The difficulty can't keep increasing 20% exponentially forever IMO. We have incredible improvement in miner efficiency for the past 2 years (from GPU to early ASIC to new efficient ASIC), but the newest ASIC is already in 28nm. I don't believe it will keep improving in that insane speed honestly.  The newest ASIC is currently at 20nm. They can optimize it more, improving the efficiency. IMO, it isn't about the efficiency but quantity, if more people join in, the hashrate should increase, thus increasing the difficulty. But why would people keep buying new miners if they are not going to get profit in bitcoin mining? Of course some people may not do the research before making the purchase, but it should be only be a small proportion of miners. They can be having low or free electricity. You would be able to make ROI quite soon, since you aren't factoring your electrical cost. Also, since miners are more and more optimized, the price should go down for old ASICs and companies would be optimizing ASICs and improving the efficiency. |
|
|
|
The short answer is don't buy a cloud mining contract.
As difficulty goes up your revenue per day will go down. The difficulty has been increasing by roughly 20% every 12 days or so. This means that after just a few months your revenue will be almost nothing on a contract that lasts years.
I personally don't see a cloud company yet as a viable option with current options Ive looked into. But 20 percent also has not been true on last changes. I have heard experts talk about difficulty and it's pretty varying on what they think will happen. The 20 can't go on forever, I hope it's done for now. but only time will tell. But last few have been much better then the old standard of 20. The difficulty can't keep increasing 20% exponentially forever IMO. We have incredible improvement in miner efficiency for the past 2 years (from GPU to early ASIC to new efficient ASIC), but the newest ASIC is already in 28nm. I don't believe it will keep improving in that insane speed honestly. The newest ASIC is currently at 20nm. They can optimize it more, improving the efficiency. IMO, it isn't about the efficiency but quantity, if more people join in, the hashrate should increase, thus increasing the difficulty. |
|
|
|
Buying BTC might be a risky asset right now, new york might just ban it.. Advice to invest only 30% of your money..
No one can ever ban BTC. Since it is decentralised, there isn't anyway for them to stop people from using BTC. Even if they ban it, you can always place it inside a wallet and go to another country to sell it and get your money back if you want. |
|
|
|
I see some gambling sites mention that they are provably fair. They provide some seed and ask to check some hash or whatever. My question is, can this fairness really be checked from outside ? Where are they twisting to make sure the house's win ?
Yes, it can. ..... P.S. This's only principle, and can be used in various way. You should check description on particular site. Thanks wusolini, you explained very well, I also always thought how probably fair work. You're welcome. I see some gambling sites mention that they are provably fair. They provide some seed and ask to check some hash or whatever. My question is, can this fairness really be checked from outside ? Where are they twisting to make sure the house's win ?
Yes, it can. ..... That is an awesome explanation. I wonder how the house make sure that they win in the long term ? Do they really gamble with the user choice ? I'm glad you understand, I've tried to make it in simple. there is always a some formula, that guarantees long time profit to operator. And if not, it can be just adapted  . So don't worry, casinos will never bankrupt (as long as they have active players) So, do u mean, the program inside is rigged for the long run that make sure the house will always win ? I think he meant house edge can affect the profits. Variable house edge will increase the house edge if the house lose BTC and decrease when the house have more profits. |
|
|
|
Im half autist and I agree with all of this. You are forced to wait a shitload of time (and you better have shit tones of ram too) or you are forced to decrease your security by using third party wallets.
You aren't forced to do any of this. Wallets are usually open sourced, which means that you can compile it yourself and ensure there are no viruses, some of them offer more options than bitcoin core and their interface may be better. You can buy one of those blockchain downloads which speeds it up greatly. You do not need a lot of ram. Honestly, I would be surprised you are here if you only have 1GB of ram, you can hardly run much programs. |
|
|
|
Gambling sucks, you will lose in the long run due to house edge.
But thats the thing with gambling, u gotta know when to stop. Even with no edge, the variance will hit you in the long run. Even though mathematically, you are not suppose to hit X loses in X rolls, it can be faster since you will never experience the expected streak. Rolls does not affect each other too, if you hit a bad streak, your next streak may not necessary be a win streak. |
|
|
|
I believe this is my 4th round, I have been in it since round 1. I was just saying some times he is a few days late with payment but he allways comes through.
You have been here since round 1 but why do you have wrong signature according to your membership level ? He is a member. Based on the first post, his signature is correct. I agree that light wouldn't risk a donator status reputation by scamming a few people off a signature campaign, a donator status is worth 10BTC so I doubt he would risk a 0.02 for 10BTC. |
|
|
|
|
In order for Bitcoin to be decentralized, we need a public blockchain and each one should have a copy of it. The fact that it is slow is because it needs to verify each block individuality, since it downloads the blockchain from the peers, you cannot guarantee the network connection of your peers is fast. Bitcoin node have its advantage by offering the features and does help the bitcoin network. It is mostly only for developers who needs all the full features or people who want to help the network by running a full node. You can always use a lightweight wallet if you prefer a less feature software.
|
|
|
|
You're right. And I guess the only way I will be trusted is if someone takes a shot on a quick loan. I'm no scammer man. .04 btc really? There's no need for that. I appreciate you posting. Ty.
No one is able to verify that you are the same person since you may have seen the user on LBTC and created the same account name. 0.04 is really too much for a Jr member, even for a hero member, there is no guaranteed to whether you can get the loan. 0.04 is about 24$ yes too much  If you think that isn't too much, go on and ask a stranger for $24 with no guarantees of returns. Account can be hacked and they may be asking for small amounts to quickly scam and run away. I mean it may be fulfill but even so, they may just default on it. Not much people would lend to a JR member since the accounts are so easily created. |
|
|
|
Thanks for taking the time to answer guys So another question: is there a way of earning btc next to mining and trading? Or which coin would be worth investing in? Both of them involve a investment amount and risk. Trying signature campaign is a good idea. You must however, have a better knowledge of how it works, therefore contributing to the community by discussions and posts. The only coin I would say it is worth is Bitcoin. I don't see any other coin gaining positive reputation more than bitcoin. |
|
|
|
I want to join and I have filled in the registration form, but I am still confused whether it was directly received and I stay put signature in my profile?
If you filled out the forum correctly you should be registered in the campaign just remember your starting post as well when you claim on the 17th. Or drop a post in here to remind you of it. I saw some folks struggling with this last month trying to figure out when they had signed up. You put your starting post in the form but it's easy to forget unless you make a record somewhere. People should just make a habit of emailing themselves a screen shot or post count at the start of each period then what signs I've received here, to be able to start posting? Stunna do not update the enrolled people, https://bitcointalk.org/index.php?topic=291387.msg7421598#msg7421598 very frequently. As long as you have filled it in correctly, you can post and get paid. Stunna usually update on a monthly or every few weeks basis. He already said that you are automatically enrolled once you filled up the form accurately, no confirmations is required. |
|
|
|
You're right. And I guess the only way I will be trusted is if someone takes a shot on a quick loan. I'm no scammer man. .04 btc really? There's no need for that. I appreciate you posting. Ty.
No one is able to verify that you are the same person since you may have seen the user on LBTC and created the same account name. 0.04 is really too much for a Jr member, even for a hero member, there is no guaranteed to whether you can get the loan. |
|
|
|
pbmining has no facility, its mixed coins are coming from else where. Similar to a pyramid chain, theres a thread not long ago about them.
Despite them paying people out regular weekends etc.
They refused to provide a single proof of them mining. Even CEX.IO allows user to redeem hardware and provide proof of their mining facilities. Their proof is visible on blockchain as they are getting blocks regularly compared to their hashrates. |
|
|
|
I wish I got free mistaken bitcoin like 30 btc (:
I doubt anyone would send you a free 30BTC, they are not suited to use BTC if they don't even double check the address. OP had his BTC stolen later on so I doubt you want this to happen to you. |
|
|
|
I'll get my sig done soon, it dosent pay much but if your already posting then you might as well earn btc for it.
It isn't fully right, since you can easily earn 0.1 by posting only 50 post a month, you can get that much by spending a few minutes on this forum per day. Also, if you post a lot more, try pay per post campaigns as they pay more for each post. If you do not have a job, you can earn a small amount by just posting on this forum. I don't see this can be a bad choice. |
|
|
|
Generally speaking what is the best price you can get for these speeds:
< 1 mbps
1 - 2.99 mbps
3 - 4.99 mbps
5 - 9.99 mbps
10 - 49.99 mbps
50 - 99.99 mbps
100 - 499.99 mbps
500 - 999.99 mbps
1000+ mbps
It depends on your location. If fibre in the country is very common, it should be pretty low. In Singapore, you can easily get 1GBIT/s for $49. With free setup and a lot of other free things. Competition is too high, everyone mostly use fibre, I hardly see anyone not using fibre here. |
|
|
|
2) You can mine alt coins and then sell them for bitcoin.
Given that alt coins can be a pump and dump, it may not be profitable. Alt coin is less stable than bitcoin and can crash at any moment, once it crash, you would be wasting your whole time mining., if you use a multi pool that automatically sells for bitcoin the risk of being victim of a pump and dump is low. Not really, multipool usually takes sometime to exchange them for BTC. The coins have to be matured before being able to sell them. It can take a few hours as I know of none of them who can immediately exchange them for BTC. Between this period of time, the risk is still there. |
|
|
|
solo mine. 25 per solved block. No fees. As time -> infinity this is your best bet. Welcome.
Do you know on which day the reward become 12.5 BTC ? Kindly, MZ Check out http://bitcoinclock.com/ for the next reward halving estimate. Reward-Drop ETA: 2016-08-10 10:19:37 UTC (106 weeks, 4 days, 12 hours, 30 minutes) As for which pool will yield the most... https://blockchain.info/poolsLook at Known blocks under the chart, it's ghash.io (much to the chagrin of the conspiracy theorists). Most bitcoiners want bitcoin to be as decentralised as possible. In the long term, the reward will be the same since variance will most likely even out. The only thing that affects the profit is fees and stability in the long term. The best option would be to mine using p2pool however, they don't offer as much features and is relatively unstable.Care to explain the portion I bolded, especially the "relatively unstable" part of it? What kinds of "features" are lacking in p2pool? I'm not claiming p2pool is perfect - but it is a far cry from the implication you're making of it being a featureless, unstable mining option. For example, they do not offer notifications if your miner goes down below the expected hashrate and you can set it in most of other pools. There are serveral miners that you have to manually tweak to ensure that your can get the lowest reject. On normal pools, you won't have to do so. |
|
|
|
Hi all, hi Stunna -- good luck with the new development PD3.
I have fiddled around with the site a bit since the shutdown of JD -- and would like to play on a bigger scale as I used to -- but would like to see the following features:
* First and foremost: speed and responsiveness. I hope the engine speeds up so that manual betting can be quicker. This should be an overriding priority. No one cares about the pretty sunset background or animated dice while you wait for your bet. The functionality should be prioritised over graphics.
* Keyboard shortcuts for betting, doubling, halving etc. (disabled when chat is open)
* Bring back the 1/2 button!
* For the autobetting -- please add a "Reset to base after XX wins or losses" function. This way a player can leave the automating function on -- and also sleep the night !
Good luck,
Ben
Fortunately, all of which you mentioned have already been included in PD3, AFAIK. I agree that they can set a option to disable the animations to allow faster rolling of dices. When rolling a dice, server sends and recieve bet info by using a API. This can take sometime depending on the server load and your internet speed. |
|
|
|
They do charge maintenance fees, they deduct from your mined amount.
True, but they could still charge those maintenance, electricity and hosting fees for people mining elsewhere with the cex hashrate. They have previously planned about this but they did not implement it at all. Also, I don't think it is possible since they do not assign individual hardwares to each user.
Hmmm I haven't considered this before, and that could be the actual reason. If someone buy just 10 GH/s on cex, I am not sure how cex can deliver exactly 10GH/s to other pool, say Slush, for that user. I don't think it would be possible to charge fees when they are mining at other pools. When mining at their pool, they can charge it directly from the mining profits, without much risk if the user refused to pay. I agree it is impossible, for it to be possible, you would need hundreds of 10GH devices and it would require a lot of effort for them to setup for each user. |
|
|
|
|
Show Posts
