Interesting info: it looks like new Spond machine will be ~0.25w/GH. An easy calculation from the numbers below see from this: The new mining facility is expected to handle more than 10 megawatts of power and up to 40,000 TH/s (terrahash per second) of mining hardware for “transaction verification” operations. (That means bitcoin mining, but with a crisp business-like aura.) https://bitcoinmagazine.com/20191/bitcoin-shop-btcs-merge-spondoolies-tech-create-publicly-traded-bitcoin-mining-company/Spond did send info email about it. Perhaps, they will make contracts to use this equipment at BTCS/Spond facility on a contractual basis, otherwise I don't see a point of individually informing current customers. I see how this thought originated. At 0.25w/GH mining profitability is very good as long as difficulty is about flat. 40Ph will be 12% of the current network, hence they will produce ~100K/day or 30-40 mil/year without adjusting for possible rising difficulty. it is the same calculation that made KnC to do essentially the same. I guess, Bitfury knew this from the very beginning. |
|
|
|
Good luck to Spond; I believe that they will need it.
A thought occured to me: everybody (Spond, Bitfury, KnC) want to call themselves transaction validators, however, I surmise (without marketing research behind this statement) that thousands of miners are the driving force of transactions because they do transact with bitcoin that they mine and use it for other means.
If "small" miners disappear, only to be replaced by four large companies (Bitfury, KNC, Bitmain and Spond), then whose transactions these four will be processing?
Between each other?
They will basically diminish the interest of those who are most interested now and replace it with WHAT? Marketing?
If at the end of the day bitcoin is just another debit/credit card and these four are processors, why would I need that? I have a bunch of plastic already.
While centralization is not a good thing, it's inevitable and those small miners pushing and pushing, and paying premiums for the next big thing drove themselves out of the market... If you and I use Bitcoin and neither of us mine we need miners to validate those transactions, how much control a single entity has on a given percentage of the network is the concern, if it's a handful of companies it does raise the risk if there is a hint of collusion between those companies.. The above tells me you want a free market but not the inevitable consequences of that free market.. well, once there are ONLY four companies, it's not a free market anymore, more like oligopoly. Regarding it being inevitable, I am not aware of such economic law. Personally, I would very much prefer a more distributed system. My main point was not about centralization per se, but about a supposition that once small miners are driven out, 4 big ones will have little transactions to process, unless they do it mostly between each other, which would be artificial, of course. |
|
|
|
|
Good luck to Spond; I believe that they will need it.
A thought occured to me: everybody (Spond, Bitfury, KnC) want to call themselves transaction validators, however, I surmise (without marketing research behind this statement) that thousands of miners are the driving force of transactions because they do transact with bitcoin that they mine and use it for means other than mining.
If "small" miners disappear, only to be replaced by four large companies (Bitfury, KNC, Bitmain and Spond), then whose transactions these four will be processing?
Between each other?
They will basically diminish the interest of those who are most interested now and replace it with WHAT? Marketing?
If at the end of the day bitcoin is just another debit/credit card and these four are processors, why would I need that? I have a bunch of plastic already.
|
|
|
|
My next rig has to be Spondoolies.
Used? Or are you seriously looking to be a B2B customer and their newer offerings? I was thinking used product as well as new. However, after looking at the SP-T announcement today, that sure adds a big wrinkle to BTC things. where to look for the sp-t announcement? link please here http://www.spondoolies-tech.com/blogs/newsbasically a merger with an OTC stock company |
|
|
|
If it's genuine, sure, it's bullish
After yesterday's events on BTC-e I can honestly say I have no idea what is genuine or not at the moment.
Could both events be linked? And both an attempt to trigger a short squeeze?
Too cynical? Or just wary?!
Either way, about the only things the bears have in their favour at the moment is that the squeeze has not triggered ... yet. If it does ... BOOM !!
If it's a co-ordinated pump there is certainly serious intent behind it.
Interesting coincidence that the buying was on the most illiquid platform, seemingly designed for maximum impact/uncertainty, and this bid is in what will likely be an illiquid instrument, that is *possibly* not tradeable at the moment ... hmmmm ... Bitcoin!!
my read is the owners of bitcoin associated with GBTC are buying bitcoin on exchanges for $215-226 while preparing to dispose of it on OTC. As a result, they will have the same # of bitcoins and lock in a tax loss. Since bitcoin and GBTC are technically different entities, wash sale rule is probably not applicable. From a point of view of brokers-I have no idea what compels them to bid at a 36% premium. |
|
|
|
A bid for 5000 btc worth of shares at 350
That's really interesting. I suppose bidders are required to have 100% USD on OTC Markets? As GBTC is simply a 1/10 of a bitcoin held for more than 1 year, if such bid ($350) persists, it would indicate a 36% premium. Reason? i don't think that it will stand for long. |
|
|
|
|
Come on, all these bids are simply faking by brokers. They do it all the time. Try to hit a large bid on nasdaq and it disappears after giving you 100 shares.
|
|
|
|
|
Interesting...just a LOI for now, though. It is also not clear from the release how the equity will be split.
Is Bitcoinshop the only public bitcoin company at the moment, apart from GBTC etf?
My take is this: if the combined entity will recapitalize and move to Nasdaq-it will be super positive for everyone.
On OTC in a penny land-not so exciting as most companies linger in a penny state forever.
On the technical side: dual use machines?
|
|
|
|
If someone can find a fan adapter that lets you still use the PWM feature and power it from the PSU that's what I'm looking for. Even if it's just one single cable with a 4 pin molex connector on it. I've been searching online and can't find such product. Lacking search skills these days.
I am not sure that this is even possible as you described it. S5 controller is what uses PWM feature. If you power the fan directly from PSU, you are bypassing the controller, hence a constant (maximum) speed. The only thing that can mimic PWM is a voltage controller, whereas you supply less than 12 v to the fan, like the one below or something similar: http://www.amazon.com/Zalman-Fan-Speed-Controller-FANMATE-2/dp/B000292DO0/ref=sr_1_4?ie=UTF8&qid=1430179287&sr=8-4&keywords=fan+voltage+controller. |
|
|
|
How much would you knock off the selling price if you removed the modded fans and put back the factory stock fan?
PMed |
|
|
|
isn't the real bitcoiner is someone who buy & use bitcoin as currency  If only buy bitcoin, there are plenty investor who did it already  But, they will dump it when bitcoin price raise up i don't mind using bitcoin directly when I can buy a $15mil mansion in LA for ~150 bitcoins. the taxes on that house would be at least $150K/year in LA in Texas RE tax is almost 3%, so for a 15mil house it would be $400-450K/year, not that there are many houses that cost this much here. You can still buy a 2800-3000 sq ft house in the middle of the city (Houston), not 30 miles away, for ~$500K |
|
|
|
Do you still have the original fan(s)?
Yes, of course |
|
|
|
Site is up now!  is bitmain's web site down?
isitdown.com and downforeveryoneorjustme.com both say that bitmaintech.com is down maybe it depends on provider or US location? I have comcast in TX |
|
|
|
Thanks, but naw. My ethics don't permit me to get food from clubs I don't participate with. I didn't even get the free pizza from random presentations and stuff while I was in college. As with everything else, I prefer to pay my way. Friday Cheeseburgers are a Waffle House $2 special, but our Tuesday sandwich time at Waffle House came from me feeling bad about only showing up on discount days so I would get lunch there at full price another time during the week to help make up for it.
Also, two hours after the last time I ate a McDonalds cheeseburger...
It depends on location. I had an amazing delicious burger at San Fran Burger King once, but I almost never eat at this place since it is typically not that good. In Houston, Jerry Built burger is very tasty, but it is a somewhat better joint. The bottom line is that with beef prices going up 50% in the last 12 mo, McDonald's probably could not keep up using better parts, hence who knows what is in there. |
|
|
|
|
is bitmain's web site down?
|
|
|
|
|
Bumping with asking price lowered to $440.
Remember that this is a modded S5 with two quieter PWM fans (typically rotating at 2880-2760 rpm ea, hence producing less noise)-this is a main attraction.
This S5 Miner can mine at least at ~1180GH (362.5 setting)
|
|
|
|
I think that there is an avatar signature campaign.
I am still not sure that all these signature deals are worth doing.
That Bit-X is everywhere and is somewhat of a distraction
Huh? Avatars and signatures are completely different things. Avatars were disabled for a long time on the forum because there was a hack in the code that was being exploited. They got turned back on again a few weeks ago and we were able to setup avatars again. No biggie. Anyone can do it, got to your profile and then forum profile information, and from there there is a link to set your avatar if you want to. I think that you are incorrect. There is apparently an avatar campaign, that's why some folks avatars keep changing. I think that there is an avatar signature campaign. Not yet, but I'm sure there will be eventually - whether that'll be allowed is another matter. see above You guys need thicker tin foil  How can you say there is a "apparently an avatar campaign" from someone saying "not yet" LOL Anyway even if someone thinks there will be one eventually, I don't see how there can be a very effective campaign other than a branding one because you can't have any html in your avatar so you can't click through to it, and its limited to only png, jpg or gif. So you could have a fancy animated logo for some company sponsor but no way to track clickthru's etc. why it matters that someone says "not yet" when the fact is that there is one. Just go to Services and see if you can believe your "lying" eyes or not. Besides, i don't think that an avatar campaign rises to tin foil status, regardless. On a more relevant note, I am happy with my Sp20E-working pretty good for a few months already. Endless tinkering with settings provides "mining" satisfaction. |
|
|
|
|
Selling less than 4wk old Bitmain Antminer S5 modified with two quiet PWM fans. Typically both rotate just at 3-2.76 thou rpm, resulting in much less noise.
I tested it up to 362.5 setting, producing 1180-1200Gh at less than 60C reading with 30C ambient. At lower ambient, you might be able to get to even higher speed/setting.
Asking price: $440 in BTC, which is lower than $488 on ebay and Amazon for the unmodified/loud machine), shipped to US only.
This machine is geared more toward noise-sensitive home based miners.
SOLD
|
|
|
|
A random observation:
1. It seems that upon loss of internet connection, S5 sometimes latches on a funky state: fan is not spinning or spinning minimally, but temperature is rising.
2. We had intermittant comcast problems in the last few days, so i observed it on a few occasions.
3. I felt that air coming out was very hot, and upon restarting the miner by PSU, miner reported 0 hashing, but temperatures of above 80 degrees at the sensor, so i had to switch it off for 10-20 min, then it worked as it should.
I believe that someone described something similar before.
The solution should be in software, which should maintain fan speed at a certain (closer to high) speed until internet connection is reestablished.
The fact is that the S5 miner does not fully switch itself off on internet drop or, at least, does not maintain fan speed long enough to coool the machine after internet dropoff.
I mentioned this exact same thing happened to me before. Maybe 3 weeks ago or so in this thread. Even a couple others mentioned the same thing and had screen shots showing over 80 degrees, which shouldn't even happen if the shutdown is 80. All my rigs stopped because of a sporadic internet connection. Miners fans stopped and they all turned into little heaters, getting hotter and hotter. All I needed to do was put my hand or face near one of them and felt the heat spewing off. Thank god I was home to power them off or all my rigs would have over heated. I mentioned and tried to bring this up but nothing came about because I had no "proof" it seems. This happened to me twice on all 6 of my S5's and both times I was lucky enough to be home and power off. I concur. This may be an intermittent situation, but it is not what supposed to happen. The solution is quite simple: put a string of code that tells S5 to continue to rotate fan at the same/high speed for 2-3 min after internet disconnect AND do not attempt any mining. i hate to make a direct comparison, but it is exactly what cough-oolies-cough miner does. |
|
|
|
So... when do people think GBTC shares will actually go for sale? For some reason I got the impression it was going to be yesterday/today.
It looks like no one really knows an answer. All we can do at this point is guess and trust people who have some experience in this field. I think it should happen within the next month, but I'm really not familiar with the processes required for such a trade. Sounds like they can be sold any minute now! https://twitter.com/GrayscaleInvest/status/591713454400139265If you check bitcoinwisdom, you can see that the market doesn't give a shit about this. And for good reason. I'd give it a week before concluding what the market thinks about this. Yeah, only now can these guys get into their accounts and decide what they want to do. I suspect some of them, at least, haven't been keeping up on things lately in their year long escapade like most of us have so it'll take some time to drum up a sound decision at this point. Smart GBTC investors will buy 'real' bitcoin while selling their "GBTC-bitcoin". At the minimum, they would be able to 'capture' loss, while fully replacing the underlying bitcoin. Wash sale rule will probably not apply because they will be buying bitcoin, but selling a different asset (GBTC). It is also possible that they will be able to sell GBTC at a higher price due to the interest from funds. |
|
|
|
|
Show Posts
