Bitcoin Forum

With The Difficulty Increasing and rewards dwindling dose it makes sense to spend Big Money on expensive miners when they will barely make there ROI, just buying the coins from an exchange makes more sense?

£5000 / £10,000 as an investment i would buy the coins.

For Company's who make Mining technology there costs are instantly high , company rates , employment costs, energy costs,Taxes ect ect ect, there products devalue faster than a Ferrari driven off the forecourt !!! already Ive seen many BFL jalapenos barely get the asking price and the 30G 60G getting cheaper and cheaper with 60Ghash becoming the basic entry level to mining. 

SO what happens when these company's close down and we don't have any more new mining boxes to pre order or purchase? the KNC miners are burning out BFL power Supplys are Burning out and a host of other issue with the other tech i keep reading about, because of greedy people rushing this tech out the door. I know electrical equipment is prone to issues but with such low Volumes having 50 units fail is a larger % compared with a GFX Producer who makes millions of Units having had there RnD spend years tweaking the product with Millions of $ spent on quality control. 


Im starting to see the downfall of the tech because of the price nothing else!



End Of Big Miners..........You Tell Me ?   

Well miner corporations will stop producing whit in a year of now.
I guess the Diff will be >911.000.000 on 8 of January 2014, its make no sense to build mining equipment whit that kind of difficulty.  
After a while the miners that are still working will get more and more rare...final they will sell for a lot of cash on eBay ;-)
 ;D


 

Do you even economics, bro?

The price of bitcoin is going to go up, you know...  ::)

Popularity goes up, difficulty goes up, average bitcoin per user goes down, price per bitcoin goes up. Thus the small reward even my hobby 4 GH/s rig pulls currently will be valuable as soon as the difficulty has been up for a couple of months. Some basic economics.

Price is not going up, not even at close rate as difficulty. For how long it's around 130$?

Yes i do Ive studied it in depth and you ALL may want to pay attention to the very imminent collapse of the US dollar http://www.youtube.com/watch?v=4hgA9j-4dB0 (http://www.youtube.com/watch?v=4hgA9j-4dB0)

first you have to understand that all components of this are connected you cant change one with out effecting the other something you seam to have forgotten or just didn't realize!
with the diff changing it will take 100Ghash to achieve what you get with 1Ghash today then 1Thash to get what you have archived with 100Ghash ect ect ect , how do you get to 1Thash if the big players stop making the Big Miners? how many block erupters for that , how much electric will that use and again its down to ROI as electric prices continue to go up , theres only so much you can run with a solar panel before you become a solar farm! by the end of this year i can imagine a BFL Avalon selling for 1/4 its price today and thats a good thing i will buy as many as i can as im in this for the long long long game as you all should be aswell. I agree the single price of a bitcoin is going to go into outta space , mid next year will be around £1000 - £5000 per coin so to mine one coin how much equipment would you need? before the crash of 2008 1oz of gold was £285 a couple months later it was £1200 ish

tell what you think the future of bitcoin mining is?

Big Miners Shutdown?
Exodus of miners and the hash drops?
Diff Drops and were back in the game ?
Price Of bitCoin Gose up and up and dosnt stop?
world bank/European central bank/ Crushes bitcoin?

Also (Do you even economics ) what dose that mean?

You forget one thing. Technology is improving massively.
There will be much more efficient chips available...

We'll see how profitable they are gonna be.

Bitcoin will not have a huge price increase, it will not even get to $200 again.  Watch and see, keep your money out of BTC!

LiteCoin is poised to pop way up soon.

Tech moves forward in both speed and efficiency as well.. 

the big names we know now, may or may not be around in the future. Thats not to say that some other name wont be there to step up and replace them with the next generation of faster, more efficient hardware. Question is, who will be it or who will be the monopoly. 

This sounds idealistic. But in the world of capitalism, it's hard to guess what the companies have in mind. And remember china is joining the fray now so expect more china made miners. And it would be very dirt cheap.

I think in the future small ASIC miners should have an advantage.

It's much easier to operate 1000 distributed 2 kW miners than one at 2 MW. If you're mining at home, you can also use the heat.

What makes you think bitcoin would not have huge price increase. People said that when bitcoin is at 1$ also.

What china miners? Posta some links...

The great thing about a market not controlled by corrupt governments and central banks is that there will be natural price discovery .


The natural cycle for the life of bitcoin will look like :-

The Start .

Market price rising  = mining profitable .
Mining keeps growing but market lagging behind = mining unprofitable .
market grows,price increases = mining becomes attractive people grow there mining pools new miners attracted .

For a virgin market .

Price and miners will find a natural equilibrium .

What bitcoin needs at the moment is for market share and adoption to increase to make current technology viable to use .

There currently is no need to increase the hash rate to support the tiny market share bitcoin has ,all that is happening is that mining manufacturers are on a suicide mission

It's going down. At least with btc you have some "guaranteed value" while litecoin is kept on on "simple interest".

Although I would prefer litecoin blocksize and confirmation speeds to bitcoin anyday :)

Watch and see.  Mt. Gox is about to add LTC to its list.  I have inside information.

If I were you, I'd be buying up LTC right now, like this one on ebay:

http://www.ebay.com/itm/ONE-HUNDRED-LITECOIN-crypto-currency-available-NOW-100-LTC-/131015977682?pt=US_World_Coins&hash=item1e81292ad2

Only a fool would buy at those prices

Here is a much better/cheaper option which will save you $385.00

http://www.coin-daddy.com/#!product/prd2/1097137491/coin-daddy-silver-package-3

That's what I'm hoping for, a FOOL to come along on ebay (it's MY auction!  ;D)

There's people dumb enough to continue buying ASICs and USB Erupters, so maybe I can find a moron to pay me nearly 3X the going rate on some of my LTC!

Waiting and waiting and waiting, hopefully they add LTC before the government take them down.

That depends the popularity, bigger miners will be available just in limited basis, I personally like to obtain one. But think carefully, I select a mining contract instead of obtaining big equipment as the game becomes more difficult, upgrading will be more often.

I think the 28nm ASIC's are being tested with this crazy increase in difficulty.

Somebody's not following the rules - it is supposed to be six blocks an hour...

263765 (Main Chain)    2013-10-15 05:22:16
263764 (Main Chain)    2013-10-15 05:19:42
263763 (Main Chain)    2013-10-15 05:19:09
263762 (Main Chain)    2013-10-15 05:16:35
263761 (Main Chain)    2013-10-15 05:15:05
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263759 (Main Chain)    2013-10-15 05:00:28
263758 (Main Chain)    2013-10-15 04:59:58
263757 (Main Chain)    2013-10-15 05:00:04
263756 (Main Chain)    2013-10-15 05:02:30

http://we.lovebitco.in/img/dif200m.png

Everyone would be mining Bitcoin 2 by then, created after Bitcoin have all 21 million coin mined.

That's what transaction fees are for. There will be no Bitcoin 2.

Pretty high amount of wrong per word in this post!  Congratulations.

Why not? Did the creator mention something about this?

Bitcoin 2 already exists.  It's called LiteCoin.

Ha, too bad my ASIC won't work on that :)

But it's price is going down and down and down

Almost dead at the moment.

BTC had quite a few price ups and downs in its earlier days, research the historical charts on it. 

Now's the time to get into LTC hardcore style.  I have 190 LTC I'll sell for $1000 US Dollars. 

And yes, that's above the current market price, but it is far below what the price will be in 6 months!  Get them now while you can!  First come first served!  PM me.

That's the whole point, they designed it so it could only be run on a PC, so nobody could make you pay 1 years forward production for some fancy electronics only a few control production of.

They also fixed the 51% and it goes tits up bug.

And they fixed the transactions will be too costly if the currency ever takes off, in processor time, bug.

It is in all respects Bitcoin 2.0 ;)

Can be run on FPGAs too, check my sig. :P

Nice, you make them?

First off, someone hasn't got a clue about mining, when/if the people turn off there miners the diff rate WILL drop. (just look at LTC diff keeps going up and down).

Second, mining scrypt coins and exchanging them into btc is giving new life into old gpu miners, same thing can be done to sha256 alt coins. Use those old usb miners to mine sha256 alt coins, to trade for btc.



 

sha256 alt coin is not as profitable as scrypt alt coin.

You probably don't have any idea with this http://www.coinchoose.com/index.php.

Not a single one SHA-256 alt-coin worth mining :)

Someone should come up with a way to merge-mine ALL sha256 alts.

for the moment, yes but down the line, no.

I believe its impossible unless the coin allows it to? Please correct me if i'm wrong.

AAAAND 10 days later BTC is @ $190. Watch and see indeed ;)

quoted for the 200 USD rise in price :)

So it's the time when the quantity of Bitcoin stop. Since it makes no more sense and cost more just to mine bitcoin?

$190 is not $200.  I said $200.  So I am still correct.

LOL you're still going to stick by that statement? MTGOX just broke $197 ;)

$197 is also not $200, just like $190 isn't.

I remain correct in my earlier assessment.

Additionally, I further portend that anyone with more brains than greed in their heads will sell their BTC now and buy up LiteCoin while its price is depressed a bit.  The BTC surge is peaking right now, while LTC is down!  Time to buy and ride the LTC wave!!!!! ;D

And because I have 200 LTC now and needs its price to 100x increase so I can make money on it. ::)

which included:

Lets see, BTC was at $140 when you made your "assessment". In a short 11 days later it hits $197 (+40%!) and you're still going to claim you were correct? Don't be bitter just because you invested in the wrong altcoin ;)

I don't think so. At this moment it looks than everyone is hoping for increase in price so most of guys are mining without profit hoping it'll get better.

http://s23.postimg.org/t1qpugfa3/Capture.jpg  ;D

this thread is about mining technology and its future , not about exchange rates and litecoin!!!

You are submitting the same proof of work to different chains at once. I don't see why this is not possible.

Not any more, MtGox broke $200 so you lose :)

Hrumph. :-\

Oh well, anyone who listens to me for investment advice is sure to lose.  I never said I knew what I was talking about.

15 days later.  Now its $195... price is not going up eh?

Catch up artiface, your post is about 3 days late..... ::)

Yeah... what's that you were saying about Bitcoin not reaching $200 again?  ::)

He meant $300  ;)

Yes, that's it, I meant $300.  I said $200 and was a bit restrictive in using that number, but it hasn't even hit $220 yet as far as I know, so FOR SURE it ain't getting up to $300!

If it does, I'll pay a couple homeless guys to kick my ass for being so tragically wrong and not buying BTC when it was in the $60-$70 range a couple months ago.

And now that I've said that, BTC will head for $300................ :o

Now lets predict, its going to hit $100 in 1 week :)

Easy to be smart now.
I'm happy to be wrong about that even partially but it's still not going up at close rate as difficulty ;)

FYI it peaked at $233 (http://bitcoinwisdom.com/markets/mtgox/btcusd)...

FYI it has fallen / tumbled / crashed to $206 now. ::)

lol... how is something that was $125 a month ago....  $206 today considered crashing?    ???

I'm trying to make myself sound better. ::)

Doesn't it disturb you how it can peak at 233 and drop to 190 in a couple hours, rebound to 214 and fall to 206 all in one afternoon?  The word is unstable.                                  

The same thing happens in the stock market all the time.  The Dow Jones hits 14,000, the news reporters are happy.  It hits 14,500, they are ecstatic.  It hits 15,000, they are freaking out with joy.

It drops to 14,950, they are pissing their pants with doom and gloom.  "The market is crashing, the next depression is coming soon!".

In most forex previous resistance gets tested ,The $144 ish level was tested already ,so the only resistance that has not been  tested is $164 it high probability that this will be visited before a significant move higher .

If you missed out on the previous move averaging in as close to $164 may be the best price you will get in at now .although $174  seems to be holding up at the moment .

As BTC few, the cost of cloud computing went up for mining.  CEX went up from .08 to .09 for GHS.  

ASIC is still cheaper comparing price per GH/S. Thats why they are selling right? :)

They are - the problem is...you have to wait.  You're placing a bet =/... so there's a good chance you might not get the returns... ROI is quickly turning into days before miners become obsolete.  

You're right - but we can't have them now =(  There's wait before they are released in the wild right?  When are the next big waves hitting?? November? December?

January and February

Great - so we have a bit of time then to mine!