I'm a Bitcoin noob, and I was digging ebay auctions (mainly EU).
I don't understand why ASICs sell at a price well over profitability.
I used this calculator: http://bitcoinwisdom.com/bitcoin/calculator
Each bid price always escalate, with tens of bidders. People currently ends buying Red-Fury 2.5 GH/s at 80 Euro, Bi-Fury 5 GH/s at 160 Euro, and so on. For example:
http://www.ebay.it/itm/Bi-Fury-BiFury-USB-Bitcoin-ASIC-Miner-bis-wahnsinnigen-5-GH-s-Sofort-Lieferung-/251434458313
Assume having already in hand 5 GH/s. With difficulty increment step of only 30%, zero electricity cost, zero pool fee, it will never gain more than 40 Euro maintaining current BTC/EUR exchange rate.
IMHO:
1. ASIC buyers feel BTC will skyrocket to more than 10,000 USD.
2. ASIC buyers mine some weeks, and then resell the hardware, so they hope to end with a profit from sell+mining-buy.
3. Buyers are antique collectors
Or maybe there is something a noob can't understand.
Any hint?
Thanks,
Piero
I don't understand why ASICs sell at a price well over profitability.
I used this calculator: http://bitcoinwisdom.com/bitcoin/calculator
Each bid price always escalate, with tens of bidders. People currently ends buying Red-Fury 2.5 GH/s at 80 Euro, Bi-Fury 5 GH/s at 160 Euro, and so on. For example:
http://www.ebay.it/itm/Bi-Fury-BiFury-USB-Bitcoin-ASIC-Miner-bis-wahnsinnigen-5-GH-s-Sofort-Lieferung-/251434458313
Assume having already in hand 5 GH/s. With difficulty increment step of only 30%, zero electricity cost, zero pool fee, it will never gain more than 40 Euro maintaining current BTC/EUR exchange rate.
IMHO:
1. ASIC buyers feel BTC will skyrocket to more than 10,000 USD.
2. ASIC buyers mine some weeks, and then resell the hardware, so they hope to end with a profit from sell+mining-buy.
3. Buyers are antique collectors
Or maybe there is something a noob can't understand.
Any hint?
Thanks,
Piero
again, not everyone is good with calculation and bitcoin difficulty, if you tell them they are going to earn blablabla bitcoin they will believe...