[4+ EH] Slush Pool (slushpool.com); Overt AsicBoost; World First Mining Pool

[nicklello]

I knew that rpandassociates. I was trying to elicit new and funnier ones from the newbs.

... but is it feasible that the sudden increase in Hashrate causes duplication of work assigned ?

[kkurtmann]

No. I think the bigger worry is the falling price of BTC. Cost almost as much in electricity as it makes with newer efficient equipment.

[smilingloki]

No. I think the bigger worry is the falling price of BTC. Cost almost as much in electricity as it makes with newer efficient equipment.

at $294.30 i will shut my miners off, it becomes a non viable proposition after that.

[kkurtmann]

$283.91 on bitstampUSD. Sayonara smilingloki.

[smilingloki]

$283.91 on bitstampUSD. Sayonara smilingloki.

FFS!! it was at 306 this morning!


 283.80 USD
bid: 283.90    ask: 283.71


Oh that sux - if the wife sees this, she'll order shutdown!

[kkurtmann]

This is why we keep her in the dark. Happy wife equals happy life.

[BTC-TMXSTAR]

Hi!

Is this still available?

https://www.buytrezor.com/slushpool/

[SargeR33]

Unfortunately for me @ $250 I'll be switching my miners off too

[desired_username]

Would any newbies please enlighten me, why you started mining in the first place?

Have you checked the historical difficulty and exchange rates?

[SargeR33]

Absolutely I have, anything above $250 and current difficulty(even a small increase) is still profitable at the rate I pay for electricity here. I came in when I saw some consistency with the value around the 330 - 340 mark.

I've mined just under half a bitcoin in 3 weeks with miners running 8 - 10hrs a day. I've also flipped some miners for some small profits. I've also leased out my miners during the XPY rush. That yielded a couple hundreds in a matter of days. I can probably make more money flipping miners and equipment but the mining part alone has been worth it.

[kkurtmann]

Absolutely I have, anything above $250 and current difficulty(even a small increase) is still profitable at the rate I pay for electricity here. I came in when I saw some consistency with the value around the 330 - 340 mark.

I've mined just under half a bitcoin in 3 weeks with miners running 8 - 10hrs a day. I've also flipped some miners for some small profits. I've also leased out my miners during the XPY rush. That yielded a couple hundreds in a matter of days. I can probably make more money flipping miners and equipment but the mining part alone has been worth it.

XPY rentals certainly made good profits for me netting 8-14 days of BTC earnings per day (made a months worth of bitcoin at my hashrate in just 4 days). Too bad it was short lived.

[edonkey]

Is this still available?

https://www.buytrezor.com/slushpool/

I think so. I started mining on slush for the first time several days ago. The expected 33% off offer appeared in my dashboard around 3 days later.

But I haven't tried to buy a Trezor with the discount yet. The recent BTC price slide of 15% in a week has given me pause...

Does anyone know how long the 33% discount is good for once it appears in the dashboard?

[kkurtmann]

Is this still available?

https://www.buytrezor.com/slushpool/

I think so. I started mining on slush for the first time several days ago. The expected 33% off offer appeared in my dashboard around 3 days later.

But I haven't tried to buy a Trezor with the discount yet. The recent BTC price slide of 15% in a week has given me pause...

Does anyone know how long the 33% discount is good for once it appears in the dashboard?

Should be forever if they already gave it to you. I paid one BTC for my first one and I still think it was worth it (bought two more since then at a much cheaper price).

[kkurtmann]

Holy network hashrate Batman! Way to drive out the little guys.

[rpandassociates]

BTC price shouldnt stop you from mining you just need to hold the coins until the price comes back up

I only off load my coins at the end of the month as its time to pay billls it is only the 5th so I am not to worried I am sure the price will come back up by the end of the month

If not then well I will just have to sit on them till it does I never exchange my BTC for less than $320 I would rather sit on them as a long term investment then be looking back one day and saying man I sold them for 250 and now they are worth 450 yes its a wet dream to imagine them over 1k like years ago not saying it couldnt happen. If it did I would be saying man I sold them at 400 haha

Remember that old kenny song
"you gots to know when to hold them, know when to fold them, know when to walk away , and know when to run" Thats what I did with the XPY rush I mined a ton rented a few rigs mined a ton more dumped them all as soon as they started sliding south and man I am so glad I was well informed of its pump and dump potential I rode that wave to the top then jumped off the backside before it crashed. Gots to say I made 4x times what i would have if i had been mining BTC those few days. Not saying XPY is a dead fish, it will flop around a bit before falling back in the water and my future telling hat says its a good bet to hover around 7$ per coin one day. They have alot of marketing and some VC investors behind them. And they are trying hard with paybase. It still screams pump and dump as of right now though.

As far as bitcoin volatility its all these investors causing it, to their own demise, everyone trying to make a buck off of it liquidating its value with short term cashout investments market manipulation and so on.
I tell you one thing if it does go near $200 I will be buying and holding.

My electricity is .10KW I pay about $90 a month for 1.5Th/s I just added 2 more s3's and a c1 this month so I expect my new bill to be about $140-160 I was earning about $270 a month with the 1.5ths I expect much more now I am running 3.5 th/s  today was a great day at slushes If only every day could be like this I would be making a rather nice profit thats ove .06 BTC in roughly 24hrs like $17 at todays rates 17 x 30 ='s 510 minus electric (160) $350 profit (so profit is profit and there is no way I am shutting my miners down) even if it was only a $100 profit its still profit Have to ROI the hardware so cant shut them off hahaha i spent 860$ on the new hardware well plus a bit less than $300 for the PSU's

Now if every day could be as good as today I would be in heaven but theres been days here at slushes where there have been 27hr blocks and naturally those days kill me last month was horrible I only fetched $157 normally $270 for the 1.5 th/s light bill was $180 ($90 from mining)
If i could only setup a 10kw solar power system i would be all set I live in florida so wind turbines are not a possibility not enough wind or else i would go out and get a bunch of boat wind turbines hahaha I need to move to washington by the hydro electric plants they have some of the cheapest electricity in the US
Or build my self a micro nuclear reactor in the back yard ( I am joking dont call the NSA on me ) 
Maybe move to saudi arabia dont they have free electricity ? I seen a apartment for rent here all utilities included fill it with miners, i wonder if they could terminate the lease because the electric bill go to high? That would be a first for the courts "well your honor i had to evict him for mining BTC"
Hell I bet my electric company already thinks I am growing pot or something surely my electric bill is double everyone else in the neighborhood not to mention the growhouse like exhaust fans in the windows hahaha

23376    2015-01-05 02:18:12    3:31:13    33989167304    9998280    0.00728615    337538    25.22617999    82 confirmations left
23375    2015-01-04 22:46:59    1:16:52    12287259975    3594613    0.00701987    337516    25.06428187    60 confirmations left
23374    2015-01-04 21:30:07    2:19:16    22322832311    6600165    0.00735157    337502    25.00926052    46 confirmations left
23373    2015-01-04 19:10:51    0:02:58    477591840            142128      0.00711907    337487    25.08785340    31 confirmations left <--- wow if only this could happen all day
23372    2015-01-04 19:07:53    0:17:07    2743872787    774593    0.00709074    337486    25.09218533    30 confirmations left <--- wow if only this could happen all day
23371    2015-01-04 18:50:46    6:55:24    66947974717    19790400    0.00734114    337483    25.09901854    27 confirmations left
23370    2015-01-04 11:55:22    2:47:50    27145471987    7998620    0.00716293    337433    25.07058308    confirmed
23369    2015-01-04 09:07:32    7:25:35    71356222019    21061223    0.00731794    337417    25.18287706    confirmed
23368    2015-01-04 01:41:57    4:33:39    43996283153    12819438    0.00721578    337359    25.05021708    confirmed

So the question now is ... Is our luck all burned up here comes the 27hr block?

[MrTeal]

BTC price shouldnt stop you from mining you just need to hold the coins until the price comes back up

Sure it should. Regardless of my views on the future of Bitcoin, why would I spend $3000 on electricity in a month to mine BTC10 when I could idle my gear and just go buy BTC10 on an exchange for $2500?

[rpandassociates]

damn Mr. Teal 3k for electricity where do you live on some island in the middle of nowhere?

I mine almost 1 BTC a month for $90 with 1.5TH/s now I have 3.5 TH/s I should be mining a bit more than 1 BTC @ about $140 electricity cost

I am in Florida and are cost is .10KW which is pretty high compared to other places

I think Saudi arabia is definately calling your name

Or you need some more efficent mining hardware, are you running dinosaurs?

[kkurtmann]

Speaking of dinosaurs... anyone want to buy a Terraminer?

[MrTeal]

damn Mr. Teal 3k for electricity where do you live on some island in the middle of nowhere?

I mine almost 1 BTC a month for $90 with 1.5TH/s now I have 3.5 TH/s I should be mining a bit more than 1 BTC @ about $140 electricity cost

I am in Florida and are cost is .10KW which is pretty high compared to other places

I think Saudi arabia is definately calling your name

Or you need some more efficent mining hardware, are you running dinosaurs?

It's called an example, I suppose I could have used 1BTC, $300 and $250. Same basic idea.
I pay $0.135/kWh. With 3kW of power, that'd be $302 in power a month. If you're running 1J/GH gear, 3TH/s would mine BTC1.11/month. At 1J/GH, I'd be effectively paying $272/BTC. I'm under 1J/GH on average, but it's getting close.

Regardless, the point stands. If you need to spend more in fiat on electricity to mine X bitcoin than the current value of that bitcoin, you should either just buy X bitcoin and save the extra cash, or use the same amount of cash to buy more than X bitcoins.

[rpandassociates]

Mr. Teal
.135 per kwh is pretty high however i think your math is off a bit

a general rule of thumb is 1w ='s 1 GH the latest hardware is a bit more efficent than that. That fits the antminer S2 example but lets use that for siplicity and for sake of not breaking out a calculator, cant find mine its in a junk drawer somewhere and I am to lazy to open the one on my desktop

so 2 antminer s2's as I mine a averag 1 BTC per month with 1.5 Th/s
so 2000 GH/s ='s 2000 or 2KW
2kw x .14 kwh ='s .28 per hr x 24 hrs = 5.60 per day x 30 days = 168 per month
Mines say 1.2 (should be higher at 2 TH/s)  BTC todays  price $270 so $326 approximately once again not getting out a calculator
326$ - $168 ='s $158 profit @ $250 per BTC ='s $300 - $168 electricity ='s $132 profit Not much a difference between 270/250 BTC value
now for shits and giggles lets multiply that by 10 x thats 1300+k per month not a bad side income.

Yesterday was a great day at slushes I mined over .06 BTC for 3.5 TH/s
so lets use the S2 example again
3500 kw @ .10kwh
.35 per hour  x 24 hrs  ='s 8.40 8.40 x 30 ='s 252
.o6 BTC right now ='s like $17
$17 x 30 = $510 - 252 electricity ='s $258 profit
Now I run 5 x antminer s3+'s and a antminer c1 I just got in around the dec 27th all of them a bit more efficent than 1w per GHS plus I only use platinum rated PSU's plus I take every other pratical measure to reduce my familys electricity consumption  LED light bulbs shutting lights off and appliances etc. its a never ending task they all know how to turn a switch on but none of them know how to turn a switch off haha
And also because its winter and I have this toasty farm running I have yet to turn my heater on I just turned my mining rig around so that in itself is compensating for electricity I would of been running the heater

Naturally this all hinges on a steady stream of luck here at slushes because a few days of a long block and it totally ruins the equation and eats up the profits. Now that alone draws me to the larger pools as they are steadier but the payouts are less because its a percentage of the pool and with such a larger pool my little 3.5 TH/s isnot a very large percentage so i do better here at slushs and do the daily Block finding dance

In the end though if your spending more on electricity than your bringing in yes by all means makes no sense. Either time to find cheaper or free energy alternatives, or get more efficient hardware, I.e. move to saudi arabia eneergy is free and get some S5's they are pretty efficient thats my next purchase