Quote from: taipo on June 11, 2014, 11:33:01 PM

Quote from: DolanDuck on June 11, 2014, 09:52:47 PM

Don't invest in mining equipment, it's really difficult to ROI, try the easiest way, just buy bitcoins and hold them long term.

Mining is an addictive habit.

Suggesting miners buy bitcoin instead of miners is a bit like suggesting drug addicts quit shooting crack and take up buying and holding it to resell when the price of crack went up.

Miners that would venture into trading fiat for BTC would probably initially hold until the value of bitcoin jumped enough or some other bullshit artist came out offering an eye popping preorder deal, for example offering a 20 TH/s miner that runs on 1000w, at which point they would drain their BTC wallets, their bank accounts and their mothers bank accounts to get THAT miner, nevermind whether the idea is even feasible, or whether the company developing it is even real.

I've come to the conclusion that due to the callousness of several mining manufacturers that have squandered the investment capital they were handed by way of preorders, that all manufacturers have to face reality of the actions of these few, and stop trying to build their businesses from scratch by tempting investors with overstated claims of machines they say they can develop.

The way to do that is for miners to stop preordering from companies that do not have proven histories. BITMAINTECH is the only company I know so far that have absolutely proven themselves in terms of manufacturing, shipping and upgrading their tech to further improve early flaws, and supplying solid miners without ever preordering. They may not have reached their original goal with the S1, but there is no doubt that it was a solid machine that stood the test of time and was hard to fault in its day.

If that company was to offer a preorder, which I doubt they ever would, people in droves would line up behind them to preorder because they have proven themselves beyond a shadow of doubt.

There is a large void between a company like that and some newbie MinerTechAdvancedDreamland company coming out of nowhere offering a preorder on some hair brained idea of theirs that has about a 5% chance of ever eventuating.

The good manufacturers will like Bitmaintech, never need to offer preorders, I am surprised Spondooleys do, but best just to say no, and wait for the product to actually be available.

I have to agree with you on this. Buying and holding bitcoins is boring and leaves me with limited options. When do I exchange the bitcoins? What if next month the price will be double? With mining I feel a lot more flexible. I have a steady income and I'm somehow limited in doing mistakes by having just a part of bitcoins available and not all of them. If I make a mistake I will have more available in 1-2 weeks.

As for pre-orders I had Jupiters on pre-order, Neptunes on pre-order (refunded now) and now I have SP30 on pre-order. The company and the device are just too good to miss this opportunity and while we are all trying to stay above the difficulty curve I think that this is the best option that I have now. Instead of ordering in stock miners that need more than 1W/GH I preffer to pre-order a miner with less than 0.5W/GH and while waiting sucks and I would love to buy another SP10 I just can't justify buying another miner other than the SP30 right now.

Disclaimer: Yes I have an affiliate link in my sig from which I will donate hashrate to charities and to other bitcoin software developers and I am supporting SP-Tech. Feel free to blame me for supporting a long waited and great company.