people buying used miners

[IamCANADIAN013]

lol its all noobies that are being introduced to mining. Some People I know buy them for fun, though just 1-2 for entertainment

entertainment purposes = wow, look every month i'm loosing money to energy cost and I overpaid for the amount of coins I am getting? wtf

Not everyone pays for power though.  Who knows, maybe they just like getting stoned to trip out on the flashing light, LOL!

Nothing wrong with people willing to overspend on outdated mining hardware, it helps to keep the ROI possible.

[1714892572]

1714892572

[er.arpit]

People want to try first.. I personally wanted to do a POC on bitcoin mining before investing couple of thousands, so i bought "block eruptor asic miner cube", used it for 1 week and sold it for 80% of my buying price.. Yeah so that's the premium i paid to test the concept.

[Gate559]

if you need a rise in btc prices to roi your miner you shoulnd`t buy it. just buy some btc and hold it. buying a miner only makes sence if it wil produce more btc then you can currently buy with that money.

+1

although if you don't plan on buying with fiat but the price drops suddenly like it is now and you decide to invest you could calculate your ROI starting from your initial fiat investment. I know, it's just mental acrobatics but still...I don't like to buy low but I like to invest low.

[Gate559]

Well most miners could be considered used. I'm not sure why people buy from ebay while they are cheaper in China. Yes it takes longer but  is +50% price justifying few days of delay? Maybe if the seller is from your country and in the end you don't pay VAT...

[IamCANADIAN013]

Well most miners could be considered used. I'm not sure why people buy from ebay while they are cheaper in China. Yes it takes longer but  is +50% price justifying few days of delay? Maybe if the seller is from your country and in the end you don't pay VAT...

For some people it is a lot more convenient to pay with a credit card than it is to pay with Bitcoin.  For some, buying coin isn't all that easy. It's also a way for people to buy equipment without having the money up front.  It's not a smart way to do it, but thats how a lot of people use credit cards.  Buy now, pay for it later.

[JayRobo]

Do you guys think there will be uses for the Old generation of ASICs in the future? Act as nodes for processing transactions?

[jiangkand1]

The idea is not the same for everyone, think it is worth it will start up!

[Bryanrobh]

I am a noob to mining and I am have been reading.  I first started reading about the block eruptors and thought it would have been a cool setup but then thought twice about it when I read somewhere on here if you are not mining upwards of 200 Gh/s it isnt worth it.  Then I fgured the cost of making a rig that would put out that kind of power with eruptors and the cost isnt worth it.  So I found the Antminer S1 Dual Blade.  I see them around $700.  I was wondering for anyones opinion on this machine actually making its money back with say litecoin and a rate of .08 Kw/h electricity costs.  I was trying to use one of the calculators I found but I wasnt sure I was entering the correct info.  Thanks in advance.

[IamCANADIAN013]

I am a noob to mining and I am have been reading.  I first started reading about the block eruptors and thought it would have been a cool setup but then thought twice about it when I read somewhere on here if you are not mining upwards of 200 Gh/s it isnt worth it.  Then I fgured the cost of making a rig that would put out that kind of power with eruptors and the cost isnt worth it.  So I found the Antminer S1 Dual Blade.  I see them around $700.  I was wondering for anyones opinion on this machine actually making its money back with say litecoin and a rate of .08 Kw/h electricity costs.  I was trying to use one of the calculators I found but I wasnt sure I was entering the correct info.  Thanks in advance.

You can't mine Litecoin with an antminer S1. Litecoin is a scrypt coin and the S1 can only mine SHA-256 coins. As for making your money back mining Bitcoin, not likely.

[ajareselde]

I don't get it.
Perfect example is the 336 mhs usb one.  It is not worth more than $2 under the most ideal circumstance (free power.)
Yet they sell for anywhere from 5-15 and actually move. 
Wtf   
Are the parts valuable or something? 
At the rate these used mienrs move, they are going to rip more people off than mt gox  (ok exaggeration.)

 

definetly not worth it with block eruptors anymore






.