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961  Other / Beginners & Help / Re: 26 antminers S3 on: August 01, 2014, 06:46:06 AM
With 26 S3s you can mine on pretty much every pool since stratum has had the bugs worked out on SHA-256.  I would use load balancing over 3 or 4 pools, choose your favorites or the 4 biggest after ghash (please don't mine there for the time being) and have CGMiner load balance across the 4 pools since you would be earning for the next 6 months.  Set auto payout on each pool to 0.5BTC so you don't get too much build up on each pool and also so you don't have tons of micro transactions.
962  Other / Politics & Society / Re: Obama administration says the world’s servers are ours on: August 01, 2014, 06:30:59 AM
Hasn't the US DOJ heard that email is highly unstable and that hard drives are often prone to destroying information right when a subpoena is being served?
963  Bitcoin / Mining speculation / Re: Is Bitcoin Cloud Mining ???? on: August 01, 2014, 06:10:16 AM
Cloud mining is not profitable.  If it seems like it is, the company will disappear with everybody's money after 6 months and there's nothing you can do.  After all why would somebody go through all the work of setting up miners, a website, and company so they call sell you profit?

Miners don't cost 100-200k in USD. You can buy small ones for as low as $50.  The large companies do have a benefit when buying millions though.

any miner u suggest that i can make profit??

The Antminer S3 is what everybody says is priced low enough that you might be able to make a profit.  You need to buy 2 at once and they're 0.64BTC right now, so out of your budget. You can buy part of one in a group deal but that can be risky.

I would suggest just waiting for a little dip in BTC price and buy as much BTC as you can with the $70.
964  Bitcoin / Mining / Re: btc guild unlucky of late? on: August 01, 2014, 06:01:48 AM
Ghash has had 4 hour blocks before - that's 1/3 of the network not finding a block for 4 hours!

Last year when BTC Guild was close to 40% I think we had a 7 hour block - 40% of the network twiddling thumbs for 7 hours.

It happens - it comes under the concept of variance and Poisson distribution.
965  Bitcoin / Mining speculation / Re: CoinTerra & MegaBigPower on: August 01, 2014, 05:57:45 AM
By literally putting all the equipment they are about to sell to the consumers on their shelves while they develop new hard ware and sell their old shit to people like us? By creating HUGE petahash mining centers to compete directly with the consumers who helped fund their R&D for the initial hardware they sold? meh.. how are they not?

Is there a single company that has not done this? I believe dogie gave them all F for ethics in his ratings because they all are running private pools.  The sad part is some companies blatantly said they would not do such a thing as miner on their customers hardware, made promises even, and did just that.  It's one thing to steal, it's another to steal and lie about it.
966  Economy / Service Discussion / Re: I want to join cex.io now, what do you think ? on: August 01, 2014, 05:41:00 AM
Hello,

I want to take a SERIOUS step and I'm looking towards "cloud mining"

I don't want to go with pbmining as I don't want to have that 5-years contract.

The question is, is cex.io a good move, will I ever ROI my investment ?

I will put all my money I've as daily income into buying GH/s.

Kindly note that I'm still amateur or semi-professional in the mining matters, so kindly bare with me.

Thank you.

Check some reviews on: https://cloudmining.guru

None of those reviews can help you once the cloud mining company has filed for bankruptcy or even worse if they skip town.  While the same can be said for buying miners - we have learned now through the BFL saga to say no to preorders.  A miner, once it's in your hand, is a done deal except for the possibility of needing an RMA.  Cloud mining requires trust in the company for the entire length of the contract.
967  Bitcoin / Mining speculation / Re: Is Bitcoin Cloud Mining ???? on: July 31, 2014, 12:48:33 PM
Cloud mining is not profitable.  If it seems like it is, the company will disappear with everybody's money after 6 months and there's nothing you can do.  After all why would somebody go through all the work of setting up miners, a website, and company so they call sell you profit?

Miners don't cost 100-200k in USD. You can buy small ones for as low as $50.  The large companies do have a benefit when buying millions though.
968  Bitcoin / Mining / Re: Lets find out who are the pools controlling the unknown hashrate on: July 31, 2014, 12:43:30 PM
I see you have quite a bit of time on your hands. Could you find out the owners of BTCe and the current whereabouts of a certain Pirate?
969  Economy / Service Discussion / Re: I want to join cex.io now, what do you think ? on: July 31, 2014, 12:41:26 PM
It seems the majority here is saying NO.

Well, the queation now is, what about buying miners ?

Will this be non-profitable also ?

Possibly.  For that nobody is able to say with certainty unlike cloud mining.  Pretty much the only miner that end users could make a profit on currently seems to be the S3 by Bitmain. They make good hardware, they ship more or less on time, and have decent support.  If you have free power and don't mind the noise and heat you could try.  You might make a little loss, might be a little profit.  Don't expect too much unless you buy 100s.
970  Bitcoin / Mining speculation / Re: Asicminer News 15-30% of Network on: July 31, 2014, 12:38:24 PM
Replying here since this is a dedicated thread.

We are talking about Asicminer though it doesn't seem far out of their capacity to have that much money lying around for investment and they have the facilities and everything set up from their Gen 1.
Might take some time to convert the chips on hands to miners though but its direct to farm so that's a plus.

They did have quite the haul from 2013 mining and we do have their financial documents from a few months ago so its a plausible deceleration.
Worse bets could be taken
I'm not sure where you get the 30 million figure from though since Gen 1 was made with much less if I recall correctly.
Anyways worth keeping a watch on this for now.

You should read again their last financial statement. They don't have that much money lying around and neither the facilities. Also it doesn't make any sense to do it right now when they could've started 3 months ago. They could mine with at least 20% of their chips and wait for their 80% to get sold. After 2 months of low sales they could bump the mine to 40% of the chips and still have 60% for sale. Doing it right now seems like a desperate attempt to salvage something out of them.

I haven't been monitoring AM's financial status, but are you saying that AM is in dire financial straights and has to try to make salvage attempt with their chips?  The company that was 1/3 of the network last year at this time?
971  Bitcoin / Mining speculation / Re: New setup- assume free power on: July 31, 2014, 12:34:03 PM
Ok, got it, but even with the difficulty set at 20% on some calcs, i would be maybe breaking even if i were to get 5 s3 today up and running at around 2.5-3 month break. anything after that like you guys said, would be much slower etc. it just seems that the market itself would die very quickly if it were not possible at all to be making breakeven/profit. considering i do have unlimited free power, ive got no cost to at all to just set it up and let the machines run themselves 24/7 right?

and all this is if the coins stay at the same price, and the difficulty goes up at full 20%.

Perhaps you're not understanding what we mean by 20%.  We mean consecutively each increase goes up 20%.  So first 11 days difficulty is x, then 1.2x, then (1.2x1.2) or 1.44x, then (1.2x1.2x1.2) - geometric growth approaching logarithmic scale.  That's why the difficulty is 20X what it was 7 months ago - 20X is 2000%!
972  Other / Off-topic / Re: keyboard does not work during windows login on: July 31, 2014, 09:37:03 AM
or buy another keyboard?

Or read the 3rd post - it's the laptop's keyboard.  While he could plug a wireless transmitter on there and get past the logon that way it would be cumbersome - especially since laptops are meant to be ported.
973  Other / Politics & Society / Re: 1 BTC on: July 31, 2014, 07:43:14 AM
I think the most easiest way is too donate it to the Red Cross.

Nah, Red Cross while having good intentions could only buy 100 blankets or 100 meals with that.

Something like this http://thewaterproject.org/ or this http://www.charitywater.org/ would help more people.
974  Other / Politics & Society / Re: Send the Illegals Back, Americans First! on: July 31, 2014, 07:40:18 AM
The immigrants will save the American economy, not many people will acknowledge this potential. We need to make a special exemption to the minimum wage for 'illegal immigrants', other wise known as persons without proper documentation, and tweek some other requirements and this big fear about immigration will become a blessing in disguise, economically.

How do you think developing countries grow so quick? Cheap labor is key.

Clearly you do not live in America or recognize of the political gift system works in America.  Once you're in the country you're considered American by some.  Once you're American you're entitled to everything all other Americans are ENTITLED to.....uh oh, I said the E word.
975  Other / Politics & Society / Re: 1 BTC on: July 31, 2014, 07:34:14 AM
Money from western worlds reaches the highest utilization when taken to a 3rd world country.  If you use the 1BTC to buy medical supplies or even just just potable water for people in war torn regions of African continent you would probably get the most bang for your buck.  You would have to convert the 1BTC to fiat though as the charities that do take BTC don't do that work.

I used to do medical missions but I had to take a break because of my kids.  Hopefully in a couple years I'll be able to get back to it.
976  Other / Off-topic / Re: What video games do you guys play on your own? on: July 31, 2014, 07:24:13 AM
Hmm, not one person playing strategy games like Civ, XCom, Endless Space/Legend?

Played Endless Space some months ago, but recently went back to Space Empires V - worse graphics and the AI is weak, but I think it's probably the best space strategy game out there, especially if you have someone to play with/against. Smiley

Just looked at Sapce Empires V on Steam - OMG the graphics look like something out of 1997 and Win 95.  Might be a good game and I'm not all for eye candy but come on  Cheesy
977  Other / Off-topic / Re: Do you really earn more money because you went to college? on: July 31, 2014, 07:21:34 AM
Back of the napkin math -
Start working 2000 hrs/yr @ 16 years old taking home $30k (assuming no taxes since with credit/deductions you can go +/-). By age 36 you make 20x$30k = $600k (skipping interest).

If you do a cardiology fellowship after medschool/residency you will have worked for 6 years making $35k/yr (salaried resident so no minimum wage bonus for you) which let's say for the sake of argument would cover your student loans (not if you went private but we'll average it out with state schools). You'll make $200k/yr take home those 3 years leading up to age 36.

So by 36 the min wage adult and the cardiologist are even. Except the min wager could have a house almost paid off (possibly might even be working on house #2). Oh and the practitioner has also studied/worked about 2.5x as many hours as the min wager.

If the med school bound idiot (yes, now he is an idiot if he goes to medical school) changes to work 2 full time min wage jobs making $15/hr (assuming work is available) from age 16 he'll almost always be ahead by age 40, and if he invested wisely will have an insurmountable lead on any physician.

I bring up $15/hr since Seattle recently decided to bump up the minimum wage to that.  San Diego is considering $13/hr.
978  Other / Off-topic / Re: My favorit genre of Book on: July 31, 2014, 07:09:29 AM
What no mention of picture books?  Sometimes you don't need words, just the enjoyment of holding a book with your kids and flipping the pages while they ooh and ahhh at the pictures.
979  Other / Off-topic / Re: Lawyers on: July 31, 2014, 07:04:52 AM

Not to address your larger point, but if the "coffee case" you mentioned was the following, https://en.wikipedia.org/wiki/Liebeck_v._McDonald%27s_Restaurants, the lady actually got third degree burns from that, and had to be hospitalized for a week. And the final amount she was awarded ended up being less than $600000. Tongue

Still she should have got 0 dollars.  Everyone knows Coffee is hot, when you see that steam coming off it, when you taste it...Obviously its hot...

If I go to a restaurant and touch a fire, can I sue them for 3rd degree burns, it didn't say caution, fire is hot anywhere?

Actually you could sue and that's why businesses have to have umbrella coverage.  People will run in from the rain, shake their umbrella on the floor, slip and sue.

I have umbrella coverage for my house because I have a nice granite and marble walkway to the front door.  If somebody slips on that while trying to leave some solicitation on my door I can and probably will get sued.  Is it ethical and moral - not in my book.  But the lawyer would say "clearly the homeowner should have known better than to make such an inviting walkway to the front door so hazardous".

Ahh trial lawyers - giving Satan a challenge in the race for the most evil creature
980  Other / Off-topic / Re: What video games do you guys play on your own? on: July 31, 2014, 06:55:01 AM
Hmm, not one person playing strategy games like Civ, XCom, Endless Space/Legend?
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