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How much has the last month of bad luck and not finding a lot of blocks got to do with variability, or is it that the price of btc has been high for some time so a lot of new miners are joining and increasing the overall hashrate? I include myself in that group by the way!
Could it be that there is simply more hash in total, and therefore the blocks are spread a lot more thinly?
Yes, the increase in global hashrate increases the variance if the pool hashrate doesn't increase along with it. But at the same time, luck is luck. If you look at slush that has about 6 times the hash power we have, their 250 block luck is almost the same as ours. But what about the last 30 days? Is this just the new normal that there is a lot more hash globally, and only the same amount of blocks? Is 1 block a day what we should expect going forwards?
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How much has the last month of bad luck and not finding a lot of blocks got to do with variability, or is it that the price of btc has been high for some time so a lot of new miners are joining and increasing the overall hashrate? I include myself in that group by the way!
Could it be that there is simply more hash in total, and therefore the blocks are spread a lot more thinly?
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I figure if a large chunk of the mining community move to the new community, all of a sudden the mining difficulty and hash size of the original bitcoin will drop?
Could this be a great thing for pure btc miners?
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Unlike numbers on a bank account, which represent legal liability of the bank and are backed by the collateral of specified real estate or other debt instrument that a borrower offers as a way for a bank to secure the loan, the numbers on a bitcoin address are completely void of any legal liability since software that creates them is not a legal entity which can have legal rights and obligations.
So basically, people are paying huge amounts of money to get some empty numbers which are then recorded in a public ledger on the internet. If nobody wants to accept these numbers in exchange for dollars, goods or services, they are as useless as a random number that I write on a piece of paper.
On the other hand, since dollars in a bank account are bank's liability, if nobody wants to accept dollars in exchange for goods and services, they will be settled over time through the legal system by transferring real assets from those who have received loans from the bank, since loans are secured by the collateral of specified immovable or movable property and they represent bank's assets. This comes from the fact that obligation to repay the debt would not vanish if nobody wants to accept dollars. Since the borrower received real assets for its dollars, in the absence of dollars the borrower's debt must also be settled by real assets. Alternatively, since dollars that are in circulation were exchanged for goods and services by some borrower and since he is obligated to repay his debt in dollars, if nobody wants to accept dollars the borrower is the one who is forced to accept them in exchange for goods and services otherwise he is unable to settle his obligation to the bank. Besides being backed by borrower's collateral, dollars are also backed by banks' capital and the ability to pay taxes. As we can see, dollars on their own, have real measurable value, just like goods or services.
Bitcoins on the other hand, don't have value on their own, and if nobody wants to accept them in exchange for dollars, goods or services, no legal action can be taken by their 'owners' to get some kind of value out of them. As such, Bitcons are just empty numbers on the internet, which means that people are exchanging real values for literally nothing.
I personally agree with most of what you have just said. This was particularly true in the early days of bitcoin - very few people accepted them as payment, and hence the value was very low. However, that is no longer the case. Bitcoin is accepted in many places and more importantly - exchanges will give you $ for your bitcoin. This is similar for Paypal. Paypal gives you cash for your paypal tokens when you choose to withdraw them. Until you do, they are just paypal tokens that sit in the paypal wallet. At least bitcoin has several wallet and exchanges! Many people believe bitcoin will gain more credibility in the near future, and "invest" in this future by contributing to mining and using the currency in its infancy. Just look at the speed of growth for paypal! Once they partnered with ebay they were flying! Maybe it takes one big company like this to really get bitcoin growing. Someone like uber would be perfect.
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Hi
I'll sell you 2 LTC for 75$, can send you via paypal straight away
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Hello there guys, I am totally new to the world of mining and I been reading a lot about how this miner I receive yesterday won't generate any revenue. I have never set up one of this machines before and I would love some help and tips so it could bring some revenue.
I'm not sure how much revenue you are hoping to generate, but i reckon with all 4 machines you would be generating around $1 or $2 per day. You might struggle on some pools that do not pay out "dust" (ie very small and invaluable) rewards on a regular basis. i understand some pools pay these out on an annual basis so it saves transaction fee's etc. There are however upgrade kits you can buy that greatly increases the has rate of the S3's - search the forum and you will find them (unsure exactly where the post is). This will cost more money to do so, but i would certainly recommend looking into it at lease. PS - not sure on your set up, but 4 antminers will generate a lot of heat and noise
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Looks like a nice miner though! Website is a little bit slow, but looks quite polished.
seems to me like they're designing it as a home miner (especially with the water cooled parts). one thing that i'm not sure about though is the fan working @ 6,200 RPM - seems very high to me, which might indicate it would be very noisy if aimed at being a home miner.
I would question why they haven't been active on this forum though. If they were going to introduce themselves as a new bona fide manufacturer, then they would definitely have a relationship with the forum, and most probably some of the more senior and serious miners.
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I’ve quite a specific question hopefully someone can answer!
I have an rpi set up to run my single avalon 741 miner - could I also plug in a Moonlander 2 usb miner into the rpi and use that to power it?
If so, it would be great to dual mine!
This might work, but it could be complicated to setup. The easiest would be to get a separate Pi for the Moonlanders. If you really want to make it work, you'd have to run your own version of cgminer for the Avalon and then some other mining program for the Moonlander in a different screen session. Not sure if the Pi has enough RAM to make it work. Thanks wavelength. Would the nicehash programme be an option to run alongside the Avalon programme? I also read you can squeeze out some zRam if you overclock the rpi correctly, although I must admit I’m only going off what I can find off google!
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I’ve quite a specific question hopefully someone can answer!
I have an rpi set up to run my single avalon 741 miner - could I also plug in a Moonlander 2 usb miner into the rpi and use that to power it?
If so, it would be great to dual mine!
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Would you consider shipping to the uk? I’d be interested in buying 2
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Dang - just had the customs charge through - £140 :-/
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What have minerwares had to say to the people who recieved dirty/used miners that should have been new? I am expecting a NEW miner in the next week (dispatched to the UK), but I will be pissed if it isn’t in new condition. Having bought from the USA and via PayPal there is some recourse that can happen. I just hope they are sorting out the issues for the people who have already recieved miners
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My s5 worked beautifully as a heater for the house! I’ve sold it recently and waiting on delivery for new Avalon 741, and the wife is complaining that she can’t get the clothes dry anymore without it!
Even on the heating front, I figure that saves on the gas/electricity costs that would usually be spent on heating the house. I live in the north of the uk so heating is needed at least 50% of the year. Electricity cost is higher per kWh, but I’m mining bitcoins for the log run
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I've not had problems with their reseller communications. They usually respond with the day. I've only sent them two questions though using their sales@ address.
perfect - i didnt even know their sales @ email address, so i've just sent them something now!
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Does anyone have a contact email address for minerwarez? i've gone through he contact us page, but no response at all.
They automatically used an incorrect paypal email address, so i've received no communication on shipping despite asking them to get in touch with the correct email/phone number.
my order number is #1028, and shipping to the uk, so i'm hoping will be here soon!
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Thanks for the advice! Maybe someone has a raspberry pi to sell, plus a psu :-)
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Hello
recently ordered a 741 which i'm waiting to arrive, but coming from my S5 set-up, i dont have the PSU or knew that i needed the control unit!
Does anyone have either (preferably both) of these to sell? Or if a raspberry pi unit is better, happy to hear that also.
PS - as a newbie - is anything else required other than the 741, PSU and control unit?
delivered to the UK, nd can pay by paypal or BTC
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I've ordered one from the reseller, even if it is a little bit more expensive, I don't think they can be any worse that Canaan! Fingers crossed!
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With almost no availability of miners, i know you have to be quick to order direct from canaan or bitmain. But i'd like to know everyone's thoughts - when do you think the next batch will be made available?
Next week, next month? Beginning of 2018 after they've caught up on all their current orders?
How frequently have the manufacturers released new batches for sale?
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Funny you should mention that, the last day or so I've been considering picking some up secondhand and working them up. I've got some S7 proper coming in courtesy of NotFuzzyWarm I'll be working up, but no source for S7-LN.
Which is a shame because a quiet undervolted S7-LN is actually a really good home miner.
I would be interested in an S7 Sidehack. If you do have any you are interested in selling, and could ship to the UK, drop me a message and hopefully we can come to an agreement!
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