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781  Economy / Securities / Re: AMHash1: Cost-Effective Mining Contract on: February 07, 2015, 08:22:35 PM
Had to do some of the macros for someone on another thread, thought you'd like have a look at it DARKANGEL6415:

Doubling the current difficult would require the additional usage of 26,9565 Bitman S5 ($413 plus PSU plus extras $600) units or their equivalent alternatives.

This would require $161,739,130 this year up front, plus not a single old unit must be decommissioned, however at 44 billion difficulty most of the old 1.2 watt units had to shut off  Grin

Therefore, if difficulty doubled, most 1 watt units would have to be shut down and therefore another $161 million would be needed to replace them as well; net $322 million up front costs  Shocked

Current Bitcoin price $225 makes this level of new investment impossible, because the profits per Bitcoin are insufficient to fund such investments.

Annual production of BTC this year value at current prices (3600 times $225 times 365 days) $295,650,000.

Most Bitcoins are never available to buy, under 30% reach the open Fiat Currency exchanges, which will be under $88,695,000 to fund hardware, labor and electricity costs. Nowhere, near close enough to fund the doubling of network hashpower.

QED. Difficulty will not double this year, but stay under 50 billion difficulty range  Shocked Roll Eyes Grin

And

It is a clever piece of macro economics included in Bitcoins and other crypto currencies, to increase difficulty you have to increase capital expenditures up front. This is very cheap at the beginning of the process of establishing a crypto currency, but it becomes ever more expensive as doubling of difficulty reoccurs. Therefore, people can accurately forecast the future difficulty on the basis of price expectations.  Roll Eyes

And, yeah this implies manufacturers like AMhash will be there in 2016 Wink

wow awsome i actually enjoyed the read and i even felt a little bit of a tingle of joy as i read this and looked at the numbers. Now granted not all old units will be shut off i know someone who runs a few dozen jalapenos miners. He does this at his college housing where the power and internet are all free since you pay for them in college price. Maybe amhash will find cheaper power or maybe havelock will get cheaper rent or taxes meaning lower fees lol  Grin
782  Economy / Micro Earnings / Re: [Beta] MyBitMine.co | New Type Of Faucet | Get Bitcoin From Playing on: February 07, 2015, 08:14:46 PM

dam i like that stats i wish i was close to that, how much time do you get in between each captcha that you need to reneter on to the site to keep on mining ?  Huh

mine is 1 hour 37 min 30 sec

dam that is pretty nice set up so that is not bat i myself am right now at 61 minutes betweens each captcha that i got to enter to the system, i wonder if i should stick with chambers or equiptment upgrades. I also am debating if i want to buy more gold ores vs more miners / carts for the 5 miners
783  Economy / Exchanges / Re: Bitcoin debit card on: February 07, 2015, 08:08:09 PM
Why do we need a physical debt card? Couldn't we just all use our i-phones?

lol i would 1st of all never use any service that stores card information on file like iphone to pay for stuff even for credit cards where i have some protection from unlawful usage. 2nd of all i dont even have a smart phone iphone or android lol i got old fassioned dumb phone  so that leaves me with the actual debit card itself.
784  Economy / Exchanges / Re: [ANN] BIT-X.com | Exchange BTC, LTC, USD, EUR, GBP | Instantly Mine & Trade GH/s on: February 07, 2015, 08:04:29 PM
Just from curiousity if you don't mind answering me Marcotheminer , I'am on Bit-x Signature compaign (Obviously) last month when you paid us I saw Withrawing using Cryptoo currency to withraw to my Personal BTC wallet and another option to Withraw Fiat , but I guess there is some kinda of verification needed to do that , if so ... what should we provide as Verification ID Card photo ? Also what are the rates for Withrawing BTC to Paypal is it 1:1 ?

~ Madness

To learn about verification just visit the relevant page here: https://bit-x.com/account/verification

Withdrawing fiat depends on the exchange rate which you sold at.

Alright I see , so there is some real informations that are needed like Copy of ID (front and back side) and Residential Address , One more question ...
I live in Algeria , and my ID is basically in Arabic and french . It's going to get verified or there is no chance unless it's in English ? THank you

~ Madness

You should submit it with a translation if possible. Otherwise submit it as is and wait for further instructions.

i dont understand why all this delay, i am dying on the inside lol literraly i am unpatient person haha, but i really want for the Visa card you all said was going to come out in March 2015 to come out sooner. It is so hard waiting for all this time, i really hope the card will be sent to people in the USA with customers name on it " maybe extra charge like $5 " for those who want names on it, or no name like some people seem to want. I hope you all dont pull a xapo or Bitcoin debit card " www.e-coin.io "  and be like oh we cant ship to the USA due to regulation. I hate it when Xapo tells me they cant ship to the USA due to regulation against the USA but the say got a office in California, the currency is in USD so im lost. Yet on the other hand other cards like ANX Premium Mastercards are sent to people in the USA from Hong Kong but they got some issues i dont like
785  Alternate cryptocurrencies / Altcoin Discussion / Re: Paycoin (XPY) = Federal Reserve on: February 07, 2015, 07:56:45 PM
I don't think they will make it through the year of rest.

Down, down, down and the flames went higher....



i tell you what i have heard of explosive diahreah from them cheap burritos at the gas stations but this takes it to a whole new level, but i bet this is what the ass of alot of paycoin investors feels like
786  Economy / Securities / Re: AMHash1: Cost-Effective Mining Contract on: February 07, 2015, 05:48:15 PM
At least FC is squeezing the competition a bit. I'm afraid though: Compared to, say, KNC and Bitfury, we're the next ASIC/cloud-mining company that would go down if this streak continues. Well, at least AM has access to own hardware and can continue to self-mine. I don't think a depressed BTC price will kill them necessarly.

Price may around this level all of 2015 and only the block halving in 2016 will cause it to increase Roll Eyes

Looking at the network hashpower, it looks like all the 1watt and 1.2watt mining equipment (some may be farms) is still functional, even when it is not switched on for mining Shocked

Whenever, the BTC prices goes above $220 these farms and equipment are switched on - mine some BTC and immediately convert it into Fiat Currency, which causes the price to head back downwards below $219.

Therefore, their is still 362PTHs network hashpower, but it is only switched off when BTC is a below certain price benchmarks.

Around 362PTHs around $245 plus
Around 310 PTHs around $220 plus
Around 250 PTHs around $200 plus

Consequently, network difficulty will have to be held around 41500000000 right up to the block halving in mid 2016 Shocked

Obviously, when the block reward is halved mid 2016, the 1watt and 1.2watt mining equipment will need BTC price of $400 before being switched on, so price will definitely climb alot Grin  Wink


while i hope your logic is correct i got 1 thing to say ............ 2016 is so far away i want the block halving to happen now lol, i hope amhash is around for 2016
787  Economy / Service Discussion / Re: HASHNEST Discussion and Support Thread on: February 07, 2015, 04:44:34 PM

sigh i got all excited for nothing when i seen s5 finally coming i was all eager to see price and maint costs
788  Economy / Service Discussion / Re: HASHNEST Discussion and Support Thread on: February 07, 2015, 02:35:52 PM
BUT extreme risk can yield extreme rewards.... spend what you can afford to lose.

so true
789  Economy / Service Discussion / Re: HASHNEST Discussion and Support Thread on: February 07, 2015, 02:15:50 PM
Maybe I am doing my math incorrectly but why the hurry for S5?

S4 is 4 times the cost of Umisoo right now. The difference is 20% on the fees.


I am having trouble seeing why pay more for S4 or S5?

In the long run UMISOO is a better guy since its much cheaper with the fee difference not making up for it. HOWEVER, the way bitcoin price has been and difficulty coming up I think people are scared with UMISOO. On top of a lot of negative payouts assocaited with UMISOO although in the long run it will be positive (in theory 10% or so atm)

that is true and valid points now while i cant speak for anyone else i can answer for me and i must say you are correct while it is cheap, umisoo scares me thinking of difficulty raise and the current negatives
790  Economy / Micro Earnings / Re: [Beta] MyBitMine.co | New Type Of Faucet | Get Bitcoin From Playing on: February 07, 2015, 02:03:03 PM
Worker details
 Workers: 10
 Mine carts: 2
 Pickaxe level: 12
 Equipment level: 3

Mine details
 Gold ores: 5
 Iron ores: 4
 Coal ores: 2
 Gem ores: 2
 Chambers: 9

Anyone got better stats than me? :p

Worker details
Workers: 10
Mine carts: 2
Pickaxe level: 15
Equipment level: 5

Mine details
Gold ores: 4
Iron ores: 3
Coal ores: 1
Gem ores: 1
Chambers: 12

Sorta kinda tied I would say.

dam i like that stats i wish i was close to that, how much time do you get in between each captcha that you need to reneter on to the site to keep on mining ?  Huh
791  Economy / Micro Earnings / Re: [Beta] MyBitMine.co | New Type Of Faucet | Get Bitcoin From Playing on: February 07, 2015, 02:01:51 PM
Earnings have stopped again. Not receiving any gold or iron.

Is it up again now?

it is working just fine for me
792  Economy / Exchanges / Re: Bitcoin debit card on: February 07, 2015, 01:34:14 PM
Maybe I missed it somewhere.

If we order a card now the USD one can it be converted to a EUR/Multi later on?

If you order the USD one now, it will remain a USD card, can't change the physical piece of plastic later. You will be able to order the EUR one rather soon and the multi-currency one a bit later. The benefit of getting the USD card now is that it costs $10 while in beta, whereas when the other cards are released and we move out of beta, the price of the card will be $17

Thx ordering one now. Damn BTC blockchain is slow it took more than an hour to get the funds there.

lol yeah the blockchain has always been notorious for being slow, i often told myself maybe as time passes and network gets bbigger maybe then might be slower but nope  Cry
793  Economy / Exchanges / Re: Bitcoin debit card on: February 07, 2015, 01:27:07 PM
Maybe I missed it somewhere.

If we order a card now the USD one can it be converted to a EUR/Multi later on?

If you order the USD one now, it will remain a USD card, can't change the physical piece of plastic later. You will be able to order the EUR one rather soon and the multi-currency one a bit later. The benefit of getting the USD card now is that it costs $10 while in beta, whereas when the other cards are released and we move out of beta, the price of the card will be $17

WOW i for some reason thought you could have the card be EUR or USD and then later on if needed be turned over to different currency
794  Economy / Service Discussion / Re: HASHNEST Discussion and Support Thread on: February 06, 2015, 03:20:39 AM
Is trading open?

BTC/USD is dropping like a stone but hashnest market isn't moving at all.

Will be over 100% maint again soon.

Yes, is open. But very quiet..


dam come on bitcoin get stable footing in the $310 range like it was last week, will make the hashnest options alot safer i like the umisoo i dont know why i thought they was based of s3
795  Economy / Service Announcements / Re: [ANN] ANX: Your Ultimate Crypto Trading Platform on: February 06, 2015, 03:18:21 AM
I would recommend you to create a new thread that can be modified. Not to delete constructive critics but just to have some control when needed.
That's a good suggestion, perhaps we will.  We were hoping for all this off topic stuff to die down and be moved elsewhere.  Problem is then these people might have even more of a reason to bash us, claiming self moderated topics = we have something to hide.

thats the world we live in as sad as it may be alot of people will form negative opinions, to much chatter on the forum then you a bad company like gaw / paycoin. If you have no traffic then people will say you are dead like hashie or mt gox sections
796  Economy / Service Announcements / Re: [ANN] ANX: Your Ultimate Crypto Trading Platform on: February 06, 2015, 03:16:23 AM
I'm about to receive my ANX Plus Debit card soon (I received and e-mail from ANX support telling me it has been sent), and having just read here that it's a UnionPay card was a bit of a disappointment and a worry.

I did a bit of googling and found that China UnionPay has a page at the link below where you can select your country and find some information that might be of use, including a support hotline. The "Merchant Search" functionality was useless for me (partially translated, no results), but there's a decent summary in the "Tips" section

http://en.unionpay.com/englobalization/list_englobalization.html

As far as I'm concerned, being in Switzerland, it appears the only merchants where I'd be able to use a UnionPay card would be located in tourist destinations (Luzern, Interlaken, Geneva,...) where chinese clients like to buy their watches and other luxury items; litlle hope for buying groceries or fuel, as I was planning to.

One piece of information I would need from our friendly ANX guys in the forum is with regard to the ANX Plus monthly fee: https://anxbtc.com/pages/#/card-compare states "Free for first 12 months" under the heading "Monthly fee", but I'm unable to see how much will this monthly fee be after 12 months.


Hi calagan,
First off, sorry about this union pay problem! Sad

To answer your question, agtrt the first 12 months with an active ANX plus card, the fee will be 5 HKD pet month, which is a bit below $1 USD.  Hope this helped!

Cheers
Monbux

mmm thanks for that information, will i have any fees after some time? I got ANX Premium Mastercard, if so what will the fees be

As far as I am aware, you should not have any additional fees. With the ANX Premium card, the only fee you should have is on ATM withdrawals, at 1%. The minimum charged fee is $3.

sweet thank you for the clarification on that, " well i think lol " since you did say you not 100% sure on the fees so dont want to get my hopes up and then boom large fees
797  Economy / Exchanges / Re: Bitcoin debit card on: February 06, 2015, 03:14:28 AM
I vaguely remember something about identity verification where we need to upload a picture of our ID on the site? But I can't find anything about now for some reason, how do we remove the 2.5k/year limit again?

Please send ID and proof of address to support@e-coin.io, we will add an option to upload documents in a few days

Do you have PGP key I can use? Sending sensitive documents unencrypted over e-mail is not such a good idea.

whats is that thing you talking about pgp is it some kind of encryption for emails or other files. Never heard of it and am on phone to lazzy to deal with wireless cellphone slow speeds  Angry
798  Alternate cryptocurrencies / Altcoin Discussion / Re: Paycoin (XPY) = Federal Reserve on: February 06, 2015, 03:10:37 AM
omg rate xpy down.
what happened this coin? Smiley
No buyback program and no merchant integration.
They also closed their cloud mining operation

This is exactly what was expected, anyone expecting different results from a company like GAW, their credibility went with the wind, the moment they stopped with hardware and started with cloud (air) mining.

i think i can sum it up in one word what happen to gaw  " GREED " they was a good company when they sold miners and stuff for them, but i guess they wanted to take more of a profit margin in
799  Alternate cryptocurrencies / Altcoin Discussion / Re: Paycoin (XPY) = Federal Reserve on: February 06, 2015, 03:09:15 AM
omg rate xpy down.
what happened this coin? Smiley
No buyback program and no merchant integration.
They also closed their cloud mining operation

they just seem to have shut down everything now, so if they shut down the cloud mining how will paycoin be supported for transactions or new creations. If there is noone at all then why is it still listed on exchanges?    Huh  Huh  Huh  Huh  Huh
800  Economy / Service Discussion / Re: Xapo.com Debit Card Not Working and Support Plain Sucks! on: February 06, 2015, 03:02:05 AM
i am glad the card is working for you but i am little bit lost why would the card not be working in your area? I thought the card was a Visa or Mastercard and i thought it had the customers name printed on it? Is this information not correct?
This has nothing to do with Xapo. Not a lot of shops accept VISA in my country, because it isn't a mainstream thing over here. Most shops here just prefer our own banking system, because the fee's are a lot lower and it's less of a hassle to accept it.

well i will be damed i learned something new here. I thought Visa and Mastercard was like the preffered cards for merchants world wide. Ok that does make me feel better was just weird when i heard that lol  Smiley
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