ok so here are my calculations: assuming cost of electricity, real estate and labor all cost ZERO - and bitcoin price remains constant
both methods show big losses - so unless the chinese are getting these devices at 1/3 the price we have to buy them for, it makes no sense.
Average 2 week increase of bitcoin difficulty in last 48 adjustments of 2 week periods, is 6.1841667%
antminer s7 batch 9 is probably around $1200 at best possible price
so after 90 days:
Output Over 90 Days
Difficulty after 90 days: 171571712432.0.
BTC USD
Revenue 1.54586823 589.04
Hardware Cost 3.14927567 1200.00
Power Cost 0.00005669 0.02
Profit -1.60346412 -610.98
now assuming a block halving and mining for 365 days
Output Over 180 Days
Difficulty after 180 days: 244758616301.0.
BTC USD
Revenue 2.60425378 992.32
Hardware Cost 3.14927567 1200.00
Power Cost 0.00011337 0.04
Profit -0.54513526 -207.72
and then over the next 180 after block halves : Revenue 0.60896981 232.04
so after 1 year of mining with the halvening, i can count on $25 profit - by risking $1200?
your error is using 48 weeks for your diff average . it gives you 6% you could go from Sept of 2014 until now the average is different you could go from Jan 2015 until now the average is different. do 6% do 5% do 4% do 3% do 2% do 1% keep price at 400 any of the above could be true from now until July1 and any of them could be wrongBTW we had about 3.4% diff for the year of 2015 Batch 9 is currenty: 918.07 USD . Also a psu if Bitmain 140 and there shipping. The PSU should still be good and you can use it with another miner or sell it if you actually are just mining 1 miner. If truly free electricity you should ROI, when is the question. The 3 month ROI just does not happen anymore that was long ago. Only way now is if you mined for 3 months and then sell gear and got a profit from sale. I would really check with data center though. After they see the heat from miner most server farms would not want them in there I don't think. |
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EDIT:
yea, oke I got that, but what was the thing? 2FA code? is that another term for the second password,
or is that another term for that secret sentence of maximal 255 characters?
give me please an EXAMPLE of a private key,please
because this is still very unclear to me,
I just don't understand WAT that private key is and where to find it
Your using bloockchain.info so from their site: Two Factor Authentication SMS Message - A Message will be sent to your mobile phone containing an authorization code required at login Yubikey - Add a yubikey hardware USB device to an account Email - An Email will be sent to you containing a code which must be provided at login. Google Authenticator - Google Authenticator is a free android and iphone app which generates an authorization code to provide at login. Those are all options you have to use as a 2nd factor. Goal is even if a "bad" guy gets password hopefully the 2nd challenge will keep it where they cannot get in. |
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But this news is old and is slowly dying. It's just hard to get it to die quickly with his dramatic words.
Just another reminder that however great you think you are we are all replaceable.... Yes Bitcoin is still sufficiently fragile that the market reacted, however we are already recovering, and people have very short memories. Rich I would agree we are in mid 380's again.. so slow road back up to 400+'s. But at least did not dip as bad as it could. I think him making the comment around Cryptsy news added more credibility to him, then he deserved. He could not have picked a much better time to come out and try to hurt BTC. |
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So since these chips are so efficient and powerful. Why sell them and not just mine themselves instead?
You are right about that, but I don't have $1M so I can't buy chips to build miners and go mining... Even if I want to buy rev3 chips for like $10000 or $50000, no chance how things look right now... The reason is the MOQ is so high it helps out on r/d costs, costs of their own machines, etc. They sell in such big quanities that they will make a good profit. So if they have the opportunity to sell a few bulk and make a few million easy quick ROI by selling chips. I predict they will do it, the trick is meeting that MOQ. |
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Q Question:
Now I'm using blockchain.info on my laptop to do transactions.
But do I understand well, that this is a "hot" wallet en do I understand well, that this is an "online en also a web-based" wallet?
please a reaction, because may be I'm on the right path now
nice evening, peter
(here in The Netherlands, it is 21.45 uur)
You are right that it is web-based wallet. It would also be hot wallet as it is always online for anyone to access it. If it were cold it would not be connected to internet full time. But my biggest advice for you is if not already make sure to turn on 2fa with blockchain. |
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I would agree you wont currently find A6's for 1000 or less. Maybe if you were a massive buyer, but that is just speculation. Realistically the cheapest is 1100 Phil mentioned. Is zoomhash high? Yes they are they buy machines and sell them as a reseller so likely they will always be above current price of mining companies (unless they buy a big amount). They really are good machines but purchasing 3 best you can wish for is the group buy mentioned for 1100 currently. |
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Mike Hearn, "
trimmed
I trimmed it down to all you need to see. Anyone watching news on bitcoin likely has him in part (in addition to cryptsy) to thank for some of the downturn. Him making such a public exit was childish. To want to hurt the project hes been working on.... again childish. Also he sold coins before he sent out his rant so in a way I view him as trading with inside knowlege as he knew what would happen after it. Did he warn friends? Could others of profited knowing they should sell and buy back? We likely will never know. But this news is old and is slowly dying. It's just hard to get it to die quickly with his dramatic words. |
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I thought an S7 produces about 4.7 TH/S, not 7.4 TH/S as OP's. Unless OP got a magical S7...
I would bet it's a "digit transposition" as opposed to a "Magical S7". I didn't look at hist quoted rate, and just couldn't see a "non magical" S7 doing 1BTC per month (before running expenses). That is kinda the key is it's before expenses. So every person will be different chances are on profit. But it is possible some bought S7 at 350'ish if they used fiat they got a decent deal as far as miners go currently. But I would agree it was a typing mistake on 7.4 . Easy to do when it's just 2 digit's and typing fast. |
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Please post the math of how mining with a s7 makes financial sense Mr tesla
Well you would need a few things in place. Decent or cheap electricity is a must. If you don't have there are hosting centers. But everyone likes them at home if possible. If you have that then there are a few way's. What I think has become the most common is to mine till it seems you are not making enough at your electricity rate, then sell to a cheaper or "free" electricity user. Some peoples ROI will hinge on the sell. But it's common at this point. But those make it possible to do. Not guaranteed profit, if you want guaranteed go buy a savings bond and make small percentage with low risk. |
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I would suggest learning the forum a little bit first. If your first action on forum is to try to get in sig campaign.... I think your using the forum wrong. Remember you will be judged harder on posts with a sig. If your posts are short or not worthwhile it will lead to a ban.
Use your newbie day's to learn about bitcoin, the site, and honestly you are not losing much in signature money during that time. It is a time to learn, not to join sig campaign when being newbie. That is how I feel at lease I'm sure some will disagree.
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These days people like an easy way , for example many of them trust a third parties like exchange , online wallet even they forget to enable the second factor authentication(if EXTs like you hackers will not) , so i think it is bad idea to trust a third parties with a big amount of BTC even for 4-5 mnt .
Best way is use offline encrypted wallet @ using Linux as host (virus free) ,
If you truly are not going to use it I think a properly done paper is better then a computer even offline and encrypted. Paper there is no connecting it to online if done proper and stored like in a safety deposit box, that is really secure. And I have became pretty big believer in hardware wallets. If your going to use it and need access to it I think then go hardware. |
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BIG UPDATE:
-Removed bitfury's 100MW datacenter. It doesn't exist, it's the same DC as the 40MW one. If you look here their 100MW datacenter is only quoted as "up to" 100MW, they had a seriously misleading press release. Also, the 40MW and 100MW datacenter are located in the exact same technology park. Plus, they are never both mentioned in the same press release, kind of like superman and clark kent. http://agenda.ge/news/43030/eng-Removed bitfury's 8.5MW datacenter. It's actually owned and operated by Advania (datacenter company), and I can't tell how much is used for miner hosting. Maybe bitfury uses it, but right now I don't have a source for it. http://stundin.is/frett/vafasamar-tengingar-staersta-gagnavers-landsins/-Downgraded bitfury's 20MW datacenter to 10MW. Another misleading press release, if you see this news report (and translate it), you can see that they only pay for 9.9MW of power from the power company. If anyone has a conflicting (non-bitfury) source please help me out. https://translate.google.ca/translate?sl=auto&tl=en&js=y&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Fnetgazeti.ge%2F2015%2F08%2F06%2F48634%2F&edit-text=&act=urlActually, that article has tons of juicy info about bitfury. Namely, it appears they've spun down their icelandic mining operations (part of the reason for removing it), and their datacenter plan in finland failed. I suspect both of these have to do with electricity rates impacting the bottom line, but that's just my opinion. Apparently they pay $0.01c/kwh in Georgia when converted to USD, which is impressive (not 100% sure on this one, the article doesn't specify whether the rate is in USD or GEL). Well, after the dust settled it looks like I was seriously underrepresenting the USA/China market share. Anyways, that's all for me. Interesting to see one thing I can think of they might want some empty spots for their new chip once a full miner is ready. So if they do have space right no its good short term... but long term I would guess once new miner comes out it goes right into empty spots. Also I could see them trying to unload some of the older miners to make space for the new ones. But we still don't know how long till they are pumping them out. |
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Are there any losers you have not shown? It seems like you could have not been right 100 percent of time?
The Nov.4 purchase has been my only loser (so far; given the price of ~$385 USD at the time of this posting). I got caught in the emotion of that rally, and went against my better judgement. Thanks for sharing. I have to give you some credit that is a pretty solid investment portfolio on BTC buying. Any system you use? Or just buying when you feel it's low? |
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I would suggest also getting the Y adapter. It is really nice your able to get power off 2 ports. I used decent usb 2 hubs but with the y adapter for power I was able to OC. Around 16GH is about as high as I pushed it. But you can get those Y adapters pretty cheap on ebay to. |
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s3 becoming unprofitable....at 0.10cents a kwh it is "break even" right now. Home miners are still good with the "free" heat from the s3. But big mining farms can no longer run the s3. When the winter is over, that will be it !
Damn thats something. I believe this to be a drop in diff, but this effect will be temporary.
It's not to surprising though S3 is a bit dated were talking 2 generation back, 3 if you include bitfury. So that is a long time in mining time. They were built like tanks on S3 so many will continue to run. They will end up in cheap or free miners hands. So they still have people who can run but it's getting smaller and smaller on amount feasible to use S3's. |
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I would assume paper would be the safest, but a good hardware wallet like keep key or trezor, or a dedicated machine who's only purpos is running the Bitcoin client off line.
Personally I like hardware wallets over a dedicated machine. Trezor is likely the most popular. For it to keep key on it and do the signing is huge as it can't be compromised. A dedicated machine has a lot more chance of compromise. I also did a hands on with one: https://bitcointalk.org/index.php?topic=1298917.0Paper wallets are still a valid option. If you are sitting money aside and not touching it for year's. It possibly is best option. All depends on use. |
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snip This is a private group of friends that are not directly related to any organization. The only organization they work with is: http://adoptalo.esy.es/It actually doesn't matter much where you donate (to her personally or adoptalo) because donations are always needed! snip This is part of reason so much proof is needed. You need to restructure it where it goes directly to the organization. Having it go to a random worker at a charity is not really right way (unless they have officers and it is the finance officer). You really need to go through official channels with the organization. And again I love dogs and see how this pulls with heart strings. I'm just trying to tell you what I think you will have to do before there is a chance of donators. |
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If you don't want to spend money on hardware, paper wallet is good choice.
The cheapest hardware wallet as far as i know is the ledger HW.1 which is 15€ it's not expensive saying the truth, then ledger nano, ledger unpluged, trezor, keepkey. My friend bought a ledger nano, but actually I don't know how it works  This is a combinated online/hardware wallet? Or a separate offline wallet? Ledger nano is not independent to work, so you must be set up on a computer you trust 100%, i would consider as a combination of hot and cold wallet. Not necessary true on Ledger Nano. I suggest in my hands for all to get the starter option that use it. It is a live usb linux that is a secure OS you run off usb. It is 100 percent offline and does not store seeds. You have to write them down from it. So say computer is compromised by using starter option your still safe. Here is my hands on with Ledger Nano: https://bitcointalk.org/index.php?topic=1305888.0 |
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In my eyes the negative feedback need to removed by a admin. But he have to take his hands of that topic and don't manage anything anymore for ore-mine so far they not back online anymore.
They can't remove the negative, this is something they have stayed away from moderating. It opens a huge can of worms if they start deleting feedback when requested. yahoo can explain his side and ask people to remove. But in no way do I expect forum to remove negatives. For better or for worse. |
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I also think, that USB 3.0 is faster, I do not see any other reason  It is not faster for mining, there is not all that much data being sent forth and back to the miner. Having a higher data bandwidth does not make the ASIC mine any faster. It is true the speed of miner will not make a difference usb 2 is fast enough without issue. Only difference on paper is usb 3 has more power aviable so could allow more power for a stick. But with all the mod's people show on board that is not always true. We have seen many usb 2 hubs people mod to add more power. |
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