If I had tried to paint the spindles, I probably would have ended up with the "scorch marks" on the leather couch!  |
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The network is increasing its security at the risk of everyone's profitability. When only a few entities can afford to mine, they can easily form a cartel and we now have a central banking system for Bitcoin just like there really isn't supposed to be. Why 51% attack when you can just 100% attack?
yeah the big boys may fail to see why that 10 to 20% little guys for grease is needed to make the network last. if so they will cook the only goose that is laying the golden eggs. no need to squeeze the small guy out and it really kills the network's safety big time. my thoughts exactly, so I canceled my long post. Same in other parts of the economy. hey, if home mining will become untenable, maybe we should just purchase nodes like the one below (especially if they drop the price to $50-99). http://www.coindesk.com/first-plug-in-node-aims-to-boost-bitcoins-network-security/While I am sure it isn't a Raspberry Pi, this device looks like it might be one of the "Pi clones", with the software already present. Maybe somebody else will recognize the port layout and such. If I was going to just burn a low amount of electricity, I might do it on a distributed computing project (e.g. Seti@Home). |
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All of this is done just with greed. The network could be secured with just x number of people (20,000) running one usb stick each. The diff would be low and the electricity use would be low, but no one would make money except those 20,000.
I wonder if this what it looks like after a few more halvings and the Bitcoin reward per block is down to 1 BTC or less. Either the BTC price will have to "astronomical", or there will have to be a great deal hardware shed to keep the costs down if miners need to subsist on transaction fees. |
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Since the purchasers now have well over a week of mining, what has your SP20 averaged in terms of hashrate? I don't try and run my single SP20 anywhere near top speed, so I am curious as to where in the range of 1400-1700 GH you folks have landed?
I am also truly surprised at the concept of purchasing an Id. I guess if you are trying to sell something, be it a scam or legit, it makes sense. I just can't quite fathom why someone would want to sell their "identity" though. Seems like a high price for a few bucks.
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I would like to drop my +2.51% slot and take the +5.76% slot instead. This going to be way worse than I thought. Not just "variance" this time....  |
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Well I think for this next change we can dispense with "It's just variance". The last few could clearly fit there, but the upcoming change is due to an actual increase it total hashrate. We may well look back at the first Quarter of 2015 as "The good times" for the year (I hope not).
If part of this is a turnover of Bitfury gear, what happens to the displaced gear?
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I am seeing multiple times the name of IBM is coming to the Bitcoin space. They are attending Bitcoin conferences,
distributing Bitcoin at universities etc. I dont think a company IBM will do anything not for profit.
Given their legacy dominance in hardware and more specifically mainframe (though it has nothing do with mining),
I think they might be working on some better chip design. If that is true, once that chip hits the market, they'll be monopoly.
I wouldn't read too much into IBM's name showing up related to Bitcoin. They do a variety of things that don't always lead to a "product" (e.g. a miner). While they have good technology, I don't think the existing ASiC vendors have a lot to fear from IBM. Just my $.02. |
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You might find out what you can get from a metal recycler if you separate the heatinks and case from the electronics.
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We don't force all the miners to do that work. It's their own choice and it would be more of a lottery if everyone would go solo.
For some miners it's just an hobby. Also with current pooled mining your argument is invalid as all the miners that worked on so said block will get reward by ammount of their work done on block.
Who is we? Bitcoin is great, but its reward system encourages the wasting of electricity. This is an indisputable fact. Well i meant to say nobody is forcing them to mine and it's their free choice to do so. Well it is an fact that it wastes alot of electricity but also many other things do. And miners can get electricity even from solar systems and i belive that atleast 10-20% of miners use that advantage. While in terms of "miner" (i.e. people or entities), it might be as high as 10%, I am sure Solar only covers less than 1% of actual mining production. Mining is a 24x7 year round operation, Until you move off planet you don't get that much sun. |
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Not sure if this came up in previous replies but have you guys considered Solar? Sure it won't pay bills but it can definitely offset in the long run. If you ever decided to abandon ship and sell the site, its a good investment. Even if not sell the site, use it for smaller purposes, you could probably fit a massive system on the roof there.
While I like the general idea of Solar, it doesn't cut it for something that's running 24x7 year round, as most miners are. The best you could hope for would be somewhat less than "50% mining" at the Equator using Solar. Unfortunately the Bitcoin difficulty adjustments also conspire against a fixed energy supply like Solar. |
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One minor item: I'll bet your title should be "256 GB" rather than "265 GB".
I think this will be a tough sell at $100 compared to Amazon and Newegg.
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Please put me down for +2.51 to +2.75
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You should probably take this over to the "Marketplace" section.
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If you want to actually do mining, then try out ONE S3, and put some of your other cash into Bitcoin directly (e.g. via coinbase). You can keep your costs under control with S3, and possibly lose less money by lowering it's speed to improve the efficiency (i.e. more GH per watt). If the price of Bitcoin goes up, you just might make a few bucks. You will NOT get rich by doing anything with Bitcoin.
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Congrats.. But maaan... I was 0.01% off.  Yeah, this was as close as it gets. 1DtWBQyiaWyRYRofyPjmRNCpBqWUScqHRc is my wallet address. I'd like to thank the Academy for this award, and suchmoon in particular! |
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Thank you for that kind advice. I don't have to pay for electricity though.
Whats more interesting to me, is to get the best performance with the lowest noise.
Without some significant cooling changes to the SP20, you will be forced to reduce the hash rate in order to keep the fan speed down. You can try replacing the fan with a quieter one, but the SP20 design requires a fair amount well pressured airflow to keep cool. Generally that means that a quieter fan will not cool as well as the stock fan. With the power cables at one end, there doesn't seem to be a good way to work out a push pull configuration. Other options are to "drill out" part of the of the honeycomb, though some folks claim it's really the fan itself that makes the noise. Another option is to reverse the airflow, though that then pushes warm air over the PCIe cables. Best of luck in finding a combination of quiet operation with a high hashrate. |
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You obviously have the cooling under control, sort of, what are the electric costs there? I agree that 50C is plenty hot (well over 120F for us non-Celsius folks).
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While I have no doubt that some miners produce hotter "ehaust" air, from an AC point of view, all 1000W miners are created equal in terms of how much cooling is needed.
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Looks like if I want to win this round I better restart that 10PH that's been sitting cold for the last few weeks. Gotta be careful though since I don't want to overshoot.... |
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