The 1st rule of the mining club

[tarmi]

do not preorder



there are several reasons for that. the first one is obvious: you might not get your miner in time or if you are really unlucky, you might not get it at all.

the second reason is that money of your preorder is used for the development of big data centers that will compete with you. we have already seen this happening with Bitfury, KnC, BFL, aaaand Spondooliies tech...did I forget someone?

how about you? what is the first rule for ya?

[TyrTheAlpha]

1st rule:
Everyone pays to Mine!

[DebitMe]

you forgot BlackArrow

[tarmi]

yea, not to mention Yifu and the mega failed preorder of millions of paid avalon chips that "got stuck in the customs".

[solosequenosenada]

TOO LATE!! 

[DebitMe]

you forgot BlackArrow

I think it was more incompetancy than a data center, could you imagine how crummy that center would be lol.

HAHA, knowing what I do about the engineers at BA, it would probably be a tripped/fire hazard everywhere.  But alas, it doesn't matter what it looks like as long as chips are hashing away, which I truly believe that they are.

[bozo333]

+100 on the do not preorder...

Case in point... the SP30 coming out in fall with reported 6TH sounds great...

Now, who took a spreadsheet to see what that really means taking increased difficulty into consideration?

Well, I did... Best case scenario, those 6TH in Aug/Sept will only be equivalent to about 2-2.5TH with today's difficulty.

And thats IF you actually get into into your sweaty little hands at the promised time!

[jonsi]

My first rule: Do not spend more than you are prepared to loose. After that comes the preorder, the price, the company and others.

[Harley997]

I actually saw a website that offers cloud mining via preorder.

Besides the fact that the site is screaming "scam" this combines the issue of overpriced cloudmining with the uncertainty of cloudmining

[Unacceptable]

Don't foget ASICminer.Friedcat was one of first with a mining farm built on customers money.............

So that's about 4 VERY large entities (at least) with VERY large mining farms driving up the diff against customers 

[taipo]

1st RULE: do not preorder
2nd RULE: DO NOT PREORDER
3rd RULE: If you ignore these first two rules, DO NOT come whining about how you got fucked over

[ChuckBuck]

The first rule of mining club is...."DON'T START!  BUY AND HODL INSTEAD!!!"   

Best advice there is...

[nwfella]

First rule of Mining Club:

"Sleep is for pussies!"

[Bitcoin Magazine]

no one talks about mining club 

[BTC_Fundamentals]

definetly do not spend more that you are ready to loose.

[Harley997]

1st RULE: do not preorder
2nd RULE: DO NOT PREORDER
3rd RULE: If you ignore these first two rules, DO NOT come whining about how you got fucked over

Maybe a fourth rule: Do not buy before research and don't buy off ebay.
Too many people spend 100% more than they would because its on ebay and easy for them to get, it's rediculous and will never make anything close to an ROI.

Now if you're resaling to make an roi: Sell on ebay.

Buying from a "person" instead of directly from the manufacturer is very risky for a number of reasons, getting convinced to overpay is one of them, but far from the biggest risk.