Thanks for the reply could you elaborate? So I have to start from the beginning? Say It take 2 hours to achieve a block but I mine for 1 hour and then shutdown my computer do I have to wait another 2 hours to mine a block again or only an hour?
I would have to wait another 2 hours? Hairy, the smallest quantized unit of work is a share. You submit a few to hundreds every minute. If you shut down at any time you only lose a very small amount of work - almost unmeasureable unless you start/stop your miner every 20 seconds or something stupid like that. No single person starting off is aiming for blocks (only solo miners who have massive farms and you would know if you were one). Just keep doing what you're doing and mine when you can. |
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My salutation to the man who endured this. Now that the fraud is proven in the civil case, I hope that the criminal case will follow. It would be nice if the US justice introduced Zerg Joshlan (or what's his name) to the US prison system.
I don't think anything was proven unfortunately. BFL failed to represent itself at trial (for whatever reason) and the judgement went to plaintiff. Assuming they're as responsive to legal notices as they are customers they'll see the subpoena sometime around February..... 2015........ or 2 weeks. |
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Wonder how he designates their value to the IRS for campaign funding. Price at the time of receiving the coins? Are they converted to fiat instantly?
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Well the best way to bring down a business is to hear stories like that.
Athom, wanna help the guy out and find an amicable resolution?
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It's not because the display card does more work. The display card would actually run cooler then since mining (scrypt anyways) pretty much maxes out the card while basic renders for display are minimal work and actually cut the 100% throttle of mining.
The #1 card (the one in the top slot) is sucking in hot air from the back of the 2nd card. If you swap the card positions you'll notice the cards will swap temp gradients.
Only way to fix that is put some good distance with risers.
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It's pretty cheap now... It's like people overestimated the decline due to difficulty increase and panic sold all their holdings. I've never seen it this low before and the difficulty didn't rise THAT much.  Yep is now a far price :-)  That's approximately what you get for your investment (based on their current "low" price/GHs and the example/assumption of it being all cloud mining) :  You better be full of hope that your GHs resale price make up for that >60% shortfall in profitability (hint : it won't by a far margin).... And that delta is exactly what cex.io is living off... Skimming 20-30% off its customers while cex is running its own hardware @ true cost (which is far below what their customers pay). You could call it a ~25% customer fee if you like (the price of the convinience you have mining with their rented GHs). Legit but designed for people who are bad at or can't be bothered with math - but have deep and forgiving pockets. Their prices are so bad, not even merged mining @ full reinvestment of BTC/NMC/DVC/IXC could remotely recoup the total investment. If you did that till the end of time, your total net worth would approach 0. It's a money-making machine for them, a money-burning machine for the customer. And since you need to stay fully invested with them if you want all those GHs hashing for you, the term "counterparty risk" comes to mind. They have none and all your BTC, you hold nothing in your hands and carry all the risks. In the Investment world, that is called a worst-case scenario. When the music stops playing, even the most math-disabled/convinient people will very quickly find out what these terms mean in the real world. Translated into another format : If cex.io was your Investment strategist with a business plan, you'd be better off firing him - because he's losing your money (which he pockets) every single day. -- edit -- Forgot one thing : What I do like about them is their exchange functionality, no trade fees are and withdrawal fees seem very acceptable compared to other exchanges.
Must me 30% or 35%Pay close attention. That's difficulty change per month, not difficulty period. If we assume it goes up at 30% every 11 days, then in a long 33 day "month" it will go up 1.3*1.3*1.3 ---> 2.197 or 120% increase in 33 days, worse then the 99% in 30 days. |
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The pools have no idea with what you're using to hash. All they see is submitted shares and they calc your rate based on submitted shares. You can theoretically mine for 5 min and not submit a single share - during those 5 min the pools has to guess your hash rate is 0.
If the 24 hour average is lower that what your machine says you're losing to disconnects, latency issues causing stales, or just dumb luck of not finding shares despite having the power.
Variance of 5% is normal, so those puny miners won't do anything to the stats really. Anything more should be investigated.
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Whats with the 7.5% fee?! It was 3%, then 5% and now it's 7.5% and we didn't even get a notification that the fees went up?  Explaination please It's been like that since August or so. Nothing new. That 7% is for PPS since it is very risky for the pool. PPLNS remains at 3%. |
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If your system has locked up completely no software will alert you other than another system monitoring it.
You need to find out what is causing the instability and resolve that first. After than CGWatcher or APIs or using the pool's notification system might help.
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You will not be able to mine 10 BTC with a Jupiter in the next 6 months. You would be better off buying BTC on an exchange.
If BTC goes to $10k USD you'll still make money, but again you would make more by buying the coin directly.
Solo mining on a Jupiter would only be profitable compared to pool mining if you happen to solve 1 block in the next few months while you have a chance. If someone could answer your question about whether it is or is not they could tell the future...
When calculating ROI I think you should also consider resell value, i.e the Jupiter might bring in 7 BTC but when you sell it you get 4 BTC as well. Just a thought. Resale value only depends on: 1) What time you sell it 2) Whether you're able to catch an ignorant/greedy buyer If he resold it in a week a like-minded person to himself would offer 9 BTC. If he sold it 6 months from now and it had a lifetime utility of less than 1BTC left you would need to find a big idiot who will pay 4BTC. Every time a sale occurs there's miner downtime, possible escrow fees, possible shipping fees. So you only come out ahead on BTC if you find an idiot for lack of a better word. As long as you're not deceptive there's no problem with that. Whether you choose to disclose to the person that a 4BTC Jupiter can only earn 1BTC 6 months from now is up to your moral code. |
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at BTCGuild i get best payoff for my hasing power. not sure why, but it beats other pools.
Low stales, high reliability (low chance of failover losing work), good fee rate, an admin that actually responds to user questions about problems with stats unlike some other pool admins who go months on end without saying a word (sorry, was foaming at the mouth there). Good job E! |
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1) Yes - the higher the difficulty the more energy (ie hashing) must be spent trying to solve the block
2) New coins will usually not have a pool ready since they will be... new. Not too many people know how to properly set up a pool and would dedicate resources to it without it having any merit. Solo mining is the only option then. If there's a pool setup for a coin, it's probably better to pool mine that coin.
3) If some new alt comes out you can try solo mining it on day 1. Ultimately you're chasing a gimmick 99% of the time (by history).
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You will not be able to mine 10 BTC with a Jupiter in the next 6 months. You would be better off buying BTC on an exchange.
If BTC goes to $10k USD you'll still make money, but again you would make more by buying the coin directly.
Solo mining on a Jupiter would only be profitable compared to pool mining if you happen to solve 1 block in the next few months while you have a chance. If someone could answer your question about whether it is or is not they could tell the future...
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The people with small change lost have probably already walked away from this nightmare. Call it a life lesson and move on.
Those who lost big might actually pursue legal recourse - but spending $ to chase after bad money. So far very few successes in bitcoinland.
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I've been reading up on group buys and have been looking at it, but most of them want BTCs as payment, so it goes back to how do you get BTCs without mining them? Paying someone 20% more than what they are worth on localbitcoins? I guess I'm kind of reserved in paying someone for a product that I'm never going to see and hope they pay me out.
Go to coinbase.com and buy bitcoins at current market value.... +1 this. Only reason to mine: 1) You want clean coins (solo mined with no transaction history) 2) You enjoy mining more than you enjoy profits (this currently applies) 3) You want to support the network. Buying coins is the better investment right now. If you absolutely have to buy something now that is in stock, Antminer I suppose. Even KNC Jupiters and Neptunes are a gamble. CEX/Cloud mining is tossing $ down the drain unless you get lucky flipping to others (and if you're that lucky go buy lotto tickets = satoshi dice) |
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Does not alter the hashrate, although some boards have issues detecting cards properly (compatibility issues).
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Welcome to the forums. Couple of things:
1) You posted this in the wrong subforum - we have a marketplace area where people buy and sell hardware. Place future posts there.
2) Nobody except for trolls will answer your post since what you're asking is, honestly, a troll request. You want a 1 month ROI? I want a flying car. It's not going to happen. Somebody might sell you 1 with a 6 month ROI price, otherwise it's not even worth the shipping costs. Consider making the ROI period something more reasonable like 4 months and somebody who doesn't want to deal with the heat or noise might sell one.
Europe is a big region, might want to specify the area a bit.
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Even worse for 110V with crappy wiring - no hope of running a Naptune
there's a 220V plug at electric dryer hookups and central ac units in US. I guess it will need additional wiring. The second I interfere with the dryer by unplugging it my wife would give me an earful. You need to improve at marriage. What the Hell's her problem, taking up $100s per year for no reason. Here you have the miners to dry and heat clothes, and she still wants to use a redundant machine specifically for drying instead of putting the clothes on a line? Wow, what an asshole. Here you are, trying to cut down on electricity costs... YOU are the victim, my friend.  I wonder if BTC is split during divorce in states like CA.  Something to consider before playing the victim card  Either way I doubt many in CA could mine at home anyways with my residential power now at $0.34 |
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None don't do it. Just buy and hold.
If everybody held their coins then BTC would no longer be used as a currency and would become worthless except for nostalgia hoarders. Build a dogecoin rig or something of that nonsense. BTC ASICs will usually not repay their BTC investment although they might break even on fiat basis. |
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If you can get relatively fast delivery I would say it's a deal not having to waste your time building it and the sooner it's up the more coins it can mint. $3k seems fair.
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