Newest Diff thread April 5 to April 18th

[Quickseller]

--snip--

  Most likely I will run the avalon 4.1's at ck's solo pool underclocked to 700gh each.

I will burn about 725 watts an hour or 24 x 725 = 17.4 kwatts a day x 30 = 522 kwatts a month at 18 cents = 94 usd a month for 3 months or   just under

300 usd for a shot at a block.

You are pretty much running a lottery ticket. Not only that but a lottery ticket that, unless you are an expert, have no real way of knowing for sure is properly setup until after you find a block but it either does not get propagated or the coinbase transaction does not get sent to an address you control.

I personally think that you should not make any attempt to solo mine unless there is at least a 75% chance you will find a block every two weeks, but even that is very risky

[philipma1957]

--snip--

  Most likely I will run the avalon 4.1's at ck's solo pool underclocked to 700gh each.

I will burn about 725 watts an hour or 24 x 725 = 17.4 kwatts a day x 30 = 522 kwatts a month at 18 cents = 94 usd a month for 3 months or   just under

300 usd for a shot at a block.

You are pretty much running a lottery ticket. Not only that but a lottery ticket that, unless you are an expert, have no real way of knowing for sure is properly setup until after you find a block but it either does not get propagated or the coinbase transaction does not get sent to an address you control.

I personally think that you should not make any attempt to solo mine unless there is at least a 75% chance you will find a block every two weeks, but even that is very risky

You are entitled  to think that.  But you are lacking so many facts in my particular case it is not correct.

A) I begged pool operators for months to run solo pools.
B) Not fly by nite operators but real legit operators.
C) Ck was one of the first to run a solo pool
D) I support him and have 0 issues losing 300 dollars if that is what I lose
E)  Government run Lottery tickets are  bets at unfavorable odds.
F) Solo mining on ck's pool is a high risk investment at favorable odds which involves investing  a small amount 300 usd to collect a possible  5500 usd

Do the math and see why it is favorable odds to do solo mining unlike playing a 4 digit number such as 1234 in a pick 4 game.

[Quickseller]

--snip--

  Most likely I will run the avalon 4.1's at ck's solo pool underclocked to 700gh each.

I will burn about 725 watts an hour or 24 x 725 = 17.4 kwatts a day x 30 = 522 kwatts a month at 18 cents = 94 usd a month for 3 months or   just under

300 usd for a shot at a block.

You are pretty much running a lottery ticket. Not only that but a lottery ticket that, unless you are an expert, have no real way of knowing for sure is properly setup until after you find a block but it either does not get propagated or the coinbase transaction does not get sent to an address you control.

I personally think that you should not make any attempt to solo mine unless there is at least a 75% chance you will find a block every two weeks, but even that is very risky

You are entitled  to think that.  But you are lacking so many facts in my particular case it is not correct.

A) I begged pool operators for months to run solo pools.
B) Not fly by nite operators but real legit operators.
C) Ck was one of the first to run a solo pool
D) I support him and have 0 issues losing 300 dollars if that is what I lose
E)  Government run Lottery tickets are  bets at unfavorable odds.
F) Solo mining on ck's pool is a high risk investment at favorable odds which involves investing  a small amount 300 usd to collect a possible  5500 usd

Do the math and see why it is favorable odds to do solo mining unlike playing a 4 digit number such as 1234 in a pick 4 game.

Well I would trust -CK to payout if your miner found a block (he did so as recently as twice today). The real concern is that you may somehow have something misconfigured on your end that for some reason the block you find does not have a coinbase transaction to your address.

All lotteries will have a negative EV, the way people win is if they happen to win a larger amount then they bet and this is only likely to happen over the short run.

The problem with solo mining with such a small amount of hash rate is that you cannot realistically expect to be able to find a block.

If you want to play the odds, then yes solo mining is going to have a higher EV because -CK is going to take only 0.5% while the lottery is going to take between 2 and 3% depending on the game you play. (I would also personally argue that mining is more fun then playing the lottery so the difference is EV is accounted for). The issue is that solo mining is an all or nothing game, you are either going to make $5,500 (25 BTC) or nothing. With the lottery on the other hand you could make $10 on a ticket, or $50, or even potentially make $500 over $300 worth of tickets.

I don't know exactly what your cost of electricity is where you live, however I don't think the estimated mining revenue would be less then the estimated amount of electricity that you will consume.

[philipma1957]

 Most likely I should sell these two off at the end of  April.. Then hold the coins.

[ThomasCrowne]

I'm going to chime in here with a guess of -3.76-4

[Quickseller]

Most likely I should sell these two off at the end of  April.. Then hold the coins.

I am a long term hodler. I have acquired a large amount of coins via signature deals and the like since when bitcoin was trading at over $700. I have a good amount of fiat stashed away at coinbase waiting for the price to take a serious dive.

Sadly the most profitable course of action for mining seems to be to buy miners directly from manufacturers, then mine for some amount of time and then sell them for a profit (when you take into account your mining revenue). When I first seriously starting monitoring bitcoin and bitcoin related news (mostly by lurking on reddit in early 2014) it seemed that people were able to sell miners they purchased from manufacturers for several times the amount they paid for them.

The ability to profit from mining seems to be almost like a game of 'hot patio' and my biggest concern is that a good portion of the miners will end up in the hands of people with malicious intentions.

Like I said in my previous post, mining is likely going to be more fun then playing the lottery. Likewise, there is a good chance that mining would be more entertaining the going out to the movies or going out to a nice restaurant. If this is the case then it makes sense to not go out one or two weekends and instead mine for a few months, however from a financial perspective it is probably not a good idea to solo mine with less then several PHs of mining

[judypug1956]

I'm going to chime in here with a guess of -3.76-4

Picking time ended on the 12th of April.

[philipma1957]

Most likely I should sell these two off at the end of  April.. Then hold the coins.

I am a long term hodler. I have acquired a large amount of coins via signature deals and the like since when bitcoin was trading at over $700. I have a good amount of fiat stashed away at coinbase waiting for the price to take a serious dive.

Sadly the most profitable course of action for mining seems to be to buy miners directly from manufacturers, then mine for some amount of time and then sell them for a profit (when you take into account your mining revenue). When I first seriously starting monitoring bitcoin and bitcoin related news (mostly by lurking on reddit in early 2014) it seemed that people were able to sell miners they purchased from manufacturers for several times the amount they paid for them.

The ability to profit from mining seems to be almost like a game of 'hot patio' and my biggest concern is that a good portion of the miners will end up in the hands of people with malicious intentions.

Like I said in my previous post, mining is likely going to be more fun then playing the lottery. Likewise, there is a good chance that mining would be more entertaining the going out to the movies or going out to a nice restaurant. If this is the case then it makes sense to not go out one or two weekends and instead mine for a few months, however from a financial perspective it is probably not a good idea to solo mine with less then several PHs of mining

Yeah I am in the position of 2 power prices.  summer rates are 16.9 cents add a 1.1 to cool gear and I am at 18 cents for about 100 days of the year.

Winter rates are 13 cents take away a 3 cent heating benefit  and I drop to 10 cents for about 265 days of the year.

When the high rates approach I sell off most of my gear.  My in House was as high as 15th this winter I am now down to 2th or with under clock 1.5th

The game is now is how cheap is your power rate.  I have 2 s-3's chugging away in a 2.4 cent power spot.  They have mined at 850gh since July 23 of 2014. They still do okay since power bill is 24 x 650 watts = 16 kwatts a day x 30 = 480 kwatts a month Round to 500kwatts x 2.4 cents = 12 dollars and 850gh earns 56 bucks in  a month.
So they make about 40 usd a month.

I am limited to  under 750 watts and under 50 db.  those s-3s are clocked to  freq 212 and they have preformed very well.
Now if I had the spot  using 7500 watts it would be a nice piece of  change but that is not the case.

[notlist3d]

Most likely I should sell these two off at the end of  April.. Then hold the coins.

I am a long term hodler. I have acquired a large amount of coins via signature deals and the like since when bitcoin was trading at over $700. I have a good amount of fiat stashed away at coinbase waiting for the price to take a serious dive.

Sadly the most profitable course of action for mining seems to be to buy miners directly from manufacturers, then mine for some amount of time and then sell them for a profit (when you take into account your mining revenue). When I first seriously starting monitoring bitcoin and bitcoin related news (mostly by lurking on reddit in early 2014) it seemed that people were able to sell miners they purchased from manufacturers for several times the amount they paid for them.

The ability to profit from mining seems to be almost like a game of 'hot patio' and my biggest concern is that a good portion of the miners will end up in the hands of people with malicious intentions.

Like I said in my previous post, mining is likely going to be more fun then playing the lottery. Likewise, there is a good chance that mining would be more entertaining the going out to the movies or going out to a nice restaurant. If this is the case then it makes sense to not go out one or two weekends and instead mine for a few months, however from a financial perspective it is probably not a good idea to solo mine with less then several PHs of mining

Yeah I am in the position of 2 power prices.  summer rates are 16.9 cents add a 1.1 to cool gear and I am at 18 cents for about 100 days of the year.

Winter rates are 13 cents take away a 3 cent heating benefit  and I drop to 10 cents for about 265 days of the year.

When the high rates approach I sell off most of my gear.  My in House was as high as 15th this winter I am now down to 2th or with under clock 1.5th

The game is now is how cheap is your power rate.  I have 2 s-3's chugging away in a 2.4 cent power spot.  They have mined at 850gh since July 23 of 2014. They still do okay since power bill is 24 x 650 watts = 16 kwatts a day x 30 = 480 kwatts a month Round to 500kwatts x 2.4 cents = 12 dollars and 850gh earns 56 bucks in  a month.
So they make about 40 usd a month.

I am limited to  under 750 watts and under 50 db.  those s-3s are clocked to  freq 212 and they have preformed very well.
Now if I had the spot  using 7500 watts it would be a nice piece of  change but that is not the case.

My price is the same only thing is I have to battle heat during electricity.   I have it working decent right now.  If i get what I want I will be building a summer spot for my miners.  Lots of air and exhust. 

It's kinda of slowed down other things right now I've thrown quite a bit of time in planning my new mining spot.

On difficulty looks like we are sitting pretty steady at this point at negative levels:
Bitcoin Difficulty:    49,446,390,688
Estimated Next Difficulty:    48,428,739,111 (-2.06%)
Adjust time:    After 551 Blocks, About 3.9 days

[notlist3d]

Well the day is coming to a end. It looks like it has went down a little slightly

Bitwisdom:
Bitcoin Difficulty:    49,446,390,688
Estimated Next Difficulty:    48,366,693,228 (-2.18%)
Adjust time:    After 488 Blocks, About 3.5 days

[Amph]

Well the day is coming to a end. It looks like it has went down a little slightly

Bitwisdom:
Bitcoin Difficulty:    49,446,390,688
Estimated Next Difficulty:    48,366,693,228 (-2.18%)
Adjust time:    After 488 Blocks, About 3.5 days

it should re-adjust itself now, seeing the price rised a little like +1 % or near that or retunr at the previous rate(1.92%?)

[notlist3d]

Well the day is coming to a end. It looks like it has went down a little slightly

Bitwisdom:
Bitcoin Difficulty:    49,446,390,688
Estimated Next Difficulty:    48,366,693,228 (-2.18%)
Adjust time:    After 488 Blocks, About 3.5 days

it should re-adjust itself now, seeing the price rised a little like +1 % or near that or retunr at the previous rate(1.92%?)

It is nice on price.  Still not a huge jump were getting close to $230.  So a little better then the sub 220 price a few day's ago.

Bitwisdom continues to go down:

Bitcoin Difficulty:    49,446,390,688
Estimated Next Difficulty:    48,198,920,875 (-2.52%)
Adjust time:    After 405 Blocks, About 2.9 days

[notlist3d]

End of day it keeps going slightly down.  Nice to see:

Bitcoin Difficulty:    49,446,390,688
Estimated Next Difficulty:    48,042,649,248 (-2.84%)
Adjust time:    After 361 Blocks, About 2.6 days

[Mikestang]

I always think of Daffy Duck jumping on the Jeanie to get him back in the lamp, that's me jumping on network difficulty.  DOWN DOWN DOWN!

[philipma1957]

I always think of Daffy Duck jumping on the Jeanie to get him back in the lamp, that's me jumping on network difficulty.  DOWN DOWN DOWN!

I could go up to -1.11%  but I digress.

http://www.bitcoincharts.com/         has us at  -2.909%  with 349 blocks to go.


Blocks   352451
Total BTC   14.061M
 
Difficulty   49446390688
Estimated   48007913104 in 349 blks
 
Network total   324164.931 Thash/s
Blocks/hour   5.49 / 655 s


http://btc.blockr.io/charts

4-05-2015  148

4-06-2015  126   -18
4-07-2015  150   -12
4-08-2015  128   -28
4-09-2015  138   -34
4-10-2015  148   -30
4-11-2015  140   -34
4-12-2015  130   -48
4-13-2015  150   -42
4-14-2015  152   -34
4-15-2015  121   -57
4-16-2015  139   -62    we are about 62 blocks off pace.
4-17-2015

[notlist3d]

Price has went down since it was around 230.  Were now at around 220 level again.

I hope we can get a little more upswing on price.  It would definitely help.

[philipma1957]

Price has went down since it was around 230.  Were now at around 220 level again.

I hope we can get a little more upswing on price.  It would definitely help.

https://bitcoinwisdom.com/bitcoin/difficulty


 (-3.26%)

320 Blocks left, About 2.3 days

coinbase = 220 usd

it looks like  we could hit a   -4  decrease

[alh]

Looks like I'll have to restart my 10PH farm if I want to win the pool again this time around. I might even have to call an emergency meeting of my friends at OBEC (Organization of Bitcoin Exporting Countries).   

In case it's not obvious, this is intended to be a humorous post!!!

[philipma1957]

Since this is a favorite thread to post in this will be my first post with my new signature. I now have rented my signature for Bit-x no longer nicehash.

It is the summer's approach that has affected my decisions greatly over the last 30 days. I reduced my 13-14th in house to a mere 1.6 or 1.7th

I also think I will do far more buying holding and trading the next 60-90 days.  So this thread will affect a lot of my buying decisions .  We are going to push towards -4 percent  this time .   I think I see a downward price trend.  KNC is involved in a very big lawsuit.  I can see btc going under 200 usd very soon. This will make for quite a few - diff adjustments.

[mavericklm]

i do not understand y u sold the s5 hosted by lee! that is very low hash speed man!

i have 11th and i underclock to ~9th have to think serious about summer... waiting to see the miner edge on the market!!!

made a calculation, and from when i started ~mid september 2014 till now, the average diff was +3.8%
ok time to mine i guess