Quote from: Rampion on June 17, 2013, 11:35:25 AM

Quote from: Bitcoinorama on June 17, 2013, 11:25:21 AM

Quote from: retro72 on June 17, 2013, 12:58:14 AM

Thanks for the info Bitcoinorama and all the other folks that contributed. I think I've made up my mind about KnC and asic purchasing in general.

The way I see it. The arrival of asics in rapid and large scale as Knc and several others propose will kill profitability in the short to medium term. People who have invested thousand of dollars in asics will try to dump their bitcoin as soon as they mine it to pay for their investments before the dif goes through the roof. This will create a buyers market and the price of btc will plummet.

The smart players and long term investors will hoard and bottom feed but they will be the few. Many many more will sell as long as its still profitable for fear of losses. Unfortunately human nature being what it is a lot of people have jumped in feet first thinking this would be an endless source of easy money, probably going into debt to fund it. They will be the first to panic and flood the market with cheap coin. This will probably start a snowball effect that will collapse the market for months until things level out. The proverbial "fire sale"

And when the dust settles the time for small miners will be gone. Unless you are willing to constantly upgrade and treat this as a business you will eventually have a nice warm metal brick sitting in your garage. Bitcoin will be dominated by those with deep pockets and ebay will be flooded with cheap asics.

This might sound alarmist but this has a similar feel to the dotcom and housing bubbles that many people lost their shirts in. People saw a rising market and jumped in without looking at the fundamentals betting more than they could afford on the promise of easy cash. Not that long ago btc was at $260 probably for the same reason. Fools rushing in.

Personally, I'll just keep my renderfarm (12gh) chugging away at ltc and leave asics to the gamblers, for now.

I think this is a hugely important post. I have answers to your Q's to add later. I'm just waiting on Daggeteo to give me a green light on video...

It would be very useful to have an estimate on how many TH/s KnCMiner is planning to ship & deploy from September to the end the year. This is a very important point, as in the mining business if you deploy too many TH/s you are actually killing any ROI possibility for all your customers. I hope they have a plan to protect their customers investment - please advise.

I did ask and they said their customer's ROI is a priority. They can only sell items that give a return. That their pricing has never been too cheap, it's a case of predicting future global hashrate. They said they have a few options to make sure customers get a return.