J'ai travaille en Montreal deux ans... it gets to -12 quite often in the winter  |
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For unregistered solo mines, once they get one orphan, blockchain starts tagging them falsely as double spenders. It's a silly false positive that seems to never go away.
I have an address tagged like that. It happened doing p2p mining. I found it so annoying that I no longer mine in p2p pools. This is the address. https://blockchain.info/address/1Fo2K52Rz7LZw9fcF5BDdDBjfNaViQ8J3xand as far as I understand I can't get that tag removed. That happens every time a p2pool block is orphaned. It's nothing more than a false positive because the generation transaction actually happens, but is overwritten when the longer blockchain replaces the one where p2pool found the block. |
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Edited, Thank you jonnybravo0311
No problem... didn't want people to misquote you later and say how high the fees are. |
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2. 0.08/MH ( Altcoin - Zen, Prime, Clever, Multi, Waffle Hashlets ) , 0.01/GH ( Genesis Hashlet )
It's $0.01 / 5GH/s per day for the Genesis... so $2.00 per day per 1TH/s. |
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You really think OP's interest was purely academical?
Honestly? It's highly unlikely; however, I stuck to the questions he actually asked. If he wants to know about profitability models and whether or not cloud mining makes sense, he can post those questions in the Speculation forum - or better yet actually read the many posts that answer that very same question already present there. Like I wrote in my reply to you, I've made it clear in my posts in the Speculation forum that I believe cloud mining makes the provider money, not the consumer . |
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[...] say $2000 for 12 months at 2TH/s. [...] Since the days of GLBSE, this is called a mining bond or turd. With ever rising difficulty you won't make profit. So, you have to bet on the BTC exchange rate. With this model and if you think BTC will rise, you'd be better off getting BTCs directly. [...] In the second model, you purchase some amount of hashing power that mines for you (say 2TH/s at 0.001135BTC per GH/s), but you are charged daily/monthly maintenance fees. [...]
ckolivas' and my earlier post relate to that. Bottom line: If you can mine below the fees (and hidden fees) of the operators of those sites (and you have to trust them), mine yourself, you'll be better off. If you take a look at the replies I've made in the linked post, you'll see I'm very much in agreement that the only people who profit from cloud mining are the cloud mining providers. I've also posted the same in multiple other threads. I didn't bother posting my opinions here because the OP asked how cloud mining works, not whether or not it was a worthwhile venture. |
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Althought worthless, since the server is on its mining with its 2 CPUs and CPU miner.
In the first days using the pool I saw it was hashing but did not get a YAYs thats common with
cpu miner when in other pools.
So today it started also making some YAYs actually running for less than an hour and have already 3
when other days not even one.
How does this translated???
LOL+Hi Hi
Wishfull thinking 3 blocks in a row!!!
LOL+Hi Hi
LOL... no, you didn't find 3 blocks, you got 3 accepted shares. ckpool uses variable difficulty that starts at 1024 and adjusts according to the hash rate of your miners. Since you're CPU mining (dear lord in heaven what are you thinking???), it just happened to take that long to find a difficulty 1024 share. Today you got lucky and found a share at least 1024 difficulty, so likely the pool has now adjusted the difficulty to match your abysmal hashing speed from the CPU. Seriously... what are you thinking? Do you just not like your server, or are you doing some kind of extended CPU burn in testing? Nothing good can come of CPU mining BTC. Of course, now that I've written this, that CPU will probably be the next block finder on the pool...  |
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There is a great post by DrG regarding cloud mining here: https://bitcointalk.org/index.php?topic=739510.0. Take a look at it. You'll find some good debate there. As for how cloud mining works, there are pretty much two models: the up front contract and the hashing power with maintenance fees. In the first model, you pay a fixed amount up front for some level of hashing power - say $2000 for 12 months at 2TH/s. In the second model, you purchase some amount of hashing power that mines for you (say 2TH/s at 0.001135 BTC per GH/s), but you are charged daily/monthly maintenance fees. An example of the first model is MegaMine. An example of the second is HashNest. |
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I must say, I am impressed with jonnybravo0311 detailed reply. Thank you very much.
Also a thanks to the other replies, it was much better than the first one.
A follow up question: Based on the info here, I have decided to go with GAW. Only thing is, I am not sure what Hashlets would be the best investment.
Any advice?
I agree with Unacceptable's advice here to go with the Zen. The Primes are way over-priced for the "extras" they offer. The Genesis (SHA-256) Primes are not terrible, but payout-wise are edged by the Zens. |
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How would that setup roll to Nice/West? Unless solo pool goes down, the S3 wouldn't even consider Nice/West. Don't get me wrong, I commend you on throwing an S3 at solo mining in hopes of hitting the big payday, but I don't think it would ever bother going to your second or third choice pools.
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I have several fine quality first born children who are negotiable, as well!
Pure awesome. |
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Well, let's compare apples to apples.
GAW charges $8.95 (current conversion of $340 per BTC makes this 0.0263BTC) for a 10GH/s Genesis Hashlet.
CEX.io charges 0.00266BTC per GH/s, so the same 10GH/s will cost you 0.0266BTC.
Advantage GAW (at current rates). CEX.io could take the advantage if the conversion rates go down or price per GH/s goes down.
GAW has a $0.01 per 5GH/s per day maintenance fee, so $0.02 per day for our 10GH/s.
CEX.io has a $0.105 per GH/s per month fee, so $0.03 per day for the 10GH/s.
Advantage GAW.
GAW allows you to switch pools with your Genesis (between BTCGuild, NiceHash and MultiPool).
CEX.io mines on GHash.io.
Advantage GAW.
GAW will buy back your Genesis for 80% of what you paid.
CEX.io allows you to sell any or all of your GH/s at current market price.
Advantage CEX.io unless the price of GH/s drops over 20% from when you purchased it, then advantage back to GAW.
GAW gives you HashPoints, which can be used towards Hashlet purchases, or to use add-on features (not currently available for Genesis, only for Primes). Further, GAW allows you to setup an auto-purchase that gives you 5% off purchases.
CEX.io has nothing of the sort.
Advantage GAW.
Because of the different pools and different rates each of those pools pays, GAW requires you to constantly monitor your Genesis to ensure you've got the best pool chosen.
CEX.io only has a single pool, so no need to babysit it.
Advantage CEX.io
GAW offers multiple different kinds of Hashlets, corresponding to different pools (ZenPool, MultiPool, WafflePool, etc) and each of those Hashlets is offered at a different price point. Further, the Prime allows you to switch between any of the aforementioned pools.
CEX.io only offers BTC cloud mining.
Advantage GAW
GAW makes all payouts to your account in BTC regardless of which Hashlet your choose.
CEX.io only allows BTC cloud mining, so all payouts are BTC.
Tie
GAW has a marketplace where you can buy/sell Hashlets.
CEX.io has a marketplace where you can buy/sell GH/s.
Tie
GAW does not have an exchange.
CEX.io has an exchange, so you can trade your DRK, LTC, DOGE, whatever.
Advantage CEX.io
I'll let the OP draw his own conclusions from the above comparison between the two.
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Definitely do NOT go with that eBay sale. You will get zero protection from them if you arrange payment terms other than what they accept (PayPal, etc).
Look to see if there are any EU group buys in the forums or any EU private sales in the marketplace forum.
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Phil, you in AC playing craps to come up with that analogy? |
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You ALL seem to be missing the point. I realize that it was my fault for clicking "YES", but there is no reason that I shouldn't have been able to remove them instantly, which the portal would not let me.
Very likely because somebody purchased them immediately. The portal wouldn't let you because they were no longer yours to remove from the market. |
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So about 20 minutes ago, I was splitting up some of my Zen Hashlets to sell.
I had a total of 73 MH/s of zen hashlets, and I split them 70 MH, 1 MH, 1 MH, 1 MH.
I never intended to sell the 70 MH. Somehow, I accidentally clicked on the 70 MH hashlet on accident and typed in the price of what I would sell the 1 MH Zen hashlet for (thinking I was selling my 3rd and last 1 MH zen hashlet).
I IMMEDIATELY realized what I had done and within a split second clicked "Remove miner from sale", but I kept getting error messages saying that I could not remove the miner for sale. A few minutes later, the 70 MH Zen Hashlet sold for $18.90, so I effectively spent ~$1400 on Zen Hashlets only to have them sold for a total of $18.90. I instantly called GAWMiners.com, explained the situation, and asked if they could reverse the transaction. Their response was that there was "nothing they could do about it" and that all of their supervisors are busy at a conference in Vegas. I asked to speak to ANYONE in their office who was a supervisor and apparently this one phone technician was the only person working (according to her).
This is a fucked up situation. I gave my contact information to the tech-support woman I spoke with and she said that she would send an email to "Eric" who is at the conference in Vegas relaying my situation and contact information. Now I get to sit here and wait knowing that these so called "Geniuses at Work" just fucked me out of approximately $1,380.00.
I thought this company was legit, they seemed like they were willing to go the extra mile for the customer, but they have proven to me in this instance that they don't give two SHITS about their customers. Obviously, no one is going to sell 70 MH of zen hashlets for $18.90, and they should recognize that it was a simple human error and reverse the transaction, I made sure to call them the second it happened so that they could take care of it A.S.A.P., but instead they basically told me to "fuck off".
Do not do business with these people!
If they do contact me and fix this mess I will update this thread, but until then, I think this thread should serve as a cautionary tale for anyone who plans on doing business with GAWMiners.com
Ummm.... GAW didn't fuck you out of $1380 - you did that yourself. |
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thank you for all the precious information and learning that some are whoring for btc lol BTCBTCBTCwhy are every miner I ask questions asking me if I want to make profit or just have fun and learn , of course I want to make profit I started this because I want to know what is the best you suggest for mining beginners and today I will add another question : where do you suggest to buy and what is the best mining hardware to buy today(top rated best quality as of today) ? and where is the best place to mine and make good profits at lower fee's ? thanks again for the replies... People are asking you these questions because they want to know your position. Most everyone here will tell you that unless you're a hardware manufacturer with access to large quantities of very cheap power, you won't turn a profit by mining. When you started this thread, you asked where to purchase good, quality hardware. I suggested you take a look at some of the manufacturer's guides to help you make an informed decision. Basically my suggestion was to educate yourself. Spend some time reading the forums and you'll learn the answers to your questions as you're certainly not the first person to ask these things. |
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it seems an average of 5% increase, and i cant understand, how difficulty is still increasing with these btc prices.
Because people are still adding hash to the network. Those with cheap electricity and cheap hardware still turn a profit even at the decreased price of BTC. |
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Can we make an estimation of the price of hardware 1 THS production cost to the manufacturer?
I mean how much BTC costs to the manufacturer for 1 THS, i am assuming it is below 2 BTC / THS , for about 700$ per THS.
Since FriedCat sells the Prisma for 1.47 BTC (it's a 1.4 - 1.5 TH/s miner), I think you can very safely assume the production costs are considerably less than 2 BTC / TH/s. |
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That's a pretty interesting calculator... at least they attempt to handle the flaws of other calculators by including parameters for non-static difficulty jumps and BTC prices. Definitely not a perfect model, but better than most. |
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