What if the coin goes DOWN?
Can you profit buying the coin (shorting BTC is very difficult from what I understand) if the exchange rate drops? A miner can.
Purchase miner for 0.75BTC. Mine 0.375BTC. BTC goes down to say $100. You have 0.375BTC worth $37.50. Don't purchase miner, keep the .75BTC. BTC goes down to say $100. You have 0.75BTC worth $75.00. No matter what happens with the exchange rate of BTC or whether it goes up or down, 0.75BTC is always more than 0.375. At this point I simply refuse to believe that anyone can be this obtuse or ignorant. You must be trolling. I thin it's YOU who is trolling... BTC @ $600(USD) I Buy 1 coin BTC @ $600(USD) I buy mining equipment for 1 coin BTC @ $550(USD) My one coin is worth $550 BTC @ $550(USD) My mined amount can go OVER $550 because I can mine 1+BTC with it.Are you so obtuse or ignorant that you cannot understand something this simple? So you're finding the magical miner that makes more BTC than it's initial outlay. Not one BFL device did that. Not one Cointerra. Not one Hashfast. Not one Black Arrow. None of the Avalon B3s. THe first 2 Avalons, the first KNC Jups, and the first S1s did this. Dragon, Rockminer, SP30s won't. Good luck. you are assuming quite a bit saying a dragon will not do roi in btc. it could. you have no idea of power cost for someone. put in 1th with 0 power cost it will get a lot of coins. also there is a power wall for asics. and it will be reached when it is reached growth will slow to a crawl. if power wall is .2 watts diff will max near 600g since no one could earn money even with 8 cents a watt. and if the power wall is .35 watts diff maxes near 400g at 8 cents so at a diff of 600g and free power the dragon keeps earning money. So free power people with smaller rigs will never disappear. I made roi with s-1's purchased in may 3 for 1.15 btc how did i do it. power at an 84 % discount. 14 cents a kwatt cost me under 2.5 cents. So I will never be fully pushed out of mining due to my power discount. Well you're obviously the exception to the rule. Maybe the OP was overstating it by saying it's "impossible". But the sentiment is still true for 99% of us. yeah spot mining at home with a power discount will work. figure ways that the heat works for you not against you. make deals with people that have access to low power costs. >>>> big upside if you find them.. I have the one spot 14 cent power is discounted 84% down to 2.24 cents. I must not run more then 800 watts. I must make the gear quiet. There are places that s-3's will pay to run. I know of 2 developments near my home in Howell NJ that use electric power to heat their home. Old school baseboard heat heating bills are 300 a month in small 4 room homes. I am attempting to have s-3's mining in one or two of these homes. This could make nice money for me and the home owner's that I recruit. |
|
|
|
|
you need to understand. that power has a lot to do with mining
the s-2 can be run on a single 15 amp circuit with power to spare. in fact if you pull one of the 10 blades and run 9 blades it is very reliable .
also realize 400 usd coupons are still around.
the gridseed sucks hard on power.
1300 watts for 1.1th
more like 1350 watts for 1050gh.
you do not have the ability to pull a blade and drop 10% since it has 5 blades.
so one unit can do 900gh at 900 watts>>> with over head and a spare blade.
the other 1050 gh at 1350 watts
other reasons to get the s-2 a direct upgrade to an s-4 may occur very soon.
Frankly I would not want either one .
I want a few s-3's 4 to 8 of them. I have 2 on order right now. i will wait for them to arrive and get setup then order more.
|
|
|
|
This is why the upgrade packages are not yet available.
When/If S3 sales slow down, Then you may see the upgrades.
They will fill the gap for a few weeks until Bitmain's next market coup.
if its available in the end of july... then bitmain will be making a big cash out of it but, we (the s3 buyer) will be the one who'll making sour faces while the upgrade price will likely under 0.4 BTC  I sold my 3 s-1's for .2btc each the buyer paid for shipping. an s-1 to s-3 upgrade will be .5 to .6 btc not .4 . but i am guessing. back to shipping of batch 1. has anyone had a shipping update. it is 11:30pm in china the 10th of July. I have to think shipping has started. I placed my batch 1 order in the first hour. so Maybe my gear is on its way. one can dream. |
|
|
|
https://bitcoinwisdom.com/bitcoin/difficulty btcwise says = 17,691 http://bitcoincharts.com/ bitcoin charts = 17,140 Total = 34,831 / 2 = 17,415.5 which is 3.55 percent So with 371 blocks left still under 5 percent. What this does for me is help my bottom line on my dragon miner purchased on april 20. It is getting close to btc roi. It has done usd roi due to price rise in btc.
|
|
|
|
its been last 5 days watching over this bitcoin thing and i have some extra cash so i just wanted a suggestion that if i start mining today by buying the hardware would i be in much profit or its just a decent profit??
and i dont have hell of cash its just my pocket money which i would be investing.
so finally is it profitable for a beginner to start mining today?
and i see the difficulty rate increasing like anything day by day..
if yes plez just suggest some hardware which is ecnomic and will pay back in few months.
No miner pays off in a few months. Exceptions are: your power is really cheap and or free. You run a business that uses electrical power to dehydrate food.You use electrical kilns to dry lumber. You buy today and coins go up like mad.-------------mining in this case makes usd / fiat profit. not btc profit. say 1 coin at 620 usd or .5 coin at 2000 usd. buying and hold a coin may do better but faces different tax law then mining for a coin. Oh I don't think you could use miners for food dessication. The mines emit too many VOCs and they're not certified food handling equipment, so at least in the US it would be a no no to do it for sale. Could you dry your own beef jerky at home, yeah, but just don't sell any food because the fines are insane. you would need to use the hot air from the miners to heat a coil. then use a fan to blow on the coil. thus the air used to cool the miners never touches the food. I have penciled a few designs that use this approved rack http://www.lemproducts.com/product/stainless-steel-dehydrator/jerky-food-dehydratorsthis is an 800 watt rack . if you do no use the heating element and use 3 s-3's the key would be to transfer the heat and not the air. I have a few ideas on how to do it. This is an invention waiting for this industry here is an item that burns 800 watts of power for heat. Combine the s-3 with this and make a safe dehydrator. |
|
|
|
they have no need to sell an s-4.
3 s-3's do the job.
they would be better off selling s-2 up grade kits then selling s-4's
Now I am making a lot of assumptions. most of them being they no longer have a lot of cases +backplanes + contollers + psu's left over from the s-2's.
if they do have a lot of them they still may prefer selling upgrade kits. to s-2 owners. before they sell an s-4.
my big interest is s-3 undervolt underclock options.
can I get an s-3 to run at 400gh and 240 watts? with fans set at 1500 rpm = real value for me.
1.6TH/s at 960W? Yes please. Running 4 S3s on a single EVGA 1300... now that would be nice. yeah if this is possible . I would do 2 sets…. I have the psu's . running 3.2th at 1920 watts should last into march of 2015 and still pay for the power cost. |
|
|
|
its been last 5 days watching over this bitcoin thing and i have some extra cash so i just wanted a suggestion that if i start mining today by buying the hardware would i be in much profit or its just a decent profit??
and i dont have hell of cash its just my pocket money which i would be investing.
so finally is it profitable for a beginner to start mining today?
and i see the difficulty rate increasing like anything day by day..
if yes plez just suggest some hardware which is ecnomic and will pay back in few months.
No miner pays off in a few months. Exceptions are: your power is really cheap and or free. You run a business that uses electrical power to dehydrate food. You use electrical kilns to dry lumber. You buy today and coins go up like mad.-------------mining in this case makes usd / fiat profit. not btc profit. say 1 coin at 620 usd or .5 coin at 2000 usd. buying and hold a coin may do better but faces different tax law then mining for a coin. |
|
|
|
I am holding me shares. But I really like to know when we start hashing? Next week? end of the month?
I think they said ship by end of month, so assume start of August! yeah I will just sit on the 5 shares as i am not sending in more money. I have a lot gear in house. maybe I get 300gh for 5 shares I don't know what they are giving. and maybe coins go to the moon. but This looks poor right now. |
|
|
|
What if the coin goes DOWN?
Can you profit buying the coin (shorting BTC is very difficult from what I understand) if the exchange rate drops? A miner can.
Purchase miner for 0.75BTC. Mine 0.375BTC. BTC goes down to say $100. You have 0.375BTC worth $37.50. Don't purchase miner, keep the .75BTC. BTC goes down to say $100. You have 0.75BTC worth $75.00. No matter what happens with the exchange rate of BTC or whether it goes up or down, 0.75BTC is always more than 0.375. At this point I simply refuse to believe that anyone can be this obtuse or ignorant. You must be trolling. I thin it's YOU who is trolling... BTC @ $600(USD) I Buy 1 coin BTC @ $600(USD) I buy mining equipment for 1 coin BTC @ $550(USD) My one coin is worth $550 BTC @ $550(USD) My mined amount can go OVER $550 because I can mine 1+BTC with it.Are you so obtuse or ignorant that you cannot understand something this simple? So you're finding the magical miner that makes more BTC than it's initial outlay. Not one BFL device did that. Not one Cointerra. Not one Hashfast. Not one Black Arrow. None of the Avalon B3s. THe first 2 Avalons, the first KNC Jups, and the first S1s did this. Dragon, Rockminer, SP30s won't. Good luck. you are assuming quite a bit saying a dragon will not do roi in btc. it could. you have no idea of power cost for someone. put in 1th with 0 power cost it will get a lot of coins. also there is a power wall for asics. and it will be reached when it is reached growth will slow to a crawl. if power wall is .2 watts diff will max near 600g since no one could earn money even with 8 cents a watt. and if the power wall is .35 watts diff maxes near 400g at 8 cents so at a diff of 600g and free power the dragon keeps earning money. So free power people with smaller rigs will never disappear. I made roi with s-1's purchased in may 3 for 1.15 btc how did i do it. power at an 84 % discount. 14 cents a kwatt cost me under 2.5 cents. So I will never be fully pushed out of mining due to my power discount. |
|
|
|
So shaxs, is this room anywhere near ROI with the new and improved 16.8 BILLION difficulty? Or are you ready to admit yet that you pissed away a ton of money on ASICs and other work with no chance of breaking even yet?
I like the work, I like the setup, but it just doesn't pay off. And it won't ROI for a long time unles BTC goes way up in price.
Actually, after renting out contracts, mining BTC, and selling equipment, I am pretty sure I have broken even. I need ot go update my ROI tracking spreadsheet to make sure. But dont forget, in the end I now have a bigger shed to store stuff (after the miners) and an AC system I can move to my garage to work on my classic cars during the summer. So building the shed and having it paid for by miners has other benefits  and you started with btc coins under 500usd and coins are over 600 usd. so yeah buy and hold may have earned more but you would not have the shed. Also many people with buy and hold mentality have no understanding of active mining being a completely different tax animal. Plus a gear head tinker man's dream. I look at the entire mining thing as this in the last 2 years. I had the bast pc's the best gpu's the best ssd's and I turned a small profit. All legally ! Plus i could get lucky and my remaining gear + coins could go up up and away. Nice work on the shed and the ants. |
|
|
|
|
they have no need to sell an s-4.
3 s-3's do the job.
they would be better off selling s-2 up grade kits then selling s-4's
Now I am making a lot of assumptions. most of them being they no longer have a lot of cases +backplanes + contollers + psu's left over from the s-2's.
if they do have a lot of them they still may prefer selling upgrade kits. to s-2 owners. before they sell an s-4.
my big interest is s-3 undervolt underclock options.
can I get an s-3 to run at 400gh and 240 watts? with fans set at 1500 rpm = real value for me.
|
|
|
|
|
you have on real recourse.
you could hope for an older ex soldier that invested with them to find out he is dying of an incurable disease.
He has decided to prove a point and goes on a 3 company no make it a 4 company killing spree.
KNC
BFL
BLACK ARROW
COIN TERRA
but that type of story happens in the movies not in real life.
|
|
|
|
I got my Molex to pcie adapters, cut off the ends, and wired them up to the PSU. Looks like these should work!  they look okay. keep an eye on them for wire warmth. 24/7/365 can take a while to melt a wire if you are just over the limit. |
|
|
|
Interested in lowering power consumption requirements for my 65-nm gear. Have you made any progress on this front yet?
Well, you can replace one of the two voltage sensing resistors to drop the chip voltage to .85-.9 volts. Then you can clock down to speed 1 and reduce the power to 2-3w/gh. The other thing I'm working on is removing the 3 top side FETs per power controller and replacing them with two 052ne2LSI's to reduce power loss in the supply stage. With that you don't really have to run the fans on top anymore, my goal is to cool it with a single fan in the case end. That should lead to a quiet purring single hashing at 30ish gh instead of 50+. C getting way off topic but s3 undervolt/down clock really interests me. I have a friends office where i can fit 2 or 3 s-3's and use up to 800 watts. must run quietly . I ran 3 s-1's at 420gh and at 560 watts for 2 months. If the s-3 lets me go to 400gh at 240 watts I could do 3 and get 1.2th at 720 watts . this would be very good . at 3 cents a k-watt they would run until feb or march with out going past power cost. I see spot mini mines as my future in mining 1, 2 or 3 s-3's in a place with discount power. I have 2 or 3 locations in mind. |
|
|
|
well off topic a bit but i did start it. There has been a huge amount of gear sold. I am extended into these area more then I would like . I have 55mh in gridseed blades. (11 of them). I see a problem in alt/coins. here it is: gaw Miners and zoomhash sell with pp and cc. this makes buyers a bit more fearless due to protection of lack of delivery. I see this area of the market flooding with gear. LTC diff is sky rocketing. |
|
|
|
Honest thoughts: I think this is all my fault.
See, the math said two weeks ago that running my turbo jalapenos was no longer profitable at their 5w/gh power consumption. This is due partially to the lower efficiency of running a 5gh unit at 30+gh, along with the water blocks to cool it.
Last Friday I shut down my singles because with the 25% increase without a price boost my Singles were no longer profitable at 4w/gh. I have a feeling everyone else with 65nm class equipment did the same thing.
It is completely illogical to mine at a loss with electricity factored in. Completely and utterly illogical. So I think a number of farms shut down; you can't mine at a bitcoin price below that of the electricity used to mine.
This is why the Monarch chips are interesting; they can mine easily when others have to shut down. Unless you live next to a river or a volcano, this is not something you can get around easily :-)
C
(note: I will be hacking my Singles this weekend to run a lot slower and more efficient. This will help for awhile)
yeah all the above 2 watt gear is getting turned off. there is a lot of 2 watt gear s-1's etc. when it drops out growth will slow down to 13-15 %. maybe lower. |
|
|
|
|
what power supply?
how did you feed power to the gear?
maybe the 1 blade is under powered?
|
|
|
|
|
Show Posts
