No they didn't they paid for a product priced in dollars
no. I paid over 85
BTC for Jupiter (with VAT and shipping) via BitPay. I also paid for PSU (220$). so now I have to mine at least 85
BTC to get my investment back + pay for electricity (0.25$/kW).
do you think that I will get my BTC back and earn something, if I will start mining last day of September? You have got here answer for every question, so please answer this.) thanks.
Hi Xialla, I'm not entirely sure why anyone here would pre-order a product that mints Bitcoins with Bitcoins when the entire premise behind supporting the currency is the belief that overtime Bitcoins value will increase, which to be fair in the past three months it has gradually (after the media hype caused speculators to jump in and out). Furthermore you know my stance on pre-orders and secure payment choices. So personally I feel 85BTC was worth more to me three months ago than $7k +VAT.
In addition, why would you pay in BTC when you would have to pay VAT which could be avoided by registering yourself as a business, and having the mining equipment as a legitimate hardware expense, and the VAT on electricity back as a legitimate running cost?! It makes no sense. In essense I just wouldn't have paid for the equipment in BTC. Will you make $7k's worth of BTC back over time before the product becomes more expensive to run than it mines? I confidently think so, but no one can foresee the price of BTC in the future. Will it mine 85BTC? I cannot say, but based on the fact the compounding of network hashrate just cannot keep multiplying the way the calculator alludes to, month in, month out through to May, or June when the unit would supposedly be less profitable to run than the electricity costs (should BTC remain stable)
The Genesis Block calc is way out of touch with reality. There will be a large explosion in hashrate when KnC deliver, after which it will plateau before any additional increases by KnC and any other manufacturers when/if they are successful will create spkies and plateaus, just not have the same substantial effect as the first 28nm shipment unless they can continuously double the network which they won't. Thus it cannot be an exponential curve. I've written to the guys behind the Genesis Block about this, and they replied agreeing with me, I suggested some improvements and they said they would make them, but had other more pressing issues currently. My gut feeling is they won't. I believe they like the confusion it causes, maybe it's the attention and traffic to the site, maybe they are miners wanting to spook people. I think if BTC price holds ~$4k will be made back before the next batch ships. So that's around 32BTC. I don't see Hashfast delivering before KnC's next shipment, their T&Cs reflect that, and even if they paid primo money to TSMC, unless they lied about when they taped out, then they definitively are lying about their 'anticipated' 20-30th Oct delivery they used to secure funds, which is fraud.
That said if you paid by dollars and the BTC price continues a steady increase then you would have made your return faster than paying by BTC. Fact. But you are not buying an investment, you are buying a machine that creates Bitcoins, by a manufacturer that is capable of building a 28nm chip faster, and more competently than the rest, by not deceiving it's customer base with best case simulatied statistics.
If you are bullish on the long term value in BTC rising, as I am, then I just wouldn't tie any of your BTC up for a product that takes several months to deliver as you will always end up paying more than the fiat value equivalent was at the time of purchase.
Again you cannot blame KnC or raise vocal discontent based on your own desicions; wise, or mistaken.
Good, or bad, they were yours to make, and no one twisted your arm.
