why would btc value go up just because mining is getting harder? that doesnt make any sense.
Because many people will finally realize that buying BTC is more profitable than buying a miner + paying for electricity and cooling. That doesn't change the demand for BTC. It just changes how they get it. Bitcoin price does not rise with difficulty. In fact, it is the other way around. Higher bitcoin price causes difficulty to rise. |
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I might be crazy, but I actually bought back in. I have even more shares this time and I paid less for them.
There is no doubt that Labcoin is undervalued right now if they continue to increase their hashrate and pay dividends.
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I think Avalon B1 owners made a killing. Rest all struggling to recover back investment.
This. Even the people who made money from mining would have made more buying BTC directly and holding it. Only Avalon B1 has been profitable in terms of BTC in and BTC out. |
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I have ordered three Jupiters myself, I dont worry about roi. And my own opinion is that btc value will probably get higher at the end of the year when mining will be harder business. Everybody should also think a little for youself. Every miner that goes on is competition. I would not take advices from other miners these days  why would btc value go up just because mining is getting harder? that doesnt make any sense. |
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Overall I've done fairly well mining. Maybe just through luck.
B1 Avalon did extremely well. Paid 114 BTC, mined 452 BTC to date.
B2 Avalon also did pretty well. Paid 75 BTC, mined 160 BTC by the time I sold it a couple weeks ago.
The BFL products will surely be a large loss. I paid maybe 50 BTC for 2 Jalapenos and a Little Single. So far I only have the Jallys and have mined about 1.3 BTC.
I've purchased various FPGA boards, some of which I'm sure have paid for themselves, and some never will. I doubt any of the USB BEs ever will.
I have some Klondike K16s in limbo with unfinished firmware, made with chips I bought in Zefir's batch 1. They surely won't even come close to breaking even now.
Supposedly I'll be receiving my Metabank Bitfury miner soon that I paid 30 BTC for. I expect I may break even on it, but not much more.
I'm thinking that at some point I should logically stop reinvesting in new miners and just keep the proceeds, but boy I sure do love mining.
How did you do so well on your B2 Avalon?? When did you get it? I received mine on July 9, and it's been running non-stop since then and it's only mined 60 BTC so far (getting about 82-85 GH/s maybe). Even taking into account the poor luck Ozcoin has had the past few months thats only an extra 10 coins. |
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If you look at it in bitcoins: Avalon batch #2 (bought the order off someone in early May): 130 BTC, earned just about 60 BTC so far because it was 2 months later than expected! -70 BTC 2 BFL Jalapenos, ordered last year for $150 a piece I think. BTC was at about 11 maybe so perhaps 13.5 a Jalapeno, or 27 BTC total. So far they've mined almost 9 BTC. -19 BTC. But, that's $1,125 in dollars, vs $300 spend on them so that's a profit. 2 BFL Singles ordered, $1300 a piece, $2600 total, thats about 236 BTC at the time I'm estimated. I just got them today! So 0 BTC so far  . The Avalon will be the only huge loss. About $13,000 paid for it (though I paid in BTC) and it's only made $7,500 so far (60 coins). But... the Avalon was a hedge against ASICMiner and I made about 325 BTC on my ASICMiner shares in just 3 months (I've long since sold them). |
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I think the bitcoin security market is just too small for an IPO like this. I'm sure a lot of people would be interested if they had a clue this was available.
There should be some marketing somehow directed towards getting more people to participate in the IPO.
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First, Cointerra is MUCH cheaper at about $3/GH/s. That's a factor of more than 3!
HashFast second batch is cheaper too at $8.75/GH/s and they are supposed to deliver in November!
To be fair, you cant just compare hardware cost with a hosted solution. Put that cointerra in a datacenter with electrcity/cooling/monitoring/redudant everything included for a year, and you end up paying a lot more than $3/GH/year too. Sure, I was just responding to the person that said this was the cheapest hardware out there right now. |
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Hosting contract equipment comes from our bulk production of Monarch cards so contracts will begin to be served in the January / February 2014 time frame. $10.83/GH for something starting in either January or February? LOL! I ran the numbers and these look as good as a dead donkey. Actually this is lowest $/GH ratio available on ASIC market (excluding other BFL cards). Next one is KNCminer Jupeter with 12,48 $/GH (with preorder for November delivery). If BFL will activate this service even on February - these options are sort of the same by profitability. BFL is very good at marketing and have great vision of future. Their delivery totally sucks, though. But everything is already foreseen by them. Soon difficulty will skyrocket with cosmic rates. To keep stable income from BTC mining - one should buy new devices every month (and $/GH ratio will drop a lot in future to keep buyers, so amount of bought devices per month will grow). Does anybody want to have hundreds of devices in his room, and maintain all this stuff? Nope. Its much easier to buy mining contact - pay money and receive mining power instantly, without shipping and device setup and etc.. Plus, this is better for ASIC producer too - they do not need to process all these orders with shipping and packing. Just receive chips from manufacture, assemble on board, plug board into server rack. Soon ASIC producing companies will start to switch to this contract delivery model. They must be stupid to leave this opportunity. And BFL does this now not because they have technology, but just to establish themselves as general provider of such service. Real result will be provided by them in two weeks after publicly announced date . Its just their work model - promise thing that will be demanded in future, collect invests, promise, deliver when its not relevant anymore. It looks totally promising, just don't invest anything until you will see that this service is online. You are way off. First, Cointerra is MUCH cheaper at about $3/GH/s. That's a factor of more than 3! HashFast second batch is cheaper too at $8.75/GH/s and they are supposed to deliver in November! |
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Why has this company not gone out of business already?
Seriously, can we get some more progress on the class action suit?
Or at least have more people contact their state attorney general and FTC.
We need to shut them down before they scam more people.
They are like a fungus that just won't die.
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Everything about the OP screams "don't trust me!".
From the username "madmadmax" to the guy fawkes mask avatar to the fact he won't say a single thing about his business (not even "plastics" or whatever).
I think he is just a lonely troll sitting in his mom's basement looking for attention. I wouldn't give him the time of day let alone any of my hard-earn money.
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I am really confused which one to buy right now ASICMiner Blade or CoinTerra? I am thinking about getting either 10 x 10GH/s ASICMiner Blade or 1 x 2 TH/s CoinTerra which will not get deliver until January 2014.  Which one should I get right now? Will I get my ROI quicker by buying 10 Blade? Or wait for the best and pre-order the CoinTerra 2 TH/s which is more powerful but that will be in 4 months time?  Also I am confused about how many GH/s = 1 TH/s Thanks for your time. Dragonkid You won't ROI AT ALL with a ASICMiner Blade. No ASICMiner hardware has ever returned the money spent on it. They are simply price WAY too high. Right now a ASICMINER Blade at 10GH/s needs to be priced around 2 BTC or so to have a chance of breaking even. That is about $250. Any more and you won't make your money back. I'm not sure what you are paying but I'm guessing it is more than that. A CoinTerra 2 TH/s delivered in early January should pay for itself and more. But, CoinTerra has no hardware yet! They could easily miss their shipping target (pretty much ever mining company has been late so far), or they could even be a complete scam. At least if you pay by credit card you should be able to get your money back. Also, it's possible that with KNC, HashFast, and Bitfury shipping this fall, the difficulty could be far higher than predicted and even 2 TH/s at $6k or whatever CoinTerra is charging might not break even. With ASICMiner though, you are pretty much guarenteed not to break even. |
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well
after careful thinking
it's my conclusion that most asics on the market will not ROI in bitcoins.
it's also quite apparent NOW once things are put in perspective that that noone will be getting ROI in fiat currency as well.
the daily bitcoin amount is limited and the amount of money (bitcoins and fiat) spent on getting a tiny portion of the pie is now insanely high.
this means that if miners are rational they will all STOP selling
otherwise they will be mining AND selling at a loss. they'd have to be either altruistic or stupid.
hence i believe in the next coming months most miners will HOLD their btc and not sell at current prices no matter what (unless they are about to be evicted or something)
nothing to do with any price movements or looking at trading patterns just stating obvious facts.
this will squeeze the supply and slowly drive prices up.
That's not how it works. If anything, miners will have to sell the BTC they mine to cover the costs of their expensive mining equipment. I know I have charged the pre-orders I have on credit cards. I will sell the first few coins I mine to pay off those credit cards once those miners arrive. Furthermore, no one will mine at a loss in the sense that the miners will make more BTC than it costs to run them. They may not make back their original investment but that is no reason to sit and hold the BTC. Since bitcoin can go both up and down and no one can predict which way it will go, you will make no more money if you sit and hold than if you sell right away. |
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Currently my 60gh single uses $1.50 in electricity to generate 1 btc. At 10x the current difficulty it will cost $15 to generate 1 btc. At 100x, or 11,262,855,200 difficulty, it will cost $150 and take about 1 year to generate 1 btc.
1 btc currently equals $140
Do you think I will be turning it off anytime soon?
At a 30% increase each time, it will take 13 more difficulty changes to reach near 11 billion. 13 x 11.5 days each cycle is 150 more days til we get to a point where I may have to shut down my miner if things continue as they are.
And how much is your electricity cost? Must be next to nothing, if you even pay for it. I think you made a serious miss calculation. How about you show the math? I'll do the math. A 60GH/s single uses about 280 watts (correct me if I'm wrong). That is 6.720 kwh per day. It mines 0.2679 BTC a day. That means it takes 3.7327 days to mine a coin. 3.7327 * 6.720 = 25.084 kwh to mine a coin. If it only costs $1.50 to mine a coin then your electricity must cost 1.50 / 25.084 = 6 cents per kwh. That seems a bit low. |
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TBH, I'm rather annoyed at the idea of bringing another 2PH online so quickly. Only customer orders should come online. Not 2PH no matter what. It is kind of rude to the community.
Tired of having money tied up in pre-orders.
The sad thing is that the January 2TH unit will never *really* ROI based on the hashing power CoinTerra says they will put on the network. Yet people should feel comfy because they can find other methods to throw money into this pit. Cheers!  Yeah, that's interesting actually. If they ship on time as much as they plan, the January 2TH won't make any money. If they don't ship on time you won't get your 2TH unit. I'd like to see the math, though, as I haven't done the calculations myself. Best situation for everyone is actually if they are delayed. That way all the KNC, HashFast, and Bitfury customers have time to mine a little first. |
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Why are people putting in bids on BTCT that are below the IPO price? I imagine those will be deleted when the IPO goes live.
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Will the exchanged bonds be sold back on the exchange or will they simply be removed from circulation?
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At this point alt coins out there appears to be fighting for 3rd to 5th place in the virtual currency world. Since Bitcoin is getting hard and harder to mine wouldn't another SHA-256 coin start to gain momentum as users point all there hardware to an alternative?
What's the point. Bitcoin is gold, silver, and bronze. Litecoin is pointless and will die pretty soon along with all the other alt coins. Sure, other SHA-256 coins will be easier to mine but you forget one important fact: There has to be someone out there that wants to buy them or they with be worthless, no matter how many you mine. |
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Great idea, but too little, too late unfortunately. Those prices just aren't competitive anymore unless the chips were available TODAY.
make your own calculation in my eyes it still doable and profitable How can it compete with Cointerra which is only $3500 for 1 TH/s? |
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