Hey guys,
I was hoping you could help me with an idea I have. I have been following new scrypt asics for a while now, nearly buying a miner a few times. Now I was wondering(attempting to justify) buying a new miner and thought what if I divested 50% of HBN position to buy a miner and then pointed it at the multi pool to be paid out in HBN daily.
My question is wouldn't this increase the value of my other 50% HBN investment because the muli-pool would be buying HBN in the market to pay me? So I would not only be making a ROI through HBN mined but also increasing the price of my remaining position?
Also if we all agreed to buy miners together for the multi pool wouldn't this substantially increase the value of HBN as well?
Note: this is assuming I buy the latest best value ASIC as soon as it is released. Ofcourse I am also not including % lost due to 2% stake and increases in mining difficulty as well.
That would be an interesting idea but a few issue must be taken into consideration.
Miners depreciate over time
ASIC miners wont be shipped before 2-3 months waiting time
Difficulties will likely rise rendering the miners less competitive and less profitable
What is unknown is how fast is the difficulty will rise in SCRYPT mining.
I don't think I would personally continue the mining race. The window of ROI is rather small and you have to be quick to turn over your asset.
That being said, if you don't own any mining rigs you could have a few ASICS since mining is not only important to secure the block chain, it's also fun and can give you a way to enter any given market without investing BTC you previously have.
If you already own a rig, I would point it to hashco.ws and get paid in HBN right away.
The sell side of HBN has low volume, so we don't need that much people to point their rigs to the multipool to see a nice appreciation of the value of HBN.
Your reasoning about the multipool and appreciation of the other half of your investment by rising the price is correct. What is hard to evaluate is, will HBN rise faster than the ASIC depreciate (and will your ASIC be able to buy you enough HBN at the multipool). If you believe so, might be worth a shot, if you fear it's not, better hold to your current HBN position. You also have to consider delivery time of your ASIC... if it takes 3 months to ship, where will HBN price be in 3 months? (if price goes up, it's good for your other half, but you will be buying less from the market with your ASIC miner, not even considering the negative impact of difficulty rising)
3 months ago, HBN was trading around 8k-10k sat, while I'm writing this it's at 53k sat. Not only will you lose your stakes (2%) for that waiting period, but you might lose a nice appreciation too!
