KnCMiner Openday Wednesday 5th & Monday 10th June

[nosurrender]

Hosting with some quick and dirty math is 300-400Euro per unit, per month.

What did you base this assumption on. Just asking, because colocation of a "normal" server at e.g. Pionen datacenter in Sweden is priced about 70+ Euro a month.

If the difficulty continue to rise - and that's the main goal of KNCMiner - there won't be any spare 50$ to shed on hosting

Don´t know if its the "main goal" of KNCMiner having difficulty risen, though for sure that´s inevitable with the increase of hashing power due to ASICs from all manufacturers.

Of course all cost of mining - power cost, maintenance, hosting or what else - will influence the profitability of the whole thing. In Germany for example, the power consumption of a 500 W device will cost about 50 Euro a month when home mining 24/7. That´s without considering additional cooling like air conditioned housing. Hosting could or could not be efficient, depending on hosting fee.

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[Xialla]

Power is the cost factor here..

yes ofc. power, connectivity and amount of U in rack. I guess that host one machine with 1000W power consumption and size about 4U should cost ~300$

[johnyj]

Actually this showed how hard competition is now

I remember in 2011 and 2012, if you invest $1000 for a mining rig, you could easily mine about 1 coin per day almost constantly, but now if you invest $1000 in a 25GH ASIC miner, you will mine only 1 coin per day for two weeks, and then the return will continuously shrink, after 3-4 months, you might get only 0.1 coin per day

Given bitcoin's price has rised one magnitude, this is still reasonable from a USD cost point of view, but if the exchange price drops, the loss will be huge for ASIC investors, since their investment are also magnitudes higher than GPU miners

[Vega]

I'm interested about their hosting services. It'll depend on their price.

If the hosting price is better than paying for shipping, a PSU, and monthly electric cost, then I'll probably go for it. The deciding factor will be electricity. Swedish prices are higher, but maybe wholesale prices are available, I don't know.

So for now I picked Stockholm pickup, and pay for shipping later if I don't like the hosting offer. (And in the meanwhile really hope that this will be my biggest worry about this investment.)

[mxmz.in]

I'm interested about their hosting services. It'll depend on their price.

If the hosting price is better than paying for shipping, a PSU, and monthly electric cost, then I'll probably go for it. The deciding factor will be electricity. Swedish prices are higher, but maybe wholesale prices are available, I don't know.

So for now I picked Stockholm pickup, and pay for shipping later if I don't like the hosting offer. (And in the meanwhile really hope that this will be my biggest worry about this investment.)

Just after a very short time running a ASIC will be profitable with free electricity only.
Team up with a student in a dorm room or a single mom in a state-sponsored house LOL

[Vega]

Just after a very short time running a ASIC will be profitable with free electricity only.
Team up with a student in a dorm room or a single mom in a state-sponsored house LOL

Unless I messed up the numbers a Jupiter with 350 GH/s and 1000 W power consumption, should turn a profit until difficulty is over 4 Billion. While the extra profit of no electricity cost would be nice, I think I'm good for a while.

[bitpop]

What's you kwh?

[Vega]

What's you kwh?

In USD around 0.20.
Of course profit is minimal (cents) at 4 billion difficulty but still over the line.

[Rampion]

What's you kwh?

In USD around 0.20.
Of course profit is minimal (cents) at 4 billion difficulty but still over the line.

profit? At what BTC/USD exchange rate? $1? $20? $50? $100?

You can get satoshis with almost any hashrate. If you cover your electricity costs depends on the exchange rate.

[Vega]

What's you kwh?

In USD around 0.20.
Of course profit is minimal (cents) at 4 billion difficulty but still over the line.

profit? At what BTC/USD exchange rate? $1? $20? $50? $100?

You can get satoshis with almost any hashrate. If you cover your electricity costs depends on the exchange rate.

We got here from talking about hosting fees vs. self-hosting costs. For that I have to consider current exchange rates, (or rates at the time of hosting) and recalculate if that changes.
That is the reason I didn't include exchange rates in my calculations, when we started talking about difficulty level and profitability. In a real scenario of course that exchange rate is a factor as well.

[glowkeeper]

I don't mean to undermine KnC (especially with you lot having parted with all your hard won BTC/cash/life savings), but these guys are taking payment via escrow:

https://bitcointalk.org/index.php?topic=227366.0

[RoadStress]

I don't mean to undermine KnC (especially with you lot having parted with all your hard won BTC/cash/life savings), but these guys are taking payment via escrow:

https://bitcointalk.org/index.php?topic=227366.0

Like almost every Avalon chip order...please keep this on topic!

[glowkeeper]

I don't mean to undermine KnC (especially with you lot having parted with all your hard won BTC/cash/life savings), but these guys are taking payment via escrow:

https://bitcointalk.org/index.php?topic=227366.0

Like almost every Avalon chip order...please keep this on topic!

Nope. They're promising miners too.

[DPoS]

I don't mean to undermine KnC (especially with you lot having parted with all your hard won BTC/cash/life savings), but these guys are taking payment via escrow:

https://bitcointalk.org/index.php?topic=227366.0

Like almost every Avalon chip order...please keep this on topic!

Nope. They're promising miners too.

I'm rooting for Bkk & his Klondike but it has gone to the point of betting on the second coming of christ for all we know and how widespread it has grown.   100 pages of doubt to people who are in the industry on making a miner but no worries on DIY projects?

wtf??

[RoadStress]

I don't mean to undermine KnC (especially with you lot having parted with all your hard won BTC/cash/life savings), but these guys are taking payment via escrow:

https://bitcointalk.org/index.php?topic=227366.0

Like almost every Avalon chip order...please keep this on topic!

Nope. They're promising miners too.

I'm using John K.'s escrow service to hold the funds for the Avalon chips.

Please read the whole post again to understand it better. Again this is pointless for this thread, but he isn't keeping escrow for miners.

[klintay]

Just after a very short time running a ASIC will be profitable with free electricity only.
Team up with a student in a dorm room or a single mom in a state-sponsored house LOL

Unless I messed up the numbers a Jupiter with 350 GH/s and 1000 W power consumption, should turn a profit until difficulty is over 4 Billion. While the extra profit of no electricity cost would be nice, I think I'm good for a while.

I think you fucked up. My calculations say that at 1.5 billion difficulty the Jupiter would not turn a profit even if the price was 350 USD/btc

[Rampion]

Just after a very short time running a ASIC will be profitable with free electricity only.
Team up with a student in a dorm room or a single mom in a state-sponsored house LOL

Unless I messed up the numbers a Jupiter with 350 GH/s and 1000 W power consumption, should turn a profit until difficulty is over 4 Billion. While the extra profit of no electricity cost would be nice, I think I'm good for a while.

I think you fucked up. My calculations say that at 1.5 billion difficulty the Jupiter would not turn a profit even if the price was 350 USD/btc

It's really simple math:

1000w at 0.2kw/h are 4.80USD per 24hour
At 4 billion difficult his 350GH/s would be producing 0.044BTC per day.
To b/e on the electricity costs the price per BTC should be $109ish

So, theoretically he may be right saying that Jupiter "should turn a profit" at 4 Billion diff... But practically speaking it's nonsense IMO.

[TheSwede75]

Just after a very short time running a ASIC will be profitable with free electricity only.
Team up with a student in a dorm room or a single mom in a state-sponsored house LOL

Unless I messed up the numbers a Jupiter with 350 GH/s and 1000 W power consumption, should turn a profit until difficulty is over 4 Billion. While the extra profit of no electricity cost would be nice, I think I'm good for a while.

I think you fucked up. My calculations say that at 1.5 billion difficulty the Jupiter would not turn a profit even if the price was 350 USD/btc

It's really simple math:

1000w at 0.2kw/h are 4.80USD per 24hour
At 4 billion difficult his 350GH/s would be producing 0.044BTC per day.
To b/e on the electricity costs the price per BTC should be $109ish

So, theoretically he may be right saying that Jupiter "should turn a profit" at 4 Billion diff... But practically speaking it's nonsense IMO.

What is the point/premise of this discussion? 4 BILLION diff isn't exactly 'around the corner'..

[RoadStress]

Some people have too much spare time!

[KS]

But they talk about Tier 3 datacenters and such.

Not only that, but they talk about Tier 3, 4 AND 5. Only they offer a ridiculously low 95% uptime. (Already you know it's BS when they mention Tier 5).

I hope it was the openday booze talking...