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Remember all that profit they earned by selling the overpriced mining power on CEX.IO - where do you think it's going....
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I think there is too much of a focus on "ROI". Do you mine as an investment? Do you expect to instantly go from BTC to USD? Mining generates a certain amount of BTC. How that translates to fiat at the moment is a constantly moving target (just look at a 6 month BTC price chart). So why the big focus on "ROI" are you investing or are you looking to gain instant revenue?
Last time I checked investing included speculating on future earnings....
Well I guess there are probably some hobbyist miners out there, but a person spending 10s of BTC on mining equipment is probably looking to make money sure. There is a focus on ROI because a mining device does exactly one thing, generate revenue. Obviously if it generates less revenue than it costs to purchase there is no reason to purchase it. I'm not sure what your mentioning of fiat has to do with it though, if you spend say, 10BTC on mining equipment, you hope to make more than 10BTC with it (ignoring operational costs for the moment), otherwise you may as well just keep the BTC. I think this is fairly intuitively obvious. It isn't a question of instant revenue though, it is simply the nature of how these things work. If you buy say, GOLD, and 3 months or a year later haven't profited, it could still turn out to be a good investment because it could still increase in value. If you purchase mining equipment and 3 months later it hasn't made you a profit, that's it, it never will. And that's the single best reason for risk adverse people to stay away. If you buy BTC on an exchange you can always dump it back for fiat (at whatever profit/loss) and just deal with a 3-10 day delay on not having fiat. If you buy mining equipment you're committed until you can find a buyer to ship it to. If you have cheap power you could always offer a lease but those can be a headache. |
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You can get a lot of these card on the cheap on eBay due to all the miners dumping them. Scrypt hashrates are going up with ASICs now.
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I clicked back in the thread to 05-10-14 (3 months back from 8-10-14) and didn't see any mentioned to the withholding attack. Is there a separate thread detailing this discovery?
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Ah people are willing to lose $5 to get a free penny  I love this line of thinking  |
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don't you think cex is more concern about bitcoin failing then many of us, since they are heavily invested in hardware, if anything happens, they tends to lose more
And what if their losses are the simmple price to pay for having the ability to shut down BTC. I'm not one for consipiracy theories but given the recent revelations and confirmations of government sanction spying and industrial/corporate espionage is anyone willing to back all BTC owners/investors with their own funds in case it crashes? None that I know of. Some people will succeed if BTC fails. |
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Massively failures, unless you count inspiring the next generations to go boldly??
Make it so, #1? |
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LOL ....  damn ... too much LSD perhaps during their tour in Vienna hehehhe.  How much is that 1/2 doggie in the window? That pic is going to disturb throughout the day. |
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I am 16 going on 17, you are 17 going on 18 ...
Does immortal count as an age?
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I think the water would turn bad If you have It for one year and you couldn't drink It all.
Dank's threads are so off the wall that this response might actually seems at home in this thread. Yeas the water does go bad in the cauldron on Friday June 13th |
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Yay for Maggie Q  Although she is mixed, but good enough to model in HK |
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You're not missing anything. Most miners are running in the red. Those that aren't probably know the hardware vendor. Buy a cheap miner and mine for fun. If it's not fun, spend money on something else.
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Hi guys.
I'm thinking about buying an Asic Miner (1000Gh/s). I checked coinwarz.com and with that speed, I'm (supposed to be) able to make 28 usd a day, or 23 usd counting electricity cost. That's an estimate of course.
Is that a realistic expectation? I know the difficulty increases and the profit decrease with time. My doubt is… how long should I expect to make no money out of the machine? Couple years?
I imagine I should join a pool.
-What should I consider when joining a pool?
-When I join a pool, the more I contribute (in hash power), the more my payout is?
-It's more profitable to join Ghash.io or p2pool?
Thanks in advance.
The most important thing is difficulty, your net profit might be 23 usd today and for the next 5 days, but after that the difficulty increase about 10-20% and your profit drop, which this will happen every 2 weeks until you pay more electricity then you get. Actually it's more like every 11 days. If there was no growth it's 2 weeks. The simple fact is what most time based calculators mess up on. |
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There is ROI, you just need to invest big.
Sure we lose on each item we sell, but we make it up in volume  Fastest way to the bottom of a pit. |
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CEX.IO together with GHash.IO are not intending to capture the 51% of the overall Bitcoin hashrate.
Our team consists of dedicated Bitcoin adherents, large investors into this cryptocurrency and people who get their wages in Bitcoin. Thus, there is logically no point for us to crash the system and kill the coin.
CEX.IO has been working on possible ways of decentralising Bitcoin mining since February. We will present our solutions to the Bitcoin community in the nearest time and ask you for understanding our intentions in the right way.
News for you: you don't need to do anything other than stop running this Ponzi called CEX.io. The mistake is not gHash's but the miners or devs. What mistake is this. The centralization of mining? I fail to see how devs are responsible for a private farm that's on the order of 25PH/s. |
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We need a pool operator to set up and offer 0%
Which person is going to support other people's mining endeavors at his/her own wallet's expense? None that I know of (at least on a large scale). We need to educate the retards who are pushing the public part of GHash.IO to 50% to get off that pool. Save 1% in fees and mine a dead coin |
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What if they use the supercomputer to mine litecoin or cpu coin instead, it is going to be super profitable..
Um, no. Any "profit" is at the expense of whoever is hosting the SC. The newer Scrypt ASICs will be 1000x more efficient per watt for Scrypt. CPU coin maybe - but none of those are established. |
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I trust ghash.io so nothing bad would happen
Have you net them in person? How easily trust is given... |
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I have a friend that bought a 3500 sqft home just to house his toys (mostly Star Wars stuff). Now that's geeky! "Yeah honey, it's our Vacation/Hasbro-Disney home" |
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