Post
Topic
Board Pools
Re: [450 TH] Slush's Pool (mining.bitcoin.cz); TX FEES + VarDiff
by
J_Dubbs
on 27/01/2014, 02:30:24 UTC

Terribly expensive...
Typical "looking for the greater fool" sale (approx. less than 60% ROI)...

I think by now it's safe to say it's impossible not to get a "greater fool" sale on EBay, as well as any shipping-ready low-end/medium-end hardware from a manufacturer. The only people making money there are the resellers.
Nothing on the market (ready-to-ship) seems to be even remotely able to ROI.
Everything else (high-priced pre-order gear) is the usual gamble.

IMHO if you have 900 quid to spend, buy BTC directly at a price you deem attractive.

I agree. During the gold rush those making the most money were those selling the tools. With difficulty shooting for the moon the 10 GH/s blades I'm running will be obsolete soon. Anyone paying more than $10 a G/Hs is sure to loose money.

You know this thinking is fundamentally flawed, right? "Anyone paying more than $10 a g/his is sure to lose money". Under-schooled message forum economists have been saying that for months now, but the truth is nobody knows the future value of BTC, which if trending upwards blows your entire theory out of the water. Buying in BTC is one thing, and mining versus trading carry opportunity costs as any decision does, but you put it in terms of dollar returns and it's entirely based on a future value unknown. The misinformation is so widespread here I know it's pointless to try to enlighten folks, but if BTC goes up in value a lot of people will find themselves wearing The Emporer's New Clothes, hope you like the fit.