To buy or not to buy ASICs for Grin, a calmed and unbiased discussion

You’re asking a question that’s been discussed at length in several threads already. You’re saying take out the emotion ---- but it’s not emotion, the knowns and unknowns are clear.

Point 4, company reputation, is by far the most important factor. In fact it’s the only factor because you’re buying a preorder that comes with a contract and in the contract you agree to pay money now in exchange for a promise that the company will give you a miner of a certain specification and at a certain time. The only way to evaluate this is to look at past performance and see if these have been met by the company making the pre-order. Not only has Obelisk not met any of the dates or specs that they previously announced, when challenged about their promises, the company told a complete fabrication (e.g., telling court that they’re Kickstarter, but the company has no relationship with Kickstarter) Again, this isn’t emotion or speculation, it’s fact. Here’s a recording of Obelisk.

Regarding your other points,

1/ Hashrates. See above. Obelisk is promising a hashrate but the contract makes no promise so the only basis to evaluate this is Reputation.

2/ Price. Price has a good analysis here: Obelisk GRN1 Full Sale - #36 by papacabeza. Remember that if you are in the U.S,. you will need to do separate bookkeeping and pay for taxes on the Grin as it’s mined. The facts as to price that we know are this: if you spend $3k today to buy Grin OTC, you’ll have 1,115 GRIN. That’s the bar that you need to beat with the ASIC. But to beat it you actually will need to mine about 1.7x GRIN to cover tax, electricity, and depreciation. To even out to 1,115 that you would buy, the Obelisk will need to mine 1,895 GRIN in order to have the same value as the 1,115 GRIN you could buy today, and no expert on this forum has stated they think this is possible. Based purely on this point the investment is senseless.

3/ Future of Grin + Asics. On this point — and perhaps ONLY this point ---- does it make sense to buy an ASIC. You’re going to lose money for sure on the investment the question is just how much. However, the investment will help secure the network, it’ll help incentivize other companies to build in the future and provide badly needed revenue for the companies selling them now. It’s important to have a strong ecosystem with a large project like Grin. So on that front, as donation of hash for a greater ecosystem — if that’s your driver then here’s your win.

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