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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3901080 times)
d3adh3ad
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May 12, 2014, 12:24:52 PM
 #19101

USD, RMB, or BTC - these won't have a positive ROI any way you cut it.

Bitcoin awareness has grown over the past year. New individuals have now heard of Bitcoin and have a simple understanding of how it works. This product provides a low barrier to entry (less than $100, low power usage) for those folks to get their feet wet in the Bitcoin mining industry. This way, they do not have to risk thousands of dollars on a preorder that may or may not arrive. With its pricing in fiat, there is the opportunity to make ROI should BTC rise in value again (spoilers: it will).

It serves its purpose by exposing the brand with products in a sleek design and at an approachable price point, which is competitive with other offerings that have immediate delivery. For the enthusiast miners here and the like, it's unlikely to appeal to them. Friedcat will have the "high-end" covered through franchise mining (2.4 PH/s @ 1.2 MW) and large batch chip orders. Rockxie is initially focusing on the "low end" first with this and plans to ramp up with the next iteration.

Batch produced will be done after 10 days,which is about thousands units,then can be shipped out.Current price is around $90,but it will be adjusted then,so we dont accept preorder now.
Bades will be TGH/S in June,if everything works good.

If a rise in BTC price is necessary for miners to make ROI wouldn't it just be better to buy and hold?

bingo!

Yes but as I said, this is an option for people actually want own some mining hardware (see above). From looking at the Mining Hardware subforum, there are plenty of USB miners and then there are small ASIC boards. This serves as another option for those people. Are you going to make a 10x return? No. Obviously if there is no demand, then the test run of the ~1000 units (~4000 chips) would be a failure.

For the record, I do think there is demand and I think these 1000 will sell out rather quickly. I bought a device last year that proved a poor choice financially compared to buy and hold. I did have lots of fun running it though. I don't think I'd do it again but I'm glad I did it once.
The Bitcoin Forum is turning 10 years old! Join the community in sharing and exploring the notable posts made over the years.
antirack
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May 12, 2014, 12:40:26 PM
 #19102

When the BTC rises there will be another craze for mining gear. Rockminer will be there to serve them. And everyone on Alibaba and Taobao Wink
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May 12, 2014, 01:26:32 PM
 #19103

USD, RMB, or BTC - these won't have a positive ROI any way you cut it.

Bitcoin awareness has grown over the past year. New individuals have now heard of Bitcoin and have a simple understanding of how it works. This product provides a low barrier to entry (less than $100, low power usage) for those folks to get their feet wet in the Bitcoin mining industry. This way, they do not have to risk thousands of dollars on a preorder that may or may not arrive. With its pricing in fiat, there is the opportunity to make ROI should BTC rise in value again (spoilers: it will).

It serves its purpose by exposing the brand with products in a sleek design and at an approachable price point, which is competitive with other offerings that have immediate delivery. For the enthusiast miners here and the like, it's unlikely to appeal to them. Friedcat will have the "high-end" covered through franchise mining (2.4 PH/s @ 1.2 MW) and large batch chip orders. Rockxie is initially focusing on the "low end" first with this and plans to ramp up with the next iteration.

Batch produced will be done after 10 days,which is about thousands units,then can be shipped out.Current price is around $90,but it will be adjusted then,so we dont accept preorder now.
Bades will be TGH/S in June,if everything works good.

If a rise in BTC price is necessary for miners to make ROI wouldn't it just be better to buy and hold?

bingo!

Yes but as I said, this is an option for people actually want own some mining hardware (see above). From looking at the Mining Hardware subforum, there are plenty of USB miners and then there are small ASIC boards. This serves as another option for those people. Are you going to make a 10x return? No. Obviously if there is no demand, then the test run of the ~1000 units (~4000 chips) would be a failure.

For the record, I do think there is demand and I think these 1000 will sell out rather quickly. I bought a device last year that proved a poor choice financially compared to buy and hold. I did have lots of fun running it though. I don't think I'd do it again but I'm glad I did it once.

yea for the record i just bought 2 S1.. Grin Grin but still.. hard to ROI nowadays..  Undecided
romerun
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May 12, 2014, 01:37:25 PM
Last edit: May 12, 2014, 01:48:55 PM by romerun
 #19104

There are folks out there that refuse to accept the fact that buying mining gear is losing against buy and hold, of course somedays they will get it, but there're always new bloods to replace them. At least AM and hopefully RM, give what user paid for unlike those scumbag / incompetence  bfl,cointerra,knc .
ace345
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May 12, 2014, 10:55:11 PM
 #19105

Hey I was just curious about whether there was any update in regards to if stocks will be traded via Colored Coin in the near future, assuming that it works fine.

I think I remember it being mentioned as an option back when BTC-TC closed down.
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May 12, 2014, 11:01:56 PM
 #19106

Hey I was just curious about whether there was any update in regards to if stocks will be traded via Colored Coin in the near future, assuming that it works fine.

I think I remember it being mentioned as an option back when BTC-TC closed down.

i would think it best to wait and see how coloured coins work out first. there are sure to be bugs, and wouldn't you rather see some other security deal with that before you throw all your value into it?

dont get me wrong, cc is the future, but the future just aint quite here yet. give it a few months, is my thinking, and when its proven 100% reliable and user friendly, boom....everyone will be using it, without question.
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May 12, 2014, 11:11:40 PM
 #19107

yea I agree, definitely would be prudent to wait. great thanks
shawshankinmate37927
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May 12, 2014, 11:55:52 PM
 #19108

There are folks out there that refuse to accept the fact that buying mining gear is losing against buy and hold, of course somedays they will get it, but there're always new bloods to replace them. At least AM and hopefully RM, give what user paid for unlike those scumbag / incompetence  bfl,cointerra,knc .

And if it turns out that AM is having difficulty selling chips in sufficient numbers, then there's the self-mining option.

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."   - Henry Ford
RoadStress
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May 13, 2014, 12:07:22 AM
 #19109

There are folks out there that refuse to accept the fact that buying mining gear is losing against buy and hold, of course somedays they will get it, but there're always new bloods to replace them. At least AM and hopefully RM, give what user paid for unlike those scumbag / incompetence  bfl,cointerra,knc .

Buy and hold until when? When are you exchanging your BTC to fiat? Miners have more flexibility imo. Buying and holding isn't very flexible.

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_mr_e
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May 13, 2014, 02:24:19 AM
 #19110

the thing with mining that nobody seems to acknowledge is this;
If you have a rig that cost 1000$, paid for it in fiat, run it for one year and it mines a total of one single btc, it seems like a colossal loss at current prices. but if the btc price rises to 10 000$ in the future, even ten or twenty years from now... you have still made a good investment.

in traditional investing, doubling your money in ten years is seen as a decent conservative return. so if btc is even only worth 2000$ in 2024 you have a win, my friends.

support the network and hodl!

Or you could just buy 2 btc...
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May 13, 2014, 02:35:18 AM
 #19111

the thing with mining that nobody seems to acknowledge is this;
If you have a rig that cost 1000$, paid for it in fiat, run it for one year and it mines a total of one single btc, it seems like a colossal loss at current prices. but if the btc price rises to 10 000$ in the future, even ten or twenty years from now... you have still made a good investment.

in traditional investing, doubling your money in ten years is seen as a decent conservative return. so if btc is even only worth 2000$ in 2024 you have a win, my friends.

support the network and hodl!

Or you could just buy 2 btc...

And what are you doing with them? Holding until when?

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Jutarul
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May 13, 2014, 02:48:55 AM
 #19112

...
Or you could just buy 2 btc...

And what are you doing with them? Holding until when?
SSS: https://bitcointalk.org/index.php?topic=345065.0

The ASICMINER Project https://bitcointalk.org/index.php?topic=99497.0
"The way you solve things is by making it politically profitable for the wrong people to do the right thing.", Milton Friedman
shawshankinmate37927
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May 13, 2014, 02:49:33 AM
 #19113

the thing with mining that nobody seems to acknowledge is this;
If you have a rig that cost 1000$, paid for it in fiat, run it for one year and it mines a total of one single btc, it seems like a colossal loss at current prices. but if the btc price rises to 10 000$ in the future, even ten or twenty years from now... you have still made a good investment.

in traditional investing, doubling your money in ten years is seen as a decent conservative return. so if btc is even only worth 2000$ in 2024 you have a win, my friends.

support the network and hodl!

Or you could just buy 2 btc...

just caught myself as you posted (edited)

As far as I'm concerned, the only way to achieve ROI is to successfully mine more BTC than you would have been able to buy with the fiat you spent on the mining equipment.  (Or, if the mining equipment is priced in BTC, mine more BTC than the amount of BTC that was spent on the equipment.)

Now, of course, we know that the IRS considers mined BTC to be income as soon as it's mined, and expects to receive their cut.  So, that's another cost that Americans have to take into consideration that makes achieving ROI even more difficult.

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."   - Henry Ford
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May 13, 2014, 02:56:24 AM
 #19114


I am sure that the majority of people can't/won't respect the SSS. Most of the people never did trading and usually people are very anxious and don't respect any plan. Sentiments get involved very often when it comes to money and a quick win or loss matter much more than the SSS plan. How many people who bought at 32$ before the fall didn't quickly exchanged them at 100$ or 200$ to just feel sorry about it at 1100$?

For me mining makes it very easy to manage things. I can cash out money every month, I can save bitcoins, I can sell equipment, I can shut down equipment and turn it on when the BTC exchange rate is better etc.

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romerun
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May 13, 2014, 03:18:33 AM
 #19115



This meme came up on every rally
BitHub
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May 13, 2014, 04:09:30 AM
 #19116

how come the price keeps tanking?
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May 13, 2014, 04:52:24 AM
Last edit: May 13, 2014, 05:23:26 AM by Fordee
 #19117

how come the price keeps tanking?

As it's been tanking so long, the bigger question isnt' why someone is selling, but why the true belivers are not snapping up cheap shares knowing about Gen3 release shortly.

And... ponder this..   If nobody is snapping them up now, what makes you think there is going to be a huge rally when the div's come back?

edit:  I'm confused by this myself.. anybody?
explorer
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May 13, 2014, 06:57:02 AM
 #19118

how come the price keeps tanking?

As it's been tanking so long, the bigger question isnt' why someone is selling, but why the true belivers are not snapping up cheap shares knowing about Gen3 release shortly.

And... ponder this..   If nobody is snapping them up now, what makes you think there is going to be a huge rally when the div's come back?

edit:  I'm confused by this myself.. anybody?

Most taking this ride have filled their positions months ago.   It was even cheaper then. 
necro_nemesis
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May 13, 2014, 10:17:00 AM
 #19119

how come the price keeps tanking?

As it's been tanking so long, the bigger question isnt' why someone is selling, but why the true belivers are not snapping up cheap shares knowing about Gen3 release shortly.

And... ponder this..   If nobody is snapping them up now, what makes you think there is going to be a huge rally when the div's come back?

edit:  I'm confused by this myself.. anybody?

Most taking this ride have filled their positions months ago.   It was even cheaper then. 

and completely a gamble since there wasn't even an ASIC. Regardless of the increase in price it's a comparably better investment now then what people rolled the dice on then. The chance of failure was far too great at that point.
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May 13, 2014, 11:48:25 AM
Last edit: May 13, 2014, 05:15:03 PM by RoadStress
 #19120



This meme came up on every rally

But for the moment there isn't any rally. So while you are holding BTC I'm moving money every month. Of course if I knew that we had a 2 month rally like last year from 100$ to 1100$ I would prefer to buy and hold, but until the rally happens I'm moving BTC and cash all the time while holders do nothing.

Edit: I'm sure that everyone that bought BTC and is holding got them at more than 450$ or more than 500$. For the moment the places are reversed. The one holding is just sitting while miners are moving money.

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