Another question answered already. By KnC themselves. Posted on this thread too. Can you read? Or do you just pop by every now and then to stir up some pointless crap? Oh - did they? Got a link to the post? I missed it. I'm curious as to what their reply was - they never replied by email. |
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KNC said they didn't need any help. They modified CGMiner themselves. |
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Right now, the closest fit would be Centibits in many countries and Microbits in Japan. There is some discussion against using the words "cent" since it is related to dollars. At the current GOX exchange rate of ~$145 USD/BTC:
1.00000000 Bitcoin = $145.00
10.0000000 Decibits (dɃ or Decks?) = $145.00
100.000000 Centibits (cɃ or Cubes or Qbits?) = $145.00 = €110.00 = ¥845 (Yuan)
1000.00000 Milibits (mɃ or Mills?) = $145.00
10000.0000 Microbits (μɃ or Mikes?) = $145.00 = ¥14,450 (Yen)
100000.000 Nanobits (nɃ or Nanos?) = $145.00
1000000.00 Satoshis (sɃ or Sats?) = $145.00
In the US and Europe we should refer to them right now as Centibits since that is closer to what a unit of local fiat is worth in Euros or Dollars. In Japan, they should refer to them as Millibits right now since that is close to what a yen is worth. Once a currency goes over 1000 of the current unit, we should move to the next scale down so you can keep track of the relationship with your local fiat currency.
This may actually help adoption too as people are more likely to buy 100 cɃ with $145 than 1 Ƀ even though it is the same thing.
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Okay however with that being said. Are they still going to honer the paid orders that are currently in place and by what time. All that has been said is about there other 2 miners.
Of course, everything will ship out in the order paid, including the Mercury's, which means no later than 15 Oct. |
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You know something makes me wonder. Mercury has now been discontinued. I wonder why. It sold out quick.  They don't want to deal with thousands of small-time customers. With the price cut, the price would have been low enough to attract tons of buyers that would have cost them too much time in customer service. |
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Competition could force them to reduce prices but buyers falling over themselves to buy at current pricing is going to limit how far they reduce prices. I don't see anyone falling all over themselves anymore. 6 months ago, 3 months ago sure but a couple months is a long time in Bitcoin lands. At the recent offerings xcrypt - unlikely to have sucessful IPO IceDrill - scaled back from 500 TH/s to 250 TH/s. HashFast - still hasn't sold out of initial batch of 220 TH/s KNC - never sold out of Oct batch. Ended up cutting prices 30% for Nov delivery to stimulate sales. Cointerra - announced 2 PH/s weeks ago and no indication they have sold out despite cutting prices 16% to $7 per GH/s. Now this is all for delivery in 2013. The math gets even worse in early 2014 when the network is >6 PH/s. I don't really see >$10 GH/s flying off the shelf in early 2014. Even if it does we are looking at 15 PH/s or so by mid year so late 2014 looks even worse. Even if the exchange rate doubles, if hashing power quadruples then ROI% will look WORSE then then it does today and today sales are slowing despite falling prices. As for exchange rate going to $1K per end of 2014 well that is just a pipe dream. The price of coin and the price per GH/s of the miners is tied to the network hash rate. You can't say what the network hash rate will be without also making a prediction as to what the price of Bitcoin will be and what the price per GH/s of mining equipment will be. I think you are spot on about the network hash rate in 2014 with the current price of equipment and price of Bitcoin, but it will be much higher if the price per GH/s drops a lot or if the price of Bitcoin goes up a lot. They are all related although there may be some lag. As far as falling over themselves to buy equipment, I was referring to what will happen if when the price of Bitcoin skyrockets. |
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$10 GH/s by the end of 2014.
There are already units offered at less than that. Cointerra is $6.99 per GH/s. If you believe that Cointerra will be successful and if you believe that the price of BTC is going to stay under $150 then my $10 estimate wouldn't make any sense. Well even KNC batch2 (Nov) is down to $11.50 per GH/s. By the time every company has paid off their NRE and delivered their first batch of hardware difficulty is going to be much much higher, and there likely is little appetite. $10 I think is unreasonable. Anyone offering $10 per GH/s in early 2014 is likely not going to see a sale. by mid or late 2014 it is going to look downright silly. The marginal cost of production is closer to $1. Given finite economical capacity and multiple competitors it is kinda hard to believe that 1000%+ margins will be sustained. If Bitcoin is $500 by mid 2014, and a person can earn 10 Bitcoin with the miner over a reasonable period of time, they will be willing to pay somewhere close to $5000 for it. If you can mine 10 BTC with a 500 GH/s miner and the price of Bitcoin is $500, then the price per GH/s a miner will be willing to pay will be ~$10. Miners haven't proven themselves very good at math so far. If manufactures want to shoot themselves in the foot by drastically reducing price per GH/s, they have the margins to do it but I think they will determine the price by what they think people are willing to pay, not what it costs them to produce the miners. Competition could force them to reduce prices but buyers falling over themselves to buy at current pricing is going to limit how far they reduce prices. If the manufacturers are as bad at math as miners are, you may be right and they will reduce prices right down to the point that they fail to make a profit and take the miners right down with them due to the higher network hash rate. I personally hope it doesn't get to that. They should reduce the prices slowly over time once they are able to deliver within a few days of a a buyer placing an order. This will mean higher profits for them to develop the next generation and really it will mean higher profits for miners because the network will not grow as fast. $500-$1000 Bitcoin and $1/GH/s just doesn't make sense to me. |
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I am predicting March of 2014.
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$10 GH/s by the end of 2014.
There are already units offered at less than that. Cointerra is $6.99 per GH/s. If you believe that Cointerra will be successful and if you believe that the price of BTC is going to stay under $150 then my $10 estimate wouldn't make any sense. |
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$10 GH/s by the end of 2014.
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Adjust that to 450 from 400 and things change radically (and the way KnC are talking we could be seeing closer to 500). That's looking like it may be the real picture. I'd say although you may need the money you'd be wise to think hard about jumping ship when exchange rates and hash rate of the rigs could rise and the projected difficulty shown on that calculator are so pessimistic long term (see many wise posts about the unlikelyhood of it rising so much ).
We're always exposed to difficulty risks, it's a risky game to play. Even buying BTC could wipe you out. That's why the rewards can be so good.
KNC wrote: "greater than 30% performance increase " that is more than 520 for a jupiter. It's strange to me that this announcement was almost completely ignored here! Performance of CGMiner doesn't necessarily translate into more GH/s. It could be related to how hard the internal Linux controller has to work running CGMiner. This doesn't necessarily mean that it results in more GH/s from the system. Also, if it does, this may have been why it went up to 400 GH/s in the first place. I call BULLSHIT on that; Pure & simple. If that's what you think they meant, you may want to see a doctor. "Justanick is correct in his thinking" I have posted on this thread only a couple of times and each time, you jump all over me for no reason at all. If they meant the performance was going to increase to 520, don't you think they would have said that? While that may yet happen, that wasn't the announcement. |
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Adjust that to 450 from 400 and things change radically (and the way KnC are talking we could be seeing closer to 500). That's looking like it may be the real picture. I'd say although you may need the money you'd be wise to think hard about jumping ship when exchange rates and hash rate of the rigs could rise and the projected difficulty shown on that calculator are so pessimistic long term (see many wise posts about the unlikelyhood of it rising so much ).
We're always exposed to difficulty risks, it's a risky game to play. Even buying BTC could wipe you out. That's why the rewards can be so good.
KNC wrote: "greater than 30% performance increase " that is more than 520 for a jupiter. It's strange to me that this announcement was almost completely ignored here! Performance of CGMiner doesn't necessarily translate into more GH/s. It could be related to how hard the internal Linux controller has to work running CGMiner. This doesn't necessarily mean that it results in more GH/s from the system. Also, if it does, this may have been why it went up to 400 GH/s in the first place. |
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Mongoose PHP Bundle takes about 5 minutes to get working if you just need something to test with. Not sure if it would work to run a full website.
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Looks like the estimate might be a little low.
bitcoincharts.com = Network total 672.653 Thash/s
That's the rate over a very short period which could include some luck. We will have to see it it holds. Currently showing 702 TH/s. 7 Day average is still about 550 TH/s. |
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The network speed fluctuates a LOT. Any idea why?
The graphs show the "estimated" hash rate which is calculated with math using the time is takes to solve several blocks. There is no direct measurement of hashing power. It's just a calculation, so it shows the hash rate going up and down because math only matches reality over a longer term. There is "luck" involved in the short term. If they took the measurement over more blocks, it would be smoother. |
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7 Day average is now 525.72. Its looking like the projection was pretty close...
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If somebody was offering to sell me a 23xx order, what do you think that would be worth in btc?
The same price as one on the website. I don't think he'll go for that. The several months he paid ahead must be worthy something? True, it will make about 25-30 coin during the extra 2 or 3 weeks you will have to wait if you order now. Website price plus 25-30 BTC would be a wash so somewhere in between? |
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If somebody was offering to sell me a 23xx order, what do you think that would be worth in btc?
The same price as one on the website. |
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"Under-promise, over-deliver."
+1 This really is their slogan... |
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