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GODLIKE
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February 20, 2016, 06:02:56 PM
 #101

i can argue they ar enot even selling 50%, since they don't need that much to cover their bills

Are you sure about this?
If you buy some hardware today, you spend money and that hardware is obsolete in less than one year.
Then there's electricity.
I'm not so sure they are earning so much.

yeah i'm sure they are earning like 4 times what they are consuming, so at best 25% goes in the bill, and that only with the recent diff increase, 1 month ago was six times, and before that was even higher 8 times or more

Strange, because ANY calculator I used showed me that after having spent money for hardware and electricity, after the first 3-4 months I pay back the costs, and what remains from that moment on is not much really, and after 6-7 months you better turn off your old hardware because difficulty has grown so much that it becomes counter-economic.

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February 20, 2016, 06:38:58 PM
 #102

i can argue they ar enot even selling 50%, since they don't need that much to cover their bills

Are you sure about this?
If you buy some hardware today, you spend money and that hardware is obsolete in less than one year.
Then there's electricity.
I'm not so sure they are earning so much.

yeah i'm sure they are earning like 4 times what they are consuming, so at best 25% goes in the bill, and that only with the recent diff increase, 1 month ago was six times, and before that was even higher 8 times or more

Strange, because ANY calculator I used showed me that after having spent money for hardware and electricity, after the first 3-4 months I pay back the costs, and what remains from that moment on is not much really, and after 6-7 months you better turn off your old hardware because difficulty has grown so much that it becomes counter-economic.

many of them already roi'ed on their hw since they have mining on the s7 from many months already

so it's all profit for them minus consumption, you can do the math easily, at 0.05 cent they are consuming $45 a month and earn almost 200 a month from a single s7, this is x4+ higher

with a 4:1 ratio, they certainly don't need to dump 50% of their coins unless they want to for other reason like manipulating the market to buy more coins...
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February 20, 2016, 06:42:50 PM
 #103

To get an idea what block having is I recommend to read this Bitcoin wiki thread https://en.bitcoin.it/wiki/Controlled_supply

What is Block Halving?
//I'm still a newbie at mining btc, and sorry if this question kinda oot

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February 20, 2016, 07:15:43 PM
 #104

i can argue they ar enot even selling 50%, since they don't need that much to cover their bills

Are you sure about this?
If you buy some hardware today, you spend money and that hardware is obsolete in less than one year.
Then there's electricity.
I'm not so sure they are earning so much.

yeah i'm sure they are earning like 4 times what they are consuming, so at best 25% goes in the bill, and that only with the recent diff increase, 1 month ago was six times, and before that was even higher 8 times or more

Strange, because ANY calculator I used showed me that after having spent money for hardware and electricity, after the first 3-4 months I pay back the costs, and what remains from that moment on is not much really, and after 6-7 months you better turn off your old hardware because difficulty has grown so much that it becomes counter-economic.

many of them already roi'ed on their hw since they have mining on the s7 from many months already

so it's all profit for them minus consumption, you can do the math easily, at 0.05 cent they are consuming $45 a month and earn almost 200 a month from a single s7, this is x4+ higher

with a 4:1 ratior, they certainly don't need to dump 50% of their coins unless they want to for other reason like manipulating the market to buy more coins...

You are essentially saying that online calculators are wrong, right?

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February 20, 2016, 07:45:21 PM
 #105

i can argue they ar enot even selling 50%, since they don't need that much to cover their bills

Are you sure about this?
If you buy some hardware today, you spend money and that hardware is obsolete in less than one year.
Then there's electricity.
I'm not so sure they are earning so much.

yeah i'm sure they are earning like 4 times what they are consuming, so at best 25% goes in the bill, and that only with the recent diff increase, 1 month ago was six times, and before that was even higher 8 times or more

Strange, because ANY calculator I used showed me that after having spent money for hardware and electricity, after the first 3-4 months I pay back the costs, and what remains from that moment on is not much really, and after 6-7 months you better turn off your old hardware because difficulty has grown so much that it becomes counter-economic.

many of them already roi'ed on their hw since they have mining on the s7 from many months already

so it's all profit for them minus consumption, you can do the math easily, at 0.05 cent they are consuming $45 a month and earn almost 200 a month from a single s7, this is x4+ higher

with a 4:1 ratior, they certainly don't need to dump 50% of their coins unless they want to for other reason like manipulating the market to buy more coins...

You are essentially saying that online calculators are wrong, right?

from where you get that from my post?  i've used an online calculator, and any calculator right now is telling me that 1 s7 = $200 per month, and it was higher before much higher i know there is the diff but you need to begin from when the s7 was launched, with double the earning
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February 20, 2016, 08:24:12 PM
 #106

from where you get that from my post?  i've used an online calculator, and any calculator right now is telling me that 1 s7 = $200 per month, and it was higher before much higher i know there is the diff but you need to begin from when the s7 was launched, with double the earning

That 200$ per month is... for how many months?
For what I see, it's only for the first few months.
You have your ROI, but then, difficulty (usually) increases and increases, and after very few months your income becomes nearly nothing.
You can't really say "200$ per month" in Bitcoin mining, because that changes FAST because of difficulty adjustments.

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European Central Bank
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February 20, 2016, 08:33:43 PM
 #107

With all this extra hashing grunt arriving might be we even get halved in June? The date is slowly creeping closer.

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GODLIKE
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February 20, 2016, 08:46:55 PM
 #108

With all this extra hashing grunt arriving might be we even get halved in June? The date is slowly creeping closer.

It seems some people can't really catch how it works.
The difficulty adjustment is a mechanism to KEEP BITCOIN MINING STABLE ALONG TIME.

This means that even if tomorrow you throw in 5 billion trillion gazillion petahash computational power in the network, the next difficulty adjustment will annihilate your effort to mine soooooo fast by increasing the due amount.

Any expert correct me if I am wrong please.

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European Central Bank
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February 20, 2016, 08:50:16 PM
 #109


It seems some people can't really catch how it works.
The difficulty adjustment is a mechanism to KEEP BITCOIN MINING STABLE IN TIME.


That's the principle but it's not working out like that. The halving date has moved up compared to what the sites predicted a few months ago. Look at the dates at the start of this thread. It was 20 days later than it is now.

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GODLIKE
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February 20, 2016, 08:53:53 PM
 #110


It seems some people can't really catch how it works.
The difficulty adjustment is a mechanism to KEEP BITCOIN MINING STABLE IN TIME.


That's the principle but it's not working out like that. The halving date has moved up compared to what the sites predicted a few months ago.

I guess there are limits to the efficiency of the mechanism.
It's not true what I have written in my previous post: if you would throw in the network an incredibly huge amount of computing power tomorrow, you could actually mine all the BTC remaining to be mined in the next two weeks.
This means that if the computing power that is being put in the network increases much, the halving date will actually draw closer by some measure.
But at the same time, you can't put so much computational power to close it THAT much, because every two weeks the adjustment of difficulty will cut your legs making things fair again.

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Laosai
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February 20, 2016, 09:01:39 PM
 #111


It seems some people can't really catch how it works.
The difficulty adjustment is a mechanism to KEEP BITCOIN MINING STABLE IN TIME.


That's the principle but it's not working out like that. The halving date has moved up compared to what the sites predicted a few months ago. Look at the dates at the start of this thread. It was 20 days later than it is now.

How is it not exactly that? Difficulty is made to keep btc stable no?

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February 20, 2016, 09:06:49 PM
 #112


How is it not exactly that? Difficulty is made to keep btc stable no?

Yep, but as the guy above pointed out difficulty only adjusts every couple weeks. Some serious increases in hardware have been introduced recently so they outpace the adjustment for a little while.

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GODLIKE
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February 20, 2016, 09:25:56 PM
 #113


How is it not exactly that? Difficulty is made to keep btc stable no?

Yep, but as the guy above pointed out difficulty only adjusts every couple weeks. Some serious increases in hardware have been introduced recently so they outpace the adjustment for a little while.

Can you please show me how you make so much money on this calculator?
The parameters.

https://bitcoinwisdom.com/bitcoin/calculator

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February 20, 2016, 09:35:02 PM
 #114

Block halving ends  i think july. You can check this countdown to know when block halving ends.
Here's the link
http://www.bitcoinblockhalf.com/
I hope it helps.

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February 21, 2016, 02:29:40 AM
 #115

Along with havling, Bitcoin Roundtable Consensus has been made. which can result in increase in the botcoin price. yhe major point of agreement includes   SegWit is expected to be released in April 2016,  The code for the hard-fork will therefore be available by July 2016 and  If there is strong community support, the hard-fork activation will likely happen around July 2017.
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February 21, 2016, 08:23:19 AM
 #116

from where you get that from my post?  i've used an online calculator, and any calculator right now is telling me that 1 s7 = $200 per month, and it was higher before much higher i know there is the diff but you need to begin from when the s7 was launched, with double the earning

That 200$ per month is... for how many months?
For what I see, it's only for the first few months.
You have your ROI, but then, difficulty (usually) increases and increases, and after very few months your income becomes nearly nothing.
You can't really say "200$ per month" in Bitcoin mining, because that changes FAST because of difficulty adjustments.

yeah but you need to think in the whole picture, what i means is that at the beginnign it was not 200 per month, but 400, so it does not matter if in 3 months it will be 100, because the average earning for a single s7, per month, was 200 since its launch
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March 01, 2016, 09:04:09 AM
 #117

Block halving ends  i think july. You can check this countdown to know when block halving ends.
Here's the link
http://www.bitcoinblockhalf.com/
I hope it helps.


According to the website, the reward will halve on 5 August. Does it take into account the hash rate increase?
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