In addition to the selling caused by the high price, there is ongoing sales of BTC that are just not optional. Bitmain must sell at least 100 coins each day to pay suppliers, workers, electric bill, and so forth.
We should expect that there will be "resistance" levels where the price brings out many seller. $500 is urely one of those points.
It's really hard to tell how much they have to cash out With data centers full of gear even with low electricity, that is still a lot of money. And they have to cash out to make next batches of miners I would think. Guessing they go to fiat and then buy miner parts in fiat. I'm sure they don't run day by day. I'm confident they have a good amount of rainy day funds to keep everything going incase it ever did drop a lot. They convert all coin, only coin they have is to pay miners and hashnest. Otherwise, comes in and its sold. Look at when they sold 500 s7 on HN, within 10 min of sale starting, the BTC price dropped and continued to drop till they sold out. 500 miners is almost a million USD dumped in 32 hours, the first 3 hours was a good chunk of that. When they sold out, within 1 hour BTC started going up again. BTC is a pretty small market from a liquidity perspective. I guess I should have know this. But that is a crazy amount to dump at once. Wow surprised I never noticed. But makes perfect sense. Do we know if S4/S5 sales caused a dump? And if so how much? |
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Gosh! The pay rates have decreased to 0.0007 BTC for senior members? Glad that it gets reflected in the next payment and not the current one.
The price rose by over 100% and payments decreased by 30%, after several weeks of a rising price. I think that's fair enough. Fair enough. Any news or that Avatar campaign or did it miss it? I'm still interested in renting off my Avatar space. Ive been running with my avatar for free on it. The campaign has treated me well so I have trouble asking Macro for a few small payments over it. But maybe one day I will see again if I can rent mine aswell. With being here 7 months Ive been kinda easy going as I enjoy it here. |
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I think your best bet is to use faucets. The thing is if you have 500 people doing faucets for you, roughly once per day, you are probably looking at about .05 income per day if they were doing enough of them.
But to get 500 people under you is a MASSIVE undertaking. You would have to offer higher rates or something to bring them in. Referrals are not easy to get. I would not fight for them unless you have a plan better then everyone else.... which is hard to do. |
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A better investment would be to purchase your own miner, unless you have a really high lighting bill.
If you have skills to set up miner - yes, but cloud mining services are mainly for users that don't have this skills. A lot of the miners don't take a ton of skills to setup like old GPU rigs did. At this point its really a game of price of electricity and vat/import tax. Some places electricity is just very high. In those places you cannot seriously home mine. |
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Ok, so i want to take advantage of my free electricity. Want advice on what hardware to buy taking into account that my electricity bills will be free.
I want speed (GH/S)/ low price hardware for mining. Any advice?
It all depends on what you can get a good price on. With "free" you are looking for quick ROI normally used gear. You started at a bad time as surge raised gear price most likely. Keep sound and heat in mind when you are thinking about sitting it up. |
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In addition to the selling caused by the high price, there is ongoing sales of BTC that are just not optional. Bitmain must sell at least 100 coins each day to pay suppliers, workers, electric bill, and so forth.
We should expect that there will be "resistance" levels where the price brings out many seller. $500 is urely one of those points.
It's really hard to tell how much they have to cash out With data centers full of gear even with low electricity, that is still a lot of money. And they have to cash out to make next batches of miners I would think. Guessing they go to fiat and then buy miner parts in fiat. I'm sure they don't run day by day. I'm confident they have a good amount of rainy day funds to keep everything going incase it ever did drop a lot. |
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UPS on a miner is a waste of money, if you have reliable power.
Electric being effectively "free" during the winter doesn't require you to have electric heat - miner heat generation cuts gas bills for heating quite well too.
There is a limit though, if you have enough miner heat output to exceed how much heating you actually NEED.
They are saying they are tripping breakers, and UPS stops it from it. I think it sounds like your putting to much load through your wires if you have to use things like this not to trip the breaker. You really should just stop mining if your using the other device that trips it. I don't like to play around with electricity. |
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Kind of similar, have 2 U3's (had some more, but they died) running along with a S3+ on a 1000W EVGA. Was getting zombies like normal with both U3's on same pcie, put each U3 on it's own pcie and haven't had a zombie after more than 48 hours (YET). They have reset from au3 0 and au3 1 to au3 5 and au3 6, but there still going without me unplugging and replugging. Also for 48 hrs I've got 531HW total right now, where I would be expecting ~ 3-4 times that many in 48 hrs.
One thing I found that made a big difference to my U3 (and I specify "my" because they all do different things) was when I switched it from an instance of cgminer shared with a few other usb sticks to its own cgminer instance. That change alone made 50% of my zombies go away, and it only very, very rarely changes from AU3 0 to AU3 1 (only happened 3 times in last month). As soon as I get paid I'm ordering an R1 from crazy guy. Discounting the wireless and other functions of the R1, I look at that device like a 5GH stability upgrade to the U3.  Since I upgraded I have not touched those 3 U3's. His firmware has been able to fix any problem without any interaction from me. Which is awesome. So far 2 day's of not messing with a single zombie unplug/replug .. I could get use to this |
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Talk about dissapointing the surge has turned the other way. Seems a lot are selling at the moment.
Hopefully we build on it and are more stable next surge. Current 391 on coinbase
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Still the best signature campaign out there. I have been part of it for over 7 months which is pretty amazing a sig campaign being stable that long.
I sent you a PM macro when you have time.
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The problem is most adapters are not built up to this standard on molex adapters. If you go to a computer store most are not good enough gauge I think it's safe to say. There are a few on the forums though who do make very high quality adapters with proper gauge. If you have to use a adapter I suggest getting it from one of the makers on this forum. |
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If i would order five S7. To Sweden what is best to use : Fedex UPS or DHL ?
put them in your basket and choose each option. It will show which is the cheapest. It also depends on area. Mine UPS and Fedex work fine. But I'm on the edge of the DHL's route so it's always drama and I drive to meet him or it's late. But for some DHL is amazing. So I would base it off your other packages on what is best for you. It really does very depending on your carrier. |
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I should do good I am going to team my S7 up when it comes with my S5. should have 4.86 TH/s + 1.23 TH/s = 6.09 TH/s and with free electric stated in my rent agreement wew !  I would read it and make sure there is not a clause that prevents spikes. Those two are 2300ish watt's so $5.68 per day in electricity so in 30 day's around 170 + all the electricity you normally use (assuming 10 cents this could be wrong). Assuming you use heat for winter I'm guessing that plus over 2k in mining gear will get a call from landlord. But I could be wrong. |
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A trying to enroll today in thread. To help save macro time: So currently it is closed on spots. If you bring something very special then PM macro and ask. But there is no need to post in thread as if enrollment is currently open. It's on individual basis, and you have to have something special/unique to bring to campaign. Most will not fit into that something special category. But if you feel you have something like that, PM macro and ask. |
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I had something very suspicious happen on my BTC-E account (lost all my BTC).
When I login to BTC-E, I will get a "Successful authorization" notice via email with the IP address of login. The last time I logged into BTC-E was in the beginning of August. However, recently I was unable to login to my account (email was no longer valid) and I was able to recover access via BTC-E support by providing them proof of deposits.
When I finally opened my account today, I saw that all my coins had been transferred to this wallet address through an unrecognized transaction I did not authorize in September: 18nCqz6GV4HhcagwVnEF6X9Ha6A3YbGEPT.
However, when I check my email, I do not see any "Successful Authorization" in September or any other confirmed logins after my last known login in August.
If someone hacked my account, wouldn't they have to at least login the first time where I would have been notified? Is there a way for this to happen otherwise? I am somewhat suspicious that this may have been done internally.
No one in here can see your settings, or what really happened on your BTC-e possible hack. You can report it in scam thread and see if anyone there is able to follow BTC to a known scamme. But that does not help you get your coins back. Likely all you can do is ask BTC-e support which I have heard can be slow at times. But you will need to ask them for help on what happened, but it's likely coins are gone no matter what they find. |
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do NOT give this person any of your BTC. If mining themselves wasn't profitable, selling mining power to others would not be profitable for them, simple economics here.
Sorry you are wong... why are you wrong? because you have not read or not understood what I wrote. you talk about BTC...I talk about satoshi lost satoshi if you do reach not the minimum payout or if you reach it you have huge fees. Then...please do not misinform people here with things you do not understand about. Have a nice day. If you do a "mining team" you likely would need to somehow escrow it where a very trusted escrow got the money, and not you. It is nothing personal just when you have "Warning: Trade with extreme caution!" beside name no one trusts you. So if you want to do your idea get escrow for or else you likely will receive the same response you got above a lot. I offer a service... if someone is not interested or does not trust me...then basta...(lol) We spoke about few satoshi: situation #1 you mine solo in your pool...and you will never see your satoshi or you pay huge gees. situation #2 you mine in my team and you will see the satoshi in YOUR wallet And you would that an escrow is ask to manage all this stuff for few satoshi? I'm giving you the honest truth. Any deal even if a few satoshi will need to be escrowed with you with the tag "Warning: Trade with extreme caution!". That tag no matter amount I think is going to require escrow on anything you do dealing with BTC no matter how much. I don't mean to say it to be rude. I was trying to help with post as I think you will see it would take a escrow for someone to work with you on it. It's ok...I have understood you... But it is not a deal...it is a service. No trust = no service. "A" offers a service "B" gets the service and you want that "C" is escrow for free? if "C" is not escrow for free...and ask escrow fees...then the fees are higher as the service is worth...(lol) My "negative trust pointed" is a mistake... I cannot correct the mistales of other people.(lol) It does not matter if you offer a service or good it does not matter. If the service has even small amount of BTC you will need escrow with your negative trust. And again I'm not meaning to be rude. Until you get enough good trust or get those "mistakes" fixed. It is going to be hard to do any business direct. |
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do NOT give this person any of your BTC. If mining themselves wasn't profitable, selling mining power to others would not be profitable for them, simple economics here.
Sorry you are wong... why are you wrong? because you have not read or not understood what I wrote. you talk about BTC...I talk about satoshi lost satoshi if you do reach not the minimum payout or if you reach it you have huge fees. Then...please do not misinform people here with things you do not understand about. Have a nice day. If you do a "mining team" you likely would need to somehow escrow it where a very trusted escrow got the money, and not you. It is nothing personal just when you have "Warning: Trade with extreme caution!" beside name no one trusts you. So if you want to do your idea get escrow for or else you likely will receive the same response you got above a lot. I offer a service... if someone is not interested or does not trust me...then basta...(lol) We spoke about few satoshi: situation #1 you mine solo in your pool...and you will never see your satoshi or you pay huge gees. situation #2 you mine in my team and you will see the satoshi in YOUR wallet And you would that an escrow is ask to manage all this stuff for few satoshi? I'm giving you the honest truth. Any deal even if a few satoshi will need to be escrowed with you with the tag "Warning: Trade with extreme caution!". That tag no matter amount I think is going to require escrow on anything you do dealing with BTC no matter how much. I don't mean to say it to be rude. I was trying to help with post as I think you will see it would take a escrow for someone to work with you on it. |
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i think it's cold wallet, but the effort is different if you use online wallet
cold wallet is more troublesome than online wallet
Cold wallet is meant to have more security. So being slower and taking longer to access your coins is part of it. As part you should have cold wallet stored somewhere safe. Online wallet is a different creature. It is easy to access and does not take long. This is why you should only keep spending cash not all your money in online wallets. |
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I am searching for a good place to hide my paper wallet
i don't want any one to see it or try to scan the QR code
please don't give me silly places, I really want to hide it in secure place
I didn't use paper based wallet because im the type of person who could easily lost his items  But if i were you i would put the paper on my wallet, safe and secure unless a thief stole your wallet  If you want more security you can always order a small safe box and store it inside there Or maybe rent a deposit box on a bank and put your wallet there  Yea putting it in your wallet is not recommend. Just to many people can get it taken and not even know till they need it next. Which could be enough time to drain the account depending on thief and how BTC savy they are. Salty deposit box is hard to beat. It has bank level security.... so better then even protected homes. But it does cost monthly or some sort of fee. |
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Very well done on making it simple and a very understandable guide. Thanks for sharing it.
I just wish faucets paid more. I have trouble getting excited over a few cents a hour. Even with bitcoin doubling in value it is still small earning off these. And if using a regular PC and monitor I bet it costs more in electricity then you make.
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