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powersup
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April 25, 2014, 01:12:16 PM |
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still cant login to bitmain website. Is anyone else having the same issue?
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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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TracerX
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April 25, 2014, 01:14:27 PM |
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And he wants to leave out taxation law to make it true.
I wasn't leaving out tax law to "make it true", I was leaving out U.S. tax law as we're not all citizens of the U.S. Whether or not you turn a profit in the long run has a number of layers to it, depending on how tax law works out in the country you pay taxes in. I'm pleased that you've done the numbers for yourself, and invite everyone to do the same for themselves, in their unique situation.That was really the point of this exercise, doing the math yourself on a solid foundation of logic. And yes, you can always sell these units for a profit on eBay, or write off the expense on your taxes as a business expense, or do any other number of things to come out ahead. What you can't do, however, is call mining less BTC than you paid a profit because the exchange rate went up in your favor. If the exchange rate went down, with the same logic, you've doubled down on your loss. |
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s1lverbox
Legendary
 Offline
Activity: 2310
Merit: 1039
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April 25, 2014, 01:18:16 PM |
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still cant login to bitmain website. Is anyone else having the same issue?
Its working like charm. clear cookies |
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TracerX
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April 25, 2014, 01:23:14 PM |
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still cant login to bitmain website. Is anyone else having the same issue?
Its working like charm. clear cookies I'm also able to get there this morning. |
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mez
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April 25, 2014, 01:40:35 PM |
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still cant login to bitmain website. Is anyone else having the same issue?
Its working like charm. clear cookies I'm also able to get there this morning. |
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powersup
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April 25, 2014, 01:55:57 PM |
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still cant login to bitmain website. Is anyone else having the same issue?
Its working like charm. clear cookies Thanks, removing cookies worked  |
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s1lverbox
Legendary
Offline
Activity: 2310
Merit: 1039
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April 25, 2014, 02:12:30 PM |
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still cant login to bitmain website. Is anyone else having the same issue?
Its working like charm. clear cookies Thanks, removing cookies worked As usual.. |
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igorr
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April 25, 2014, 02:57:27 PM |
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New price for AntMiner S1: 0.63 0.619 btc each one, shipping cost included.
damn how long can you go? (not complaining just impressed) it can go to zero usd per Gh, useless hardware. |
Cлaвьcя, Oтeчecтвo нaшe cвoбoднoe,
Бpaтcкиx нapoдoв coюз вeкoвoй,
Пpeдкaми дaннaя мyдpocть нapoднaя!
Cлaвьcя, cтpaнa! Mы гopдимcя тoбoй!
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ChuckBuck
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April 25, 2014, 03:00:35 PM |
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New price for AntMiner S1: 0.63 0.619 btc each one, shipping cost included.
damn how long can you go? (not complaining just impressed) it can go to zero usd per Gh, useless hardware. Maybe even negative usd per Gh. Soon all miners will blow up, Bitcoin will die, and Dorian will have a heart attack.  Time to pack up and leave boys. Igorr has it all figured out... |
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tzortz
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April 25, 2014, 03:22:08 PM |
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Guys , don't be naive.
Bitmain are not idiots, they want to get rid of the S1 as they are obsolete/dead already.
They will soon present a new model or something with lower consumption.( I am not talking about the unsuccessful S2)
Don't start with the undervolt / underclock options, please. This is not a permanent solution.
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All is Mine!
1H7LUdfx9AFTMSXPsCBror3RDk57zgnc2R
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s1lverbox
Legendary
Offline
Activity: 2310
Merit: 1039
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April 25, 2014, 03:31:25 PM |
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Guys , don't be naive.
Bitmain are not idiots, they want to get rid of the S1 as they are obsolete/dead already.
They will soon present a new model or something with lower consumption.( I am not talking about the unsuccessful S2)
Don't start with the undervolt / underclock options, please. This is not a permanent solution.
this is the best comment here. +1000 for you. and please do not hate, appreciate. s1 soon become like USB erupted 333mhz. If one unit produce only 0.01 btc now what will produce next month? how many units simple bob will need to make money? and please don't give this bulshit about hobby etc. s1 was great miner, was because time to move on. s2 not that great anymore. future...will see |
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TrytoHex
Member
Offline
Activity: 86
Merit: 10
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April 25, 2014, 03:33:03 PM |
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Guys , don't be naive.
Bitmain are not idiots, they want to get rid of the S1 as they are obsolete/dead already.
They will soon present a new model or something with lower consumption.( I am not talking about the unsuccessful S2)
Don't start with the undervolt / underclock options, please. This is not a permanent solution.
With an electricity price of 0,0573 dollarcents they can mine for quote a while Here in Belgium. Wondering when we Will get those coupons, I hope not when all S1's are sold out... |
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Jacko
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April 25, 2014, 03:35:32 PM |
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I was just thinking the same thing about the Coupon's. It would be just my luck that they are out when the coupons come.
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wpgdeez
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April 25, 2014, 03:38:05 PM |
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Knew I should have waited until this morning to order!
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tzortz
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April 25, 2014, 03:44:07 PM |
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Guys , don't be naive.
Bitmain are not idiots, they want to get rid of the S1 as they are obsolete/dead already.
They will soon present a new model or something with lower consumption.( I am not talking about the unsuccessful S2)
Don't start with the undervolt / underclock options, please. This is not a permanent solution.
this is the best comment here. +1000 for you. and please do not hate, appreciate. s1 soon become like USB erupted 333mhz. If one unit produce only 0.01 btc now what will produce next month? how many units simple bob will need to make money? and please don't give this bulshit about hobby etc. s1 was great miner, was because time to move on. s2 not that great anymore. future...will see Thanks s1lverbox for agreeing with me, as you already said , time will show everything. |
All is Mine!
1H7LUdfx9AFTMSXPsCBror3RDk57zgnc2R
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klondike_bar
Legendary
Offline
Activity: 2128
Merit: 1005
ASIC Wannabe
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April 25, 2014, 03:44:35 PM |
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Guys , don't be naive.
Bitmain are not idiots, they want to get rid of the S1 as they are obsolete/dead already.
They will soon present a new model or something with lower consumption.( I am not talking about the unsuccessful S2)
Don't start with the undervolt / underclock options, please. This is not a permanent solution.
The S1 might be a better deal than you think - If you are able to consider the value of decreaseing the voltage or clockspeeds every month or so to maximize the GH/w ratio compared to power costs. Without pencil mod you can probably go to around 160GH/210W , and later pencil-mod to 120GH/140W which adds a few more difficulty jumps where you turn a small profit. Consider that for 8*0.618BTC (4.944 BTC) you could probably tune these to run at 1TH/1300W in 1-2 months from now. I havent bought yet at the lower price, because my spatial limits make it more reasonable to buy compact 1TH+ devices - but I cannot justify >5BTC for a 1TH/1kW device |
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tzortz
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April 25, 2014, 03:50:53 PM |
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Lets say you want to invest for 2 Th/s.
Means you will need 16x S1s or 2x A1 clones for example.
option a):
-16x S1s
-need PSUs and power cables.
-Need a router and 16x ethernet cables
-Need much more space.
-Need, also, baby sitting
-Consume 2600W
Cost: Around 11 BTC
option b):
-2x A1 Ths clones
-Consume 2000W
Cost: Around 10 BTC
You choose.
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All is Mine!
1H7LUdfx9AFTMSXPsCBror3RDk57zgnc2R
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aztecminer
Legendary
Offline
Activity: 1092
Merit: 1000
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April 25, 2014, 04:01:15 PM
Last edit: April 25, 2014, 04:15:34 PM by aztecminer |
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well then don't use your mined coins to buy new hardware with ?? use fiat to buy new coins and use those coins as a vehicle to pay for ur new hardware. problem solved.
Nope, doesn't work that way. If you buy BTC with fiat and you end up mining less BTC than the BTC you spent on the hardware, regardless of what fiat you paid, you've netted a loss. The conversion from fiat to BTC doesn't matter, because you paid in BTC. Let's do some math (complicated tax issues out of the picture). i am in disagreement with you on this. mined coins are not the same as buying coins and using those paid for coins as a vehicle to buy hardware. you are only out the fiat you paid. in the usa the difference (at least atm) between a mined coin and a bought coin is in the taxes you pay. the mined coin we pay income tax while a bought coin we will only pay capital gains tax if the value were to rise. imo the right way to buy mining hardware is to use 'new money' converted to btc used as a vehicle to make the purchase. if you buy through coinbase then the btc never has to even reach your wallet and this amount can be used as a claim on taxes for hardware purchases. i know you are going to try to twist that around into whether your fiat money gained or lost money during the conversion and transmittal to the hardware manufacture. another point i disagree with you about is that the usd dollar is always basically the same. you see the usd dollar reserve currency is on it's deathbed. what that means is everything is on sale right now compared to what a usd reserve currency dollar will buy in the near future. holding usd reserve currency dollars for long term is a bad strategy. right now the housing sales looks like 2007 and we all know what happened with that scenario. the fastest way to lose money is hold as much usd reserve currency and other paper junk for long term investments lol. now in my scenario i converted usd reserve currency into btc and bought an asset called mining hardware. i could have just held onto the btc and waited on capital gains. but because i didn't do it that way i now hold btc that i have mined and own mining hardware which i actually got on sale compared to the value of the usd reserve currency in the future. |
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cad_cdn
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April 25, 2014, 04:01:27 PM |
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can you please answer my many questions and complaints about expired coupons. New price for AntMiner S1: 0.63 0.619 btc each one, shipping cost included.
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cad_cdn
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April 25, 2014, 04:03:19 PM |
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expired, and couldn't even use them because there was no stock, and when there was stock, the website order system was broken. ...and bitmain refusing to answer my many questions about coupons. Price down again!
Again? Still overpriced. Wait few more days. Bitmain no coupons? I though by ordering 5 units -AGAIN , im so kind returning customer...Obviously not. Does anyone have coupons from bitmain? |
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