My miner keep getting disconnected every 10 to fifteen minute...... and after 2 or 3 minute they reconnect anyone else having that problem......
Nope. I'm pegging it with 6.5TH...no connection errors. Pretty low latency actually. Just curious, what are your currently pulling in at 6.5Th/s per block. Was thinking of buying some new hardware with my tax money 6.5th will yield approx 0.016 - 0.018 per block @ current pool hash rate. Probably not the best idea to spend your tax money on hardware at this point in time and difficulty. yeah, probably cheaper just buying it. Yeah this is the conclusion I came to. With the current value of BTC, current difficulty, current price for electricity, current AUD to USD exchange and the price of post, I am MUCH better off buying bitcoin than I am getting new hardware to mine. I'll use existing hardware to light mine and use some of my btc to rent power. |
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I am a programmer/developer, pretty good with maths but this thread blew my brain multiple times.
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My miner keep getting disconnected every 10 to fifteen minute...... and after 2 or 3 minute they reconnect anyone else having that problem......
Nope. I'm pegging it with 6.5TH...no connection errors. Pretty low latency actually. Just curious, what are your currently pulling in at 6.5Th/s per block. Was thinking of buying some new hardware with my tax money 6.5th will yield approx 0.016 - 0.018 per block @ current pool hash rate. Probably not the best idea to spend your tax money on hardware at this point in time and difficulty. |
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I think home miners quitting the mining business also has effects on the bitcoin economy as a whole. In the 2013 BTC boom hardware was solely bought with BTC, fuelling the rising prices of BTC. In 2013 und 2014 I spent most of my BTC at buying hardware. After my miners were obsolete in spring last year I did not need additional BTC. So I kept my BTC except some humblebundle purchases. So loosing the home miners is not a good prospect for bitcoin.
Home miners, are bitcoin users, those big bitcoin farms are not bitcoin users, they're abusers and dumpers. I can't wait til they decide to boot them self off the network. |
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I too tried to take my self away from mining. Found my self switching at least one of my miners back on. Can't do it.
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go go Slush go .. I like this kind of big reward per one block when total hashrate of pool is small.
I have to agree, the last few days, I'll admit I have come back but that is because the pool is finding blocks. I know, I know its paranoia and what not but those dry spells with 18 - 24hr blocks were a real turn off, considering the pool was in 9ph which is an INSANE amount of power to only find 1 block in a day. 5 blocks yesterday, 5 more today I've made my bitcoin back on my mining rental. |
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I never got into bitcoin because of the $1000 spike, or the potential to make money. I got into bitcoin to support the idea of exchanging a commodity for goods via a decentralized network. If banks put something back into the users, it would be good. But at the end of the day most, if not all, banks charge bank fees for accounts, transaction fees, higher interest rates charged vs interest rates on investments etc. All other variables aside, a bank is a business to make money. Bitcoin is a method designed not to put money in one particular organizations pocket or wallet. Transaction fees go back into the network for example. Bitcoin is positive. If a bitcoin was worth exactly $1 and assuming it was much easier that it is to mine, I would be happy. Observe the Australian Taxation Office sneaking into bitcoin. https://www.ato.gov.au/General/Gen/Tax-treatment-of-crypto-currencies-in-Australia---specifically-bitcoin/ |
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I am curious, as to how does the number of people mining affect the mining difficulty ?
The number of people mining has no effect, the hashrate does. You could have 1000 people mining at 1ghash each vs 100 people mining at 1 thash each. The latter will raise the difficulty much higher. |
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This guy is a fool. So bitcoin is a scam, altcoins aren't. You sound like another PayCoin user who got hurt when his alt dropped to shit. The solution? You want us to stop using bitcoin and hype up some altcoin so it follows the same bubble path as bitcoin.
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I can't see any reason why there is a limitation on people outside of the US. Once its in an envelope and posted, why does it matter how many go out? If buyer pays post, buyer pays for item, buyer provides address, there is essentially no difference in selling 1 or 10 to overseas.
Hopefully someone else builds something similar and can post to Australia.
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One of the guys I bought my old miners from was solo mining, in 6 months he found two, yes TWO blocks with 2.25thash.
well 6 month ago was surely easy(diff was lower), and with two tera it may be possible Yeah unfortunately with the drop in bitcoin value, we all hoped for a drop in difficulty... 42,900,493,761 (+3.94%) God damnit. |
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Well, after all the troubles of falling prices and massive block times I've had a long think and have come to a decision.
I'm ordering an SP20. Time to move away from Bitmain and give someone else a chance to impress me.
Where are you located? I would love to get an SP20 but the Australian dollar is piss weak at the moment and post here is more than $150 USD. |
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To be honest, I didn't get into bitcoin to make money per say, I got into it to support a decentralized network. Making money doesn't have to mean selling your bitcoin for fiat. That would make you just like any other dumper. A bitcoin with high value is what its all about, not just about exchanging for fiat. Hence why all those people who used bitcoin for drugs, women etc have lost all their money. If I mined 1000 bitcoin prior to the 1000 bubble, I probably would have sold 20 btc to make a good wad to get my self some new gear for mining. People wishing they sold their bitcoin, that wouldn't have been me. I'm just wishing I had a little more bitcoin I could spend/use. I know someone who is very bitcoin wealthy. He made nearly 5k bitcoin mining when it first started. He still has nearly 5k worth with no intention to sell.
Well said. Sadly I think you're in the minority with these opinions. I also got into bitcoin because I loved the idea, but I also do see the potential to make some money from it but this is not guaranteed, but I'm still a big fan behind the concept and the political ramifications of bitcoin and what it can achieve. I'm in it for the long haul regardless pf price. Regardless how much you love the technology and whatnot, there's nothing wrong in admiting you are here for the gains too, be gains in fiat or in btc, its all about purchasing power. Working fucking sucks and being rich is awesome, i want to be rich and i hate myself for not buying Bitcoin earlier, there will never be another opportunity like that during our lifetimes. I think many can relate to you, it would have been nice but oh well. One thing to keep in mind though and thats the fact that easy come easy go. Like suggested earlier, those who got rich early off bitcoin aren't set for life. These people took a gamble on something new and got lucky. There was absolutely no knowledge that bitcoin was going to do what it did. Wasn't its estimated value meant to rest at around a few dollars? It wasn't a sustainable income. Once the bubble rose and burst, bitcoin popularity rose. Lets say you cracked a couple mil, what would you have done with your dollars? Spend or invest? |
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Paying 0.01-0.02 BTC for each good idea. I write articles and I need ideas to write.
Rule #1: Don't find news already written. This means going on CoinDesk or Google, or the Press section and finding something already done
Rule #2: I only pay if I use your idea. Almost all good ideas will be written about.
The point is to be unique. I'm not going to pay for something that has already been thought of.
Some examples are: "Comparison of upcoming decentralized social networks", or, "Why Faucets Aren't Worth Your Time".
An article detailing the lives of people who actually work for bitcoin instead of fiat. Or better yet, try living exclusively with BTC as your money and blog about that. Living off bitcoin is technically possible. I saw on a local classified ad there was a gentleman offering to do people shopping etc for payment in bitcoin. Pretty cool idea. Well I'm a fulltime professional systems architect. I live in an area with several bitcoin ATMs. Many of my projects are related to bitcoin or utilize bitcoin related tech. I recently told my work to start paying me in bitcoins. My kids christmas this year was entirely purchased by bitcoins. So I may have been a bit biased when I mentioned it  I think there are 2 or 3 Bitcoin ATM's in NSW, Australia lol. |
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Paying 0.01-0.02 BTC for each good idea. I write articles and I need ideas to write.
Rule #1: Don't find news already written. This means going on CoinDesk or Google, or the Press section and finding something already done
Rule #2: I only pay if I use your idea. Almost all good ideas will be written about.
The point is to be unique. I'm not going to pay for something that has already been thought of.
Some examples are: "Comparison of upcoming decentralized social networks", or, "Why Faucets Aren't Worth Your Time".
An article detailing the lives of people who actually work for bitcoin instead of fiat. Or better yet, try living exclusively with BTC as your money and blog about that. Living off bitcoin is technically possible. I saw on a local classified ad there was a gentleman offering to do people shopping etc for payment in bitcoin. Pretty cool idea. |
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Anybody down in Australia got one of these yet?
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Since getting into bitcoin, I have never seen anything so full of made up FUD just to try push people out.
This is the same as when a new player joins an online game. He is bulled, threatened and made to feel weak until they eventually leave the game.
The problem I see with bitcoin is there are too many people who's intention is to push people away from bitcoin.
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To be honest, I didn't get into bitcoin to make money per say, I got into it to support a decentralized network. Making money doesn't have to mean selling your bitcoin for fiat. That would make you just like any other dumper. A bitcoin with high value is what its all about, not just about exchanging for fiat. Hence why all those people who used bitcoin for drugs, women etc have lost all their money. If I mined 1000 bitcoin prior to the 1000 bubble, I probably would have sold 20 btc to make a good wad to get my self some new gear for mining. People wishing they sold their bitcoin, that wouldn't have been me. I'm just wishing I had a little more bitcoin I could spend/use. I know someone who is very bitcoin wealthy. He made nearly 5k bitcoin mining when it first started. He still has nearly 5k worth with no intention to sell.
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Slush has been and will be the only pool I mine. Lucky today though I got a slice of all 5 blocks but only small as I was running two S3's. Just wish I could afford to run the rest of my miners.
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One of the guys I bought my old miners from was solo mining, in 6 months he found two, yes TWO blocks with 2.25thash.
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