The ASIC wave!!!

[Boston10]

Hey everyone, thanks for taking the time to read my post

Anyways, now to brass tax. I know that a lot of us are watching the looming cloud that is coming late September. I am talking about the latest batch of ASICs coming to the market for equihash.

I wanted to judge the communities thoughts on this. This will help give me an idea of what to expect.

Im by no means a crypto mining veteran. That being said, i jumped on board for the equihash ASIC wave.

As the days go along and I read more on the topic I want to refund my purchase. Am I right in this worry? I've got about a 75% certainty that equihash ASICs will become the next DASH(sorry i forget the algo.).

I guess what im seaking from this thread is, am i correct in my suspicion and should turn back now before its too late? Most of the parts showed up Monday (PSU, RasberryPi 3 etc. For miner configuration).

I could always just pickup some 1080ti's or 1070ti's and just go for speculative mining and give up on ASIC ROI grinding....

Let me know.

Thanks for your thought and for reading this far.

Boston.

[wacko]

Mining with ASICs is very different from mining with CPU/GPU. It's a rigged game: the companies producing those ASICs first mine the shit out of them, and then, when profits aren't that great anymore, they "release" them into the wild and sell them to other suckers. Which may, or may not ROI them eventually. And in this bear market that's been going on for ~ 9 months now.. I'd say get your money back if you still can.

[adaseb]

There were times in the past when owning an ASIC proved to be more profitable than buying the coin outright.

Because if let's say Zcash has a crazy FOMO rally and ends the year at $1000 then owning the ASIC would of paid off because in the near future that ASIC will be probably worth as much as you originally paid for it.

So you would pretty much get the ASIC for free and get to keep the coins.

However if the difficulty keeps increasing and price keeps falling and there is no short term recovery then most likely you will be sitting at a loss or at best break even if you can resell that ASIC in the future.

It's all speculation and a gamble.

[Tailgunner]

At the moment i'm not aware of any mining options that look promising if purchased now. What exactly is your plan for a raspberry pi?

[Boston10]

I planned to use the raspberry pi 3 to VNC into the local network that it and the miner would living on. That way I have remote access to the miners on the network from anywhere.

[nsummy]

Hey everyone, thanks for taking the time to read my post

Anyways, now to brass tax. I know that a lot of us are watching the looming cloud that is coming late September. I am talking about the latest batch of ASICs coming to the market for equihash.

I wanted to judge the communities thoughts on this. This will help give me an idea of what to expect.

Im by no means a crypto mining veteran. That being said, i jumped on board for the equihash ASIC wave.

As the days go along and I read more on the topic I want to refund my purchase. Am I right in this worry? I've got about a 75% certainty that equihash ASICs will become the next DASH(sorry i forget the algo.).

I guess what im seaking from this thread is, am i correct in my suspicion and should turn back now before its too late? Most of the parts showed up Monday (PSU, RasberryPi 3 etc. For miner configuration).

I could always just pickup some 1080ti's or 1070ti's and just go for speculative mining and give up on ASIC ROI grinding....

Let me know.

Thanks for your thought and for reading this far.

Boston.

Isn't supposed to be called brass "tacks"??     What asic miner did you buy.  How much did you pay and is it even possible to get a refund? also when will it arrive?

[nsummy]

Mining with ASICs is very different from mining with CPU/GPU. It's a rigged game: the companies producing those ASICs first mine the shit out of them, and then, when profits aren't that great anymore, they "release" them into the wild and sell them to other suckers. Which may, or may not ROI them eventually. And in this bear market that's been going on for ~ 9 months now.. I'd say get your money back if you still can.

I'm sure this happened at some point but I'm pretty sure that the theory of companies secretly mining them is becoming less true.  A. because of current market prices, and B. because of competition.  You now how multiple competitors in the alt coin asic space and being the first to market has a definite financial advantage.  Don't get me wrong, I'm sure there is a multi-week burn in period where they are mining, but I doubt these guys are mining for 9 months like everyone seems to think.  The more valuable the coin, the more you can charge after all.  That said, this newfound competition is actually worse for the consumer.  At least before you only had to worry about Bitmain flooding the market, now you need to worry about 4 other companies doing the same.  Personally I wouldn't buy an ASIC now unless it was a situation like the A3, which shipped 3 days after announcement.  There is too much risk pre-ordering months out.

[Xazax310]

I think your overestimating this "ASIC wave" to even buy to have to be verified with bitmain. How many new people have dumped mining because of prices? We'll definitely see an increase in hashrate but I've been watching ZENCASH and it hashrate actually hasn't increase to an insane amount. Back few months mining with GPUs i see highs of 1.5 with lows of 800. Now I see highs of 2 and lows of 1.5, that with ASICs and those still GPU mining But in reality, we will see what happens

[Boston10]

Personally I think you (not the last poster... ANYONE.) are ignorant if you think that these ASIC companies are not in bed with large mining operations. (In regards to early access, etc...)

You have to keep reminding yourself that this is an industry with little to no regulation at all.

Food for thought.

[philipma1957]

If you plan to asic mine in the current climate you need cheap power.

So I ask you what does your power cost you?

at 3 to 5 cents you should be good
at 6 to 8 cents you may be good
at 9 to 11 cents it has become iffy

over 11 cents most every asic is a loser at the moment.

those are per kwatt usd money with all fees included .