Miners DUMPING their ASICs

[cosmofly]

Its like everywhere Miners are dumping their ASICS, on sale pretty much everywhere, i wonder why  


Discuss

[1713557758]

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[protokol]

Well they must be getting bought by other miners then, how else do you explain the exponential graph?

[herebittybittybitty]

A lot of people are willing to buy miners at a cost yielding a negative ROI. There are also a lot of people who are doing that math and finding it more prudent to sell to them than mine.

[herebittybittybitty]

Well they must be getting bought by other miners then, how else do you explain the exponential graph?

The 1, 2, 3 TH machine pre-order dump is underway.

[cosmofly]

Well they must be getting bought by other miners then, how else do you explain the exponential graph?

The 1, 2, 3 TH machine pre-order dump is underway.

mega dump, on sale at a discount everywhere

[cosmofly]

A lot of people are willing to buy miners at a cost yielding a negative ROI. There are also a lot of people who are doing that math and finding it more prudent to sell to them than mine.

is that even sustainable, how much more can you compensate future negative ROI buying more worthless asics with your past profits.

its like the whole mining game is about to collapse, if not now soon enough

[fonzie]

Another huge sign about the upcoming collapse of Bitcoin price. I´m a bit worried.

[herebittybittybitty]

Why would less mining result in lower bitcoin prices? 

[protokol]

Well they must be getting bought by other miners then, how else do you explain the exponential graph?

The 1, 2, 3 TH machine pre-order dump is underway.

Yeah that makes sense. I wonder if miners are selling older machines that will never see a +ve ROI (cutting their losses), or selling newer machines for a profit (making money on early pre-orders). I also wonder if some are upgrading their machines to newer models?

its like the whole mining game is about to collapse, if not now soon enough

Well the graph shows that the network speed is increasing exponentially, so no, the whole mining game won't collapse. What will happen eventually (as has been discussed a lot) is that some miners with higher costs will drop out, slowing/reversing difficulty, until an equilibrium is reached.

[str4wm4n]

PANIC

[serenitys]

How is it going to lower prices? Mining just slows the creation of new bitcoin...the usefulness of it and the short supply is what gives it is market value...I'd imagine it would rise since they'd be more scarce.

Plus, given the exponential rate of computing power, eventually the machines will be better equipped to mine in a more productive manner.

And surely some miner out there has managed to figure out how to slash the overall expense by going solar...  

[amspir]

How is it going to lower prices? Mining just slows the creation of new bitcoin...the usefulness of it and the short supply is what gives it is market value...I'd imagine it would rise since they'd be more scarce.

Not correct.  The bitcoin network self-adjusts to keep the creation of new bitcoin on schedule.  From an investor's point of view, the creation of new bitcoin has a known, tightly self-regulated rate of creation.

[jbrnt]

Its like everywhere Miners are dumping their ASICS, on sale pretty much everywhere, i wonder why  

They are on sale maybe, but hardly dumping. They are still sold at impossible-to-breakeven price. If they are selling 1TH/s machines for say 0.1 btc, that will be dumping  

[franky1]

Its like everywhere Miners are dumping their ASICS, on sale pretty much everywhere, i wonder why  


Discuss

new generations that are higher hashrate and less power use are on the market. and unlike GPU's which they switched over to scrypt coins.. the old gen ASICS get to a point of being useless. so the last ditch attempt to make money is to sell old tech

same applies for gamer's after a while its time to update your gaming machine. at one point playstation 3 was the most sought after item, everyone wanted one but there were not enough to go around. now everyone is buying the new playstation and throwing thier old console onto ebay, cheaper (bt not too cheap to be classed as 'dumping')

[southerngentuk]

Its like everywhere Miners are dumping their ASICS, on sale pretty much everywhere, i wonder why  


Discuss

Maybe some links to everywhere.

Am sure there are a few, its a dynamic industry,
but hey at least try to back up your claim with some evidence, Otherwise its just....


Thud, Thud Thud Thud

[vpitcher07]

How is it going to lower prices? Mining just slows the creation of new bitcoin...the usefulness of it and the short supply is what gives it is market value...I'd imagine it would rise since they'd be more scarce.

Not correct.  The bitcoin network self-adjusts to keep the creation of new bitcoin on schedule.  From an investor's point of view, the creation of new bitcoin has a known, tightly self-regulated rate of creation.

That's technically not correct either. On average 25 bitcoins are created every 10 minutes however that doesn't mean we can't find 5 blocks in 5 minutes adding 125 bitcoins in 5 minutes (Unlikely but possible). It's designed that on average it should be close to 10 minutes but that's not always true. To call it tightly regulated is a bit of an overstatement - it can be a lot quicker or a lot slower.

[TwinWinNerD]

PANIC

haha yeah. Most miners never do any math and speculate with a rising BTC price to pay for the hardware. When in fact just buying BTC would yield a better ROI overall.

Well, and if the BTC price does not appreciate, they wonder, why the difficulty keeps rising. LOL

[serenitys]

How is it going to lower prices? Mining just slows the creation of new bitcoin...the usefulness of it and the short supply is what gives it is market value...I'd imagine it would rise since they'd be more scarce.

Not correct.  The bitcoin network self-adjusts to keep the creation of new bitcoin on schedule.  From an investor's point of view, the creation of new bitcoin has a known, tightly self-regulated rate of creation.

Which part?

[amspir]

Not correct.  The bitcoin network self-adjusts to keep the creation of new bitcoin on schedule.  From an investor's point of view, the creation of new bitcoin has a known, tightly self-regulated rate of creation.

That's technically not correct either. On average 25 bitcoins are created every 10 minutes however that doesn't mean we can't find 5 blocks in 5 minutes adding 125 bitcoins in 5 minutes (Unlikely but possible). It's designed that on average it should be close to 10 minutes but that's not always true. To call it tightly regulated is a bit of an overstatement - it can be a lot quicker or a lot slower.

Compared to the decision making process behind a sovereign centralized bank currency, the rate of creation of bitcoin is much more known and tightly regulated than the creation of USD, for example.

[raindex]

Its like everywhere Miners are dumping their ASICS, on sale pretty much everywhere, i wonder why  


Discuss

The winter is over in the northern hemisphere. We don't need heaters anymore, so we sell them.