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821
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Bitcoin / Mining speculation / Re: Stealing Electricity the next big thing?
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on: August 24, 2014, 04:50:35 AM
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Great now we're resorting to the potential of theft. Again it will be more profitable to bully seniors in a grocery store parking lot than it would be to sneak a miner into Starbucks. If that things ever gets tracked back to you by serial number or fingerprints I can't imagine the number of crimes you could be charged with.
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822
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Bitcoin / Mining speculation / Re: I am out of the mining game :(
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on: August 24, 2014, 03:46:31 AM
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That's exactly my question, I'm new to bitcoins but I saw the video on MBP datacenter in Washington. Are they still making $USD8million a month profit? Is there a formula that shows how and when (at what investment level) that a profit can start to be made? Feel free to answer here or PM me, I'm looking to learn about this. So far it seems to me that only the manufacturers win because they mine for 6-12 months on their new equipment while "testing" it in pools of at least 100 servers, then when those servers get too slow for the formula they finally ship them to end customers. Do I have it right so far in my conclusions? So to make any profit at this you have to be the manufacturer of your own ASIC cards and get each server for about $500-$900 total cost.
It's quite unlikely that the Washington mining facility is making $8 Million per month today. Unless they have continued to upgrade/replace their hardware, at some serious cost, they will see a declining number of Bitcoins each and every month. The largest facilities are as exposed to difficulty increases, and the volatility of the Bitcoin price as even a puny 100 GH/s miner like myself. Just think of yourself as the "CEO" of such a mining facility walking around and realizing that every 12-14 days, difficulty will adjust, and you will make fewer Bitcoins next month than you did this month. And you you still have to sell some of your Bitcoins to pay for the electric bill (in US $$$, not Bitcoins) at the end of the month. You just hope that Bitcoins didn't also go down by 5% in value during the month. And sometime, you will likely have to report back to your investors that you didn't make $8 million this month. While the numbers are jaw dropping, the finances are every bit as precarious as they come. You can take each month's profit and re-invest into new (and faster) servers. $USD3million buys 1000 5TH machines. So each month you can replace nearly your whole datacenter with faster servers. If you replaced every 4 months you are still making 4x profit over replacement costs. I just wonder what the facts are, not speculation, on what they invest and what they make. Even more I wonder what the lowest entry point is to make a worthwhile income. Companies like Mega Big Power and Cointerra and others who have big datacenters wouldn't do it if it wasn't making them money. So what are they doing right and what is their formula?The trick is that they can sell to themselves without cheating themselves. If Cointerra sold a 2TH unit last year for $5000 and it cost them $1500 to develop the unit, then they can buy more units for themselves. They don't need to pay for any additional research, they don't need to pay for shipping, they're not penalized with a 2 week downtime with shipping. So if the miner costs 1/3 of their total end user selling price then they essentially have only 1/3rd the investment cost that an end user would have. Not to mention the benefit of mining earlier. Now if they continue to sell the units for $5k and it costs them $1.5k, they can buy 3 units for every 1 unit they sell you. |
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824
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Other / Beginners & Help / Re: What is a signature campaign?
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on: August 23, 2014, 10:47:43 AM
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You post with advertisement in your sig and get paid. Us new guys get nothing tho  This is done so that people don't spam the forum with useless posts just to get financial compensation. The theory is that most senior and hero members won't post useless drivel - for the most part this is true. People should not post to make money. They should post to add to the discussion and help others. Anything that comes from that is just extra. |
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825
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Alternate cryptocurrencies / Altcoin Discussion / Re: Do we have too many alt coins?
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on: August 23, 2014, 10:29:18 AM
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It's so easy to make one, does it make sense? But think about it, Bitcoin and Litecoin are the same thing.
alt coins should get banned. The same way China banned BTC 48 times?  There's no reason to ban them if fools don't put their money into them. The pump and dump devs rely on the constant stream of new foolish money. The altcoin section is a zoo now. |
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826
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Economy / Scam Accusations / Re: Butterflylabs Huge SCAM
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on: August 23, 2014, 10:25:05 AM
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Seriously it's been over a year now that I have stopped paying attention to BFL and I come back and see they are doing the exact same thing.
Ripping off new people by letting them buy pre order and delivering it to them years later after the difficulty makes them worthless.
How do you guys keep buying their crap and complain later.
Big
Fucken
Liars
How much more evidence does one need? My lord and you all want to be free from the federal reserve and the tyranny of the system of crooks?
You can't even avoid the tyranny of BFL
Jeez I give up on you all
Well isn't there a failure of government when a company received over 500 FTC complaints, 1000 BBB complaints and has a pending class action lawsuit - all this for a company that still has gross revenues under $50 million. There must be a lot of crime in KC for the State AG to be too busy to investigate BFL.  |
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827
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Other / Politics & Society / Re: 11 Planes were taken by rebels in Libya, potentiel terrorist attacks incoming
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on: August 23, 2014, 10:13:42 AM
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This planes will be guarded and will having hard time getting near on advance countries unless they have good pilot that knows how to evade the radars.
Fly low to get under the radar.. But still possible to see them and report them.. It is so sad, scary and annoying to see rebels take planes like this.. Because you never know if they are going to use them for transport purpases or to ram something like 9/11. No matter what I am sure that they will be shot down if they are found and they come too close to any large pupulated area. depending of the type of planes this may or may not work, but I assume that most of the planes are the average jetliner like Boeing 737 or Airbus 320 and co, I doubt flying it low will work, and I think the best solution is to disguise it as a commercial trip, but again from what I read from the article, the planes has not only to identify to civil aviation but also to military before and when they enter the air space of those countries They can shadow other commercial flights. This needs very professional pilots because they need to came very close to other commercial airplane and also they need to turn off the plane transponder. Making the two planes as one as seen on the radar. That level of flying is beyond what any rebel pilot may be capable of. Getting withing 100 ft of a commercial jet without the wake killing your airstream is hard enough, getting within 5 feet to mask the signature and keeping that formation is something most fighter pilots could not do. Only Hollywood has ideas like that. The plane don't have be that near to shadow another aircraft. The basic resolution angle formula for a radar is 1.22*wavelength/diameter = angular resolution in radians (circular antenna). For long range Air Traffic Control, typical wavelength is 0.15m, diameter of aerial is 14m. So at 60nm this gives a distance resolution of about 3/4 of a mile. Real antenna have various physical and electronic devices to improve this, so in practice staying at less than 1/10 of this, say 150m, usually means no detection. 150m is the standard FAA specification for its long range radars. We used to use about 75m since we liked to stay "numbers disguised' till about 30nm range. My aviation experience is limited to rotary rather than fixed wing but I am aware that military radar 2 sequence registration is able to have a far more granular detail than 75m. I guess it depends on the airspace. Flying into Tunisia masked may not be an issue. Flying into Los Angeles or NYC would be damn near impossible, especially given that on approach the altitude decreases and the angular profile increases. |
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828
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Other / Politics & Society / Re: George W. Bush - American hero and supporter of ALS research. Obama = PUSSY!!!!!
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on: August 23, 2014, 09:46:13 AM
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I wonder how many people doing this ice bucket nonsense even care to spend 5 minutes reading about the disease. Do they know if it's contagious? Is it a chronic disease? Does it progress?
I see these football coaches doing it and all I see is narcissism. Sure maybe 10% will become more cognizant of the disease. 90% will forget what it is in 6 months.
If we go by ends justify the means then I guess it raises money, but the productivity would have been a lot better to tell people to donate 1 hour of income on a set day to research or just volunteer with these patients or spinal cord injury patients.
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829
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Other / Politics & Society / Re: A Terrorist Horror, Then Golf: Incongruity Fuels Obama Critics
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on: August 23, 2014, 09:41:27 AM
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There is much too much going on in both the world and in the US in order for it to be appropriate for him to be going on vacation. It would be one thing if he was simply trying to get away from Washington to get a change of scenery, but the fact that he is spending hours away from any kind of work is very troubling. I think he has already made up his mind as to what he is going to do with his foreign policy and that is nothing.
I have many issues with this POTUS, but vacation is not one of them. People jumped on Bush playing golf. Very few people can imagine how stressful work like that can be. Clearly it has aged him. The media is harping on the wrong things. I spent a lot of my youth cramming for classes and tests. In med school I had some tests that were given 3 hours after the lecture. During my internship on night float I found myself crying due to constant sleep deprived state and feeling alone - and I have never cried watching a movie or TV. It just wears you down and the body can't cope. The man is probably woken up in the middle of the night every night for something. He said what he had to say. I didn't look at the speech. If the media wants to be critical of him they should focus on why his crowning achievement of ACA is such a failure. |
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830
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Bitcoin / Hardware / Re: ANTMINER S3 Discussion and Support Thread.
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on: August 23, 2014, 09:07:29 AM
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I went to use my 3 unused coupons today from the Bitmain Hash speed issue and found out that they expired.
What a crock of crap.
If they dont give me my coupons back or the equal bitcoin I will not purchase their products anymore.
Has anyone else had this happen???
I believed the coupons expired on the 16th, and now it's a week later. It was posted up and down this thread so you'll probably get no sympathy. Most tried to sell their coupons last minute. |
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832
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Bitcoin / Mining speculation / Re: New difficulty: 23844670038 +20.86% - Sucks!
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on: August 23, 2014, 08:47:21 AM
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You said it was going to be 11% last jump and it was over 20% like I said. You're guessing 13-15 this jump, I say 20-25 since it's already on track for a 23% jump.
Maybe people are underestimating the winter miners down south. Vegemite miners... I'm looking at you Organ Of Corti
26.5B on the nose is my punt for the next leap. Seeing as how I don't have OoC's weekly pool stats yet I'm going to guess a good 30 billion. I think the network has been having bad luck looking at Ghash. I can't tell from DF's stats and they passed ghash in power. |
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833
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Bitcoin / Mining speculation / Re: New difficulty: 23844670038 +20.86% - Sucks!
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on: August 23, 2014, 08:44:53 AM
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Maybe people are underestimating the winter miners down south. Vegemite miners... I'm looking at you Organ Of Corti
But our winter is all but over. Didn't know you were down there too. Tilt the planet back this way, it's been hot as hell here in CA and I have a feeling our "winter" is going to be hotter than everybody else's summer. My new S3s don't like it. |
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835
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Economy / Service Discussion / Re: Advice for new users regarding CLOUD MINING
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on: August 23, 2014, 08:26:23 AM
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It was not my intent when making this thread to discuss the various cloud mining sites - there's tons of blogs for that. I wanted to point out inherent risks specific only to cloud mining when compared to mining with physical hardware. I happened to list Cex, Lunamina and PB since they were sig spamming and lunamine just ran off with 2000 BTCGenesis mining in particular seemed to have a lot of shill postings in July. I saw one user running around with 40 posts and 34 of them were promoting genesis-mining and yet he/she never stated they were working for the company. They may not have been paid by genesis-mining but the posts just seemed wrong, especially how the poster chimmed in topics where the OP wanted to know about hardware specifically. Until these companies start releasing basic information like their incorporation state and their officers I wouldn't trust any of them. |
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836
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Bitcoin / Mining support / Re: COOLER MASTER GX II 750W & ANTMINER S3 PROBLEM
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on: August 23, 2014, 04:40:35 AM
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Sometimes spending an extra $20 to $30 is enough to save hours of headache and 2-3 days of downtime while troubleshooting. With ASICs it pretty much comes down to either the ASIC or the PSU - on rare occasion the network config can be an issue.
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837
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Bitcoin / Hardware / Re: {BFL} WHAT THE!! ButterflyLads WONT deliver the Monarch Till...ONLY GOD KNOWs?:(
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on: August 23, 2014, 04:33:18 AM
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Close to a year later and Mr. Inaba/josh/Butterfly Lab is starting to ship out the Monarch to the customers  Question: What month do you believe the Monarch will be delivered on (First Pres-orders)? and what do you think about the Delay? August 18 2014 - 23 (3.9%) Is the big Winner but we have thousand of looser who invested more than 10 million worth of BTC and will only see less than half of that in return December ?? 2013 - 2 (0.3%) January ?? 2014 (Happy NO Monarch Day!) - 5 (0.9%) February ?? 2014 - 13 (2.2%) Marnarch 17, 2014 - 26 (4.4%) April FOOOOOLs, YOU FOOOls, 2014 hahahahahahhha - 118 (20.1%) Cinco de Mayo, 2014 ~ Josh is living La vida Loca with Ricky Martin - 29 (4.9%) June ?? 2014 - 28 (4.8%) July 04, 2014 ~ set Ur BFL rigs on fire DAY! - 22 (3.7%) August 18 2014 - 23 (3.9%) September 1, 2014 ~ : Labor NO more with BFL - 23 (3.9%) October ?? 2014 - 16 (2.7%) November 27, 2014 ~ Turkey/Josh's day - 10 (1.7%) December 25, 2014 ~ "SantaJosh brought me coal's again this year" - 23 (3.9%) What!!! 2015 (Have a Happy Happy New Year From BFL/Josh) - 210 (35.8%) Two MORE Weeks! I promise...LOVE Josh/Inabobo - 21 (3.6%) "Jejeje I love all these newbee's suckers... I mean customers" Love Josh/Inaba/BFL - 11 (1.9%) ONLY GOD KNOWs... "Josh oh Josh... this is GOD speaking... Its TIME to give-up the GOOOOOOOOOOOODs or... Im coming for YOU!" - 7 (1.2%) Lock Voting Edit Poll Total Voters: 587 You're jumping the gun. Until 1 actual customer reports that they received something or somebody posts a review I won't believe they shipped anything. Ask Luke-jr about his shipping label  |
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838
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Bitcoin / Mining speculation / Re: New difficulty: 23844670038 +20.86% - Sucks!
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on: August 23, 2014, 04:18:55 AM
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when this thing stop? i mean it can not go up forever, it seems just a battle who control more hash now, distigusting
It will never stop! Probably somewhere in the 80B mark it has to top out. Bitcoin Difficulty: 23,844,670,039
Estimated Next Difficulty: 29,224,980,526 (+22.56%)
Adjust time: After 1487 Blocks, About 9.2 days
Hashrate(?): 194,989,563 GH/s of course it stops growing if .5 watts is the best an asic chip does and 4 cents a kwatt is the cheapest big power supply diff will slow or btc will jump quite a bit. Spec threads are fun. I am pretty bullish about it all and most guy are bears here on bitcointalk spec threads. I see growth under 20 closer to 15 maybe even 13 this time.I also do not see huge network growth predicted. here is why. most mining is in the hands of asic builders . the small guy with 1k to 20k in household gear has less then 20% of the network. I used to sell amazing amounts on ebay not anymore. . The guy that is doing this with a few paychecks worth of money is spent/tapped/tired of the game. I still see btc price growth with less diff growth. we averaged 24% for 200 days then 18% for 200 days and since june 29th the diff has been 9% this is for 55 days. I can't see more then 10% for the next 145 days. Not at 550 or 500 usd a coin. So either diff lowers or price jumps. You said it was going to be 11% last jump and it was over 20% like I said. You're guessing 13-15 this jump, I say 20-25 since it's already on track for a 23% jump. Maybe people are underestimating the winter miners down south. Vegemite miners... I'm looking at you Organ Of Corti |
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839
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Bitcoin / Mining speculation / Re: Just need some experienced users advice.
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on: August 23, 2014, 03:59:37 AM
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Hello !
Do you want a mining experience ?
Spend only few money, purchase a little Bitcoin, then join a cloud mining, like CEX.io
I am not affiliate with this company but believe me if you want to know how mining it is, you will do it.
You will learn how to trade your resources and how hard the mining for BTC it is. You will learn to have patience and watch how tiny bits of coin are pile up.
If you can do this, you can go to the next level, purchasing of one or more ASICS.
BTW you can resign and recover your money by selling your GH/s purchased with Bitcoin on CEX.io anytime.
What! What? What!!!! You cannot recover your money - you can recover the residual value that the GH/s converts to - which is almost always less than what you bought it for. The only saving grace of CEX.io is that it hasn't gone belly up like lunamine - that's not really a selling point. You've been here for almost a year and recommending cloud mining? Jeebus. Either commit to a small miner and learn or just focus on the bitcoin economy and skip mining - no need to enrich companies that centralize the network. |
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840
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Bitcoin / Mining support / Re: What PSU you use for your antminer S3?
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on: August 23, 2014, 01:43:48 AM
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Get a 1500 watt psu and hook like 4 to it... Save a lot of space and trouble..
There are a lot of people who would never even be able to order a 1500W PSU due to it being out of stock or not even available in their area of the world. It might be reasonable to get an 800W or 1200W and hook up 2 or 3 respectively, but 1500/1600W PSUs are sometimes hard to come by. Besides the availability of such PSUs, the prices they command are unreasonable. An EVGA 1300 G2 can be had for about $175 on Amazon. The EVGA 1600W PSU is about $350. I'm pretty sure I'd rather have 2 of the 1300W units for the same cost as one of the 1600W units. Another thing to consider is the power from the wall. If you're in the US and plugging it into your typical wall outlet, and there's nothing else at all on that circuit, you can pull a max constant load of 1440W before tripping your breaker (80% of 120V/15A), which renders the 1600W PSU a worthless investment.1/3 to 1/2 the households have 20A wiring now, so the 1600W isolated is usable - of course you could always use 240V. We're on the same page regarding the circuit load. Pulling the full - or close to full - load from a circuit is certainly supported for "bursts". The microwave is a good example of this kind of load - pulling a lot of power for short periods. What is not supported is continued and constant draw over 80%. Your mining gear is a good example of this kind of load. 240V is always a better option simply because higher volts means less amps for the same power requirements. Your PSUs will be happier. Meh, I mean the 1600w psu might be theoretically useless in that it would never be used to it's maximum output, but, by having that overhead efficiency would be higher? that's the only benefit. Once you start spending over $150 for some decent PSUs the majority of the GOLD and PLATINUM PSUs will be within 1 or 2% of the maximal efficiency even at maximum load. The only issue is more heat generation and stressing of components. The more important question would be how well the PSU handles higher ambient temps since some PSUs don't do as well with high ambients - see JohnnyGuru's Hotbox test. |
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