. The electric usage stats are made with 1 THS Dragon Miners actually, I use them becasue they are some of the worst efficient miners in the farm right now. When i do the comparison test of machines, I use a solo account (one that only that machine is mining in so i can see its costs, I calculate the Kwh for that machines and multiply its months use by the monthly rate we pay for electric. (IN ADDITION Keep in mind here in the Philippines the Landlords ADD 1 to 3 Pesos to your KWH rate to have power) so we are paying drastically more than anyone else in the world at the end of the day. We have LONE meters installed for our mining equipment so we know exactly what their use is  And it prepares us for solar power here in the next couple months for the Farm. SO maybe you can now understand a person like me who pays 3 times or more the amount for electric that GHASH.IO does to be infuriated with thier lies and BULLSHIT!! Saying 1+1=154 doesnt make it true. Dragon miners use ~1W/GH. Your 1TH machines therefore costs you 1KW*24h*30d * $0.38/KWH = $273 per month (Im even excluding those landlord pesos) 1TH should theoretically mine 0.3824 BTC per month, which at todays price is $121.6 if we ignore pool and exchange fees. With the electricity price you quoted, you spend >2x more on electricity than you gain from mining and your 'profit' is therefore a $151 loss per month per dragon miner. because I have FACTS, BILLS and PAYOUTS to back up my Lips spouting, Too bad you clearly fail at making sense of those 'facts' and numbers. |
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I talked with Sahra about this in several PMs. Hashie has already worked out a time-slice mechanism, to the extent that they know there will be a 4% increase in cost associated with time slicing because miners cannot instantly switch like CPUs can so there is a need for extra capacity to handle the time slicing (all of this had already been figured out by Hashie a month or so before when they promised the feature would be coming soon).
Not sure why it hasn't been introduced yet. Would love to have it now to mine Paycoin.
Do you mind if I chuckle? First of all, there is no shred of evidence hashie has any hashrate of themselves ("gen 1"), as far as Im concerned its a pure mining ponzi. No surprise its "difficult" for them to make pools user selectable. Secondly cgminer has a load balancing feature built-in: http://ck.kolivas.org/apps/cgminer/READMEcheck load balance and quota. Far from costing 40%, I found that balancing the load over multiple pools marginally increased overall performance. |
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So Puppet I have to ask how you can keep GAW in the "legit" category It isnt. And keep in mind IM only judging the cloudmining, not their paycoin/cashtaker/whatever nonsense. It does score less points because it has some provable hashrate, antminer endorsement and we know who they are. Which is more than you can say of: while listing Bitcoincloudservices as a definite Ponzi?
Because it is, according to the criteria Im using. Which one's of those do you think, do not apply? BCS doesn't even try to hold any BTC they pay directly into any wallet I specify. You mean they do not hold the BTC you paid for the contract? Or you mean they pay out a fraction of that on a regular basis, just like every ponzi until it no longer does? I like the idea, BUT your promotion of one site that at the moment is sooooooooo clearly shady as shady gets Which one would that be? How about Hashie? Is it for real or not? Its been discussed about a dozen times now, just read. |
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They seem trustworthy to me. It says so on their website, so it must be true:
Why trust us?
Bitrush provides the most reliable way to mine bitcoins from anywhere in the world. Through years of experience in financial markets and data mining, we have created the ideal way to mine bitcoin.
Our mission is to provided a trusted, high performance hashing services using (as yet) unconventional but superior methodologies while providing each customer with exceptional account management.
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speaking of other ponzis, you guys know if that site called coinminer.com is a ponzi? this site right here https://cloudminr.io/i wish there was a excel spread sheet on listed ponzi. Check my sig. |
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i'm sure that there is no doubt that there is profit for those who are mining, as long as they are swapping it straight to BTC on the toy exchanges.
But there is not a single honest and real assurance made by GAW that it will be worth holding onto. Hence why i'm playing safe and just renting out my rigs for all the BTC I can muster while this phenomenon lasts.
Certainly a smart move on your part. But Im just curious what the catch is for miners (if there isnt one, the network would be much faster by now). Does it have something to do with the proof of stake, or how long it takes for these things to mature? |
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just stumbled across this... it's astounding the amount of money that people are just flippantly throwing away on this altcoin. 12.75BTC for less than one day rental of 150TH/s? deary me that right there is some kind of insanely blind belief.  Trying to do the math, I just found this paycoin mining calculator: http://www.coinwarz.com/calculators/paycoin-mining-calculator/If that is correct, it appears hugely profitable atm, not sure if Im missing something? Not profitable enough to warrant the 13 BTC, but mining 6.5 BTC worth of scamcoin per day aint bad at all for 150 TH. Mining bitcoin its just 1.9 BTC. |
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100ROI in next 85days assuming the difficulty doesn't raise!
(foolishly) assuming they will still be around in 85 days. |
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FWIW i have a couple of contracts under a couple of names and they both got payments last night. Both were 60Ghz and got 0.000242 each. Roughly 10% of what they got last week. A couple for 5 or 6 Ghs did not. I think the amounts were probably what the formula was predicting.
Silly question, but was there some sort of EULA/contract we had to agree to stating what the terms were when we signed up? I don't remember one. If we can't actually say "this is what was agreed between us and Jason" then I'm not sure what sort of claim we have?
So the 5 and 6Ghs were frozen last week but the 60Ghs got a payout this week. Anyone with less than 50 or 10 Ghs get a payout? I wonder what the cut off point is? Could he still be paying out to cover his backside? All the while he is delivering (albeit at a reduced rate) he is still in business and we have less of an argument. Am I right guessing the 5 and 6 GHs contracts where much older than the 60GH ? As for the original contract, here ya go: There are no mining pool fees to the customer. We cover our own mining fees from our pool workers which the customer will never have to see.
Instead, the customer is payed based on this fixed formula, taken right from our PHP script:
$per24 = ($totalHashingPower * 25 / $difficulty) * (60 * 60 * 24 * 65535 * pow(10,6) / pow(2,48));
This formula is standard with all Bitcoin Profit Calculators. https://bitcointa.lk/threads/pb-mining-5-year-mining-contracts.238321/page-7#post-4610327The post was later edited and replaced with "A+B=C" or something along those lines, but you cant just retroactively change a contract. |
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I think it can, you see why are there so many cloud mining service now if it's not profitable?
Profitable for who ? Of course its extremely profitable... for the scammers who can earn 100's or 1000's of BTC with just a copy/pasted website |
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WHat we have here ladies and gentlemen is a GHASH.IO Puppet (funny it really is his usrname) HAHA
Im getting used to it. Before reality hits, people accuse me of trolling or shilling for the competition when I do the math and show their investments are guaranteed to go up in smoke. Be it cryptx or cex or others. Then it happens and they scream 'scam' because they lost money, and when I point to the same math I become a shill for them  There is nthing wrong with my math, you know why, I am not the one adding it up I plug my machine in and I turn it on, it mines and I compare it with my electric bill . so no my math is not wrong YOU ARE!! The stupidity of that statement exceeds my ability to respond to it. Seriously. Im pretty sure your 'secret proof' carries about the same weight, so Im signing out of this thread. |
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Too late? Be happy you're late.
RIght now, expected divs are as close to zero as to be zero for practical purposes.
Some might want to gamble on BTC appreciating (lowering fees) and difficulty remaining flatish for at least some time. IN that case you could make a profit, price per GH is low, but understand that if btc stays where it is, and/or next gen asics come online next month, net value of these shares will be ~0.
So if you want to gamble on a BTC appreciating, Id say: buy some BTC.
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so, any comment from hashie maybe about pointing to pools? or at least about miner mods? How about any evidence of the existence of these miners (gen 1) at all? |
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Well, at least it does not look like a ponzi anymore...
Did pbmining look less like a ponzi to you when it hiked its price, mere weeks before it collapsed? |
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Obviously a couple of issues with pool choice is that you would need to own blocks of hashrate matching the hardware capacity, and pay maintenance fees out of pocket (because revenue goes directly to you and the provider can't take a cut), so it basically becomes hardware hosting.
No need for blocks of fixed hashrate, you could spread the hashrate of a single miner over as many pools/workers as you want. Just count the submitted shares, and switch whenever appropriate. Or do simple time slicing. As for maintenance fees, these can be paid up front if the contract is for a reasonable fixed duration, many cloud providers do that already anyway. Then there is no problem pointing it to any pool you want. |
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What other services you can choose to point your miners?
AFAIK, currently only cex.io and nicehash. Not even sure about cex.io. Can someone confirm? |
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