Swedish ASIC miner company kncminer.com

Quote from: markm on November 09, 2013, 01:04:40 PM

But it was a custom car! Cars are hardware! Tongue

Oops, not mining hardware though.

So what the heck lets outright ask...

Biomech, are you long bitcoin?

Or did you mean if you had bitcoins you'd blow them on mining gear but don't even have as many bitcoin as a rig cost then or even as it would cost now?

-MarkM-

LOL. Cars are indeed hardware... and computers, etcetera. I like gadgets.

The long form would probably bore the hell out of you. The short form is I went through a series of personal disasters over a few years when I found out about bitcoin, then didn't get in on the beginning due to frankly being overworked and overstressed. I'm slowly digging out of a financial mess, I have a young son and a daughter on the way, and very little resources.

But I want in. Avenger is right for once, I have a boner for something I can't afford. But I can and am learning, and I will get the hardware in time. I tend to think in long term strategy. In my younger days I took outrageous risks, sometimes won big and sometimes lost everything. I regret none of it. I regret the risks I didn't take, which is why I get irritated when people get into something as highly speculative as this and freak when it doesn't get them rich over night. It could, but it was never likely.

As to being "long on bitcoin", I think the experiment will succeed. I think that it is the coolest thing to happen to money since gold, and I want to see it through. I suspect that in a few years, it will be one of the go-to options for preserving your wealth, as fiat currencies are subject to constant inflation (as in the expansion of the money supply, not the political horseshit that surrounds it) and failure, whereas bitcoin has a known limit to it's expansion, and can only become more valuable as both saving and exchange if it succeeds.

A positive ROI in less than a year on something this speculative would be considered fantastic in just about any other venture, and there are many options that will overcome the electric cost if the machines are good. Any good business model accounts for expansion and changes in technology. One thing I never see discussed in custom hardware, or really much at all on the forum, is generating your own power. For the price that you paid for a jupiter, you could put together a solar/wind/battery off grid system that would power it for years, and then the miniscule returns would STILL be worth it. Plus, the cost of electricity is a barrier that's quite a bit further out than a year, most likely. If I did have the money, which I will at some point, that is what I would do. Use the initial returns to buy power generation equipment, then invest in faster or more powerful machines as the money allowed. I would also be working very hard on the transactional end of things.