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Author Topic: [1050 TH] BitMinter.com [1% PPLNS,Pays TxFees +MergedMining,Stratum,GBT,vardiff]  (Read 833213 times)
philipma1957
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September 19, 2013, 08:58:50 PM
 #4521

I just purchased 5 btc   from coinbase.  I will get more coins on Thur. I am inclined to get 20 sticks from this seller

 https://bitcointalk.org/index.php?topic=296301.0 


 my cost would be  17 btc with free shipping.  I would get them about OCT 1-7. 


 If I pay .85 btc a coin and sell sets of 2 at  1.78 btc.

  I make .08 btc I can ship to the usa for .05 btc so my profit on a pair would be .03btc   

 for the buyer he gets a pair of in hand sticks that ran a day before I ship them.  it is a little better then buying directly from the link above. 


All this is very tentative, but in the ball park.  it is geared for the little guy. 

will you make money with 4.4gh at 1.78btc maybe maybe not..  of course if you are buying a lot of sticks buying direct from ssinc is better then buying from me.

I really believe that preorders should not be suffered on the btc community.  So if i do this they will be in hand and work on bitminter

If you are selling it to members in the bitminter pool, are you gonna ship it to Singapore or New Zealand if I do order a few of those 2Gh sticks from you?

Still in the planning stage.  I am getting  the coins together. I should have 17 coins by monday allowing me to buy 20 at .85 btc each.  If I buy the more expensive ones I should have them in hand faster.  Shipping to Singapore or New Zealand would be possible  But I need to see fees from us post office. I will post more info in a few days. As of today I have about 7 coins on hand.

I mine alt coins with https://simplemining.net...
I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
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September 20, 2013, 12:17:33 AM
 #4522

To the guys worried about ROI on their hardware:
Alot of the doom and gloom is strictly predicated on the current BTC/USD exchange rate.
Bitcoin has come a looong way from $0.05 usd / btc to ~$125 usd / btc, so hang on to those bitcoins, an re-examine your mining investment in a year or too. I believe you will be satisfied !
That said, it is probably true that it is more lucrative just now to buy btc and hold than to mine.
I'm mining because I wanted to learn about BTC from "the trenches" so to speak, and don't regret it one bit.
Love the BitMinter !
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September 20, 2013, 12:27:32 AM
 #4523

To the guys worried about ROI on their hardware:
Alot of the doom and gloom is strictly predicated on the current BTC/USD exchange rate.
Bitcoin has come a looong way from $0.05 usd / btc to ~$125 usd / btc, so hang on to those bitcoins, an re-examine your mining investment in a year or too. I believe you will be satisfied !
That said, it is probably true that it is more lucrative just now to buy btc and hold than to mine.
I'm mining because I wanted to learn about BTC from "the trenches" so to speak, and don't regret it one bit.
Love the BitMinter !


Im with you on the "trenches" And the future.
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September 20, 2013, 12:39:28 AM
 #4524

To the guys worried about ROI on their hardware:
Alot of the doom and gloom is strictly predicated on the current BTC/USD exchange rate.
Bitcoin has come a looong way from $0.05 usd / btc to ~$125 usd / btc, so hang on to those bitcoins, an re-examine your mining investment in a year or too. I believe you will be satisfied !
That said, it is probably true that it is more lucrative just now to buy btc and hold than to mine.
I'm mining because I wanted to learn about BTC from "the trenches" so to speak, and don't regret it one bit.
Love the BitMinter !


Im with you on the "trenches" And the future.

Cant agree more!
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September 20, 2013, 01:59:30 AM
 #4525

So today something a little odd happened. I tried to go to bitminter.com in my browser (firefox) as usual and it wouldn't load at all. No server timeout errors or anything; just nothing like the site vanished. So I did a little DNS investigation and:

Quote
C:\>nslookup bitminter.com
Server:  *****************
Address:  *****************

Non-authoritative answer:
Name:    bitminter.com
Addresses:  2400:cb00:2048:1::6ca2:ca7b
          2400:cb00:2048:1::6ca2:c97b
          108.162.201.123
          108.162.202.123

Seems like it resolves to IPv6 addresses prioritized before IPv4 addresses but I know my router doesn't handle IPv6. So I thought this might be why I can't get to the site. The next thing I tried was to add the following entry to my hosts file ( C:\Windows\System32\drivers\etc\hosts ) to force it back to using the IPv4 address (since hosts file takes priority over DNS):

108.162.201.123  bitminter.com

... and after that the site worked fine again! Strange though.

philipma1957
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September 20, 2013, 04:03:12 AM
 #4526

To the guys worried about ROI on their hardware:
Alot of the doom and gloom is strictly predicated on the current BTC/USD exchange rate.
Bitcoin has come a looong way from $0.05 usd / btc to ~$125 usd / btc, so hang on to those bitcoins, an re-examine your mining investment in a year or too. I believe you will be satisfied !
That said, it is probably true that it is more lucrative just now to buy btc and hold than to mine.
I'm mining because I wanted to learn about BTC from "the trenches" so to speak, and don't regret it one bit.
Love the BitMinter !


we need guys like you.  this is why i try to sell the am sticks at a low markup on ebay with no preorders and now hopefully the newer 2.4gh sticks next month.  The only way btc will make out in the longer run is to have many small miners. yeah every talks about big investors and they have lots of power in anything they toss money at.  But if you have 5 million to invest in BTC maybe hoping to hold it a year and sell it for 6/7 million does it look like a better "stock" if it has lots of customers and room to grow.      
 Think McDonalds in 1970  a big investor sees room for growth and a large customer base.  Plus a new customer can start on the cheap (ie  a burger and fries).


  same concept  a new miner can get started with a few sticks.  
so
A) a no preorder stick is important
B) play n play is important
C) pretty low cost for a stick

McDonalds in 1970
A) fast food  a drive up window
B) you can start to eat it quickly
C) low price
 

Just 1 analogy   as to why a big investor may see putting money into btc  as a good move.

I mine alt coins with https://simplemining.net...
I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
philipma1957
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September 20, 2013, 04:20:47 AM
 #4527

  not going to do any group buys  ... but this reseller has a better deal then I can do.


https://bitcointalk.org/index.php?topic=297304.new#new   



I will just buy a few sticks for myself  as the deal above is better then I can do.

I mine alt coins with https://simplemining.net...
I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
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September 20, 2013, 04:37:40 AM
 #4528

  not going to do any group buys  ... but this reseller has a better deal then I can do.


https://bitcointalk.org/index.php?topic=297304.new#new   



I will just buy a few sticks for myself  as the deal above is better then I can do.

Actually calculating the cost to get 10 sticks, it would almost be similar to getting Butterfly Labs 25Gh.

Now this becomes a problem. A point to ponder to see which is more worth.

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September 20, 2013, 05:05:25 AM
 #4529

...

C) pretty low cost for a stick

...
No - that's the flaw in your argument.
They are not low cost. They are high cost.

The cost in BTC is above the BTC it will ever return.

Not only that, but originally when the AsicMiner USBs came out the mark up on them was at least 2000% - probably more - up to as much as 5000%

They are still priced with 1 requirement:
1) That AsicMiner will receive up front more BTC than they could get mining with them
i.e. you will lose BTC buying and mining with them

I still do not understand why so many people don't see the obvious.

More so, I do not understand why so many other people say
"It's OK to lose BTC - doing something that makes BTC"

No one who has bought an AsicMiner USB from AsicMiner or it's distributors, and mined PPS or equivalent, has got back the amount of BTC they paid for it.

Pool: https://kano.is Here on Bitcointalk: Forum BTC: 1KanoPb8cKYqNrswjaA8cRDk4FAS9eDMLU
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September 20, 2013, 06:09:00 AM
 #4530

...

C) pretty low cost for a stick

...
No - that's the flaw in your argument.
They are not low cost. They are high cost.

The cost in BTC is above the BTC it will ever return.

Not only that, but originally when the AsicMiner USBs came out the mark up on them was at least 2000% - probably more - up to as much as 5000%

They are still priced with 1 requirement:
1) That AsicMiner will receive up front more BTC than they could get mining with them
i.e. you will lose BTC buying and mining with them

I still do not understand why so many people don't see the obvious.

More so, I do not understand why so many other people say
"It's OK to lose BTC - doing something that makes BTC"

No one who has bought an AsicMiner USB from AsicMiner or it's distributors, and mined PPS or equivalent, has got back the amount of BTC they paid for it.

Low cost, meaning fiat price.. Anyone can buy one and start mining.
This is something no other product/company has achieved.
Until at least one asic manufacturer steps up and acts responsibly - this mining roi issue is not going away anytime soon.

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September 20, 2013, 06:51:44 AM
 #4531

Until at least one asic manufacturer steps up and acts responsibly - this mining roi issue is not going away anytime soon.

Dont blame the asic manufacturers. Its the miners demand that creates these prices.
But this situation was entirely predictable and predicted. Even if an asic manufacturer tomorrow starts selling asics at $1/GH, its very unlikely miners will make a profit. THe lower price will just result in higher volume, and thus higher difficulty and all those miners will be equally screwed once the asic price drops further, which it will once demand slow down. This is a race to the bottom, and for 28nm that bottom lays somewhere close to $0.1/GH and depending on electricity cost and efficiency,  a resulting network hashrate >100PH. Overall miners will lose every step of the way down there.
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September 20, 2013, 07:47:03 AM
 #4532


I still do not understand why so many people don't see the obvious.


Many people don't care, they're cheap enough that they're fun.  To me, and a lot of other folks it's just a pure giggle to run these things.

I used to spend money upgrading PCs and wasting electricity on the old distributed computing projects like RC5, OGR and SETI@Home.  Those made nothing back, it was just a race on a web page.

Now I spend money of mining widgets, but at least they make a bit of money back so I can buy more mining widgets.


            ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
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SKYFchain
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September 20, 2013, 07:54:39 AM
 #4533


I still do not understand why so many people don't see the obvious.


Many people don't care, they're cheap enough that they're fun.  To me, and a lot of other folks it's just a pure giggle to run these things.

I used to spend money upgrading PCs and wasting electricity on the old distributed computing projects like RC5, OGR and SETI@Home.  Those made nothing back, it was just a race on a web page.

Now I spend money of mining widgets, but at least they make a bit of money back so I can buy more mining widgets.

Its not surprising there are people like you (mining for fun, not profit), especially with these USB devices. What is surprising is that are so many that they are driving the price, even from machines that are way beyond funny prices. You'd expect for profit miners not to buy when its not profitable and hence, despite some "for fun miners", you'd expect the price to drop to somewhere around marginal profitability but thats not happening.
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September 20, 2013, 10:16:10 AM
 #4534

Curious about the CDF rate.

Would increasing the hashing rate of the pool reduce the CDF?

<a href="https://cex.io/r/0/casilan/0/" title="CEX.io - Bitcoin Commodity Exchange" target="_blank">Cex.io - Revolutionary MoneyMaking! Build your own Cloud Miner!</a>
philipma1957
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September 20, 2013, 10:31:49 AM
 #4535

Curious about the CDF rate.

Would increasing the hashing rate of the pool reduce the CDF?


 no but the variance would lesson.  that rate includes what you are hashing as part of the calculation of it.

I mine alt coins with https://simplemining.net...
I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
philipma1957
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September 20, 2013, 10:59:30 AM
 #4536

...

C) pretty low cost for a stick

...
No - that's the flaw in your argument.
They are not low cost. They are high cost.

The cost in BTC is above the BTC it will ever return.

Not only that, but originally when the AsicMiner USBs came out the mark up on them was at least 2000% - probably more - up to as much as 5000%

They are still priced with 1 requirement:
1) That AsicMiner will receive up front more BTC than they could get mining with them
i.e. you will lose BTC buying and mining with them

I still do not understand why so many people don't see the obvious.

More so, I do not understand why so many other people say
"It's OK to lose BTC - doing something that makes BTC"

No one who has bought an AsicMiner USB from AsicMiner or it's distributors, and mined PPS or equivalent, has got back the amount of BTC they paid for it.

Low cost, meaning fiat price.. Anyone can buy one and start mining.
This is something no other product/company has achieved.
Until at least one asic manufacturer steps up and acts responsibly - this mining roi issue is not going away anytime soon.


 yep out of pocket anyone with 20-25 usd can buy an am stick on ebay plug it into the pc and hash.  put the coins earn in an account and hold them for the 'future".  All naysayers to this idea simply are ignoring the ease of doing this.   Lets say I do not want to buy btc.  Why because buying btc is not that easy.  many people do not want to give a site like coinbase all the info needed to buy btc.   But millions of people have an  ebay account.
 
Below is the best usa ebay price for 1 stick 21.37

 http://www.ebay.com/itm/NEW-Bitcoin-ASIC-Miner-USB-Block-Erupter-333MH-s-IN-HAND-Same-day-shipping-/111172616545?pt=LH_DefaultDomain_0&hash=item19e2678161


I get 2% in ebucks I get 2 % if I use my paypal ebay card  cost for this stick is .96 x 21.37 or $ 20.52    cheap easy and a 45 day safety net from ebay/paypal. 



contrast buying btc on ebay


http://www.ebay.com/itm/BITCOIN-Paper-Wallet-0-20-mailed-USPS-BTC-/151123207660?pt=US_World_Coins&hash=item232fa525ec


  .20 btc for 38 dollars       For the ebay shopper he or even she will get the stick over the paper .20 btc


Also many nay sayers don't understand ebay deals/bargains  and the ebay 'fiat'  ebucks.  you can only use your account to spend the ebuck in it and the ebuck must be spent on ebay.
  earning ebucks varies and specials of 4% or 6% vs standard 2% also occur.

 I buy US Post office Forever Stamps on ebay 2 to 3 thousand dollars a year from solid safe ebay sellers.

 I earn 2 or 4 percent and another 2 percent with the cc so 4 percent of 3 thousand is 120 ebucks.

With other purchases i would say I earn close to 200 in ebucks each year.   

Many ebayers joined ebay to late to be in the ebuck program and are not aware of it. 
 But I have had more then one buyer tell me they want to use ebucks to pay for an item can I wait until the day they get the ebucks.  The next ebuck payout day is oct 3rd.  Every 90 days for an ebuck payout.  I know my sales will pick up on the 2nd-10th of oct.
      So all the people that think an ebayer is loopy buying sticks for  a really high price  do not take this into account.  plus buying a few sticks is action. maybe the coins will go up to 1000 usd. And maybe I will get a hot streak with bitminter and mine 20% over norm for a week or 2.  Also AM sticks have resale value  guess where on ebay!

 So I don't knock Kano and what he preaches. I know he is a blind man with an elephant and the leg he touches is truly like a tree trunk. Preaching that an Elephant is like a tree trunk is a part truth.

I mine alt coins with https://simplemining.net...
I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
philipma1957
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September 20, 2013, 11:17:34 AM
 #4537

New stick updates


The sellers of the new sticks have changed pricing again. They realized that a new fourth seller was undercutting the price structure and have decided to keep the pricing more in line with each other.


https://bitcointalk.org/index.php?topic=296301.0  usa

https://bitcointalk.org/index.php?topic=297320.0  eu/ek

https://bitcointalk.org/index.php?topic=296953.0  asia



 fourth seller after exchanging pm's has altered his pricing to match the other sellers.  nice guy polite with pm's.  when I pointed out his pricing would undercut all the approved sellers he agreed.

https://bitcointalk.org/index.php?topic=297304.0  GB seller takes paypal.
_______________________________________________________________________________ _________________________________________________________________


Below is an alternate version of the new sticks

https://bitcointalk.org/index.php?topic=291456.0  

will hash at a lower rate and cost less.  no heat sink.  less developed and may not ship until late oct or early nov.


_______________________________________________________________________________ ____________________________________________________________
one of the threads says doc H is getting a stick sent to him.

https://bitcointalk.org/index.php?topic=296301.0

from thread above:

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Re: [NOW OPEN] 0.83 - 0.9 BTC ~2.5 GH/s BPMC "RED FURY" USB MINERS! GB#9!
Today at 06:10:39 AM
  #49
Quote from: philipma1957 on Today at 01:21:14 AM
Quote from: ssinc on Today at 12:38:08 AM
I will not be selling these on eBay. Only directly to customers here and through my webstore.

If you are a eBay re-seller contact me for special bulk pricing and handling options.


I am gathering coins for a 20 stick buy.

I plan to order 20 a week sell 15-17 on ebay.

 I may try to set up a small buy for bitminter.com miners

 I  would like to order 20 run them for a day and sell them knowing they work.  I run the sticks on bitminter.com java client since it is the most newbe friendly client for mining. I sold a few hundred AM sticks on ebay like this trying to make it easy and fairly low cost for a new miner to get started.  I Should have my coins in order in 2-4 days.  I want sticks in hand  and pretested by me with my mining farm  to be able to sell on ebay as I believe this is the best way for a new miner to start up.  Send in a payment and the item ships out in 1 day. I don't mind doing a preorder to get started with stock.  But I want the ebayers to know I ship it out fast.

 This really worked well for me with the AM sticks. Since you have the earliest delivery date I am gathering coins to buy from you.  Knowing these work with bitminter.com java client  is a must.  BTW dr h of bitminter thinks they will since they are serial port com type devices

Yes we will be setting up some units that DrHaribo can ssh in and work with. We expect bitminter support soon.

  ^^^
very good news...  
_______________________________________________________________________________ _______________________________________________

I am still gathering coins and have about 10 so far.  with the price structure back in synch. for these

 my goal is to order 20 sticks for 17 coins and sell 14 to 16 in sets of 2. then repeat this 2 or 3 times.


I mine alt coins with https://simplemining.net...
I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
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September 20, 2013, 11:56:11 AM
 #4538

 "DrHaribo can ssh in and work with" != "doc H is getting a stick sent to him"

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September 20, 2013, 01:08:42 PM
 #4539

"DrHaribo can ssh in and work with" != "doc H is getting a stick sent to him"

I agree, they should send him one, because he is indirectly increasing their sales.

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September 20, 2013, 01:21:00 PM
 #4540

Have we gotten any confirmation about clearance on that heatsink? Most USB hubs have the ports packed pretty tightly and I'd be interested in getting a few of these but not if I have to replace my hubs.
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