11–20 of 73 posts
Why don't they plug them into their outlets themselves?
If you don't double down, someone else will, and your hardware will be worthless. Therefore you need to keep spending to keep mining.
You know, for $15,000 I'd expect them to throw in a $200 case.
I think in order for those products to be profitable they need to sell them very very quickly (because of the ever increasing difficulty of the bitcoin mining), so maybe they didn't take the time to design an enclosure and decided to start selling them as soon as they had something working. Very expensive hardware with a very short shelf life, it must be quite interesting (and stressful) to design.
According to this calculator [0], in one month, you can expect to earn $20,724.53 dollars (ignoring price changes, difficulty changes, and operating costs). This seems too good to be true, however. Invoking the old adage, "In a gold rush, sell shovels." I wonder what effect all this has on the Bitcoin economy. If everyone begins doing this, then it will become extremely difficult to mine any Bitcoin without any sort…
Why don't they plug them into their outlets themselves?
We build 50, plug them in, make $500,000 in 3 months We build 50, sell them all, make $250,000 in 1 month
But I'm sure they'll have a couple they keep for themselves, and plug in at the same time as the early deliveries arrive.
Why don't they plug them into their outlets themselves?
I'm thinking if someones smart enough to built a specialized piece of hardware like this, they are smart enough to write up an algorithm that tells when to sell the hardware once the commodity hits peak level.
A mass dump of these would too quickly devalue the market since the increase in new Bitcoins would cause inflation.
edit: Ha, obviously they know it by taking Bitcoins and charging €700 difference in the price of one chip between a July & October delivery.
Why don't they plug them into their outlets themselves?
This needs to be repeated every time btc ASICs are discussed: ASIC economics don't work like most physical products, and instead work more like software. For high-performance asics, the costs of design and masks completely overshadow the costs of actually making chips unless your volume is in the millions. To make the first chip costs many millions, to make the next chip costs $15. The most valuable assets they have are the masks. One of the least risky ways of bootstrapping an ASIC venture is to presell enough chips to pay off R&D, and when you can make them for cheap, keep the rest.
Why don't they plug them into their outlets themselves?
Why don't they plug them into their outlets themselves?
Why don't they plug them into their outlets themselves?
That's not how a Ponzi scheme works, which is what Bitcoin is rapidly turning in to. If you don't double down, someone else will, and your hardware will be worthless. Therefore you need to keep spending to keep mining.