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264
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Other / Meta / Re: Becoming a Sr Member soon!
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on: December 03, 2014, 02:51:53 PM
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congrats and waiting for you in Senior members club
it should happen on 8 or 9 Dec
btw you need 480 activity to become a hero member
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270
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Economy / Speculation / Re: Will it reach 400$ soon?( Reached!)
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on: November 13, 2014, 07:48:32 AM
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Off What if bitcoin rises 500$ while i sleep, and when i wake up it's at $400 again? How the hell do i sleep  Just set a your btc to sell at 500$ and buy at 400$.. instants gain of 100$ if it happens.. |
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274
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Economy / Speculation / Re: One year ago...
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on: November 09, 2014, 06:05:31 AM
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Bitcoins? Buy! Buy! Buy! Without Hesitation!
Already bought all the bitcoin I want, actually bought too early  ... |
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275
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Bitcoin / Mining / Re: Pix of one of the largest Bitcoin mines
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on: November 09, 2014, 05:47:54 AM
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The Chinese people who paid for that farm are fools. The time for profitably mining bitcoin is so over with. 39 billion difficulty is insane. DAMN do I wish I knew in December 2008 what I know now about bitcoin and mining and the spikes and dips in its price over time and all that! I'd be a BILLIONAIRE now! Dammit dammit dammit!!!!!  Not if they have dirt cheap electricity. Its still profitable for them... |
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277
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Economy / Economics / Re: bitcoin mining cost
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on: November 09, 2014, 05:37:17 AM
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Keep in mind you're looking at this like an investor and rightly so you won't profit true.
But entrepreneurs take risks too I'm only highlighting the situation that a bad investment will still never ROI but continue to support Bitcoin by mining.
I don't think many miners will continue to support the security of the bitcoin network by continuing to mine. This is not a rational activity as they would essentially be paying money to secure the network (via paying more in electricity then the worth of bitcoin they mine). Also the network is already more secure then it realistically needs to be right now based on the transaction volume I'm not sure you read my earlier posts, I'm saying it's rational to continue mining so long as your operating costs are less than your income even if you never earn enough to pay for your hardware in the case where you have paid for your hardware from savings. lets say I spend 10BTC (cash - no interest due) to buy a few miners. That is a sunk cost. If I never get a return on that 10BTC by mining (ie. A bad investment) it is still possible to carry on if my operating costs are less than my income. At the moment many miners have an operation cost around $130CAD per BTC, some won't earn enough to recoup the investment in hardware, but given the hardware is fully paid, quitting now when the price is $380CAD is premature. They are in the red but plowing on is better than throwing $250 away by stopping. In a way you are right, but you should also think of the resale value of the miners. If your net profit is really low then you should actually sell off the miners when the value is higher. It also seems to me that bitcoin miner value drop about 1/3 every month. So if you think your profit in a month is less then 1/3 of your hardware price then you should consider selling it off... |
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279
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Other / Beginners & Help / Re: New to mining and looking for some info!
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on: November 09, 2014, 05:32:09 AM
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Hi,
I am very new to mining and just have a simple question.
If you are using an AntMiner, do you also need to use mining software like cgminer or BFGMiner?
Thanks in advance.
Matt
Well, you don't need to download any additional mining software because antminer already comes with it. You just need to setup the pool you want to mine and don't forget to set failover pool just in-case the first pool is down. |
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