Why release ASIC miners?

[pand70]

We blame the ASIC producers, but it is demand from the mining community that fuels this arms race that we are all in.

Demand can't go down because the asic race is a race against time. It 's not like pre ordering a gpu so you can play your favourite game. Having an asic 2 month later might be the difference between positive roi and not.

This also means that it's a race for the ASIC mining rig manufacturers. If they don't take your money now then then they know you will buy from the company that has product on the market the week before them. Hence the pre-order process which provides lock-in for the vendor. Of course that can mean that you've given your hard earned cash to a bedroom dreamer or a total flake. Some of us will get lucky and back the right horse, but most of us probably won't and will end up staring at expensive piece of kit that will never earn it's purchase price.

I know it's an unpopular view, but the mining community (including me) drive the ASIC manufacturers behaviour as we want absolute certainty, and won't accept any delay to a forecast date. The KNC thread is a great example. Despite everything, they delivered products that largely outperform their estimates and yet there are hundreds of posts complaining about being days (not months) late.

Everything you say is correct except that you don't mention how asic companies price their miners. The only real race between the companies is which one is going to sell first the most overpriced one.

[Sigmoid]

All of you who say one should buy coins instead of mining rigs...

Do you understand what you are saying?

I mean, do you really get it, what you're implying?

Even saying it's a conspiracy of corporations...

Mining IS Bitcoin. The reason Bitcoin operates, exists, is that there is processing capacity allocated to it.

If mining becomes a monopoly, Bitcoin becomes compromised, and thus worthless.

If mining stops, Bitcoin becomes unusable, and thus worthless.

If you do not think it's a good idea to mine, then you should be SELLING your coins asap, because you're saying the roof is coming down, and soon.

[willpower101]

by the time you get your machine, their bitcoins double in price, they make profits.

You can only say this for fact in hindsight. at 1000/btc it's hard to imagine it doubling by March.

I don't like long term predictions for bitcoin but do you believe that anyone was thinking that bitcoin will go from 200$ to 1200$ in one month? Absolutely noone. Even the more bullish among the bulls couldn't have thought of such a rise.

True. But then there is a day like today where BTC drops 30%! Glad I physically couldn't get my money in early this week. Hopefully by next week my LTC miners should be here if people don't stop buying the damn video cards

[pand70]

by the time you get your machine, their bitcoins double in price, they make profits.

You can only say this for fact in hindsight. at 1000/btc it's hard to imagine it doubling by March.

I don't like long term predictions for bitcoin but do you believe that anyone was thinking that bitcoin will go from 200$ to 1200$ in one month? Absolutely noone. Even the more bullish among the bulls couldn't have thought of such a rise.

True. But then there is a day like today where BTC drops 30%! Glad I physically couldn't get my money in early this week. Hopefully by next week my LTC miners should be here if people don't stop buying the damn video cards

Bitcoin dropped 50% or even more actually but what can you do when you have officials like the bank of china saying that bitcoin should not be used as a currency. (Whatever that means anyway)

[CoinGeneral]

by the time you get your machine, their bitcoins double in price, they make profits.

You can only say this for fact in hindsight. at 1000/btc it's hard to imagine it doubling by March.

I don't like long term predictions for bitcoin but do you believe that anyone was thinking that bitcoin will go from 200$ to 1200$ in one month? Absolutely noone. Even the more bullish among the bulls couldn't have thought of such a rise.

True. But then there is a day like today where BTC drops 30%! Glad I physically couldn't get my money in early this week. Hopefully by next week my LTC miners should be here if people don't stop buying the damn video cards

Bitcoin dropped 50% or even more actually but what can you do when you have officials like the bank of china saying that bitcoin should not be used as a currency. (Whatever that means anyway)

https://bitcointalk.org/index.php?topic=178336.msg3872676#msg3872676

[zengryT]

All of you who say one should buy coins instead of mining rigs...

Do you understand what you are saying?

I mean, do you really get it, what you're implying?

Even saying it's a conspiracy of corporations...

Mining IS Bitcoin. The reason Bitcoin operates, exists, is that there is processing capacity allocated to it.

If mining becomes a monopoly, Bitcoin becomes compromised, and thus worthless.

If mining stops, Bitcoin becomes unusable, and thus worthless.

If you do not think it's a good idea to mine, then you should be SELLING your coins asap, because you're saying the roof is coming down, and soon.

Mining is ok, just the ASICs mining equipment is too expensive.

[ngindenkore]

the same thing happened like why ppl make rice machine while they can produce their rice