STOP!!! Do not buy that new ASIC ! And here's why...

[patnor1011]

LOL this is like on Wall Street, everyone want ROI in 2 days, week at most which is - funny.
No pain no gain, you have to spend money to make money.
I am perfectly happy to have ROI back in 2-3 months, even 4. Still better than countless of people waiting over year for BFL asics and when they come out, in few months they slowly become relics.
Still safer to buy KnC machine than any one of tens of bfl jalapeno currently on ebay.

[ScryptAsic]

LOL this is like on Wall Street, everyone want ROI in 2 days, week at most which is - funny.
No pain no gain, you have to spend money to make money.
I am perfectly happy to have ROI back in 2-3 months, even 4. Still better than countless of people waiting over year for BFL asics and when they come out, in few months they slowly become relics.
Still safer to buy KnC machine than any one of tens of bfl jalapeno currently on ebay.

Err, most miners can't ROI for the lifetime of the machines. Based on the calculator.

[j68r]

I am perfectly happy to have ROI back in 2-3 months, even 4.

Not gonna happen.

[patnor1011]

KnC smaller unit will break even in less than 2 months, if difficulty increase it might be 3-4 months. I dont know what you talk about.

[Trongersoll]

hmmm... a thought. if people stopped mining and just bought Bitcoins instead, the demand for Bitcoins would go up causing the exchange rate to go up. So people who no longer mine may still be trying to get people to stop mining for their own profit.

[patnor1011]

I am perfectly happy to have ROI back in 2-3 months, even 4.

Not gonna happen.

Sure not. Your wisdom is duly noted. You must be one of BFL pre-order customers or simply do not have money for investment.

[waltermot321]

I am perfectly happy to have ROI back in 2-3 months, even 4.

Not gonna happen.

Sure not. Your wisdom is duly noted. You must be one of BFL pre-order customers or simply do not have money for investment.

So you are the few lucky one eh? Well most people didn't ROI...

[VonIobro]

hmmm... a thought. if people stopped mining and just bought Bitcoins instead, the demand for Bitcoins would go up causing the exchange rate to go up. So people who no longer mine may still be trying to get people to stop mining for their own profit.

Actually I want to use the bitcoins I bought a while ago to purchase a miner, or at least shares in a miner. Is that the same thing?

[waltermot321]

hmmm... a thought. if people stopped mining and just bought Bitcoins instead, the demand for Bitcoins would go up causing the exchange rate to go up. So people who no longer mine may still be trying to get people to stop mining for their own profit.

Actually I want to use the bitcoins I bought a while ago to purchase a miner, or at least shares in a miner. Is that the same thing?

Kinda same, but share is higher in risk as in you have to pay for their management fee too...

[patnor1011]

Not really, his point here is that people who are mining already want other people to stop mining and invest in bitcoin to drive price higher. Guess from who they are supposed to buy those bitcoins? Its easy, from the same guys who advise others to stop mining LMAO.
Every price increase in bitcoin will only attract few thousand people to try mining. If they want to make some profit they do have to have the newest toy in the town otherwise they cant even see ROI on whatever is selling for some time.
Like those usb miners or bfl or avalon miners, while they were good for first few hundred owners after just 3-4 months they are obsolete pieces of machinery. In mining it is no longer about peaceful mining, it is a race for newest toys and fastest utilization of those.
Bitcoin mining moved to predatory stage when one eat another alive and only fittest will survive. Like people with capital to spend.
This is going to benefit people who are in mining from start or significantly longer than those who come only recently. While newcomers need to spend hard cash, ole day miners just invest part of their revenue they generated long time ago.

[high110]

So then where do you go from here?  As a new comer myself, I do realize the majority of the profits are gone to the early adopters, but I want to mine.  Blah...take it as a hobby and mine at a loss I guess?  Or wait for the next round of shinny toys and buy!

[patnor1011]

It depend if you can take risk.
People who took risk ordering from bfl about a year of empty promises and obsolete machines delivered - that is what you call bad investment, on the other hand some other investments were better.
I would definitely go for new toy in the town if I like it. And with all that shared mining? I like when I control my money and when they work for me. I would go for shared mining only if I will be setting one up, that mean I do not want my money work for me, at maximum available profit.
Bitcoin mining is not (and never was) fun for poor people. Even with cpu mining you had to have pc, electricity and internet connection.

[amencon]

KnC smaller unit will break even in less than 2 months, if difficulty increase it might be 3-4 months. I dont know what you talk about.

You get less GH/$ for the smaller units, and even the Jupiter will almost certainly not break even.  Could you show your work on how a KNC smaller unit is supposed to break even in less than 2 months?

[patnor1011]

Dude, I am talking about people who already have them. And even if you get one today it will break even, do the math it is really simple.

[Kenshin]

Dude, I am talking about people who already have them. And even if you get one today it will break even, do the math it is really simple.

The Jupiter miner can break even within a few weeks. I got 4 of these monsters. 

When these monsters milk out all the btc, I will be upgrading to a few CoinTerra 2TH/s, and then sell my Jupiter, once they arrive. 

[patnor1011]

This is what I am talking about.
Btc mining is not for undecided weak people.
One step ahead and be able to lick wounds and go ahead.
You cant do it from borrowed or last money you have.

[sheebang]

you forgot to take into account that a lot of people like to bet on the difficulty rise slowing down a bit.  Difficulty can't rise like this forever, eventually it levels off a bit and those are the miners who will profit nicely

Sorry the slow part is over. Pre-orders are out until march netx year and it would mean that the por guys in production get obsolete. instead together with the pool Operators they will recruit more money as they did in the last two or three years.

[high110]

Cex.io is getting expensive...it's about 20/GHS right now.  I ended selling my GHS and cashing out - good thing I bought cheap and made some money =)

[waltermot321]

Cex.io is getting expensive...it's about 20/GHS right now.  I ended selling my GHS and cashing out - good thing I bought cheap and made some money =)

Nice, I am also waiting for the price to drop until a profitable level.

[cassieheart]

  This thread made me purchase 10 more v3 block erupters on Bitmit!
                         Thank you OP.