I have reduced the price quite a bit now, as I would like a quick sale. I've had lot's of interest but no takers yet.
Also free P&P to UK. If within EU, then might be quite cheap, so message me and I can tell you.

Item is for sale on ebay: http://www.ebay.co.uk/itm/NEW-256MHs-Asic-Scrypt-Miner-MAT-5-Excalibur-/191495521491?ssPageName=STRK:MESE:IT

Cheers
mrpetem

Hi Quakefiend420. So I ran the test for about 30 mins. It hovered between 196-221MHs.

Cheers,
mrpetem

Sure, I will need to do this in the evening when I return home. Will update you once has been completed.

Hi quakefiend420,

Yes it is rated around 250MHs but on a good pool and a well ventilated room it performs better. In another pool it was doing around 180MHs, but I just switched to a better one.
 
These units claim to be the most efficient per MHs and are rated at 2200w. The other miner I have running for myself is hooked up to it's own electric meter and is proving profitable for ltc and doge. So you may wonder why I would sell the other one, but the whole reason I bought two was because I got a good deal for them together from the supplier, so I got the cost down per unit. It was always my intention to sell one of them on.

Hope this helps.

* TEST RUN STATS *

Have just been approved to sell this item on Ebay now. Follow the link below if interested:

http://www.ebay.co.uk/itm/NEW-256Mhs-Asic-Scrypt-Miner-MAT-5-Excalibur-/191495521491?

As promised..

Hi Rammy2k2,

I will post a pic up tomorrow. Not sure about escrow, as I have never used them before. However will look into it and may be possible.

Thanks

Hi Nterpaces,

I am from the UK. Not too sure on the shipping myself, but can look to work something out.

Cheers.

* Update: Item is now live on Ebay listed here

Hi all.

I purchased two brand new MAT 5 Excalibur 256Mhs miners and looking to sell one of them. I got a good deal for both, but only really want to run one of them.

I will be listing this on Ebay in a couple of days time, just waiting to be an approved seller. However I don't mind using a trustworthy Escrow service.

Item will be well packaged and an instruction manual will be provided. Unit has been fully tested to be working.

These units are exactly the same as the alchemist 256Mhs units listed here, that are selling for $3,099 each.

PM me if interested and I will send you a link to the Ebay listing. Will be looking for around £1,400 / $2,098 + postage. I will cover costs for Escrow.

Any questions feel free to ask.

In fact even if you do consider miners to be speculators, speculators also affect supply. Just like they affect demand.

Let me ask you then what is the difference between nobody mining and miners holding onto their bitcoins? To say miners do not affect supply simply because you wish to catagorize them differently does not make it logical.

 Maybe I should simplify this basic principle of how markets opporate for you:

I grow and sell apples. Today I decided not to go to the town market to sell my apples. So the other apple seller at the market had more buyers than usual, so he took advantage and increased the price of his apples. I still have my apples but did not take them to the market which increased the value of them at the market. BECAUSE THERE WAS A LACK OF SUPPLY.

 Now just because I decided to hold onto my apples, suddenly I become a 'speculator' and so I do not affect the market now... totally illogical you must realise..

Yes, bitcoins are missing an essential part of demand, that is its purpose or use. I have said before that the only value it offers is pure speculation at the moment (i think everyone realises this), bar just a handfull of sites accepting it as payment. When you consider the amount of supply being generated and the lack of demand I think we can support an arguement for price continuing to decline. But I dont believe it will be the end of it. It may take price to reach $5 before strong demand comes in, when it does it can perpetuate itself and develope into more demand, plus the fact of a declining price pushing miners 'out of business' or lack of new miners taking part or miners simply holding onto their bitcoins. This will reduce supply.

 Much more ups and downs to come I think. But a turnaround price would be good to know so you can invest at the right time.

Interesting Vandrioy, I will have to read your comment again when I have more time.

Shuffle, when you say nothing affects the supply its always 300 btc/h, do you not consider that miners will not actually release the bitcoins if price is not attractive enough for them? For example say it is costing $5 per bitcoin for the miners, and they want to clear $10 profit but price is at $10 dont uo think they will wait til it reaches $15 before selling. Therefor supply will be limited...

 When I said what affects miners, I meant what affects the cost of running their mining opperation.

Here are some good questions:

What is the current average cost to generate 1 bitcoin?
What is the average ROI miners look for?
What avg time do miners look to recover start up costs?
What will the cost to generate a bitcoin be over that period?

Ultimatly what this boils down to is trying to find:

What affects the price = Supply and Demand
What affects Supply = Miners
What affects Demand = Speculators
What affects Miners = Running costs
What affects Speculators = ....

If you can find these answers you will have a better idea of where price is heading.

Well, the whole point of this is to determine where the future price will be at. You can just take a stab in the dark and go on what you just 'think' will happen or you can try to use some quantafiable method of determining where price is likely to go. But thanks for your belittling response.

Good point, but would there be a significant number of these participents? If there is then perhaps another catagory is required. I think perhaps just look at participants that would have significant effect on the market.

I wanted to open up some discussion on determining the true value of a bitcoin. Rather than just taking a stab in the dark guess at what we want or think it should be, I propose we try to justify a true value. Of course this will be changing as time goes on.

I will kick it off and try to show methods to find a value, please jump in and tell me what I am missing or should include...
My thinking and assumptions are based on limited experience with the bitcoin market, and I dont have the time or wish to study it in-depth at the moment...


Ok first we need to know who the market participators are:

As far as I can tell we have:

• Miners
• Day Traders
• Investors
• Manipulators (mtgox, bitcoin owners)
• Illegitamate traders (money launderers, drug dealers)

Now we should try to see what price each participator wants from bitcoin.

The miners (significant) have invested a lot of up-front money to buy equipment. They are also paying running costs and will have some down time. So we need to find the current average cost to generate 1 bitcoin. (I am hoping some more informed members can jump in and help with some figures).
Then lets say that because of the uncertainty of bitcoin atm, miners are probably looking to pay off their original outlay in say 2 months.
Then we should take into consideration future difficulty increases withing this 2 month period and the affect this will have on the cost of generating a single bitcoin.
Put all this together and this will give us a base figure for what they would need bitcoin to sell at in usd.

Now miners will have a considerable affect on the price, since if the current price is less than this base figure, they will most likely not sell and hold onto their bitcoins. This will push price higher as there is reduced supply. So if we can get as accurate as possible on the miners than we can have some idea of where price is heading.

This process need to be done for each participator to give even more bias towards a direction and price.

I will come back to this if there is some interest in what I am trying to do here, but hopefully it has given a platform to take this further.

here was something I mentioned at another thread, however it seems to have played out much earlier than anticipated:

The thread is: http://forum.bitcoin.org/index.php?topic=14657.msg209183#msg209183
Comment made on: June 12, 2011, 07:26:02 pm