With the skyrocketing hashrate, the need to have a huge miner farm to mine effectively, and the excessive cost of miners, one might compare such an investment to buying a Segway to collect deposit soda cans off the roadside and expect to pay off the debt faster than interest on the loan needed to buy the Segway.
Borrowing money to buy a miner would be the height of foolishness. |
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It's true that if say price of XBT doubles or triples, currently unprofitable mining operations can suddenly become profitable.
This is a fallacy. If you buy a 1 BTC miner and it will make you 0.8 BTC over it's lifetime, your profit is -0.2 BTC. Of course not everyone buys miners with BTC. If you buy a $1000 miner with dollars, and mine 10 BTC @ $110 each, sell them, pay your fees, electricit etc then you break even, if you mine 10 BTC @ 150 each then you make $500 or so more. Your example is wrong, let me help you. Right now you can buy 1 BTC @ $100 or you can buy a $1000 miner, and mine 8 BTC @ $130 each, sell them, pay your fees, electricity etc then you break even, if you mine 10 BTC @ 200 each then you make $600 or so more. If you buy 10 BTC instead, you will profit $300 and $1000 respectively when the price of BTC hit $130 and $200. My example isn't wrong, I'm not talking about buying BTC and selling it, I'm disagreeing with the statement that you don't earn a profit if the price of BTC goes up. You can't earn a profit in BTC if the price goes up IF you paid for your miner in BTC, but if you payed cash for you miner and you sold your BTC at a price that earned you more than you spent on the miner then you are quids in. |
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It's true that if say price of XBT doubles or triples, currently unprofitable mining operations can suddenly become profitable.
This is a fallacy. If you buy a 1 BTC miner and it will make you 0.8 BTC over it's lifetime, your profit is -0.2 BTC. Of course not everyone buys miners with BTC. If you buy a $1000 miner with dollars, and mine 10 BTC @ $110 each, sell them, pay your fees, electricit etc then you break even, if you mine 10 BTC @ 150 each then you make $500 or so more. |
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Always use Paypal on ebay.  |
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BITCOINORAMA, since it seems you are the UNOFFICIAL KNC rep, and I think some of us here on the forum also find you are OUR UNOFFICIAL rep as well....
<snip>
anyhow BITCOINORAMA, it seems that you are THE VOICE....
If you are going to repost that every 30 minutes I may have to ignore you :p |
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I have pretty much made up my mind. If i do not get shipping information on my order this week. They will have two options, ether offer some sort of compensation for delivering late, Or refund me if they do not, I will be contacting PayPal. And if they do not let me refund. then i will go straight to my credit cards. Witch as Amex and discover. And wont take no for a answer on a refund. Witch I'm going to almost guarantee ill have to go this route unless they pull off a miracle . Since my order was not placed until July 3rd. So they got some ways to go to get to my order. And i have already let KNC know this is my plans of last week. Of course i have not received an e-mail back. "First time they have never responded" But shortly after my e-mail my order did go in to progress. Along with everyone else. Witch is another reason why i think this is a stall technique.
I think I will ask for a refund too if they don't ship by next Thursday. I could use the money to invest in another company, like Hashfast. Its like black magic... |
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300X order, paid July 11, in progress.  One more week to ship??  My order was paid June 25 and just went to "in progress" yesterday. 36X day 2 and has been showing this for the last 6 days: Status:In progress Comment: This order has been scheduled for Shipping on day 2 of production |
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I've got news for ya... I've had a few savvy IT peeps trying to get the miner just to run... using teamviewer & other interfaces.... Ya know who got it to run...?
I did... from info shared in here, bit by bit...... amen
Ok couple of questions/comments. 1. Whats the ip address, subnet, dns server and gateway settings of the computer you are using to connect to the miner? 2. Whats the IP address, subnet, dns server and gateway of the miner? If you have a dhcp server on your network it will automatically hand out an IP address to the miner, at the same time it will setup the subnet and gateway. If you don't have a dhcp server on your network then everything has to be setup manually, you would probably remember if you had to setup your computer manually. Suffice to say that in most home situations the only thing different on all the devices will be the IP address, the subnet and gateway and DNS settings will all be the same. The good news is that you can copy the Subnet/Gateway/DNS settings from a working device to one that isn't setup correctly. Just don't copy the IP address, use the same ip range but make sure the last two digits are unique for each device. In order to talk to each other, given there is no router in between them they need to be in the same Subnet and IP range. Another thing to watch out for is any proxy server settings in your browser, if there is one setup then it may make it problematic to connect to web interfaces on devices inside your network. |
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No extra options tho
Not surprising really, the 280X is just a 7970 with no voltage control |
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ok, so I can see the ip address on wireshark, dos ipconfig, and in adapter settings... but when plugged into the browser...nada
ill donate my first btc to the genius who fixes it
You have to have your machine on the same IP range as the Jupiter to be able to login to it. Also make sure your browser doesn't have a setup for a proxy server in settings, otherwise you won't be able to connect to a web server on the inside of your network. |
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I've made the mistake of thinking on a 12hr clock in 24hr clock land. Almost missed my train. the word " Lunch" (with general Bitcoin-related discussion), could have been a hint.  Plus the fact it was a week ago.. "Bitcoin Wednesday is a global meetup event scheduled for the first Wednesday of every month. " |
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Maybe they should make a smaller machine, a entry level miner.
To follow with the Gas Giants theme- Uranus by KNC
If Jupiter hashes at 550GH, Uranus should produce approx 195GH.
The originally did have a 100GH miner product called Mercury with just one chip. But they decided not to continue with it, I guess because they felt it wouldn't be profitable for the buyer. https://www.kncminer.com/news/news-33 |
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I was thinking of driving if I could get my hands on an order  |
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I'll carry one for you CYPER |
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Why do you want a miner? Most of them are loud and ugly electricity wasters that will never pay themselves back.
I thought to mine Bitcoin you need a miner? How do you mine your bitcoin? Or do you just buy Bitcoin and sell when the price is good? Thats exactly what he is saying. I think that the only way to make money from mining is if you already have a ROI on hardware and then sell it to fund your new hardware. Or if you had hardware that you used for something else and also mined on it. The last option is that you do it for fun, or to altruistically protect the network  It also depends *when* you get your hardware, you can't make money on hardware you have paid for and is depreciating rapidly and becoming less likely to earn money every day you wait for it! Thats what people who mined on GPU's did, they either got in early enough to get their money back, or had the hardware for gaming anyway. Then many sold their GPU's to get either USB Erupters or Blades to get better performance for less power usage. Now they are selling that hardware to fund the next generation of equipment. All to try and stay ahead of the difficulty curve and hope that Bitcoin values go through the roof. The same people may also have invested some of the bitcoins they mined into the new hardware as well, or cash. The other option is perhaps less risky. Instead of spending $5K on a miner now that doesnt get delivered until November, spend the money on buying Bitcoins now and hope they go up in value. The fact that bitcoins need to go up in value to make the miner pay for itself means there is perhaps less risk in buying coins instead of mining them. Of course there is risk in both. |
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