Solo mining was unprofitable since a long time now. Only the mining farms are making profit.
However, the mining farms need to move to green energy now. Like wind turbines or solar panels. The conventional electricity cost will make them unprofitable so they need to have some free energy to remain profitable.
Bullshit. Your so called "free" energy (wind turbines or solar panels) is currently more costly - that is why Bitcoin miners use conventional energy. A case could be made that large scale hydroelectric plants supply most of the energy used for Bitcoin mining. Building large dams is also not "free". Correct. "Alternative Energy" is currently more expensive than energy via fossil fuels (natural gas is very cheap). There is a lot of research underway re solar power, but I believe it will not be competitive for years. Wind turbines look to be a loser, at least in the USA. * * * While I cannot answer OP's question with any authority, my *guess* is that the most efficient miners will do OK. The days of solo mining, even with the cheapest electricity in the USA, are likely just about over. It looks like China will win most new BTC production. |
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I think that in China who mining the 90% of all bitcoin nowdays, it's make sense cause the best proof is statistics. But i maybe somewhere people saving more coins.
Do you have any proof for this 90% figure? I would agree that China is one of the leaders in Bitcoin mining... but this 90% figure seems to be just exaggeration. It is more likely to be somewhere around 30% or 40%. In other countries also, there are mining farms. China is not the only country with mega mining businesses. Current mining pools stats indicate that China has some 72% of the "hashrate" which I imagine would correlate very closely with BTC winnings of each miner. F2Pool: 23% AntPool: 21% BTCC Pool: 14% BW.COM: 11% HaoBTC: 3% Total Chinese pools: 72% https://blockchain.info/poolsOK, I would guess that some Americans (and others) may have their hardware grinding away with some of these, but if I had to guess I would think that the majority (probably by far) of BTC production (by Chinese citizens) would be well over 50% of that 72%. Europe also is mining BTC, so what is left for the USA would be well under 50% of current production. But as someone above mentioned, a lot of BTC was mined in the years before it caught on big. So, the USA and China having roughly the same BTC "held" would be about equal. |
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... Another way to cash out would be to buy gold with your Bitcoin. I have done that a few times, but my timing was not the best (my last gold for BTC purchase was w/ BTC at $691). That would not preserve anonymity (gold sellers have to ship it to you...), but it IS a way out of BTC. providentmetals.com has given me excellent service, I have read good reviews on jmbullion too. |
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... I read recently that USB storage drives (thumb drives), and apparently USB wallet-hardware (like Ledger's Nano) might have an issue re longer-term storage. Namely that the device might "forget" everything on it after a long time (or perhaps after a long time of no use). Trezor seems to operate differently, as it seems to have its own fairly active processor. Would Trezor be vulnerable to lack of use over a long period? For that matter, any comments on Ledger (and similar) usability over long periods of cold storage? It could be that I am mis-informed re "USB-style" hardware wallets... Many of us would like to know the truth.  Thank you. |
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Who knows? Not I...
The whole price jump was a surprise (for me), in that this seems (SEEMS!) to somewhat unconnected to The Halving, as we have been discussing that for months. My guess is that the Chinese are the added new demand for BTC, hence the sharp price increase.
The Halving has been predictable, no new information for any of us. Usually when there is predictability, there is typically nothing new that happens DUE TO THAT, as "everybody knows".
$750 is nice, I cashed out some BTC earlier ($691) for gold, so perhaps my timing was not the best, but at least part of my BTC stash got cashed-out at a profit. But, $750 is not a game changer.
What would be a game changer for me? $5000, say...
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Well dudes, I am bowing out from this forum.
I have nothing more to contribute, and this place is toxic as others have noted.
The world is fucked and nobody can fix it.
Peace bros
Peace to you and yours, brother. |
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The one that really blows my mind is bit-x/coinsbank. With the price as it is now they're paying out nearly $85 a week to each of the high rankers. That's a ton of money to be parting with.
Well, they're willing to pay the price, and not every person will max out the number of posts they can get. It's usually not nearly as much as you think; with daily campaigns, a cap of 20 posts like yobit is pretty generous. It's difficult to max out the number of posts you can get in most campaigns, because most people only have so much time in a day. Yeah, it's true that they're giving that much to them, but like I said, it's difficult to make the maximum. Some people might be, but they probably have lower quality posts. There's a reason behind everything, you just have to find out. Indeed to hit such numbers you need a lot of spare time and people are just on the forum for information. This means that the most will never hit this limit.. I used to consider myself pretty aggressive in posting (I do have spare time), yet in the year or so that I have been in my Signature Campaign I have hit my weekly limit only ONCE. That was months ago. Even with BTC price rather high (currently some $710), I only posted some 18 times or so last week, and perhaps 12 or so this week so far. Weekly limit for me is 50. |
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With the price of Bitcoin going up so fast, there is additional risk for the creditor! What if the borrower cannot make money fast enough to keep up with the increase of BTC's price?
At $710 (or so last I checked), BTC is up some 40% in just a week or so. I would never loan (nor borrow) any asset like that in this kind of environment. Default risk is just too high.
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... "Guccifer2" has struck. This is the guy(s) who hacked the DNC computers the other day. He/they has gone on to send the info to Wikileaks. Including an impressive email list of donors. LOTS of famous names. As of now his site was still up, and all the Excel spreadsheets (as well as a "Secret" State Dept. document) were available there...: https://guccifer2.wordpress.com/2016/06/15/dnc/* * * Zero Hedge broke the story just a few hours ago. Scroll down a bit into the comments and you will see a LONG LIST of emails that were hacked. You will all know some of the names... Since they are likely D-Team donors, why not ask each of them what their position is on Bitcoin?
Or ask 'em for a loan......http://www.zerohedge.com/news/2016-06-15/hacker-who-breached-democratic-national-committee-server-posts-confidential-trump-hiEDIT: Guccifer2 also throws in the DNC strategy book (vs. Trump). They use such harsh words for The Trumpster... Bwa ha. |
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If any of you are thinking that YOUR pensions may come through OK, then (at a minimum) you should consider what might happen if your counterparty defaults in paying you...
I will not receive ANY pension money, not even Social Security (USA, not enough years in the private sector paying into the system, and for my .gov years I took the lump-sum payment).
My *guess* is that all pensions are at risk. Plan accordingly.
Your gold may be at risk too Well, that's true. But every asset holds some kind of risk, Bitcoin is not at all immune. I would personally see BTC as higher risk than gold (albeit with the possibility of greater return). Holding gold does expose one to confiscation risk as well as theft risk. But, "paper gold" is even worse (as it will not be there) when the rubber meets the road. I have long counseled diversification. Gold and Bitcoin move quite differently vs. stocks and bonds (and each other). Those dependent on pensions may be at even higher risk. An ugly situation. |
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I have noticed no change in my "confirmation times distribution", perhaps the most common time until I get a confirmation would be around 11 - 12 minutes. Of course, it can be much faster, sometimes noticeably slower.
I am a retail user, and when I can I pay a little bit more to help ensure a miner will pickup my trx.
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... Armstrong today reminds us that pension problems are not limited to the USA. Pension problems in the UK: https://www.armstrongeconomics.com/world-news/pensions-continue-to-spiral-downward/The UK steelworkers are about to lose part or much of theirs it seems. * * * OROBTC editorial comment: If any of you are thinking that YOUR pensions may come through OK, then (at a minimum) you should consider what might happen if your counterparty defaults in paying you... I will not receive ANY pension money, not even Social Security (USA, not enough years in the private sector paying into the system, and for my .gov years I took the lump-sum payment). My *guess* is that all pensions are at risk. Plan accordingly. |
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Sometimes I thinks it's 2012 still.
I tried Circle,
Sign up for account check
Verify Phone number check
Add credit card denied, must verify identity. Ok no problem.
Link to confirm identity??? Nope
Oh great here is a email for circle to confirm, Click the big green button annnnndd NOPE.
Takes me back to main page where there are no working links. Including the getting started and faq pages.
Fortunately I got my vpn service to extend me a week. Which gives me time to use coinbase.
Several weeks ago I applied to both coinbase and circle so that I too could buy BTC with a debit card. Both wanted various documents and for me to jump through hoops. But, I could not get my account set up with coinbase. I did get it set up OK at circle. Circle won my business. |
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I have a wallet with bc.i , I've got quite a few public keys in this wallet with bitcoin in them (not a lot of money as it's my online wallet for every day spending). I haven't upgraded to the new wallet that they're offering yet.
If/when I do, can I trust that the addresses & bitcoin's that I possess in my current wallet will be present in the new version when/if I upgrade?
Please no idiots reply who haven't got a clue.
I hope my reply doesn't meet the wrong criteria re clueless, but you might try sending ALL your BTC from your current blockchain.info wallet elsewhere (like a hardware wallet) before you try the new wallet. I too am interested to hear about user experiences at blockchain's new wallet service. * * * "But, you first." "Pioneers are the ones with arrows in their backs." |
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Invest in popcorn and enjoy the show  It is absolutely impossible to argue with your statement. Unquestionable logic. I just noted that BTC crossed over $700. Gold just got cheaper. Or whatever. Whee!? !! |
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ha!
Fucking Rawdog!
just occasionally this place gets a bit of spirit about it...
(even if he is just trying to get u to sell, or whatever he's playing at )
love those rawdog vids on you tube - whether it's the same guy or not - most chucklesome...
Hah! Indeed, a fun thread.  The Chinese handed me a gift, a +/- 20% gift in $-terms of my BTC holdings. Since I am DONE buying Bitcoin, any price move up is a gift. In fact, for those so inclined, buying gold with the BTC:Au price ratio at some 1.88 (very low, gold cheap vs. BTC) might be smart. See the ratio at the below nice widget: ounce.me |
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Typically price spikes lead to some kind of price dump downwards, at least in the short-term.
BTC's YUUGE spike might allow some to consider doing a little BTC selling... One way to sell BTC is to spend some on other investments. Like gold.
It would not surprise me a bit if Americans & Europeans are doing some net selling today...
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... I read that China was buying BTC big, in two waves, over the past few days. That seems like a very plausible explanation for the big price run-up. Sudden price drops after a price spike up are common. Were I to *guess*, I would say Americans and Europeans have been selling/spending BTC today. Wouldn't surprise me a bit. |
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iamnotback
Of course that won't work, it's really more of a joke in the gold community. I fully understand that they can "Armstrong" (contempt of court) anyone that "they" (TPTB) so desire. And for almost any reason.
Still, as I asked in the Armstrong thread, I would be interested in your views on relative strength of gold vs. BTC as assets in the grim times ahead. I am re-thinking my "preparations", I am fishing for a better & more comprehensive strategy.
The run-up in BTC price over the past few days has been a gift for anyone looking to buy gold with excess BTC...
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As I have always written (on this thread and other similar ones), a person with investable assets should own both BTC and Au.
ounce.me has the BTC:Au price ratio at about 1.87, very low. Meaning that, relatively speaking, gold is cheap in Bitcoin terms (vs., say a year ago when the ratio was about 3.5 BTC / oz of gold).
If anyone has doubts about the stability of the western financial system, they should own some physical gold.
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