Addicted to hardware?

[Slander]

My guess is that the original post probably summed up things for a lot of people. I too am addicted to hardware and have infected 3 other people. Now I get instant messages all day from them 'how do I do this? 'whats this mean?' they are friends so its fun.

[J_Dubbs]

Nope, I have definitely NOT made the money back.

But, I have been enjoying the tinkering, keeping the miners going, learning a lot, communicating with some knowledgeable people here.

But, I did get the wife on board when I told her to go do her Christmas shopping with computer generated cash. That was a mistake. LOL.  

It's crazy but this venture into mining helped me score an A in my MBA Econ class. Basically, whenever short on examples from my career, I would just use BTC mining for applying concepts, and it worked out great! Over 14 years investing in stocks and it was never "fun" the way this is, and the people are fun to chat with, and I learned a ton about hardware and networking. Not to mention, the mining equip is always a good conversation piece when friends stop over.

My guess is that the original post probably summed up things for a lot of people. I too am addicted to hardware and have infected 3 other people. Now I get instant messages all day from them 'how do I do this? 'whats this mean?' they are friends so its fun.

I've got one friend who wanted to be infected, but his wife was too skeptical lol... I could just tell she ain't gonna let him go there with the dollars. He'd ask a question, she'd give him "the look"

[NecroBones]

I think it was the idea that you are pretty much printing money. It seems like you guys made all your money back on the Initial investment and is just riding the waive. Nice to hear that I just wish I jumped in at the same time you guys did. Now you need like 10000 just to make a dent. Shoulda woulda coulda.

I too wish I looked into all of this a year ago, or even 6 months ago. I just started in December, and it's too late. I know I'll never get a positive ROI on the gear I'm picking up. So I'm treating it like a flat-out expenditure on computer hardware.

I've got one friend who wanted to be infected, but his wife was too skeptical lol... I could just tell she ain't gonna let him go there with the dollars. He'd ask a question, she'd give him "the look"

I'm getting that "look" too. So I'm watching my spending. Heh.

[J_Dubbs]

I think it was the idea that you are pretty much printing money. It seems like you guys made all your money back on the Initial investment and is just riding the waive. Nice to hear that I just wish I jumped in at the same time you guys did. Now you need like 10000 just to make a dent. Shoulda woulda coulda.

I too wish I looked into all of this a year ago, or even 6 months ago. I just started in December, and it's too late. I know I'll never get a positive ROI on the gear I'm picking up. So I'm treating it like a flat-out expenditure on computer hardware.

I've got one friend who wanted to be infected, but his wife was too skeptical lol... I could just tell she ain't gonna let him go there with the dollars. He'd ask a question, she'd give him "the look"

I'm getting that "look" too. So I'm watching my spending. Heh.

Your thinking of ROI is flawed, it is a trailing measure, not something to be used for projections of profit. I believe for all of us the deciding factor will be the underlying valuation of BTC at a future date, regardless of when you started mining if it goes to $10k we all will be winners, and $0, well you get the point...

[Quix]

Your thinking of ROI is flawed, it is a trailing measure, not something to be used for projections of profit. I believe for all of us the deciding factor will be the underlying valuation of BTC at a future date, regardless of when you started mining if it goes to $10k we all will be winners, and $0, well you get the point...

It's not "a future date" it's whenever you happen to cash out. If you never cash out then you'll never know if you have any returns. If you happen to cash out the day before it all crashes to $0 your ROI is going to be a lot better than the next guy who doesn't. The Bitcoin market is so unstable it's really impossible to know what's going to happen. Never paying back your expenses is a real possiblity, as is making a tidy profit. The whole thing is crazy, which is why I'm just sticking my toe in for fun and not diving in.

[chadgroover]

I'm pretty new to mining in general, but can definitely see myself joining a local HA chapter someday soon!

For me it's more the gadget factor/tinkering side of things that I love - I've got a Pi mining away at the moment with 3 Antminer U1s, and will have a go at soldering an LCD display for it later (if you don't see any future posts from me, it probably went horribly wrong!!!)
To be honest, I'd probably invest a hell of a lot more than I already have, but my GF insists on turning every switch in the house off at the wall before we leave every morning (borderline OCD!), so I'd only really get 12 hours a day mining time from any hardware, which would obviously kill any potential ROI...

[jbbasics]

I think I am realizing that addiction is starting to set in for me... Split a cube with a buddy a few weeks ago.. Then bought 1 solo... Then another. Looked at ants a thousand times... More cubes... Every preorder available. I am trying to pull myself back. I am starting to get the feeling that I can't keep up with the difficulty. I know this should be treated as a hobby... For now... But it is hard to stop this bug. I check on the cubes more than my kids. I really enjoy it but where does it stop? I feel way behind the curve at only 115ghash. I've been back an forth on multiple preorders for Th/s. I'm right there with u. I'm at work and thinking about mining won't let me focus on my actual job!

[J_Dubbs]

Your thinking of ROI is flawed, it is a trailing measure, not something to be used for projections of profit. I believe for all of us the deciding factor will be the underlying valuation of BTC at a future date, regardless of when you started mining if it goes to $10k we all will be winners, and $0, well you get the point...

It's not "a future date" it's whenever you happen to cash out. If you never cash out then you'll never know if you have any returns. If you happen to cash out the day before it all crashes to $0 your ROI is going to be a lot better than the next guy who doesn't. The Bitcoin market is so unstable it's really impossible to know what's going to happen. Never paying back your expenses is a real possiblity, as is making a tidy profit. The whole thing is crazy, which is why I'm just sticking my toe in for fun and not diving in.

I mean traditionally, ROI is not a metric used for projections, only on these forums, and it's incorrect. ROI happens the moment you plug in, it is measured as a ratio, and is negative when you are not profitable. Even if negative, it's still considered the level of "ROI". Also, many of us are buying only the initial investment in USD, and subsequent purchases are made with BTC. At that point, to achieve positive ROI on units bought with BTC we are trying to clear the number of BTC spent, exchange is important but not necessary for ROI calculations. "ROI" and academics can be discussed endlessly here, but what we ultimately all can agree on is that we are seeking profits as the reward for our strategic decisions.

[cdogster]

Hello Hashaholics Anonymous,

My name is CDogster and I am addicted to hashing hardware.  It has been less than 1 second since my last hash and I will likely be hashing again in the next second.  I am currently hashing at 50 GH/s and the bitcoin gateway currency has led me to begin hashing in litecoin.  With merged mining of namecoin, I expect no end to my addiction and will likely dabble in the other cyrpto currencies.

How much is the fee for Hashaholics Anonymous and can I pay in bitcoin?

Sincerely,
CDogster

[NecroBones]

I mean traditionally, ROI is not a metric used for projections, only on these forums, and it's incorrect. ROI happens the moment you plug in, it is measured as a ratio, and is negative when you are not profitable. Even if negative, it's still considered the level of "ROI". Also, many of us are buying only the initial investment in USD, and subsequent purchases are made with BTC. At that point, to achieve positive ROI on units bought with BTC we are trying to clear the number of BTC spent, exchange is important but not necessary for ROI calculations. "ROI" and academics can be discussed endlessly here, but what we ultimately all can agree on is that we are seeking profits as the reward for our strategic decisions.

Yes, that's why I said "positive ROI" when I brought it up. I'm not expecting my hardware to pay for itself in dollars anytime soon.

[J_Dubbs]

I mean traditionally, ROI is not a metric used for projections, only on these forums, and it's incorrect. ROI happens the moment you plug in, it is measured as a ratio, and is negative when you are not profitable. Even if negative, it's still considered the level of "ROI". Also, many of us are buying only the initial investment in USD, and subsequent purchases are made with BTC. At that point, to achieve positive ROI on units bought with BTC we are trying to clear the number of BTC spent, exchange is important but not necessary for ROI calculations. "ROI" and academics can be discussed endlessly here, but what we ultimately all can agree on is that we are seeking profits as the reward for our strategic decisions.

Yes, that's why I said "positive ROI" when I brought it up. I'm not expecting my hardware to pay for itself in dollars anytime soon.

Touché, must've missed that... Meanwhile, the entire rest of this board molests the term on a daily basis lol...

[NecroBones]

Touché, must've missed that... Meanwhile, the entire rest of this board molests the term on a daily basis lol...

No worries.   lol

[grumpy619]

Would you guys want a shirt that said HAASHAHOLICS ANONYMOUS? I'm trying to get into the game and all I have to offer is to make you guys some cool shirts hahah.

[chadgroover]

Would you guys want a shirt that said HAASHAHOLICS ANONYMOUS? I'm trying to get into the game and all I have to offer is to make you guys some cool shirts hahah.

Could be taken totally the wrong way... 

[crazyates]

Would you guys want a shirt that said HAASHAHOLICS ANONYMOUS? I'm trying to get into the game and all I have to offer is to make you guys some cool shirts hahah.

Could be taken totally the wrong way... 

LOL I totally woulda bought one too if you hadn't said that.

[lightfoot]

You have a good point here: The mining bug is really seductive.

I started mining with a 5gh Jalapeno on 1-September, mined a bitcoin, then started tweaking it and such to get to bitcoin 2. After that the price of bitcoin exploded, and I started really fiddling.

How I have been slaking this thirst is by only buying new miners with Bitcoin, and trying to only buy things that will give a positive return from mining.thegenesisblock.com. The big thing has been BFL chips; I can get a 100% return on investment by buying them for .05btc, installing them, and I will get .1btc back per chip.

And I bought a pair of jalapenos from BFL for $400, then promptly upgraded them to 28gh units with extra chips. They will easily ROI, even at current levels.

It's resulting in my mining area looking like a web of wires, but it is keeping me interested in mining. But man I have serious temptations to buy stuff on Ebay. Just got to keep reminding myself that the right way to do it is to use one's brains and not just toss money into the hole.

C

Currently hashing 160gh with two 28gh jallies, two 20gh jallies, two 16gh jallies, a 35gh chili, and a block erupter. Fun stuff.

[grumpy619]

God stuff. Is it just me or is the idea of possibly making money just as addictive? I got into the game late and got burnt by bad choices. Nothing to crazy but still got burnt. I was able to recoup some monies. Then came along a 210 GH/s rig priced at 2050 and it was over. The part of my brain that likes the idea of possibly making mony took over. Now at the moment have only 10GH\s blade making me .01 btc every 3 days. But the idea of making money with the rig that will be here in 4 days keeps me optimistic. I know I will not get rich but at least I dabbled in it. O and spend your coins and be a BITCOIN avangilist the more people that know the bigger it will grow.

[NecroBones]

I'm trying really hard to keep my level of participation in this whole BTC thing at the "dabbling" or "hobby" level. It's so very tempting to jump on some of the larger 200+ G/s units, and pre-orders, and so on... but I know the wife-aggro would be immense. Still, I'm already spending more on hardware than I set out to, and do indeed have a pre-order waiting.

[iglasses]

Dam...thought this thread was offering up hardware @ good price point.

[kfactor]

... but I know the wife-aggro would be immense ...

Bwahahaha ... I feel your pain