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Author Topic: Swedish ASIC miner company kncminer.com  (Read 3011449 times)
s1gs3gv
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May 19, 2014, 07:59:48 PM
 #33921

So what has to happen for mining to remain profitable in 2015 ?
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samsonn25
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May 19, 2014, 08:02:54 PM
 #33922

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.
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May 19, 2014, 08:07:34 PM
 #33923

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.
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let's have some fun


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May 19, 2014, 08:11:02 PM
 #33924

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..

!! File Complaints Against KnCMiner NOW !!
..and Thou shalt spread the coin in the name of cryptography for eternity
s1gs3gv
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May 19, 2014, 08:13:28 PM
 #33925

So what has to happen for mining to remain profitable in 2015 ?
the rise in BTC price

BINGO
s1gs3gv
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May 19, 2014, 08:14:21 PM
 #33926

think of chicken farmers as an example..

Good to know we have some chicken farming experts here

~L)L~
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May 19, 2014, 08:15:18 PM
 #33927

We have Bitcoin farmer experts also.

All is Mine!

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s1gs3gv
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May 19, 2014, 08:20:22 PM
 #33928

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
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May 19, 2014, 08:23:46 PM
 #33929

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!
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May 19, 2014, 08:25:07 PM
 #33930

Say that again when quantum appears one day.

All is Mine!

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samsonn25
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May 19, 2014, 08:25:47 PM
 #33931

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.
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May 19, 2014, 08:25:53 PM
 #33932

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 !
Hah! No amount of "Faith" is going to get the "Bitcoin Mining Train" to stop, and reverse all the way back to the station for late arrivals... but I love your enthusiasm, and... gladly hand you "the torch".   Happy Mining.   Wink


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padrino
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May 19, 2014, 08:27:29 PM
 #33933

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

Much of the hash power is being consolidated more and more, that trend will continue as the big boys can still make a return when smaller operations can no longer continue.. That doesn't mean the hashrate will flatten or go down, rather continue to climb at 10-20% each diff jump as many of the larger miners continue to invest, time is money at that scale in a way the home miner can't fathom..


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s1gs3gv
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May 19, 2014, 08:34:36 PM
 #33934

One good SHA-256 exploit and the world is mine !
samsonn25
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May 19, 2014, 08:34:43 PM
 #33935

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

Much of the hash power is being consolidated more and more, that trend will continue as the big boys can still make a return when smaller operations can no longer continue.. That doesn't mean the hashrate will flatten or go down, rather continue to climb at 10-20% each diff jump as many of the larger miners continue to invest, time is money at that scale in a way the home miner can't fathom..



Thats another good point.  Even the manufacturers have a limit at which they can build, either for themselves or for investors at which it makes more financial sense to buy the btc rather than to build the machines to mine.

Probably now is about $500 per TH?  manufactuer cost, minus some r and d

At about 25 Billion diff and if they can build at .5 watt/GH and $.50/GH they are at the limit, unless some magical technology or pricing happens.
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May 19, 2014, 08:43:16 PM
 #33936

IMHO the Only chance of ROI is in fiat IF the BTC price rises exponentially...
because you will never ROI in BTC the way the difficulty is rising now.
Then, you can add add the new tax laws, pool attacks, wallet viruses, bloated blockchain, exchange closings and hacks, equipment scams, false advertising, bank delays...
It takes a "special breed" of "Glutton for punishment" imho to stay in mining at this point.
I'm happy trading early profits, and holding the coin myself, yet have machines coming still from earlier decisions.
If I had to do it all over again... "turn back the clock"... I would never have mined at all, but bought coin.
I'm guessing this will be amplified in the future.


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xstr8guy
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May 19, 2014, 09:35:48 PM
 #33937

One good SHA-256 exploit and the world is mine !

"One good SHA-256 exploit" would kill bitcoin and make it worthless. So I'm not sure what you're crowing about.

Funny how us "oldtimers" are starting to sound just like the people we despised not too long ago, lol. Time is accelerated in this business and nothing makes sense anymore.
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May 19, 2014, 09:39:42 PM
 #33938

One good SHA-256 exploit and the world is mine !

"One good SHA-256 exploit" would kill bitcoin and make it worthless. So I'm not sure what you're crowing about.

#1 I am not crowing
#2 It would make it worthless ONLY if it were published

In fact, some view the bitcoin protocol as the product of a sophisticated wager between two cryptologists.
The protocol might have been designed to provide the maximum motivation for the creation of an SHA-256 exploit.
We all are just pawns in that experiment.

Lighten Up Smiley
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May 19, 2014, 09:41:20 PM
 #33939

One good SHA-256 exploit and the world is mine !

"One good SHA-256 exploit" would kill bitcoin and make it worthless. So I'm not sure what you're crowing about.

#1 I am not crowing
#2 It would make it worthless ONLY if it were published

Lighten Up Smiley


The exclamation point made it appear to be crowing.  Wink
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May 19, 2014, 09:45:20 PM
 #33940

One good SHA-256 exploit and the world is mine !

"One good SHA-256 exploit" would kill bitcoin and make it worthless. So I'm not sure what you're crowing about.

Not if used properly. If I found an exploit I would simply use it to "steal" the millions of untouched block-rewards that are collecting dust in the early blocks and are most likely lost. Sure it would raise some eyebrows but it should be easy to sell them long before anybody realized SHA-256 was exploited causing the markets to crash.
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