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Where can we find our login and password for demo and real servers?
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Sitarow, from where are you getting the data in the table format (listing all your miners together)?
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Awesome video showing Milton's great perception ... thanks for posting that Calian! Think of all the futuristic sci-fi movies -- almost all of those movies perceive us as using some type of purely digital (perhaps anonymous) currency in the future. It's an inevitability. |
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Having my mBTC taxed is a small price to pay ... ... famous last words  ... for a low-fee and fast decentralized global financial transaction system. ... uumm, don't we have that (i.e., no-fee) now -- without even being taxed? |
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I understand that the first pre-order batch from KnC will be delivered first. What is the estimated delivery month for the 2nd batch? How do we know which order batch we are in?
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Bitcoinorama, you have a very lengthy method of replying to questions which I am now thoroughly convinced is your way of ensuring you err on the side of over-communication. I appreciate your sincerity and your efforts and I look forward to future responses from KNC. Thanks and keep it up!
A.C.
******
Ya, it's amazing how bitcoinorama has maintained his cool and not gotten upset over some of our posts ... he just keeps peacefully chugging away |
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It's amazing how small some of the pages become once you put KS on ignore.  LOL  ... come on now, be nice ... we need fair and balanced discussions |
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KnC will allow for upgrades from Saturn to Jupiter while maintaining the place in queue, however, I am not aware if they'll allow the upgrade to additional units while keeping that place in line.
Why all this talk about upgrades? Is there an order cut-off date? Is there a minimum number of orders KnC needs to get started? |
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... If the "available units" on KNC's web are correct, that means that 1,000TH are still available. Considering the +150TH in Avalon chips, plus another 100TH by ASICMINER, and +400TH by BFL, that would take difficulty to at least to 200 million. Without even counting for Bitfury. ROI is going to be tough, guys. If there is someone so dumb to have asked for a loan to buy ASIC... He might better cancel his order, this is going to be a tough fight for peanuts - as mining has always been, apart from that small timeframe in which ASIC equipment supply was hyper-short, and the very lucky ones who had one unit took all the profits. ref: http://www.bitcoinx.com/charts/I'm trying to do some forecasting and risk analysis using the "bitcoin network vs. market linear, 30 days" charts and noticed that the "Mining Factor 100" (the USD per 24 hours at 100MHash/s) has dropped from 0.55 on May 21st to around 0.26 as of Jun 17th. That's a drop of around 50% in 1 month ... and, that drop happened with existing ASICs (I'm guessing mostly due to ASICminer, a few avalons, and the BFL jalapenos). At this rate, the "Mining Factor 100" could drop down to at least 0.13 by October. Using those estimates, if KnC, BFL and others deliver by October, each 350GHash (Jupiter) miner, for example, will take, at minimum, well over 5 months to breakeven ... and, that's assuming a lot (i.e., the BTC/USD rates stay about where they are today, no new competitors, no new game-changing technology, no new ASICs added to the market, the difficulty level continues as it has over the last several months, etc.). ... and, in order to earn the same in November 2013 as a Jupiter would earn today, I estimate that you will need to be mining with approximately 20 Jupiters by November. Worse, if KnC can't deliver until November, the breakeven might not happen until well over 2 years later. By March 2014, the Jupiter might be earning around 1 USD per day ... hhhmm. In order to stay viable and profitable, it's really in our best interest to get everyone using Bitcoins: restaurants, websites, bit-tipping via cell phones, etc. Just like paypal is everywhere, "Pay-with-Bitcoin" needs to be everywhere. Over the past 5 months, when I've asked about 40 of my friends (in their 20s through 30s) if they had heard of bitcoins, only 2 said they had, but didn't understand it. So, I'm guessing there's still plenty of opportunity for Bitcoin's growth. @Bitcoinorama: Did KnC say they plan to release all 2000 ASICs to the market at relatively the same time or spread out over several weeks? |
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Anybody else having issues playing the videos? Works fine for me |
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Thanks for all your efforts Bitcoinorama, this is very valuable information
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The way I see it. The arrival of asics in rapid and large scale as Knc and several others propose will kill profitability in the short to medium term. People who have invested thousand of dollars in asics will try to dump their bitcoin as soon as they mine it to pay for their investments before the dif goes through the roof. This will create a buyers market and the price of btc will plummet.
The smart players and long term investors will hoard and bottom feed but they will be the few. Many many more will sell as long as its still profitable for fear of losses. Unfortunately human nature being what it is a lot of people have jumped in feet first thinking this would be an endless source of easy money, probably going into debt to fund it. They will be the first to panic and flood the market with cheap coin. This will probably start a snowball effect that will collapse the market for months until things level out. The proverbial "fire sale"
And when the dust settles the time for small miners will be gone. Unless you are willing to constantly upgrade and treat this as a business you will eventually have a nice warm metal brick sitting in your garage. Bitcoin will be dominated by those with deep pockets and ebay will be flooded with cheap asics.
This might sound alarmist but this has a similar feel to the dotcom and housing bubbles that many people lost their shirts in. People saw a rising market and jumped in without looking at the fundamentals betting more than they could afford on the promise of easy cash. Not that long ago btc was at $260 probably for the same reason. Fools rushing in.
Ya, that's pretty much exactly how it could play out. It took 2 years since the last run-up, plus a financial crisis, to produce this hyperbolic run-up ... how many years till the next hyperbolic run-up? Since these ASICs wouldn't work on LTC mining, perhaps we'll see a shift to LTC after the dust settles. |
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... Meanwhile these companies producing their mining products are reliant on third-party vendors to exchange their bitcoin to pay the vendors that only accept local currency for the raw material needed to make the finished products. ... Ya, that's a really good point. All these ASIC developers/manufacturers are asking for and accepting payment in Bitcoin, but they still have to convert those bitcoins into fiat currency to pay their vendors. Theoretically, if everyone paid KnCMiner in Bitcoins -- approximately $7 million so far -- shouldn't we start seeing some pretty large BTC sell orders on MtGox soon? |
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As for the KnC miner numbers, they totally, utterly had a plan of flooding the market with something that may be a collective 30% saturation. The numbers sold by the preorders were far less than what they expected to sell ... How do you know it was far less than they expected? ... and the expenses for this project will run into 4 to 6 million USD when we count their engineering work too. I'm sure they have surpassed 7 million USD by this point. Does anyone have the actual sales numbers yet? So selling KnC miners at least to a break-even point and NOT ruining the BTC network seems like an impossible task. So, you are thinking that KnC miners will ruin the BTC network? There are so many factors to consider: Will KnC be able to deliver by September? Who else will flood the market with ASICs before KnC gets their products delivered? Where will the exchange-to-BTC rate be in September ... what if the exchange rate drops back down to 5 USD per BTC? How will this flood of ASICs affect us little guys who are mining for only pennies a day? On the other hand, could this be a really good thing for the Bitcoin economy? Will the Bitcoin economy become stronger, more effective, efficient and resilient, with this increased flooding of ASICs on the market? |
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Just think: if KnC sells 1,500 Jupiters and delivers them quickly, when added to the rest of the network each one will probably produce aprox. 1BTC or less per day, and ROI will be unlikely. If they sell +3,000 Jupiters (which seems likely they will do), when they arrive each Jupiter will produce 0,5BTC per day or less, and ROI won't never happen. 1/2 a BTC per day?! That's what worries me, especially for those of us mining without Jupiters and Saturns. |
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I thought I'd go ahead and load up on some Jupiters  but the site says there's only 1652 left. Anyone know how many have sold so far? Genesis block said they already pre-sold 890 orders a few days ago -- at over 160 TH/s. If they can deliver on all those orders, will that much processing power have any affect on the value of Bitcoins, or just on the mining profitability?  |
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I dont believe its ever going on gox
What is mtgox's minimum criteria for listing LTC or any other similar coin? |
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I had the same question, thanks for the link
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