PSA: Do NOT buy Bitfury BF1 USB Miner - It will not ROI.

[integrity42]

They are selling for 2.1 to 2.5 BTC each.

They will not ever make back more then 1 BTC.

Bitfury will laugh all the way to the bank at all the idiots why buy this.

http://www.btcinvest.net/bitcoin-mining-profit-calculator.php?diff=86933017.771194&dcosts=320&diff_mincrease=25&blpbtc=25&dhsmhs=2500&diff_mincreasedecrease=3&btcusd=127.38&dpowcon=5&btcusd_mincrease=1&pcost=0.15&calcweeks=32&dleadtime=0&action=calc

[Bicknellski]

They are selling for 2.1 to 2.5 BTC each.

They will not ever make back more then 1 BTC.

Bitfury will laugh all the way to the bank at all the idiots why buy this.

http://www.btcinvest.net/bitcoin-mining-profit-calculator.php?diff=86933017.771194&dcosts=320&diff_mincrease=25&blpbtc=25&dhsmhs=2500&diff_mincreasedecrease=3&btcusd=127.38&dpowcon=5&btcusd_mincrease=1&pcost=0.15&calcweeks=32&dleadtime=0&action=calc

I wish I could laugh all the way to the bank.

Again do your math and decide no one is forcing anyone to buy the RedFury. We stated our price we are happy to sell we are happy to mine either way the product is available if you want it. No one in the COOP is trying to teabag you on prices we won't be making a huge amount on these miners given the initial investments we have made. If you have any concerns feel free to post them in the thread we started on sales. We have openly discussed our cost per unit and explained our prices.

I find this sort of post par for the course when people do not bother to read.

[erk]

They are selling for 2.1 to 2.5 BTC each.

They will not ever make back more then 1 BTC.

Bitfury will laugh all the way to the bank at all the idiots why buy this.

http://www.btcinvest.net/bitcoin-mining-profit-calculator.php?diff=86933017.771194&dcosts=320&diff_mincrease=25&blpbtc=25&dhsmhs=2500&diff_mincreasedecrease=3&btcusd=127.38&dpowcon=5&btcusd_mincrease=1&pcost=0.15&calcweeks=32&dleadtime=0&action=calc

It's not so much that it won't ROI, it's just not a good hardware deal, I can get 6 block erupter sticks and a USB hub to suit for half the price they are asking!

That's an awful lot more hardware value than just one thumb at 2.1BTC+

The Bitfury chips are vastly more efficient than the BE chips so there is a power saving to be made, that's about it.

[kendog77]

This is their first batch, so give them a break. No-one is forcing you to buy these.

They have a great product, so I am hopeful that future batches will be more competitive from a price standpoint.

[integrity42]

Looks like you guys didn't do enough math when purchasing from bitfury -- you overpaid for chips.  Even at $130 just for the chips, they will never ROI

http://www.btcinvest.net/bitcoin-mining-profit-calculator.php?diff=86933017.771194&dcosts=320&diff_mincrease=25&blpbtc=25&dhsmhs=2500&diff_mincreasedecrease=3&btcusd=127.38&dpowcon=5&btcusd_mincrease=1&pcost=0.15&calcweeks=32&dleadtime=0&action=calc

Better plug them all in ASAP and mine with them as fast as you can.  You should also consider lowering the price to 1BTC now , because you will be stuck with useless hardware that will never ROI in a few months and then they'll be worth 0.1BTC...... get rid of this useless inventory asap.

I'm doing you and buyers a favor with this post... change the price to a reasonable amount where there might be even a small possibility of ROI for buyers, and get rid of some of your inventory at the same time.  Inventory will kill you in this game.

Sorry,... I've seen too many people lose money by buying friedcats 10Gh Blades, and USB eruptors without realizing they will never ROI.

[Bicknellski]

This is their first batch, so give them a break. No-one is forcing you to buy these.

They have a great product, so I am hopeful that future batches will be more competitive from a price standpoint.

Always a silver lining.

This "backlash" is clearly being managed from some sort of SHADY HQ... in the middle of some flat part of the planet.

[Akka]

they will never ROI.

ROI is not a verb  

[erk]

they will never ROI.

ROI is not a verb  

It is actually. Return On Investment and Return is a verb.

[nwoolls]

This seems like a pretty unfair topic. I know you are just trying to warn potential buyers who haven't done their homework, but really...

"Do NOT buy any ASIC miner if you are looking for a guaranteed ROI" - FTFY

[erk]

This seems like a pretty unfair topic. I know you are just trying to warn potential buyers who haven't done their homework, but really...

"Do NOT buy any ASIC miner if you are looking for a guaranteed ROI" - FTFY

There is probably a lot of truth to that, ASICs are not looking profitable atm. unless you can get them for about $20/GH/s or less delivered in the next month or two. The net hash got very close to 1 PH/s this week, probably pass it in the next peak.

[Flying Hellfish]

ROI =/= break even point.

I'm sure ROI is the most commonly misused phrase in the mining sub forum.

[Bicknellski]

they will never ROI.

ROI is not a verb  

The Grammar Nazi +1. LOL.

[integrity42]

This is their first batch, so give them a break. No-one is forcing you to buy these.

They have a great product, so I am hopeful that future batches will be more competitive from a price standpoint.

Always a silver lining.

This "backlash" is clearly being managed from some sort of SHADY HQ... in the middle of some flat part of the planet.

This isn't about a great product. This is about money. If Big Picture Mining is telling the truth -- that they paid $130 per chip, it means that after manufacturing costs they are probably at $150.  (If you look at the average bitcoin exchange rate over the last little while, we can ballpark that these cost around 1.0-1.5 BTC to make... Lets say 1.0 on the low side to be very conservative.)

From a business standpoint things aren't looking good -- The manufacturer paid more to make these then they will ever get back mining from them. They will likely return 0.85BTC or less in their lifetime.

The only chance the manufacturer has to make money, is to start selling inventory very quickly and get rid of hardware that is quickly depreciating with each difficulty jump.  If they price at 2.5 BTC, they will get hundreds of people posting "LOL, overpriced." and they will sell 0 units.

If they price appropriately, then they might have a chance to get rid of inventory that has already taken at a loss and has to be written down.

I urge the manufacturer to consider dropping the price to prevent a loss.  Shipping a bunch of product at the right price will also be good PR for them, if they deliver on time they will get a large support base of customers.

P.S.  My consulting services are available to all other manufacturers who are thinking about selling hardware.

[kendog77]

This seems like a pretty unfair topic. I know you are just trying to warn potential buyers who haven't done their homework, but really...

"Do NOT buy any ASIC miner if you are looking for a guaranteed ROI" - FTFY

There is probably a lot of truth to that, ASICs are not looking profitable atm. unless you can get them for about $20/GH/s or less delivered in the next month or two. The net hash got very close to 1 PH/s this week, probably pass it in the next peak.

I'm not even sure the 400 GH October BitFury units will ever ROI in BTC at 20$/GH if they don't ship until late October. There seem to be very few ASICs mining purchases right now that look reasonable.

[jspielberg]

One can always solo mine and hope that variance is to your benefit.  Though I think most folks lack the patience to wait months for a block.

[RoadStress]

They are selling for 2.1 to 2.5 BTC each.

They will not ever make back more then 1 BTC.

Bitfury will laugh all the way to the bank at all the idiots why buy this.

http://www.btcinvest.net/bitcoin-mining-profit-calculator.php?diff=86933017.771194&dcosts=320&diff_mincrease=25&blpbtc=25&dhsmhs=2500&diff_mincreasedecrease=3&btcusd=127.38&dpowcon=5&btcusd_mincrease=1&pcost=0.15&calcweeks=32&dleadtime=0&action=calc

Why don't you let people do what they want with their money? If they have more than 18 or 21 years everyone is free to take their own decisions as they wish

[eneloop]

I don't think any product will achieve a lot more than break-even. It's quite the opposite, we have to hope it will break-even ever.
Why? -> No manufactor will sell any kind of money printing machine if they expects more gain from using themselve. Their selling price is what they expect to mine with + a bit more.

Bitfury delivered more or less in time but they are quite the same! We are just lucky we got 2 h-boards instead of 1 because of their failure. If we got just one single h-board (25 GH/s) nobody will have a chance to achieve break-even ever.
There are 2 winners only: manufactors and resellers

[Bicknellski]

One can always solo mine and hope that variance is to your benefit.  Though I think most folks lack the patience to wait months for a block.

You have faith...

[GodHatesFigs]

This seems like a pretty unfair topic. I know you are just trying to warn potential buyers who haven't done their homework, but really...

"Do NOT buy any ASIC miner if you are looking for a guaranteed ROI" - FTFY

More like, only buy these if you want a guaranteed loss!

[Operatr]

They are selling for 2.1 to 2.5 BTC each.

They will not ever make back more then 1 BTC.

Bitfury will laugh all the way to the bank at all the idiots why buy this.

http://www.btcinvest.net/bitcoin-mining-profit-calculator.php?diff=86933017.771194&dcosts=320&diff_mincrease=25&blpbtc=25&dhsmhs=2500&diff_mincreasedecrease=3&btcusd=127.38&dpowcon=5&btcusd_mincrease=1&pcost=0.15&calcweeks=32&dleadtime=0&action=calc

It isn't their fault that mining is currently unprofitable unless you throw down a big heap of investment capital up front. The units cost what they cost to produce, end of story. If you don't like it then don't buy any. There is no need for a flame thread because you can't comprehend this.