The real scrypt ASICs are coming... KnCMiner is in the game now.

Now THAT's a preorder that looks promising!

Hmm... should I use cash or crypto?
Guess it will be time to part with the gpus in 2-3 months before these hit.

Cheap Radeons everywhere!
 
For $10k each I don't see them flying off the shelves...and don't forget every company that promised scrypt ASIC's says they have some miracle 100MH/s rig...yet no one has even come close to producing one yet.
 
It is all still pre-order.

Why doesn't any one ever show pictures or screenshots of prototypes.
 
draksia said:
It is all still pre-order.

Why doesn't any one ever show pictures or screenshots of prototypes.
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Probably because they're basically running their own crowdfunding operation, and don't even know what they look like yet. The fact that they only take wire transfers, and bitcoins, coupled with the "read the terms and conditions carefully" part sounds really promising as well.
 
they could be legit, but they are just as easy scammers.

It takes a few hours to make a very nice professional looking page and setting up a bank account to receive payments.

Sending them $10k - and hoping they can produce something in 6 months... sorry, too much money.

I might get pushed out of the game when asics hit for scrypt.... but I just can't risk that kind of cash on some unknown guys on the other side of the world.
 
Still plenty of time to get ROI before these hit if you jumped in between Jan and March this year. $10K is a bit steep for all but the hardest-core of scrypt miners. Just like when BTC ASICs came out, it wasn't the GPU miners that bought them en-masse, it was big/middle-sized companies or startups that had the means (power, space) to run them.

I love the size dimensions they give "60 x 50 x 20" ........ what? Inches? Centimeters? Miles?
 
collegeboy69us said:
I might get pushed out of the game when asics hit for scrypt.... but I just can't risk that kind of cash on some unknown guys on the other side of the world.
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Agreed that I'd never preorder for that kind of money, but K&C are far from "unknown guys".
 
Parja said:
Agreed that I'd never preorder for that kind of money, but K&C are far from "unknown guys".
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While I have no doubt that KnC's delivery targets are "optimistic", I have far more faith in them delivering their targeted working spec product than I do any of the other players in the game right now. They're saying Q2/Q3, I'm thinking Q3/Q4, either way it's bad news regardless for scrypt at this price point. Absolutely nothing will compete in the consumer market presuming an actual working part happens, and then we're relegated to Scrypt N-factor which really is only niche and could be rather easily adapted to ASICs as well.
 
Even the GPU's I order today will ROI long before that thing ships and if my snowball of funds keeps growing there's no reason NOT to convert to ASIC when the day comes that they're around but there will be GPU mining for at least the rest of the year. People heavily invested in GPU's will simply create new algo's and we'll just keep playing cat and mouse for years to come.
 
So I guess the big question is; should I cash out all my coins & buy as many scrypt miners as possible?

Should I cash out any of my coins? Or just put in another $10k cash?

I could cash out $10k in coins and put in $10k cash to get two of them. hmmm.. decisions, decisions.
 
J Macker said:
So I guess the big question is; should I cash out all my coins & buy as many scrypt miners as possible?

Should I cash out any of my coins? Or just put in another $10k cash?

I could cash out $10k in coins and put in $10k cash to get two of them. hmmm.. decisions, decisions.
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These are all good questions. Give me about 6 months to think on it and I'll have a definitive answer for you. :D
 
J Macker said:
So I guess the big question is; should I cash out all my coins & buy as many scrypt miners as possible?

Should I cash out any of my coins? Or just put in another $10k cash?

I could cash out $10k in coins and put in $10k cash to get two of them. hmmm.. decisions, decisions.
Click to expand...
Ya know depending on the power draw, it might not be a bad idea to dump everything you can into a couple of these, then once they arrive start liquidating your GPU's. You'll take a hit on those GPU's for sure, but I'm betting the power savings will help offset that (even though your power is unbelievably cheap! :mad: )
 
Bonksnp said:
... (even though your power is unbelievably cheap! :mad: )
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$0.069 per kw-hr isn't very cheap when I see my monthly electric >$400 consistently.

I liked my pre-mining months of electricity around $150 for regular use. :)
 
100mhs for 10k is a hell of a deal. 10k buys me 3 quad 290 rigs @ ~11mhs or 50 Gridseeds @ ~18mhs.

I imagine the pre-orders for these things would be i-n-s-a-n-e.

All of that aside, this will only mean that Scrypt will become the new SHA-256.

Scrypt-N/Jane, please stand up!
 
J Macker said:
$0.069 per kw-hr isn't very cheap when I see my monthly electric >$400 consistently.

I liked my pre-mining months of electricity around $150 for regular use. :)
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Well, that would be about $900 for me then, so quitcherbitchin'! :p
 
Parja said:
Well, that would be about $900 for me then, so quitcherbitchin'! :p
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LOL. Yeah, but It's tough to fit in the monthly budget. I haven't cashed any coins yet, so it's all coming out of the paychecks.
I'm jealous of some of the bigger guys, like the [H] gpu editor, David. Supposedly he's got a pretty big setup.

Reddit thread for the KnC Titan:
http://www.reddit.com/r/litecoinmining/comments/20sufo/knc_introduces_scrypt_miner_titan_100mhs/

Somebody there said there are already 600 preorders. damn... I won't have enough cash in my bank account until Mon-Tues. I hope it doesn't sell out.
 
J Macker said:
So I guess the big question is; should I cash out all my coins & buy as many scrypt miners as possible?

Should I cash out any of my coins? Or just put in another $10k cash?

I could cash out $10k in coins and put in $10k cash to get two of them. hmmm.. decisions, decisions.
Click to expand...

all I can answer with is my own experience

sold 100BTC at 13 to "hedge" my BFL purchase... ...


yeah, wish I had not
 
As Dave Mustaine once said...

Hindsight is always 20/20. But looking back, it's still a bit fuzzy. :D
 
jojo69 said:
all I can answer with is my own experience

sold 100BTC at 13 to "hedge" my BFL purchase... ...


yeah, wish I had not
Click to expand...


Ouch! Had you bought BTC @ $13 instead of the miners you'd probably be MUCH better off.
That's just as bad as my coworker who spent 80 BTC @ $150 for a 2Th Cointerra pre-order.

I'm thinking just put in another $10k cash. But really, buy coins or a miner?
 
I say buy coins. Almost every ASIC miner purchase has been a bad investment, the only exception was Avalon batch 1 or 2. I'm not expecting this one to be any different.
 
Buying any crypto with fiat is a terrible risk. I personally would not be able to sleep at night.

I go miner route because at least my fiat invested in the deal is placed into computer hardware.

My hardware doesn't evaporate if the market blows up.
 
Why do I feel like the skyrocketing LTC difficulty is because these things are on the network already?
 
I think the huge LTC difficulty this week is due to the Ghash.io exchange trying to grow their LTC pool.

Guaranteed 125% profitability. I think the LTC diff will drop after they stop the promo in another day or two.
 
Just be sure to trade out your LTC's while they are high. They took a dip today but might go back up .033 or higher.
 
Yea, I'm changing my tune. Look at BFL miners. Those 50ghz miners that we're several thousand dollars? Now virtually worthless.

Going the Asic route seems to always be a race against difficulty. If you're able to get in super early and get pond running before difficulty adjusts to the rest that come on in the following weeks, you should be able to justify the purchase and anything after that is just gravy.

Didn't you order a couple of those TH miners from hash fast?
 
.033 would be nice. Last time I traded though, I lost out big; traded a boatload of LTC for btc when it went up to 0.012.

With my luck, it would go to 0.08 or higher if I traded it out.
But if I don't trade it, it'll go back down to 0.02.

@ Bonksnp,
No, I don't have any hashfast units. But I do have two Terraminers chugging away.
I've got a serious buyer lined up for one on sunday. So with the current BTC earnings from running two rigs for 3 weeks, and selling one for decent profit, that effectively makes ROI for those two. Now the BTC mined with my other Terraminer is all profit.

I figure it's a safe bet to sell one Terraminer while their price is still high. People are paying $9-10k on ebay. $10k is too much, imo, but I'd be spending another $800 on electric & $500 on ebay fees; so it makes sense to sell for less than $9k. Then I don't have to deal with the heat
 
I'm thinking I might switch a rig to pure VTC. That seems to be growing in popularity and the profitability was at 150% (selling right now). Seems to have the most traction to supplant Litecoin as the GPU coin once these roll out.

As far as paying $10k. I read an interesting article the other day that basically came down to: If you can get in on batch 1 and mine for approximately 30-45 days before selling it, you'll make the most money. The subsequent batches drive the network hashrate up (difficulty) and the resale value down. So you're trying to squeeze inbetween the two. Rinse-repeat for each new (faster) model.

J Macker said:
trade it, it'll go back down to 0.02.

@ Bonksnp,
No, I don't have any hashfast units. But I do have two Terraminers chugging away.
I've got a serious buyer lined up for one on sunday. So with the current BTC earnings from running two rigs for 3 weeks, and selling one for decent profit, that effectively makes ROI for those two. Now the BTC mined with my other Terraminer is all profit.

I figure it's a safe bet to sell one Terraminer while their price is still high. People are paying $9-10k on ebay. $10k is too much, imo, but I'd be spending another $800 on electric & $500 on ebay fees; so it makes sense to sell for less than $9k. Then I don't have to deal with the heat
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I would consider trying to sell it on a forum privately. Why? IIRC, Ebay reports anything above $5k/yr to the IRS. At that point, you have to go through the hassle of proving the initial expense on your taxes to counter-act the "income" being reported.

Just saying.
 
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The only thing y'all need to consider is this: why would a company sell a printing press when they could run it themselves and make a profit?

Be wary of the person offering to sell you a printing press!
 
Tytalus said:
The only thing y'all need to consider is this: why would a company sell a printing press when they could run it themselves and make a profit?

Be wary of the person offering to sell you a printing press!
Click to expand...

Money up front and considerably less risk. 10k now or maybe 15k in 6 months. Now I am sure they thoroughly test units before they are sent to customers.
 
Tytalus said:
The only thing y'all need to consider is this: why would a company sell a printing press when they could run it themselves and make a profit?

Be wary of the person offering to sell you a printing press!
Click to expand...
There's power, cooling and some maintenance involved. I don't think they'd be able to manufacture tons and have the resources to run them all.

But im pretty sure they run their own farms as well. Last I checked, knc was at the top of the btc mining list.
 
draksia said:
Money up front and considerably less risk. 10k now or maybe 15k in 6 months. Now I am sure they thoroughly test units before they are sent to customers.
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...they are thoroughly testing how gullible people are as they use each miner until they are unprofitable, then ship it out to people who fronted thousands of dollars for the privilege of using a piece of hardware that's no longer worth the price of admission.

Again: nobody sells you a printing press, it just doesn't make sense to do so. These are quite literally printing presses. You have a dream, they want your money, so they're going to take your money now and some day they'll fulfill your dream, even if the profitability of your dream is highly suspect due to the timeframes involved.

Bonksnp said:
There's power, cooling and some maintenance involved. I don't think they'd be able to manufacture tons and have the resources to run them all.

But im pretty sure they run their own farms as well. Last I checked, knc was at the top of the btc mining list.
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Power/cooling/maintenance are trivial. It's the cost of running the printing press--of course they will be running them, there's no incentive not to! They're likely running them right now (if they even exist) and will definitely skew the timeframes to achieve maximum profit before pawning these units off to the masses once they've maximized their profit.
 
J Macker said:
LOL. Yeah, but It's tough to fit in the monthly budget. I haven't cashed any coins yet, so it's all coming out of the paychecks.
I'm jealous of some of the bigger guys, like the [H] gpu editor, David. Supposedly he's got a pretty big setup.
Click to expand...

Not a big setup. I've just been mining on 2-4 cards fairly consistently over the past 3 years.
 
atp1916 said:
Buying any crypto with fiat is a terrible risk. I personally would not be able to sleep at night.

I go miner route because at least my fiat invested in the deal is placed into computer hardware.

My hardware doesn't evaporate if the market blows up.
Click to expand...

If you are buying GPUs then yes I agree. But these ASICs only have one purpose, they'd be worthless too if the market blows up.
 
Tytalus said:
...they are thoroughly testing how gullible people are as they use each miner until they are unprofitable, then ship it out to people who fronted thousands of dollars for the privilege of using a piece of hardware that's no longer worth the price of admission.

Again: nobody sells you a printing press, it just doesn't make sense to do so. These are quite literally printing presses. You have a dream, they want your money, so they're going to take your money now and some day they'll fulfill your dream, even if the profitability of your dream is highly suspect due to the timeframes involved.



Power/cooling/maintenance are trivial. It's the cost of running the printing press--of course they will be running them, there's no incentive not to! They're likely running them right now (if they even exist) and will definitely skew the timeframes to achieve maximum profit before pawning these units off to the masses once they've maximized their profit.
Click to expand...

Yep, they test them until they only have another month or so of profitability, then sell them and start getting ready to run their faster replacements :)
 
Tytalus said:
...they are thoroughly testing how gullible people are as they use each miner until they are unprofitable, then ship it out to people who fronted thousands of dollars for the privilege of using a piece of hardware that's no longer worth the price of admission.

Again: nobody sells you a printing press, it just doesn't make sense to do so. These are quite literally printing presses. You have a dream, they want your money, so they're going to take your money now and some day they'll fulfill your dream, even if the profitability of your dream is highly suspect due to the timeframes involved.
Click to expand...
I'm not sure what your argument is here. Are you saying they likely done exist or if they do don't perform as advertised?

KnC has already shipped out many BTC asics that perform as advertised and many people have benefited from them, including myself. They're a legitimate company. The real issue, is if you can get them early enough to generate a profit before difficulty skyrockets, which I pointed out a few posts above.


Tytalus said:
Power/cooling/maintenance are trivial. It's the cost of running the printing press--of course they will be running them, there's no incentive not to! They're likely running them right now (if they even exist) and will definitely skew the timeframes to achieve maximum profit before pawning these units off to the masses once they've maximized their profit.
Click to expand...
I guess we'll have to agree to disagree. I'm not sure what your crypto currency/mining background is, but those are not just things to throw money at and expand forever. Not to mention even if they did just use them all themselves, at some point they'll reach a critical mass where they eventually have so much to maintain/supervise that it becomes a liability. Not to mention how fast these drop in value. You also have to account for teardown, scalability.......just alot of things I think you're not thinking about.

And then theres the whole diversification point of view....

Oh and the 51% issue...

Again, I guess we'll agree to disagree, but I'm quite sure they will exist and get shipped out to everyone who orders them.
 
atp1916 said:
Buying any crypto with fiat is a terrible risk. I personally would not be able to sleep at night.

I go miner route because at least my fiat invested in the deal is placed into computer hardware.

My hardware doesn't evaporate if the market blows up.
Click to expand...

whoa, this is dead wrong imo.


You should awlays be trying to pay fiat instead of crypto imo when preordering. Refunds/buyouts are far simpler, ROI calcs are far simpler, and youve insulated yourself against the potential of rising value of the crypto you paid, which when dealing in altcoins is immensely more valuable than say btc.
 
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