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rizzman
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September 28, 2013, 03:57:09 AM
Last edit: September 28, 2013, 04:38:43 AM by rizzman |
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Coins don't explode in value just because miners are interested in them. Higher supply equals lower demand. Services using these coins are what matters. And BTC has all the momentum. No need for Litecoin as the "silver" to Bitcoins "gold" when BTC is both "silver" and "gold". Although alts might have short term value when attempting to trade them for BTC.
Plus you can't just easily point an ASIC to a different coin. It's not like an FPGA with a memory chip.
...The supply is not going to change, the distribution is the only thing that changes... As for the mining Alt-coins with it, read up. There's plenty of people using their ASIC's to mine SHA clones... Remember... the hash is nothing more than mathematical calculations , if the numbers that are fed into the machine utilize the same algorithm, then the numbers it spits out can apply to any of them.. https://forums.butterflylabs.com/jalapeno-single-sc-support/3678-mining-altcoins-bfl-miners.html |
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It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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Searing
Copper Member
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Activity: 2898
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Clueless!
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September 28, 2013, 04:46:25 AM |
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Honestly, the best people I think can hope for is that CoinTerra and HashFast fold. If you have a November KnC order, you may have only bought yourself a nice space heater for the winter.
The amount of new companies releasing hardware are going to cause the difficulty to run away from everyone. This is going to get bad. If you are buying next-gen hardware with BTC, you will be at a loss. If you are buying with cash, it might be better to just buy BTC directly instead.
That's a terribly pessimistic outlook. When GPU's were no longer any use for mining bitcoin, gpu miners swopped over to litecoin. When the lower end asic miner no longer mine enough BTC to make it worthwhile, they'll switch to an alt too. I assume people with jalapeno's are mining zetacoin or something like that, rather than huddling round it for heat. I'd say it's fairly likely we'll see a SHA256 alt coin explode in 2014 for this reason. It's pessimistic but it's true. There are a lot of people interested in mining now. You can thank the April bubble for that. A lot of greedy people out there. They just don't have any clue as to what they're getting in to. Mining has almost never been about mining for profit. The brief FPGA era wasn't too bad because not that many were involved as they are now. ASIC's are just too fast and specs are going to start upgrading every 3 months. And everyone wants one. The only profit in mining is for the hardware developers. Coins don't explode in value just because miners are interested in them. Higher supply equals lower demand. Services using these coins are what matters. And BTC has all the momentum. No need for Litecoin as the "silver" to Bitcoins "gold" when BTC is both "silver" and "gold". Although alts might have short term value when attempting to trade them for BTC. Plus you can't just easily point an ASIC to a different coin. It's not like an FPGA with a memory chip. here is an interview with sam cole (sound file) about a device to mine all alt coins also the silliness of all the asic mnfg companies shipping w/o taking into consideration miners making a profit...ie miners have to make a profit to buy more miners in the future..interesting stuff my 2c worth Searing |
Old Style Legacy Plug & Play BBS System. Get it from www.synchro.net. Updated 1/1/2021. It also works with Windows 10 and likely 11 and allows 16 bit DOS game doors on the same Win 10 Machine in Multi-Node! Five Minute Install! Look it over it uninstalls just as fast, if you simply want to look it over. Freeware! Full BBS System! It is a frigging hoot!:) |
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zedicus
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CryptoTalk.Org - Get Paid for every Post!
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September 28, 2013, 05:05:58 AM |
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^^ Nice link ..
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Phoenix1969
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LIR DEV
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September 28, 2013, 06:16:33 AM |
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erk
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September 28, 2013, 06:20:53 AM |
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https://soundcloud.com/mindtomatter/e45-perspective-counts-lets here is an interview with sam cole (sound file) about a device to mine all alt coins also the silliness of all the asic mnfg companies shipping w/o taking into consideration miners making a profit...ie miners have to make a profit to buy more miners in the future..interesting stuff my 2c worth Searing Interesting interviews, but omg the overuse of the word "space" it sounded like a bunch of gen y art graduates having a discussion over a latte. It's like journalism on the emerging crypto technology has been suddenly hijacked by the fashion industry! I cringed several times. |
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Biomech
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Anarchy is not chaos.
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September 28, 2013, 06:24:42 AM |
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https://soundcloud.com/mindtomatter/e45-perspective-counts-lets here is an interview with sam cole (sound file) about a device to mine all alt coins also the silliness of all the asic mnfg companies shipping w/o taking into consideration miners making a profit...ie miners have to make a profit to buy more miners in the future..interesting stuff my 2c worth Searing Interesting interviews, but omg the overuse of the word "space" it sounded like a bunch of gen y art graduates having a discussion over a latte. It's like journalism on the emerging crypto technology has been suddenly hijacked by the fashion industry! I cringed several times. Let's hope so! Fashion reporters sell fashion. And fashion has one hell of a premium, even when it's ugly. My wife is into Tiffany jewelry and Louis Vuitton purses. Neither are all that well made, and the markup over materials on them is like 900 percent! Get that sort of crowd thinking BTC is "cool" and watch the exchange skyrocket! |
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plasmoske
Sr. Member
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The realist
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September 28, 2013, 06:27:21 AM |
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Yep it was always "in customers hands in Sept". They got a few days left otherwise yeah, it's delayed.
We'll probably start seeing something early next week - and that's being optimistic.
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Meizirkki
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September 28, 2013, 06:31:55 AM |
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As we are now in production we can’t say for sure that your boxes will be ready for pickup on Monday.
There are no pickups before Monday in any case.
Most likely all your orders will be ready early next week, but that does bring us into October I’m afraid. |
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plasmoske
Sr. Member
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The realist
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September 28, 2013, 06:59:18 AM |
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So no pickups before Monday. Excellent. So pickups on Monday then. I'll book my tickets now.  |
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merv77
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September 28, 2013, 07:04:41 AM |
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maybe in hand (delivered) on September could be referring to people picking up miners only.
who's picking up their miners..? Are you going to KnC on Monday..? What are KnC telling the pick up customers to do..?
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Anenome5
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September 28, 2013, 07:07:48 AM |
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If they start my miner hashing in their colo center on Monday, I'll consider that a delivery.
And on-time.
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Democracy is the original 51% attack.
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plasmoske
Sr. Member
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The realist
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September 28, 2013, 07:12:53 AM |
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As far as I know, pickups/deliverys or anything, nothing has been said so far.
So pretty much, everyone is just waiting for the news/word from them.
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merv77
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September 28, 2013, 07:33:15 AM |
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Just when hosting option starts looking like a better option.. here's a new fear to throw into the mix.
I for one think that the hosting option will be more of a delay then the delivery side of things.
I only think this because of the photos they published building their data center. (i'm a sparky and cable guy by trade)
in the photos they were constructing the cabinets that hold the miners, but I couldn't see any cabling yet.. it looks to neat for the cabling to have started.
how many units are they hosting..?
1. they will need 240v cabling for all the miners, earthing on all cabinets, etc.. (this sort of thing cannot be rushed)
2. they will need network cable to all the miners, switches and routers configured, etc..
note: the above wiring needs to be tested and inspected for safety before it can actually be used.
the people who are using the hosting option how are you going to confirm you miner is hashing, It could be a while before they actually have remote or online viewing for your miners.
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plasmoske
Sr. Member
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Merit: 251
The realist
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September 28, 2013, 07:47:26 AM |
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Just when hosting option starts looking like a better option.. here's a new fear to throw into the mix.
I for one think that the hosting option will be more of a delay then the delivery side of things.
I only think this because of the photos they published building their data center. (i'm a sparky and cable guy by trade)
in the photos they were constructing the cabinets that hold the miners, but I couldn't see any cabling yet.. it looks to neat for the cabling to have started.
how many units are they hosting..?
1. they will need 240v cabling for all the miners, earthing on all cabinets, etc.. (this sort of thing cannot be rushed)
2. they will need network cable to all the miners, switches and routers configured, etc..
note: the above wiring needs to be tested and inspected for safety before it can actually be used.
the people who are using the hosting option how are you going to confirm you miner is hashing, It could be a while before they actually have remote or online viewing for your miners.
Good points. Could be a possible reason why it's taken so long. Would it be fair to ship out orders that are marked for delivery while hosted miners are still waiting for setup? I think a lot of people would be bitching if this was so. Maybe they're trying to get everything all up and working before they ship anything. I haven't even seen any control panel, web interface, or anything yet. Only thing I've seen is the layout of the kncminer pool website but that was in Photoshop (3 weeks ago).  |
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operador
Newbie
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September 28, 2013, 08:39:10 AM |
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^so much speculating, you guys are crazy, wait for facts and stop inventing between the lines!!
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Biomech
Legendary
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Anarchy is not chaos.
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September 28, 2013, 08:41:05 AM |
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^so much speculating, you guys are crazy, wait for facts and stop inventing between the lines!!
Oh, but this is fun!  |
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plasmoske
Sr. Member
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The realist
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September 28, 2013, 08:46:47 AM |
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Speculating/discussions are fun. Sitting around refreshing a website/waiting for updates is boring.
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operador
Newbie
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September 28, 2013, 08:46:58 AM |
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^so much speculating, you guys are crazy, wait for facts and stop inventing between the lines!!
Oh, but this is fun! Ah, got it, so you're in here for the comedy? |
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plasmoske
Sr. Member
Offline
Activity: 308
Merit: 251
The realist
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September 28, 2013, 08:51:20 AM |
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Hey at least we're on topic. (This post doesn't count!  ) Fun != comedy. |
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merv77
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September 28, 2013, 08:52:36 AM |
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^so much speculating, you guys are crazy, wait for facts and stop inventing between the lines!!
Oh, but this is fun! + 1 and I've got skin in the game. hey we did all know this bitcoin business was risk before we purchased these miners, right..? and delays could/should be expected. ahh, just another day in bitcoin land. What else is new |
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