Post
Topic
Board Hardware
Re: AntMiner S2 1TH/s Miner (1w/GH/s)
by
claudesdad
on 05/04/2014, 20:06:36 UTC
Great, another doomsday newbie who's come here 'save' everyone from themselves and to tell everyone what's what with bitcoin...

I didn't say anything about Bitcoin itself - I said the mining numbers don't work.

I don't see anybody disputing me with some actual numbers.

What I see are people acting just like all the people I talk to on other forums - who think that because Mt. Gox was a disaster - that all of Bitcoin is a disaster.

It's the same mentality just coming from a different direction.

What I see are people who act just like the "investors" I've dealt with over the years who think that Apple stock , or Google stock, or Pets Online whatever stock - will go to $1000 a share,  or the people who think that gold will go to $10,000 an ounce.

Their numbers only work when  you apply a very high bullshit hope and change factor. And that shit doesn't work in the real world.

I said mining doesn't seem to be worth it - if YOU actually have to absorb ALL of the costs - unless the machine pays itself off in 30 or maybe 45 days - tops.  If it goes longer than that - the difficulty increase and NOW - the IRS coming in and wanting to take capital gains taxes - is going to make it a money loser.

Every single miner asic company I've seen - is pricing their machines so high that the buyers will pretty much never get ROI on them.

Prove me wrong - show me the numbers.  I'm fully willing to admit I'm wrong on this - but you're going to have to prove it.