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Hypnoise
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March 29, 2014, 05:59:03 AM |
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Hashing straight sha256 into btc, paying 7 btc for a dragonminer, exponential difficulty never breaks even at 0.1$/kwh. And that is the most cost-effective hardware you can buy. Correct me if I err. Those 3600 daily coins cost at least 650 usd to produce unless you build hardware from scratch in bulk.
best hardware is those which you can buy, sale or deploy by click of mouse. it is on cex.io called ghs. |
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FullLife
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March 29, 2014, 05:59:53 AM |
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Hashing straight sha256 into btc, paying 7 btc for a dragonminer, exponential difficulty never breaks even at 0.1$/kwh. And that is the most cost-effective hardware you can buy. Correct me if I err. Those 3600 daily coins cost at least 650 usd to produce unless you build hardware from scratch in bulk.
People who invest in hardware these days very rarely break even. You're much better off just buying coins with that fiat instead. |
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ChartBuddy
Legendary
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Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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March 29, 2014, 06:00:51 AM |
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BBmodBB
Full Member
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Activity: 154
Merit: 100
BTC = FREEDOM IS OUR ONLY HOPE!
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March 29, 2014, 06:04:59 AM |
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Hashing straight sha256 into btc, paying 7 btc for a dragonminer, exponential difficulty never breaks even at 0.1$/kwh. And that is the most cost-effective hardware you can buy. Correct me if I err. Those 3600 daily coins cost at least 650 usd to produce unless you build hardware from scratch in bulk.
People who invest in hardware these days very rarely break even. You're much better off just buying coins with that fiat instead. ^the 2014 ASIC machine "gold rush" is the top driving force behind bitcoins' value right now~imho =) |
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seleme
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Activity: 2772
Merit: 1028
Duelbits.com
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March 29, 2014, 06:11:08 AM |
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cbutters
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March 29, 2014, 06:13:31 AM |
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Which user account type should I select? If you have a bank account opened in Mainland China, please select Mainland China account. Otherwise, please select International account. Please note: Once this is set, it cannot be changed. What is the difference between the two account types? Mainland China account can: Fund through: 1. Yi Jin Dong 2. Bank Transfer 3. BTCC Voucher Withdraw to: 1. BTCC Voucher 2. Bank Account International account can: Fund through: 1. BTCC Voucher Withdraw to: 1. BTCC Voucher Note: For CNY fund/withdraw assistance, please email us at voucher@btcchina.com. I think its bullish? an alternative means of funding bitcoin, through a different bank than PBOC? I'm not sure what Yi Jin Dong is. |
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seleme
Legendary
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Activity: 2772
Merit: 1028
Duelbits.com
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March 29, 2014, 06:15:14 AM |
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Which user account type should I select? If you have a bank account opened in Mainland China, please select Mainland China account. Otherwise, please select International account. Please note: Once this is set, it cannot be changed. What is the difference between the two account types? Mainland China account can: Fund through: 1. Yi Jin Dong 2. Bank Transfer 3. BTCC Voucher Withdraw to: 1. BTCC Voucher 2. Bank Account International account can: Fund through: 1. BTCC Voucher Withdraw to: 1. BTCC Voucher Note: For CNY fund/withdraw assistance, please email us at voucher@btcchina.com. I've read that but what does it means, lol? |
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fonzie
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March 29, 2014, 06:16:13 AM |
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bullrun / crash not sure which one first  |
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seleme
Legendary
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Activity: 2772
Merit: 1028
Duelbits.com
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March 29, 2014, 06:17:09 AM |
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bullrun / crash not sure which one Lol, exactly. |
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cbutters
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March 29, 2014, 06:19:59 AM |
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Well its obviously a response to PBOC... the exchanges WONT be shut down. Just using alternative banks / vouchers. BTCC vouchers allow you to buy at BTC-e and move the funds to chinese exchange right?
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JorgeStolfi
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March 29, 2014, 06:20:01 AM |
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I suppose that they are preparing for a closure of the mainland bank accounts? So the owner of an international account would buy international BTCC vouchers from some outlet that sells them, then send them (digitally I presume) to BTC-China. Or vice-versa. Presumably those international vouchers cannot be bought or sold in China. Otherwise I suspect that the PBoC will not let them do it. |
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seleme
Legendary
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Activity: 2772
Merit: 1028
Duelbits.com
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March 29, 2014, 06:21:30 AM |
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It looked bit bullish to me this from btcchina but then again you never know with them.
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seleme
Legendary
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Activity: 2772
Merit: 1028
Duelbits.com
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March 29, 2014, 06:22:39 AM |
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Well its obviously a response to PBOC... the exchanges WONT be shut down. Just using alternative banks / vouchers. BTCC vouchers allow you to buy at BTC-e and move the funds to chinese exchange right?
From BTC-e? Where's that option there? |
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JorgeStolfi
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March 29, 2014, 06:22:58 AM |
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BTC-China operated on a voucher system exclusively for some time after the december PBoC decree. Its volume was very small and seemed to be only arbitrage. They only started to recover after they enabled bank deposit/withdrawal.
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seleme
Legendary
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Activity: 2772
Merit: 1028
Duelbits.com
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March 29, 2014, 06:27:24 AM |
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BTC CHina basically defies the rumor with this...
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windjc
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Activity: 2156
Merit: 1070
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March 29, 2014, 06:28:26 AM |
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BTC CHina basically defies the rumor with this...
I guess I am confused by the "options". It seems like internationals are more restricted than mainland chinese, who seem to have all kinds of options. What am I missing? |
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seleme
Legendary
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Activity: 2772
Merit: 1028
Duelbits.com
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March 29, 2014, 06:30:07 AM |
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BTC CHina basically defies the rumor with this...
I guess I am confused by the "options". It seems like internationals are more restricted than mainland chinese, who seem to have all kinds of options. What am I missing? Yep, Chinese can fund and withdraw with banks, internationals only with vouchers. I'm fine with that if that's it. That's bullish. |
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cbutters
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March 29, 2014, 06:30:32 AM |
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At the very least.. it CLEARLY says
Mainland China account can:
Fund through: 1. Yi Jin Dong 2. Bank Transfer 3. BTCC Voucher
Withdraw to: 1. BTCC Voucher 2. Bank Account
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creekbore
Full Member
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Activity: 210
Merit: 100
Lazy, cynical and insolent since 1968
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March 29, 2014, 06:31:40 AM |
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So they are implementing a voucher system like they did for fiat deposits, but now we have vouchers for BTC instead.
If this is true then clearly its not tenable, what next --- vouchers for vouchers for BTC, followed by a ban on vouchers and all words synonymous with the concept of exchange.
It's a game of cat and mouse but the cat has access to the biggest army in the world.
Its ironic that if BTC wasn't so heavy on idealism ("let's bring down govt and rip up roads") the Chinese govt probably wouldn't be so scared of it.
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