Will you back out?

[alubadu]

Hi there guys... I was thinking on buying an ASIC... it is a shame that no provider has enough reputation not to consider it a scam ... because I Want to buy hardware new miner HW.

Watching and reading... it seems that for the moment we get (even if the provider send it on time) those

• 300 GH
• 600 GH
• 1 TH
• 1.5 TH
• 2 TH
• 3 TH

Will just raise the bar for the difficulty to at less 10 times more (I read it somewhere here or in a blog, still an answer say that will happen to miners, but not to BTC buyers) say 30,815,723,798.81. So a 600.0 GH instead of do 0.07638722 BTC per day as the actual next estimated, it will do 0.00979188 BTC.


Also... yeah... it seem that someone has already first 240 2TH (as reported first here: https://bitcointalk.org/index.php?topic=356825.msg4837246#msg4837246 ) and now 440 2TH as I see from here :

http://eligius.st/~wizkid057/newstats/userstats.php/1Nbq2XZaRsKknf5fcT2wTXvBS31PaUWSeX

ANd I see there this

Estimated Earnings
Your approximate maximum potential earnings at the current network difficulty of 3,815,723,798.81 and maintaining your 3-hour average hash rate of 898.78 Th/s is 118.45998459 BTC per day.

So one of my questions are

• will you back out if you have less than 600 GH?
• will you try to get a higher order miner (in the size of Tera Hash?)
• How it is possible that such BTC address has that TH rate now?
• you think one of the ASIC providers will be able to ship before the complexity get to high to even this new miners can't take more than some dollars each day?
• Is really the future mining like it seems when this new technology comes finally out?
• EXTRA ADDED:  also build one on your own will make it less profitable even to a point where you could not make a home made option because it will not be able to get back what you used for build it on first place at maybe some like 0.00000979 BTC per day [don't know if I do this calculation ok]

EDIT ADDED (please explain this to me, I don't get it :S)

Seem I haven't seen the whole picture https://blockchain.info/charts/hash-rate march 14 the max hash rate is 35,659,964 GH.

If I'm not wrong 35,659 TH and if the address is making 901.66 Th/s... it isn't making alone more hashing operations that the whole net?... lol.... I guess I failed in understand this.

[1715689958]

1715689958

[1715689958]

1715689958

[HellDiverUK]

Those addresses you see on Eligius are groups like KnC, Hashfast, etc.

[digitalninja81]

Maybe it's not the best idea to buy buy the hardware new miner?

[LostDutchman]

IMHO buying ASICs now is much akin to pissing in the wind.

If you want to invest in hardware, I suggest GPU equipment for mining Scrypt.

My $.02.

[HellDiverUK]

IMHO buying ASICs now is much akin to pissing in the wind.

If you want to invest in hardware, I suggest GPU equipment for mining Scrypt.

My $.02.

Even that's starting to show signs of becoming less profitable.   Multi-coin pools are pushing up the difficulty on all the altcoins.

At the moment I have 4 GPUs doing about 1500kH and they're bringing in more BTC than my ~180GH of SHA256 ASICs.

[Korbman]

Alright, let's see if we can answer some of those questions.

• will you back out if you have less than 600 GH?

Not necessarily. Other than your hashing speed vs the network's, there are a few other important variables when it comes to mining; 1) The cost of your equipment in Bitcoins, 2) the price of a Bitcoin in fiat, and 3) the cost of a kWh in your area (or wherever the equipment is situated).

So long as running a 600GH/s machine is profitable, it will more than likely stay online and hashing. Maintaining profitability comes down to covering energy and space costs, which typically comes down to a payment in fiat (at some point). Even at a 10x difficulty increase (to 38B), a 600GH/s miner using 600W will still be marginally profitable, netting about $20 each week ($35 in BTC at current prices - $15 in electricity @ $0.15 / kWh).

It's not much, sure, but it's also not negative, especially if you live in an area with cheaper (or free) electricity.

• will you try to get a higher order miner (in the size of Tera Hash?)

If the price, size, and energy efficiency match your needs/wants, then sure.

• How it is possible that such BTC address has that TH rate now?

As HellDiverUK already noted, those addresses typically belong to the largest mining groups.

• you think one of the ASIC providers will be able to ship before the complexity get to high to even this new miners can't take more than some dollars each day?

You may want to check out BitMain and their AntMiner line of products -- https://www.bitmaintech.com
They ship out gear every few days from their stock, no need for pre-orders.

• Is really the future mining like it seems when this new technology comes finally out?

So long as there's a cost effective way to develop a faster, cheaper, more energy efficient ASIC for mining, yes.

• EXTRA ADDED:  also build one on your own will make it less profitable even to a point where you could not make a home made option because it will not be able to get back what you used for build it on first place at maybe some like 0.00000979 BTC per day [don't know if I do this calculation ok]

Not quite sure what you're asking here...

Seem I haven't seen the whole picture https://blockchain.info/charts/hash-rate march 14 the max hash rate is 35,659,964 GH.

If I'm not wrong 35,659 TH and if the address is making 901.66 Th/s... it isn't making alone more hashing operations that the whole net?... lol.... I guess I failed in understand this.

The 900TH/s is part of the network total 35,659TH/s, so no, it wouldn't create more hashing operations than the rest of the network...if that's what you're asking?

[DeathAndTaxes]

If I'm not wrong 35,659 TH and if the address is making 901.66 Th/s... it isn't making alone more hashing operations that the whole net?

Unsure what you are asking here.

901 < 35,659 so not it isn't more than the entire network.  It is ~2.5% (901/35,659) of the network.

[madsquirrel]

IMHO buying ASICs now is much akin to pissing in the wind.

If you want to invest in hardware, I suggest GPU equipment for mining Scrypt.

My $.02.

Seems to be the best advice here!

[LostDutchman]

IMHO buying ASICs now is much akin to pissing in the wind.

If you want to invest in hardware, I suggest GPU equipment for mining Scrypt.

My $.02.

Seems to be the best advice here!

Thank your for your kind reply!

My $.02.

[thresher]

IMHO buying ASICs now is much akin to pissing in the wind.

If you want to invest in hardware, I suggest GPU equipment for mining Scrypt.

My $.02.

What do you base that off of?
Do not buy gpus for mining.  Go look at the prices and earnings of coins today, then look at last month, month before, month before, you get it.
Look at how much was made on dogecoin pump originally, look at how much is made on whatever bullshit coin came out today for a pump a dump.
Don't believe me that it went to shit, go look at the prices of gpus.  They were being scalped like crazy, now the major distributors are selling them for their standard prices, probably because people realize gpus are becoming non profitable for new rigs and are they are not moving at the higher prices.   
You can literary buy 3 antminers and psus for the same price of a 2-3000 khs rig.  What makes more a day? The antminers would make 4x as much.
Will the antminers earnings potential fade away quicker, probably.  Will the resale be low compared to gpus, yep.
Hopefully gpu mining will recover, or these n-factor jane things will catch on, but at this moment it is not worth it.


If buying an asics rig is pissing in the wind, buying a gpu scrypt rig today is like having explosive diarrhea into the wind.   
   

[jolipenria]

Is it profitable to invest in hardware nowadays?

[ns12123]

Yes, if someone can share  legit website, so we can order asic miners would be nice.