Hi
Did you find any alternative open source exchanges besides intersango?

Ok. Let me connect my GH/s GPU cluster. Promise to send me the coins okay?

Can I use multiple rigs connected to the pool with the same wallet address?

Are you referring to pools?
I'm new to this can you explain the subsidy and fees?
I was under the impression subsidy and fees would be transferred to a node for solving the block or something.
MY question is simple, aren't those bitcoins transferred to some other client on the node?

Yes. Once mined they are indestructible.

Being abstract constructs, Bitcoins are no more destructible than the number 2 is destructible.
They can only be transferred.
You cannot "unmine" them.

A bitcoin however can be taken out of circulation like every other means of exchange if the owner just refuses to spend it. Or the wallet is lost. But there is no equivalent of burning a $1 note in bitcoins.

Can someone correct me if I'm wrong?

I took a look at the cex.io site and the numbers seemed very bad.
Maybe I read them wrong?
Can you help here? It says GH/BTC 0.0747 what does this mean? 0.0747 GH/s for one bitcoin or 0.0747 bit coins for 1 GH/s?

If it is the former then $10k would get you 74 MH/s which is just pathetic. You would end up just losing money.

The latter on the other hand equates to about 13GH/s per bitcoin which makes much more sense. Hmmm. I might actually consider this. What I don't understand is how the maintenance fee works. I expect hat after about three to four  months you would want to  pull out your money and mined coins as difficulty skyrockets but I'm not entirely sure of the math related to the depreciation wrt maintenance and pool fees. The calculator just says 3% for each. IS that monthly/ daily does it compound?

I think i'll just email those guys.

And lastly, why don't they just mine the damn thing themselves? I can't imagine they have idle hardware sitting there waiting for someone to pay for CPU/ASIC time.

I was thinking this too. Looking at a long list of ASICS that can be reordered, they all seem to be popping up at points where the increased difficulty in the bitcoin algo would make them next to unprofitable.

I'm thinking I would just build a GPU cluster and mine some SCRYPT based coins. They are apparently ASIC resistant, this should make their difficulty curve less disruptive. I really want to do some real mining as opposed to downright coin purchase. My ideal scenario would be coming up with a solution that scales with corresponding difficulty increase in the altcoin algo while remaining profitable.

From what I understand about the SCRYPT algorithms, they don't lend themselves to ASIC chips.
Isn't that the entire point of the algorithm to keep miners from having significant advantage with specialized hardware?
It is supposed to be more memory intensive than parallelized computations intensive.
Is there an ASIC provider that claims to produce hardware for SCRYPT crypto?

I was just going to ask the same question.
It makes you wonder if these ASIC producers actually aren't just mining with the hardware and claiming they're designing and assembling then once the difficulty heads north they dump the hardware and on to the next one. Tinfoil... I know.

It's just odd that the difficulty seems to trend perfectly with the availability of new ASIC miners.
I appreciate that increase in TH/s available to the bitcoin network should shave a corresponding increase in difficulty but difficulty seems to be the leading indicator here. Have I got it all wrong? CAn any one provide some insights on how difficulty works and why ASIC producers can't seem to have devices available in time to provide good ROI for a given difficulty level.

Thanks odolvlobo.

I doubt I'm the average noob.
I took one look at the GH/BTC ratio on the cex.io site and left the site as quickly as I could close a browser tab.
It looked to me that 0.074 GH/s costs 1 bitcoin and not the other way around. no?
If I read cex.io right and taking the current bitcoin price into consideration, they are asking you to cough up ~$1000 for 74MH/s
So even if i dump $10k in there, my numbers show that I'll make about $120 in a year with constant bitcoin difficulty. lol

No Offense Itun but cloud mining isn't for me.
I would rather wait for a heavy duty rig.
Most of my research would be focused on device durability of different ASIC setups.
If cex.io are interested in paying me for some GH/s then we can talk  

So let me ask again.
Anyone here have an ASIC miner and can you provide mining numbers and boards problems you might have faced?
What brand and how long did shipping take?

Thanks!

Total newbie.

Should i go for ASICS?
Are the advertised hash rates on these ASICS accurate?
Anyone has experience with hardware durability?
What is the expected trend for difficulty projection of the bitcoin protocol?
Should I just buy Bitcoins directly?
How long is the current bubble going to last?

Thanks!