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

[necro_nemesis]

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.

[TRSundown]

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.

[nottm28]

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

[TRSundown]

13+ hours for the round... ugg!!!      These super long rounds are killing me!!!  

[necro_nemesis]

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.

[amspir]

A watched pot never boils.

[faxfan2002]

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.

[finbad2]

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.

[amspir]

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.

[finbad2]

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)

[TRSundown]

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!!!!

[RoninMD]

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.

[kkurtmann]

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?

[STT]

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

[solitude]

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

[kabopar]

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)...

[TrytoHex]

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.

[spitzilla]

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...

[Benjy_Bronk]

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.

[salladin]

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