I have never thought of that!
Why has nobody brought this up before?!?
It has but when anyone has brought it up, they were decried by the community for the most part. We are at a point were mining is almost unprofitable on whole to maintain this level of security and difficulty. |
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Exciting to say the least. I have been involved since 2010. I am going to be writing a major post to address some serious issues. I have gotten little sleep the last 72 hours, thinking and contemplating the future. I am made many predictions that have some to pass on these forums and speaking to various members of the community.
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Unless an operation has exclusive tie up with ASIC manufacturers, it is very difficult now-a-days to run a profitable cloud mining service.
Correct. At around $4-500 per Bitcoin coin, the difficulty limit for breakeven mining under the best conditions was around 100 billion. With the price basically cut in half, we are basically there or rapidly approaching that point. I have been staying up the last few nights thinking about where we go from here. Satoshi gave us Bitcoin which is wonderful but I think we are seeing evidence that he was wrong on one critical point. Bitcoin can not survive long-term based on a model where human greed and self-interest is what secures the value of the network via mining. It worked while it was still GPU mining via off the shelf hardware and the mining was decentralized enough to keep it profitable, while at the same time the hardware investments could be resold or refurbished for other uses if it didn't work out. Now it is a straight speculative bet based on future price and difficulty movements and once it unprofitable, it is basically trash for the most part. The ASIC manufacturers that are legit and solvent on in control at this point and I am doubtful that control will ever be wrung from them while Bitcoin is a going concern or unless the developers take a drastic action. |
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As painful as this drop feels, maybe we will see industrial mining start to wane if the price stays low for a few months.
But my instincts tell me that this will barely hurt the strongest manufacturers such as Bitfury, at least in the near-term. They strongest may even continue to take a larger percentage of the network as the weaker competitors dropout and home mining stops completely. And I think that will destroys the future of bitcoin as we know it.
I doubt it, it is too easy for the ASIC manufacturers (that are solvent) with their own hosting capability to pick up the slack of any drop in difficulty. |
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I have reached out to a few other experts to get their opinion on this. At this point, this seems to be very reasonable to explain the action we are seeing along with all the technical trading that goes along with such a large and quick price decline.
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As per the title, we are selling 10 Hashfast Sierra. They come as-is, they are functional units that were decommissioned and stored well. PSUs are built into the unit and they are rack-mount ready. The customer will be responsible for covering the shipping costs to their location. Hardware Count:10 - HF Sierras Please PM me direct with your offers. Thank You  |
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As per the title, we are selling a bunch of KNC Jupiter and Super Jupiters. They come as-is, they are functional units that were decommissioned and stored well. They do come with controllers boards & high-quality PSU. The customer will be responsible for covering the shipping costs to their location. Hardware Count:6 - KNC Jupiters (Oct Batch) ($150.00 ea.) 8 - KNC Super Jupiters ($350.00 ea.) - Please PM me direct with your offers. All replies will be directly PMed -  Thank You |
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As the title stated, this is the sale of 62 TH/s of HashFast ASIC boards. We are looking to sell it immediately. Specifications: Hardware: 150+ Hashfast Rev 1, 2 (Mostly Rev2) w/ attached liquid coolers Speed: ~500 GH/s (depends on clock speed setting) Power Consumption (est.): ~550 watts per board (depends on clock speed setting) Availability: Immediately Hardware Price: $140.00 per board   PM me directly for more details. |
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Geez, the fallout is real. Consolidation is the next step.
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The temps that refrigeration operate at usually are at a level where you see condensation or icing. When you get below the dew point, you will see this effect. Even with de-humidifcation, it will not be fast enough not to potentially hard your electronics. Try this, get a humidity meter and set the frig to the operating temp you want to run it at and take some readings. Next step would be to add some load in there and run it for 3-4 days and see what builds up on the unit before committing to building it out.
What you could do if you find it doesn't work, is use the existing ducting and to that attached your cooling equipment and still use the room and any electrical outlets it may be wired for.
Does that explain my thinking on this a little more? We actually looked at a frig unit as a space way back when and this was a concern for us.
-D
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The space could work but I would not run the refrigeration unit, this will raise the humidity in the air and your electronics will not like that. Using it though as a quality insulated room and getting some other from of cooling piped in could work well. It is surprising that no 480v volt is in the building with all those compressors and motors.
-D
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Major update. We are completing our new facility to provide even more value to our mining community. Cheers
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Major update. We are completing our new facility to provide even more value to our mining community. Cheers
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Price update, new major announcement in the coming week.
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Price Update. Major announcement inbound in the next week.
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Called that. It doesn't even feel good.
-D
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Goto their website and see the official notice.
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PM Sent two days ago. Waiting for reply.
-D
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