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Author Topic: Don't buy any miner  (Read 2986 times)
ilpirata79 (OP)
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September 27, 2013, 07:58:17 PM
Last edit: September 30, 2013, 09:42:00 AM by ilpirata79
 #1

Don't buy mining hardware, *at all*. You will never make any profit with it (but lose your money).

By ordering (i.e. PRE-ordering) something, you are just giving your money to the society that produces the hardware (and that will use it to earn money for itself). It will ship only when the miners are not really profitable anymore.

Buy only if you know when you will get what you are paying for! (which means don't buy at all now).

Best regards,
ilpirata79
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September 27, 2013, 08:06:04 PM
 #2

Totally agree with this.  Whoever can do a simple math - can find out mining hardware will NEVER pay for itself if bought for prices that are out there.

People who are aware of that are buying BTC directly hoping it will go up in price.  Even smarter people are probably just watching.
qwk
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September 27, 2013, 08:06:52 PM
 #3

Right.

Leave the network to "somebody else"™

Yeah, well, I'm gonna go build my own blockchain. With blackjack and hookers! In fact forget the blockchain.
Dacm4n
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September 27, 2013, 08:15:53 PM
 #4

Right.

Leave the network to "somebody else"™
Yea not everyone's out trying to make easy money.
ilpirata79 (OP)
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September 27, 2013, 08:36:40 PM
 #5

Right.

Leave the network to "somebody else"™
Yea not everyone's out trying to make easy money.

Yes, sure... do you work for an asics making company?

best regards,
ilpirata79
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September 27, 2013, 08:38:12 PM
 #6

That makes me sad that I didn't get on board 2 years ago.

NEVER GOT PAID.
crocko
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September 27, 2013, 08:44:28 PM
 #7


Don't buy mining hardware, *at all*.

What is your alternative then?

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ilpirata79 (OP)
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September 27, 2013, 09:08:32 PM
 #8


Don't buy mining hardware, *at all*.

What is your alternative then?


There is no alternative. Don't buy those things. Stop.

best regards,
ilpirata79
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September 27, 2013, 09:14:21 PM
 #9


Don't buy mining hardware, *at all*.

What is your alternative then?

Alternative to make some money?
Get a job.  Cheesy

Seriously, if you're into mining to make money, but mining coins is more expensive than just buying coins,
then buying mining-hardware makes little sense, don't you think?
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September 27, 2013, 09:33:11 PM
 #10


Don't buy mining hardware, *at all*.

What is your alternative then?


There is no alternative. Don't buy those things. Stop.
HrHh
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ilpirata79

At least the guy who started a similar thread before you provided a common sense reason: ASICs hurts the planet because they use too much energy.
He was funny.
You aren't.

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ilpirata79 (OP)
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September 27, 2013, 09:37:22 PM
 #11


Don't buy mining hardware, *at all*.

What is your alternative then?


There is no alternative. Don't buy those things. Stop.
HrHh
best regards,
ilpirata79

At least the guy who started a similar thread before you provided a common sense reason: ASICs hurts the planet because they use too much energy.
He was funny.
You aren't.

So what?
Did you read my first post? Did you understand it?

best regards,
ilpirata79

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September 27, 2013, 09:49:18 PM
 #12


Don't buy mining hardware, *at all*.

What is your alternative then?


There is no alternative. Don't buy those things. Stop.
HrHh
best regards,
ilpirata79

At least the guy who started a similar thread before you provided a common sense reason: ASICs hurts the planet because they use too much energy.
He was funny.
You aren't.

So what?
Did you read my first post? Did you understand it?

best regards,
ilpirata79



i couldnt disagree with you more , i just dont have the time to explain . stop with your nonsense please . and no i don't work for an asics company i just understand EXACTLY how this mining works.

Thankyou and good night 
ilpirata79 (OP)
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September 27, 2013, 09:49:56 PM
 #13


Don't buy mining hardware, *at all*.

What is your alternative then?


There is no alternative. Don't buy those things. Stop.
HrHh
best regards,
ilpirata79

At least the guy who started a similar thread before you provided a common sense reason: ASICs hurts the planet because they use too much energy.
He was funny.
You aren't.

So what?
Did you read my first post? Did you understand it?

best regards,
ilpirata79



i couldnt disagree with you more , i just dont have the time to explain . stop with your nonsense please . and no i don't work for an asics company i just understand EXACTLY how this mining works.

Thankyou and good night  

go to sleep please...
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September 27, 2013, 09:57:50 PM
 #14

Sad
Wipeout2097
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September 28, 2013, 12:07:23 AM
 #15

That "any" is rubbish if you don't take into account Mh/$.

If you mean to say that ALL miners for sale today are too expensive, so too low Mh/$ for the current and future difficulty, that's a different issue.

With "never pre-order" I agree 100% though.

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JimboToronto
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September 28, 2013, 04:20:47 AM
 #16

If I can get a few million satoshis per month as a bonus to offset the cost of burning a few kilowatt hours of electricity to heat my home in the winter, why not?

If I can also contribute to the strength of the network, even better.
ilpirata79 (OP)
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September 28, 2013, 08:08:35 AM
 #17

That "any" is rubbish if you don't take into account Mh/$.

If you mean to say that ALL miners for sale today are too expensive, so too low Mh/$ for the current and future difficulty, that's a different issue.

With "never pre-order" I agree 100% though.

I think we agree after all, because my post reflects today's situation, where there is no miner worth buying (pre-orders or too expensive miners).
I don't think something worth buying will appear in future by these asic companies. 
The only maybe viable solution that I see would be to become owner of part of one, if the cost of shares is appropriate.

best regards,
ilpirata79
ilpirata79 (OP)
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September 28, 2013, 08:15:48 AM
 #18

If I can get a few million satoshis per month as a bonus to offset the cost of burning a few kilowatt hours of electricity to heat my home in the winter, why not?

If I can also contribute to the strength of the network, even better.

My post refers to the attempt at making a profit by mining bitcoins. Heating your home in winter is another story.
Regarding the security of the network, it is probably good that different asic companies fight with each other to produce more efficient products. The only thing is that they should do that with their money, not ours.

Best regards,
ilpirata79
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September 28, 2013, 08:17:53 AM
 #19

I got this chart from ...

https://blockchain.info/charts/miners-operating-profit-margin

and see this

https://blockchain.info/stats

Mining does not look profitable at all for newcomers. Miners who have been running and have paid-for equipment can possibly be operating in the black.

NEVER GOT PAID.
qwk
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September 28, 2013, 10:36:10 AM
 #20

If I can get a few million satoshis per month as a bonus to offset the cost of burning a few kilowatt hours of electricity to heat my home in the winter, why not?

If I can also contribute to the strength of the network, even better.

If you thereby strengthen a bitcoin-based economy, no longer just based on speculation against fiat currencies, even better.

Yeah, well, I'm gonna go build my own blockchain. With blackjack and hookers! In fact forget the blockchain.
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