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nottm28
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March 25, 2014, 09:56:26 PM |
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S 1TH - 0.023 per round.
Sounds about right - slush's pool can expect to find approx 33 blocks per week so with 1TH you are about 0.85BTC per week... for about 2 weeks then difficulty increases and you go down by approx 18% every 2 weeks... |
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"The nature of Bitcoin is such that once version 0.1 was released, the
core design was set in stone for the rest of its lifetime." -- Satoshi
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necro_nemesis
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March 25, 2014, 10:34:36 PM |
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Just a reminder, ROI is Return On Investment. It does not mean Profit or Break Even. Your Return On Investment can be less than your original investment.
I don't get it. If you're not planning to profit from mining what's the draw? Difficulty would have to do an about face to make your mining equipment even hold value and the makers are pumping out more each day undermining it's value. If you're looking strictly for BTC to go up to get ahead, stop buying mining equipment and start buying BTC. |
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TRSundown
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Activity: 22
Merit: 0
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March 25, 2014, 11:11:11 PM |
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Its just like mining gold I guess... you have to spend money on mining equipment to dig for the gold just like buying btc mining hardware. You just hope at the end of the day that your mining equipment produces enough gold, or btc, to make it worth your while. The deeper you go into the mountain (difficulty) to get the gold the more equipment you have to buy... Its definitely not a set and forget system. You have to stay ahead of the difficulty curve and continue to reinvest some portion of your earnings to stay ahead of that curve.
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nottm28
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March 25, 2014, 11:15:36 PM |
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Its just like mining gold I guess... you have to spend money on mining equipment to dig for the gold just like buying btc mining hardware. You just hope at the end of the day that your mining equipment produces enough gold, or btc, to make it worth your while. The deeper you go into the mountain (difficulty) to get the gold the more equipment you have to buy... Its definitely not a set and forget system. You have to stay ahead of the difficulty curve and continue to reinvest some portion of your earnings to stay ahead of that curve.
As good an analogy as any. Not bad for a noob  |
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TRSundown
Newbie
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Activity: 22
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March 25, 2014, 11:18:25 PM |
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13+ hours for the round... ugg!!!   These super long rounds are killing me!!!  |
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necro_nemesis
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March 25, 2014, 11:47:19 PM |
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13+ hours for the round... ugg!!! These super long rounds are killing me!!! Walk away and stop watching.  Check once a week when it averages out. |
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amspir
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Merit: 10
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March 25, 2014, 11:52:59 PM |
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A watched pot never boils.
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faxfan2002
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Activity: 83
Merit: 10
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March 26, 2014, 09:29:02 AM |
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S 1TH - 0.023 per round.
Sounds about right - slush's pool can expect to find approx 33 blocks per week so with 1TH you are about 0.85BTC per week... for about 2 weeks then difficulty increases and you go down by approx 18% every 2 weeks... Yup, if I want to keep up reinvest "n"BTC every few weeks or save for a big jump. My feeling is the difficulty will not increase by so much in the medium term as to increase the hashing power you'd have to ship a whole load of 1TH + miners. But plan for the worst and hope for the best I view it as a semi profitable hobby more than anything else. |
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finbad2
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March 26, 2014, 10:53:54 PM |
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the only thing that would make this hobby "fun" at this time, is if the USD/BTC exchange went top $1200 again.
I blame that moron that ran MT. GoX. for taking back bitcoin 5 to 10 years.
the bottom line is, USD/BTC < $1200 not going to work.
sorry , just calling a spade a spade.
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amspir
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Activity: 112
Merit: 10
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March 26, 2014, 11:03:33 PM |
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the only thing that would make this hobby "fun" at this time, is if the USD/BTC exchange went top $1200 again.
I blame that moron that ran MT. GoX. for taking back bitcoin 5 to 10 years.
the bottom line is, USD/BTC < $1200 not going to work.
sorry , just calling a spade a spade.
I doubt that it will take 5-10 years (which makes it advantageous to mine for 5-10 years until it goes up) I have faith that Coinbase and Bitpay are going to make some serious inroads for the masses in the USA regarding bitcoin. mtGox is like myspace, just because it failed doesn't mean the whole idea of social media failed. |
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finbad2
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March 26, 2014, 11:25:28 PM |
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when your target market is 7 billion people, it can take seconds to advance, and decades to make up the decline.
still, I keep all the "golddust" I capture , for the future.
but my original point was, from a mining perspective, the cost at 600USD a "ton" is just not economical.
;O)
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TRSundown
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Activity: 22
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March 27, 2014, 05:01:56 AM |
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ARG!!! Mining_Proxy went down!!! Wont re-connect... Failure: stratum.custom_exceptions.TransportException: SocketTransportClientFactory connection timed out WTF does that mean!!!??? My whole mining setup is down! Damn IT!!!! |
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RoninMD
Newbie
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March 27, 2014, 05:39:38 AM |
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Just a reminder, ROI is Return On Investment. It does not mean Profit or Break Even. Your Return On Investment can be less than your original investment.
I don't get it. If you're not planning to profit from mining what's the draw? Difficulty would have to do an about face to make your mining equipment even hold value and the makers are pumping out more each day undermining it's value. If you're looking strictly for BTC to go up to get ahead, stop buying mining equipment and start buying BTC. Asics is disruptive technology. Scrypt-N based coins such as vert coin are asic resistant so makers can't increase the difficulty so quickly. |
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kkurtmann
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March 27, 2014, 06:21:42 AM |
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Just a reminder, ROI is Return On Investment. It does not mean Profit or Break Even. Your Return On Investment can be less than your original investment.
I don't get it. If you're not planning to profit from mining what's the draw? Difficulty would have to do an about face to make your mining equipment even hold value and the makers are pumping out more each day undermining it's value. If you're looking strictly for BTC to go up to get ahead, stop buying mining equipment and start buying BTC. Asics is disruptive technology. Scrypt-N based coins such as vert coin are asic resistant so makers can't increase the difficulty so quickly. wow! is this really your first post since you registered here in the middle of 2011? |
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STT
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Leading Crypto Sports Betting & Casino Platform
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March 27, 2014, 06:22:00 AM |
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13+ hours for the round... ugg!!! These super long rounds are killing me!!! sounds like you kids have got it easy nowadays, now back in the day it wasnt anything till a day had gone past :p
Its just like mining gold I guess... you have to spend money on mining equipment
You know the people who made most money were commonly the providers of equipment, housing and food. The exchanges and similar probably do the easiest margins |
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solitude
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March 27, 2014, 07:23:22 AM |
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Right. I get it. It's cool and trendy now to put a captcha on your login page
Slush, what's the point, half the time I have to enter the captcha twice or three times because of bullshit characters
There's times when you actually need something and times when you implement bullshit policies because it's just "what everyone else is doing"
I'm near the point of jumping pools that doesn't have a bullshit captcha to simply log in to their website
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Hardly anyone speaks English on this forum.
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kabopar
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March 27, 2014, 09:55:12 AM |
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it's been more than 30 min, and Slush block #21877 is still 'Processing...' (however the reward is already accounted for on the Account page)...  |
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TrytoHex
Member
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Activity: 86
Merit: 10
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March 27, 2014, 12:12:21 PM
Last edit: March 27, 2014, 12:57:05 PM by TrytoHex |
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it's been more than 30 min, and Slush block #21877 is still 'Processing...' (however the reward is already accounted for on the Account page)... Happens sometimes, nothing to worry about. |
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spitzilla
Newbie
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Merit: 0
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March 27, 2014, 02:08:17 PM
Last edit: March 27, 2014, 03:44:57 PM by spitzilla |
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My account information didn't update my rewards for the one block that is stuck on processing. Doesnt show any type of payment for it. Hope it gets resolved...
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Benjy_Bronk
Newbie
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Activity: 37
Merit: 0
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March 27, 2014, 04:50:05 PM |
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My account information didn't update my rewards for the one block that is stuck on processing. Doesnt show any type of payment for it. Hope it gets resolved...
It always does, and it has. |
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