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Now there's several good reasons why the difficulty will -not- get to 7 billion with the price of bitcoin at $125. There's ROI to think about, the cost of hardware must be amortized in, which means the difficulty is actually very likely to level off at more around 2 billion or less.
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Now there's several good reasons why the difficulty will -not- get to 7 billion with the price of bitcoin at $125. There's ROI to think about, the cost of hardware must be amortized in, which means the difficulty is actually very likely to level off at more around 2 billion or less.
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You're ignoring that:
1. Miners pre-order their gear months in advance, so the gear ordered today is *locked in* -- it will mine even if it makes pennies over power cost.
2. People are bad at math -- they will continue to come up with "but bitcoin will be worth moar" arguments & mine at a loss.
3. Even when people are given a chance at a refund (the case with KNC?), they don't use it -- even when all evidence tells them to do so. Some yet unnamed gambler's fallacy, i guess.
4. People bought & are still buying USB miners -- case in point.
So you think it's better to buy BTC than mine them and end up with the same number of BTC or slightly less?
I assume that's the argument you make in point 2?
If you want to make money? Definitely. If you want to mine for fun -- buy a rig & mine, but don't lie to yourself & others that ur making monyz.
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Then you make the point that people are still buying USB miners, which goes and demonstrates that your own logic is poor and possibly your maths too since if people will pay for a USB miner don't you think that Jupiter might just sell too? Assuming you don't use it to mine something else that is.
Selling a Jupiter after it's broken even would beat buying BTC by any maths ..and if a gamble on the price of BTC was the prime motivation then trading with some leverage would make more sense than simply buying and selling them with the fees and faffing about that can entail.
Selling a Jupiter after it's broken even would beat buying BTC by any maths ..and if a gamble on the price of BTC was the prime motivation then trading with some leverage would make more sense than simply buying and selling them with the fees and faffing about that can entail.
Slowdownthere, Tiger. Yes, people are buying USB miners, which shows that people will mine at a loss -- the point i attempted to make. And made. Presto!
If you are buying a rig to sell to a greater fool, you might well succeed -- there's no shortage of fools here.
If you feel that buying BTC is gambling and pre-ordering miners beats it "by any maths," you lack understanding of maths, BTC, mining, gambling, or any combination of the above.
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There's another option some people with a little sense may have planned too. Buy 2 rigs, instantly sell one and keep the other(s)...I'd bet that would work out well for day 1 people. Best of all probably. That's also what I'd do instead of cancelling.
Another gambler's fallacy -- why sell just one of the two instead of both, if mining with them is unprofitable? Why not keep them both if it is
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I wasn't aware that the chance of a refund from KnC had expired, and I know they aren't late on delivery yet...so point 3 is bollocks too, why would anyone get a refund when they only just ordered and so far nothing is awry...and they still have that safety margin to use? People looked at the possibilities and decided to order a rig, until their minds are changed by something more concrete than trolls "evidence" they have no reason to jump ship. None of us know for sure what's going to happen in the next six months, it's all best guess based on past performance and promises from various manufacturers.
I have never suggested that KNC's refund window has closed -- has it? Point 3 stands -- you have a chance at a refund, you talk about a hence-to unmentioned expiry date, and... You don't ask for the refund. Case in point, see?
Finally, you're right -- none of us know anything for certain, but those of us blessed with the gift of reason can make sound predictions. U, of course, are welcome to ignore those.