July 25th to Aug 8th diff thread

[notlist3d]

Setting up a difficult thread for us who enjoy speculating for this week .   This thread is temporary once Phil get's back out of respect this thread will be locked and conversation go in his thread.

Bitwisdom Currently:

Bitcoin Difficulty:    52,278,304,846
Estimated Next Difficulty:    53,021,845,756 (+1.42%)
Adjust time:    After 1897 Blocks, About 13.1 days
Hashrate(?):    385,112,057 GH/s

Coinbase is around 289.   So again not bad for miners.  Mild changes and slow rise in BTC.

[Philipma1957onvacation]

Thanks for setting it up, I did not want to impose on you.

Looks like the summer heat has not put diff into negative drops. My guess is companies are swapping older gear with newer gear.

[notlist3d]

Thanks for setting it up, I did not want to impose on you.

Looks like the summer heat has not put diff into negative drops. My guess is companies are swapping older gear with newer gear.

I think you are right on with this.   Look at bitmain's next batch of S5's "[Second Hand] ANTMINER S5 BATCH 7" .    I am really afraid of this and wish they would explain more.

I'm worried they sell used S5's clean out data centers then keep first X numbers of what ever miner is next for them.  So the S5 goes to a hobby miner, and a data center gets an upgrade.

Again all hypothetical for all I know these are just warranty ones that were fixed and I am reading to much into it.

And not a problem at all enjoy your vacation!

[Philipma1957onvacation]

Going to the beach in about ten minutes.  Virginia Beach has a nice boardwalk been fun so far.

[jonnybravo0311]

Of course Bitmain is filling its datacenter with newer gear.  You don't think they're just going to sell that new stuff to the general public before they get a chance to milk it themselves, do you? .  It's absurd that they are selling those secondhand S5s at new retail prices.  What's even more absurd is that people are buying them.  Talk about rolling in profits... let's mine with this gear (which we already charged our customers for their contracts) and now let's sell it again!  Brilliant!  Even if those S5s were not part of some hash rate contracts, they were still mining for Bitmain during the entire time.  Just food for thought:

Retail price at launch was about $450.
Orders opened around Christmas, 2014 (or thereabouts).
Assuming today's difficulty, that S5 would have mined you 2.17BTC from 1/12 until today.  Obviously, the difficulty was lower in January, but since retrocalc is still FUBAR, and I don't want to write my own code to calculate it, I'm lazily putting that number up .
Bitmain sells that S5 now for $400.

So, assuming it's been mining for the past 195 days (probably longer) and today's difficulty was constant that entire time (absolutely not true), and is sold to you today for $400, that single S5 has made Bitmain over $1000.  Since my numbers are skewed to a higher difficulty, that S5 has actually made considerably more than this.

If I get motivated enough, I'll write my own code to calculate expected payouts between two dates given a hash rate.  I wish retrocalc was working properly so I wouldn't have to.

[Philipma1957onvacation]

I prefer bitmaintech.com doing this slow growth model. Rather then the price war with spondoolies sp20
Dumping the s - 5 at 310 usd back in dec and jan crashe btc to 180. I am hanging in until sept and hope for new gear then I will buy some and mine with my winter power prices from October to May . Then sell it off into hopefully a pre half-ing price jump.

The plan is revealed so let's see if I can do it.

[Biodom]

I prefer bitmaintech.com doing this slow growth model. Rather then the price war with spondoolies sp20
Dumping the s - 5 at 310 usd back in dec and jan crashe btc to 180. I am hanging in until sept and hope for new gear then I will buy some and mine with my winter power prices from October to May . Then sell it off into hopefully a pre half-ing price jump.

The plan is revealed so let's see if I can do it.

Judging by used s5 prices, bitmain will give us all a price shock for S7
Perhaps, slowly buying some coin right now is advisable.
If price goes down, hold until halving, if price goes up-you will save on btc numbers for S7.

[Philipma1957onvacation]

I prefer bitmaintech.com doing this slow growth model. Rather then the price war with spondoolies sp20
Dumping the s - 5 at 310 usd back in dec and jan crashe btc to 180. I am hanging in until sept and hope for new gear then I will buy some and mine with my winter power prices from October to May . Then sell it off into hopefully a pre half-ing price jump.

The plan is revealed so let's see if I can do it.

Judging by used s5 prices, bitmain will give us all a price shock for S7
Perhaps, slowly buying some coin right now is advisable.
If price goes down, hold until halving, if price goes up-you will save on btc numbers for S7.

Buy and hold is soooo very boring.
I suppose I. Could grab four or five coins.

[HerbPean]

Bitcoinwisdom at 405 PH :-(

[mavericklm]

Hash Rate    400,210,368.97 GH/s
on blockchain

[Amph]

I prefer bitmaintech.com doing this slow growth model. Rather then the price war with spondoolies sp20
Dumping the s - 5 at 310 usd back in dec and jan crashe btc to 180. I am hanging in until sept and hope for new gear then I will buy some and mine with my winter power prices from October to May . Then sell it off into hopefully a pre half-ing price jump.

The plan is revealed so let's see if I can do it.

Judging by used s5 prices, bitmain will give us all a price shock for S7
Perhaps, slowly buying some coin right now is advisable.
If price goes down, hold until halving, if price goes up-you will save on btc numbers for S7.

Buy and hold is soooo very boring.
I suppose I. Could grab four or five coins.

i find it very hard to resist, in selling your coins, everyone want always to invest to move his money in some way

if s7 will cost not so much you will have two weeks to buy one and make a good profit before the diff begin to climb again

[notlist3d]

Yes looking like we will be over 400 after this change:

Bitcoin Difficulty:    52,278,304,846
Estimated Next Difficulty:    53,706,336,534 (+2.73%)
Adjust time:    After 1759 Blocks, About 11.9 days
Hashrate(?):    405,330,081 GH/s


Currently BTC over 290.  Hopefully we can get a little bump on this price.

[notlist3d]

Morning Bitwisdom:

Bitcoin Difficulty:    52,278,304,846
Estimated Next Difficulty:    53,630,364,123 (+2.59%)
Adjust time:    After 1734 Blocks, About 11.8 days
Hashrate(?):    398,747,326 GH/s

Appears its going to be a positive change, question is just how much.

Coinbase is right under 290.   So not bad overall.

[Philipma1957onvacation]

Blockchain.info shows 144 made for Sunday and 78 for today. Basically the real time diff is under two percent.

Two percent of 400 ph is eight ph about seven thousand s-5 machines

[notlist3d]

Blockchain.info shows 144 made for Sunday and 78 for today. Basically the real time diff is under two percent.

Two percent of 400 ph is eight ph about seven thousand s-5 machines

It will be interesting to see the sell of the S5's from their data centers.   I wonder if they will have what ever is next to plug in right away, or if they will be unloading the "second hand" ones before gear is ready.

This is just a guess but I would think whenever the batch starts to ship... they would have something.  I just cant imagine them leaving a data center spot open.

[jonnybravo0311]

That's exactly what I was stating above.  There's no way they are going to leave empty space in a datacenter.  If they're selling second hand S5s, it's because they're replacing them with newer stuff.  The only people mining with Bitmain's newest gear is Bitmain.  Once they've sold off enough of those old S5s, they'll announce the newest miner to the public.

[notlist3d]

That's exactly what I was stating above.  There's no way they are going to leave empty space in a datacenter.  If they're selling second hand S5s, it's because they're replacing them with newer stuff.  The only people mining with Bitmain's newest gear is Bitmain.  Once they've sold off enough of those old S5s, they'll announce the newest miner to the public.

The most crazy thing is they mined with these machines for over a month.   And what do they get and the machines rised in value.... crazy!

I never thought I would see a miner that you could mine with and the miner itself rised in value.  So they got approx 40 day's of free mining on these then sell them.... and sell at higher price.   

We live in crazy days.

[jonnybravo0311]

Yup.  Crazy days.  I've been using this thing the entire time I've been trying to sell it, but I'm still going to charge you the full retail price, which by the way is now higher than what it was had you bought it when I first offered it for sale.

Seriously, these things are collectibles... they aren't classic cars... a Babe Ruth rookie card in pristine condition... they're a mass produced commodity.

[Biodom]

Yup.  Crazy days.  I've been using this thing the entire time I've been trying to sell it, but I'm still going to charge you the full retail price, which by the way is now higher than what it was had you bought it when I first offered it for sale.

Seriously, these things are collectibles... they aren't classic cars... a Babe Ruth rookie card in pristine condition... they're a mass produced commodity.

too early to say...we'll see in 30-40 years (see Apple II prices)

[bronie17]

Thanks for setting it up, I did not want to impose on you.

Looks like the summer heat has not put diff into negative drops. My guess is companies are swapping older gear with newer gear.

I think you are right on with this.   Look at bitmain's next batch of S5's "[Second Hand] ANTMINER S5 BATCH 7" .    I am really afraid of this and wish they would explain more.

I'm worried they sell used S5's clean out data centers then keep first X numbers of what ever miner is next for them.  So the S5 goes to a hobby miner, and a data center gets an upgrade.

Again all hypothetical for all I know these are just warranty ones that were fixed and I am reading to much into it.

And not a problem at all enjoy your vacation!

this is undoubtedly what is happening.. manufacturers are preferring to profit with their own hardware by mining than retail these days.. the end of small scale home mining is nigh also the end of my sandwhich

of course just look at KNC if you are sceptical, why should bitmain behave better? they are both in it for the money