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What is this plummeted you speak of?
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Again, China didn't ban bitcoin, it made impossible for people to buy it and for institutions to invest, people can still go down in the street and trade bitcoin or any other cryptos. To be honest I think China will come back on bitcoin and it will make possible to buy and invest with very strict rules As already said, HK is not China, have a look... http://en.wikipedia.org/wiki/Hong_KongThe price of BTC fell back as news came from China that government banks had begun blocking BTC transactions. This has put the currency’s Chinese future in danger in what had become its largest market. It’s important to put this move in a regulatory context. Many banks in the US and other countries are leery of BTC transactions. Critics charge that this is because the financial industry believes BTC could replace it. The difference between what’s happening in China and the way this has played out to date in the West is that US regulators haven’t banned Bitcoin altogether or levied special disclosure rules or other decisions against the currency. The SEC ordered Mt. Gox to follow the rules for a money service business (MSB). China, on the other hand, has banned new third-party deposits altogether. It hasn’t banned the currency as such, but absent any new supply of coins from third-party systems, there’s no way for anyone to bring new BTC into the system. Customers are still able to purchase BTC with exchange-deposited funds, and can withdraw cash from exchanges to transfer back to their original bank accounts. And my intention wasn't to start a flame China vs HK ! Don't Wikipedia on me, I don't like politics !  I was just wondering about that mining installation, how useless it is now.  Wrong on so many levels. What's to stop them from hoping on a flight from Hong Kong to LA and selling the BTC for 5% less than market value to a whale investor? |
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They want to maximize their profits, that is all they want to do. They saw an opportunity and they took it. They don't care about the consumers.
they care about their stock holders. If you have a shortage of supply and demand is extremely high you raise the price. As simple as that. consumers will still put these cards out of stock even at the current price. Newegg? share holders? |
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cex.io is for trading and not buying hash to mine. You won't profit is you buy just for mining purposes No. Exchange are for trading. KNC preorders are for mining. CEX.IO is for trading while mining. |
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18th December - still no reply - BFL just doesn't care - they probably already got rich as hell with the pre-orders.
I waited a year and 2 months for my 2 SC singles.. I was withing the first month of ordering. I am 21. This is a big fraction of my lifetime waiting.. The real insult was not letting people get refunds. Especially when it would make someone else's day because they would get their unit earlier. I'm hoping some litigation will finally smack them. Lots of people offered to buy Josh's offers back then, he could have easily gotten rid of the units instead of getting a refund, at a pretty good profit. See Unacceptable's post below yours. I agree with him. I could have put up my Single on eBay and sold it for 20K. Back then I could have bought 200BTC with it. Then BFL would fail to deliver on time and I would have an eBay chargeback. The only option to avoid chargeback would be sell it here for straight BTC with no conditions. I listed mine for 150BTC, then 100. Not a single offer. By profit I assume you mean fiat profit since nobody has ever made BTC profit with BFL....ever (unlike some of the Avalon peeps). |
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Just gonna bump this so all new people can see the gem that is BFL.
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if you plan on making money just buy BTC outright.
No miner being sold will earn you more BTC than you could buy with the same fiat.
Only reason to mine would be to support the network (as a cost to yourself).
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Just make sure you have the PSU switched off, do the paperclip trick (google it), plug in the PCIe connectors, then turn on the PSU switch.
People have killed their miners by simply plugging in the PCIe connectors from the crappy BFL PSU when it was already powered.
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Dude i am pritty sure you will be burning more electricity up than making any profit with that setup,are you not aware of this?
I've already gotten my money back (in dollars that is) a long time ago on everything except for the Cube which just showed up the other day so ROI isn't an issue. I mine more than my electricity costs so therefore I'm happy with it. its like a grab bag, little bit of everything Danny Exactly! I find all the ASIC equipment fascinating and enjoy trying to get my hands on as many different devices as possible. Who says money can't buy happiness. I would rather be happy than filthy rich. |
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Check the marketplace section on these forums for someone selling in the US with fast shipping. You will not get anything fast and cheap - one or the other.
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Why are you "upgrading". Do you mean you want more hashing power?
If the Avalons are too noisy or use too much power just sell them on eBay to a noob and buy BTC with the funds.
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The only time I had PCIe connectors melt was when somebody spilled some water onto a cable and it shorted/arc. I would reseat the cards and check contact points.
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How many ribbons strands per pin? Cheap risers only have 2, the better ones have 3.
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IS THERE A PLACE OR POOL THAT WILL REALLY HELP SOMEONE GET STARTED WHO IS COMPUTER LITERATE, BUT LOOKS AT MINING DIRECTION5 SO FAR AND THEY LOOK LIKE SOME OTHER LANGUAGE? SORRY NOT YELLING, CAPS STUCK.
Buying a new keyboard would be priority before any mining equipment. |
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Never use an exchange or pool as a bank. Only keep $ on an exchange that you're willing to lose. Of course with no risk come no gains, but there is a risk with all exchanges at present.
Well, as I said previously; "naturally I would not keep much coins in such an account, maybe transfer them to own wallet 1-2 times a week". But it would just be easier to mine altcoins directly to an account where I can trade with them to other coins, instead of creating a separate wallet for every coin type. If you're trading them everyday at BTCe then yeah that would be fine. Just make sure you pull the profits out every week or so just in case. |
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Looks like a complete reboot. All miners have been deleted as well as any history. A "clean slate"..... should have changed their name to 25BTC while they were at it  |
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Personally, I love cex.io but it's a lot less about the mining than it is about the trading. Just like others pointed out, most of my BTC revenue from cex.io is generated from trading.
With the difficulty changes, there's plenty of BTC to be made with trading.
Well if you can double your hashing power via trading then you come out even based on current prices. If you can do more than you made money. Unfortunately most of us don't have that hot a hand. |
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And this is why if you want to invest in BTC you buy BTC on an exchange (and use it). If you want to mine, you are probably going to be doing it at a loss (unless you own a chip design).
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It's easy to picture the ASIC manufacturers mining with customers' equipment for as long as they can before shipping, but I don't think it's actually all that easy to pull off.
Getting caught would likely mean big fines or a PR nightmare. They would somehow have to hide it from the majority of employees so the secret doesn't get out.
You're new here so you missed all the scamming. Big fines? By who? Avalon mined with their customers equipment for months and then shipped the units which had obvious signs of use. Users even found their machines configured to mine on pools and when the addresses were checked they saw the machines mined for weeks-months and payments sent to Avalon. Hence the hatred of all things Avalon and Yifu. BFL is suspected of doing the same but no confirmation with definitive proof as far as I know. They shipped units that have build dates from weeks prior. And they're suspected of giving their COO and other privileged people mining equipment ahead of paying queued customers. Then there are the fails and scams companies which just run away with money like bASIC. None of these companies have paid any regulatory agency a single penny. PR nightmare? Doesn't stop BFL and Avalon from selling to new users  |
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The earnings for a set hashrate have been going down at around 30% per 10-11 day period for the past 4 months. Basically each month you'll make 1/2 what u did the previous month. In 2 months earnings will be about 1/4 of what they are now.
Coincidentally the Jupiter spits out 500GH/s - to earn the same amount in 2 months you would need 2TH. Cointerra's 2TH rigs will be making then what Jupiters make now.
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