BitcoinBarrel (OP)
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Fill Your Barrel with Bitcoins!
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November 21, 2013, 07:01:16 AM |
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So a month ago it was difficult to find a decent Asic for sale on Ebay, and within the past week more and more are being listed.
Jalepenos, Blades, Avalons you name it. Must not be as profitable to mine anymore time to cash out.
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"Bitcoin: mining our own business since 2009" -- Pieter Wuille
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DrG
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November 21, 2013, 07:47:38 AM |
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Because in the next month or so another 5PH is expected to roll out. Clueless buyers may use a calculator with the current difficulty instead of one twice as high. The sellers of said equipment know that they can buy more BTC with the proceeds from the sale than they can mining with it.
Having said that, I abhor the idea of ever returning to the scam that is eBay. The buyer will mine for 30 days, drop a couple of drops of water and file a claim stating item is dead. Sell local on or here.
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madcratebuilder
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November 21, 2013, 01:25:30 PM |
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BTC's hitting $800 didn't help either. asic sticks are back up to $25+ from the low of $6-7. I picked up a pair of 13gh Blades for $190 each, maybe I should sell them.
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bitcoinhost
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November 21, 2013, 01:34:35 PM |
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yea don't mine.. buy coins instead  |
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chirale
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November 22, 2013, 12:48:03 AM |
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Another possibility is that people is mining other SHA-256 based crypto-currency with the "first generation" of ASICs?
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DrG
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November 22, 2013, 03:10:16 AM |
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Another possibility is that people is mining other SHA-256 based crypto-currency with the "first generation" of ASICs?
All the SHA256 coins are less profitable than BTC. It would be better to mine BTC and convert it to the alt-currency if you suspected that those currencies had a better chance of increased valuation vs BTC in the future, but then again people hate to do the extra steps... |
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bitmarket.io
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November 22, 2013, 07:17:02 AM |
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So a month ago it was difficult to find a decent Asic for sale on Ebay, and within the past week more and more are being listed.
Jalepenos, Blades, Avalons you name it. Must not be as profitable to mine anymore time to cash out.
Simple. Because more and more of them are becoming obsolete. Everyone's racing to ditch them to recover their cash investment to either a) purchase bitcoins, b) purchase the next gen miner, or a & b. |
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CrashX
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November 22, 2013, 08:03:31 AM |
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Because in the next month or so another 5PH is expected to roll out. Clueless buyers may use a calculator with the current difficulty instead of one twice as high. The sellers of said equipment know that they can buy more BTC with the proceeds from the sale than they can mining with it.
Having said that, I abhor the idea of ever returning to the scam that is eBay. The buyer will mine for 30 days, drop a couple of drops of water and file a claim stating item is dead. Sell local on or here.
LOL That's funny... I've done that... Guilty if you charge me... |
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PenAndPaper
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November 22, 2013, 08:12:40 AM |
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The buyer will mine for 30 days, drop a couple of drops of water and file a claim stating item is dead. Sell local on or here.
And why would he do that? Does ebay checks physically if something is broken? |
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DrG
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November 22, 2013, 11:34:19 AM |
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The buyer will mine for 30 days, drop a couple of drops of water and file a claim stating item is dead. Sell local on or here.
And why would he do that? Does ebay checks physically if something is broken? The seller will get back dead mining equipment, nobody will argue that it's dead. eBay always sides with buyer (can't you tell I'm a spiteful previous eBay seller). eBay has no ethics and I make the assumption that everybody on there is out to scam. Save the headache and sell on here and use an escrow... unless you like headaches. |
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zvs
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https://web.archive.org/web/*/nogleg.com
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November 22, 2013, 02:59:53 PM |
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to someone with 5 feedback, could be all shills for all we know i would damn the ebay rules and sell it to that 2nd fellow with 2400 feedbacks |
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zvs
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https://web.archive.org/web/*/nogleg.com
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November 22, 2013, 03:03:03 PM |
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The buyer will mine for 30 days, drop a couple of drops of water and file a claim stating item is dead. Sell local on or here.
And why would he do that? Does ebay checks physically if something is broken? The seller will get back dead mining equipment, nobody will argue that it's dead. eBay always sides with buyer (can't you tell I'm a spiteful previous eBay seller). eBay has no ethics and I make the assumption that everybody on there is out to scam. Save the headache and sell on here and use an escrow... unless you like headaches. Beh, you don't have to destroy the equipment... you'd still get your money back from paypal regardless. I suspect since I've never done a paypal reversal from an eBay auction (registered since '99 & 350+ feedbacks) I could buy any of those miners listed.... open up some dispute process claiming that I didn't receive what was listed in the description (htf would they know?) & stall quite a bit on return shipment & replies etc. i imagine you have several weeks, eh? |
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Zaghomat
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November 22, 2013, 04:07:18 PM |
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I'm not sure that would work. I sold a miner on ebay 1 months ago, the buyer paid with paypal and the money was in my bank account 2 days later. Now there is no way for paypal to get the money back, at worst they close your account but who cares?
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PenAndPaper
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November 22, 2013, 04:10:13 PM |
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The buyer will mine for 30 days, drop a couple of drops of water and file a claim stating item is dead. Sell local on or here.
And why would he do that? Does ebay checks physically if something is broken? The seller will get back dead mining equipment, nobody will argue that it's dead. eBay always sides with buyer (can't you tell I'm a spiteful previous eBay seller). eBay has no ethics and I make the assumption that everybody on there is out to scam. Save the headache and sell on here and use an escrow... unless you like headaches. Beh, you don't have to destroy the equipment... you'd still get your money back from paypal regardless. I think he means to do it to avoid a negative feedback  |
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NetTime
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November 22, 2013, 05:46:39 PM |
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I'm not sure that would work. I sold a miner on ebay 1 months ago, the buyer paid with paypal and the money was in my bank account 2 days later. Now there is no way for paypal to get the money back, at worst they close your account but who cares?
There is, they will pull it back from your bank, use your other funding sources on the account (CC, etc. if you have them attached), and if they can't get it from any of those it'll get sent to collections. PayPal f'n sucks. |
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NoobCoin007
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November 22, 2013, 06:06:11 PM |
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So I am confused. So I shouldn't have started mining?
I got my equipment pretty cheap back in the middle of this month when Bitcoin was worth about $400. Now with the prices rising, my equipment is going to be paid off within a month. Hear I though that was good. The difficulty only raised by 1 since I have had it, but the price of Bitcoin has raised nearly 50%. Even with that 550gh if difficulty does rise to about 9 or 10 within the next couple of months it seems like it would still be paid off within 2 or 3 months. I just don't get it. Is there something I am missing?
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pontiacg5
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November 22, 2013, 06:11:15 PM |
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So I am confused. So I shouldn't have started mining?
I got my equipment pretty cheap back in the middle of this month when Bitcoin was worth about $400. Now with the prices rising, my equipment is going to be paid off within a month. Hear I though that was good. The difficulty only raised by 1 since I have had it, but the price of Bitcoin has raised nearly 50%. Even with that 550gh if difficulty does rise to about 9 or 10 within the next couple of months it seems like it would still be paid off within 2 or 3 months. I just don't get it. Is there something I am missing?
Yes, You could have bought 550gh/s of bitcoins instead of the miner. You would have had more bitcoins than you'd ever eventually mine, and since you still assume the price will rise you would have made more money. Difficulty doesn't raise by 1, it raises by a percentage. Every two weeks I'd expect to make 25-40% less coins than the week before, possibly more, probably less. |
Please DO NOT send me private messages asking for help setting up GPU miners. I will not respond!!!
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NoobCoin007
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November 22, 2013, 06:27:29 PM |
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You're right. I keep forgetting about that. However, I see mining a way as making "free" money. I mean hey all I am doing is leaving my miner on while I go out to eat. However, the same could be said just buying instead. I can imagine how somebody that is doing both is getting.
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BlackShadow
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November 22, 2013, 06:29:15 PM |
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One thing I have noticed on ebay is that there are tons of people bidding on mining equipment from people that have 0 feedback WAKE UP PEOPLE! YOU WILL BE SCAMMED! I cant believe the amount of bids people with no feedback are getting on this equipment. Do they actually think it is worth the gamble sending $8000+ to unknown sellers? And one other thing I noticed is people are selling preorders for equipment they dont even have yet? How does that work would the winning bidder send the money when auction is done and wait however long till the original purchaser recieves it?
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