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When the next halving occurs the sky will turn dark, fire will fall from the clouds, the earth will shake, and floods will ravage the surface of the Earth. Yes, it will be the end of days.
Or some large farms will shut off some of their gear and resell it to "the little guys", and we'll hopefully start to see a shift of mining occurring in large scale commercial facilities back to home miners.
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funny thing is that all this taking into account that he have free electricity
one s5 cost about 1.5 bitcoin(best price so probably more), this mean you need 225+(250-300 if we count the diff) days to roi(with free electricity)...sound ridiculous
Don't forget the cost of a psu, he'll need one to run his S5. |
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Great thread, just what I was looking for. Marking it to save to read for later, have my first S3+ showing up soon. Thanks.
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Why even make a thread?
Most useless thread ever.
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No. Bitcoin was never intended to end poverty. I dislike articles as this one.
The powers that can end poverty, aren't doing so. That's the problem. Don't expect Satoshi to be the savior of this world.
This exactly. A new form of currency is not going to solve the world's problems when the people with the power to make change can't or won't exercise that power. |
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Had this happen 3 or 4 times since last posting, tried a few things on my own and nothing seemed to stop the random crash. I've just now set the cache to 50 megs, will report if that makes an improvement.
mmh i can only think of something wrong with your os installation, or maybe your cpu is at 100% when you run the client? , it happens during the day when I am away at work. I chalk it up to my old computers, if I get motivated enough I'll try the Linux partition, or I may just do nothing until I eventually build a new computer. I assume the reduction to 50 MB cache did not help. Could this be an issue related to some sort of sleep or stand by mode that is enabled after some time? Is there any setting in WinXP or the BIOS enabled that could result in a some sort of sleep that could cause issues with bitcoin core? Nope, the 50MB setting didn't change anything. I tried 150MB, too, just in case, but no luck. My comp does not have any sleep or stand-by mode or anything, it's been on 24/7 for the last 8 years or something. I'm sure it's just gremlins with my box, I've given up trying to figure it out. |
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-----------
when the halving comes around a couple of things might happen. Like having btc jump so miners are still useful, btc difficulty drop so that it would be profitable to mine, or many other possibilities.
At first halving there was another expectation ASIC race. First halving happened then price didnt changed too much. After first ASICs came to market , then BTC market price gone crazy from $ 10 to $ 250 (was peak at btce). But I agree with you. At the next halving there are lots of possibilities. And its really hard to wait enourmous hash increase due to mining saturation and technology limitations. Btw, I guessed difficulty just too high. I didnt think mining operators made such tricky things. The next halving will be very interesting because there will not be an exponential growth in the mining gear technology like there was for the first halving. Personally, I hope btc value stays about the same and the difficulty drops by 60%. |
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Yes there is a very nicely detailed explanation of shifts earlier in this thread. To simplify it for you a shift is a less granular look at your contributed hash rate than tracking every submitted share. Makes it easier on the pool to track shifts instead of shares.
Renting for profit is tough to pull off. Phil got lucky. He got hashing power at a very nice rate and the pool found more blocks than expected. You can also get burned playing this game. For example, a few months ago I rented a large amount of hash. Unfortunately the pool on which I was mining suffered some horrific luck and I lost a lot of coin.
the above is true. lets say going rate is 0.0105 a th and you get 0.0102 a th you rent 100th which is 1.02btc which is .03 under the going rate. to do this alone is very hard and it just means you rented at a discount. You pick a pool and hash and the pool sucks make hardly any blocks = you get fucked and lose. even though you paid a good rate. In this case I paid a very good rate and the pool whaled = the best of both worlds. Kano's pool is the best ppns pool to do this because the 500% gives more days of hashing having earnings which tend to flatten the risk out a bit. here is what is left of my earning power. I ended on a high rental this keeps the avg up I was 100-100-100-100-10-10-10-10-10-10-10-10-10-80 more 10's-200 I am left with some of the 10 rentals and the 200 at the end my avg is down to 4.84th 4.84/1800 = 0.00268889 0.00268889 x 25 = 0.067 btc if we hit a block and that will decline. the key to renting get a good price. High---low---high. I did 100 then 10 then 200 Thank you both. I understand that you have to get a good rate and still have to hope your pool finds blocks during the rental, but renting it the only way I'll ever see multiple TH at my disposal. That is, until I can convince the wife to let me build a mine in the backyard... |
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I have an Antiminer U3 that just stopped hashing last week after only 3 weeks of operation, might be perfect for your project (it's <50gh at factory volt/freq). When you plug in power the fan fires up, when you plug in the USB the USB power led comes on, when you start CGminer the mining led flashed on a few times, but then stays dark. The mining LED should come on and stay on, but it doesn't and cgminer never even recognizes that a device has been plugged in (but it will give an error when you unplug it, which I find strange).
I was going to send it to Bitmain to see if they could repair it, but I'd rather give an independent guy a shot at it. Let me know what you think, I could sell it to you as is and then buy it back from you if you're able to fix it.
If you want to ship this item to me I will pay the return shipping once it is fixed - if I can't fix it then I'll buy it from you. Let me know if that sounds reasonable. I wasn't originally looking at a repair service but it's a fun idea. Sounds good to me, pm me your shipping address and I'll drop it in the mail.  |
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FFS!  For all reading the thread that haven't joined the fun, just dip a toe. lol No joke, I pointed a machine back here March 25 just in time to catch this wave; the payouts keep rolling in! |
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Trust no-one ... use P2Pool. Easy. Wow, thank you for bringing P2Pool to my attention. I'd never heard of it before, but it's an ingenious idea. What do you mean: Just remember to setup a good p2pool mining setup as good as the best ones on p2pool.
Otherwise the other miners on p2pool with a better setup are taking some of your BTC ... ? ... and to add more explanation  A share on the p2pool share chain is pretty much the same as a block on the Bitcoin block chain. You don't send out a p2pool share and get it every time. If 2 p2pool shares are sent out, built off the same previous p2pool share, one of them will not be paid. Add on top of that, the p2pool share chain averages a new share every ~30s instead of ~600s like the block chain, so network connectivity and latency has 20x the effect. For the Bitcoin block chain, to get the least block orphans, a pool (or solo) must ensure it is well connected, has low block distribution latency to the rest of the bitcoin network, is able to process incoming shares quickly, and, of course, the pool itself isn't struggling to get enough CPU for bitcoind Thus on p2pool the same issue exists with p2pool share chain shares. The p2pool nodes with the same attributes above will lose fewer shares. When you notice that something like 10% of p2pool shares are DOA/Stale you need to realise that is only the average. So if someone is consistently getting 5% DOA/Stale due to having a good setup, that means 95% of their work is being paid instead of only 90% like the p2pool average. i.e. they get a better share of each block for the work they submit. Every new share on the p2pool share chain means you need your p2pool to know about it as quickly as possible and switch your miners to the new work based on the latest successful share in the share chain. Any delays with those ~30s p2pool share chain updates and that delay represents how much time of the ~30s average you are hashing work that wont be paid. Using a remote p2pool, of course, exacerbates the latency issue due to the ~30s average. Using a miner that takes time to switch work also makes that a problem since it is all about what % of ~30s you are working on the latest p2pool share chain share. ...
Also ensure that your miners are submitting stale shares. The standard firmware on Ants for example discards them... Even though they may be valid solutions for a block.
~95% of DOA/Stale shares on p2pool that are also blocks, are valid bitcoin blocks. And this is why I mine in Kano's pool, the fact that he took the time to explain how another pool functions (not because of how p2pool operates). You have to trust the people who run the pool, otherwise you could be short changing yourself. |
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Methane and Water Vapor are way, way, way more effective greenhouse gasses than CO2, but for whatever reaon CO2 gets all the bad press. Meanwhile, the world's forests grows as measure by sattelite far outpace the predictions of the past century due to increased CO2 in the atmosphere. http://www.co2science.org/subject/f/summaries/forests.phpThere's a lot more to atmospheric science than what 99% of the public understand and what is reported on main stream media outlets. |
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I have an Antiminer U3 that just stopped hashing last week after only 3 weeks of operation, might be perfect for your project (it's <50gh at factory volt/freq). When you plug in power the fan fires up, when you plug in the USB the USB power led comes on, when you start CGminer the mining led flashed on a few times, but then stays dark. The mining LED should come on and stay on, but it doesn't and cgminer never even recognizes that a device has been plugged in (but it will give an error when you unplug it, which I find strange).
I was going to send it to Bitmain to see if they could repair it, but I'd rather give an independent guy a shot at it. Let me know what you think, I could sell it to you as is and then buy it back from you if you're able to fix it.
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Holy shit, that's a lot of btc. I wonder where it's going/gone, and why?  |
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Okay I rented for 100 shifts of hash
5 at 100th
94 at 10th
1 at 200th
I paid in .572712 btc
________________________________
waiting for 1-------------maybe some of the early 100th rental will be missing.
0.10848541------------
0.10878417------------
0.10948921------------ All of these caught my early 100th rental fully along with the ending 200th rental
0.10886129------------
0.10901577------------
0.07543100------------
0.06897737------------
0.03443683------------
0.03192053------------ all of these are lower due to ramping up.
0.753xxxxx paid so far.
Thank You Biffa!
Is there a primer I can read (probably a post in this very thread somewhere) that lays out what shifts are and the details of their use and all that? It looks like you need a good understanding of how that all works to make renting hash worth it. I just hobby mine, solo and a S1 pointed here, but renting-for-profit looks appealing to me. I understand that my S1 runs at a loss but I don't care, I look at it like paying an exorbitant exchange rate for the btc I am mining; it's more fun for me to "make btc out of nothing" than to simply purchase it. |
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My first S3+ should arrive any day, looking forward to it, woo! I plan to factory reset it and flash with the latest firmware straight away, like I did with my S1.
As a hobby miner I love that I can pick up the older tech for a mere fraction of what it retailed new for. Can't wait for the next gen to come out so that the used S5 price drops by 80%.
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Everyone who has PM'd me thus far with their info has been added. We still have 5 slots remaining. Let's try to get some new blood in this thing Well, I said I'd stay out of round two to give others a shot, but since it's been open for a couple days and not full yet I would like to rejoin for round 2. I sent you a PM, and never stopped following your accounts from 1st campaign. Must.....earn..... BTC |
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Also, the inefficiency adds an intrinsic value to bitcoin - the cost to mine it. Although the current value far surpasses this cost, it was this cost of inefficiency that gave bitcoin it's initial "value", and it is this cost that will ensure that bitcoin always has a value.
Now, this (bold) is dead wrong. (Assuming that you speak of a value > 0) Well, the argument and counter point you put together are air tight, thanks for the contribution. You reply is a good example of 0 value.  |
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As has been pointed out, yes, it is a benefit to the network to leave your node up and running all the time. You can register your node with a btc address and participate in bitnodes incentive program ( https://bitcointalk.org/index.php?topic=952996.0), but there's no real way you benefit from running it other than knowing you're helping the network. |
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You don't get it. Bitcoin mining is supposed to be inefficient. There in lies the very core of its trustworthiness. See Andreas Antonopoulos explain this very clearly in a few minutes. This. For some reason people can't get their heads around the fact the difficulty levels are good and it's what makes the network bulletproof. I would rather trust POW than POS distribution.. Also, the inefficiency adds an intrinsic value to bitcoin - the cost to mine it. Although the current value far surpasses this cost, it was this cost of inefficiency that gave bitcoin it's initial "value", and it is this cost that will ensure that bitcoin always has a value. |
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