How would you like to have your income cut in half by a sudden announcement? If you're a masochist, you will enjoy it; if you're not, stay away from getting into mining at this time. Too much uncertainty.
How do you know the price will double? If you're sure, invest in bitcoin directly. Why take a chance at mining, with Diff rising?
Sudden announcement? We know about having LONG before it happens so sudden announcement is not true at all. Look at difficulty changes: https://bitcoinwisdom.com/bitcoin/difficulty. We have almost halved not to long ago due to just new gear being plugged in: Feb 19 2016 163,491,654,909 13.44% 1,170,318,852 GH/s Feb 07 2016 144,116,447,847 20.06% 1,031,625,717 GH/s Jan 26 2016 120,033,340,651 5.89% 859,232,121 GH/s Jan 13 2016 113,354,299,801 9.12% 811,421,684 GH/s Jan 13 - Feb 19. Look at those stats so having... we can cause losing 1/2 of mining income due to normal expansion. And no one can be sure on what will happen on having or what pricing will be. To add to notlist3d's comment @talks_cheep This is going to be a "long shot" but the next halving (12.5 to 6.25) I believe will happen around block 630,000  Now that you've been warned of the next one happening you can prepare. to me that one will be more important then this one. I will weather this okay maybe not good or great but at least okay. A lot I think will depend on value to. And that is where speculation becomes hard as value predicting months away... just is tough. I don't think most can do it accurately. So me weathering the having really depends on value I think. Also next gen can possibly become a factor.... again speculation here is hard to say. We don't know many final specs, and don't know prices/dates so... a lot right now is up in the air. |
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If you have free electricity, it is better to mine. But you should mine altcoins, they are more profitable than bitcoin.
Not necessary true with free electricity. With free electricity the cost of the miner (or GPU's in altcoins) really is a big factor. So don't forget that initial cost of buying the equipment. With so much old asic gear it could be a had cheaper then say a 300 series GPU or such. So depends all on price really on equipment. |
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This is a bit of an introduction post and a bit of me asking for some advice. I am a college student
What is your living situation like is the big question before anything else. If living in a dorm/one bed room I would hate some miners. There are some that are almost quiet but old (example Avalon 4.1). But others are quite loud. But keep noise in mind when looking at miners if you are going to be living with it right there. I always liked my room quiet for studying before a exam... so a miner never made it in my college rooms. |
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How would you like to have your income cut in half by a sudden announcement? If you're a masochist, you will enjoy it; if you're not, stay away from getting into mining at this time. Too much uncertainty.
How do you know the price will double? If you're sure, invest in bitcoin directly. Why take a chance at mining, with Diff rising?
Sudden announcement? We know about having LONG before it happens so sudden announcement is not true at all. Look at difficulty changes: https://bitcoinwisdom.com/bitcoin/difficulty. We have almost halved not to long ago due to just new gear being plugged in: Feb 19 2016 163,491,654,909 13.44% 1,170,318,852 GH/s Feb 07 2016 144,116,447,847 20.06% 1,031,625,717 GH/s Jan 26 2016 120,033,340,651 5.89% 859,232,121 GH/s Jan 13 2016 113,354,299,801 9.12% 811,421,684 GH/s Jan 13 - Feb 19. Look at those stats so having... we can cause losing 1/2 of mining income due to normal expansion. And no one can be sure on what will happen on having or what pricing will be. |
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faucet is easy way but hate them put safety limit, a way to trap user claim  The limit is due to they pay less then advertising made, which is small. The faucets only make a lot of money if a lot of followers. So the number of users directly relates to the faucets making money in most cases. They are not a good way for faucets to make the normal user money. They as mentioned above just take to long to make money. So it does not really trap user's claim.... but users who are doing them should know going into it they make very little compared to time spent in it. There is no way around it. |
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fast and free i think signature campaign is best way for you , you just needs bitcointalk account for it and spend a few hours everyweek.
It is not fast/free if done right. You should be doing post's that contribute something. So I don't think fast is necessary true if your using forum right. I do agree on free they are a nice bonus after a weeks posts. But should use the reason of a sig campaign to post, as it contributes to spam a decent amount off times and eventually leads to ban's of the ones who are really bad at it. |
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Price is heading opposite way as we want. Were around 442 right now... so closer to the 440 then 450. Not a good difficulty period on value so far. We can see if it changes... but not looking so great right now.
Difficulty is not looking horrible is the good thing, but value is a bad thing right now.
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from what I understand its opposite the coins become more valuable am i wrong?
Only due to supply and demand. To answer question, yes, miners will be making 50% less of what they were previously. HOWEVER, due to the value going up, they should be be helped out by the value going up so high. Mining seems very unsustainable then... if every couple years the reward is halved. But your forgetting next gen gear that will be coming out. Some report specs MUCH less better then 1/2 efficiency so we can make us for a lot via new generation of gear. Which will happen. But it is not unsustainable due to the large mega mines. Even at having those paying a few cents likely still remain profitable. Home miners... yes very much harder in a lot of cases. But it is not unsustainable, mining will continue. Yeah I meant home miners, I am guessing it is going to get harder by a LOT. Still unsustainable in that respect IMHO. But those mega mines like you said will probably remain profitable. You still are not taking next gen gear into equation though. It is already hard for a lot of home miners, this is due to not having cheap electricity. This already happened before the having, so nothing new for it to remain same after havining. So the ones able to do it profitable now I see new gear allowing them to keep going. It will get harder (just is the trend were on) but unsustainable is not true for those with cheap electricity. |
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Might want to get a different power strip, not sure how many joules that one can handle but it doesn't look too modern.
It's rated for 15 amps and it is older than most of the users of this forum. It is my original power strip from my first computer, an Apple IIc. It's built like a tank, they don't make stuff like it anymore, literally. I think lightning could hit it and it would keep working. That was what I was guessing  . There are some of these older power strips that are truly amazing. I love some of my old metal ones that work great, I don't have many at this point. But those who have not used/touched some of these old beasts don't understand how much better made they were then today. Today they are all plastic almost to keep costs down. They really are like tanks on these good old ones. |
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Sounds pretty obvious...
gif above
But if he is going to do something like this why does he need other peoples info, and specifically those who used a bank? I don't see it maybe he has some justice that needs info... but I can't help from seeing someone trying to scam those who have already been scammed. I could be wrong I just think there is a motive to collecting their personal info besides helping. |
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You can only collect btc from faucets. But it is really useless nowadays since payouts are like a grain of salt. If you really want to experience btc then consider buying them from any exchanges or nearby ATMs available. Otherwise you will just spend your lifetime collecting $20 equivalent of BTC from faucets.
Faucets are not worth it at this point. The "elite" own one or somehow got sucess on referrals is only 2 sub-sets I see being worth while for. You spend hours for earning cent's. So does not make sense on any level. You are right 20 dollars would save them a lifetime of faucets. I also point to usb lotto miners, these tiny usb sticks like the compac will teach them far more by mining then you will ever learn on a faucet (but be warned you will not make ROI on lotto miners). |
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No worries. Yea let us know if it works. Bare in mind the gekkos can be a bit temperamental to get started. Just unplug and plug them in again if needed. Sometimes I have to do it multiple times before she gets going on her own This is not really true they are very reliable as far as usb miners go. The initial start temperamental is likely people in windows playing with Zadig, it is a pain on some machines. Zadig for some Windows machines will install first try and work great, others will have multiple attempts and still not work proper. If you want "easy" way to make sure it works switch over to Linux, maybe a RPI even. It just works much better due to not needing Zadig. |
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Just haven't had a lot of news to update really and I don't want to post just to post. On a side note I am in contact with the Bitfury ASIC supplier weekly and as of last Monday chips were still a no go
Really glad to hear from you again! Also glad that mining is still in the cards for you (sans Avalon). Very glad you are still pursuing the ephemeral BitFury chips. Also for reasons I've previously expressed about TSMC and 16nm chip production, not surprised on the lack of movement. But - we should be getting close. It is good to hear a Update and original story to. Thanks for posting. I think getting chips is going to be hard no matter what at this point. Unless someone gets them like LKETC that has a history of unloading tons of chips to others, I think most keep pretty internal. For better or worse. Still wish you best of luck though as a community miner sounds very cool idea. But I imagine it's quite the uphill battle to get chips in current market. |
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I've been biting my tongue long enough... Ya know, this reminds me a lot of the movie The Godfather... Sorry but it had to be said  I understand that the are ways to maybe get repaid that are outside of the legal system. But - most folks here, even those who have been scammed, will not and definitely SHOULD NOT pursue those routes. I still can not for the life of me understand what italianconsul brings to the table. He want's peoples info and specifically those who used banks vs btc.... sound suspicous? Yes very much so. You are right about Godfarther he acts like he has some way out of system that works. Think he has the horse head ready (ok i joke). But he needs to say what he can offer to help people. I think this is a scam that those take likely will never see money back, legal options is only way I see. So italianconsul don't go onto a huge rant. Just explain why you want to collect peoples data, and WHAT YOU PLAN ON DOING WITH IT. You still have not touched this. |
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I've never done it, but I believe you can go 6 deep, not that I ever would. I am two deep at this time for one miner in one room just because I haven't pulled it out yet.
I added another switch and now can run the Avalon6 and S5 together for 4.7TH. Good thing it's been cool the last few days, I haven't needed to use my heater at all.  Might want to get a different power strip, not sure how many joules that one can handle but it doesn't look too modern. I don't know if I would base it on how modern it is. I have some from the past that are metal and far more substantial then modern power strips. And some modern ones it's kinda hard to tell just by look. But I would not base it on how modern it looks. I have seen modern looking ones that are crap... so just hard to tell via picture. And even though they are crap for "non-miners" they likely work fine. Us miners use more electricity in a lot of cases than a typical user. |
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from what I understand its opposite the coins become more valuable am i wrong?
Only due to supply and demand. To answer question, yes, miners will be making 50% less of what they were previously. HOWEVER, due to the value going up, they should be be helped out by the value going up so high. Mining seems very unsustainable then... if every couple years the reward is halved. But your forgetting next gen gear that will be coming out. Some report specs MUCH less better then 1/2 efficiency so we can make us for a lot via new generation of gear. Which will happen. But it is not unsustainable due to the large mega mines. Even at having those paying a few cents likely still remain profitable. Home miners... yes very much harder in a lot of cases. But it is not unsustainable, mining will continue. |
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We dropped under 450 and are around 446 on coinbase. So it seems we might get a 450 wall and might take longer then I hopped to pass it as it keeps going back under it each time it goes above.
On hash rate I just hope we stay under 5 is my main goal. I'm guessing we will as nothing "big" seems to be happening but it's early to tell.
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Ok, so what's the bottom line on efficiency speculation at this point for BW.com's new miners vs. Bitmain S7?
The Bitmain S7 is 0.249w/GHS (per Hashnest's website) and is supposed to be the most efficient miner currently available to the public.
Bw's "Proclamation" on 2/15 says "BW-LK1401 chip is 160W/T, which makes it the lowest in the industry. Building on this technology the second generation, BW-LK1402 chips are currently in production with a lower power consumption of 95 W/T.BW"
Which translates into .160w/GHS and .095w/GHS which are HUGE jumps in efficiency.
I presume the former is the one currently promised for June.
Do we actually believe that these specs will be delivered. Has anyone actually gotten their hands on one or seen it running?
Your missing part where S7 is one of most consumer efficient miners for THIS generation. Next generation that goes out the window S7 does not stay at top spot forever.... likely bitmain has a S9 or something in works. They are just good at keeping it secret. On specs above it was mentioned no one has seen a BW chip that met later on specs. But they were EARLY in generation and only ones we saw were a few that somehow made it to re-sellers. It was not really meant to be sold to general public. But no doubt they will refine it... what it ends up being no one can really say for sure. |
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theymos hasnt touched much of this forum for a while, i think he totally forgot to alter pricing.
This has been talked about MANY times. But it is not seen as fair if they lower the price as people paid the old price to get the title in past. So in a way if they change it is a slap in face to all who paid these prices long ago. So because of this it has been mentioned MANY times they will not be changing it. The forum can run off ad's and does not need donations to run... so they are able to keep these prices fair to the "old" accounts that paid these prices. I would not expect this price to be altered in future. |
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I banned your primary account, knowhow for 2 weeks, and permabanned all your other accounts. I don't want to stop you from participating on this forum entirely (well in general), just to stop the spamming. It's a warning, take it or leave it.
No your other accounts won't be unbanned.
THanks for the opportunity .Cant you reconsider?I had invested 0,30btc i know the sales isnt well see here.Give me one last oppportunity , you can ban me.for 6months. that i believe its the max punishement a user can take.I really would like you to consider .i will understand your final decision,for me 0,3 btc its huge lost even with me being wrong if you can help me let me know. Thanks and sorry to take your precious time with a problem made by me. You should take his anwser and run. You got a warning.... a lot do not. So you might not see it but already got a huge help by him not banning your Hero account if you were spamming, especially with multiple accounts. The max punishement is not "you can ban me.for 6months. that i believe its the max punishement a user can take". Permabans last forever unless they decide to reverse... so much longer then 6 months. |
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