Yeah the issue here is they're selling October products at August prices. We're paying a fantasy/pipe dream surcharge. As long as we continue to "bid" it up (Not a shot at this thread) they'll continue to make promises and pre-orders to play on speculation. The fact is thousands of usb eruptors sold for 10x their real value thanks to herds of newbie miners coming in and the fact that they actually delivered. Now the real value is coming to light sub $40 a piece (should sell for like $2 really). But this won't change ultimately by the time we get these chips (Oct or Nov) There will be a 5gh chip that sells for the same amount these sold for $25. The few that get in early make money and the others............ Pay for the few that got in early.... Ponzi scheme at it's best... But I, like the OP, do this for hobby and luv the thrill of the chase. So it is what it is. Love it or leave it I for one will wait for the "new and improve chip" and hope to get in early. I got a few of these at the initial price. But like i said before, the first few make the money and the last few make up for the first few. There's a price point that i can see these still making money (Reselling them) but I doubt it will be stay below that the way you guys are bidding these up.
As i said before not a shot at this thread or the OP. He's done a GREAT job and can only work with in the restraints of his suppliers. Just my take on the subject.
Was fine @ $360, but any higher and assuming October delivery, well be lucky if these things even break even at that level considering the 30% diff jump every ~11 days.
Agreed. A few good points there. Thanks for your input Neiq
Basically we are working with what we've got. Trust me, if we could get these out to you tomorrow we would. We are unfortunately entirely dependent on Bitfury getting chips to us. If the early October delivery comes true, there is a good chance that we may just be able to be some of the lucky few who get in early and actually make some money. As Neiq has said, that's how it works, a few people get units early enough to profit, everyone else chases the magical window and doesn't quite get there, or buys in (read block erupter USBs) without ever having a chance at ROI, just because its fun and exciting. Hell i have some of those; terrible investment, but their pretty cool. I also have a giant power munching 3 GH/s GPU rig costing me more than it makes, just because i like it and find it fun.
So i guess yeah, if your main motivation is a sound investment, you'd probably do better to buy shares in a bank or a mining company (as in iron ore mining, not bitcoin).... or, just buy some Bitcoin and hope the price jumps. But if you are excited about being a part of this crazy Bitcoin thing as it's springing into being, and are willing to take a gamble that may pay off, then get a miner, get ten. I too am in it for the thrill of the chase. I do it because i love it. Setting up this group buy and short run manufacture has basically become my unpaid full time job right now, and i'm not complaining, i chose to do it and i'm having fun doing it. If i was billing my hours spent however, i'd be down a whole lot of money.
On that topic, basically we have costed out manufacture that leaves us making very little money. This is not some giant money making venture for us. We would all make a lot more money just doing regular jobs. But that's not the point. There has been some talk about succumbing to the capitalist greed just like BFL and Avalon, who has basically rinsed people for millions of dollars. I find that comparison pretty rogue. In the end we are putting the final miners to auction to generate a bit of extra cash to help us see this project through smoothly. At most we'll end up with a couple grand extra, which could easily disappear into some unforeseen manufacture expense, or import duty or whatever. Hardly capitalist greed at its worst.
The miners are going to auction and people are paying what they are willing to pay. No one is being forced into anything. If you believe that $300 is a more reasonable price for the boards we are making, they were available at that price for weeks, the opportunity was there.
Ok, sorry for the long rant. I hope everyone feels happy and comfortable with things. Please send me a PM if you would like to have anything further explained or discussed.
Yours in Mine Love
Barntech
