Re: [2018-01-30] Samsung Enters `Mass Production` of ASIC Miners
12.5 btc is released every 10mins. There is a LIMITED amount of btc that can be mined. More machines just means less btc per machine. So, it does not become more profitable to mine lol. It becomes less profitable.
And if there were MORE manufacturers, this means more machines are pre-ordered and more machines will be deployed after 2 months have passed......thats not good.
Right now, difficulty will continue to increase because pre-ordered machines from 2 months are coming online.
If Samsung were operational ans had taken orders 2 months ago, more would be deployed now.....thats not good.
I see you're still busy being a retard.
Fees will supplant the block reward, so the halving won't have the disasterous effect you think it will.
How did you even get involved in this space anyway, you seem too stupid to understand even a small fraction of it.
He is not a retard, he just wants to protect his income.
Screw free market, screw anti trust laws, forget about the whole purpose of Bitcoin.
He even suggested that we should have an OPEC of miners. (check his threads in mining speculation)
This is just greed beyond the levels the usually retards here can spawn.
They finally realized it's a business for them, should they realize that a few years earlier, the market is all theirs.
The timing? were they waiting for BTC to crash, the way it has now.?
With all their resources, and this is the best they can do.
Do they know something we don't.
There was no timing!
Chips are not made like Chips
It takes months from the start, planning till you actually have the wafers ready and build miners.
I am not protecting my income. I am being realistic. It is either a certain amount of miners function and some profit can be made OR there are too many miners and 80-100% of miners dont break even. This happens in all oversupplied markets. If there is oversupply, new miners will just not break even. An OPEC for miners would make sense. And it is not just OPEC. There are many other organizations that do similar things to have a market make sense...on things like control catch rates in the sea to prevent overfishing from killing fish populations. This is despite fisherman wanting to catch more to earn more, etc. There is even a federation for maple syrup lol. And imo, organizations like OPEC are kinda needed to ensure that oil is properly supplied to the world. They need to calculate how much to invest in infrastructure because it take a year before any new oil actually comes online...etc.
Check out dash mining now. There are too many ASICS and in general, no dash miner can profit. There is a 5k+ usd miner that makes 200-300 usd or a 1.4k miner that makes 25-100 usd a month. If price does not increase drastically, all miners will not not break even. There is no guarantee dash will rise. Dash difficulty has been DROPPING as it is https://www.coinwarz.com/difficulty-charts/dash-difficulty-chart because it is not profitable for some miners to run them when dash is at this low price. The difficulty will rise and miners will come back online if dash price rise later.
Too many asics on btc and it will be just like dash mining. U yourself wouldnt want to go into mining today and if it can never break even...
Look at current rates. With an S9, u can get 250 USD monthly if u have 0.05 USD electricity (a super cheap rate which most people dont have), and it cost 2,320 USD. That means 9+ months to break even, assuming rate remains the same, and this is without shipping and VAT cost yet. It will in general take 10-12 months with that and longer if u have higher electricity cost. U only get 6 months warranty, so, the other 3-6 months are at your own risk.
This is for those who ordered the machines 2 months ago, and these people ordered because they saw the profit rate at around 1000 usd per month. Btc has halved but mining profit has gone down 4 times due to difficulty increase. Thats a major difference in juz 2 months. There are stronger machines coming out this year from canaan and avalon, and greater interest in mining due to media coverage. Thus, the difficulty spike should get worse. There are even idiots rushing to get into kodak's horrible mining contract.... due to media coverage and cryptomania.
Look man, satire illustration - we can have 400,000 happy miners that make some profit by taking some risk or 800,000 grumpy angry miners who will never break even, be sad daily, and will regret the day they ever lay a hand on a miner.