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3 months ago I was making 0.6 BTC a day at $3 a day since the exchange rate was $5 per BTC back then.
Now I am making 0.3 at ~$3.60. Doesn't seem like profitability is going down at all.
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I have no idea why he concludes that this is due to BFL testing ASICs.
The graph closely relates to the price of bitcoins, which can be the reason more people are mining.
Bitcoin has also received large growth so it's not surprising actually to see the hash rate increase that much. It's inevitable with so much profitability.
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Yeah, I found that deceptive piece of junk searching bitcoin topics on google. "40 GH/s GPU" ad sponsor. My ass.. Not to mention the landing page shows the FPGA single not an ASIC chip. |
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Just have a really good chassis that is fully covered to not allow insects in, but of course enough mesh to allow air to go inside.
I have one in my garage mining 24/7 and they stay at 55C - 60C even in 100F temperatures in Texas. Just keep the fans at 85% and they'll be fine.
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hmm wasnt expecting you to actually deliver, I guess I'm just a skeptic. Why sell now? they are nice systems but there's probably no way you'd even break even at this point.
 Now where are the offers? Is everyone down on GPU mining? Yes. Exactly. It takes about 3 gh/s just to make a btc per day. Things are getting rougher each week. If I'm correct the value of 1 BTC is a little more than double what it was a few months ago.... and maybe that has something to do with the higher difficulty? Sure. You are correct about the price. diff... Well.. I am not sure. But what i meant about rougher each week is not only diff going up... Soon rewarrd is getting cut in half, asics may soon start to arrive, and price is not guaranteed to match raises in diff. In dec we may have 8-10 btc price instead of 12. We might have triple the diff and only price of 13. Things are going poorly for future gpu miners as i type this. I would like to buy the rigs but i will not insult the seller with my very low offer.... He can do better on ebay. I'm not even worried about ASICs at this point. BFL has a very bad record on delivering on time, ASICs probably won't come out till next year. The other thing about a block halving is that people will drop out of mining. This will lead to a drop in difficulty and therefore you can profit again. |
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The Bitcoin community has made BFL rich on nothing but words. It is irrelevant whether or not they develop an ASIC . BFL has won. There are even people sucking BFLs balls in their signatures praising them for a product which doesn't even exist yet.
Yeah, if they indeed come out with a working product then I will buy from them. Meanwhile the people arguing for BFL have nothing but to hope they come with a product because they pre-ordered without thinking it through. Why would BFL even have pre-orders? It's because they didn't have enough money to even develop an ASIC. Think about it, if only 100 people pre ordered for ASICs and no one else they would never come out with a product. |
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hmm wasnt expecting you to actually deliver, I guess I'm just a skeptic. Why sell now? they are nice systems but there's probably no way you'd even break even at this point.
Now where are the offers? Is everyone down on GPU mining? Yes. Exactly. It takes about 3 gh/s just to make a btc per day. Things are getting rougher each week. If I'm correct the value of 1 BTC is a little more than double what it was a few months ago.... and maybe that has something to do with the higher difficulty? |
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Correct.
BFL is however the most discussed and speculated on this forum and therefore it is a good example of what could be a scam.
I would not invest in any other companies or groups here announcing an ASIC because they have not provided proof either.
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There's a reason why they call it the "long-con"
So you agree with me. You're going to start shopping exclusively at Wal-Mart too? How exactly can Wal-Mart rip you off if you're receiving an actual product that works? There is no sign that BFL has a working ASIC product as of yet. And why would they use deceptive marketing? That's a really bad practice. Another good point that is in fact true is that BFL did not develop the FPGA on their own. Someone can easily buy that chip from the supplier for BFL. In the case of ASICs however, BFL does not have a supplier and is therefore dependent on developing the ASIC themselves. The FPGAs were different, some other company developed them. Knowing that one can state that BFL may not have the experience needed to fully develop an ASIC. The FPGA single is not CUSTOM at all. |
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They used the picture of an FPGA single because they want people to believe they have a working product and for people to order the product, when they probably have NOTHING done at all yet.
I bet they won't even come up with a working product, and rather run with everyone's BTC and money and all trade ins.
Isn't that a smart idea for a scammer? Get people to trust them by shipping out FPGAs that are working, pretend they have an ASIC coming and wait for the trade ins and just run?
We've already seen it. They're deceptive and trying to trick people.
They really probably don't even have the investment capital to fully design and develop an ASIC. It's a joke.
So unless they really come out this is what my thoughts are. Don't pre order unless you can find a WORKING product. There's no guarantees they will follow through with it, and we have absolutely no proof they are working on the product, no pictures or anything.
This is what people have been saying since the begining, all these supposed ASIC sellers are full of shit. Yep, so I'll just continue with actual working products, such as GPUs and FPGAs. Those are existant, ASICs for bitcoins are not physically existant at the moment. |
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They used the picture of an FPGA single because they want people to believe they have a working product and for people to order the product, when they probably have NOTHING done at all yet.
I bet they won't even come up with a working product, and rather run with everyone's BTC and money and all trade ins.
Isn't that a smart idea for a scammer? Get people to trust them by shipping out FPGAs that are working, pretend they have an ASIC coming and wait for the trade ins and just run?
We've already seen it. They're deceptive and trying to trick people.
They really probably don't even have the investment capital to fully design and develop an ASIC. It's a joke.
So unless they really come out this is what my thoughts are. Don't pre order unless you can find a WORKING product. There's no guarantees they will follow through with it, and we have absolutely no proof they are working on the product, no pictures or anything.
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I currently have my rig in the garage for mining, which is a big problem since whenever I go out there I'm attacked by mosquitoes because I leave a door in the back of my garage open for better ventilation.
However it seems like most people here mine indoors. For example, when looking at the pictures of your mining rigs page I see people with their rigs almost exclusively indoors.
How do you guys do it? AC will double the amount of energy consumed if I am correct.
Do you just not care about profit and just leave the miners indoors for comfort and the fun of it?
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I am mining with a 5850 and 7970 for a total of 850 Mhash/s on bitcoins.
My question is, how would I know how much I will get on litecoins?
Is there a website that details out the specifications for hardware much like bitcoin mining hardware comparisons?
Well, 7970s suck at Litecoin mining at current, they crash with difficulties above 12 or so, which is a problem. Your 5850 will mine Litecoins like nobody's business, I'd say around 350-500kH/s depending on OC settings and cgminer/ configuration. With that in mind, you can enter your hash rate into http://litecoinpool.org/calc and find out how many Litecoins you could make a day mining with PPS pools. Hmm, that's interesting. Why would the 7970 crash when mining litecoins? Will there be a fix for such? |
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I am mining with a 5850 and 7970 for a total of 850 Mhash/s on bitcoins.
My question is, how would I know how much I will get on litecoins?
Is there a website that details out the specifications for hardware much like bitcoin mining hardware comparisons?
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Awesome! How long had you solo'd with that setup?
Unfortunately I'm on a pool, and I found out I solved another block just around the same time two. That makes for a potential 50 BTC when I've only earned 4 during that timeframe. When your rig is lucky, your potential earnings are against you  (on a pool) |
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850 Mhash/s Solved a block yesterday at a difficulty of 2,694,048. What an unexpected outcome, considering there's ~23000+ other rigs if all rigs were 850 Mhash. Just had to share that  |
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I doubt they're testing ASICs.
Many people have video cards, and there is a large growing interest in bitcoin, leading to more mining in times of high profitability.
Earlier miners or new miners have come into the scene as soon as it became profitable is the most likely explanation.
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That's just the minirig line from what I understand. They also have a few people working on singles and will have separate lines working on the different ASIC models as well.
By investing in this production now, when will I receive the finished product? They need to open a factory to make it happen this year. And with that many orders they WILL NOT be able to ever fullfill peoples' orders. They simply don't have the money to open a factory assembly either. The amount of capital and revenue they are receiving is way too low and will not last long term. |
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Seems to me the price of gas has been going down for years...but that's because I price things in silver. Exactly my point Not to mention oil and natural gas probably doesn't come from 100 million year old dinosaurs. That's a little far fetched since they would decompose to nothing. http://www.sciencedaily.com/releases/2009/11/091104123032.htmAlso there's a crapload of natural gas in OCEANS on Titan, a moon of Saturn, due to the low temperatures allowing the gas to liquify. There was no life there, was there? I tl;dr the URL, though many years ago Titan was somewhere else. There could have been life there at some point. There could have been life on Jupiter, Saturn, and Neptune too right? They actually have a significant amount of natural gas in their atmospheres too. Also if you read the article, you would clearly find that natural gas can result from purely abiotic chemical reactions. Natural gas can also be strung together into higher chains of hydrocarbons from heat and pressure. |
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Seems to me the price of gas has been going down for years...but that's because I price things in silver. Exactly my point Not to mention oil and natural gas probably doesn't come from 100 million year old dinosaurs. That's a little far fetched since they would decompose to nothing. http://www.sciencedaily.com/releases/2009/11/091104123032.htmAlso there's a crapload of natural gas in OCEANS on Titan, a moon of Saturn, due to the low temperatures allowing the gas to liquify. There was no life there, was there? |
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