Can extended warranties change the crypto mining industry?

[BlockSavvy]

I've noticed some companies are starting to roll out multi-year warranties on mining gear. It's got me wondering–could this actually make mining feel like less of a risky bet and more of a solid long term play?

[tequilla_sunset]

Maybe. Depends on what the fine print is and what exactly they would want you to mine, or they wouldn't care about it..

[TomPluz]

Warranties are good but definitely this does not mean to change the crypto mining industry at all. Just like any gadget or machine, there is really need for a warranty to protect the investment of the buyer but the bigger risks are not there as they got something to do with developments in the market and the ever-changing dynamics of crypto mining especially in regards with regulations. What can be game-changing is if there will be new mining equipment that will not be requiring a lot of energy so as to lower cost and not be detected by the people of the government.

[Mia Chloe]

I've noticed some companies are starting to roll out multi-year warranties on mining gear. It's got me wondering–could this actually make mining feel like less of a risky bet and more of a solid long term play?

Warranties are great but it's basically not he only thing you would need to consider if you intend to venture mining. Mining isn't too profitable especially solo mining for something like bitcoin. Other important factors like electricity costs also contribute to mining problems and concerns too.

Warranties would cover a couple of maintenance problems and issues but not basically all of them actually. Even with warranties, companies still have some things outside their coverage

[SmartGold01]

I've noticed some companies are starting to roll out multi-year warranties on mining gear. It's got me wondering–could this actually make mining feel like less of a risky bet and more of a solid long term play?

Warranties are great but it's basically not he only thing you would need to consider if you intend to venture mining. Mining isn't too profitable especially solo mining for something like bitcoin. Other important factors like electricity costs also contribute to mining problems and concerns too.

Warranties would cover a couple of maintenance problems and issues but not basically all of them actually. Even with warranties, companies still have some things outside their coverage

+1 karma for you..
Of course warranties aren't the sole purpose in mining but it's like just acting upon that particular products they are purchasing, but this may not cover up other additional issues just as you mentioned but for sure, mining are cool way of making money for but how faster I would be in making profits unlike trading or just investment. Most times people sees mining as the easiest way to make money.

[joniboini]

Most times people sees mining as the easiest way to make money.

Are you sure about this? In my experience browsing through social media and forums, I don't think people described mining as such. Unless we're talking about the early days of Bitcoin or something similar, but then it's debatable if that's the easiest compared to buying some random coins and waiting for the bull run to cash out. It doesn't help that sometimes people describe token farming as mining, which makes it confusing.

[ABCbits]

I've noticed some companies are starting to roll out multi-year warranties on mining gear. It's got me wondering–could this actually make mining feel like less of a risky bet and more of a solid long term play?

On most cases, you still need to send the broken device/parts to the company. It could take up to few months, where you missed opportunity to mine profitability before mining reward decrease or mining difficulty increase. So while miner would appreciate longer warranty duration, it won't change the industry.

[MrSpasybo]

I've noticed some companies are starting to roll out multi-year warranties on mining gear. It's got me wondering–could this actually make mining feel like less of a risky bet and more of a solid long term play?

There are several reasons why companies extend warranty periods: they have better technology and their equipment becomes more durable, or simply because they want to capture market share. If they only want market share, they will have to weigh the risks and benefits, because the longer the equipment operates, the more serious the failures will become, and the warranty costs may outweigh the profits. Sometimes extending the warranty period is only implemented to increase the price of the equipment.

For miners, I think they will benefit somewhat by saving on repair costs in the long run. However, over time, their equipment will become outdated and mine fewer coins in a POW system. Mining has never been an easy market to enter and survive!