Problem is, when you get in on the first month or 2 they have a much higher price. Most seem to leverage the price just to keep you on the verge of thinking you'll make more than your investment back. The only value I can see with buying early is the resale value of your miner can still fetch you a decent return because people are still buying them. The price of Bitcoin factors in a great deal as well. But then, it might be just cheaper to buy coin than to mine it.
The pre-orders scare the crap out of me. I hate paying for something with no guarantee that it will be sent, and there are soooo many scams out there.
Higher price you are correct... Also probably correct in getting good at ebay to sell off your hardware. As for pre-orders yeah don't think I will ever go down that road. I have seen a pre-order for the Prospero X-3, 2TH/s for 6k, expected in may. In may if difficulty is at 75% per month (last 30 days ~73%), you will still be in the hole unless difficulty levels off or price goes up (Even more then today). It's such a crap shoot to figure out which was to go. I like the mining option because it's a learning experience and it's interesting to see it mine away. It's also seems to be less risk because there seems to be someone always willing to overpay for 1 on ebay. I can pick up an antminer S1 locally for $1100 CDN, so about $992 USD. Of course then you need to add a psu ($100 cdn) But it's tricky to see what the roi is because the mining calculators vary so much. I guess in the end its all a crap shoot, and both carry risks. No risk, no reward I guess. |
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Really glad I moved my miners back to Bitminter a few days back. Blocks have been coming left, right, and center. I see we're pushing 401 Thps, I guess that has something to do with it?
Either way. Thanks to the Dr. for keeping it up and running smoothly.
Cheers!
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Not too sure about that, a quick Google search of that address comes up to a UPS Store, so it could easily be a PO box.
I have a UPS Store 'suite' address too. Nothing wrong with that, but for a business holding onto significant amounts of my cash/coins, it would be nice to see that its not just Mark Karpeles' twin brother in his mom's basement somewhere, checking the mailbox every other week  Agreed. I'm trying to zoom in with Google maps to see if they actually have an office in the strip mall, cant see anything yet, but it look like there is a 2nd floor in part of the mall that could contain a few offices. Then again, who knows how old the image is. Hey, anyone here live in Calgary that could do a drive by? LOL! I agree though, a store front does cost money. Are the high fee's a good thing overall though? Does it go straight into their pockets or does it strengthen the exchange down the road? |
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I cant believe that you guys are still using and trusting an exchange where everyone who works for the exchange uses fake names!
One day this will cost them their spot on top of Canada's bitcoin game.
Care to explain what you mean by that? I mean each and every rep for the company uses an alias. Do you really believe that the names they use are legit? Also, you cant find any info on Joseph David. No FB, Twitter, ect. It is only an alias, also the address they use is not a real office.. its a POBox. The "call center" they have is actually just some people who work from home probably in their underwear. I doubt Virtex will be top spot in 2 years from now. I have heard rumors about a new Canadian exchange backed my Canadian entrepreneurs who already have real world experience in the finance space and they are looking to drop a lot of money to build a trustworthy Canadian exchange. That's just my $0.02 I doubt FINTRAC would let them register as an MSB without identity proof, and their address seems more than just a PO Box: http://www10.fintrac-canafe.gc.ca/msb-esm/public/msbregistry/searchByName/clf-eng.html#msbInformation/msbDetails/135613Not too sure about that, a quick Google search of that address comes up to a UPS Store, so it could easily be a PO box, or it could be in the same complex. Looks to just be a regular strip mall though. |
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Apparently this is the cause of the market surge, inside info based on the following: http://newsbtc.com/2014/03/03/blockchain-info-ceo-nic-cary-big-news-dropping-tomorrow/Blockchain.info CEO Nic Cary: “Big News Dropping Tomorrow” Eric Calouro | March 3, 2014 | 1 Comment Nic Cary Exciting News Tweet That price spike we saw earlier today? There’s probably a good reason for it. Blockchain.info CEO Nic Cary sent out an interesting tweet Monday afternoon with some informaiton to get the bitcoin community’s hearts pumping a little harder: “This is going to be an exciting week,” he proclaimed. “Some big news dropping tomorrow”. Are your palms sweating yet? Of course, no indication on just what that good news is, but it’s most certainly a change of pace from these last few weeks. From bitcoin price drops to the horrifying news that Mt. Gox had lost millions in user funds (and subsequently filed for bankruptcy protection). We’re not going to speculate, but we’d imagine of Cary considers it “big news”, then it most likely is. Also of interest: Cary @-mentioned both the Bloomberg and Market Makers (a TV program on Bloomberg) Twitter accounts. What do you suspect is on the horizon? Looks like I messed up when I didn't buy last night for $620 CDN. With a few of the reports I read last night, I figured I could get in for below $600 when I woke up, now its hitting $715. Hopefully it will drop down to $700 or maybe I should just bite the bullet and jump in at $715. |
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What happens if your activity is upgraded in the middle of a period, will you receive .0003 per post if your signature is the normal size again?
Yours wont be, but I imagine you'll get paid for the posts you do under each like were getting the two different payments this term. Stunna said he might be changing the system at the end of the term anyway so we'll have to see what he comes up with. What is the activity level needed for a big signature again? I don't even know how to change the font size anyway... Perhaps the allowed signature styling should change with activity score / membergroup. Like: - Newbie: No styling (including links) allowed. Max 40 characters. - Jr. Member: Links allowed. Max 100 characters. - Member: Unlimited length. - Full: Color allowed. - Sr. Member: Size allowed - Hero: Background color allowed |
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None of the cards were in their slots either. Apparently they vibrate out during shipping, I call b.s. on that. They are just slapped together as far as I'm concerned.
If you look at the Cube, the cards are held in those slots by the bottom board. The bottom board is already sagging with the weight of the cards, so being dropped a few times between China and wherever you are, then the cards are obviously going to fall out. I have to admit when I took it apart, I didn't really pay that close attention to that part. I was so much more concerned about sliding it out and back in without dropping or breaking anything. You would think they could have come up with a better way to support the bottom board. |
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While your equipment sits there you have others who are in the same boat looking to get into the BTC world of mining, You also have the 1s already hooked, both buying equipment, meaning your shares will get less and less, the ROI gets further away. 3 months goes to 6 months, 6 to 12..... Your now in the 2nd category and look to either reinvest the BTC you have made or spend more money to keep up.
The BTC circle of life begins!
Such is the life of a miner it seems... Heck looks like you pretty much are screwed unless you get in on first month or 2 when a device is available... which then can lead to having to "pre-order" and hope for a timely hardware release. Hey live and learn. Problem is, when you get in on the first month or 2 they have a much higher price. Most seem to leverage the price just to keep you on the verge of thinking you'll make more than your investment back. The only value I can see with buying early is the resale value of your miner can still fetch you a decent return because people are still buying them. The price of Bitcoin factors in a great deal as well. But then, it might be just cheaper to buy coin than to mine it. The pre-orders scare the crap out of me. I hate paying for something with no guarantee that it will be sent, and there are soooo many scams out there. |
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I feel like such an idiot. Anyway, the above program has been promoted in bitcoin chat rooms/channels and some websites. If you downloaded it assume you have a remote backdoor and keylogger on your system. Remove it with Anti-Malware program.
On windows 7 it creates many msdcsc.exe processes and is difficult to remove. They don't appear for a few days to stop arousing suspicion, and only appear after you have done a reboot.
A full virus scan, anti-malware scan is recommended. I haven't lost any bitcoin because my private keys are on an offline linux machine, but I'm going to change all my bitcoin related passwords and reinstall my system. PITA.
Did I mention I feel like an idiot? I'm usually very careful with these kinds of things.
I wouldn't feel like too much on an idiot, especially if you didn't lose anything. I'm insanely careful myself with stuff like that, but it's almost impossible to keep guard up 24/7. I try to do a Google search of pretty much anything I download, but even the other day I slipped up and ended up with a virus. It can happen to the best of us. Thanks for the heads up though! |
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Have you tried taking your cube apart, tightening all heatsink screws and inspected for missing/broken parts? You can't just take these devices out of the box and plug them in. The quality control is horrible and I've never had one that wasn't pretty much in pieces when it arrived...  I had the same experience. I opened the box and a couple screw fell on the floor. None of the cards were in their slots either. Apparently they vibrate out during shipping, I call b.s. on that. They are just slapped together as far as I'm concerned. Im using a corsair CX500to power my cube without issues. I hear that it doesn't work for some cubes. I wonder if that has to do with the power source feeding the PSU? I know a lot of electronics that don't work nearly as well with an extension cord, or when there are multiple splitters on an outlet. I wonder if the psu's work the same? I keep mine plugged into a power bar plugged into the wall, nothing else runs of the power bar or the outlet. |
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Yes I do, a person would have to be really naive to believe that we are the only habituated planet in the universe. I'm pretty sure they have already been here as well. Some of the stuff on Earth can't really be explained. I'm sure they are a huge part of our history and we just don't realize it.
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Very nice, would be nice to have an option to put in the price of our mining hardware.
Either way, if I'm reading it correctly, you'll never come close to breaking even with an Antminer s1?
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Considering jumping into mining with 2 S1 Dual blades.. https://minersource.net/products/bitmain-s1-dual-blade-180gh-400w-asic-miner-1-2From reading it sounds like PSU modification is generally needed, but this includes what looks to be a already modified PSU... These seem to be a decent small starting kit available now (no pre-order etc). Though most mining cals say I will break even in 3mo, which sounds extremely reasonable... am I missing something? So its 3.10 BTC for 2 miners and a psu. You can by the miners straight from bitmain for 1.37 BTC each, so 2.74 for both. So you're paying .36 BTC for the PSU. At current prices, thats about $200 bucks USD for a PSU that won't run 2 cubes overclocked. Here is the bitmain link: https://www.bitmaintech.com/productDetail.htm?pid=00020140107162747992Ce5uBuxW06D6They ship really fast from what I've heard from people. As for break even and what you're missing. The difficulty keeps going up so you make less every diffacult increase. I'm pretty the mining calcs don't that into affect. Hopefully someone else can comment on the last part. I'm not 100% if thats the case. You can purchase them direct from bitmain but do they tell you exactly when they will ship it or provide tracking in a timely manner? Some calcs do take into account for difficulty increase and from the first few batches of S1's 3 months is about the time it takes. I honestly don't know if they do, but I've never read a negative review and from everything I see they ship out really fast. I may have to buy one to see as people are paying ridiculous prices for them on ebay. Good to see that some calcs take the rising difficulty into account. I've always been cautious of the calcs numbers because of the rise in difficulty. Which ones do for sure? read up on how they just fucked me. I got doa gear from sushi-review which is the left hand of bitmaintech. this link is the start of my doa gear https://bitcointalk.org/index.php?topic=448425.msg5440105#msg5440105Well shit, I'm gonna have to think twice about buying from Bitmain. Everything seemed legit from them until very recently. Hope they fix your issue, that sucks. I have found an ebay seller very local to me, so I think I'll look into that option. I'd be paying a little extra, but he guarantee's they work. |
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Considering jumping into mining with 2 S1 Dual blades.. https://minersource.net/products/bitmain-s1-dual-blade-180gh-400w-asic-miner-1-2From reading it sounds like PSU modification is generally needed, but this includes what looks to be a already modified PSU... These seem to be a decent small starting kit available now (no pre-order etc). Though most mining cals say I will break even in 3mo, which sounds extremely reasonable... am I missing something? So its 3.10 BTC for 2 miners and a psu. You can by the miners straight from bitmain for 1.37 BTC each, so 2.74 for both. So you're paying .36 BTC for the PSU. At current prices, thats about $200 bucks USD for a PSU that won't run 2 cubes overclocked. Here is the bitmain link: https://www.bitmaintech.com/productDetail.htm?pid=00020140107162747992Ce5uBuxW06D6They ship really fast from what I've heard from people. As for break even and what you're missing. The difficulty keeps going up so you make less every diffacult increase. I'm pretty the mining calcs don't that into affect. Hopefully someone else can comment on the last part. I'm not 100% if thats the case. You can purchase them direct from bitmain but do they tell you exactly when they will ship it or provide tracking in a timely manner? Some calcs do take into account for difficulty increase and from the first few batches of S1's 3 months is about the time it takes. I honestly don't know if they do, but I've never read a negative review and from everything I see they ship out really fast. I may have to buy one to see as people are paying ridiculous prices for them on ebay. Good to see that some calcs take the rising difficulty into account. I've always been cautious of the calcs numbers because of the rise in difficulty. Which ones do for sure? |
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Considering jumping into mining with 2 S1 Dual blades.. https://minersource.net/products/bitmain-s1-dual-blade-180gh-400w-asic-miner-1-2From reading it sounds like PSU modification is generally needed, but this includes what looks to be a already modified PSU... These seem to be a decent small starting kit available now (no pre-order etc). Though most mining cals say I will break even in 3mo, which sounds extremely reasonable... am I missing something? So its 3.10 BTC for 2 miners and a psu. You can by the miners straight from bitmain for 1.37 BTC each, so 2.74 for both. So you're paying .36 BTC for the PSU. At current prices, thats about $200 bucks USD for a PSU that won't run 2 cubes overclocked. Here is the bitmain link: https://www.bitmaintech.com/productDetail.htm?pid=00020140107162747992Ce5uBuxW06D6They ship really fast from what I've heard from people. As for break even and what you're missing. The difficulty keeps going up so you make less every diffacult increase. I'm pretty the mining calcs don't that into affect. Hopefully someone else can comment on the last part. I'm not 100% if thats the case. |
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Wondering if i should buy in at $620 Canadian (560 USD) or if should wait to see if it goes back down?
funny you should mention that here's an indicator that should show your 560usd to be a safe bet Coinbase is a very conservative exchanges, usually their rates are generally below the market for selling and above the market for buying, in addition to that their fee is 1% (100 - 150% higher than the rest of the market). Right now their buy and sell rates are both higher than the market, $575. To me that is a great indication that rates are very much expected to rise, I just don't know why. If you had a Coinbase account (I'll send you an invite if you like they give us both $5 if you do a trade of $100 or more) you could buy at wherever you now shop $560 btc then immediately sell it on Coinbase for 574 right now (assuming you can still it it at the rate you mentioned). Thanks for the offer, but I have my money in VirtEx and i think that I'll keep it on there. Moving it around just sounds expensive with fee's. Right now the sells are running from $620 to $630 or so. There fee's are 1.5%, I guess thats high? I'm completely new to this portion of Bitcoin. I'm just trying to figure out what the right move is. Pretty sure I'm just over thinking this. I just have the drop to $400ish still in the back of my head. Wondering if it could drop to that again or worse? Would rather buy in as low as possible. I don't see $400 anytime soon, you will need some pretty bad news to justify further negative movement below the current floor of $550. the 1.5% is very high but it scales down dramatically so it's cool for the avg investor and good for the heavy traffic guy. All of those other fees are kinda crazy. I was really shocked at all of what you must give them in terms of financial and personal info to have a verified account. I saw a btc ATM located in toronto which took your palm print to get btc have you had the opportunity to use a btc atm? When you say all those other fee's, what are you refering to? I don't want to be overlooking something. The verification wasn't all that bad. I just scanned my id and sent them a copy of a cable bill for verification. Didn't have to give them anything more at this point for the amount I have on there. There is an atm in Vancouver, about 2 hours from where I am. I'm sure that would have been an easier option to get $ into BTC, but I like to make life difficult for myself sometimes, LOL! |
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I have a question that I'm hoping someone can help me with? I'm trying to figure it out myself, but I'm just getting more confused.
I mined for a couple days and made some coins. (ASC, BCX, BET, DEM, FFC, TGC, TRC, UNO, and XJO)
Am I better off trading these into BTC and LTC or hold on to them?
Would I get more if BTC was worth more than it is now?
Thanks for the help in advance.
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Wondering if i should buy in at $620 Canadian (560 USD) or if should wait to see if it goes back down?
funny you should mention that here's an indicator that should show your 560usd to be a safe bet Coinbase is a very conservative exchanges, usually their rates are generally below the market for selling and above the market for buying, in addition to that their fee is 1% (100 - 150% higher than the rest of the market). Right now their buy and sell rates are both higher than the market, $575. To me that is a great indication that rates are very much expected to rise, I just don't know why. If you had a Coinbase account (I'll send you an invite if you like they give us both $5 if you do a trade of $100 or more) you could buy at wherever you now shop $560 btc then immediately sell it on Coinbase for 574 right now (assuming you can still it it at the rate you mentioned). Thanks for the offer, but I have my money in VirtEx and i think that I'll keep it on there. Moving it around just sounds expensive with fee's. Right now the sells are running from $620 to $630 or so. There fee's are 1.5%, I guess thats high? I'm completely new to this portion of Bitcoin. I'm just trying to figure out what the right move is. Pretty sure I'm just over thinking this. I just have the drop to $400ish still in the back of my head. Wondering if it could drop to that again or worse? Would rather buy in as low as possible. |
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Wondering if i should buy in at $620 Canadian (560 USD) or if should wait to see if it goes back down?
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Hey there,
Started mining around a week ago for fun and to see if I could figure it out.
I picked up 10 of the 300MH/s for $15 bucks each a few days ago. Now I'm looking into the antminers, whats good price for them?
I'm in Vancouver Canada. I see them going for upwards of $150 bucks and more.
The seller had a deal for $49 each a few days ago. I wouldn't buy one for more than $60. Not that you'll probably ever get ROI on them, fwiw. Which seller? I'm not really worried about making enough to cover the cost of them if I can find them cheap enough. I'm pretty sure i could turn around and sell the ones I bought for $15 each for more than I paid for them. I plan on doing the same with the antminers eventually, if i can find 10 or 20 cheap enough. I can't see them worth more than 20cents, see: http://bitcoinwisdom.com/bitcoin/calculatorparameters from top to bottom: 20, 0.2, 2, 0.3, 0.2, 0, 2.5 - rest as default . You can see they break even in 49 days, after which the electricity cost is more than income. 20 cents a kw/h? Wow, that's pricey. I'm on 2 level system where we pay 6.9 cents a kw/h for the first level and then 10.3 cent a kw/h for everything over level 1. I ended up ditching the usb stick idea. I found them far to finicky and they required way too much of my attention. I managed to sell the saphire ones for what I paid for them and got a cube off of ebay relatively cheap. I just check on it once a day and that's it. It's filled my mining urge so now I'm just buying into coin. Have you checked out the Hashrate store? They're based in Canada and have a pretty good price on my 2GH/s Yellowjacket USB miners, which are a lot more power efficient than the Antminers since they're based on the Bitfury chip. I've ordered some through Jones Gear but they're sold out, atm. Looks like they were last selling them for $53.
Minersource.net says they have U1 Antminers in stock now for $32 (0.0587 BTC currently). Not sure what your shipping would cost to Canada but they do ship international.
Thanks for the links, much appreciated. I'm pretty much done with the mining option. Still gonna keep an eye out for good deals though. Think I may pick up a few antminer s1 out of bitmain just to resell them. People are paying ridiculous prices for them on ebay. |
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