Cloud mining will easily leave you without pants.
It depends on company. Do your research before any investing especially cloud mining. There are good companies out there, and yes there are a lot of crap ones in cloud mining. Use as a general rule does it sound to good to be true? If yes chances are the site is going to disappear one day. |
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Best of luck with the group buy. I hope it works out. They really are very very high quality miners. And I cant say enough about their operating with very little sound. Bump for the group buy going of these. It sounds like a pretty good deal if they get to 40. Cheapest I have seen at least on selling. As always use escrow. |
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Can you guys explain to me a standard "protocol" for a physical meetup. As in, do you pay in cash? Do you offer the cash first and then undergo the Bitcoin transaction? Basically how do you actually go about the exchange?
I have not done it personally. But I would suggest meeting in a public place with internet Starbucks, Mc Donalds, etc etc(even better if your phone has wifi capability that can be used with laptop to connect to) . I pick these places as you could stay there a bit. You will be waiting for at least one conformation, unless buyer want's more. But as always with something of value be careful. Make sure not to do anything like bring all your BTC, leave cold storage at home. Also I would invest in a pen that shows if cash is fake. |
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Perfect answer.
Most don't show much of their big data center's. One of the bigger sellers of hosted gear is Mr. Lee in group buy. Look at post here and scroll down to see types of data center you would have to compete with. - https://bitcointalk.org/index.php?topic=934581.0 |
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Why would a government fund a farm? What explanation would be for them why they spend money this way?
There is almost no reason. Only one I can think of is if you put a farm in unstable place, and government take it. (Slim chance of this as data centers are built in stable countries). If a government needs BTC for something.... they will buy it. I think he s aiming towards a farm being built by some public funds, donation, etc. This simply does not happen, not in a developed world. Maybe some African dictatorship might consider it. More likely a dictatorship would invite someone to do it in their country and then just take over. I agree governments will stay out of mining. |
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Nope, I can get half that price in several locations.
Are you sure you can get 0.04 Cent not 0.04 USD? OP is living in a paradise if 0.08 Cent per kWh is the actual price. Good point, I can get $0.04/Kwh which is .04 USD Can I ask general location? That is pretty good price on electricity. |
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What do you mean power consumption is not an object? If you put inside 1000 S5 miners, power consumption ll go through the roof and someone will notice it, unless you have your own hydro power or similar.
I don't see it either. Having access to and getting tons of free watt's are two different things. And when you put a few thousand watt's worth of asic gear they might not be as nice about your gear, unless amazing cooling. Asic data centers vs regular data center's just are a huge difference in cooling. Servers don't require near what asics do. |
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First Point : Hosting place
Second Point : Electricity
Third point : import fees
First :
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we've a place [ 325 M ] which is now used as a storage unit so we can clean and manage it as well to become a hosting place with good Air coolers systems, such as like very strong fans ( customized as needed ) and/or Air conditioner, so the place isn't an issue for using as a little farm.
Second :
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since 2010 people start investing in selling electricity to Government and make a good investing on this field, so i believe that i can get a real cheap electricity from this way.
but i'd like to ask you about the best price for the electricity and how to calculate the usage of S4+ 2.5TH/s Miner ?
Third :
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Sadly Egyptian customs and taxs department isn't negotiating the fees so the 10% can't be fixed.
i think even if i or any investor paid the extra 10% rate as importing fees it will be a matter of time to get it back by mining for extra period of time.
I am being honest 10 percent import fees is hard to get around. There are not that many investors that will have enough for a entire data center when they compare places this will stop most. They will ask them self why add a extra 10 percent to make when it's already tight ROI? Electricity I was being honest when I said you need to get it around half of the 0.07$lower to up 0.09$. I just don't see you being able to go from 9 with higher usage to 4-5 cents. It sounds easy but people go to China, and US such as Washington state to find this. And I'm not trying to kill your dreams. I love mining. I honestly suggest you mine for yourself but don't put a lot of money into a "data center" unless your current stats change. |
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I hope it does not pass. It's good to get bitcoin talked about by goverment in a way, but I don't see that this bill will push acceptance just tax.
I would suggest you look into the rep that introduced the bill. Him being a banker makes it sound like he is not impartial.
Yes, you're exactly right. Rep. Ross's campaign contributors include several banks and banking entities: http://www.followthemoney.org/show-me?f-core=1&c-t-eid=10886102#[{1|gro=d-eid Appears his single biggest donor (not including party) is also tied in with banking aswell. Is there a date as far as when it's voted on? |
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sorry for asking this way but what actually motivates you to start mining (and invest thousands of USD to mining gear) over buying BTC directly? I'm just curious.)
I believe that investing in Mining is real gambling while i have a good chance to make such small profits from it and it might be a start point to build a the first mining farm in Egypt as well. Now i'd like to ask you @notlist3d if there a chance to open investing in Mining by hosting and cooling miners for people and charge for a cheap electricity and small fee of cooling ?? do you think that people might be interesting in investing with me? Sadly I think the 10 percent import fees kill the chance of it. Most legit mining companies will not avoid these, and rightfully so. The electricity prices you mention are not really great. Most would go to if US Washington state, and China is become a heck of a place that is hosting a lot. What you do have for you is looking at humidity chances are you could use evaporation cooling, which is a huge plus. Means cooling is a lot cheaper then standard ways. So overall if you were to invest I would suggest going to a more known place for hosting. I wish I had a better anwser for you, but this my opinion. If you were going to make an investment in hosting I would suggest a US or China partner and follow the cheap electricity. If you want to make it work you would have to get extremely low electricity around half of what you mentioned. You have to find a LEGAL way to get miners in at a lower import fee. |
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I hope it does not pass. It's good to get bitcoin talked about by goverment in a way, but I don't see that this bill will push acceptance just tax.
I would suggest you look into the rep that introduced the bill. Him being a banker makes it sound like he is not impartial.
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You don't need a strategy to post on forums. Login when you have time and comment on topics that interests you. When you don't have time, post less. I post based on my personal experiences and views, help other members if I can.
i don't agree with you we need a plan to be here i think with a good plan you can earn 75% of your time doi,g thing randomly is not good i wanna ask you as experience or beginner about:- what's your participations strategies ?
- how you manage your time here and how much time you spend ?
- your posts are based about what and which your sources of informations ?
- have you any priblems with forume terms or rules ?
- what's your participations strategies ?
I enjoy mining and hardware. I mostly hang in those areas. - how you manage your time here and how much time you spend ?
I honestly don't manage it to well I spend here. I have spend a lot more time then I should but I enjoy it. It's a hobby - your posts are based about what and which your sources of informations ?
I get most of my information as far as hardware first hand. I have done maney guides/reviews on different gear. Each one I did I had that gear in hand testing.' - have you any priblems with forume terms or rules ?
No problems with rules. They are fair in my opinion. i like the way with which you replied you are verry specific and you know what do you want from this group that's a good thing to know your goal Glad you liked it  The main thing is just finding what you enjoy with bitcoin. It could be anything speculation, hardware, investing, or even just off topic. There is a lot to learn at first but eventually you will find the niche you enjoy. |
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Snip
Just last month we have paid out over 10K of earnings. We have had some that made upwards to 500 a month just last month. If you see any gold members in chat, they have earned a minimum of 25K Grindabucks.
snip
So are you associated with this site? If so can you tell us in what way? |
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I think to do that the only way is to invest in currency,you have to have good initial amunt and don't be unreflective,don't make any step without listing your goals and stading all risk possible .and good luck
To gain "$500 a week online" you would have to be very high volume and lots backing it. 500 dollars is just not something you can get with trading unless super lucky or using a lot of investment cash. You have to think that mean's replicate this. So 2000 that is earned a month. Most will not do this trading. And being able to count on the per week income is pretty much impossible trading. |
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I just bought one to have a look at it and play around, might test that, too. I like the fact that you (normally^^) don't have to mess around with psu's.. For now it looks ok, as Spondoolies seems not to sell at the moment, I will get some more of those S4+ Will post another pic when it's a bit higher. I dont know about that seems some people are crediting Spondoolies with a better chance at finding a block. Technically I don't know how that works but they base it of experience. Maybe the reliability or better quality with less defects reason but you could bash this statement all you want with every hash has equal chance but I'm leaving this open ended. As long as the hash is the same, the chance is the same. Brand of machine does not make a difference of finding a block. This assumes the machine does not have a problem, I guess you could have high latency or bad firmware that could cause it. But Bitmain and SP gear both don't have firmware that can find blocks. Can you point to where you read about "some people are crediting Spondoolies with a better chance at finding a block"? hearsay among peers but unified with respects to there machines no official results Can you point to thread or article? I just had not heard this and would be interested in reading it. |
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looked at different setups surprised to see how u guys overcome on the electricity cost, currently im having 2-S1 and 6 GAW furys in one farm and they are not comfortable with the microwave so need to turn them off before heating up things my question is how to calculate electricity cost for the farm which includes multiple asics and GPU miners? and compare it with the mining profit? You would calculate based on watts used and electricity cost. Farms at this point would be Asic's, GPU's are pretty much over as far making much money. You can use a kill-a-watt to get the actual usage. But there are calculators to times it with rate and get full month cost. In a farm you would also have overhead, heat extraction, etc. You have to find a formula to make sure you cover all this if you were running a farm. |
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I just bought one to have a look at it and play around, might test that, too. I like the fact that you (normally^^) don't have to mess around with psu's.. For now it looks ok, as Spondoolies seems not to sell at the moment, I will get some more of those S4+ Will post another pic when it's a bit higher. I dont know about that seems some people are crediting Spondoolies with a better chance at finding a block. Technically I don't know how that works but they base it of experience. Maybe the reliability or better quality with less defects reason but you could bash this statement all you want with every hash has equal chance but I'm leaving this open ended. As long as the hash is the same, the chance is the same. Brand of machine does not make a difference of finding a block. This assumes the machine does not have a problem, I guess you could have high latency or bad firmware that could cause it. But Bitmain and SP gear both don't have firmware that can find blocks. Can you point to where you read about "some people are crediting Spondoolies with a better chance at finding a block"? |
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Bitwisdom closing up the night:
Bitcoin Difficulty: 47,643,398,018
Estimated Next Difficulty: 48,424,481,111 (+1.64%)
Adjust time: After 347 Blocks, About 2.4 days
Hashrate(?): 371,233,205 GH/s
So it's looking pretty for sure on positive. Price around 237 so a little recovery of the drop from 240.
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I have an Antminer S2 that I could trade you. Runs at 1TH, but power usage is higher than the SP20 for sure, around 1w/GH. Upside is, it would come with a PSU as well. LMAO!!! i have 2 S2 antminers... however i assume you are both in the US Yeah, I am. I'd be willing to kick in a few bits too, if he wanted to trade across. Big difference in power efficiency though... I wouldn't need his OCZ PSU either, I'd let him keep it. I think he was meaning 1:1 as sp20 for sp20. But I could be wrong. With half of it burnt it's hard to tell what value of it is now without knowing more. Big difference between blade being dead and just plastic being melted. He said earlier he meant that he would trade for equal hashrate, that's why I offered. Trading a burnt (and potentially unrepairable) SP20 for a good one would be kind of pointless to the person on the other end of the transaction... You are right thank you for pointing that out: Wish I was able to tell more and I might have been interested if it's just hash for hash. A lot rests on if that blade is fried. |
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You don't need a strategy to post on forums. Login when you have time and comment on topics that interests you. When you don't have time, post less. I post based on my personal experiences and views, help other members if I can.
It is true finding something you enjoy will make a huge difference. Once you find what area (and could be multiple areas) time really does fly. For example I can read a drool at new hardware and time flys for me. |
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