This is really cool
Thanks! Feel free to share any comments you want, and please report any problems (if any) that occur for you.  . |
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6v3Kyw6N5ACvCuEjM1cAF2mr2TrGTnak2D
I love that it has a strong backing and pushes the community to actually take part in turning it into something great!
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The boards will use 32 watts each, so each board will look like a light bulb to your power company.
Lol a power company can't tell what you're using the power for. However, they might see an increase of 1,000kWh per month, and they might know you're up to something. It'd be interesting to get a call from them... "what are you doing that takes up so much power?!" "Building a flux capacitor! Tell Marty to get over here!" |
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Wait, people will pay 50BTC on a 10GH/s ASICMiner blade all day long, but they won't pay 5x that much for 7x the hashrate? What is wrong with you people!
For what it's worth, they're both overpriced.
A big part is also determined by when they paid. If they got them a month or two ago, they made a lot more while the diff was still lower than it is now. |
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Create an account with BTC-TC and transfer funds over. Go to the TAT.Virtualmine and buy it. The IPO is 0.007. The dividends are sent to your wallet on the exchange. https://btct.co/security/TAT.VIRTUALMINEAwesome. Thanks for the clear explanation! That was another fear: tons of micropayments as a result, :p. |
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Those of you with havelock... have you been doing alright with them? I just looked over their financials and they are losing more and more every quarter. They're down to a quarter (no pun intended) of where they were last year.
Havelock has done a couple of 10:1 stock splits. That's why the price is "down". The actual price is way up. I remember when Havelock shares were less than 10 BTC each. Then, they rose to over ten, about 15 BTC or so, and then they did a 10:1 split down to 1.5 BTC. Then, they rose to about 3 BTC each, and they did another 10:1 split down to 0.3 BTC apiece. To make a long story short, If you had bought shares when Havelock first started, you would have more than tripled your BTC in about a year. I think that the only stock on Havelock that's down is SDICE. ASICM, HIM, and VTX are all way up. Havelock Investments is the Berkshire Hathaway of Bitcoin investing. Oh wow. I wasn't aware of the splits either. Is there any information that helps give a timeline of these things? The splits are indicated in both the updates tab, as we'll as annotations on the price graph (charts tab) The graph is adjusted so the splits don't make the graph crazy. (Historical data pre-split was adjusted to show post-split values for unit volume and price) 1 unit was ~ $22 when we launched and would now be 100 units worth $30 each. $100 invested at launch would be worth over $13000 today. (A lot of that is due to btc appreciation a well) Cheers, James Wow, that's awesome! I'm pretty new to stocks so hopefully this doesn't sound too stupid but... what determines when the stocks split again? We split the stock because the value kept growing to the point that it was cost prohibitive for a single person to invest. If we hadnt split the stocks, a single share right now would be worth 31BTC, or over $3000. Our goal when we launched was a price around $20-$50, when we grew to over $300, we split 1:10, then when we grew to over $300 again, we did another 1:10, bringing the price per share back down to the target range. Ahh, I see now. Thanks for clarifying that, . So basically it's based on how high the price goes. |
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Someone should have told me to buy 29 BTC.
I might get Back 15 if I'm lucky.
lol, I feel you. I think a lot of people are getting caught up in this. Look at the people that put out hundreds of BTC back when it was $10 for their ASIC's and still have nothing to show for it. |
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I think the board will be supplied with the heatsink, is it? Earlier in the thread Terrahash did state that all boards would come with heatsink. That alone may or may not be enough though, so I'd plan on having something to supplement just in case. @Terrahash: That hasn't changed has it? Even if a heatsink were enough, adding more cooling could only help. Even a small drop in temperature can add a lot of life to the electronics. |
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I have seen that and many like it before the problem is people don't take into account so many things. Below is not all my original thought as I have talking to a lot of people but in general something to think about:
- ASIC companies are not going to meet their target goal dates
- GPU/FPGAs will drop out of the market (right now its about 40 Th/s).
- FinCen rulings. If pools get regulated its a game changer.
- One the full return of a unit is over 3 or 4 months per unit the network hashrate will slow.
- These graphs are based on these huge percentage rates continuing on forever and they won't as most bitcoin miners have a low tolerance for risk.
- As soon as hash rate rises to 1-2Ph/s people will start to drop out of the race and the difficulty will quit rising in 30-40%/month jumps. At that point it should parallel what happened after the GPU spike when GPU mining became popular. It'll start to plane out.
- At a rate of difficulty increase of 50% per month starting this month (150Th/s network hash rate). You will still be looking at mining 159 coins within 1 year. That assumes after 12 months the network hash will be 12Ph/s. Once the existing miners choke on the difficulty it'll start to average out around 1-2Ph/s (5-8mos) and go down to 10-15% growth per month (probably less).
- I would estimate an monthly network hash rate increase for this year of 20-30% when all months are averaged. Given the current difficulty and planned future growth you should make 250BTC on this unit this year. Worst case you're looking at 3-4 years, best case 1 year (or less).
I have went out of my way actually sit down with a few of the upcoming ASIC companies and the math still works out. Its better to mine the bitcoin than to just hold it. Which is why I keep buying hardware. For a guy who is just trying to get rich and double his money in a few months then hardware isn't the way to go period and your foolish to buy anything. But if your holding bitcoin I think its a sound investment.
A question that is about as important as expected ROI is how long the hardware is going to last. The bad part is that all of this is so new, it could be burning out in a couple months or it could last forever. There's a bit of risk with that alone. |
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Hmm, I only got 11 devcoin for the month of May despite writing 76k words. Is that normal?
May's earnings don't come until July. What you got was the test send to ensure your address on file is correct. |
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Hmm, based on the current dividend rate, it's a 230 or so day ROI (assuming no difficulty increases -- which we already know is false). I'm wondering why people are still buying into this.
Is there something I'm missing? If the dividends are already at 230 day ROI, and are going down every week or two... I don't see it breaking even for a couple years if it does at all.
The thing you're missing is, try to find anything else that gives you a better deal. If you try mining yourself you'll have to deal with preorders that may or may not come. You can buy AM USB or Blades which is cheaper than these shares but you'll have to keep it running for a while at your own expense. How about investing in AM shares? They won't pay nearly as much in div/cost for a long time from what it seems. The BTC investing market is the most profitable and, if you want, you can go on wall street and do stocks with a 7% return a year. Right now, even with difficulty increase, we are getting over 10% a month. Find anything in the world that will give you over 10% a month and I'll be glad to follow you into it. EDIT: I do realize that starting a business might be a good idea depending on the business. I get to sit on my ass and get 10% a month. Well, the issue is that with the quickly rising hash-rates, it's going to become less and less valuable. While it may be 10% this month, next month it could be 3%, then 0.1%, etc. I'm mostly trying to figure out if I should jump in on this now or just keep the BTC (based on number crunching I don't see the dividends paying off based on the current stock prices). I could be wrong, of course. It will definitely not drop to 3% next month. In order for that to happen difficulty will have to increase to 72,000,000. I'd say you don't to worry about that for a good 7 months if it increase 20% each cycle. Of course you can always mine using the USB miners and resell them on ebay at a later date. mmm, I may jump in on this then. It's much cheaper to get into than USB miners, and without having to do any extra work. Was just afraid of getting in on it and never seeing the full ROI, :p. You can always sell it at anytime. I think its easier to sell these than it is for physical miners. I do consider these to be undervalue for the dividends it pays out compare to everything else. The virtualmine in BTC-TC needs love. I'd buy those shares but don't have to BTC till next week. To make these purchases, what do we do? Just transfer funds over to the site and then set up a buy order? And how are dividends handled? Sent directly to us or to our stock exchange account? |
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I started a bounty for a better hashing algorithm that will keep things more decentralized: https://bitcointalk.org/index.php?topic=234611.0As long as changing the hashing algorithm is on the table, we might as well attempt to find the best one! I really don't see changing the algorithm happening. Especially with how old Bitcoin is and its following right now... |
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I think you will change your mind...(Does a Jedi mind trick with facts)
(massive image here)
Title: ASIC's are WAY overpriced!
Well, that was enough to turn me away, lol. The next difficulty increase (tomorrow) is 24%+ right now. I didn't realize the decreases were going to cause such a massive drop in income so quick. So +1 to you, and thanks! |
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ASICs shouldn't bother anyone. A rig with 4 7970 GPUs can only get barely 4 GH/s and costs over $3000. Now, for $649, you can get a rig that gives you 4.5 GH/s. ASICs are so much cheaper, with the tradeoff of having only one purpose. Also, imagine how mad CPU miners were when GPU miners came out. Must have been infuriating. Advancement of technology will always happen. ASICs just happen to be the next step past GPUs. There will be something to pass up ASICs in something like 10 years. Just watch.
Until I can order an ASIC on Amazon and have it delivered the next day and for less money than the same hashpower in a GPU, that is purely hypothetical. But this is where it will end up. Since there is not much more that can be done technology wise, in order to be competitive it's all about producing as many as possible at the cheapest cost. I agree. I'm positive there are companies close to getting ASIC's ready to go mass produce that aren't going public yet because they are going to mine them until their profitability goes down. It doesn't make sense to think otherwise: if you can sell something for $300 or earn $200 a day off it, it's clear which path to take. |
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I think you definitely want an electrician to do it for you, it might be illegal to do it yourself, and if you mess it up you'll either electrocute yourself or the power company technician if they come to work on the street power. I'm sure they'll set everything up -- your meter will run backwards when you're selling power, so you'll pay for the net power you use.
Ohh, I didn't realize the meter would go backwards, lol. That's actually pretty cool! Thanks for the info btw, . |
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Hmm, based on the current dividend rate, it's a 230 or so day ROI (assuming no difficulty increases -- which we already know is false). I'm wondering why people are still buying into this.
Is there something I'm missing? If the dividends are already at 230 day ROI, and are going down every week or two... I don't see it breaking even for a couple years if it does at all.
The thing you're missing is, try to find anything else that gives you a better deal. If you try mining yourself you'll have to deal with preorders that may or may not come. You can buy AM USB or Blades which is cheaper than these shares but you'll have to keep it running for a while at your own expense. How about investing in AM shares? They won't pay nearly as much in div/cost for a long time from what it seems. The BTC investing market is the most profitable and, if you want, you can go on wall street and do stocks with a 7% return a year. Right now, even with difficulty increase, we are getting over 10% a month. Find anything in the world that will give you over 10% a month and I'll be glad to follow you into it. EDIT: I do realize that starting a business might be a good idea depending on the business. I get to sit on my ass and get 10% a month. Well, the issue is that with the quickly rising hash-rates, it's going to become less and less valuable. While it may be 10% this month, next month it could be 3%, then 0.1%, etc. I'm mostly trying to figure out if I should jump in on this now or just keep the BTC (based on number crunching I don't see the dividends paying off based on the current stock prices). I could be wrong, of course. It will definitely not drop to 3% next month. In order for that to happen difficulty will have to increase to 72,000,000. I'd say you don't to worry about that for a good 7 months if it increase 20% each cycle. Of course you can always mine using the USB miners and resell them on ebay at a later date. mmm, I may jump in on this then. It's much cheaper to get into than USB miners, and without having to do any extra work. Was just afraid of getting in on it and never seeing the full ROI, :p. |
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Why is the case just by itself cost $1200.00?
If you run it yourself you will have to research exactly how to connect the boards together. And then properly connect to a computer. It will cost a lot more (in time alone) to design something like that. I'm thinking of having them host the boards instead. The power supply and the fans. Sounds like a real hassle to me. Not some simple little case. Since I haven't done any mining. I'm wondering how much trouble it will be to configure to a mining pool? Get it running for the first time? My power company likes to gouge you if you use too much electricity instead of a linear charge per Kilowatt. In my situation it might be more practical to have them host the boards. The boards will be powered using PCI power connectors like the ones on a regular computer power supply. The boards will have an I2C connection to chain multiple boards together. The boards will connect to a host machine or router with a usb cable. The boards will work with cgminer, so setting it up on a pool should not be a problem. The boards will use 32 watts each, so each board will look like a light bulb to your power company. So even a complete newbie should be able to use/set these up effectively even with the board-only option? I am a newbie. I tried several miners with nothing but trouble. Cgminer worked the first try. The question was in relation to these boards, not miners in general, :p. |
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Well - I know that ever few months we get someone who has a "trading bot" for Windows, has similar pretty screenshots, offers to sell it for about the same price here, always versions it v1, v2, talks about features coming to the next version, and mysteriously a lot of people who had accounts formed around the same day come and say they have used it and it is good.
Not saying this is that - but has any old forum people here tested this out and can confirm it works and does not install a malicious "bot"?
This is another worthy point. Maybe getting a highly respected member of the community to test it out would be a good thing, if one is willing to do it. |
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Hmm, based on the current dividend rate, it's a 230 or so day ROI (assuming no difficulty increases -- which we already know is false). I'm wondering why people are still buying into this.
Is there something I'm missing? If the dividends are already at 230 day ROI, and are going down every week or two... I don't see it breaking even for a couple years if it does at all.
The thing you're missing is, try to find anything else that gives you a better deal. If you try mining yourself you'll have to deal with preorders that may or may not come. You can buy AM USB or Blades which is cheaper than these shares but you'll have to keep it running for a while at your own expense. How about investing in AM shares? They won't pay nearly as much in div/cost for a long time from what it seems. The BTC investing market is the most profitable and, if you want, you can go on wall street and do stocks with a 7% return a year. Right now, even with difficulty increase, we are getting over 10% a month. Find anything in the world that will give you over 10% a month and I'll be glad to follow you into it. EDIT: I do realize that starting a business might be a good idea depending on the business. I get to sit on my ass and get 10% a month. Well, the issue is that with the quickly rising hash-rates, it's going to become less and less valuable. While it may be 10% this month, next month it could be 3%, then 0.1%, etc. I'm mostly trying to figure out if I should jump in on this now or just keep the BTC (based on number crunching I don't see the dividends paying off based on the current stock prices). I could be wrong, of course. |
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I am not interested in selling these for a penny less than 250 BTC. If you look at what you can get now which is basically just blades and USB sticks.. and its not really now..since they have to ship from China and horribly overpriced. If I didn't have a power issue I won't sell them at all but I underestimated the power I needed for so many units. I would rather just hire an electrician and get the electrical done right and buy up more units which I will probably end up doing anyway.
Everyone has their own opinion of difficulty whats going to happen or not. Personally I think about 40 Th/s of networking power is going to drop from the network due to FPGAs and GPUs leaving it and that should balance out this next month of difficulty even if it rises. I have seen crazy projections etc etc.. but I keep buying hardware because I believe that best case I make my BTC back in a few months. Even if it went crazy high and took a couple years to make a profit with its still smarter than buying bitcoin if your doing a long bet that BTC will rise like I am.
So the price is 250 BTC firm...a couple lucky guys will get one overnighted to them no BS and the rest of everyone else can wait for pre orders that may or may not ever happen or maybe get some horrible ROI ASICMINER blades/usb block erupters.
I'm with you on this. Of course it's all speculation and different people have different views. I believe this would be a good thing to get in on. Even if it were earning .2 BTC a day, over time it would pay off I think, assuming it's not built to last only a year. |
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