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Looks like bitcoin is doing a wonderful job of correcting itself to the pre-willy/wally bot price manipulations. Going to be really interesting to see what happens to the mining rig manufacturers this year. I have a sneaking suspicion that we will be lucky if there are 2 or 3 reputable hardware manufacturers by the end of the year the way things are heading.
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Do you think 1.00 BTC will worth more than $10,000.00 USD at any time in 2015?
lmao...no |
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Far more than just mining killing BTC price atm. You think the fella that stole 5.5 million worth of BTC from bitstamp gives a rat's ass what he sells at? Or hashie.co, or any of the myriad other hack-jobs, HYIP ponzis and whatever other scams that are constantly going on in this space.
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All the best Ross, you got a long road ahead of you mate.
Fuck all the people here putting you down, you didn't push drugs, you helped people who wanted to score get them and that should not be a crime in my books, ok maybe you went a bit over the top with hiring the hitman (if true) but still a legend to many.
Try get a hold of a laptop or mobile while inside and tells us the truth, you still have a lot of support in the community.
Keep your spirits up!
lmao...I'm just wondering what kind of shuffling gait the inmate that managed to successfully keister a netbook into prison would look like. As for DPR's plight. I suspect he will have the proverbial book thrown at him to be sure. They will try and make an example out of him to dissuade potential future DPR's from taking his place. |
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Bitcoin protocol is far from dead. Current market price of Bitcoin is absolutely on the decline however and probably will be for sometime unfortunately. Our lady has surprised us before, let us hope she continues to amaze us!
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Wow, just look at that BTC difficulty start to plunge! Another day or two of this and I'll have to fire my nanofury back up :p
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Need to know what you suggest for a home mining set up. I got $8000 to invest. Cheers!  Avoid mining completely. If you really think bitcoin price will recover (questionable at this point imho), you should simply invest straight into BTC and HODL. Or you could just go to Vegas! |
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Alright so I'll do more research on that miner, and if nothing comes up I'll look into the ones you suggested. However I do not, and will not mine at a loss, then there is no point. Obviously there has to be profit to be made if people are still doing it, or do millions of people just want to throw their money away on bitcoins? Seems unlikely to me. That's what I'm asking, how do I mine so I can get a ROI? If you really have that amount of money, go for it, after that you can write here what was your success. You can even start your cloud mining site.
Why would I start a cloud mining site? There is no profit for the home to mid size mining operation. Even with your 36 TH/s and $0.07 kw/H costs, you're competing with the big boys that mine at "true scale". The Chinese that deploy multi-Pentahash at will, the miners in Washington state, the miners in Iceland that have natural cooling... It's been an arms race for awhile, and you're simply a pea shooter against tanks and fighter jets. What's exacerbates this is the extremely low BTC price, so you don't mine enough to even cover the electrical and cooling costs a month. Ignore what that user said above, there's no cloud mining operation that's profitable for the consumer or the provider. All cloud mining sites are ponzi schemes. Gotta agree with ChuckBuck on this one. The few legitimate cloud mining operations that are around (ie cex.io) are literally shutting down because electricity/maintenance costs literally exceed what their gear can generate. If it's a cloud mining operation, and still claims to be running, there is an 95+% chance it is a ponzi. |
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I run my home PC repair business on the side, though, and EVERY computer I work on gets checked for coin wallets. And if I ever find one, it's MINE! I just hope the owner didn't password protect it!
This is why you never bring your PC to a repair shop. Do you also steal any credit card details and financial info you find? what about nudes? you might as well, it's the same level of scum-iness. Precisely. You would be surprised just how many scummy timk255 like behavior you can find out there, and it's not just in the mom-and-pop computer repair shops either, even the larger chains have been known to pull this kind of crap (geeksquad for example) |
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Bitcoin has failed. Abandon ship!
Says the man with 56 posts! |
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Btc price falling is because people are selling off their btc to cover costs / pay utility bills / purchase new equipment etc. Difficulty increasing is because there is more hardware being produced and mining now than ever before which is increasing in number by the day as hardware manufacturers mine with new equipment before its sold and shipped out. The hardware manufacturers are the only real winners in mining at the moment they can't go wrong.
Also very few people can afford to hold onto their btc.
Everyone forgets about the rich list http://bitcoinrichlist.com/top100 some pretty fuckin weird things going on there. Scroll down and check all the addresses with 10,000 to 50,000 coins with a last activity of september 6th. 50+ wallets! The top 100 accounts for 20% of total bitcoin supply and more than 50% (probably closer to 75-90%) of that belongs to one person. One person with the initials MK more than likely :/ |
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I have a 10 GH miner and it can hardly mine anything. You would make 0.00037123BTC per day with 30 GH.
Yup, for about the next 2 days, then you can reduce that figure by approximately 7-8%. |
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My recommendation: avoid it.
For the amount of money your talking about I'm assuming you don't have anything in the way of redundant internet, power generator backup, etc.
Should your power or internet ever go out suddenly he's going to end up feeling like he's getting jipped unless your willing to eat his losses (or worse yet, scammed by you if he has no way to verify your telling the truth)
*for the type of potential profit your talking about here it just doesn't seem worth the potential headaches to me. Noise, heat, dust, etc.
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It seems Antminer and Spondoolies are still too high. BTC price is down, difficulty is up.... is having a bitcoin mining hobby that much fun that it keeps the price so high???
One very simple reason: Because people are obviously still willing to pay. I suspect the majority of home-users purchasing any kind of equipment for mining are more than likely relatively new to bitcoin. |
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I would recommend simple holding what you have. Most of the alt's are nothing but pump-and-dump scheme's and if you choose to participate in them you may get lucky...but more than likely not.
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100% withdraw existing balance to stick those bad-boys into cold-storage.
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When is Jesus Christ coming back, BitChick? When is Judgment Day?
If the angels don't even know, how am I supposed to?  It is wise to be ready at all times. Okay. Cool. Jesus loves Bitcoin. He loves gambling. I read it in the Bible. Jesus was able to "mine" a coin from a fish. I think he would have liked Bitcoin. But is Bitcoin really a true gamble? I tend to think that I have found great treasure in a field and I am selling what I have to purchase it. That is considered wise and not foolish. (Mathew 13:44) Algorithm: PoM (Proof-of-Miracle) |
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Buying mining hardware at this stage of the game is pretty much a suckers bet.
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Your electric is a little bit higher than mine here in Oregon. Thus far I haven't ROI'd on a single piece of mining equipment so my advice would be to avoid mining altogether. Granted, your results probably won't be quite as bad as mine as a large # of the more bogus asic manufacturers are getting shaken out everyday but I seriously doubt you'll get out of it what you put in at this point regardless of who you decide to go with.
Buy and Hold probably your best strategy honestly but that is also hella risky right now.
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Throwing $10,000 into mining hardware at this point in time is just crazy talk! If your really wanting to risk that kind of money your probably just better off buying and holding but even that is pretty risky at this point imho.
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