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December 27, 2013, 03:07:27 PM |
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An ASIC is a computer built solely for one reason. In this case it is to run bitcoin mining I assume. You have to look into what the ASIC is for before you buy it. Well, in general you should look into anything before you buy it. The chances of you making much money off an ASIC is minimal. I guess find a pool and start mining, hopefully you can recoup the cost of the ASIC without spending a ton in electricity. Remember to break even you also need to pay off the electricity cost of running the device. This is the reason that GPU mining is so popular right now, most of the alt coins use ASIC resistant technologies like scrypt. When scrypt ASIC's come out, then people will jump ship to another GPU based mining algorithm. The entire point of doing this is to try and keep ASIC's from taking over every single market. Also, ASIC's have very low resale value where something like a GPU or CPU has a moderate to high resale value depending on the demand for that product. Right now almost every high end AMD card is in major demand because of the profit margins people are seeing. In fact, the demand is so high that almost everywhere that sells these cards has increased the cost significantly. However, this increased cost is still manageable for profit margins. Using a profit switching pool like hashcows people have been earning their money back in a month or two, including electricity costs. Sorry you bought something that might be somewhat worthless now. Try asking around on these forums for some advice before you make your next mining purchase.
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