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No one's buying an S5 for $100 in five months. In five months they'll be junk. S5s are currently going for $160 on the forums now.
i wouldn't say they will be junk there is always a market for them. No new hardware is/has been announced and validated so right now s7 and s5 are tier 1 and 2 as far as latest and greatest. sure the rising diff and 1/2ing will impact them but those in free or super super cheap power area will still use them or those that want to throw them at the solo lottery. look at the USB miners that are still made people snap those up instantly. There is new hardware coming from at least two manufacturers in the next 60 days. We've got a lull in the hashrate here, but you'd be fooling yourself if you don't think even S7s are about to become old technology. Where do you see new hardware coming to the small user within the next two months? All i saw is SP and Bitfury considering private investors. I know from conversations with the companies. I wouldn't hold your breath for SP, where they're semi-publicly listed we can see that they don't have the funds to build a miner. The rest are finishing the next machines. Unless the price tanks, the roll outs will continue. |
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No one's buying an S5 for $100 in five months. In five months they'll be junk. S5s are currently going for $160 on the forums now.
i wouldn't say they will be junk there is always a market for them. No new hardware is/has been announced and validated so right now s7 and s5 are tier 1 and 2 as far as latest and greatest. sure the rising diff and 1/2ing will impact them but those in free or super super cheap power area will still use them or those that want to throw them at the solo lottery. look at the USB miners that are still made people snap those up instantly. There is new hardware coming from at least two manufacturers in the next 60 days. We've got a lull in the hashrate here, but you'd be fooling yourself if you don't think even S7s are about to become old technology. |
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No one's buying an S5 for $100 in five months. In five months they'll be junk. S5s are currently going for $160 on the forums now.
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No, I'd use GND in Labrador as escrow, they'd be hosting.
Right, so i can have my miners hosted with let say Allinvain, why would i share the profit with you 50/50? I get to make more within the 3 months AND keep the hardware. You're basically asking for free stuff here. Obviously math wasn't your strong suit in school, so I'll explain. Presumably you pay a bill to Allinvain? If you have S5s or Neptunes, you're underwater, you're paying more to host then they mine. I'm offering you a way out. You'd get more from that deal than the selling price on the forums these days. Here is the "math" you're referring to, then you can explain how "math is not my strong suit in school". Hosting at 0.06$/kWh on a S5. 1300GH/s, 650W. We're doing OC because there's no efficiency loss. Profits are 50$~ per month right now, cut in half, thats 25$. Of course thats assuming the difficulty wont go up. And it will. 25$*3 =75$. Tell me where you see S5's for 75$. You're flat out trying to rip people off. Don't kid yourself. From a bitcoinwisdom... 1300GH/s is $52/month 650 watts at 0.06 cents in a 30 day month is $28 So your profit is $24 a month (not $50 as you state above) I'm offering $26/month (which is more than you currently make) Difficulty will keep rising, you are a 25% away (roughly) from being underwater. However, you make a good point, I'd do five months on an S5, same deal, 50/50. |
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No, I'd use GND in Labrador as escrow, they'd be hosting.
Right, so i can have my miners hosted with let say Allinvain, why would i share the profit with you 50/50? I get to make more within the 3 months AND keep the hardware. You're basically asking for free stuff here. Obviously math wasn't your strong suit in school, so I'll explain. Presumably you pay a bill to Allinvain? If you have S5s or Neptunes, you're underwater, you're paying more to host then they mine. I'm offering you a way out. You'd get more from that deal than the selling price on the forums these days. |
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If he wants cash now, I'd do 8K but that's probably the best I'll do. Too much risk of another difficulty spike.
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No, I'd use GND in Labrador as escrow, they'd be hosting.
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I would host with GND down the road with you guys on the 50/50 offer. I'll extend the offer to four months. That would be (depending on price and difficulty) over 10K - I doubt anyone will beat that.
Well that would be convenient either way as the gear is already in Labrador so no shipping costs for you. So $10K USD for everything including PSUs is your offer, correct? If so I'll pass that on. Sorry - my offer is half of mined revenue over 4 months, which I estimate will be over 10K. GND will ask as escrow. Yes, I'll arrange pick up/shipping. |
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I would host with GND down the road with you guys on the 50/50 offer. I'll extend the offer to four months. That would be (depending on price and difficulty) over 10K - I doubt anyone will beat that.
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20K is rediculous. I offered 2k and got mocked. Seeing as no one has offered anything different, why not ask this guy what he wants? If it's 20k were all wasting our time.
I'd also split revenue with him for three months on these, I pay power costs.
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If you have old (but not too old) gear - I'm interested in splitting mining revenue 50/50 for three months if you ship it to a trusted third party hoster, then I'll own the gear after that - I'll take care of the bills with the hoster.
Drop me a line. I'm thinking SP3Xs, S5s etc.
S5 earns for 3 months in the best case 0.27 BTC (in fact, much less) , what do I need to share with you. I get in my hands 0.135 BTC for S5 (in fact, much less) How stupid do you think I am ? Buy from me S5, and ship it where you want. I cover the power and use a trusted hoster. If someone is willing to pay you more than the S5 will mine, obviously you should take their money. |
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If you have old (but not too old) gear - I'm interested in splitting mining revenue 50/50 for three months if you ship it to a trusted third party hoster, then I'll own the gear after that - I'll take care of the bills with the hoster.
Drop me a line. I'm thinking SP3Xs, S5s etc.
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I'll give him $2000 for the lot if they work as described and I'll arrange shipping.
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My advice is to make sure how much electricity you have. It would be important not to overbuy on gear. i would advice on electricity run 240 to save cables, also it's much nicer to have all that power there if you need it.
Also ventelation you will need to find some way to cool it down. With winter for a lot it will help a lot. But be aware cooling down the mining area most likely is needed.
Sage advice. I over bought equipment on my first mine and was shocked at the heat output of just 10kW. |
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FYI Jamphone this would have been a lot easier if you provided some data to work with so we didn't have to spend time pulling it ourselves!
Sorry - I was watching it hop over $500 for a few minutes - didn't even occur to me to bring data off the bat, but of course I should have. Thanks! |
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Totally hear you there about principle. Do you have any historical data which shows other exchanges/market rate(s) going above $500 USD?
Thanks,
A lot of historical data is available, Bitcoinwisdom and BitcoinCharts has Bitstamp, itBit and Bitfinex crossing $500 USD on November 4th. Coinbase hit 499.85, so obviously close. Bitpay apparently uses a basket, but its confidential so we'll never know what weighting each exchange got. |
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The resolution will be 'No' if it never crosses $500 by EoY, which is different than cancelling the bet. The metrics the host has chosen are legitimate, and we can't nullify it because someone 'said they saw it'. Think about a court room where you have a murder victim with a suspect but no murder weapon. The suspect goes free unless proven guilty. The same thing applies here. We have no concrete evidence to resolve "Yes". Likewise, we can't just 'end his trial' without hearing all evidence. In this case, Bitcoin is below $500 (as evidenced right now). Therefore there will be an outcome here unless Bitpay shuts down.
I am sorry as you may be correct. But we cannot pick your side without seeing valid proof, or it will seem unfair from the other side (those 'who never saw it go above $500 - no way!')
Adam
I'm a lawyer and am well aware of how a court works. (Edit: For arguments sake, civil courts operate on a "balance of probabilities" standard, which in the absence of historical data would be the price on other exchanges. So I would win in court.) So we're all straight here: because Bitpay refuses to give me historical data I lose by default. I would be satisfied if you agree not to pay out the "no" side unless they can prove it didn't cross $500 as well by providing historical data. Otherwise, this simply isn't fair. BitPay's price is based on internal factors that they are unwilling to share, hence why they won't show the historical data. In retrospect, the creator picked a really dumb metric. Further edit: thank you for explaining yourself! I do like your site and am hoping we can sort this out. I think I bet $7 on this... but its the principal! |
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Sorry Jamphone - we can't just decide bets because 'someone saw it'. We didn't see it; and there's no other evidence presented that it did in fact happen..
Just to be clear; it's possible that it did in fact happen, but without valid proof, the next person will say 'No it didn't happen'. Who's right then?
So therefore - you should annul the bet. Otherwise it is unfair. The creator did not choose a metric with historical data. What is the other option? By allowing it to continue - and on Dec 31 going "hey, nobody saw it cross $500" - you've already told me you've decided it didn't happen. |
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