Network hashrate to triple in the next 45 days? How??

[timmmers]

I personally think Hashfast are going to make knc miner owners lifes a living hell
and jupiters will be the equivilent of what usb stick miners is now,its going to get really tough this month

Who cares now? I expected my rig to be useless in january but what happened was much better for me. Hashfast (lol at that name) are in effect delivering a Jupiter, old tech, same speed ...way too late to come close to break even, but just in time for 2400 big KNC rigs to come into the game in spring giving hashfast owners a month or so to recoup their investment.

Time is everything now, I was mad at KNC for the bullshitting over a 2 week delay on delivery which in the grand scheme is nothing compared to other companies...but that was 14 day and a diff increase of about 100% leaving me on .5 btc a day for a short while...cost me at least 7 btc that delay of 2 weeks at the prime time. Almost what it's mined since. 

As for the new rigs getting bigger...IMO 2kw per rig is already showing the way it's going. Industrial. Selling rigs won't make sense, in fact I can't see all the companies we know now existing in a year. BFL for example..why would they? I can see private investors getting into mining with deep pockets, not buying rigs, buying the people to make their own and using them. IT's possible to get tax breaks, grants, alsorts of money recouped from your running costs,..and it pays back super fast. Even the rigs are attractive to sell when no longer profitable enough.
We'll see if/when  it happens.

[U1TRA_L0RD]

I personally think Hashfast are going to make knc miner owners lifes a living hell
and jupiters will be the equivilent of what usb stick miners is now,its going to get really tough this month

Who cares now? I expected my rig to be useless in january but what happened was much better for me. Hashfast (lol at that name) are in effect delivering a Jupiter, old tech, same speed ...way too late to come close to break even, but just in time for 2400 big KNC rigs to come into the game in spring giving hashfast owners a month or so to recoup their investment.

Time is everything now, I was mad at KNC for the bullshitting over a 2 week delay on delivery which in the grand scheme is nothing compared to other companies...but that was 14 day and a diff increase of about 100% leaving me on .5 btc a day for a short while...cost me at least 7 btc that delay of 2 weeks at the prime time. Almost what it's mined since. 

As for the new rigs getting bigger...IMO 2kw per rig is already showing the way it's going. Industrial. Selling rigs won't make sense, in fact I can't see all the companies we know now existing in a year. BFL for example..why would they? I can see private investors getting into mining with deep pockets, not buying rigs, buying the people to make their own and using them. IT's possible to get tax breaks, grants, alsorts of money recouped from your running costs,..and it pays back super fast. Even the rigs are attractive to sell when no longer profitable enough.
We'll see if/when  it happens.

The next network difficulty will make you less bitcoins so those 3 th/s wont be worth shit by the time they deliver.

[timmmers]

The next network difficulty will make you less bitcoins so those 3 th/s wont be worth shit by the time they deliver.

What? The next difficulty won't be anything drastic, and we all know it's always rising..but to rise 100% as it has in the past do you realise how much hash power would need to be added?

Those 3TH or likely 4TH 20nm rigs will be the new norm, it's the stuff we all have now and that is about to roll out that won't be so sparky anymore....unless of course BTC prices rise significantly again...which will make slower rigs viable.

If a 3 or 4TH rig isn't worth shit when it's the ONLY such 20nm rig available next march or april..mining is dead , simple as that.

[Anddos]

Exactly Asics are going to wiped them selfs out
CoinTerra wont even release how many there going to ship
Which tells me its going to be alot as they know its going to be saturated to make any coins back
All Companys know this right now i am sure,bitcoin will die as no one will be able to aford to run them at such a high difficulty,its GameOver i am afraid

[nodroids]

If all the miners get wiped out, what will happen to confirmation times? I think blockchain should require a chip to invest %4 of every block crunching to confirmation times.

[cp1]

If all the miners get wiped out, what will happen to confirmation times? I think blockchain should require a chip to invest %4 of every block crunching to confirmation times.

block crunching is block confirming

[nioc]

Exactly Asics are going to wiped them selfs out
CoinTerra wont even release how many there going to ship
Which tells me its going to be alot as they know its going to be saturated to make any coins back
All Companys know this right now i am sure,bitcoin will die as no one will be able to aford to run them at such a high difficulty,its GameOver i am afraid

Can you say equilibrium? 

[timmmers]

Exactly Asics are going to wiped them selfs out
CoinTerra wont even release how many there going to ship
Which tells me its going to be alot as they know its going to be saturated to make any coins back
All Companys know this right now i am sure,bitcoin will die as no one will be able to aford to run them at such a high difficulty,its GameOver i am afraid

Not likely at all.

Scenario 1. ASICs carry on as they are increasing in power. Companies who sell them NOW make money because they have large profit margins...and we fund the upfront costs with pre-orders. When the development reaches a plateau and nothing radically new is coming, who's going to prepay an order for a rig that most likely won't make them a profit? No-one sane, so the model has to change or companies vanish. A lot will anyway, like any area of manufacturing. Still...if nothing new is coming, there's little profit, why mine with them at all?

Eventually people will quit mining and buying rigs, that will decease the hashrate and the difficulty with it...so people will mine when difficulty allows a profit instead of all the time like we do now?

Scenario2. It carries on but goes outside the pockets of normal people mining at home and into corporate size operations. Instead of companies like Hashfast and CT and KNC selling us rigs, they just make them to use themselves, easier for them to make a profit since they are paying trade price not what we need to...so for them it's economical. I'd be surprised if private operations aren't already onto this given the price of BTC.

The system works based on people mining and their hashrate governs difficulty. If people stop due to the difficulty, it will drop. Then they maybe jump back on the horse and it will rise again ...people stopping mining won't kill anything. What would you do if this time next year difficulty was lower than today because loads of people quit mining? You can't say you wouldn't get the rig back online. Can you?



Gonna be an interesting year 2014. Year of the ASIC in the bitcoin calendar.

[Anddos]

Exactly Asics are going to wiped them selfs out
CoinTerra wont even release how many there going to ship
Which tells me its going to be alot as they know its going to be saturated to make any coins back
All Companys know this right now i am sure,bitcoin will die as no one will be able to aford to run them at such a high difficulty,its GameOver i am afraid

Not likely at all.

Scenario 1. ASICs carry on as they are increasing in power. Companies who sell them NOW make money because they have large profit margins...and we fund the upfront costs with pre-orders. When the development reaches a plateau and nothing radically new is coming, who's going to prepay an order for a rig that most likely won't make them a profit? No-one sane, so the model has to change or companies vanish. A lot will anyway, like any area of manufacturing. Still...if nothing new is coming, there's little profit, why mine with them at all?

Eventually people will quit mining and buying rigs, that will decease the hashrate and the difficulty with it...so people will mine when difficulty allows a profit instead of all the time like we do now?

Scenario2. It carries on but goes outside the pockets of normal people mining at home and into corporate size operations. Instead of companies like Hashfast and CT and KNC selling us rigs, they just make them to use themselves, easier for them to make a profit since they are paying trade price not what we need to...so for them it's economical. I'd be surprised if private operations aren't already onto this given the price of BTC.

The system works based on people mining and their hashrate governs difficulty. If people stop due to the difficulty, it will drop. Then they maybe jump back on the horse and it will rise again ...people stopping mining won't kill anything. What would you do if this time next year difficulty was lower than today because loads of people quit mining? You can't say you wouldn't get the rig back online. Can you?



Gonna be an interesting year 2014. Year of the ASIC in the bitcoin calendar.

If people stop and the hashrate lowers then its just going to be a repeatable circle of people starting back up and increasing the difficulty again,bitcoin is doomed in 2014,i am calling it now

[timmmers]

Exactly Asics are going to wiped them selfs out
CoinTerra wont even release how many there going to ship
Which tells me its going to be alot as they know its going to be saturated to make any coins back
All Companys know this right now i am sure,bitcoin will die as no one will be able to aford to run them at such a high difficulty,its GameOver i am afraid

Worst care scenario in what you seem to think, no more mining? What would happen to gold if gold mining stopped? It would aall vanish, or the price would rocket? It exists, it can't vanish, only change in value. Same for BTC.

There's only one sensible way to go for miners now as far as new rigs are concerned. Miners developing their own rigs using crowd funding to bypass the mnuafacturer's profit.  Become the manufacturers of the rigs you're already funding with pre-orders. Not an easy option at all but it's possible with the money to pay expertise. That's exactly what KNC did but they used pre-orders and our money to pay for it and kept the profit. Nice work if you can get it eh?

[U1TRA_L0RD]

The next network difficulty will make you less bitcoins so those 3 th/s wont be worth shit by the time they deliver.

What? The next difficulty won't be anything drastic, and we all know it's always rising..but to rise 100% as it has in the past do you realise how much hash power would need to be added?

Those 3TH or likely 4TH 20nm rigs will be the new norm, it's the stuff we all have now and that is about to roll out that won't be so sparky anymore....unless of course BTC prices rise significantly again...which will make slower rigs viable.

If a 3 or 4TH rig isn't worth shit when it's the ONLY such 20nm rig available next march or april..mining is dead , simple as that.

How does one come about to making their own mining hardware, you know like a Blade Erupter, My dad just got a good soldering kit for his hobby of repairing cellphone motherboards. Thanks.

[timmmers]

The next network difficulty will make you less bitcoins so those 3 th/s wont be worth shit by the time they deliver.

What? The next difficulty won't be anything drastic, and we all know it's always rising..but to rise 100% as it has in the past do you realise how much hash power would need to be added?

Those 3TH or likely 4TH 20nm rigs will be the new norm, it's the stuff we all have now and that is about to roll out that won't be so sparky anymore....unless of course BTC prices rise significantly again...which will make slower rigs viable.

If a 3 or 4TH rig isn't worth shit when it's the ONLY such 20nm rig available next march or april..mining is dead , simple as that.

How does one come about to making their own mining hardware, you know like a Blade Erupter, My dad just got a good soldering kit for his hobby of repairing cellphone motherboards. Thanks.

You'd need to buy the chip at least, not really possible without serious skills and knowledge sadly. Some people on here have done group buys and built some stuff though...maybe find some info in those threads. The chances of finding a faulty ASIC and repairing it may be half decent though, there must be some around and if your dad does that as a hobby maybe he could do that?

[gamersglory]

The first Hashfast and cointerra miners are starting to go out that's why.

https://twitter.com/HashFast/status/418106414280609793

The email I had a few hours ago from Cointerra says different. Chips and boards..no rigs. Pretty pics of the boards and chips..not a finished machine in sight. They would mention that wouldn't they?

Worry about the KNC rigs, early and faster seems likely so 2400 x 4 or 5 TH rigs about march. That's pretty likely

They Did.

http://hashfast.com/were-shipping-2013/

Cointerra is not Hashfast

KNC's rigs have a few Quality control issues. There Jupeters love to blow caps and stop mining.   

[cp1]

So are those $2200 miners hitting 600 GH/s if I read the news post right?  Should make about 21 BTC, which is pretty much break even if you bought them when BTC was $100.

[U1TRA_L0RD]

The next network difficulty will make you less bitcoins so those 3 th/s wont be worth shit by the time they deliver.

What? The next difficulty won't be anything drastic, and we all know it's always rising..but to rise 100% as it has in the past do you realise how much hash power would need to be added?

Those 3TH or likely 4TH 20nm rigs will be the new norm, it's the stuff we all have now and that is about to roll out that won't be so sparky anymore....unless of course BTC prices rise significantly again...which will make slower rigs viable.

If a 3 or 4TH rig isn't worth shit when it's the ONLY such 20nm rig available next march or april..mining is dead , simple as that.

How does one come about to making their own mining hardware, you know like a Blade Erupter, My dad just got a good soldering kit for his hobby of repairing cellphone motherboards. Thanks.

You'd need to buy the chip at least, not really possible without serious skills and knowledge sadly. Some people on here have done group buys and built some stuff though...maybe find some info in those threads. The chances of finding a faulty ASIC and repairing it may be half decent though, there must be some around and if your dad does that as a hobby maybe he could do that?

I need to do more info on this, who knows, I can be the next hardware manufacturer on the market and sure it would make sure for it to be fast to ship (You can tell im dreaming).

[cdog]

I can see the hashrate skyrocketing once the multi-TH/s units are actually being delivered

Right, because ASICs can only hash when they are actually in the hands of the consumers who preordered them. Its physically impossible for them to hash before this time, because they havent "ripened" yet properly. That requires months of sitting idling in an offsite storage facility. Its like cheese, or winemaking. Yeah, thats it. Thats the ticket!

http://www.youtube.com/watch?v=Mx3wrfhQaqk

[timmmers]

The first Hashfast and cointerra miners are starting to go out that's why.

https://twitter.com/HashFast/status/418106414280609793

The email I had a few hours ago from Cointerra says different. Chips and boards..no rigs. Pretty pics of the boards and chips..not a finished machine in sight. They would mention that wouldn't they?

Worry about the KNC rigs, early and faster seems likely so 2400 x 4 or 5 TH rigs about march. That's pretty likely

They Did.

http://hashfast.com/were-shipping-2013/

Cointerra is not Hashfast

KNC's rigs have a few Quality control issues. There Jupeters love to blow caps and stop mining.   

HE said both were shipping, they are not. Jupiters in the 1st early batch had a few issues which were solved either by firmware or replacement boards. Cointerra are not shipping, and neither are hashfast in any real numbers yet. KNC had 2000 plus rigs delivered in 4 weeks the 1st time they ever manufactured an ASIC...next time they'll have learned from that.

As for a 2k rig hashing 600GH breaking even if paid for when BTC were 100 dollars...you think a 600 GH rig starting mining today will manage to mine 20BTC? I don't. Paid with flat it will break even but buying rigs for BTC can be the stupidest mistake.

[chuckscap]

No doubt all of our current miners will be obsolete in a few months (two, three, four?).  As for us our Jupiter has earned 8 BTC since Dec 9th.  By 1 Feb even if the difficulty doubles we will be ahead of the game in BTC (we are already ahead in USD).   There is no doubt mining is becoming a big boy's game, so hold on to your bitcoins and let's hope they drive the price through the roof ...

[skywave]

..and while you big boys throw around your bits - I'm one idiot sitting here with a 0.02 BTC balance hoping my BFL Monarch 600GH/s will arrive in time just to make 1 or 2 BTC.. Which probably won't happen..
Yes - buying BTC directly is probably the best way now..

[Xian01]

They Did.
http://hashfast.com/were-shipping-2013/

 Not genuine or accurate. HashFast has, by all accounts, only shipped out two developer units, and mass-production is estimated to be several weeks off from what I'm reading in the various HashFast threads.