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421  Alternate cryptocurrencies / Mining (Altcoins) / Re: Before you get HEAVILY invested in ETH Mining you should read this on: February 23, 2016, 07:10:14 AM
The good old boom and bust - it's been going on since 2011.  If you didn't already have cards up and mining by end of January it's probably too late.  Looking at eBay you can see the 7970s have already been cleared out.

I was lucky enough to sell my 6870/7870/7950/7970/280X for a pretty penny the last few months on Amazon and bought BTC when it was about 1/2 what it is now.

Unless you have insane $0.01 KWH China power I wouldn't start up a new GPU farm.  No harm in using any GPUs you have laying around but the 380 and 380X are essentially the same card as was released in 2012 just with more RAM and about 25% more energy efficient - but the price has held.

I'll keep my cash liquid to pick up some cheap GPUs in about 6 months Tongue

BTW, BTC difficulty 4 years ago was about 1/10,000th what it currently is at - 5 magnitudes difference - back when each measly 6870 of mine was making about 0.25BTC/day
422  Bitcoin / Bitcoin Discussion / Re: origin of bitcoin on: February 20, 2016, 05:25:44 AM
This reminds me of the guy selling the card that mined the last halving block (yes, it was before the time of ASIC).

Now somebody will be selling off their S3 or SP20 for that honor lol.
423  Bitcoin / Mining speculation / Re: Are we all going to power consumption hell? on: February 20, 2016, 05:22:42 AM
Semiconductors will be hitting an area of limited gains shortly and the same with mining technology.  It may not be worth to spend the 2 hours of labor swapping out a unit to put in a new unit for minimal energy savings and possibly new downtime.
424  Bitcoin / Mining speculation / Re: Why bitcoin hashrate significantly decreased since 13feb2016 on: February 20, 2016, 05:19:02 AM
chinese folks built a bunch of equipment and put it into service prior to going on new year vacation.  during vacation they took orders for a shit load of gear.  once they came back to work they unplugged the miners, packed them in boxes and shipped them to their customers.  you will see all of the hash come back within a week when customers receive their miners and put them into service.  you will also see a lot more hash from the newly assembled miners chinese turn on

Don't let the secret out of the bag.  Many still think they can make a fortune buying miners and putting them next to their blenders.
425  Bitcoin / Mining speculation / Re: Diff thread Feb 7 to Feb 19? picks are open. on: February 14, 2016, 06:32:39 AM
22.7

I see another batch hitting the "street" before this round is over and pushing it up a bit more.
426  Bitcoin / Mining speculation / Re: I am out of the mining game :( on: February 14, 2016, 06:23:16 AM
Shame man... I know its super hard to mine now. The difficulty has just gone ridiculously high the last few months, we are like on over 120 now

Mining is easier than it has ever been - we have machines built specifically to mine!

Making a profit is becoming unobtainable.

Which is why we shouldn't mine SHA anymore, but instead, move on along to something that makes more sense...

https://bitcointalk.org/index.php?topic=1323657.0;topicseen


MINE WITH HARD DRIVES. They don't have any of the issues that ASICs do. Just sayin'




Before you go postal on me, think about it long term and also the fact that it doesn't damage the drives. Okay are you relaxed? Now really try it. Good. Carry on.

BURST will always have the inherent issues that it can be overtaken easily with a 51% attack since it's not as disseminated. One of the reasons for the reasons for the race to ASIC was for security (which oddly now seems more threatening).
427  Bitcoin / Mining speculation / Re: How many bitcoins can you mine with a typical computer? on: February 14, 2016, 06:19:58 AM
You've been here a month and haven't bothered to read about dedicated miners?  Click on Mining, then Mining Hardware and read one of Dogie's threads Tongue

TO answer you Q, you get essentially nothing from a PC/Mac at present.
428  Bitcoin / Mining / Re: Do you mine in a pool or on your own? on: February 14, 2016, 06:17:05 AM
Do you prefer to mine in a pool or on your own?


It's actually a jacuzzi.

Seriously though most "people" as in individuals are mining in pools since they have almost no chance of solo mining effectively.  Those who are able to solo mine are typically big boys who make their own "pool" or even sell off hash.
429  Bitcoin / Mining / Re: what happednd if electricity has gone while Mining? on: February 14, 2016, 06:12:17 AM
good to have a ups....if there is a power cut then everything is gone!!


Everything what?  The conversation so far has been nonsensical.

UPS is fine for computing. It is impractical in most cases for dedicated miners.  Money would be better spent on relocating to a reliable & cheaper power source.
430  Bitcoin / Mining speculation / Re: I am out of the mining game :( on: February 13, 2016, 09:01:51 AM
Shame man... I know its super hard to mine now. The difficulty has just gone ridiculously high the last few months, we are like on over 120 now

Mining is easier than it has ever been - we have machines built specifically to mine!

Making a profit is becoming unobtainable.
431  Bitcoin / Mining / Re: The Evolution of Mining *from princeton bitcoin textbook* on: February 13, 2016, 08:51:16 AM
What it doesn't convey is that gold was never the largest mining operation at any time (there was always some other metal that was more important).

The bitcoin network is the largest network on Earth presently.
432  Bitcoin / Mining speculation / Re: WTH BTC Jumped 20.06%. Is this a fricking Trend? on: February 12, 2016, 09:01:58 AM
Reminds me of the days when the first Avalons came out and people with massive card farms like myself were getting pushed aside by people with a few ASICs  Cheesy
433  Bitcoin / Mining / Re: what happednd if electricity has gone while Mining? on: February 12, 2016, 08:54:31 AM
Do you mean what happens when mining or sending a transaction?

if mining, then nothing happens.  You just won't be solving anything and won't have a chance of finding a block until you continue mining again.

If you mean that you were sending a transaction - then if the transaction hit the network then it's already done.  Once it gets picked up it will most likely get confirmed whether your machine is on or off since the coins are not on your machine but rather tracked in the network.
434  Bitcoin / Mining / Re: BitFury has the No. 1 Crown for Now... on: February 12, 2016, 08:50:59 AM

Maybe.  They have 6 months to make some money off of it before the halving.  Halving is coming.

The usable life of a miner is just 6 months. If you cannot ROI within 6 months, you will never. So They should have planned for that.

What you talkin' about Willis?  I got S3s that have been going nonstop for over 16 months and will continue well past the halving.

And I'm sure lots of college kiddos "leeching" free power for 4 years at a time.  For me mining ROI is a secondary consideration - my main concern is keeping the network distributed.

If your electricity price is over $0.25/kWh, You will not mine profitably after the halving. The only motivation to mine to keep the network distributed.

I don't think anybody can mine profitably at present with $0.25/kwh  Shocked.  I am paying $4k/month to lease an office that I use less than 50% of the business days, just trying to recoup a little bit of the rent with the "free" electricity while supporting the network.

You need quite a few S7 to consume the $4k/month electricity cost. Will the landlord know the difference to the power bill?

I said recoup a little bit - not the whole thing Tongue

I think I may have been partially responsible for one of the older transformers blowing out coming from the main trunk - happened about 3 years ago when I was all card mining.  It was so eerily quiet Tongue
435  Bitcoin / Mining speculation / Re: Is it wise to invest in miners few months before reward halving? on: February 03, 2016, 09:29:38 AM
I think the time to make a profit before the 1/2ing has passed.  You're better trying to grab a miner after the prices adjust themselves afterwards.  Gives you time to hunt for a deal on an exchange Tongue
436  Bitcoin / Mining / Re: BitFury has the No. 1 Crown for Now... on: February 03, 2016, 09:22:28 AM

Maybe.  They have 6 months to make some money off of it before the halving.  Halving is coming.

The usable life of a miner is just 6 months. If you cannot ROI within 6 months, you will never. So They should have planned for that.

What you talkin' about Willis?  I got S3s that have been going nonstop for over 16 months and will continue well past the halving.

And I'm sure lots of college kiddos "leeching" free power for 4 years at a time.  For me mining ROI is a secondary consideration - my main concern is keeping the network distributed.

If your electricity price is over $0.25/kWh, You will not mine profitably after the halving. The only motivation to mine to keep the network distributed.

I don't think anybody can mine profitably at present with $0.25/kwh  Shocked.  I am paying $4k/month to lease an office that I use less than 50% of the business days, just trying to recoup a little bit of the rent with the "free" electricity while supporting the network.
437  Bitcoin / Mining speculation / Re: Daniel Mross paid 2700 BTC to ButterflyLabs in 2012 for 25 Gh/s on: February 03, 2016, 09:15:16 AM
So very few hardware manufacturers in the Bitcoin ever delivered more wealth to their clients despite making grandiose claims.  BFL was probably the biggest loudmouth of them all.

The only mass production hardware manufacturers are Bitmain, Avalon, KNC and BitFury. Bitmain is the best.

I think he/she was referring to past manufacturers (see title of thread). It seems even in the 4 you listed the opinions have swayed very far.  Avalon was loved until Yifu cheated everybody.  KNC was loved after their first/second batch and then went to hated.
438  Bitcoin / Mining speculation / Re: what am I calculating wrong? (free energy no RoI) on: January 28, 2016, 08:26:11 AM
Well even the reselling window to informed buyers will start dwindling as we get closer to halving. There's always the option to sell to somebody less knowledgeable and the karma that comes with creative advertising  Wink
439  Bitcoin / Mining speculation / Re: Give me some advice please on: January 28, 2016, 08:24:07 AM
I think the guy is a time waster too, no mention of budget.

Just a dreamer.

So BFL is not coming out with a 100,000TH/s miner then?  And they told me that I would get it SOON - I think 2 weeks was their estimate.
440  Bitcoin / Mining speculation / Re: Turn off S7's during peak hours? Special deal from power company... on: January 28, 2016, 08:19:55 AM
Of course it would be worth it. Don't even have second thought on it since the difference of rate in peak hours it's crazy high as opposed to normal hours plus it's just 5 hours a day so it would even help lengthen the miners life as it gets some rest daily as opposed to running it 24/7 so the pros are more than it's cons so switch the S7 off during peak hours.

Cycling on and off daily actually shorten life of electronics. Thermal dilatation of chip compared to PCB bends the leads of the chips and eventually fatigue fails them. Good board design would not be affected by thermal cycling while bad ones would be destroyed.

That being said, I don’t think this would really affect the reliability of your miners and I would most likely shut them down every day at that extreme electricity rate.


I have had a few miners die during the power-up phase.  That was from a cold start.  That's why I suggest that he leave them in an idle state where they're only drawing like 50W to run the fans and keep the OS active and plug the cable back in when the cheap rates go online.
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