Welp, this is a costly lesson is why not to buy from Bitmain.
i think we all need to face the reality that we're the ones that are doing this to ourselves. remember that bitmain only made the miner. we all chose to buy it and increase the difficulty on our own. everyone wants a piece and therefore pushes the difficulty up and therefore less to go around. in short, we're our own demise.
in the long run, whether it be asics or gpus, it will be a battle of attrition. the ones who can outlast the rest will win. as people turn off their gpu rigs, it increases profits for the other gpu rigs that are still on. same goes for asics as well... the question is who will give up first.
another analogy... gun manufacturers make guns. we buy guns (both good and bad people) and use the guns to hurt other people... so is it the gun manufacturers fault or is it us? i know there's a lot of variables and great depth of discussion here but the fact is that we do it to ourselves.
another scenario... market value and trading... if sellers would just hold strong on their sell books and not panic-sell, coin prices won't drop. of course buyers want to buy low but if seller won't budge, then buyer will have to meet it or the price won't move and that's okay. again, a lot of variables and depths of discussion but the fact is we do it to ourselves whether by choice or consequence.
just my opinion. take it with a grain of salt.
This. Whenever you buy from bitmain it is a pure gamble. Sometimes you win, sometimes you lose. I always tell anyone who is thinking of buying asics or buying new asics from bitmain, make sure you have a bankroll to put up to outlast when if whatever asic you buy becomes unprofitable. People who buy asics that can't afford to be in it for the long run or outlast others are the ones who lose big in this scenario of bitmain asics lol.