KnC Jupiter for 10.65 BTC

[Caprice]

I've been wanting to get an ASIC miner for some time now. There is this(http://minerdealer.com/product/knc-miner-kncminer-jupiter-bitcoin-miner-550-ghs-new/) Jupiter on sale for 10.65 BTC, worth it? I can get it within 4 days. The sale ends on the 31st of december and I'd really like to make up my mind before it ends.

Also, would mining solo be profitable?

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[DrG]

You will not be able to mine 10 BTC with a Jupiter in the next 6 months.   You would be better off buying BTC on an exchange.

If BTC goes to $10k USD you'll still make money, but again you would make more by buying the coin directly.

Solo mining on a Jupiter would only be profitable compared to pool mining if you happen to solve 1 block in the next few months while you have a chance.  If someone could answer your question about whether it is or is not they could tell the future...

[MANofthePEOPLE]

You will not be able to mine 10 BTC with a Jupiter in the next 6 months.   You would be better off buying BTC on an exchange.

If BTC goes to $10k USD you'll still make money, but again you would make more by buying the coin directly.

Solo mining on a Jupiter would only be profitable compared to pool mining if you happen to solve 1 block in the next few months while you have a chance.  If someone could answer your question about whether it is or is not they could tell the future...

When calculating ROI I think you should also consider resell value, i.e the Jupiter might bring in 7 BTC but when you sell it you get 4 BTC as well.

Just a thought.

[DrG]

You will not be able to mine 10 BTC with a Jupiter in the next 6 months.   You would be better off buying BTC on an exchange.

If BTC goes to $10k USD you'll still make money, but again you would make more by buying the coin directly.

Solo mining on a Jupiter would only be profitable compared to pool mining if you happen to solve 1 block in the next few months while you have a chance.  If someone could answer your question about whether it is or is not they could tell the future...

When calculating ROI I think you should also consider resell value, i.e the Jupiter might bring in 7 BTC but when you sell it you get 4 BTC as well.

Just a thought.

Resale value only depends on:
1) What time you sell it
2) Whether you're able to catch an ignorant/greedy buyer

If he resold it in a week a like-minded person to himself would offer 9 BTC.  If he sold it 6 months from now and it had a lifetime utility of less than 1BTC left you would need to find a big idiot who will pay 4BTC.  Every time a sale occurs there's miner downtime, possible escrow fees, possible shipping fees.  So you only come out ahead on BTC if you find an idiot for lack of a better word.  As long as you're not deceptive there's no problem with that.  Whether you choose to disclose to the person that a 4BTC Jupiter can only earn 1BTC 6 months from now is up to your moral code.

[Francisdoge]

I know I'm missing something really obvious, but according to calculators, a 550 GHS miner will produce ~$5219.66 a month.

10 btc ~ $8000

Even with difficulty going up of course, how is this a bad business ?

[traiz]

I know I'm missing something really obvious, but according to calculators, a 550 GHS miner will produce ~$5219.66 a month.

10 btc ~ $8000

Even with difficulty going up of course, how is this a bad business ?

It depends on your assumptions.
A 550 GH/s miner might produce $5219.66/month at the current difficulty, but the difficulty can go up every 10-12 days.
And that's not counting all the ASIC that's supposed to be released in the near future.

However, you should also consider that everyone in the mining forums have a vested interest in preventing more miners (since it impacts their return).

The question you should ask yourself is whether you can make make back the 10.65 BTC with the Jupiter you are getting.
And whether you're willing to take the risk of something happening to your unit (ie, its defective), or your electrical power (maybe your unit will be what causes your distribution transformer to finally die).

[chuckscap]

Our KNC Jupiter has generated 6.5 BTC since it arrived and we got it set up on 10 Dec.    The difficulty has gone up significantly since we got it and we're only generating .28 BTC a day now at 650 GHs.   It's been a good gamble/investment for us since we're ahead of the game now, but buying one now is riskier due to the difficulty and new miners that are supposed to show up.   My guess is that there won't be any new THs miners out until March, but it's just that a guess.

Good luck!

[jamesc760]

I bought 2 shares in kncminer jupiter groupbuys for 2 btc total, back in June 2013. The jupiters arrived mid-October and has been hashing ever since. I will NEVER see my 2 bitcoins I spent in the groupbuys. I will NEVER participate in any groupbuys or buy any more ASIC miners. You will never see your bitcoins you spend. HODL really is the best thing you can do at this time.