2sam
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Think for yourself
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June 08, 2013, 07:30:30 PM |
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Don't think about the next 120 days. Try to think about the next two years.
We don't know what the reliability of these will be. My two GPU's have been mining 24/7 for over two years straight. Will these devices be able to do that? I hope so since I bought some too. And no they aren't for sale, yet. Sam |
A: Because it messes up the order in which people normally read text.
Q: Why is top-posting such a bad thing?
A: Top-posting.
Q: What is the most annoying thing on usenet and in e-mail?
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Trongersoll
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June 08, 2013, 07:39:00 PM |
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Also, this is a way for people to convert their Bitcoins into fiat money without going through an exchange at very favorable rates.
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nwoolls
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June 08, 2013, 08:16:10 PM |
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Plug in 333 Mh/s for $250 into any of the calculators that take into account an exponential rise in difficulty and you will find that these never break even. If the difficulty is rising exponentially, which there are strong indications that it is, these items will make less and less at a rate that means they never pay for themselves at any power use or electricity cost.
I plan on running some and selling some on Ebay. Profits from Ebay means I won't need to cover the cost of the ones that I do run.
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MultiMiner: Any Miner, Any Where, on Any Device | Xgminer: Mine with popular miners on Mac OS X |
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KSV
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June 08, 2013, 08:22:01 PM |
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exactly, coz they don't make too much profit
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nottm28
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June 08, 2013, 08:29:30 PM |
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Plug in 333 Mh/s for $250 into any of the calculators that take into account an exponential rise in difficulty and you will find that these never break even. If the difficulty is rising exponentially, which there are strong indications that it is, these items will make less and less at a rate that means they never pay for themselves at any power use or electricity cost.
I plan on running some and selling some on Ebay. Profits from Ebay means I won't need to cover the cost of the ones that I do run.
Assuming the price of bitcoin will remain the same... - if, in a years time from now 1 BTC = $500 dollars then these little usb gizmos will have been a steel... |
donations not accepted
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nwoolls
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June 08, 2013, 08:45:34 PM |
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Assuming the price of bitcoin will remain the same... - if, in a years time from now 1 BTC = $500 dollars then these little usb gizmos will have been a steel...
Then buy 2.2 BTC with USD. You get the same benefits of BTC exchange rate rising without losing 2.2 BTC on the assumption that the value will rise. |
MultiMiner: Any Miner, Any Where, on Any Device | Xgminer: Mine with popular miners on Mac OS X |
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J35st3r
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June 08, 2013, 08:46:27 PM
Last edit: June 08, 2013, 09:02:10 PM by J35st3r |
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Assuming the price of bitcoin will remain the same... - if, in a years time from now 1 BTC = $500 dollars then these little usb gizmos will have been a steel...
Not if you bought them with BTC though. And if you bought them with dollars, your would have made more profit by just buying BTC on an exchange and leaving it in your wallet. |
1Jest66T6Jw1gSVpvYpYLXR6qgnch6QYU1 NumberOfTheBeast ... go on, give it a try
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nwoolls
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June 08, 2013, 08:57:08 PM |
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Assuming the price of bitcoin will remain the same... - if, in a years time from now 1 BTC = $500 dollars then these little usb gizmos will have been a steel...
Think of it this way: if your goal were to profit based on the assumption that the value of BTC will rise, then your best move is to buy one of these at 2.2 BTC (around $245 USD currently) and then sell it on Ebay for around $400 USD. Take that $400 USD and buy BTC. Repeat. |
MultiMiner: Any Miner, Any Where, on Any Device | Xgminer: Mine with popular miners on Mac OS X |
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J35st3r
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June 08, 2013, 09:01:26 PM |
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Think of it this way: if your goal were to profit based on the assumption that the value of BTC will rise, then your best move is to buy one of these at 2.2 BTC (around $245 USD currently) and then sell it on Ebay for around $400 USD. Take that $400 USD and buy BTC. Repeat.
That works even if BTC falls in value (a bit anyway). Doesn't seem very ethical (taking candy from babies), but that's what Avalon/BFL/ASICMINER are doing to their customers (well the new ones anyway). |
1Jest66T6Jw1gSVpvYpYLXR6qgnch6QYU1 NumberOfTheBeast ... go on, give it a try
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ebildude123
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June 08, 2013, 10:42:26 PM |
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Some are trying to get a quick profit from reselling.
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Malawi
Full Member
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Merit: 100
One bitcoin to rule them all!
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June 08, 2013, 10:47:22 PM |
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Bought, tested and saw, that they don't make the money they have expected - now selling?
I mean, everybody has some USB ports available and 333MHz should return the investment quick esp with that powerconsumption. Why selling instead of mining?
Because they are to expensive to give any profit? |
BitCoin is NOT a pyramid - it's a pagoda.
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