This is insane. There is too much mining difficulty already. This would make mining difficulty rise further...it is plain stupid.
Samsung can make huge losses here.
I'll ignore the other debate that's going on at the moment and just point out one thing. If Samsung are merely producing the hardware for sale and not actually using it themselves to mine, they're not going to care in the slightest what the difficulty is. And providing they manage to sell lots of their hardware, they're likely going to make a profit whatever happens to the difficulty. The only people in this scenario who would potentially face huge losses are the miners whose hardware isn't up to spec anymore, along with anyone who tries to sell ASICs that aren't up to spec anymore. Obviously this all assumes Samsung do actually make decent mining rigs, but we'll have to wait and see to know that for sure.
Yep, spot.on. it will be like the D3 or thd obelisk miner which will have a very hard time ROI now.
Obelisk miner will probably never roi. Kodak also gave a ridiculous proposal for mining that puts them in profit and users in likely losses.
Samsug is a huge company and this is juz small business for them.
And that is why it is actually a good thing that we dont have more manufacturers. The most profitable mining time would have beem when bitmain had a monopoly.
More mabufacturers means more machines and since there is a fixed amount of new bitcoin that can be mined every 10mins, that means less profit per miner.
In general, miners are bought 2-3 months in advance. This makes things worst. People will see the profitability as low but somewhat decent and order. By the time the order reaches them, the profit is lower due to difficulty increases. This is made worst when many manufacturers deliver at the same time.... The media will irresponsibly sensationalize mining because they need something to write.
This is not like a normal product where more competition means cheaper prices for consumers and so competition means consumers win. There is a limited amount of coins released every time period that can be earned by evrryone...