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1081  Other / Beginners & Help / Re: A newbie that needs a few questions answered on: July 15, 2014, 01:12:24 PM
Using this calculator http://www.bitcoinx.com/profit/ I have understood that with 1 th/s costing 1500$ i will earn about 1500$ every third month... Is that not correct?

You need to take into account electricity consumption, electricity price, difficulty increase, so no.

Well, in my area the power is very cheap.
Can the difficult increase really be so high that if I invest 1500$ in a mining machine I am doomed to lose money?

First, what miner are you talking about, and what is your electricity price? If you don't even know that, I cannot help.

Electricity price: 0.20$ per kw/h

The miner: antminer s2 1000gh/s 1,1 watt/gh/s bitcoin miner

Being optimistic and only assuming a 10% difficulty per month (Impossible), you would start profiting in February 2015.
https://tradeblock.com/mining/a/40e37c8348

Being realistic and asuuming a 30% difficulty per month, you wouldn't profit.
https://tradeblock.com/mining/a/af8c090e6e

Well, if that'd true, why do people even mine bitcoins?

Because they have even cheaper electricity, like $0.05/kwH?
And that IS true.

But if it's the electricity price it depends on, they can't earn any money that matters, can they? A dollar or 2 a week isnt eaxactly alot...

Incorrect. A dollar or 2 a week? Of course not. People have huge farms, and scammers like Butterfly Labs don't even have to ROI.
1082  Other / Beginners & Help / Re: A newbie that needs a few questions answered on: July 15, 2014, 01:03:49 PM
Using this calculator http://www.bitcoinx.com/profit/ I have understood that with 1 th/s costing 1500$ i will earn about 1500$ every third month... Is that not correct?

You need to take into account electricity consumption, electricity price, difficulty increase, so no.

Well, in my area the power is very cheap.
Can the difficult increase really be so high that if I invest 1500$ in a mining machine I am doomed to lose money?

First, what miner are you talking about, and what is your electricity price? If you don't even know that, I cannot help.

Electricity price: 0.20$ per kw/h

The miner: antminer s2 1000gh/s 1,1 watt/gh/s bitcoin miner

Being optimistic and only assuming a 10% difficulty per month (Impossible), you would start profiting in February 2015.
https://tradeblock.com/mining/a/40e37c8348

Being realistic and asuuming a 30% difficulty per month, you wouldn't profit.
https://tradeblock.com/mining/a/af8c090e6e

Well, if that'd true, why do people even mine bitcoins?

Because they have even cheaper electricity, like $0.05/kwH?
And that IS true.
1083  Economy / Lending / Re: Offering Short-Term Loans! on: July 15, 2014, 01:00:59 PM
need loan..

Amount, purpose, collateral?

Hello,

I would like to request a loan.

Loan amount: 0.0301BTC
Loan time: 2 days
Collateral: Nike.com 25$ gift card

Thank you!

Loan declined, since I can't sell it easily. Try in the digital goods or currency exchange section.
1084  Other / Beginners & Help / Re: A newbie that needs a few questions answered on: July 15, 2014, 12:06:23 PM
Using this calculator http://www.bitcoinx.com/profit/ I have understood that with 1 th/s costing 1500$ i will earn about 1500$ every third month... Is that not correct?

You need to take into account electricity consumption, electricity price, difficulty increase, so no.

Well, in my area the power is very cheap.
Can the difficult increase really be so high that if I invest 1500$ in a mining machine I am doomed to lose money?

First, what miner are you talking about, and what is your electricity price? If you don't even know that, I cannot help.

Electricity price: 0.20$ per kw/h

The miner: antminer s2 1000gh/s 1,1 watt/gh/s bitcoin miner

Being optimistic and only assuming a 10% difficulty per month (Impossible), you would start profiting in February 2015.
https://tradeblock.com/mining/a/40e37c8348

Being realistic and asuuming a 30% difficulty per month, you wouldn't profit.
https://tradeblock.com/mining/a/af8c090e6e
1085  Other / Beginners & Help / Re: A newbie that needs a few questions answered on: July 15, 2014, 11:28:03 AM
Using this calculator http://www.bitcoinx.com/profit/ I have understood that with 1 th/s costing 1500$ i will earn about 1500$ every third month... Is that not correct?

You need to take into account electricity consumption, electricity price, difficulty increase, so no.

Well, in my area the power is very cheap.
Can the difficult increase really be so high that if I invest 1500$ in a mining machine I am doomed to lose money?

First, what miner are you talking about, and what is your electricity price? If you don't even know that, I cannot help.
1086  Other / Beginners & Help / Re: A newbie that needs a few questions answered on: July 15, 2014, 11:20:04 AM
Using this calculator http://www.bitcoinx.com/profit/ I have understood that with 1 th/s costing 1500$ i will earn about 1500$ every third month... Is that not correct?

You need to take into account electricity consumption, electricity price, difficulty increase, so no.
1087  Other / Beginners & Help / Re: A newbie that needs a few questions answered on: July 15, 2014, 11:10:46 AM
If I should not get into mining, what should i get into then instead? What's the most profitable?

Look. Bitcoin isn't a get-rich-quick scheme. If you believe in bitcoin, simply buy some and wait for its value to rise.
1088  Bitcoin / Press / Re: [2014-07-14] ANX Issues World’s First Bitcoin Debit Card on: July 15, 2014, 11:08:03 AM
Hi, ANXPRO here. We are the world's first to start shipping, and we already have the cards in hand and are preparing for shipping right now. The first batch will be shipped within this week.
1089  Alternate cryptocurrencies / Pools (Altcoins) / Re: [ANN][AUTO-SWITCH] Profit-switch auto-exchange pool: CleverMining.com on: July 15, 2014, 11:04:56 AM
I asked before, seems Terk was busy answering to all those guys who had payment issues...

So when is CM going to get more algos?

We don't know yet, but Terk said he would add more.

Just managed to point my 2 antminers + 1 BFL60 to your pool today. There's a constant error on bfgminer:

(Low difficulty share of 0.0)

Is there a way to overcome this?

There is - start mining with scrypt miners instead of SHA-256 miners as this is scrypt mining pool ;-)

(this will change soon as I will be adding more algorithms very soon, but for now it's scrypt-only).
1090  Other / Beginners & Help / Re: A newbie that needs a few questions answered on: July 15, 2014, 11:03:32 AM
Hello, I have just started to read about Bitcoin and I've come to the conclusion that I want to invest in Bitcoin mining. I've tried my best to find answers on the internet and on this forum, but with no great luck.
If any of my following questions has been answered before, please link me to the thread.

1. I am thinking of buying a machine that can mine around 1000 gh/s (or more) for the price around 1000$-2500$. What sites can I trust, and what machines do you guys recommend me to buy?

2. How do I know that it will be profitable? Can I trust the profit-calculators out there?

3. Can bitcoins machines also mine litecoin and other scryptscoins aswell? No?-> Why?

4. I've found a machine ( the sp30 yukon bitcoin miner) but I don't know if I can trust them. Any tips for finding out what firms/sites I can trust?

5. I don't understand how I can earn money from bitcoin mining, other than that a bitcoin is worth around 620$, and that you get bitcoins by mining. How can i get money in my bank by mining bitcoins?

I would greatly appreciate if you guys could answer these questions.
Thank you!

-Messia



1. Don't get into mining. It isn't profitable unless you have cheap electricity.
2. Yes, calculate it yourself, taking into account electricity consumption and price.
3. No. Because Bitcoin is SHA-256, and other coins are other algorith,s.
4. Spoondolies-Tech haven't shipped yet, but they look promising. Use google.
5. Erm... You just answered that yourself. You mine bitcoins, you sell them for fiat, and you transfer it to your bank.
1091  Alternate cryptocurrencies / Pools (Altcoins) / Re: [ANN][AUTO-SWITCH] Profit-switch auto-exchange pool: CleverMining.com on: July 15, 2014, 10:59:40 AM
ok but for like the price of a decent gpu i could buy an s1 antminer or 2

You cannot mine scrypt coins with an S1, you can only mine SHA-256 coins.
1092  Economy / Games and rounds / Re: ➫ ➬ ➫ ➬ WORLD CUP CONTEST on LuckyBit, guess world cup winner and win 5 BTC on: July 15, 2014, 10:55:05 AM
hey binaryFate, why alot of bet FINAL RESULTS wagered is zero?

Because they didn't play anything on LuckyBit during the contest. Reread the rules if you need.
You can enter these addresses in the bet browser to check their bets:

http://luckyb.it/browse


i dont see anything in the rules , someone please show proof.

erono. Please reread the OP again. If you still can't see it, you seriously need medical help, since your eyesight is worsening or something.
1093  Alternate cryptocurrencies / Pools (Altcoins) / Re: [ANN][AUTO-SWITCH] Profit-switch auto-exchange pool: CleverMining.com on: July 15, 2014, 10:53:50 AM
so whats a good way to get higher hashrates without spending a fortune?

None. Mining is about spending money and building rigs.
1094  Alternate cryptocurrencies / Pools (Altcoins) / Re: [ANN][AUTO-SWITCH] Profit-switch auto-exchange pool: CleverMining.com on: July 15, 2014, 09:02:24 AM
lol i'm lost. i only started reading about mining yesterday. what is btc/mhs/day?  Huh and how do i find my optimal settings Undecided

BTC/MHs/Day = BTC/MHs/Day.
To find stuff on the internet, people generally use google.
1095  Economy / Lending / Re: Offering Short-Term Loans! on: July 15, 2014, 09:00:29 AM
need 0.02 btc loan but i want to know what you need in colletral

I accept altcoins with stable value, shares on Havelock Investments, Cryptostocks, etc.

can you offer a loan to me for a week?  I have trade history here, thanks

Amount, purpose, collateral?
1096  Economy / Lending / Re: Offering Short-Term Loans! on: July 15, 2014, 07:26:55 AM
A loan has been sent.

Amount: 0.15BTC
Period: 4 Days
Repayment Date: 18th July, 2014
Repayment Amount: 0.1532
Loan Txid: https://blockchain.info/tx/302f12942ff2bfe11815fb3dc76a43142401f7acc8d2739a332c7e3ccd4c3ccd
To: leancuisine
Collateral: 0.43 Shares on Playt.in

I managed to repay this loan 4 days early. Wink
Repayment of 0.1532 BTC sent. Transaction ID:


2a7a87fb68e8c063f7c86717c22d2d1694cf68f8982c46048379f89dfa63b554


Thanks for your loan.

Thanks. I'm not at home right now, will give you the collateral once I get back.
1097  Economy / Games and rounds / Re: ➫ ➬ ➫ ➬ WORLD CUP CONTEST on LuckyBit, guess world cup winner and win 5 BTC on: July 15, 2014, 01:39:51 AM

    - 1BsndCEi5Twfyca8fiFJbSgWszLt6HstGj        6x           0.00000000                    0           0.00000000

Are you sure 1BsndCEi5Twfyca8fiFJbSgWszLt6HstGj bet wagered is zero?

Of course they're sure. You can check it on the blockchain too.
https://blockchain.info/address/1BsndCEi5Twfyca8fiFJbSgWszLt6HstGj
You can also type it into luckybit and check it yourself.

Is that your address?
1098  Alternate cryptocurrencies / Pools (Altcoins) / Re: [ANN][AUTO-SWITCH] Profit-switch auto-exchange pool: CleverMining.com on: July 15, 2014, 01:27:50 AM
hi, i'm totally new to mining and have just set my miner up for clevermining. I'm using my amd r9 270x and my current hashrate is about 308 kh/s. i'm hoping somebody will beable to give me an estimate on what i can expect to earn with that and give me some advice on the best way i can gain a higher hashrate withought spending loads of money

Well, multiply BTC/MHs/Day by 0.308. Also, I get 470kh/s with my R9 270, try finding the optimal settings.
1099  Economy / Goods / Re: Green Laser Pointers *400/600/800/1000/2000MW (Refund if seized) on: July 14, 2014, 10:45:59 PM
Do you have these of other colours by any chance?

Yep, red,blue,green  Cool Cool

If visibility is taken out of account, do all three burn the same? I feel like I would want the blue one since the color would be nice. But if the green burns the best, I guess the answer is clear.

All of them are pretty much the same when it comes to burning stuff, however green laser beam is much brighter than any other laser:)

Would there be a discount if I bought 2? Cheesy

Which ones and what colour were you thinking of ?

I'd possibly like 2 400 ones, one green, one blue.
1100  Economy / Service Announcements / Re: ANX launches world's first Bitcoin Debit Card powered by an exchange on: July 14, 2014, 10:42:37 PM
Either you guys dont understand me or you are intentionally dodging very simple questions:
Is the issuer of the cards levying any additional fees or using different exchange rates than Visas official one?

They are dodging questions the affiliate cannot answer (which is 90%).

Their strategy is cram as many clueless people down the meat pipe as possible.

We are not dodging questions at all. Please refrain from making useless statements without evidence.
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