Nice to hear! The more participators the better. Please update this rule also on deeponion.org.

will china ban btc miner ?

Do you still believe in NEO after what China authorities stated about ICO and yaun/crypto trades on their territory?

I took a pause with NEO.

Not sure where you have been for the last week?

the one thing people keep parroting about neo is how hard they've tried to be compliant in china. china has just made it clear they don't give a shit how compliant anything is.

if they're not gonna permit a vanilla coin like bitcoin, there's no way they'll permit anything with extra layers of complexity or the possibilities for mania.

if they head abroad they'll be fine. if they stay china focused there ain't nothing to focus on any more.

and i'm amazed that some people in this thread still seem to think there's gonna be a chinese market. there won't be outside of guys meeting in bars.

is that true, if any litecoin die, there should be an announcement from the official, this really really surprised me ..

This year I think a lot of ICOs are popping up. Not a few ICOs that collect tens of millions or even hundreds of millions of dollars. Sometimes I am confused, what is the money for, what for a noble cause, and why investors dare to spend that much money? However, I think again that ICO is indispensable as a creative business step. So, as long as no harm, ICO is still a shortcut for people who want to try to invest without having many requirements.

Anyone here with any updates on shipping for the first batch, please post anything you hear as it comes in. I'm sure many in this thread are as excited as I am.

In the meantime I figured we might as well run some numbers again to try to estimate Dash/X11 difficulty in December as a result of these D3's coming online. I know we have visited this topic in this thread already, so I will try to include the data from previous estimates.

I'd like to do three versions, the first being a worst case/pessimistic estimate, second a best case/optimistic estimate, and a third 'medium' estimate which is an average of the two together (roughly in the middle)

Please feel free anyone to check my math and correct me where I make mistakes as I'm sure I will.

Lets start with some quick general information for those who may be new here:

1 kH/s is 1,000 hashes per second (sometimes mistakenly written KH/s). 1 MH/s is1,000,000 hashes per second. 1 GH/s is 1,000,000,000 hashes per second. 1 TH/s is 1,000,000,000,000 hashes per second.
1 kH/s = 1000
1 MH/s = 1,000,000
1 GH/s = 1,000,000,000
1 TH/s = 1,000,000,000,000

Global hashrate at the time of this writing according to this link:
https://bitinfocharts.com/comparison/dash-hashrate.html

is 38.7 TH/s

Each D3 hashes (approximatley) at a rate of 15GH/s.
This correlates to 67 D3 units hashing equate to one TH/s addition to the global hashrate.
If we divide the current global hashrate by the hashrate of D3's, we see that it would take 2479 D3 units running to create that same global hashrate.

Another way to put it is if 2479 D3's were to come online right now the global hashrate would effectivley double.

Doubling the global hashrate would also double the difficulty and reduce profitability by half.

This of course does not take into account the other X11 coins that can be mined, and it would not be reasonable to expect all the D3's coming out to mine only dash, but for simplification I will only use dash for these calculations.

We have seen a total of 10 batches of D3's go on sale (that we know of) for delivery ranging from late September to Late November. As other have pointed out in this thread, by looking at the checkout page on the bitmain site we have been able to estimate in a rough way the amount of D3 units available in each batch. As Ross from CryptoCrane points out, we do not know how many of these units are actually paid for after checkout, but it stands to reason because of the high demand for these most people who are able to get thgouh the checkout process will follow through and send payment. (Also we will for the sake of this first 'worst case scenario' that the majority of units ordered are being paid for).

Based on the total number of units for each batch that we have collected in this thread previously, it is reasonable (and again a 'worst case scenario' in terms of difficulty) we could reasonably estimate that the average number of D3 units available across all 10 batches could be as high as 20k units per batch. Of course the data shows that the number of units available varies, with some batches having higher numbers and some being lower. 20k units I am asserting as a reasonable 'worst case' scenario average across all batches thus far that we know of.

There may have been several batches available on the Chinese version of the site that were not mentioned on social media, by my count however there have been 10 total batches for sure.


Now lets run some quick numbers on a profitability calculator here:
https://www.cryptocompare.com/mining/calculator/dash?HashingPower=15&HashingUnit=GH%2Fs&PowerConsumption=1200&CostPerkWh=0.21

I assuming an electrical rate of 21 cents per Kwh (again, being 'pessimistic')

At the time of this writing, one D3 would yeild $2,604 per month. (already WAY down from when these units were announced by bitmain, as many have mentioned here in this thread this number has been as high as $7k a month)
source:
https://www.cryptocompare.com/mining/calculator/dash?HashingPower=15&HashingUnit=GH%2Fs&PowerConsumption=1200&CostPerkWh=0.21

More quick math: If difficulty merely doubles, that comes out to $1300 a month.
If difficulty increases tenfold, thats $260 a month
If difficulty increases a hundredfold, it would cost more to run the miner in electricity than it would mine, and the D3 would operate at a net loss of over $178 per month.

Worst case scenario here, is that by December of this year 200,000 D3's come online, which would add 2985TH/s to current global hashrate. Adding that to the current global hashrate for dash of 38.7 TH/s we get 3023.7 TH/s, which would be an increase in hashrate of a multiplier of 78.13 (what I mean is, take the estimated global hashrate of 3023.7 and divide it by the current global hashrate of 38.7)

Based on this (worst case) scenario each D3 would mine 33.38 per month before the cost of electricity.

So this is my first estimate, which I call 'worst case' estimate for dash difficulty by December. Before I try to do a 'best case' what do you guys think of my math thus far? I'm sure I have overlooked things. Any and all thoughts are much appreciated.

On a quick side note, I was able to put in an order last night for 4 D3's on the bitmain site, but based on this math I don't think I will be sending the wire, and I'll just let the order expire.

Without ICOs, there would be no Ethereum. Without Ethereum, the crypto market wouldn't have grown so fast. It's attracting a lot of capital right now.

Litecoin has everything Bitcoin has with less political mess and better management and execution.
With that said, Litecoin also has good network hashrate support.
Innovation is important, but there are other factors likes management, operation execution and etc. that could make a project different and become successful.
At least Litecoin is run by a legit group of professionals, with PRACTICAL and realistic goals in mind.

There are still many who consider litecoin as one form of coin that is still easy to use investment with the advantage is also larger and in the work pretty quickly.

Now I'm puzzled. Perhaps I don't have enough technical knowledge, but what makes you think that? I'm not a fan of Iota at all, I think it is so centralized to be practically almost a scam, but in this specific case, what makes you think they are lying?

LTC shitcoin will stop bleeding momentarily in 2 years for a halving pump from maybe $3-12. Just sell and get into a real crypto with actual fundamentals like Bitcoin Cash. Shitcoins and alts are done.

Litecoin is not totally dead but close to death, because almost no movement of litecoin in the market. I think a little bit time and this altcoin will gonna die, however hoping that developers of this altcoin will become active and improve it.

one meeting held today, its said that all exchanges will be closed gradually, what's more, after banning ico and exchange, the mine will be the next target, it seems the crypto in China will all gone

First of all, there is a professional and continously growing team behind IOTA which is based around a company located in Berlin, Germany.

Some facts regarding IOTA, despide all the current FUD:

IOTA is supported by INNOGY, a subsidiary of the multi-billion euro electricity provider RWE.
INNOGY on Wikipedia: https://en.wikipedia.org/wiki/Innogy
Ammong INNOGY, other global industrial companies such as a Siemens and Daimler are working on IOTA-based solutions.

Therefore, IOTA has a solid base in the "real world", unlike many other crypto currencies.

To be specific, IOTA has a real purpose, and is not just a speculative bubble like many other crypto currencies: IOTA serves as a means of payment in the machine-to-machine area (Internet of Things).

Forbes estimates that the IoT will already generate $470 billion in revenue per year. THAT is a real market, and a real "use-case".
Source: www.forbes.com/sites/louiscolumbus/2016/11/27/roundup-of-internet-of-things-forecasts-and-market-estimates-2016/#733f82ed292d

In the past days, a lot of false information (FUD) has been posted regarding IOTA. Obviously, someone wanted to let IOTA get down, so one could buy in cheap. This has worked perfectly well, as one can see on the current chart: A recent rise by about 25%!
Still, this is not nearly as high as the price was only a couple of weeks ago, when it was another 30-40% higher than it is today.

As the hard facts and the positive perspective regarding IOTA have not changed, despite the FUD & false news, the most possible outcome is this:
IOTA rises to its former price again, which from this day on means a gain of 30-40%.
Even if it would only get back to that price, it currently means a great chance either get in for a long-term invest, or a short-term trade.

Just my 2 cents. 


Further information regarding IOTA:
http://www.tangleblog.com/2017/01/25/the-tech-behind-iota-explained/

13th Sept >> #QTUM MainNet Release

There is nothing wrong with IOTA vision and marketing, Enterprises do want and invest in IoT, it is going to be a huge market.

However the iota devs are not drug addicts, they are worse than that, incompetent at IoT, incompetent at crypto, but very talented in selling hot air and fooling similar geeks of cryptocommunity.

Explains everything, hope more people buy vapor and promises from them.

The tech is retarded, the so called Tangle does not work without a central Coordinator, mixing PoW and IoT is oxymoronic.

This is the answer of Iota's dev to this accusation:

https://medium.com/@mistywind/iota-cofounder-sergey-ivancheglo-aka-come-from-beyonds-responses-to-the-ongoing-fud-about-so-ea3afd51a79b

It must be noted that what he is telling seems to make perfect sense. Sometimes you need the full picture...