Now that the Avalon chips will shortly be coming on the market there are few asic options soon to become available. So is anyone planning on jumping on the asic bandwagon? Ive registered a pre order with knc miner for a 175 ghs/s miner that at current difficulty should net 8.7344 bitcoins a day although the difficulty will shortly be ramping up quite significantly.
the way I'm looking at it is if there is a massive hike in difficulty and I only get 1 bitcoin a day that would still net 560 a week at current prices with ROI at 5 weeks.
If you jump on the Asic bandwagon now it might be too late considering there are thousands of people before you with a per order in. Once the production line of these devices are in full swing the you may not even make profits to compete with th bigger and new generation devices , and the price should drop as well to buy these. Even litecoin mining at the moment it hard to make profits with gpu mining after costs . I think mining in general is going to get to hard for the average person.
I read an article on techcrunch and someone commented that the business of making these machines is way better than trying to mine for bitcoins/lite coins. Just saying.
If you can get an ASIC tomorrow through a different place that isn't doing the bulk of the pre-orders... (BFL and Avalon), then you could be generating massive profit. One guy on OzCoin is getting about 150,000MH/s which is 7 BTC per day at the moment. He's said he doesn't work at the moment either - bastard.
Well... September last year I was thinking of getting some GPUs, but people said too late too late... so I ordered a couple of these butterfly machines. Although I'm on the first batch of delivery, I lost 8 months of mining returns and the hike of BTC price, which definitely enough to cover the cost of machines plus a good decent premium. By the way, it was $15 a coin last year September. So, never too late, but if you're going to enter the market by fiat currency, be really really really really really really careful, particularly those funny new coins like FTC, CNC, etc.
The funny new coins are great for mining. Bad for investing in. I mine the alt coins and when they're profitable - swap them into BTC.
The average person with a pre order will get it after the inventors, producers, insiders have mined A tone of coins, raised the difficulty and offcourse taken your money. Pretty sure the Chinese are already mining a tone since this is where they are getting the chips from
RetardedMonkey I got heaps of royal coins, you think they are worth hanging onto in case it hits a exchange , interest seems to be dying..
I got rid of my couple thousand Royalcoins. Awaiting this Elacoin release tomorrow - could be interesting but I think ill be at work for the first 5 hours of its conception which means I won't get in on it in time.
Wow that list is huge and people have been waiting for almost a year. They have made some serious money for not sending anything Needs to be more competition
I have a couple 330MH ASICMiner Block-Erupter USB sticks coming this week. The ROI on those look ok right now, but obviously difficultly will rise tremendously over the next few months and years, so I'm not holding my breadth on it being a payback-in-under-a-year deal. For me, mining is more of a "doing my part for the network" thing, and also an educational exercise. For investment in mining, I own a few shares of ASICMiner. Seems to me the more sensible route is to own the cashflow stream of capable operator that's going to continue to scale, upgrade, innovate, etc. The cat's out of the bag on ASICMiner at this point, so shares aren't cheap, but this is more of a Buffet-style "buy a great company at a fair price" play.
Big jump in BTC mining difficulty overnight, a 28% increase. Some interesting discussion on ASIC and the increase here: https://bitcointalk.org/index.php?topic=226107.0
Yep. At current difficulty and price, I am now only making about $4.50 profit a day after electricity costs. Before difficulty change it was $8.00 Depending on the price of other alts (mainly Litecoin), it's almost time to pack in the hardware and sell it.
I wouldnt bother the usb miners, at 300 khash.s at just over 2 bitcoin you would be better off buying shares in a asic miner. I just bought some shares a 350 ghash/s asic to be hosted aty kncminer in sweden. Cost 2 bitcoin a share for 11.6 ghash/s. Will be up and running by September, the company has held 2 open days where public could attend and view the prototype and the general feeling was that the guys were legit. Company name is kncminer and they have partnered with orsec, a well known tech company in sweden. there are a few group buys running, i joined this one - https://bitcointalk.org/index.php?topic=226319.msg2387213#msg2387213 Kncminer - https://www.kncminer.com/
