Ask HN: Is a Bitcoin ASIC miner a good investment for now?

https://news.ycombinator.com/item?id=5512914

by Cardeck1 • 13 years ago

10 7 13 years ago

news.ycombinator.com

Is an ASIC miner a good investment right now?I mean, I was checking the websites that are selling them and many are out of stock.

Or should I say, are these miners a sure investment at least for the moment?A friend bought an ASIC miner a month ago and he sold 100 or something BTC for 16-18.000 $.I'm not calling my friend a liar but it's kind of too easy.I mean you just buy the ASIC, you wait for a month and then sell it for a sum like that.Sounds...interesting.

It's just I am having some doubts about this.Sounds too good to be true.Buying an ASIC and getting rich...It can't be that easy to make money even though I see the word "bubble" in the BTC topics.

By the way, I don't know much about BTC so if I am off the road, correct me.

Jeremy1026• 13 years ago

"By the way, I don't know much about BTC so if I am off the road, correct me."

Then no. It is not a good idea to buy anything related to BitCoins. If you don't understand the technology, don't invest in it.

johnmurch2• 13 years ago

At this point I would say you are better off just buying bitcoins rather than a rig. It's only going to get harder to mine and yes you will be more efficient/faster than most but it's a losing game. Although I do have a miner and already pre-paid for an ASIC rig - I wish I had just bought BTC with the money as there will only be 21M btc ever!

Cardeck12• 13 years ago

How come it is better to buy BTC?I mean it is trading at 180 right now.If I were to buy 15 BTC for example, I would have to pay 2700 while a good ASIC would mine 15 in a couple of days with a much higher value.Then again, maybe I don't understand it but that's how some of my friends do it.

Of course it is gonna be harder but I am talking about the next 2-3 months.

johnmurch2• 13 years ago

The real question is can you get an ASIC miner today or in a few days? I prepaid mine back in November and still don't have it. If you can get one, do it - if you are just planning to order now - your already behind.

Over the next few months ASIC miners are going to be everywhere so the mining rates will be harder as everyone will have an ASIC miner. Just look at some of the pool rates over time - it's like when people realized you could use graphic cards rather than just a CPU.

jlengrand• 13 years ago

What kind of computer do you have? I checked a few days ago, and had the chance to have one of the "ok" GPU for farming. With the current prices, you get more value in bitcoins than the power consumption it uses. You won't sell for 20k for sure, but you can end up with a few bitcoin within months. Most of all, it will give you some awareness about the whole thing.

I like everyone buying farming stuff right now, because they are part of the huge current valuation of bitcoin. And as the number of bitcoins is fixed, it can only go up.

Ask HN: Is a Bitcoin ASIC miner a good investment for now?

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