Nah, it doesn't worth a bit. Every cloud mining company will be collapsed before you get your ROI.
Stay away from life-time contracts especially. It is a lie.
I do not hold hashing power longer than 3-4 months. Any S7 hash I buy on Hashnest will be sold at a profit long before the block halving next summer. Talking about trading, not holding GH/s long term. You are right about life time contracts, they are designed to benefit the seller. Anyone who buys now at any other provider than Hashnest e.g. Genesis Mining will have their contracts cancelled after the block halving when fees are greater than profits. Another route that some take is to buy the newest and best hardware as soon as it hits the market. Many who took delivery of S7's this month will only mine for 4-6 months then sell on Ebay. |
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Looks like the $150 Bitnodes B1 is no longer available since 21.co took over, they are trying to sell you the $400 bitcoin computer instead.
That's kind of odd, they're not really competing products. 21.co sure thought so. |
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Looks like the $150 Bitnodes B1 is no longer available since 21.co took over, they are trying to sell you the $400 bitcoin computer instead.
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You can get the shipping down to reasonable cost/unit if you order at least 20 at a time. I thought of buying in bulk and selling at my website but changed my mind. Anticipated profit per unit was less than $10 at a reasonable selling price; not worth my time. When China holiday is over I may contact Bitmain to inquire about wholesale pricing.
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thanks for link to story tokeweed
very annoying but does need addressing
I have little faith in the core developers or foundation to agree zip these days
plus it takes them months, years to even code something small, then they make out their genius'
maybe this guy is doing us a favour in a way
but what if multiple people start doing it? what if he makes his 100 line code opensource
exchanges like cryptsy can't even get basic wallets for alts resynced in over a week. then shut down btc wallet for withdrawals due to this issue for days
shows how fragile things are right now
it would only take a few of these guys to affect price in a bad way, add block debate to conversation too
The core developers need assistance all on fronts, because they're short-staffed and not paid. I don't personally think it would be the end of the world for bitcoin to get hammered in price while we work out some bugs/growing-pains. Weak exchanges, pump-and-dumps and investors that don't belong in the cryptography industry will get theirs if this were the case. Scare away the bandits, feign disorder comrades. Core has had a fix for this already however, and most 3rd parties are failing to adopt. Take some time and read bitcoin-dev transcripts end of each day. Developers are quite aware of the problem and are already addressing it. amaclin had his 15 minutes time to move on. |
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stupid idea, impossible?...say what do you think
Goes against the tenets of bitcoin. You were right, stupid idea. |
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I purchased some hash at genesis a while ago because I liked the fact that they were one of the few sites that had proof of mining. Unfortunately, it seems that actually having miners makes things less profitable for all involved(the nerve). Hopefully they upgrade to some newer, more efficient hardware soon so I can buy from them again.
Buy from them again? Genesis Mining is a sieve designed to separate you from your money. The rule should be: never buy hashpower you cannot sell. The most power efficient consumer miner on the market now is Antminer's S7. Starting this weekend you can buy S7 GH/s on the Hashnest internal market. I would not jump in and buy as soon as trading starts, I expect price will come down after a few days. Plan on selling any S7 hash before the halving next July. I would be surprised if Bitmain does not have their next generation miner by then. |
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Earlier this year when bitcoin price was in an uptrend from $230 to $290 I was making 15% monthly trading contracts at Hashnest, so yes, there is money to be made there. I am looking forward to the S7 contract starting trading this weekend. I will outline my S7 trading strategy and blog results at my magazine.
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No, most of them are ponzi scams and think about it why would they sell hashrate and you be able to make a profit when they could mine themselves not make a website not pay for staff and make a profit?
That is a pretty sweeping statement. No one considers Hashnest a scam. If you cannot accommodate an Antminer S7 at home you will be able to buy hosted S7 GH/s this weekend, it will be interesting to see what the market considers fair value. |
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S7 is most power efficient miner consumer can buy, why it is more profitable than your example. It will be interesting to see what the hashing power trades for this weekend.
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A 4.66 TH/s Antminer S7 with power supply would cost app. $1750 without shipping and draw 1160 watts at the wall. You could expect to mine $290 of bitcoin the first month at current difficulty and price while spending $84 for electric at 10 cents per kWH. We will know this weekend what S7 hash will trade for at Hashnest so will be able to draw some conclusions about hosted mining then.
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Bitcoin developers are already planning to block the malleability attack with an update that will enforce lowS according to the chat in bitcoin-dev. |
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Could anything last 50 years? Media wise only.
50 years? haha...probably you will want to sell with the next crash or rise or whatever  plan for 5-10 years. you will do alot reevaluations in the next years. Exactly this! Why would you want to store your bitcoins for the next 50 years? Is the OP planning on not moving his coins for that long? I think that all you need to think about is at maximum next 10 years. By then, Bitcoin will either be dead or it will be huge. So you are either gonna sell them and make a huge profits, or you can just take your cold storage method and throw it into trash can all together. And anything will last you 10 years. Well said. I have never understood the appeal of paper wallets with all their disadvantages. Get a Trezor and store the 24 word seed in a safe place. |
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Still no payout. Too bad...
And no gesture of goodwill for the oldest customers. Not sure you will still go a long way GM. Customers who don't ROI won't reinvest.
You've signed a contract with a predetermined fee. It is not the fault of GM when the Bitcoin price too low, or the Difficulty is too high and the contract is no longer profitable. Even the new contracts with lower fees are a losing proposition. But I speculate on rising prices. Of course, this can also totally go wrong and my money is gone. The risk is always there. Seemingly still think people that here would be a magic money printing machine. But it's a high-risk investment. In a still experimental cryptographic currency. And if GM would everyone pay compensation, the company would be bankrupt within days. Why should they give away money? They are also a profit-oriented company. Right. And all current GM contracts will be underwater when block halving occurs next summer and fees > revenue at current bitcoin price range. Buying any bitcoin mining contract at GM right now is high risk. You are placing a bet that bitcoin price will double by next summer. The trouble with that type of bet is GM is the house and the house always wins. You need to look for hosted bitcoin mining with daily fees that are half of what GM charges if you want to give yourself any type of edge. |
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i read somewhere that somebody said its him doing the attack yet i cannot find this post.
so my questio nis - who did this attack and is it still running?
When malleability attack is running you will see this:  Attack ended 10/5 about 10:00 and is not ongoing right now. Why is the mempool increasing in size so quickly if the attack is now stopped? It's now 909.7 MB which is the largest size I've ever seen, not that I regularly keep a track of it. It's the largest size in the lat seven days according to tradeblock. Something must be causing it, and it's not unconfirmed transactions this time. I thought its size would reduce after the attack stopped.  Attack seems to be back on and seems to have been predicted by mempool increase:  |
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i read somewhere that somebody said its him doing the attack yet i cannot find this post.
so my questio nis - who did this attack and is it still running?
When malleability attack is running you will see this: Attack ended 10/5 about 10:00 and is not ongoing right now. |
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Never understood the appeal of bitcoin related vanity coins, I would rather put the money into another hardware wallet. But whatever blows your skirts up:)
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By the time you see anyone asking here if something will affect bitcoin price you can assume any effect is already priced in to the market.
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No different from the KYC requirements of Coinbase.
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myTrezor.com cannot gracefully handle the current transaction malleability attack and prevents spending bitcoin. I found that MultiBit HD was a good alternative until Trezor patches their web wallet. You always have the option under manage wallet to repair wallet in MultiBit HD.
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