Thanks for the comments. Annual return certainly makes some assumptions. But the calculation is 1.4429 ^ (365/7) -1 (also displayed in Meni's thread). Also note GIGAMINING last traded at 1.399 -- $1 was a great price and the reason I bought some 1 BTC per 5 m/hash is an acceptable price. 1.399 BTC is not (though apparently that's subjective). I believe someone also bought 1 share at $10, but I wouldn't expect you to price it as such. I made my calculation like this: 30 BTC for 100 m/hash = ~ $145 at 29.6 cents per day gives... 145/.296 = 489.86 days. I would assume that you'd be making around 50% profit from this (i.e. half of the money collected from issued bonds is profit for you). That's just a very large profit margin. Why do you do the calculation in USD? The purchase is made in bitcoins and the payout is in bitcoins. Why would you not just keep it in bitcoins? Oh, I don't know. What do you buy Bitcoins with, wampum?
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That is asinine.
A 1 MH/s bond should pay out 1 MH/s not 0.75 MH/s. If you can cover your costs for 0.2 BTC per 1 MH/s then .... I don't know RAISE your price.
A 1 MH/s bond (which is really 0.75 MH/s) @ 0.2 BTC is the same thing as a REAL 1 MH/s bond @ 0.267 BTC.
+1 I'd be interested in 0.2 BTC per 1 MH/s. I would not be interested in 0.2 BTC per .75 MH/s. Gigamining had it right with the issuance of 1 BTC per 5 MH/s. That's about as steep as I'd ever be willing to go. Otherwise it's a pretty lousy investment (not for you, of course). Sometimes I really think that people are convincing themselves so desperately that they're making money when they clearly are tossing it out the window. But instead, they think to themselves, "Wow! That was a mighty toss!"
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We need exchanges with INSURANCE INSURANCE INSURANCE INSURANCE INSURANCE.
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Worth it?
Depends on electrical cost and the efficiency of your rig. If you pay a high electrical cost, FPGAs are likely the way to go for now. If your electrical cost is very low, GPU-rigs are still good because, relative to FPGAs, they give you more bang for your buck, at least right now. Keep in mind, mining Bitcoins is like buying them indirectly instead of buying them directly, except that you hedge your investment in the form of your hardware. With an efficient rig, you will pay off your hardware in less than a year and then anything after that is profit, PLUS you still have the value of the hardware itself. All things to consider. My advice would be to look for common trends -- a lot of very smart people are throwing down insane amounts of money on Bitcoin rigs ($100,000+ in some cases). The new trend right now is the FPGA-based rig as well as the BFL singles and mini-rigs. If you have the money, nothing beats a mini-rig right now.
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Thanks for the comments. Annual return certainly makes some assumptions. But the calculation is 1.4429 ^ (365/7) -1 (also displayed in Meni's thread). Also note GIGAMINING last traded at 1.399 -- 1 BTC was a great price and the reason I bought some Based on last traded prices (7:50 CST) paybacks are as follows: Puremining: 663 days BitBond: 462 days Gigamining: 452 days YABMC: 485 days Again - I feel this is a competitive price! It's a competitive price based upon traded prices, but not competitive for issued price. Gigamining owns for issued price (not sure what the issued price was for Bitbond and Puremining). I apologize, I'm really not trying to be a dick I just can't see how this is advantageous to the buyer.
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Thanks for the comments. Annual return certainly makes some assumptions. But the calculation is 1.4429 ^ (365/7) -1 (also displayed in Meni's thread). Also note GIGAMINING last traded at 1.399 -- $1 was a great price and the reason I bought some 1 BTC per 5 m/hash is an acceptable price. 1.399 BTC is not (though apparently that's subjective). I believe someone also bought 1 share at $10, but I wouldn't expect you to price it as such. I made my calculation like this: 30 BTC for 100 m/hash = ~ $145 at 29.6 cents per day gives... 145/.296 = 489.86 days. I would assume that you'd be making around 50% profit from this (i.e. half of the money collected from issued bonds is profit for you). That's just a very large profit margin.
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Good luck, but seems very pricey.
Gigamining offers 5 m/hash per 1 BTC
1 m/hash per .3 BTC = 3.33 m/hash per 1 BTC
30 BTC gets me 100 m/hash...that's around $145 per 100 m/hash.
At current difficulty and price, this gives me $0.296 daily per 100 m/hash.
At this rate, you're looking at 489.86 days to break even and begin making a profit. Not sure where you're getting 111% annual return.
I'll readily pass. But good luck.
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Just got a message from Coinabul. Looks like it's just some basic maintenance and that everything is fine Awesome. Locking thread now.
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Seems to be down also from here. :-(
Ok, thanks! The only reason I'm slightly concerned is because I made a purchase about March 23 (maybe March 16)? In either case, it's been a few weeks. The site was up yesterday. I've heard only good things about Coinabul in the past so I'm hoping this is only temporary.
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you cant write something in a block, without changing it.
please stop asking questions that shows that you know nothing about how stuff work. go read some more and find out why you are failing.
-1 Way to go, O' Superior One.
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Any chance we can get one of these for Litecoin?
Litecoin would be the perfect token throwaway for this game.
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... and what is it?
Ponzi games. Used to play it a lot back in the day. Oh I missed these
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Hey OP, if I win, I'll give you back $250 of it.
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Today's the 4th, and Bitcoin 100 is right on track in reaching its goal of gaining 30 new members for April. Currently, for the month of April, we gained 0 new members. At this point, I wish to now thank each new member, individually. Now that that's out of the way, I've revised today's pledge drive upward to four, oppose to two of which I mentioned yesterday. If today proves to be as successful as yesterday, tomorrow's pledge drive will increase to obtaining five new members.
lol
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Im new to bitcoin. I know the market fell last year but will the value of bitcoins start to rise again? And will bitcoins ever run out?
Welcome
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I'll sell you one for 115 of your gigamining shares Because I plan on buying shares from you anyway, and because I'm pulling 460 m/mash with it, and because you will be taking about 30% profit off the top of the shares I buy, I figure I'd take 30% profit in shares by selling to you (not quite 30%, which would be 119.6 shares).
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Prayer means meditation.
And yes, I did, though it came about unexpectedly.
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was this arranged or played? just wondering I wrote and played all parts.
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