Getting some serious harware

[papajo]

Hello I am interested in investing 4 sto 6k usd for a machine capable of doing 1,2 TH/s of more I found some solutions but many of them were from china an all didnt have any creditcard or paypal as a payment method..


So I am afraid to purchase them


Do you know any trustworthy company that you have been also a client or a friend of yours?


Also do you consider it a good idea to purchase just one of this machines? (I dont have more budget) since they will be shipped in a few months by know and the difficulty is already doubled in self the past few months...


Thnx a lot for your help

[600watt]

knc miner.

[papajo]

I am interested to a machine of that caliber http://www.blackarrowsoftware.com/store/prospero-x-3.html  its just that I dont know if I can trust the site... I found a few more that do TH/s at the same price more or less but again they are all using bank transfers only or wu... which would be ok by me if I only knew they are the real deal and trustworthy and wont run with my money away

[desired_username]

I am interested to a machine of that caliber http://www.blackarrowsoftware.com/store/prospero-x-3.html  its just that I dont know if I can trust the site... I found a few more that do TH/s at the same price more or less but again they are all using bank transfers only or wu... which would be ok by me if I only knew they are the real deal and trustworthy and wont run with my money away

I think this is a scam. beware.

[600watt]

yep, it´s not discussed in the forums which is a bad sign for itself.

watch out.

[papajo]

yea but are they ALL scams I mean I dont want to advertise but there are many websites these ones claim to have worked for nvidia intel samsung etc (on their home page video) http://cointerra.com/product/terraminer-iv-2ths-networked-miner-january-batch/


isnt there any machine that can do 1th/s 2th/s etc?

[r3animation]

yep, it´s not discussed in the forums which is a bad sign for itself.

watch out.

Erm not sure if being sarcastic. It's being discussed on the forum and blackarrow was one of the few reputable fpga dealers in this forum.

[redtwitz]

Whether this is a scam or not, I wouldn't buy any mining device that won't be available for four and a half months. There's no way of telling how high the difficulty will climb by then.

At the current rate, it's raising 30% every 11 days. That's 12 difficulty adjustments until February 24 (if they deliver on time), giving a difficulty of 4.4 billions.

[papajo]

:/ now I am confused... I just want to make an investmend but dont know whom to trust... I would appreciate greatly if a member of great reputation in this forum could give me some advice about this...

[macsga]

If I were you; I'd buy directly Bitcoins off an exchange of your choice with my money. It's more than certain that WHATEVER you're willing to buy will definitely won't be having ROI out of it, since in less than 6-8 months will be obsolete for mining. Speaking of, I really wonder who will be mining by then and at what hashspeeds. :S

[papajo]

Whether this is a scam or not, I wouldn't buy any mining device that won't be available for four and a half months. There's no way of telling how high the difficulty will climb by then.

At the current rate, it's raising 30% every 11 days. That's 12 difficulty adjustments until February 24 (if they deliver on time), giving a difficulty of 4.4 billions.

yes but 2 TH/s is 2 TH/s it would manage those changes until february or you think it couldnt?

also could anybody give me a link or tell me how difficulty is determined?

[redtwitz]

also could anybody give me a link or tell me how difficulty is determined?

Difficulty is adjusted every 2016 blocks. The intention is that it will take the entire network 10 minutes (on average) to find a block, so finding 2016 should take 14 days. If solving the next 2016 blocks takes only 7 days, difficulty will (roughly) double.

Whether this is a scam or not, I wouldn't buy any mining device that won't be available for four and a half months. There's no way of telling how high the difficulty will climb by then.

At the current rate, it's raising 30% every 11 days. That's 12 difficulty adjustments until February 24 (if they deliver on time), giving a difficulty of 4.4 billions.

yes but 2 TH/s is 2 TH/s it would manage those changes until february or you think it couldnt?

The earnings per GH/s are inversely proportional to the difficulty. Right now, it's at 189 millions. A 2 TH/s miner at a difficulty of 4.4 billions should generate the same income as a 86 GH/s miner at the current difficulty.

[cowandtea]

KnCMiner and Cointerra is good company which have already shipped many products, just avoid BFL at all cost.

[j68r]

Also do you consider it a good idea to purchase just one of this machines?
Thnx a lot for your help

If you're looking for "profit" it's a very bad idea. The only people profiting are those selling the hardware. If you just want a new expensive hobby that gets you some tiny fractions of a btc along the way then go for it.

[SPC_Bitcoin]

this here is handy....

https://blockchain.info/stats

[papajo]

also could anybody give me a link or tell me how difficulty is determined?

Difficulty is adjusted every 2016 blocks. The intention is that it will take the entire network 10 minutes (on average) to find a block, so finding 2016 should take 14 days. If solving the next 2016 blocks takes only 7 days, difficulty will (roughly) double.

Whether this is a scam or not, I wouldn't buy any mining device that won't be available for four and a half months. There's no way of telling how high the difficulty will climb by then.

At the current rate, it's raising 30% every 11 days. That's 12 difficulty adjustments until February 24 (if they deliver on time), giving a difficulty of 4.4 billions.

yes but 2 TH/s is 2 TH/s it would manage those changes until february or you think it couldnt?

The earnings per GH/s are inversely proportional to the difficulty. Right now, it's at 189 millions. A 2 TH/s miner at a difficulty of 4.4 billions should generate the same income as a 86 GH/s miner at the current difficulty.

Yes but does diffulty also lower down if noone mines or if it takes more than 10 minutes for a block to be found?


if so then when difficulty reaches such extreme numbers I suppose that most of the community will drop out from mining... thus forcing difficulty to low down again then attracting old miners to return difficulty raises again eventually people will drop out.. etc etc wouldnt it be a good idea to have a 2TH/s machine and "come in game" when difficulty raises so high making people to quit and gaining profit by mining while the difficulty level drops (because of less miners in the game) ?? and then take a brake again when people come back and raise the difficulty level?

[papajo]

Also what about this site here anyone heared of them?  https://cloudhashing.com/

[j68r]

also could anybody give me a link or tell me how difficulty is determined?

Difficulty is adjusted every 2016 blocks. The intention is that it will take the entire network 10 minutes (on average) to find a block, so finding 2016 should take 14 days. If solving the next 2016 blocks takes only 7 days, difficulty will (roughly) double.

Whether this is a scam or not, I wouldn't buy any mining device that won't be available for four and a half months. There's no way of telling how high the difficulty will climb by then.

At the current rate, it's raising 30% every 11 days. That's 12 difficulty adjustments until February 24 (if they deliver on time), giving a difficulty of 4.4 billions.

yes but 2 TH/s is 2 TH/s it would manage those changes until february or you think it couldnt?

The earnings per GH/s are inversely proportional to the difficulty. Right now, it's at 189 millions. A 2 TH/s miner at a difficulty of 4.4 billions should generate the same income as a 86 GH/s miner at the current difficulty.

Yes but does diffulty also lower down if noone mines or if it takes more than 10 minutes for a block to be found?


if so then when difficulty reaches such extreme numbers I suppose that most of the community will drop out from mining... thus forcing difficulty to low down again then attracting old miners to return difficulty raises again eventually people will drop out.. etc etc wouldnt it be a good idea to have a 2TH/s machine and "come in game" when difficulty raises so high making people to quit and gaining profit by mining while the difficulty level drops (because of less miners in the game) ?? and then take a brake again when people come back and raise the difficulty level?

The numbers aren't extreme, they are quite simply what they are.

You seem to be labouring under a few misapprehensions here, the only time anyone is going to stop mining is when it starts to cost more to run the mining equipment than it ever has a chance to recover, in other words when the rate of difficulty increase exceeds the ability to generate a btc payout and that point is still some considerable way off. Even at that point some will still continue to mine as there is a somewhat pervasive, almost religious belief that btc is somehow going to be worth thousands or even millions of fiat one day, and it seems to be rife. And as you alluded to, people think if they just keep going everyone else will stop which is just madness.

The difficulty won't reduce in any meaningful way at this stage, it is only the rate of difficulty increase that will fluctuate.

[papajo]

I am not a native english speaker so maybe I didnt express myself well


I believe that most of the people that are mining (like 70 to 90% of them) are people with average or mid grade salary (in real life jobs) and they have average to low grade hardware (most of them usb sticks,5 GH/s machines and some of them 500GH/s machines tops...)


So for those people if the difficulty exceeds lets say 6 or 8 billion they sure will quit since their hardware wouldnt even get them a thusandth fraction of a bitcoin per day in that difficulty so if and when they quit the difficulty should drop down (since 70% or 90% of the miners dont mine anymore having as a result the average time for a block to be found to increase noticably)


So at that time it should be a good idea do get into mining with a strong piece of hardware thats what I was talking about mine for a few weeks and then when people keep on coming back you just wait for the difficulty to raise up again.

[norulezapply]

I am interested to a machine of that caliber  its just that I dont know if I can trust the site... I found a few more that do TH/s at the same price more or less but again they are all using bank transfers only or wu... which would be ok by me if I only knew they are the real deal and trustworthy and wont run with my money away

Wow, I mean, come on...

There's a reason they only accept bank transfers or WU.
Why do you think that is?

Also note that this price/performance ratio is not currently achieveable