Will a Sep/Oct KNC jupiter ever ROI?

[SquallLeonhart]

Day 1 Jupiter received on October 7th.  (Purchased for $7k)  Mined for 11 days @ 525 Ghs and then sold on Ebay (local pickup) for $8600.   

Jupiters are the best out there and I'm very happy with KNC.  (I have two additional Jupiters hosted by KNC which I'll let ride for 7 months!)

Jealous, I don't understand why people buy it from you for $8600...

[amencon]

in our case the magic number is also 55 btc since at time of purchase of our jupiters bitcoin was at 100,- € and price tag was 5500,- €. interesting to read how much other day 1 owners have mined in the first few days, since knc hosting had a bad start.

we are happy with our purchase.

If I recall correctly the pre-orders had a week to pay to remain in queue for Day1 delivery.  During that week the BTC cost for a Jupiter fluctuated between 55-65 (not including VAT or other costs).  I personally spent 59 BTC and remember being glad I didn't buy a day or 2 before as the cost was a few BTC higher.

I'm fairly certain the customers that will win out the best were the ones that paid 55BTC, mined for a week or 2, then sold the machine for a decent price.

Agreed -  Have you checked out ebay?  Man, the prices for used miners are off the hook.  People are not doing their calculations correctly...they are over paying per GHS.  BFL 60 GHS are going for 1300 - 1450 USD that's 21.7++ per GHS... that doesn't even make sense when you can buy it for .09 BTC  per GHS or under $20 per GHs on

Yeah $20+ per GH is pretty nuts.  Especially so for a BFL unit which at this point isn't even close to the best efficiency any more.

[waltermot321]

in our case the magic number is also 55 btc since at time of purchase of our jupiters bitcoin was at 100,- € and price tag was 5500,- €. interesting to read how much other day 1 owners have mined in the first few days, since knc hosting had a bad start.

we are happy with our purchase.

If I recall correctly the pre-orders had a week to pay to remain in queue for Day1 delivery.  During that week the BTC cost for a Jupiter fluctuated between 55-65 (not including VAT or other costs).  I personally spent 59 BTC and remember being glad I didn't buy a day or 2 before as the cost was a few BTC higher.

I'm fairly certain the customers that will win out the best were the ones that paid 55BTC, mined for a week or 2, then sold the machine for a decent price.

Agreed -  Have you checked out ebay?  Man, the prices for used miners are off the hook.  People are not doing their calculations correctly...they are over paying per GHS.  BFL 60 GHS are going for 1300 - 1450 USD that's 21.7++ per GHS... that doesn't even make sense when you can buy it for .09 BTC  per GHS or under $20 per GHs on

Yeah $20+ per GH is pretty nuts.  Especially so for a BFL unit which at this point isn't even close to the best efficiency any more.

$20 is pretty expensive right now in the market, ASIC is going way cheaper...

[Xelpherpolis]

Yeah 20$ per GH is way too expensive now, you would not make it back with the current diff changes.

[ralree]

Are you guys leaving the default settings on the genesis block calculator again?  130% per month growth - sure, that sustainable forever, no problem.

[fattypig]

Are you guys leaving the default settings on the genesis block calculator again?  130% per month growth - sure, that sustainable forever, no problem.

Actually, 130% is too low, increasing it to 150% would be safer.

[Soros Shorts]

Are you guys leaving the default settings on the genesis block calculator again?  130% per month growth - sure, that sustainable forever, no problem.

Actually, 130% is too low, increasing it to 150% would be safer.

You want to be safe or accurate? One the one hand you do want to avoid making a foolish investment, but on the other hand you don't want to be too conservative in your calculations that you end up never buying a miner even when doing so could have made you a profit.

[joae1975]

2 Jupiters here.  First received Oct. 14th, 2nd on 17th.  Both in afternoon.  Mined 24BTC so far.

[Klubknuckle]

2 Jupiters here.  First received Oct. 14th, 2nd on 17th.  Both in afternoon.  Mined 24BTC so far.

Nice, how much did you pay both for?

[joae1975]

2 Jupiters here.  First received Oct. 14th, 2nd on 17th.  Both in afternoon.  Mined 24BTC so far.

Nice, how much did you pay both for?

Total paid, $14,597.80.  Plus 2 PSU's, 1 surge protector, new router, 50 ft ethernet cord.  I guess ~$15,130 total.  So I have a ways to go for ROI.  About 1/3 way there.  I'm hoarding btw.  US dollar gonna crash ya know.

[high110]

That is what they say about the USD...

[Puppet]

Are you guys leaving the default settings on the genesis block calculator again?  130% per month growth - sure, that sustainable forever, no problem.

Forever, of course not. But there is a reason growth is exponential.  its no coincidence the network hashrate since the first asics has perfectly followed an exponential curve; as almost always, if you see exponential growth there is a feedback loop. Every GH added to the network increases difficulty. Higher difficulty leads to lower mining profitability per GH, which leads to lower market prices per GH (until we approach vendors marginal profitability), which leads to more GH being added to the network.

So how long will it last? until we hit one of two constraints:
- vendors ability to deliver/deploy ever increasing numbers. If that happens growth will become linear rather than exponential.
- we approach marginal profitability, ie it costs more to produce/sell/deploy asic based miners than they are expected to earn in mining revenue over a reasonable time period (=market price or self mining opportunity).

We are very far way from the latter, literally at least one order of magnitude and potentially almost 2 orders of magnitude at todays BTC exchange rate.
As for the former, that one is hard to judge, but Josh boasting of 1000 units shipped in a day (if a similar volume can one day be achieved for Monarchs that could mean 10+ PH per month for BFL alone) and looking at the assembly plant that Hashfast contracted, I dont think widespread capacity constraints are likely to hit us anytime soon either.


So yeah, exponential growth will inevitably stop, but probably much later than you think. I dont see it happening before 100PH at least.

[WastedLTC]

Are you guys leaving the default settings on the genesis block calculator again?  130% per month growth - sure, that sustainable forever, no problem.

Forever, of course not. But there is a reason growth is exponential.  its no coincidence the network hashrate since the first asics has perfectly followed an exponential curve; as almost always, if you see exponential growth there is a feedback loop. Every GH added to the network increases difficulty. Higher difficulty leads to lower mining profitability per GH, which leads to lower market prices per GH (until we approach vendors marginal profitability), which leads to more GH being added to the network.

So how long will it last? until we hit one of two constraints:
- vendors ability to deliver/deploy ever increasing numbers. If that happens growth will become linear rather than exponential.
- we approach marginal profitability, ie it costs more to produce/sell/deploy asic based miners than they are expected to earn in mining revenue over a reasonable time period (=market price or self mining opportunity).

We are very far way from the latter, literally at least one order of magnitude and potentially almost 2 orders of magnitude at todays BTC exchange rate.
As for the former, that one is hard to judge, but Josh boasting of 1000 units shipped in a day (if a similar volume can one day be achieved for Monarchs that could mean 10+ PH per month for BFL alone) and looking at the assembly plant that Hashfast contracted, I dont think widespread capacity constraints are likely to hit us anytime soon either.


So yeah, exponential growth will inevitably stop, but probably much later than you think. I dont see it happening before 100PH at least.

Puppet +1.   

This is gonna be a fun ride...

[Perseus353]

I've mined with a Jupiter for two weeks now, made 12 BTC. Won 18 BTC gambling in the same period, so I'm almost break even!

[joae1975]

I've mined with a Jupiter for two weeks now, made 12 BTC. Won 18 BTC gambling in the same period, so I'm almost break even!

How'd you do that? Gamble that is?

[ar9]

I've mined with a Jupiter for two weeks now, made 12 BTC. Won 18 BTC gambling in the same period, so I'm almost break even!

I don't think this qualifies as a Jupiter breaking even... lol

[johncarpe64]

I've mined with a Jupiter for two weeks now, made 12 BTC. Won 18 BTC gambling in the same period, so I'm almost break even!

Lolz, this has nothing to do with break-even. If you use 18BTC to gamble instead then you have 27 BTC which is more profit then jupiter...!!!

[Perseus353]

I've mined with a Jupiter for two weeks now, made 12 BTC. Won 18 BTC gambling in the same period, so I'm almost break even!

I don't think this qualifies as a Jupiter breaking even... lol

Haha, well. Works for me. I just use very conservative sequences. 

I want to reach 37 BTC to break even on the Jupiter, and then get to 55 to break even on other investments in mining, including 3 cloudhashing platinum contracts, and a BFL Little Single order -- that I could thankfully transfer over to 125 GH BFL hosting order (which should start in Feb).

[Puppet]

Haha, well. Works for me. I just use very conservative sequences. 

I want to reach 37 BTC to break even on the Jupiter, and then get to 55 to break even on other investments in mining, including 3 cloudhashing platinum contracts, and a BFL Little Single order -- that I could thankfully transfer over to 125 GH BFL hosting order (which should start in Feb).

I predict tears.

[Xian01]

Wall draw is always higher than actual used energy due to inefficiencies of the power supplies. 700W draw for 400W used doesn't seem beyond the realm of possibility.