Off-Topic

[newguy05]

The end game is in sight for all of us "wanna be" miners anyways,,,, we will be a drop in the bucket,,,more like in the ocean soon. It will all be a waste of money, our moment is passing now faster then we all thought even 2 months ago. The big well funded operations will put just about everyone out of business in the asic world. Reality check time!

Read..this just for starters.....

http://www.coindesk.com/bitmine-to-drop-4phs-of-asic-power-onto-bitcoin-network-before-april/

Tip: Invest in plain ol Bitcoins now while you can, not small pocket change asics....

Agreed on hardware, it's a race to the bottom, the final balance will be when hardware retails for about the same as the cost to make them, while equals to btc mined + market price. At that point, noone will be making more hardwares as it's no longer profitable and the network difficulty will finally level off and flat line.

Disagree on invest in btc right now, the current raise in btc price is again fueled almost 100% by the rush to buy asic hardware, not any real demand. There will be a double whammy on price once the asic buying frenzy levels off by end of year AND the majority of the btc will be mined by asic farms etc...from people who are eager to get money back from their initial investment, the prices will drop again.  So i would wait until at least early next year before buying unless price drops to the $70-80 support level before then.

Sometimes the best plan is inaction, i would wait and see.

[1714056917]

1714056917

[1714056917]

1714056917

[atomicchaos]

I often see this argument, and it makes no sense. If I buy 1 KncMiner Jupiter, and someone else buys 10 Jupiters, I make exactly 1/10th as much BTC as the guy who bought 10 Jupiters, so our ROI is exactly the same in percentage terms.

The only way the big miner has an advantage is if they can someone obtain hardware at a lower cost than the small miner, which is not currently the case with most ASIC hardware manufacturers.

You are right in most cases, unless you are a very large operation. Then you factor in static costs that get spread over all of your miners such as a lease, internet, or such costs that don't necessarily increase for each added miner.

[atomicchaos]

Sometimes the best plan is inaction, i would wait and see.

Very wise.. On both the ASIC side and Scyrpt mining side, now is not the time to buy. Wait until the ASICs flood the market and pick off the weak hands in a buyers market.

On the GPU side, there will be many price reductions in the near future, don't buy too many now

[MinermanNC]

The end game is in sight for all of us "wanna be" miners anyways,,,, we will be a drop in the bucket,,,more like in the ocean soon. It will all be a waste of money, our moment is passing now faster then we all thought even 2 months ago. The big well funded operations will put just about everyone out of business in the asic world. Reality check time!

Read..this just for starters.....

http://www.coindesk.com/bitmine-to-drop-4phs-of-asic-power-onto-bitcoin-network-before-april/

Tip: Invest in plain ol Bitcoins now while you can, not small pocket change asics....

Agreed on hardware, it's a race to the bottom, the final balance will be when hardware retails for about the same as the cost to make them, while equals to btc mined + market price. At that point, noone will be making more hardwares as it's no longer profitable and the network difficulty will finally level off and flat line.

Disagree on invest in btc right now, the current raise in btc price is again fueled almost 100% by the rush to buy asic hardware, not any real demand. There will be a double whammy on price once the asic buying frenzy levels off by end of year AND the majority of the btc will be mined by asic farms etc...from people who are eager to get money back from their initial investment, the prices will drop again.  So i would wait until at least early next year before buying unless price drops to the $70-80 support level before then.

Sometimes the best plan is inaction, i would wait and see.

Good point, but you really think we could see 70.00 BTC again?...only thing is what the regulators may bring on us,,,outside of that i see it growing still...maybe best to wait tho 

[MinermanNC]

Sometimes the best plan is inaction, i would wait and see.

Very wise.. On both the ASIC side and Scyrpt mining side, now is not the time to buy. Wait until the ASICs flood the market and pick off the weak hands in a buyers market.

On the GPU side, there will be many price reductions in the near future, don't buy too many now

Yep. ya know,,,someone or somebody like amd radeon,,,needs to develop an ass kicking scrypt card/board that is extremely powerfull yet energy efficient...maybe even dedictaed specifically towards mining.... a new horizon awaits for scrypt mining in the near future I really believe so,,,Hey Terrahash,,,any good scrypt board developers out your way or on your team?...Hook up with them,,and you could be the new leader of the pack in a whole new avenue of mining,,,somebodys going to develop something one day...who will it be?  Personally I like mining alt coins,,,we are starving for new faster GPU's or (asic) "scrypt boards" per se" ......can it be done???

[hchc]

Anybody knows the dimension of the fan needed for K16? and is it 3 pin fan header? Thanks

[eve]

maybe zefir pulling a Yifu and selling peoples orders to highest bidder 

Most Likely !

[Micky25]

maybe zefir pulling a Yifu and selling peoples orders to highest bidder 

Or zefir sold the chips so he can refund peoples money. I'm sure a lot of folks want out of his group buys due to the delays.

No.

So what is this all about? Publishing date of the article is August 27th, so 4 batches are said to have arrived at Zefir's this last weekend?

BitSynCom, the company behind the 110nm chip, has been promising supplies for months, with significant delays. However, last week, it said it is now shipping 40,000 each day. Tens of thousands went to Zefir, a Swiss party who organized a group purchase. Bitmine CEO Giorgio Massarotto drove to Zefir to pick up between 37,500 and 40,000 chips over the weekend

from:
http://www.coindesk.com/bitmine-to-drop-4phs-of-asic-power-onto-bitcoin-network-before-april/

hmmm ?? where did 40k chips come from 

They obviously got one digit messed up, but besides that, the report seems accurate. Even BitSynCom was cited correctly, since 2 batches, while the least possible number, can be described as 'tens of thousands' chips.

[Flying Hellfish]

 Personally I like mining alt coins,,,we are starving for new faster GPU's or (asic) "scrypt boards" per se" ......can it be done???

It can be done, but there appear to be two problems with an FPGA for scrypt.  Current estimated $/kh/s is higher than 79xx GPU's, they are obviously more energy efficient than GPU's but with the higher cost/khs it would take a high electrical rate or a very long time to overcome the difference.  LTC FPGA's estimates are not showing the same jump in "efficiencies" we saw with BTC GPU to FPGA.  I think GPU's are going to be around quite a while the high NRE of FPGA's and ASIC's are a pretty large barrier to entry right now all things considered.  Although you may be able to get into an IPO or buy some LTC FPGA's in the coming months I still don't see them pushing GPU's out any time soon.

https://forum.litecoin.net/index.php?topic=2702.0

[Humax]

Terrahash is not responding to tickets.

Anybody else having the same problem?
BitSyncom is creating another BFL company.......

[MinermanNC]

 Personally I like mining alt coins,,,we are starving for new faster GPU's or (asic) "scrypt boards" per se" ......can it be done???

It can be done, but there appear to be two problems with an FPGA for scrypt.  Current estimated $/kh/s is higher than 79xx GPU's, they are obviously more energy efficient than GPU's but with the higher cost/khs it would take a high electrical rate or a very long time to overcome the difference.  LTC FPGA's estimates are not showing the same jump in "efficiencies" we saw with BTC GPU to FPGA.  I think GPU's are going to be around quite a while the high NRE of FPGA's and ASIC's are a pretty large barrier to entry right now all things considered.  Although you may be able to get into an IPO or buy some LTC FPGA's in the coming months I still don't see them pushing GPU's out any time soon.

https://forum.litecoin.net/index.php?topic=2702.0

Hey thanks for that Tidbit, I just looked at the link,,,so someone is on it! Probably slow in development, but i feel its an opportunity for the right developers and would have a decent market. I will keep up with that link! thx

[chanberg]

Sigh, looking at FriedCats new blade prices makes these preorders so worthless!~

[MinermanNC]

Sigh, looking at FriedCats new blade prices makes these preorders so worthless!~

Yes indeed they do...TH would be better off to mass order blades directly, and resell them on their site,,,,with NON-EBAY pricing,,,like 799.00 each or even lower or something... they would fly of the shelves and TH could still see almost double their money per sale,,,,,would be a good avenue to pull out of the hole for them! and create some cash flow,,,, short term anyways....

[newguy05]

Good point, but you really think we could see 70.00 BTC again?...only thing is what the regulators may bring on us,,,outside of that i see it growing still...maybe best to wait tho  

why not? the demand fundamentals have not changed - asic hardware purchase + speculation are still the only 2 sole source of demand for bitcoin.  Hardware purchase will die off as it's self defeating and speculation creates volatility + up/down cycles.

You will also have selling pressure from those large asic farms trying to recoup initial investment as mentioned. People need to understand right now majority of the bitcoin generations are still fractured and divided among retail miners (this is good) but going forward larger and larger pieces of the 2016 pie will be going to a handful of commercial asic farms and large retail miners, which means they will drive prices absent of any other catalyst.

The Cyprus banking crisis was probably the only time in bitcoin history i am aware of that created REAL demand for bitcoin driven by fear as people cant get their money out and bitcoin was an alternative. We all know what happened to the prices, it be nice if those events can happen again (speaking purely from bitcoin price viewpoint), but they are blackswans, you might as well get a lottery ticket if hoping for that.

In term of regulation, I welcome it, more regulation = more legitimacy = more chance of bitcoin being used as alternative currency = more real demand.  As long as they dont ban it outright...

[kendog77]

Good point, but you really think we could see 70.00 BTC again?...only thing is what the regulators may bring on us,,,outside of that i see it growing still...maybe best to wait tho  

why not? the demand fundamentals have not changed - asic hardware purchase + speculation are still the only 2 sole source of demand for bitcoin.  Hardware purchase will die off as it's self defeating and speculation creates volatility + up/down cycles.

You will also have selling pressure from those large asic farms trying to recoup initial investment as mentioned. People need to understand right now majority of the bitcoin generations are still fractured and divided among retail miners (this is good) but going forward larger and larger pieces of the 2016 pie will be going to a handful of commercial asic farms and large retail miners, which means they will drive prices absent of any other catalyst.

The Cyprus banking crisis was probably the only time in bitcoin history i am aware of that created REAL demand for bitcoin driven by fear as people cant get their money out and bitcoin was an alternative. We all know what happened to the prices, it be nice if those events can happen again (speaking purely from bitcoin price viewpoint), but they are blackswans, you might as well get a lottery ticket if hoping for that.

In term of regulation, I welcome it, more regulation = more legitimacy = more chance of bitcoin being used as alternative currency = more real demand.  As long as they dont ban it outright...

If the Winklevoss twins get approval for their bitcoin investment fund, I believe prices will also rise. Right now, it's too difficult for the average investor to put money into bitcoin, so a legitimate investment fund will make it much easier for the average person to invest in bitcoin and provide a good catalyst for higher bitcoin prices.

The current 1 billion dollar bitcoin market cap is a drop in the bucket compared to all the money sloshing around the world seeking a decent return.

[atomicchaos]

In term of regulation, I welcome it, more regulation = more legitimacy = more chance of bitcoin being used as alternative currency = more real demand.  As long as they dont ban it outright...

I'm in full agreement, businesses want a bit more legitimacy in order to adopt Bitcoin, and this would help. ASICs will somewhat centralize the network to a certain degree in the near future anyways.

I do think we'll see a much higher BTC price in the near future with all of the world events occurring, plus everything happening with the US reviewing it, and Germany accepting it. But like the last flash crash, I expect it to come back down, but maybe to the 100 range now.

[hchc]

Where is Terrahash? They are not responding to emails, tickets, voice call (mail box still not setup).
They are obviously monitoring the forum though.

Let it be known that Terrahash has my chips today. So the two weeks clock starts now.
I need to know what size and spec of fan to buy but I can't find the info as terrahash is not responding to anything.

[atomicchaos]

Where is Terrahash? They are not responding to emails, tickets, voice call (mail box still not setup).
They are obviously monitoring the forum though.

Let it be known that Terrahash will receive my chips today. So the two weeks clock starts now.
I need to know what size and spec of fan to buy but I can't find the info as terrahash is not responding to anything.

Ah very good, they will now be able to prove their 2 week promise, and of course dispel all of the naysayers. Looking forward to it.

[btceic]

Where is Terrahash? They are not responding to emails, tickets, voice call (mail box still not setup).
They are obviously monitoring the forum though.

Let it be known that Terrahash will receive my chips today. So the two weeks clock starts now.
I need to know what size and spec of fan to buy but I can't find the info as terrahash is not responding to anything.

We are all watching

edit: can you reply when you see that they have signed for the package?

[notlist3d]

Where is Terrahash? They are not responding to emails, tickets, voice call (mail box still not setup).
They are obviously monitoring the forum though.

Let it be known that Terrahash will receive my chips today. So the two weeks clock starts now.
I need to know what size and spec of fan to buy but I can't find the info as terrahash is not responding to anything.

I would not buy any size fan at the moment.  Unless I'm wrong they showed one board hashing with hw errors and lower hash rate.  They received more sample chips, but i don't they have ever showed if they even used to make a newer one.  If they cant build a proper one to show off, what do you think chances are they can do yours?

Even if they get the chips I honestly will be shocked if they are able to get you a board anytime soon.

I will get flak for hatting TH (yes i did get paypal refund long ago when they already missed deadlines).  But honestly i would try to get money back, or just count it as a loss and be surprised if you get anything.