you don't understand why a builder with 10% of the hash loses money by expanding to 15% of the hash you think he makes more money if he does that.
the problem is 4-6 guys all have 10 to 15% of the hash each. they all can build bp and then the other 4-6 guys match them.
So what hey have been doing is swapping gear with out really expand hash by a ton.
they have s-3's at .75watts they have s-5s at .50watts now they have s-7s at .25watts
so they ⅓ their power so many think they will 3x their hash . if the top 6 builders all do this they all gain nothing and they spent money to make the gear.
so they try to ⅓ their power and 1.5x or 1.2x their hash.
if the top 6 builders do this. they keep the same share of the network and they spend less on power.
This is what has stopped the crazy growth the last year.
unless your gear is god like say .01 watts a gh and really cheap to build expansion of hash matching your efficiency gain is a loser economically.
so s-5 at .5 and s-7 at .25 for example does not pay to 2x the hash power
if the other builders can match you. but if antminer ½ the power and 1.25x the hash and are matched by the other builders antminer makes more money.
this is very simple math.
I believe there are several errors in your analysis. You have assumed everyone pays a similar amount for their miners, has similar costs and does not try to drive others out of business. 1) Not all miners pay the same for their miners. The mining hardware with the highest efficiency is not likely to be sold to the public. It is more economic for the manufacturer to keep it to themselves and mine themselves. This is what KNC and Bitfury do. They manufacture their own cheap hardware and do not sell to to the public. It is in their interest to increase their hash rate as it increases their profits. 2) For similar reasons miners in areas with the cheapest electricity will try to maximize their hash rates. Anyone who pays more than about $0.05 per kWh is likely to be ultimately driven out of the mining business. 3) Finally you have assumed people would co-operate if they all had the same costs. But people are not always that rational in an unregulated market. See the Tragedy of the Commons. https://en.wikipedia.org/wiki/Tragedy_of_the_commonsThe entire mining game is a zero sum game. There is only a fixed amount of money available from Bitcoin mining. The best way to maximize your profits is to not share your competitive advantage and to keep your costs below your competitors. Ideally you would like most of your competitors to give up and leave the market. So I expect the battle between the miners to continue and the hash rate to continue to increase for some time yet. With keeping the company needs to build a data center. These are not cheap for miners. The cooling system is much more then standard server data center. So there is some big costs of keeping them only. Also if they can make decent sales to public it brings down price to produce and the company could keep miners even cheaper. So I still see advantages to selling to public as long as they make profit. |
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I think my S5+ controller has now died. I've operated dozens of S5's for a LONG time. This is the first time I've run into this issue with a controller. I even took special care with my S5+ to make sure it was run in an extra cool environment. Very disappointing.
That is not good to hear :/. Good thing is they should have them as S7 appears to use same controller. I still have had no issues. I do keep have a decent amount of CFM from fan's pushing air through my miners. Not sure if that is making any difference but I like it and it's made my other miners make it through summer mining. Is it possible to just order a new controller? Seems like that would be cheaper than waiting weeks for a response to my RMA request, mailing this monster away, and then waiting god knows how long to get a new one. I think it depends on who you talk to. On S3's they originally would sell them straight out, but later made it where you had to do a RMA. On this it was since they were able to fix most of them, and sell again. But it's worth a shot to ask. Just tell them you want to buy and not mess with. If they do it would be quicker and no having to ship old controller out. |
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Ready to make a move to buy mining equipment. Is Bitmain the most efficient equipement out there?
The most efficient curently being sold to the general public is the S7. So yes BM. It ships like somewhere between the 20th and 30th. So we are getting close. |
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Well since you have grey hair for over 20 years you know that we don't live in a fair world: I see dogie as having +40 trust rating and he is complaining that he is not being paid as he should be. Not a fair world at all. Spondoolies did not pay me 0.12 BTC which they promised to pay me in November last year.  What then to speak of even greater amounts. But since you announced here a long time ago , that Guy Is Your Friend , then your opinion is not particularly reliable. Don't know the reason we've missed it. PM your order number and address. Welcome back! Any word you can tell us on next gen?  Will regular customer be able to buy? I'm still hoping so! |
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Thanks for all your replies, guys. Actually I didn't know that there is "a paid signature" option here. Maybe I should consider this sometime...
And of course I will try to make my posts more substantial in the future )
If you do a signature you will be put to a even higher post quality level. If you got banned without a signature then if you do anything like it and get a signature you will be banned again. Putting a signature on like adding a target to your posts, for others to check them. If they are oneliners or bad posts they normally catch it pretty quick. So I would work on post quality for a bit before looking into signature campaigns. |
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With the new chip of bitfury at 0.06 w/gh and the fact that the CEO said he want to reach HEXAHASH, I dont know if I will buy a S7.  "BitFury has announced it has completed the tape-out for its 16NM ASIC bitcoin mining chips, which were first revealed to be in production in February." The way I see this is: They won't start producing the chips before february. Unless the above statement actually implies starting production earlier. Either way they will probably need a couple of months to test the product before selling it to the public (read: Mining companies). The fact that this statement came right after Bitmain's release of the S7, makes me think they are trying to influence S7 sales by making the decision to buy one harder. (Uncertainty around future difficulty increase). In the end, the difficulty is the number 1 factor to if you're going to get ROI or not. <- And the excitement around diff is whats keeps me mining, its fun and makes following the community a lot more fun. If you are looking for this kind of excitement, you should buy one. If not, buy coins instead  Btw, my grammar is horrible!  They no doubt are releasing it trying to get some large clients to wait. The efficiency difference is pretty big. So we will see if they release more or not. I think they will remain a little quiet until as bitmain pumps out a lot fo S7's. As far as them reachig a exahash I don't see it anytime soon. I want to reach a exahash... but I will never get it. So saying he want's it is not commuting to it. But big thing is look at difficulty ... it still is going up. 2 decent changes in a row. |
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Yes, this is obvious. But what does it mean if you get direct EU warranty? Good question I was not aware of EU warranty center. But I'm sure they would make lots of EU happy if they had this.
I only heard some rumors about a EU office but got no verification, so this is interesting... BTW: In the past I have offered to help them with EU based warranty stuff as we have done for rockminer. Most EU warranty and distribution was handled by us. You will need to email bitmain on this on. I do not know of one or heard of anyone using one. So either they made a slip of togune, or possibly we will see one sometime put in EU. But you will need to ask BM direct as none of us are going to know this. |
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+5% and right now +7% ouch that's hard! I think some machines are kicking on. I was afraid of this. Last week was high and not fun for us. Now this possibly even higher looks like someone is making something. I wonder if it truly is S7's if so they sure know how to make the units quickly. |
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.......... Today at 14:07 Hi Tupsu.... Sorry to hear that. I hate to do this but I have to send you to info@bitmaintech.com as your Order ID does not qualify for the local EU warranty. I see the good temperature and right frequency with 1 missing "o" and 1 "x". ..................... Today at 14:16 What does this mean? your Order ID does not qualify for the local EU warranty. I ordered straight from bitmaintech.com site and live in EU. Estonia. Order ID: 001201508141137587748nU65cmY0690 BITMAIN Order Shipped Order ID: 001201508141137587748nU65cmY0690 Date: 2015-08-14 11:38:00 Total: 18.958 BTC Payment method: Bitcoin Payment Then who is at all qualified for local EU warranty? And what does this mean? Good question I was not aware of EU warranty center. But I'm sure they would make lots of EU happy if they had this. But the anwser is that means he has to deal with China warranty I believe. So it's dealing with shipping there most likely. |
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I think my S5+ controller has now died. I've operated dozens of S5's for a LONG time. This is the first time I've run into this issue with a controller. I even took special care with my S5+ to make sure it was run in an extra cool environment. Very disappointing.
That is not good to hear :/. Good thing is they should have them as S7 appears to use same controller. I still have had no issues. I do keep have a decent amount of CFM from fan's pushing air through my miners. Not sure if that is making any difference but I like it and it's made my other miners make it through summer mining. |
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I have a question for anyone who can answer this...
I see that Bitmain is about start shipping the S7. It is saying selling for almost 2k and it says that it does 4860 GH/s. Granted, it is twice as energy efficient as the S5, but is it really worth the price consider that the S5 is 1/4th the price? What do you think? How can you justify the price? Thanks.
I will say i still feel good about my S5+ purchase. I wanted to use my 240... it gave me that. I wanted to condense gear it gave me that. I sold my S4's, my C1, and part C1. So I view it as kinda upgrading my older gear for winter. And my older gear I'm sure went to lower priced electricity places so works out good. I have had no issues and love my S5+. Now the S7 i do love it's efficiency BM did master the 28 nm no doubt. If it's worth it..... only way to know is if we start seeing them ROI. That is honestly only way to know. Will it do it.... we will see. |
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Exactly this! If it sounds to good to be true, it probably is. So chances are you will probably end up screwed. I have bought once some Microsoft Office keys. There was a huge discount. They worked for a week and that was it.
Lesson learned. After this, I barely ever visit this section. You do increase, our chances not to get screwed if you buy from accounts with good trust rating, but these accounts are not in majority in this section.
Yes, that is the general rule of thumb for buying digital goods. However, just because you think a product is worth $XX amount of money doesn't mean that it is. Many sellers often get their goods for extremely cheap in ways that aren't really illegal, but are just not very known. Then, they can afford to sell them for $X. I don't know if I would agree with this. Look at accounts in digital section. Specifically services like netflix, etc. There is NO POSSIBLE way they are able to get at prices listed for some unknown magic cheap buying method. A lot of the accounts for services specifically are gotten in not legal ways, in my view. But buyers do know this when getting at those extremely low price. |
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To follow up if you see the errors drift upwards to 0.4 vs .04 there could be other issues.
to think of it another way for every 1000 usd earned your error rate costs you .40 cents usd
if it drifts to 0.4 for every 1000 usd earned you would lose 4 usd.
Getting the replacement blade is more important.
If you could also please let us know how the RMA process goes for you. One other person said it was kinda painful. I am hoping to see if they got bad luck, or what your experience is like on S5+ RMA. |
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I tried to buy and put shipping location to my friend in mainland china and bring it to me, but the price S7 will be taxed 17% and I asked bitmain about that, they told me its VAT tax 17%..HUHHH?
My china friend told me, its not actually VAT tax, its just every export company is encourage by the China's government to export and get 17% tax refund. So if i select shipping to mainland china, then bitmain still charge 17%, bitmain doesnt wanna lose that 17% tax refund.
No wonder Bitmain doesnt want downgrade the value of the invoice, that company is looking for 17% value of the invoice tax refund....moree and more profit for bitmain hehh....
So where to buy Antminer for local china customer??? i dont think they will buy online directly from bitmain website...
There is a 17% tax (sales tax more so than VAT AFAIK) in China and your miner is not getting exported so Bitmain won't get a refund for that. Where exactly do you see a problem? They have had this tax for a little while now. I think they were lucky they ran without this for as long as they did. If you think about it they ran for a LONG time without this tax. I do agree it would not be fun for the customer to pay. Taxes and shipping are never fun. |
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Have owned and operated a variety of businesses during my 60 years on the planet.
I've found that if a business is operated with a good moral/ethical compass it flourishes.
Those that don't, don't.
BTW, emailed BM about initially purchasing 1K of BM1385's.
Now waiting in "hot standby" for their response.
Would REALLY like to "pull the trigger" on this ASAP.
So, BM if your reading this let's get this vehicle shifted into high gear and get this done.
I hope BM gives you an anwser. I feel they could support more. I really love this project specifically. Sidehack and GekkoScience is a great thing a miner made by someone who cares about miners. I have had a review stick and it's still working great. I am wanting to get a Y adapter on usb to try to overclock it after seeing some of the amazing speeds it gets. But as of now I have it set up on a lotto setup. I cannot say how much I enjoyed this project reminding me of the good day's of mining with my stick miners. Truly was fun to do. I will try to get some pictures tomorrow nothing super special just a nice little situp with fan's cooling down my usb sticks. |
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8 - 22 - 2015 162 +18 8- 23 - 2015 138 - 6 so + 12 blocks for sat and sun 8- 24 - 2015 156 + 12 + 24 blocks for 3 days 8- 25 - 2015 133 - 11 + 13 blocks for 4 days. 8- 26 - 2015 160 + 16 +29 8- 27 - 2015 135 - 9 +20 8- 28 - 2015 156 +12 +32 8- 29 - 2015 163 +19 +51 8- 30 - 2015 151 +7 +58 8- 31 - 2015 157 +13 +71 9- 1 - 2015 154 +10 +81 9- 2 - 2015 154 +10 +91 9- 3 - 2015 149 + 5 +96 we have made 1972 blocks 'norm' = 1876 I get close to +5.12% https://bitcoinwisdom.com/bitcoin/difficulty (+5.20%) very close to my current number looks like 5+ is in the cards. Looks really hard to drop to 4.50% so I think we are getting the carry over 44 blocks to go! So here is to a 1 hour block or 2 or 3 or so. I am beginning to think you are the rainman of difficulty . Thank you for all the time you spend in these threads. I truly enjoy watching it through the week. Hopefully next period is less. Guess we will see. |
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Sucks about the return hassle. I can understand that they have to protect themselves against people calling in false claims of broken parts to get spares, but if it arrives DOA they should really do better to help you out. I wonder if it is because they're really short on the S5+ chips and boards that they make you ship it back to them.
They were very specific on S5+'s they sent a paper with them and an email to account that ordered them. They basically said things that void warranty and made sure you use 3 PCIe per hashing board. So I suspect they have you to mail it in to verify all the things they said void warranty, and what damage is from. It is a business decision I'm sure. The biggest thing I was surprised was was he mentioned his looked like it ran a month. Mine came very clean and did not look dusty in any way. So not sure if he got unlucky or what happened. |
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A few signature campaigns have been on for over an year (maybe even two). Raise your own account up (Full Member only takes a few months, and it's worth it) and don't worry; the campaigns will all still be here.
Also, while you're raising your own account, you'll learn a lot of things along the way. Tip: no one likes a high-ranked member who doesn't know jack.
Ok I guess I'll get a head start in learning things on here then... What things should I know about btc, alt, bitcointalk, money making strategies, etc. that you think makes investing your time on Bitcointalk more worthwile? What I know as of right now: 1) There are tons of shit coins out there to try and pump and dump for profit. Only a couple are legit (Monero, LTC, and maybe etherum and a few others?) 2) Ponzi schemes seem to be the most popular scam on this forum for investments 3) Always use escrow when making big investment purchases or something with high value. 4) Signature campaigns is essentially the easiest way to earn a decent amount of BTC, rather than faucets. 5) Don't post shit comments with one word or one number responses. (thanks @notlist3d ) 6) Mining CPU or GPU isn't profitable any more Can't think of any more... would any body like to add on to my list? I have questions about: 1) Security of online wallets (i.e. Xapo, Circle, etc.) 2) Potential of 3 or 4 coins being heavily valued in the next 4-5 years 3) Necessity of running nodes and how to Thanks again for all the comments received so far! The trick is your posts have to reflect it. As of now if you look you have a lot of one liner posts. Things like guessing numbers. - https://bitcointalk.org/index.php?action=profile;u=547991;sa=showPosts;start=20If you can show in post's helping people with all above your account will look much better. Help people with topics like those and raise your account and you will more likely to be selected to be in a good sig campaign. |
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A few signature campaigns have been on for over an year (maybe even two). Raise your own account up (Full Member only takes a few months, and it's worth it) and don't worry; the campaigns will all still be here.
Also, while you're raising your own account, you'll learn a lot of things along the way. Tip: no one likes a high-ranked member who doesn't know jack.
Also I didnt think of should have mentioned the forum has a new version that has been under development for a while now. I believe bitcointalk has spent over a million dollars (if I remember right) on the next version of the forum. So for bitcointalk to put this kinda money into a new version, we can count on it being around a while. I think so at least. I don't see BTC going away anytime soon and this forum is the biggest forum for it. So Agree it's worth while raising your own acccount. |
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if you want to get mining without scam, rent a rig at rigrental You pay a premium with rentals though. Normally you will pay more then what the rig would have made if mining BTC. So not a good way if wanting BTC. As normally cost more then you make. The rig owners do it for profit greater then just mining BTC. |
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