Post
Topic
Board Beginners & Help
Re: Is most ASIC mining a scam?
by
Alvara80
on 10/12/2013, 15:30:37 UTC
The problem with block eruptors is that the cheap ones aren't so cheap anymore. I bought 8x 333 MH for between $24 and $33. There was a time they were cheaper. It's taken me a couple weeks to pay off even one of them.
Now they are upwards of $70 or more. Haven't looked in a couple days. I'm contemplating resaling them and just buying btc's. lol

The 2+ GH ones are a little pricy.

Now if you had really wanted a cheapish asic. BFL had a sale on Black Friday, that you could have had one for ?20%? off that was guaranteed to receive by xmas. Their old models. Supposedly they are completely caught up on pre orders at the moment for last years model. I'd be wary buying the 50GH but the 5 GH that you could have briefly got for ~$200 would have been nice. 5 GH seems to be no longer available.

The final thing you need to understand. If all the release schedules come true. At the end of February and into March. The difficulty will go through the roof. So these baby asic's are not going to be good for much.

Reasons to run an asic miner even at a slight loss is a philosophical reason. Due to the nature of the algorithm, someone could take over the network if they get more than 50% of the hashing rate. If they chose. So you buying and running even a cheap asic is your own little contribution to make sure it doesn't happen.

I preordered the Black Arrow Prospero X-1 (100Gh/s) from http://www.minersource.net/mining-hardware/

Regards.