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GODLIKE
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February 19, 2016, 08:48:15 PM
 #81

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If you buy some hardware today, you spend money and that hardware is obsolete in less than one year.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.

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February 19, 2016, 10:09:48 PM
 #82

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If you buy some hardware today, you spend money and that hardware is obsolete in less than one year.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.

Mining farms are mostly cashing out a very small portion of their mined coins. And most of the money from cashed out coins will be used to buy even better hardware. They constantly keep increasing their hardware to not fall behind since the competition between the Chinese mining farms is very high level. At this point the majority of their coins gets saved offline for when the price climbs up. They don't dump a lot at once as they can easily push back the price to sub $100 levels without much effort.

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February 19, 2016, 10:20:58 PM
 #83

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If you buy some hardware today, you spend money and that hardware is obsolete in less than one year.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.

Mining farms are mostly cashing out a very small portion of their mined coins. And most of the money from cashed out coins will be used to buy even better hardware. They constantly keep increasing their hardware to not fall behind since the competition between the Chinese mining farms is very high level. At this point the majority of their coins gets saved offline for when the price climbs up. They don't dump a lot at once as they can easily push back the price to sub $100 levels without much effort.

I repeat: are you sure about this?
If you go to a calculator you can see that  after buying new hardware and with electricity cost the reward ENDS after few months.
This means you have to buy new hardware.
I am sure they are making some money, but I'm not so sure they are making millions.
If it's so, then why I can't make the same by buying hardware? Calculators say income will end after 3-6 months, depending on difficulty increase.

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February 19, 2016, 10:27:13 PM
 #84

You can view the live countdown of bitcoin halving by visiting cryptocoinsnews.com
There is a widget placed which will look like this:



If you want more detailed based and a more stylish clocks, then I recommend these:

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2. Detailed version

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February 20, 2016, 03:57:17 AM
 #85

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.

Mining farms are mostly cashing out a very small portion of their mined coins. And most of the money from cashed out coins will be used to buy even better hardware. They constantly keep increasing their hardware to not fall behind since the competition between the Chinese mining farms is very high level. At this point the majority of their coins gets saved offline for when the price climbs up. They don't dump a lot at once as they can easily push back the price to sub $100 levels without much effort.

I repeat: are you sure about this?
If you go to a calculator you can see that  after buying new hardware and with electricity cost the reward ENDS after few months.
This means you have to buy new hardware.
I am sure they are making some money, but I'm not so sure they are making millions.
If it's so, then why I can't make the same by buying hardware? Calculators say income will end after 3-6 months, depending on difficulty increase.
Most mining farms are located in China. China are known to have good climate, low labor cost and low electrical cost. With these factors, their profitability is already quite high. Since big ASIC makers like Bitmain being based in China, they can potentially factor out the high shipping cost with discounts given at high ASIC buying volumes. Most farms have hardware that have already ROIed so they're making pure profits now.














 

 

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GODLIKE
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February 20, 2016, 06:38:42 AM
 #86

Most mining farms are located in China. China are known to have good climate, low labor cost and low electrical cost. With these factors, their profitability is already quite high. Since big ASIC makers like Bitmain being based in China, they can potentially factor out the high shipping cost with discounts given at high ASIC buying volumes. Most farms have hardware that have already ROIed so they're making pure profits now.

Have you ever looked into mining yourself?

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February 20, 2016, 08:13:15 AM
 #87

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
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February 20, 2016, 08:50:08 AM
 #88

It depends on the speed at which the blocks are mined. New technology -> faster time of halving. Check bitcoinclock.

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February 20, 2016, 08:57:40 AM
 #89

Google is your friend, one of the sites which predicts the halving date is:

http://bitcoinblockhalf.com/

You have to keep in mind that the Bitcoin mining algorithm is set up that roughly  every 10 minutes a
block is being mined which now is rewarded with 25 bitcoins. Every 210,000 blocks the reward is being
halved, so with this info you can roughly calculate the dates of the halving events.


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Vhawk23
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February 20, 2016, 09:16:05 AM
 #90

What is Block Halving?
//I'm still a newbie at mining btc, and sorry if this question kinda oot
bitbitch
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February 20, 2016, 09:59:06 AM
 #91

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

right now mining a block receives an economic reward of 25 bitcoins for all the effort involved. the 2016 'halving' is the reduction of the reward to 12.5 bitcoins, and it will happen in July. halving happens every four years. the last halving was in November 2012, from 50 bitcoins to the present 25 bitcoins.

This thread speculates as to what will happen to the market price of a bitcoin before and after the halving in July. Some say the price will progressively rise from now until July, and some say not. it's hard to say what will happen. in 2012 next to nothing happened to the price, but that was an entirely different bitcoin epoch.
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February 20, 2016, 10:14:25 AM
 #92

My pants will be on fire when it happens, damn, i cannot wait for it, price doubling will be awesome.

Pattart
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February 20, 2016, 10:24:58 AM
 #93

http://bitcoinblockhalf.com/
the countdown its still very long time. what should we do before halving happen?

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btcltccoins
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February 20, 2016, 10:38:57 AM
 #94

http://bitcoinblockhalf.com/
the countdown its still very long time. what should we do before halving happen?

Yes we have still four five months. We should save out bitcoins and try to buy them these days at a lower proce.
So that we can sell it later at a higher price.
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February 20, 2016, 10:40:17 AM
 #95

One thing i wonder is that when the halving will start, for how long the price of bitcoin will increase? and how much can it go up?

1000$ or 2000$..any ideas?
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February 20, 2016, 10:57:30 AM
 #96

One thing i wonder is that when the halving will start, for how long the price of bitcoin will increase? and how much can it go up?

1000$ or 2000$..any ideas?

no one know, but you can expect another 100% increase or around that probably $700 as a new bottom

i can see 1k 2k as a pean but nothing more tha that, unless some crazy thing happen
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February 20, 2016, 11:24:41 AM
 #97

My pants will be on fire when it happens, damn, i cannot wait for it, price doubling will be awesome.

No one can tell that as it can possibly go the other way around. Still, everything points out that there'll be an increase. Let's just hope so.

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February 20, 2016, 12:25:59 PM
 #98

Most mining farms are located in China. China are known to have good climate, low labor cost and low electrical cost. With these factors, their profitability is already quite high. Since big ASIC makers like Bitmain being based in China, they can potentially factor out the high shipping cost with discounts given at high ASIC buying volumes. Most farms have hardware that have already ROIed so they're making pure profits now.

Have you ever looked into mining yourself?
As far as I know these days farming countries are not that rich economically as compared to those who are relying on their industry and inorganic products. Mining might be good in china since china is affordable for every thing including farming as well but bitcoin is much better paid off than farming or mining.

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February 20, 2016, 12:34:50 PM
 #99

Most mining farms are located in China. China are known to have good climate, low labor cost and low electrical cost. With these factors, their profitability is already quite high. Since big ASIC makers like Bitmain being based in China, they can potentially factor out the high shipping cost with discounts given at high ASIC buying volumes. Most farms have hardware that have already ROIed so they're making pure profits now.

Have you ever looked into mining yourself?
I have learnt several factors about mining and done some research about it. I never thought of mining since the electrical costs are so high.

The halving would at most halve the earnings and would probably have an impact on the prices. If you didn't know, most mining farms started in around 2014 and they have made lots of profits. There are still some scrap value for the ASICs that are obsolete too. A documentary about a mining farm in China:https://youtu.be/K8kua5B5K3I.














 

 

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February 20, 2016, 01:37:12 PM
 #100

Of course you're asking about the date because you don't want to miss the halving party, right?

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