ASIC-and, is it worth investing in the purchase of boxes that make money?

For those who have only heard about the existence of magic boxes that make money, generating cryptocurrencies, and are ready to run headlong to the bank for loans, I hasten to cool your ardor a little and save your nerves and money in the future.

I will reveal to you a terrible secret - any such devices sold are unprofitable.

... in the cryptocurrency they mine! This is a very important point, on the misunderstanding of which you are deceived by their sellers and manufacturers, but more on that later.

Once upon a time, four years ago, the first asik created by Avalon for mining bitcoin, by happy coincidence (their manufacturers were simply not experienced and / or were mistaken with the calculations) brought fabulous, tenfold profits to their customers, and then we are talking about first September September 2012, but all the following were either unprofitable or on the verge. The next manufacturer, which allowed its customers to make a profit (about 30% for half a year, and the cost itself fought back in the first months, and then there were mere pennies that you shouldn’t pay attention to) - it was bitfury.

And these were the only cases when the buyers of these devices earned income from mining! At best, it was possible to recapture their investments and even get into a small plus by selling this device as quickly as possible at an inflated price, but not everyone could have done it.

And how do manufacturers cheat us?

This is very simple, especially when it comes to the only equipment manufacturers for a particular cryptocurrency, or one whose production capacity forms a significant part of the power of the entire network. The manufacturer knows how many devices and when it will produce and when they will be launched. It is not difficult if you make these plans yourself, and buyers carry you money in advance for 3-5 months, hoping to get into the very first batch first. Then, using simple school mathematics, it calculates how much and for how long all these released devices will generate cryptocurrency.

A small educational program - currently, absolutely all cryptocurrencies, bitcoin and altcoins, are mined according to the following rule - the number of coins mined is approximately constant, moreover, almost everyone’s mining speed decreases in order to get a fixed coin issue by the end of a certain period. In bitcoin, for example, about once every 4 years, the number of mined coins drops sharply by half. To achieve this, the complexity of the problem solved by all miners automatically adjusts, and as the total power of the miners increases, the complexity immediately increases. Thus, if the network mines abstract 1000 boxes and produces 1000 coins per day, giving each one by one, then if you produce another 1000, then the amount of each mined will be 0.5 coins. This process is not intermittent, spread over time, where there is more growth rate, somewhere is less, everything will not work out, it depends on the work of customs and delivery services, plus the manufacturers themselves do not instantly give out devices.

So, the manufacturer knows exactly how much the box he produces will at best generate coins, and puts out exactly as much or even more in his shop

... taking into account the cost of electricity, the risk of breakage and maintenance costs. I remind you that the calculation goes in the cryptocurrency that this device extracts. Of course, in the store, you will see the amount in fiat currency, for example, dollars. In fact, manufacturers are much smarter, the experience is already gained good. Since manufacturers are usually quite rich, additional manipulations with the rate of this particular cryptocurrency are possible at the time of placing lots for sale, you just need to hold the high cost, or rather growth, a few days, a maximum of a week. Or just wait for such growth, when some large stock exchange or market maker pimp it. It is also known that almost all significant altcoins somehow grow with the growth of the main one - bitcoin, and fall with its fall, not immediately but on average, when assessed in a few months.

It all depends on how the buyer behaves. Usually, when he sees the price of a device for mining, he goes to Google, and searches for the first profit calculator (bitcoin profit | mining calculator), drives in the device parameters and gets a beautiful sign - income per day, per week, month and year. He sees beautiful numbers, the device beats off for three months, and then it will bring a lot more, and with squeals joy goes and pays the money. Slightly smarter, click on several links, find a calculator on smarter, taking into account the growth rate and complexity, and there are also beautiful numbers, maybe a little less but also green, returning investments in 6 months. Even smarter, read reviews of previous buyers, as they are overcoming difficulties and struggling with noise and dust and a broken cooling system, earned income after the first 9 months - in rubles / dollars, and the mined immediately dropped to buy another device. Of course, in the head of such grief investors are spinning - and where you saw that the income was immediately - you need to work, and still carry and carry money.

Cases where the first buyers receive a small income, on the verge of inaccuracies in the calculations of manufacturers' estimates. This happens when there are several manufacturers and they could not agree with each other normally (the first companies, according to rumors, agreed on the volumes of output, but then, as is logical, someone threw the whole gop company, and now there is pure anarchy), and then if the evaluation error was down. This is normal - instead of wasting time and energy on the organization, building and maintaining gigavat data centers to host their devices, simply selling them, even with a little less income, is not a problem, then you can release the next batch. More specifically, the mining equipment manufacturers, the same miners, come to this market with plans to mine on their own, and someone even holds a certain percentage of their capacities, because this is their investment support, literally - miners determine the future of cryptocurrency, decide on whether to make changes to the protocol and standards or not. Just the mind wins - the risks need to be diversified, and transferred to others.

Cryptocurrency mining device never idle

And it is logical, it would be foolish to just keep these truly magical devices in stock. Therefore, the producers of mine before sending to customers, the first of them scorched the terms of mining, indicating in the default settings the parameters of their accounts in the pools, where the statistics of the work is public. Sometimes these terms were so long that they showed how the manufacturer received an income that exceeded the value of the device already sold to them, simply delaying the shipment for a week or more. Be prudent, now manufacturers do the same, just hide their activities better.

Why it is important to consider the cost in cryptocurrency or even bitcoin and not in dollars

Because there is another simple way to earn income in fiat currencies - speculative trading, with the purchase and preservation of cryptocurrency, and more often it is bitcoin for a long time - a year or more. If you want to receive income from activities in cryptoeconomics, you should compare them with this method. And since, so far, bitcoin is constantly growing, it makes sense. Therefore, if you are thinking of earning income due to the growth rate, just buy this cryptocurrency and wait for its value to rise.

What other risks and costs, if all the same to engage in mining

First, it is the delay in receiving the device. In addition to unscrupulous manufacturers sticking to their devices, there is also a delivery service and customs. They create major problems for domestic miners. The latter may not even miss the device at all, indicating the lack of notification - almost all devices do not have it, and it doesn’t matter if there was even a manufacturer who spent the time and the potential income of miners to get it for Russian customs, no one benefits brought

Secondly, the costs, in addition to electricity, also require cooling the room - and this is either quite expensive air conditioners or hot air exhaust systems, and hence the supply of cold air from the street, filtered from dust and insects. It is also the cost of the room itself, since at home, next to the bed, very noisy and even dangerous for the body boxes can not be held (very harmful dust, which is chopped by coolers of the cooling system, it is passed into the lungs nose, because very small, when you have one computer - it’s not scary when you have a dozen of them and you breathe it all the time ...).

Thirdly, it is maintenance costs. Coolers of the cooling system, depending on the temperature, fail and need to be replaced - this is considered a consumable. Power supply units also break down, not often but enough to pay attention to this in calculations. The boards themselves also break down, which may also require a response from the owner, sometimes it is disabling the failing board, sometimes repairing it by replacing a burned-out item — this requires at least a specialist whose time and knowledge is not free.

Fourth, you can ignore the problems associated with the cryptocurrency itself. For example, during the year you receive small payments to your wallet, and then, when the dollar amount becomes sufficient to assume that you are out on income, you are going to transfer the entire amount to the exchanger and receive, suddenly, a commission that is comparable or greater than all your money in the account . You frantically start to study the question, and it turns out that you have a lot of dust and your transaction weighs too much in bytes, but now bitcoin has big organizational problems and transactions are very expensive.

Why are there people who claim to receive income?

Because they count in fiat currencies, and the exchange rate just jumped.
Because they "steal" electricity and do not pay rent for the room in which they hold their asiki.
Because they trade in the extracted cryptocurrency, it seems to be successful if they have income.
Because they want to sell you this device and really end up getting income at your expense.


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