HashFast announces specs for new ASIC: 400GH/s

[hashcashcow]

u do realize how easy it is to use these machines and nobody would know right? this whole biz is shady and dont expect to be 100% satisfied. thats the risk i took and the risk im paying for now.

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[cedivad]

You can't be that stupid, why do you keep trolling us that way? Or maybe you are on drugs right now? It could explain it.

[jjiimm_64]

my ignore list is growing....

.....my stress level is lowering

[sharky34]

Hi folks,

I'm new (sorry if this is a dumb question)... but I'm interested in buying the HF Jupiter.  But, when I look at calculators like - mining.thegenesisblock - according to their difficulty predictions, it would be lucky to generate a lousy $1k profit in a year (after $6k investment payoff).  Am I missing something here, or how is anyone making money off this hobby now?  Why is anyone buying these if even the latest/greatest units aren't paying?

Thanks
-Sharky

[dwdoc]

Its clear exactly whats been going on from the start.
Hashfast makes a sick deal, sells a crap load of machines when market was at like $120 and gets them in stock prob 3 days later.
Decides to mine for themselves for 2 months and ship late October.
easy money.
then what happens? they see market is now at over $200 and realize that every day they stall they make a crap load more money. so its in their best interest to ship as late as possible and continue to mine for themselves.
Smart no?
they say we promised no matter then end of December so technically they have no reason to give the machines to us.
Every day is more coins in their pocket.
I would have done the same thing in their shoes.
I bet if market was at $50 they would have delivered machines to us early.
win - win for them.
Please tell me if anyone here agrees with me.
Do we actually believe it takes them 2 months to make these machines? or is it more likely they wanted to build them with our money and mine for free for 2 months. And now they are being even greedier and mining bec value has gone up even more?
Think about it.
Nothing we could do.
 

So let's get this straight. Instead of delivering in October and generating major customer satisfaction and increased sales and decreased threat of refunds and lawsuits they are mining for themselves (where is the evidence of this in the blockchain and why wouldn't they post pictures of parts?).

[dwdoc]

Hi folks,

I'm new (sorry if this is a dumb question)... but I'm interested in buying the HF Jupiter.  But, when I look at calculators like - mining.thegenesisblock - according to their difficulty predictions, it would be lucky to generate a lousy $1k profit in a year (after $6k investment payoff).  Am I missing something here, or how is anyone making money off this hobby now?  Why is anyone buying these if even the latest/greatest units aren't paying?

Thanks
-Sharky

The Jupiter is sold by KnCminer not Hashfast.  It is $5000 for November delivery. It will not ROI in its lifetime.
If you buy a mining device you have to do your homework, pick the right company and make sure you order on day 1 to secure "first day shipping." Then cross your fingers and hope they deliver on time.

[ASIC-K]

Hi folks,

I'm new (sorry if this is a dumb question)... but I'm interested in buying the HF Jupiter.  But, when I look at calculators like - mining.thegenesisblock - according to their difficulty predictions, it would be lucky to generate a lousy $1k profit in a year (after $6k investment payoff).  Am I missing something here, or how is anyone making money off this hobby now?  Why is anyone buying these if even the latest/greatest units aren't paying?

Thanks
-Sharky

The Jupiter is sold by KnCminer not Hashfast.  It is $5000 for November delivery. It will not ROI in its lifetime.
If you buy a mining device you have to do your homework, pick the right company and make sure you order on day 1 to secure "first day shipping."

+1

[btc_uzr]

Hi folks,

I'm new (sorry if this is a dumb question)... but I'm interested in buying the HF Jupiter.  But, when I look at calculators like - mining.thegenesisblock - according to their difficulty predictions, it would be lucky to generate a lousy $1k profit in a year (after $6k investment payoff).  Am I missing something here, or how is anyone making money off this hobby now?  Why is anyone buying these if even the latest/greatest units aren't paying?

Thanks
-Sharky

One more time I'd like to point out that mining is a hobby - indeed an expensive one, but it's a hobby.
I know guys spending € 5.000+ for bicycle, just for fun and because it's their hobby.

Nobody with brain left would mine for profit *ONLY*.
I love playing around with hw/sw, I spend a lot of money the last decade for technical gadgets and equipment.
It's one of my hobbies, which just moved to mining. First hobby actually returning financial value instead of consuming money only.

If you are heading for profit - step away from mining and buy coins instead.
If you would have bought coins in August you would have had +100% profit until today - never reachable with mining for sure.

In addition when you buy&hold coins you do not have downtimes, fires, heat, noise, replacement parts, electricity bills, break in attempts, ...

[sharky34]

btc_uzr - Thank you for the post...I totally agree with you, and I'm not getting into this to get rich.  I'm a techy and this is very interesting stuff, seems like a fun hobby.

With that said... I want to know as much as I can, and there is so much conflicting information out there its hard to know whats what.
I also don't want to buy hardware only to find out it won't mine much or get any ROI.  That's why I'm here talking to you smart/experienced folks.

[btc_uzr]

btc_uzr - Thank you for the post...I totally agree with you, and I'm not getting into this to get rich.  I'm a techy and this is very interesting stuff, seems like a fun hobby.

With that said... I want to know as much as I can, and there is so much conflicting information out there its hard to know whats what.
I also don't want to buy hardware only to find out it won't mine much or get any ROI.  That's why I'm here talking to you smart/experienced folks.

I'd recommend you in this case to keep an eye on things (KnCMiner 2nd Gen, HF/Cointerra next batches after first shipment).
Until spring next year I'd consider watching the things, only, as there's too much in movement right now and nobody knows how things might turn out.
This year is really the most craziest one in the btc history I guess: network increase, new ASIC manufacturers, btc value explosion, BFL finally shipping (the old crap), ...

[sharky34]

Hi folks,

I'm new (sorry if this is a dumb question)... but I'm interested in buying the HF Jupiter.  But, when I look at calculators like - mining.thegenesisblock - according to their difficulty predictions, it would be lucky to generate a lousy $1k profit in a year (after $6k investment payoff).  Am I missing something here, or how is anyone making money off this hobby now?  Why is anyone buying these if even the latest/greatest units aren't paying?

Thanks
-Sharky

The Jupiter is sold by KnCminer not Hashfast.  It is $5000 for November delivery. It will not ROI in its lifetime.
If you buy a mining device you have to do your homework, pick the right company and make sure you order on day 1 to secure "first day shipping." Then cross your fingers and hope they deliver on time.

Sorry, I meant the Sierra (3rd batch) for $6k, but I'm even surprised that the Jupiter (being a very new unit) wouldn't ever give a ROI.  So if this is true even you experienced miners are constantly buying new hardware all the time.. your fancy new units at best will be obsolete after a few months?  Sorry, I'm just trying to get my mind around this.  Even if profit isn't your only concern, this seems like a pretty crazy arms race.

[dopamine]

How many broken promises hashfast has made and how many times have they changed tos? I want a refund

[FeedbackLoop]

Sorry, I meant the Sierra (3rd batch) for $6k, but I'm even surprised that the Jupiter (being a very new unit) wouldn't ever give a ROI.  So if this is true even you experienced miners are constantly buying new hardware all the time.. your fancy new units at best will be obsolete after a few months?  Sorry, I'm just trying to get my mind around this.  Even if profit isn't your only concern, this seems like a pretty crazy arms race.

People pay tons of money for backyard greenhouses and perfect soil to grow a few over priced tomatoes. Wouldn't they get more tomatoes for the same money at the store? Even bio-eco-super tomatoes? Sure! It's the same drive for miners.

The only people benefiting monetarily from mining are the ASIC manufacturers and... Bitcoin USERS!

[vokain]

How many broken promises hashfast has made and how many times have they changed tos? I want a refund

definite violation of contract law

[crumbs]

btc_uzr - Thank you for the post...I totally agree with you, and I'm not getting into this to get rich.  I'm a techy and this is very interesting stuff, seems like a fun hobby.

With that said... I want to know as much as I can, and there is so much conflicting information out there its hard to know whats what.
I also don't want to buy hardware only to find out it won't mine much or get any ROI.  That's why I'm here talking to you smart/experienced folks.

I'd recommend you in this case to keep an eye on things (KnCMiner 2nd Gen, HF/Cointerra next batches after first shipment).
Until spring next year I'd consider watching the things, only, as there's too much in movement right now and nobody knows how things might turn out.
This year is really the most craziest one in the btc history I guess: network increase, new ASIC manufacturers, btc value explosion, BFL finally shipping (the old crap), ...

There's also stuff like the USB miners -- i think they're going for ~$20 or less now, haven't checked in the past month.  Those will let you get your feet wet & play with the software side of mining.  There's even limited HW tweaking (crystal swap/VR mod) -- won't make it profitable, but still fun.

[btc_uzr]

indeed, those usb miners a very good starting point.
~0.05BTC these days; not profitable but who cares

----

Hi folks,

I'm new (sorry if this is a dumb question)... but I'm interested in buying the HF Jupiter.  But, when I look at calculators like - mining.thegenesisblock - according to their difficulty predictions, it would be lucky to generate a lousy $1k profit in a year (after $6k investment payoff).  Am I missing something here, or how is anyone making money off this hobby now?  Why is anyone buying these if even the latest/greatest units aren't paying?

Thanks
-Sharky

The Jupiter is sold by KnCminer not Hashfast.  It is $5000 for November delivery. It will not ROI in its lifetime.
If you buy a mining device you have to do your homework, pick the right company and make sure you order on day 1 to secure "first day shipping." Then cross your fingers and hope they deliver on time.

Sorry, I meant the Sierra (3rd batch) for $6k, but I'm even surprised that the Jupiter (being a very new unit) wouldn't ever give a ROI.  So if this is true even you experienced miners are constantly buying new hardware all the time.. your fancy new units at best will be obsolete after a few months?  Sorry, I'm just trying to get my mind around this.  Even if profit isn't your only concern, this seems like a pretty crazy arms race.

Sierra is a nice piece of hardware from current point of view.
However I'd say it depends on the point in time of final delivery, what KnC offers begin of next year and how cointerra does..

Jupiter customers from day1/2 have until today ~50% of their investment back in pockets (from fiat view point, only).
So it might work out if you are one of the early birds taking a high risk, but for later ones the margin gets smaller and smaller.

Keep in mind a 'money printing' machine attracts greedy ones from all sides, stupid ones as well - I saw on ebay mid of September 7 bids for old avalon 160GH/s, $11.9xx

[sharky34]

Sierra is a nice piece of hardware from current point of view.
However I'd say it depends on the point in time of final delivery, what KnC offers begin of next year and how cointerra does..

Jupiter customers from day1/2 have until today ~50% of their investment back in pockets (from fiat view point, only).
So it might work out if you are one of the early birds taking a high risk, but for later ones the margin gets smaller and smaller.

Keep in mind a 'money printing' machine attracts greedy ones from all sides, stupid ones as well - I saw on ebay mid of September 7 bids for old avalon 160GH/s, $11.9xx

It seems impossible to count on fast delivery of any ASIC products lately from the response on the forums.
Very true (about the greedy folks). 
Also on a side note, has anyone used the calculator on http://mining.thegenesisblock.com/ ?  It has a spot to input "conversion increase %" - I assume thats the price BTC goes up in value each month.  Hard to estimate this, but I've read folks think $300 by Jan 2014 - so 50% rice might be a good guess no?

Thanks for the responses guys.

[DPoS]

but I'm even surprised that the Jupiter (being a very new unit) wouldn't ever give a ROI.

actually if you got one the first week or two you will ROI (in any way you feel like calculating it)

the trick is to be one of the first on the next gen..   those who got 1st Avalon really made a killing, and whoever comes out with 2nd gen ASIC the quickest will make winners of their first customers too.. 

those thinking HF will make winners of any of their customers now are fools.   If you have to think watts/Gh you already lost.  No one makes up ROI in power costs, that is such a small % of how much you really need to harvest in the first 2-4weeks

Right now in this diff, 1Th will get you ~1.4 BTC a day.  That will be over in a few days and then it will be only ~1 BTC per day for the next 10 days.

power costs are meaningless, at .15 kw/h and 1Gh/W (roughly what Jupiters are nowadays) you pay $4 a day. So in the next diff, during the 10 days of it, you make 10 BTC and pay $40.   $2,000 vs $40.  Does it matter if that $40 goes down to $20?   Seriously??  People think $20 per Th per month savings means anything in this game??

What mattered was hashing when 1 Th produced 2.6 BTC per day back when diff was around ~270mil early Oct

[pmorici]

Sierra is a nice piece of hardware from current point of view.
However I'd say it depends on the point in time of final delivery, what KnC offers begin of next year and how cointerra does..

Jupiter customers from day1/2 have until today ~50% of their investment back in pockets (from fiat view point, only).
So it might work out if you are one of the early birds taking a high risk, but for later ones the margin gets smaller and smaller.

Keep in mind a 'money printing' machine attracts greedy ones from all sides, stupid ones as well - I saw on ebay mid of September 7 bids for old avalon 160GH/s, $11.9xx

It seems impossible to count on fast delivery of any ASIC products lately from the response on the forums.
Very true (about the greedy folks). 
Also on a side note, has anyone used the calculator on http://mining.thegenesisblock.com/ ?  It has a spot to input "conversion increase %" - I assume thats the price BTC goes up in value each month.  Hard to estimate this, but I've read folks think $300 by Jan 2014 - so 50% rice might be a good guess no?

Thanks for the responses guys.

You should leave the conversion % increase at 0 because if the mining equipment isn't going to ROI in BTC terms then what is the point of going through the trouble of mining when you could have just bought BTC.

[hashcashcow]

If you want to have fun and actually make money then attempt to pay the btc value game...buy low and sell high. every day it goes down and goes up...just gatta be quick and smart.
Buying machines from these thief companies will just tie up ur money and make u regret the word mining.