That's because you are a newbie. You will be able to post outside the newbie forum, once you are no Noob any more  Actually you just have to be active for 4 hours. |
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I disagree. In the 2011 Bubble it was all the same. A lot of people joined to get rich quick.
After it has worn of, a lot of people left. But all the "big names" we now have in Bitcoin are people that joined in 2011 stayed and started to build stuff.
This time 100th the times of people joined, and if the same % stay and work on making Bitcoin more useful we will see the fruits of it in 1 - 2 Years. But the hype has to end for this, including the mining hype, so people start looking for other means to get BTC.
And what did the community get? Mining is exploding to the point it is about to collapse on itself, payment processors going on and offline with uncertainty around most of them, investments which are mainly based around mining hardware pools or investing in other investments (which are generally mining pools). Other than proving that greater influence of outside interest (read: $$$) can change a market and that BTC is basically only still existing to self-perpetuate, not sure what "the next step" can be for v1 of online currency when there is no great demand for it. Oh, and "pre-orders". And missing chip deliveries. And knock-off hardware. And scams on eBay/Amazon/anywhere you can sell stuff. And ponzi investment schemes. Exactly: Even at this point I think the mining Bubble will continue for a while and many people will loose a lot of money. Just look at this forum. Bitcoin is currently all about mining. If I click on unread posts 90% are somehow related to mining.  I hope when this craze finally ends we will see more actual stuff about getting Bitcoin adopted again. |
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I disagree. In the 2011 Bubble it was all the same. A lot of people joined to get rich quick.
After it has worn of, a lot of people left. But all the "big names" we now have in Bitcoin are people that joined in 2011 stayed and started to build stuff.
This time 100th the times of people joined, and if the same % stay and work on making Bitcoin more useful we will see the fruits of it in 1 - 2 Years. But the hype has to end for this, including the mining hype, so people start looking for other means to get BTC.
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Even at this point I think the mining Bubble will continue for a while and many people will loose a lot of money. Just look at this forum. Bitcoin is currently all about mining. If I click on unread posts 90% are somehow related to mining. I hope when this craze finally ends we will see more actual stuff about getting Bitcoin adopted again. |
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So if I understand well, for each BTC send today, after current queue is emptied, the situation will be as follow :
I will receive 73.94 MH/s
The whole pyramining system will receive 735.29 MH/s
Is that right ?
If so, it's globally a ponzi scheme ... that kind of thing that bitcoin doesn't need for its credibility.
/facepalm The whole pyra system currently has over a TH. The 73.94 is what 1 BTC currently gets you on pyra. When new infrastructure is in place (queue is emptied I assume) that same 1 BTC will get you the 735.29 instead. At least I think that is what you're talking about...honestly I've no clue and am only guessing... Current available total Hashing Power of Pyraminig is 73.94 for each BTC deposited. For each new BTC deposited 735.29 are added to the total and split up to all active accounts. If a account gets completed its hashing power is also split up to all remaining accounts. Simple example: Assume there are currently 100 BTC in active deposits. Each has 73.94 MH/s. Now someone deposits 1 BTC, adds 735.29 MH/s to the pool. Now there are 101 BTC in active deposits. Each has 80.48 MH/s. Next an account worth 2 BTC gets completed. Now there are 99 BTC in active deposits. Each has 82.11 MH/s. and so on... |
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There are even services like middlecoin.com, which always mine the most providable altcoin, directly sell it and pay you out in BTC.
Year, put this is mining without purpose (from a BTC perspective), so enjoy it while it lasts.
*For all that don't know it (seem to be a lot recently) the purpose of mining is to secure the network and not to print money.
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Hello Pyramining, I've made a deposit (fm97b2hp) of 5 BTC 2 days ago. It appears now that this deposit turned to be active with old FPGA !  I was expecting to be queued on the ASIC pre-allocated. What has been wrong ? It don't want to have FPGA. I expect to have 3.67 GH/s not the ridiculous 300 MH/s !! The ASIC pre order mechanism has been closed the 30-06 has said in your website. Please check for a bug there ! Current infrastructure: 73.94 MH/BTC but ~ 735.29 MH/BTC are added to the total pool for each new deposit. so the numbers add up. The bug here is that your deposit is already active, when there are still people that deposited 9 Month ago waiting for their accounts to be activated. It would not be funny if this had happened to even more accounts. |
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...what I don't understand is: 1.1 Thash = 40 months break even ?? Its like nothing happened...
also for example: 10 BTC Asic deposit equivalent hashing power <0.8 GH ....
0.8 gh for 10 BTC ... 44 Months reward time....
What is it I don't see?
Could pyramining please explain? Difficult increased and will increase further. Nothing more to say. |
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Not like we already had this a 100 times, but well: I think that we are already at the stage where no future mining investment will pay for itself. This means fewer miners and therefore fewer people with Bitcoin to spend. This either means that Bitcoins become more valuable because they are harder and more costly acquire or, more likely, the whole thing will pretty much die because business won't bother to make the investment to accept it because there are fewer people with it and so it will lose its current popularity and never gain any more traction.
The best thing going for Bitcoin was the democracy of mining in that anybody with a graphics card can generate a small amount, now you need serious investment in ASIC kit that is unlikely to make a return. All the GPU's are now useless and so the generation phase that was anticipated in the original design has ended. Without significant market share and large transactions fees, its pointless for anybody to make an investment in mining.
So my prediction is a slow downward spiral in value from now on. Meanwhile hash rates will continue to rocket until the ASIC manufacturers start to fold resulting in one or two large miners left operating i.e. a large likelihood of the dreaded 51% scenario. Then Bitcoin will be truly worthless.
It's a real shame, I really wanted it to succeed but I think ASIC's came too soon in its life cycle and killed it.
After the 2011 Bubble mining was not privitable, too. For some time the difficult even decreased as people stopped mining. It didn't kill Bitcoin. If you have some basic understanding of economics you will see that mining is designed to be a 0 sum game for the miner. The device used for it doesn't matter. As long as mining is profitable, people will start mining to make money until it reaches an equilibrium with running expenses. This is true no matter what is used to mine, be it CPUs, GPUs, ASICs or Windmills. Also, that mining get's professional and more mining companies develop that have advantages over private miners and push them out is expected, no matter what device is used. That's just how any marked develops. Why should BTC (or cryptocurrency in general) be a difference here? |
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Why will they dump their coins because of increased competition? If I recieved less coins, I would hold on to them stronger than before.
And if you buy ASICs with bitcoins, don't you want bitcoins back (not FIAT)?
That's true for small miners, that only run them to get BTC. The guys that run big farms have significant operational costs that have to be covered by selling part of their mining income. As mining provability decreases, the % of BTC that they have to sell immediately to cover their expenses increases. Therefore the overall % of fresh mined BTC that are sold immediately increases. But honestly, at this point I don't think that mined BTC have a significant impact on the exchange rate anymore. To the rally, I don't think we will see a real increase in Value in the next 6 Month or even longer. But that's OK. All the "big names" we have in BTC now are people that joined it during the 2011 Bubble, staid after in and build the services that made BTC what it is today. This time 100th the amount of people as during the 2011 Bubble came into Bitcoin, if the same % as 2011 stay and start building services they will harvest the fruits in ~2 Years. But for that I believe it's better if it gets a litte more silent around BTC for a while. |
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@g83
Year, I confused you comment, due to a missing quote and just saw it standing there alone.
Forget all my posts.
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Nobody ever sold any ROI !
 That makes no sense. Just was a quote to the comment: I demand compensation for late devices! Price was determinated by 1 month ROI. Noone ever made promises about any return of investment especially in bitcoinbusiness.. So what your are actually wanted to say is: Nobody ever made a 100% ROI. OK, got it now. |
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Nobody ever sold any ROI !
That makes no sense. |
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Urgh. Yes, shipping cost are though. Quite annoying, I would prefer to pay you and not the shipping company. Well, I take one. 0.164 + 0.145 = 0.309 BTC in total? |
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How much for shipping to Europe?
Edit: The small giraffe box, to Europe.
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Why is this in Newbies? > Marketplace > Service Announcements
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Ja, ist schon traurig. Wenn man sich mal wirklich intensiv mit etwas beschäftigt (wie Bitcoin z.B.), merkt man erstmal wie mies die Presse eigentlich ist. Recherche? Fehlanzeige! 90% aller Artikel sind entweder minimal recherchiert oder nur eine Kopie aus anderer Quelle.  |
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Oder man nutzt den Thread im Presseboard dazu, damit hier nur eine Übersicht entsteht. Deutsche Quelle ist da übrigens drin und für andere gibts ein englisches Presse Board. |
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Bin mal gespannt, was das für Auswirkungen haben wird.
Das Urteil des Richtes ist ein Präzedenzfall, der IMO (kenne mich da nicht super aus) solange gilt, bis er von einer übergeordneten Behörde anuliert wird.
Somit sind Bitcoins in den USA jetzt eine Form von Geld mit allen Vor- und Nachteilen.
Für Behörden die BTC regulieren wollen ist das natürlich super...
Allerdings auch für die Rechtssicherheit wenn man mit BTC Geschäfte macht.
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