cosmofly (OP)
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April 06, 2014, 11:34:17 PM |
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Its like everywhere Miners are dumping their ASICS, on sale pretty much everywhere, i wonder why Discuss
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protokol
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April 06, 2014, 11:39:41 PM |
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Well they must be getting bought by other miners then, how else do you explain the exponential graph?
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herebittybittybitty
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April 06, 2014, 11:40:17 PM |
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A lot of people are willing to buy miners at a cost yielding a negative ROI. There are also a lot of people who are doing that math and finding it more prudent to sell to them than mine.
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herebittybittybitty
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April 06, 2014, 11:41:39 PM |
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Well they must be getting bought by other miners then, how else do you explain the exponential graph?
The 1, 2, 3 TH machine pre-order dump is underway.
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cosmofly (OP)
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April 06, 2014, 11:47:27 PM |
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Well they must be getting bought by other miners then, how else do you explain the exponential graph?
The 1, 2, 3 TH machine pre-order dump is underway. mega dump, on sale at a discount everywhere
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cosmofly (OP)
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April 06, 2014, 11:48:19 PM |
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A lot of people are willing to buy miners at a cost yielding a negative ROI. There are also a lot of people who are doing that math and finding it more prudent to sell to them than mine.
is that even sustainable, how much more can you compensate future negative ROI buying more worthless asics with your past profits. its like the whole mining game is about to collapse, if not now soon enough
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fonzie
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April 06, 2014, 11:53:30 PM |
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Another huge sign about the upcoming collapse of Bitcoin price. I´m a bit worried.
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"To know death, Otto, you have to fuck life in the gallbladder" www.hsbc.com - The world´s local bank "These FUDsters are insane egomaniacs that just want cheap BTC" - oblivi
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herebittybittybitty
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April 07, 2014, 12:02:03 AM |
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Why would less mining result in lower bitcoin prices?
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protokol
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April 07, 2014, 12:02:45 AM |
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Well they must be getting bought by other miners then, how else do you explain the exponential graph?
The 1, 2, 3 TH machine pre-order dump is underway. Yeah that makes sense. I wonder if miners are selling older machines that will never see a +ve ROI (cutting their losses), or selling newer machines for a profit (making money on early pre-orders). I also wonder if some are upgrading their machines to newer models? its like the whole mining game is about to collapse, if not now soon enough Well the graph shows that the network speed is increasing exponentially, so no, the whole mining game won't collapse. What will happen eventually (as has been discussed a lot) is that some miners with higher costs will drop out, slowing/reversing difficulty, until an equilibrium is reached.
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str4wm4n
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April 07, 2014, 12:05:04 AM |
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PANIC
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serenitys
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Be Here Now
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April 07, 2014, 12:05:31 AM |
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How is it going to lower prices? Mining just slows the creation of new bitcoin...the usefulness of it and the short supply is what gives it is market value...I'd imagine it would rise since they'd be more scarce. Plus, given the exponential rate of computing power, eventually the machines will be better equipped to mine in a more productive manner. And surely some miner out there has managed to figure out how to slash the overall expense by going solar...
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You say "anti government" like that's a bad thing...
Unfortunate times will bring out the best in good people and the worst in bad people
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amspir
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April 07, 2014, 12:19:50 AM |
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How is it going to lower prices? Mining just slows the creation of new bitcoin...the usefulness of it and the short supply is what gives it is market value...I'd imagine it would rise since they'd be more scarce.
Not correct. The bitcoin network self-adjusts to keep the creation of new bitcoin on schedule. From an investor's point of view, the creation of new bitcoin has a known, tightly self-regulated rate of creation.
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jbrnt
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April 07, 2014, 12:20:14 AM |
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Its like everywhere Miners are dumping their ASICS, on sale pretty much everywhere, i wonder why They are on sale maybe, but hardly dumping. They are still sold at impossible-to-breakeven price. If they are selling 1TH/s machines for say 0.1 btc, that will be dumping
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franky1
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April 07, 2014, 12:22:27 AM |
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Its like everywhere Miners are dumping their ASICS, on sale pretty much everywhere, i wonder why Discuss new generations that are higher hashrate and less power use are on the market. and unlike GPU's which they switched over to scrypt coins.. the old gen ASICS get to a point of being useless. so the last ditch attempt to make money is to sell old tech same applies for gamer's after a while its time to update your gaming machine. at one point playstation 3 was the most sought after item, everyone wanted one but there were not enough to go around. now everyone is buying the new playstation and throwing thier old console onto ebay, cheaper (bt not too cheap to be classed as 'dumping')
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I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER. Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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southerngentuk
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Sugars.zone | DatingFi - Earn for Posting
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April 07, 2014, 12:22:43 AM |
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Its like everywhere Miners are dumping their ASICS, on sale pretty much everywhere, i wonder why Discuss Maybe some links to everywhere. Am sure there are a few, its a dynamic industry, but hey at least try to back up your claim with some evidence, Otherwise its just.... Thud, Thud Thud Thud
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vpitcher07
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April 07, 2014, 12:24:17 AM |
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How is it going to lower prices? Mining just slows the creation of new bitcoin...the usefulness of it and the short supply is what gives it is market value...I'd imagine it would rise since they'd be more scarce.
Not correct. The bitcoin network self-adjusts to keep the creation of new bitcoin on schedule. From an investor's point of view, the creation of new bitcoin has a known, tightly self-regulated rate of creation. That's technically not correct either. On average 25 bitcoins are created every 10 minutes however that doesn't mean we can't find 5 blocks in 5 minutes adding 125 bitcoins in 5 minutes (Unlikely but possible). It's designed that on average it should be close to 10 minutes but that's not always true. To call it tightly regulated is a bit of an overstatement - it can be a lot quicker or a lot slower.
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Bitcoin: The currency of liberty 1HBJSf3Lm9i8KxjZ7fuoN9FJ8hniniFbv4
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TwinWinNerD
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April 07, 2014, 12:26:36 AM |
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PANIC
haha yeah. Most miners never do any math and speculate with a rising BTC price to pay for the hardware. When in fact just buying BTC would yield a better ROI overall. Well, and if the BTC price does not appreciate, they wonder, why the difficulty keeps rising. LOL
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serenitys
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Be Here Now
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April 07, 2014, 12:27:16 AM |
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How is it going to lower prices? Mining just slows the creation of new bitcoin...the usefulness of it and the short supply is what gives it is market value...I'd imagine it would rise since they'd be more scarce.
Not correct. The bitcoin network self-adjusts to keep the creation of new bitcoin on schedule. From an investor's point of view, the creation of new bitcoin has a known, tightly self-regulated rate of creation. Which part?
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You say "anti government" like that's a bad thing...
Unfortunate times will bring out the best in good people and the worst in bad people
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amspir
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April 07, 2014, 12:29:16 AM |
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Not correct. The bitcoin network self-adjusts to keep the creation of new bitcoin on schedule. From an investor's point of view, the creation of new bitcoin has a known, tightly self-regulated rate of creation.
That's technically not correct either. On average 25 bitcoins are created every 10 minutes however that doesn't mean we can't find 5 blocks in 5 minutes adding 125 bitcoins in 5 minutes (Unlikely but possible). It's designed that on average it should be close to 10 minutes but that's not always true. To call it tightly regulated is a bit of an overstatement - it can be a lot quicker or a lot slower. Compared to the decision making process behind a sovereign centralized bank currency, the rate of creation of bitcoin is much more known and tightly regulated than the creation of USD, for example.
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raindex
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April 07, 2014, 01:10:09 AM |
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Its like everywhere Miners are dumping their ASICS, on sale pretty much everywhere, i wonder why Discuss The winter is over in the northern hemisphere. We don't need heaters anymore, so we sell them.
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baller1
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April 07, 2014, 01:21:13 AM |
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How is it going to lower prices? Mining just slows the creation of new bitcoin...the usefulness of it and the short supply is what gives it is market value...I'd imagine it would rise since they'd be more scarce.
Not correct. The bitcoin network self-adjusts to keep the creation of new bitcoin on schedule. From an investor's point of view, the creation of new bitcoin has a known, tightly self-regulated rate of creation. Not correct.. well partly correct, yes it does self adjust... after 2016 blocks have been mined, ie, a very long time. To pretend that the centralization of hashing that is going on, like how the "unknown" petahash has grown about 40% just in the last month, .. you know. KNC's solo mining... Isn't a big problem? .. Is really bad and could be catastrophic to the network if/when one of these giant powers were to go down, power loss, whatever. We've already seen a few occasions where there have been whole days of petahash dropping a bit and block finds were longer than usual throughout those days.. We need to be open and honest about it, perhaps there's a way for mining to still be competitive while helping the network without it becoming just a few huge centralized powers of hash, but I feel that boat has sailed because of skewed information like you and others keeps propagating.. For the record, I've done over a 100 tx with BTC and have yet to have one tx only take 60 minutes for 6 full confirmations, and I always pay fees, there's always a 20-40 min. block in there somewhere... just saying..
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serenitys
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Be Here Now
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April 07, 2014, 01:24:47 AM |
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As much as I've fallen in love with this forum and have gotten maybe 13 hours sleep in 3 days, might I just say that yall are about the nit pickiest buncha people I've ever seen...must yall seriously debate half a dozen pages over a word? I mean really... (see ya on page 112)
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You say "anti government" like that's a bad thing...
Unfortunate times will bring out the best in good people and the worst in bad people
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master-P
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April 07, 2014, 01:25:15 AM |
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Guys it's going to be game over soon. I just read an article explaining how bitcoin is going to reach negative values and bagholders are going to have to pay people to take bitcoins off their hands: http://finance.yahoo.com/blogs/talking-numbers/this-could-be-the-end-of-the-bitcoin-era-220746326.htmlFirst people were dumping their ASICs and now this. Oh what shall we do? On a more serious note, it's no surprise that next-gen mining hardware will make the previous generation obsolete. Some of those people buying these unprofitable ASICs probably don't pay for electricity, and may yet see an ROI.
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jockular
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April 07, 2014, 01:43:44 AM |
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bitcoin is going nowhere, it's literally the new paradigm, but 99.999999% of people just *dont get it*... yet
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TwinWinNerD
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April 07, 2014, 01:46:10 AM |
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bitcoin is going nowhere, it's literally the new paradigm, but 99.999999% of people just *dont get it*... yet
Let me guess, you were shouting things like that, since BTC was 1$?
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Tripjammer
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April 07, 2014, 01:57:05 AM |
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They dumping the old crappy equipment. Newer equipment is all sold out. Mining will be fine. New equipment is just going to get cheaper. If a bitcoin is worth something people are going to still mine plus bitcoins are not the only cryptocoin that you can mine with asics...there are a lot of other profitable sha256 based coins.
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BoogieMan82
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April 07, 2014, 02:12:11 AM |
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Eh, I'll likely keep my miners going even with a small negative roi. How many of us leave lights on, or TV's plugged in at night. Far more power is wasted in your house by Phantom Energy Loss. I have no problem helping keep the network going smooth. ... when my miner arrives tomorrow ...
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kthejung
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April 07, 2014, 04:19:21 AM |
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Guys it's going to be game over soon. I just read an article explaining how bitcoin is going to reach negative values and bagholders are going to have to pay people to take bitcoins off their hands: http://finance.yahoo.com/blogs/talking-numbers/this-could-be-the-end-of-the-bitcoin-era-220746326.htmlFirst people were dumping their ASICs and now this. Oh what shall we do? On a more serious note, it's no surprise that next-gen mining hardware will make the previous generation obsolete. Some of those people buying these unprofitable ASICs probably don't pay for electricity, and may yet see an ROI. wow... just watched the video. some notable quotes: "bitcoins can be created indiscriminately by the (bitcoin)community" and "bitcoins may be -$100 someday"
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J_Dubbs
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April 07, 2014, 04:21:20 AM |
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Sold my cubes at low USD (eBay) prices and bought BTC and picked up a bunch of Antminers (ninja tech). Sell low buy low, and there's still a spread on selling through eBay but buying more direct sources with BTC. In the end, mining is a long-term play and selling equipment low will just help with claiming losses anyways. You might see selling, but lots of those sellers might be buying with the proceeds from sales... I'm psyched, got out of my high-heat units before summer, got more revenues a, less heat and less power consumption, essentially exchanged through selling.
"Profitability" only matters if buying with BTC, the unit should be able to mine back more BTC than it cost. Everyone makes this mistake though- when a unit is purchased with USD the profitability is based entirely on a speculative value of Bitcoin. In fact, now that the IRS wants everything recorded in terms of USD even the BTC purchases are measured in terms of dollars. You cannot measure profitability accurately in any way with something like BTC, the further out you forecast the less accurate it will be. I have no idea why people constantly measure this shit based on present exchange values, we are speculating, the whole point is the uncertainty is priced in and nobody knows what units will end up profitable.
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raindex
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April 07, 2014, 04:37:37 AM |
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Guys it's going to be game over soon. I just read an article explaining how bitcoin is going to reach negative values and bagholders are going to have to pay people to take bitcoins off their hands: http://finance.yahoo.com/blogs/talking-numbers/this-could-be-the-end-of-the-bitcoin-era-220746326.htmlFirst people were dumping their ASICs and now this. Oh what shall we do? On a more serious note, it's no surprise that next-gen mining hardware will make the previous generation obsolete. Some of those people buying these unprofitable ASICs probably don't pay for electricity, and may yet see an ROI. wow... just watched the video. some notable quotes: "bitcoins can be created indiscriminately by the (bitcoin)community" and "bitcoins may be -$100 someday" You both didn't notice that it's dated April 1st.
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Lauda
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Terminated.
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April 07, 2014, 04:47:53 AM |
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]
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"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion)
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Trillium
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April 07, 2014, 05:59:34 AM |
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BTC:1AaaAAAAaAAE2L1PXM1x9VDNqvcrfa9He6
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hellscabane
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April 07, 2014, 06:21:01 AM |
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Sold my cubes at low USD (eBay) prices and bought BTC and picked up a bunch of Antminers (ninja tech). Sell low buy low, and there's still a spread on selling through eBay but buying more direct sources with BTC. In the end, mining is a long-term play and selling equipment low will just help with claiming losses anyways. You might see selling, but lots of those sellers might be buying with the proceeds from sales... I'm psyched, got out of my high-heat units before summer, got more revenues a, less heat and less power consumption, essentially exchanged through selling.
"Profitability" only matters if buying with BTC, the unit should be able to mine back more BTC than it cost. Everyone makes this mistake though- when a unit is purchased with USD the profitability is based entirely on a speculative value of Bitcoin. In fact, now that the IRS wants everything recorded in terms of USD even the BTC purchases are measured in terms of dollars. You cannot measure profitability accurately in any way with something like BTC, the further out you forecast the less accurate it will be. I have no idea why people constantly measure this shit based on present exchange values, we are speculating, the whole point is the uncertainty is priced in and nobody knows what units will end up profitable.
There definitely has been a clamor to sell at "low" prices with the intent to buy at "lower" prices. But yes, in the end, mining is a long-term play and the sale of equipment is a factor is making ROI. Now it's a matter of consolidating equipment to address many factors that are upcoming in the next few months (a new generation of ASICs, the impending summer months, and speculation on the BTC conversion rate).
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Equate
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April 07, 2014, 06:27:50 AM |
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Because now the profitability with asics is not good.
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igorr
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April 07, 2014, 11:00:07 AM |
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Now is mining factor about 3.5 cent/Gh at 24h, What will happen when the drops below 1 cent/Gh at 24h ? I warned 17.dec 2013 year: https://bitcointalk.org/index.php?topic=374935.msg4014576#msg4014576
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Cлaвьcя, Oтeчecтвo нaшe cвoбoднoe, Бpaтcкиx нapoдoв coюз вeкoвoй, Пpeдкaми дaннaя мyдpocть нapoднaя! Cлaвьcя, cтpaнa! Mы гopдимcя тoбoй!
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Bitcoin Magazine
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April 07, 2014, 11:07:43 AM |
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people make more btc = more likely to sell it at a lower price people make less btc = more likely to sell it at a higher price it's simply economics folks!
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i am here.
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johnyj
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Beyond Imagination
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April 07, 2014, 11:43:50 AM |
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They will become heaters in Nordic country
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igorr
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April 07, 2014, 11:44:42 AM |
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They will become heaters in Nordic country
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Cлaвьcя, Oтeчecтвo нaшe cвoбoднoe, Бpaтcкиx нapoдoв coюз вeкoвoй, Пpeдкaми дaннaя мyдpocть нapoднaя! Cлaвьcя, cтpaнa! Mы гopдимcя тoбoй!
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Newmine
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April 07, 2014, 08:52:01 PM |
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They will become heaters in Nordic country
I had 3 Block Erupter Cubes running through February and March and they kept my large living room at about 72 degrees consistently. My heater never kicked on. I bought the three off Ebay for $1040.00. I sold them for $795. I made .24BTC. I paid ebay 10% of the $795. -1040+795-79+(.24*450 current BTC= -216.00 Not Profitable at current BTC price!BTC was around $800 I think. If I bought 1.25BTC for $1000, I would be underwater $440. Less Profitable at current BTC price!It's a gamble either way
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Lathanium
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April 07, 2014, 09:11:52 PM |
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Yes there is offloading of older asics going on out there. I let go of my avalon batch 2 finally. Thats all profit
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ArticMine
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Monero Core Team
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April 07, 2014, 09:15:26 PM |
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They will become heaters in Nordic country
Or Canada ...
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cosmofly (OP)
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PrimeDAO - An Adoption Engine for Open Finance
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April 07, 2014, 09:26:25 PM |
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Miners are dumping their asics on daily basis the number of asics on sale is significantly on the rise.
Bitcoin mining is collapsing . there will only be few data centers left it will be so centralized might as well rename bitcoin to Bitripple in the near future.
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BittBurger
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April 07, 2014, 10:37:47 PM |
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My kingdom for a mining company that doesn't do pre-orders.
Ships immediately.
I know, i know. You can stop laughing.
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Klestin
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April 07, 2014, 10:57:27 PM |
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Miners are dumping their asics on daily basis the number of asics on sale is significantly on the rise.
Bitcoin mining is collapsing . there will only be few data centers left it will be so centralized might as well rename bitcoin to Bitripple in the near future.
You actually think the ones buying the old generation of used hardware are data centers? Or did I just feed a troll?
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googlemaster1
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April 07, 2014, 11:12:09 PM |
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Can the bitcoin price stay low for a while to discourage new ASIC investment PLEASE and let us get good use of our current hardware? Sorry for all you nerds who bought BTC at $800, but some of us have bought a crapton of mining equipment back when the diff was ~2Billion. I dream of a 5% difficulty increase in a cycle in April hahaha.
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BTC: 15565dcUp4LEWe6KYT7tawMHFRL4cBbFGN
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hodlmybtc
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April 07, 2014, 11:14:25 PM |
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Mining just slows the creation of new bitcoin
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Bit_Happy
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A Great Time to Start Something!
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April 07, 2014, 11:53:55 PM |
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Mining just slows the creation of new bitcoin Is that the most interesting miner in the World? Let's ask him some questions.
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b¡tco¡n
Member
Offline
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Correct Horse Battery Staple
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April 08, 2014, 01:04:53 AM |
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Guys it's going to be game over soon. I just read an article explaining how bitcoin is going to reach negative values and bagholders are going to have to pay people to take bitcoins off their hands: http://finance.yahoo.com/blogs/talking-numbers/this-could-be-the-end-of-the-bitcoin-era-220746326.htmlFirst people were dumping their ASICs and now this. Oh what shall we do? On a more serious note, it's no surprise that next-gen mining hardware will make the previous generation obsolete. Some of those people buying these unprofitable ASICs probably don't pay for electricity, and may yet see an ROI. I'll take your bitcoins off your hands for free. Just send them to the address in my sig, and I promise I wont send you a disposal bill.
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paulsonnumismatics
Sr. Member
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Honni Soit Qui Mal i Pense
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April 08, 2014, 02:48:40 AM |
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Why would less mining result in lower bitcoin prices? Both #7 and #8 wrong. They are selling 400 Gh/s units because theyre expecting delivery of 1,2 and 4 Thash ones. That is not less mining. Is waaaay more mining. And for all that power to be profitable, someone will be aware that at current prices its absurd to fork $5000 on some ASIC to mine 7 or 8 BTCs and resell it later for $999. He will just buy 12 BTCs and save on power, maintenance, et al. At least, thats how i see it.
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This space is for lease, apparently.
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dani
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April 08, 2014, 10:10:49 AM |
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Miners are dumping their asics on daily basis the number of asics on sale is significantly on the rise.
Bitcoin mining is collapsing . there will only be few data centers left it will be so centralized might as well rename bitcoin to Bitripple in the near future.
Sure.
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Hai
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BoogieMan82
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April 08, 2014, 02:47:04 PM |
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They will become heaters in Nordic country
I had 3 Block Erupter Cubes running through February and March and they kept my large living room at about 72 degrees consistently. My heater never kicked on. I bought the three off Ebay for $1040.00. I sold them for $795. I made .24BTC. I paid ebay 10% of the $795. -1040+795-79+(.24*450 current BTC= -216.00 Not Profitable at current BTC price!BTC was around $800 I think. If I bought 1.25BTC for $1000, I would be underwater $440. Less Profitable at current BTC price!It's a gamble either way But with heating costs so high this winter ($200+/mo)... maybe you DID make a profit
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igorr
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April 08, 2014, 03:47:24 PM |
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Cлaвьcя, Oтeчecтвo нaшe cвoбoднoe, Бpaтcкиx нapoдoв coюз вeкoвoй, Пpeдкaми дaннaя мyдpocть нapoднaя! Cлaвьcя, cтpaнa! Mы гopдимcя тoбoй!
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porcupine87
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April 08, 2014, 04:56:42 PM |
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I wonder when the growth of the hashrate starts to relax. This is amazing. For one year and more we get a growth of about 20% per week (or even more. per difficulty adjustment). Sure, the price of mining hardware just decreased by a few factors in just a year and the price is much higher. But this is just great! ASICs is the best thing that could happen to Bitcoin! Fact is: You can use ASCIs only for Bitcoin mining and the cost of running them is small compared to the buying price. So if the hardware is out there, a decrease in difficulty is improbable. Non-Asic-Coins don't have that advantage. Why would less mining result in lower bitcoin prices? The network would become less secure. But I really don't think that it would matter significantly. Even 1/10 of the current hashrate could be considered as secure.
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"Morality, it could be argued, represents the way that people would like the world to work - whereas economics represents how it actually does work." Freakonomics
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ChuckBuck
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April 08, 2014, 07:24:41 PM |
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What's bicoin? Is that a new sexually ambiguous Alt coin?
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Bit_Happy
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April 08, 2014, 07:46:10 PM |
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What's bicoin? Is that a new sexually ambiguous Alt coin? bicoin?Finally a coin that knows how to handle almost any situation? Perhaps he ment bipolar coin.
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sssubito
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April 08, 2014, 07:50:15 PM |
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I know why the pole's ice will be melting away...
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cloverme
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SpacePirate.io
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April 08, 2014, 09:50:59 PM |
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Miners are just trading in their equipment for newer equipment. I've got some 30ghs cubes that I'll be selling soon as well.
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tatepastor
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April 09, 2014, 03:18:22 AM |
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for all of you that are scared of bitcoin ending your wrong! the us debt will be a 18 tr by the end of the year. we have dug ourselves in a hole we can never get out of. The people will turn to something to keep trade going. I believe it will be the crypto universe. hold out for a bit longer. The us dollar is a pile of shit. The Chinese see and the Russian also see it. Don't give up!
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igorr
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April 09, 2014, 11:49:52 AM |
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Bitcoin can not jump without MtGox !
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Cлaвьcя, Oтeчecтвo нaшe cвoбoднoe, Бpaтcкиx нapoдoв coюз вeкoвoй, Пpeдкaми дaннaя мyдpocть нapoднaя! Cлaвьcя, cтpaнa! Mы гopдимcя тoбoй!
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dani
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April 09, 2014, 12:54:13 PM |
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Bitcoin can not jump without MtGox !
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Hai
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Lauda
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Terminated.
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April 09, 2014, 06:28:49 PM |
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Bitcoin can not jump without MtGox !
You are spreading nonsense.
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"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion)
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Bit_Happy
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April 09, 2014, 06:48:29 PM |
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Miners DUMPING their ASICs I would like to see photos of miners dumping/throwing their ASICs out a window. Do you have any?
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ChuckBuck
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April 09, 2014, 06:55:20 PM |
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Miners DUMPING their ASICs I would like to see photos of miners dumping/throwing their ASICs out a window. Do you have any?
I'm going to start scouring the landfills for old KNC Saturns and Jupiters!
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Bit_Happy
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April 09, 2014, 06:57:22 PM |
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Miners DUMPING their ASICs I would like to see photos of miners dumping/throwing their ASICs out a window. Do you have any?
I'm going to start scouring the landfills for old KNC Saturns and Jupiters! Dumpster diving for pizzas and ASICs.......?High-tech bums are getting rich while you sit and work all day.
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TwinWinNerD
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CEO Bitpanda.com
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April 10, 2014, 03:16:43 AM |
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Miners DUMPING their ASICs I would like to see photos of miners dumping/throwing their ASICs out a window. Do you have any?
I'm going to start scouring the landfills for old KNC Saturns and Jupiters! Dumpster diving for pizzas and ASICs.......?High-tech bums are getting rich while you sit and work all day. Now I have a picture of a bum burning waste to heat a steam engine that powers hundreds of asic miners in my head.... thanks
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Bit_Happy
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A Great Time to Start Something!
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April 10, 2014, 03:41:19 AM |
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Miners DUMPING their ASICs I would like to see photos of miners dumping/throwing their ASICs out a window. Do you have any?
I'm going to start scouring the landfills for old KNC Saturns and Jupiters! Dumpster diving for pizzas and ASICs.......?High-tech bums are getting rich while you sit and work all day. Now I have a picture of a bum burning waste to heat a steam engine that powers hundreds of asic miners in my head.... thanks Very creative idea. Too much carbon from the burning waste, but still interesting.
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cmg5461
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April 10, 2014, 05:39:49 AM |
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If I've helped: 1CmguJhwW4sbtSMFsyaafikJ8jhYS61quz
Sold: 5850 to lepenguin. Quick, easy and trustworthy.
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XScrypt
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April 11, 2014, 03:34:30 AM |
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LTC- LKdDXfJbCqMHpqTZwhaMKRE51eA7PPsCYy
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Bit_Happy
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A Great Time to Start Something!
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April 11, 2014, 04:11:57 AM |
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Another great troll thread. What a wonderful world?
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Cranky4u
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April 11, 2014, 04:43:56 AM |
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How is it going to lower prices? Mining just slows the creation of new bitcoin...the usefulness of it and the short supply is what gives it is market value...I'd imagine it would rise since they'd be more scarce. Plus, given the exponential rate of computing power, eventually the machines will be better equipped to mine in a more productive manner. And surely some miner out there has managed to figure out how to slash the overall expense by going solar... I did I put my 2011 ~ 2012 BTC into a 1.5kW solar system. Now my modest rig, only a Jally and some GPUs as the solar array was not cheap, continues to mine. With the advent of ASICs, I have an abudnace of power but not enough $$$ for more mining rigs. If you have some ASICs just collecting dust, msg me...
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amspir
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April 11, 2014, 11:01:04 PM |
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And surely some miner out there has managed to figure out how to slash the overall expense by going solar... I did I put my 2011 ~ 2012 BTC into a 1.5kW solar system. Now my modest rig, only a Jally and some GPUs as the solar array was not cheap, continues to mine. With the advent of ASICs, I have an abudnace of power but not enough $$$ for more mining rigs. Just curious, are you able to sell power back to the electric grid? If so, is it more economical to mine with old equipment than to sell your power back to the grid?
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spazzdla
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April 12, 2014, 01:56:58 PM |
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Where are these sales..
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cowandtea
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April 12, 2014, 02:02:14 PM |
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Well they must be getting bought by other miners then, how else do you explain the exponential graph? Alot people pre-ordered ASIC and now the company are shipping their ASIC due to BTC price drop
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smoothie
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LEALANA Bitcoin Grim Reaper
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April 13, 2014, 03:31:52 AM |
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1. Buy asics
2. Mine with it
3. Cash out some
4. Sell asics
5. Buy more coins with proceeds
lol
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███████████████████████████████████████
,╓p@@███████@╗╖, ,p████████████████████N, d█████████████████████████b d██████████████████████████████æ ,████²█████████████████████████████, ,█████ ╙████████████████████╨ █████y ██████ `████████████████` ██████ ║██████ Ñ███████████` ███████ ███████ ╩██████Ñ ███████ ███████ ▐▄ ²██╩ a▌ ███████ ╢██████ ▐▓█▄ ▄█▓▌ ███████ ██████ ▐▓▓▓▓▌, ▄█▓▓▓▌ ██████─ ▐▓▓▓▓▓▓█,,▄▓▓▓▓▓▓▌ ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌ ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓─ ²▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩ ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀ ²▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀` ²²² ███████████████████████████████████████
| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ . LEALANA BITCOIN GRIM REAPER SILVER COINS. |
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thresher
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April 13, 2014, 04:35:51 AM |
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1. Buy asics
2. Mine with it
3. Cash out some
4. Sell asics
5. Buy more coins with proceeds
lol
You must be smart. I used proceeds to buy more equipment to try and stay ahead in the mining race...:-P !
Just curious, are you able to sell power back to the electric grid? If so, is it more economical to mine with old equipment than to sell your power back to the grid? In US, my friend's parents gets roughly half the rate the power company charges them (they do not produce surplus in winter.) Now that he bought his own place and is moving out in August, maybe I can sneak my way in and offer them the same deal or maybe even a flat fee depending on how much they actually give back . Only problem is people think my mining rigs are some illegal hacking machine or that they are going to burn the house down.
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smoothie
Legendary
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LEALANA Bitcoin Grim Reaper
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April 13, 2014, 05:02:04 AM |
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1. Buy asics
2. Mine with it
3. Cash out some
4. Sell asics
5. Buy more coins with proceeds
lol
You must be smart. I used proceeds to buy more equipment to try and stay ahead in the mining race...:-P !
Just curious, are you able to sell power back to the electric grid? If so, is it more economical to mine with old equipment than to sell your power back to the grid? In US, my friend's parents gets roughly half the rate the power company charges them (they do not produce surplus in winter.) Now that he bought his own place and is moving out in August, maybe I can sneak my way in and offer them the same deal or maybe even a flat fee depending on how much they actually give back . Only problem is people think my mining rigs are some illegal hacking machine or that they are going to burn the house down. Good luck with that. The Bitcoin mining arm's race is a losing battle for 90%+ of miners. Easier to just HODL and not have to worry about paying electric costs, rental space, and also maintenance/upkeep when an ASIC crashes or errors out.
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███████████████████████████████████████
,╓p@@███████@╗╖, ,p████████████████████N, d█████████████████████████b d██████████████████████████████æ ,████²█████████████████████████████, ,█████ ╙████████████████████╨ █████y ██████ `████████████████` ██████ ║██████ Ñ███████████` ███████ ███████ ╩██████Ñ ███████ ███████ ▐▄ ²██╩ a▌ ███████ ╢██████ ▐▓█▄ ▄█▓▌ ███████ ██████ ▐▓▓▓▓▌, ▄█▓▓▓▌ ██████─ ▐▓▓▓▓▓▓█,,▄▓▓▓▓▓▓▌ ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌ ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓─ ²▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩ ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀ ²▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀` ²²² ███████████████████████████████████████
| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ . LEALANA BITCOIN GRIM REAPER SILVER COINS. |
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wemine
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April 13, 2014, 05:33:32 PM |
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I don't think it's a wise decision buy rig now
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Noruka
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April 15, 2014, 04:46:54 PM |
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Well they must be getting bought by other miners then, how else do you explain the exponential graph?
The 1, 2, 3 TH machine pre-order dump is underway. months ahead on that refund train
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STT
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Leading Crypto Sports Betting & Casino Platform
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April 16, 2014, 02:22:12 AM |
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Can anyone explain to me why should the market care about difficulty. Does it affect the product or is it just a mining problem. Does BTC get more secure each time the diff rises or is this all like one of those tractor pulls http://www.youtube.com/watch?v=N8QTprCYgD8
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..Stake.com.. | | | ▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
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gamersglory
Member
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No more Crypto in this world
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April 16, 2014, 02:27:42 AM |
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It's simple really with the new Scrypt ASIC coming out. It's more profitable to mine Scrypt coins and trade them for BTC or hope that one of the fly by night coins get adopted
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monsterasic
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April 16, 2014, 05:00:49 PM |
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Many turned to Scrypt and soon there will be ASICs available too. Very soon
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Wyatt
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April 17, 2014, 04:24:46 AM |
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Still, no one has answered where they are dumping their ASICs?
I don't think there is a mass dump but some people have posted on here that they have sold, so where did you sell?
I want buy second hand (cheap) ASICs and I'm completely unimpressed with what I'm seeing on ebay.
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spazzdla
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April 17, 2014, 03:31:00 PM |
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Dumping their gear at... OVER THE PRICE OF WHAT THEY BOUGHT IT AT...
...................... This is not dumping................ LMAO.
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smoothie
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LEALANA Bitcoin Grim Reaper
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April 19, 2014, 09:35:45 AM |
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Dumping their gear at... OVER THE PRICE OF WHAT THEY BOUGHT IT AT...
...................... This is not dumping................ LMAO.
I know right? OP seems to think that's a bad thing or bearish thing.
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███████████████████████████████████████
,╓p@@███████@╗╖, ,p████████████████████N, d█████████████████████████b d██████████████████████████████æ ,████²█████████████████████████████, ,█████ ╙████████████████████╨ █████y ██████ `████████████████` ██████ ║██████ Ñ███████████` ███████ ███████ ╩██████Ñ ███████ ███████ ▐▄ ²██╩ a▌ ███████ ╢██████ ▐▓█▄ ▄█▓▌ ███████ ██████ ▐▓▓▓▓▌, ▄█▓▓▓▌ ██████─ ▐▓▓▓▓▓▓█,,▄▓▓▓▓▓▓▌ ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌ ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓─ ²▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩ ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀ ²▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀` ²²² ███████████████████████████████████████
| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ . LEALANA BITCOIN GRIM REAPER SILVER COINS. |
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Shogen
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April 19, 2014, 12:57:04 PM |
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Can anyone explain to me why should the market care about difficulty. Does it affect the product or is it just a mining problem. Does BTC get more secure each time the diff rises or is this all like one of those tractor pulls http://www.youtube.com/watch?v=N8QTprCYgD8The higher the difficulty, the ASIC will generate less bitcoin for you. The higher the difficulty (total network hashrate), it will be harder for someone to control >50% hashrate to launch a 51% attack.
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