Swedish ASIC miner company kncminer.com

[samsonn25]

The organization should propose a changing algorithm to make it more even for the small people again.

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[xstr8guy]

There is no long term in btc mining land.  Usefullness of products are now 90 days or less.  We are less than 60 days away from when manufacturers cant even make machines that are profitable to use minus electricity, mining will be a hobby by then.

^^ This ^^

I'm continually stunned when I read things like this (paraphrased for emphasis)... "Oh but KNC are the best! I may have to wait 3 more months for the same amount of THs at a higher price. But my machine will run for 10 years."

And when that machine does finally arrive, it won't even pay for the electricity it uses after the previous 8 or 9 difficulty jumps.

Well at least by then the weather will have started to cool down and you can use your Neptunes as supplemental heat while I struggle to keep my house below 85f during the summer months.  

[samsonn25]

There is no long term in btc mining land.  Usefullness of products are now 90 days or less.  We are less than 60 days away from when manufacturers cant even make machines that are profitable to use minus electricity, mining will be a hobby by then.

^^ This ^^

I'm continually stunned when I read things like this (paraphrased for emphasis)... "Oh but KNC are the best! I may have to wait 3 more months for the same amount of THs at a higher price. But my machine will run for 10 years."

And when that machine does finally arrive, it won't even pay for the electricity it uses after the previous 8 or 9 difficulty jumps.

Well at least by then the weather will have started to cool down and you can use your Neptunes as supplemental heat while I struggle to keep my house below 85f during the summer months.  

When people get their FREE Neptune in Sept and diff is 30 B it will ROI $500

[s1gs3gv]

I am always amazed by the number of people who feel that they can predict the future 2 or 3 months from now but can not win a game of rock, paper and scissors.

~L)L~

[tzortz]

There is no long term in btc mining land.  Usefullness of products are now 90 days or less.  We are less than 60 days away from when manufacturers cant even make machines that are profitable to use minus electricity, mining will be a hobby by then.

^^ This ^^

I'm continually stunned when I read things like this (paraphrased for emphasis)... "Oh but KNC are the best! I may have to wait 3 more months for the same amount of THs at a higher price. But my machine will run for 10 years."

And when that machine does finally arrive, it won't even pay for the electricity it uses after the previous 8 or 9 difficulty jumps.

Well at least by then the weather will have started to cool down and you can use your Neptunes as supplemental heat while I struggle to keep my house below 85f during the summer months.  

When people get their FREE Neptune in Sept and diff is 30 B it will ROI $500

$500 is nice.

[samsonn25]

I am always amazed by the number of people who feel that they can predict the future 2 or 3 months from now but can not win a game of rock, paper and scissors.

~L)L~

Its a statistical fact that the difficulty now is 800x higher than it was last May.

Also a statistical fact that the smallest diff jump was 8.6% and highest was 46% during the year.  The mean average being 23%

[xstr8guy]

I am always amazed by the number of people who feel that they can predict the future 2 or 3 months from now but can not win a game of rock, paper and scissors.

~L)L~

So you must think the difficulty is going to decline then... Or just stay stagnant?

Oh, and...

ROCK

[s1gs3gv]

Its a statistical fact that the difficulty now is 800x higher than it was last May.

Also a statistical fact that the smallest diff jump was 8.6% and highest was 46% during the year.  The mean average range is between (11-23%)

Please answer these questions for me:

1) What will the price of BTC be on Jan. 1, 2015 ?

2) What will the difficulty be on Jan. 1 2015 ?

[samsonn25]

Its a statistical fact that the difficulty now is 800x higher than it was last May.

Also a statistical fact that the smallest diff jump was 8.6% and highest was 46% during the year.  The mean average range is between (11-23%)

Please answer these questions for me:

1) What will the price of BTC be on Jan. 1, 2015 ?

2) What will the difficulty be on Jan. 1 2015 ?

1.  I dont know.  

2.  Im sure diff in Jan 1 2015 will be ALOT higher than it is now, which we already have a problem of roi and hardware.

The point being.  Pre-orders of Neptune was not a good idea.

[s1gs3gv]

So what has to happen for mining to remain profitable in 2015 ?

[samsonn25]

So what has to happen for mining to remain profitable in 2015 ?

It cannot be sustained,

Only the rise in BTC price can help slow down the madness that the Asic has brought to the marketplace.

I stopped mining and sold 1.8TH equipment last month and bought a few btc just to sit on it.

[faetos]

Mining for manufacturer miners to ROI in 2015. promise, delay, delay some more, and just screw yet customers in the end. For us, unless we see some incredible advances on power consumption to hashing power then I just don't see an ROI. We're at the edge right now on that and pretty soon hobbyist mining for btc will no longer make any sense. I just don't see myself mining anymore at the end of the year unless something changes.

[btc_uzr]

think of chicken farmers as an example..

For sure there was a point in time where profit decreased and most of them were hoping for better prices, but all what happened was that very few investors build huge mega farms (in our case datorhalls) growing larger and larger producing for a tiny profit per chicken. And due to the masses they make a good profit at the end.
Average farmer Joe can compete and even could buy those chickens cheaper from the mega-farms than his own price costs would be.
For BTC it's even worse, because as small miner you can't just produce a coin of 'better quality' and charge more for it to survive, like a farmer could sell organic chickens..

[s1gs3gv]

So what has to happen for mining to remain profitable in 2015 ?

the rise in BTC price

BINGO

[s1gs3gv]

think of chicken farmers as an example..

Good to know we have some chicken farming experts here

~L)L~

[tzortz]

We have Bitcoin farmer experts also.

[s1gs3gv]

You guys have been spoilt by the era of easy money in bitcoin mining and have lost the faith.
Time to turn it over to the next generation !

[daddyfatsax]

You guys have been spoilt by the era of easy money in bitcoin mining and have lost the faith.
Time to turn it over to the next generation !

It was not that easy. You fucking kids have it all easy now with your fancy asics. In my day we used a CPU or GPU to mine BTC, and we liked it!

[tzortz]

Say that again when quantum appears one day.

[samsonn25]

I wouldnt mind going back in time and running my gpu at low power 30-60%  to contribute to network and get some small amount of btc.  But when the electricity cost alot more to run than the reward it doesnt make sense.