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Great answer, was honestly just wondering the rationale.
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What exactly is the point of buying this? The power is so low, it's pointless.
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I have received emails when I signed up for the chicago meetup from moriarty saying (just searched for them)
"Your Bitcoin Chicago Meetup Organizer,
Dr. Michael Moriarty"
There's multiple chicago meetups tho, so we might be talking about separate ones.
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Nope never seen him in person which is another reason why I don't really trust him. He seems to have his hands in a lot of stuff but his identity isn't well known which makes me skeptical.
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He's has a account here on btc talk. He is/was (can't tell) the organizer for the chicago bitcoin meetup which he seems to use to pump his many businesses (constantly sends out advertisements to us). He definitely seems like a shady business man that just trying to get a buck. I wouldn't trust $1 with him.
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KNC will be shipping 20nm in the Neptune supposedly starting this month. So to say that no manufacturer will isn't accurate but it isn't looking like a "US" manufacturer will.
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The only way you'll ROI in 3 months is if the $$ of BTC goes much higher. With your power costs, you'll currently be making ~ $26 a day. In 5 difficulty adjustments you'll be down to about $11.50 if you assume 15% diff jumps.
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Ordered a blade a couple days ago and got my tracking info last night. Just so people know it's legit.
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Jeez dude, I'm not trying to be a dick, settle down.
I never said you were trying to do anything except show how I was wrong, I was not trying to offend you either, if i did I apologize. This community is (I hope) about mutual assistance and not about telling people they are wrong. I am not perfect, I wish to be educated. My attestation is that 5Mh of scrypt mining hardware that costs $940 will recover its own cost and be profitable within a year (probably closer to 6 months) in the right hands. Using math and charts and trends please someone show me the error of my ways, because otherwise you are not helping me or anyone else in making an educated decision. I apologize if I implied that you were totally wrong. I actually agree with you that within a year you should easily ROI. Mining is definitely up for interpretation. I just didn't agree with the initial estimate mainly due to the specific example of doge. The block halving would throw off the initial time of 4.6 months. No ill will intended though. |
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Jeez dude, I'm not trying to be a dick, settle down.
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 here is a calculator showing straight up 5Mh on DOGE My math shows 4.6 months to break even $950 divided by $204 DOGE difficulty is falling not rising, so even if it were to double still would break even. (oh and the number I quoted was my mining 15mh so I forgot to divide by 3 for the 5mh example, in any case it still becomes profitable) Ok so there are a couple things wrong here. First you are linearly extrapolating that calculator. Ie. $204 each month for the next 4.6 months. That's not a correct way to use a mining calculator. For example, there will be a lot more hashing power coming online over 4.6 months that will increase the difficulty. Zeusminer, for example, is saying they will start delivering some serious hashing this month (if they actually come through). You also reference doge and the block reward is next scheduled to halve in ~60 days so 4 month profitability isn't going to be constant. The price would have to double. |
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Wow look at all that red in his trust rating!  Well, he's not not wrong. Stick a fork in Bitcoin...I BLAME CHINA! (as usual)  It's definitely lost some mojo but I certainly don't think it's dead. This isn't the first time we've see a bubble and a pop. It takes time to recover and some new catalysts to get it going again. Just because you aren't seeing 300% returns in a month doesn't mean btc the technology is dead. |
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80% loss lol. You must be the worst investor of all time. I like how you say you're moving on to other cryptos. If you think bitcoin is dead, do you really think any other crypto is gonna be any better?
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FYI everyone. Btcfarm.org has them for $950 with Paypal purchasing. I went ahead and bought one since we're still waiting for confirmations here. I haven't ordered from btcfarm before but I figure with Paypal, I can always put in a complaint and get my $$ back.
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Warning - last week I received from one Gridseed distributor all dirty units, full of dust, rust under fan blades, dirty boxes. This offer could be the same.
Be carefull.
That's because gridseed pre mines with their hardware. Most manufacturers do this so you usually are getting used "new" hardware. I've gotten dusty gridseeds and antminers. |
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Pretty good pricing. Hardware prices are in a huge deflationary spiral though...
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Has anyone ordered from the site and actually got anything?
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Ok, but your advice, should i consider to try to sell my 1.6TH CoinTerra, or just to upgrade with some more hardware and continue earn?
To answer your question, I don't know how much you paid for it but no hardware right now will ROI unless btc goes up in price. AKA just buy the coins, sell the hardware unless you just like mining as a hobby. That said, how do you drop thousands of dollars on hardware that you don't understand? This question should have been answered long before you bought the hardware. |
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I think its strange of KNC to refund more bitcoins than paid. People would hedge against KNC.
This is because while you pay KNC with bitcoin they are using bitpay, they get USD, so the refund is in USD. There is nothing strange there. The last chance we have to win something with this operation is asking for a refund to KNC. Getting the miners will be a total failure, we will never recover our investment because of the delay  Might be that they handle it that way. And what would they have done when the bitcoin price did not drop but raise? Pay back less bitcoins than the buyer paid? Im not confident that the law would be on their side then. I mean the buyer paid with bitcoins and doesnt have to care what KNC does with the coins. Regardless of taking bitcoin as a commondity or as a currency. Its an exchange and i dont see that you could pay back less legally when refunding. Though one should think their lawyers cleared that for them. I know they are doing so because i know someone who has already requested a refund, that guy paid with BTC (through bitpay) and he got USD when refunded, so i know how are KNC working and that's why i say we must seriously think in a refund. I got a refund in $ after paying in BTC. I don't know why that's weird to people. They priced the machine in dollars and I bought the btc specifically to pay KNC. I just want the 13k. I don't care if it's in coins or $. Also, they were very clear that refunds would be made in $. |
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