Suckers are willing to buy them, so why not?
Using them for mining and selling them aren't mutually exclusive. For every ASIC they sell they'll be running a few thousand of them in-house.
Apr 12th, 2013 12:28 am
Suckers are willing to buy them, so why not?
Apr 12th, 2013 5:56 am
Apr 12th, 2013 9:57 am
I think that is fair. BFL is selling them but hasen't shipped any in over a year. It's a scam. Avalon has shipped but only small batches, and was only created as a compeditor for BFL (underdog won the race though) and all others are not selling, but rather selling shares to mine privately.
Apr 12th, 2013 10:44 am
I've seem a lot of noobs like the op who hears about btc and just wanna get on the gravy train without doing his own reserach, they are doomed to fail.Amourek wrote: ↑I can tell you ASICs are real - I've seen them in action personally. I'm skeptical about Butterfly Labs but they are not the only ones selling them. Look at how the difficulty rate has been increasing: http://bitcoindifficulty.com/. You think that big jump in late March was from GPU miners? And heck, even with the recent plummet in price, the difficulty is set to rise and will continue to IMO unless it takes another serious hit.
Now let's go back to your plan. A minimal rig with a pair of 7970's will run you about $1100. You'll make about $7 a day at the current exchange rate and difficulty level so it will take 5 months to pay off (or up to 7~8 months if you pay for electricity). You're basically betting that the exchange rate will grow proportionally (or greater) with difficulty. If you truly believe this, it seems a lot simpler to use that money to buy BTC as an investment rather than going through the trouble of spec-ing, purchasing, configuring, and maintaining a mining rig yourself.
I've been mining for 2 years and I broke even on my hardware a long time ago. I wouldn't even dream about starting up today - it's the worst possible timing. Even if you don't pay utilities, it's going to be a grind and you have to live with a hot, noisy machine running 24-7. Hell, I've been waiting for the difficulty to rise enough so I would have an excuse to stop mining. It's almost there.
tl;dnr: It's better to buy bitcoins rather than expensive hardware to mine bitcoins at a slow, continually decreasing rate.
Apr 12th, 2013 3:58 pm
Apr 12th, 2013 4:18 pm
Apr 12th, 2013 5:25 pm
Apr 12th, 2013 5:28 pm
Apr 12th, 2013 6:17 pm
Apr 12th, 2013 6:50 pm
op is too focused on BTC when LTC is the future.jimsmith wrote: ↑say 2400 mHash for your 4 7970 at today's difficulty and current exchange rate of $102 US = 490 x 12 = $5880 looks good on paper unfortunately the difficulty will rise and you will not make $5880
Another thing is the amount of heat and the noise. I have 2 &970's running a core temp of 84 C with the memory downclocked and its like a hair dryer at the back of my case .
Apr 12th, 2013 7:44 pm
Apr 12th, 2013 8:28 pm
Apr 13th, 2013 2:07 am
Apr 13th, 2013 1:34 pm
Apr 13th, 2013 5:24 pm
^^^^^^^^^^^^^^^^^spandexninja wrote: ↑Don't. Mining difficulty is increasing rapidly due to ASICs and building a GPU rig for Bitcoins simply won't be profitable.
Apr 15th, 2013 8:06 am
Apr 24th, 2013 6:57 am
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Apr 24th, 2013 10:47 am
Apr 24th, 2013 10:54 am
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