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Author Topic: So glad I am out of the ASIC Rat Race....  (Read 2101 times)
Kuroth
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August 17, 2013, 04:22:09 PM
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More and more I have no doubt that the only people that will win in this ASIC Rat Race are:

a.  The Company's Selling them(Most of which are deceiving and crooked.  I truly believe most of these companies like BFL are mining with the units and thus the LONG delays in shipping them )
b.  Those that took a gamble last year and already have one(Which I don't believe is that many people actually(10%, if that many, have one, 90% are in the Rat race waiting for one(While more then likely the one their waiting on is mining for the company.  Nice long Burn in   Grin )
c.  Those that are close to getting their Pre Orders BUT ALSO that have a large Pre Order ( 1 TH or more)


Above are the ONLY people that will make any decent money..  The rest of you(Depending on what and from who your purchased) will be LUCKY to break even with VERY little if any ROI..  And a LOT of you wont even break Even..


I came to this realization about 3 days ago when I looked at what I currently have(GPU miner) vs what I had on order..

I cancelled my BFL order(Yes got all my Refunds) and just this week my KNC order(refund Processing..  They seem to be honest)..


The Answer was right in front of my face..   My GPU miner..   (GPU Miners are DEAD... LOL  Well yes they are if you dont know what your doing)

I took my (Soon to be) KNC refund and used less then 40% of that Refund and ordered a Second GPU miner that will also serve as my my PC and Gaming PC(Very High end Gaming PC)  I dont play games much so effect on mining will me small(You can actually play games and still mine if you know what your doing  Wink )

So I will now have 2 GPU miners rigs for a total of right at 3 GH...   Wow you say that will not do anything when it comes to BTC..   And you are 100% correct..  But I wont be mining BTC(Well not directly I mean)

I will be mining Alt Coins that are Automatically Exchanged and converted to BTC.  Been doing this over a month now and with my 1 miner made $200 after Electric taken out(I pay very little for my Electric rate)

With the second miner/Game PC coming this week I will Avg $400 a month Profit..  Yes  not a ton.. But the beauty of the way I am now mining, this $400 per month should be sustainable and even slowly increase for the next 2 or 3 years no matter what the difficulty does to BTC..   (As long as the whole BTC and Alt Coins dont crash which in that case all ASIC miners will be SOL too anyway)  Putting Pen to paper I will make much more doing this over then next 1 to 3 years then I even would with my late to the game ASIC

I am sure I will be flamed BUT in reality this Post should be sicked here..  

Good luck everyone...  

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August 17, 2013, 08:06:35 PM
 #2

current state of asics is a disaster.

most people are not going to get ROI (might as well just BUY bitcoins straight up)
and even if they do get ROI it's not worth the extra Bitcoin it'll generate after expenses

ok
Kuroth
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August 17, 2013, 10:46:53 PM
 #3

current state of asics is a disaster.

most people are not going to get ROI (might as well just BUY bitcoins straight up)
and even if they do get ROI it's not worth the extra Bitcoin it'll generate after expenses

May I suggest don't just Buy BTC and hold them, Trade them...  See my Sig below..  I have been using Butter Bot for about 3 weeks and made $90 just the other day on a trade it did for me..  You have to have patience but this thing works..   The OP of butter Bot is EXCELLENT and will answer any question you have and the price for the Bot is not bad at all and should be paid for with one good trade..


og kush420
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August 17, 2013, 11:52:34 PM
 #4

More and more I have no doubt that the only people that will win in this ASIC Rat Race are:

a.  The Company's Selling them(Most of which are deceiving and crooked.  I truly believe most of these companies like BFL are mining with the units and thus the LONG delays in shipping them )
b.  Those that took a gamble last year and already have one(Which I don't believe is that many people actually(10%, if that many, have one, 90% are in the Rat race waiting for one(While more then likely the one their waiting on is mining for the company.  Nice long Burn in   Grin )
c.  Those that are close to getting their Pre Orders BUT ALSO that have a large Pre Order ( 1 TH or more)


Above are the ONLY people that will make any decent money..  The rest of you(Depending on what and from who your purchased) will be LUCKY to break even with VERY little if any ROI..  And a LOT of you wont even break Even..


I came to this realization about 3 days ago when I looked at what I currently have(GPU miner) vs what I had on order..

I cancelled my BFL order(Yes got all my Refunds) and just this week my KNC order(refund Processing..  They seem to be honest)..


The Answer was right in front of my face..   My GPU miner..   (GPU Miners are DEAD... LOL  Well yes they are if you dont know what your doing)

I took my (Soon to be) KNC refund and used less then 40% of that Refund and ordered a Second GPU miner that will also serve as my my PC and Gaming PC(Very High end Gaming PC)  I dont play games much so effect on mining will me small(You can actually play games and still mine if you know what your doing  Wink )

So I will now have 2 GPU miners rigs for a total of right at 3 GH...   Wow you say that will not do anything when it comes to BTC..   And you are 100% correct..  But I wont be mining BTC(Well not directly I mean)

I will be mining Alt Coins that are Automatically Exchanged and converted to BTC.  Been doing this over a month now and with my 1 miner made $200 after Electric taken out(I pay very little for my Electric rate)

With the second miner/Game PC coming this week I will Avg $400 a month Profit..  Yes  not a ton.. But the beauty of the way I am now mining, this $400 per month should be sustainable and even slowly increase for the next 2 or 3 years no matter what the difficulty does to BTC..   (As long as the whole BTC and Alt Coins dont crash which in that case all ASIC miners will be SOL too anyway)  Putting Pen to paper I will make much more doing this over then next 1 to 3 years then I even would with my late to the game ASIC

I am sure I will be flamed BUT in reality this Post should be sicked here..  

Good luck everyone...  
what is the name of the alt currency that you mine, and how do you get it directly exchanged for btc? sounds pretty interesting

Kuroth
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August 18, 2013, 01:39:08 PM
 #5

PM me...

Rannasha
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August 18, 2013, 01:54:45 PM
 #6

More and more I have no doubt that the only people that will win in this ASIC Rat Race are:

a.  The Company's Selling them(Most of which are deceiving and crooked.  I truly believe most of these companies like BFL are mining with the units and thus the LONG delays in shipping them )
b.  Those that took a gamble last year and already have one(Which I don't believe is that many people actually(10%, if that many, have one, 90% are in the Rat race waiting for one(While more then likely the one their waiting on is mining for the company.  Nice long Burn in   Grin )
c.  Those that are close to getting their Pre Orders BUT ALSO that have a large Pre Order ( 1 TH or more)


Above are the ONLY people that will make any decent money..  The rest of you(Depending on what and from who your purchased) will be LUCKY to break even with VERY little if any ROI..  And a LOT of you wont even break Even..


I came to this realization about 3 days ago when I looked at what I currently have(GPU miner) vs what I had on order..

I cancelled my BFL order(Yes got all my Refunds) and just this week my KNC order(refund Processing..  They seem to be honest)..


The Answer was right in front of my face..   My GPU miner..   (GPU Miners are DEAD... LOL  Well yes they are if you dont know what your doing)

I took my (Soon to be) KNC refund and used less then 40% of that Refund and ordered a Second GPU miner that will also serve as my my PC and Gaming PC(Very High end Gaming PC)  I dont play games much so effect on mining will me small(You can actually play games and still mine if you know what your doing  Wink )

So I will now have 2 GPU miners rigs for a total of right at 3 GH...   Wow you say that will not do anything when it comes to BTC..   And you are 100% correct..  But I wont be mining BTC(Well not directly I mean)

I will be mining Alt Coins that are Automatically Exchanged and converted to BTC.  Been doing this over a month now and with my 1 miner made $200 after Electric taken out(I pay very little for my Electric rate)

With the second miner/Game PC coming this week I will Avg $400 a month Profit..  Yes  not a ton.. But the beauty of the way I am now mining, this $400 per month should be sustainable and even slowly increase for the next 2 or 3 years no matter what the difficulty does to BTC..   (As long as the whole BTC and Alt Coins dont crash which in that case all ASIC miners will be SOL too anyway)  Putting Pen to paper I will make much more doing this over then next 1 to 3 years then I even would with my late to the game ASIC

I am sure I will be flamed BUT in reality this Post should be sicked here..  

Good luck everyone...  
what is the name of the alt currency that you mine, and how do you get it directly exchanged for btc? sounds pretty interesting

Sounds like the Middlecoin pool... https://bitcointalk.org/index.php?topic=259649.0
frankenmint
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August 18, 2013, 05:48:09 PM
 #7

SMH and why doesn't doing that to alts on multipools with a KNC miner make sense?  Why wouldn't you even be willing to sell it right back on ebay for a 25% profit because they choose to not mfg them for dec jan months?

BigLad
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August 21, 2013, 08:30:31 AM
 #8

I've been toying with buying a KnC Jupiter.

Though going by TGB the difficulty rise in the last 30 days has been 94% take all the other factors into account and there is no ROI when shipping in Oct (devices shipping in Sept should make a profit)

October Ship - http://mining.thegenesisblock.com/a/62c87c1885
September Ship - http://mining.thegenesisblock.com/a/1efe0bc235

Please tell me that I have done my calculations wrongly and im a n00b as I would really like to start mining, but only if theres something in it for me.  I cba to just do it for fun!

Kuroth, i'm also interested in your approach, would you mind sharing?
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