Most of you seem to fail to understand that bitcoin mining is still quite profitable. Just not for you who pays retail prices for the hardware and consumer electricity prices.

Dividends are on the rise! From 70 to 72 satoshi's!
BWAHAHAHA

Thats all a peta share has represented for quite some time now: a gamble that cryptx will indeed sell off its hardware and get decent prices for them.

I think its a risky bet, because I doubt cryptx will indeed sell off after the next difficulty adjustment (he is more likely to lower his fees as needed to keep divs a few satoshi above zero), and because in the current environment, its not going to be easy to offload 1PH of old, relatively inefficient gear - especially not when you have reputation as tarnished as cryptx when it comes to selling hardware.

I posted this chart over a year ago:



I even got the exchange rate right.

Keep in mind that for $/TH you have to take in to account variable production cost for the OEM's, not the consumer list prices. And you have to calculate with their energy costs, not ours.

ROFL.  Guess what today's dividend was?


Get used to it. But not for too long, in two weeks it will hit zero forever.

What are you smoking? Price was never 0.019 at cex.io, well not until today.
ANd who do you think you'd sell it for at .044?

Perhaps your words would carry a modicum of weight if you didnt have a paid for ad in your own sig.

Removing signatures is not an overreaction, the only alternative I see is ignoring this forum and moving to reddit or wherever.

Dont worry, there is always a solution:


Investing in an obvious ponzi should solve this

(disclaimer for the generally not so knowledgable cryptx investors, laxo is a ponzi, and has been sending out double spend millibits as advertisement. Its not peta's fault, and dont be so stupid as to give your money to these crooks)

Its gonna happen in ~4 days. Current projections show next difficulty will be 35.8B. At that difficulty, and todays exchange rate, 1GH would mine $0.1607 per month. Cex.io maintenance fees are $0.18 per month. Game over.

BTW, if my math isnt wrong, theoretically 1 share ought to mine
0.00001686 BTC per day now
Subtract maintenance fees ($0.15/30 days/$381 per btc)
-0.00001572 BTC
= 0.00000113 BTC dividend per day.
Multiply by 4 remaining days and I get
0.00000453 BTC

That would be fair value.

Its trading 640x higher lol.

no estimate can ever be perfect, unless you have crystall ball, but it helps to understand how these sites make their prediction.
AFAIK, bitcoinwisdom extrapolates the growth over the past 1000 or so blocks, and thus implicitly assumes the past growth rate will continue, whereas blockexplorer tends to look only at the current network speed, and assumes no (further) growth.

In reality, the network tends to grow, thus bitcoinwisdom tends to be closer to the truth, but that growth is also beginning to slow down, so BW overestimates the next difficulty to some extend. Blockexplorer otoh, ignoring the historic reality of ever increasing network speed, tends to underestimate it, especially in the beginning of a difficulty period.

Ahm, no. The current network speed increase has to continue in order for us to hit the estimated ~35B. 40B just isnt going to happen this round, even if the growth accelerates dramatically.

Reality check.
Step 1
go to https://bitcoinwisdom.com/bitcoin/difficulty

Step 2
Fill out the next estimated difficulty in the right side calculator as so:


Step 3
Note that expected mining revenue is $0.175 per month.  Cex.io maintenance fees are $0.18 per month (https://cex.io/maintenance).

Step 4
Let it sink in, about a week from now, your cex.io shares are most likely worth ZERO.

Awesome.Its called variance.
And have you dont the math what it will be like a week from now, based on current price and network speed?

427 satoshi in mining revenue
-357 satoshi in fees
= 70 satoshi in dividends.

(btw, using the same numbers, cex.io goes negative on the next difficulty adjustment. Thats gonna be hilarious to watch too)

The network has grown far more than 10% over the past few weeks. In fact its currently growing at nearly 3% per day.


Different pools have different features, different fee structure etc. I think thats a good thing, so Im not really advocating merging pools. It would however be an idea to somehow spread the risk. "Pool the pools" Of course that means you have to trust the other pools not to withhold blocks, so Id be very selective, but there are several pools that have been around long enough to trust in that regard.

How it could it not be enough of an issue? Seriously, the past year or so, Ive basically only posted in threads I was already subscribed to, because if I click "show unread posts", I have to stroll through 200 pages of worthless threads to find perhaps one that might be interesting. And usually even then its not, because the bulk of the posts are again from spammers.

As for the course of action; start by the simplest solution. It wont solve all problems, but it would be a giant leap forward: disable ads in signatures or signatures all together.

Couldnt agree more.

While I havent mined in years, it breaks my heart to see this pool unable to keep up with the network 
Doc, would it be feasible to work something out with the other old but now small pools to share blocks? Im thinking eligius, btcguild, slush,..

ANyone here still owns cex.io mining shares? I want to double your mining revenue if you borrow me your shares for 2 months.

cex.io is far more nuts, Ill grant you that. In a week, at todays BTC price and using current estimated difficulty, mining revenue would be $0.1933 per month for $0.18 fees. Or $0.0133 in dividend, compared to $0.072 today. With some bad luck, if BTC price drops further or network growth accelerates, they could potentially hit zero a week from now. And yet the price is rising lol.

Moreover, cex.io terms state they will just pull the plug (or at least stop div payments), and thats it. With petamine at least you are supposed to get your share of the resale of hardware, pitiful as I expect that to be, especially since I strongly suspect cryptx has no interest to liquidate his mine already, he'll probably lower his fees to some point marginally below mining revenue and drag this out for as long as he can.  Wouldnt be surprised he came up with a plan to prefinance the hosting fee deficit in 'anticipation' of BTC price rise or difficulty drop.

Reminder, zero div day table:


Bitcoin plunging to $435 and the network at an estimated 285PH.
I always said it would happen before the end of the year, now it looks like zero div day may happen as soon as early october.