[closed] Buy shares NOT

[kseistrup]

It's complicated…   

[BioMike]

It's complicated…   

Ok, I'll throw a bone (wanted to post this earlier, but thought it would be wise to buy some of these shares first, so I did ):

If you look percent-wise (percent payout against value of the share) the share is not so bad (1% in a week, that is more then what you get in savings accounts at conventional banks). But again, increasing difficulty requires you to compare the USD value of the bitcoins you used to buy the share to the USD value of the payout.

Now, lets hope dishwara gets his shares sold and his rig up and running before difficulty rises again.

[kseistrup]

Now, lets hope dishwara gets his shares sold and his rig up and running before difficulty rises again.

Yeah, wish him good luck!

Cheers,

[dishwara]

As for "monitor/keyboard/mouse", is IMHO not really needed (you could access the system from your current workstation through a network cable), could safe some money on that.

Can you please tell me how to access system through network cable?
Using team viewer...like that please tell.

I also need to know which  mother board has 4 pci ex & supports 4 gpu's or 8 gpu's (Linux) with out any problems. Also instead of pci ex 16 or 8, can i use 5870 or 5970 in pci x1 with extension cable & can mine without problems?
http://bitcointalk.org/index.php?topic=6128.0
Can i use both x1 & x16 cable in a mobo with 4 ex 8 or 16 slot & 1-2 ex 1 slot?
So that in a single mobo i can run even 6-8* 5870's.

[BioMike]

ssh / vnc / remote desktop... depending on the OS and what you want to achieve.

[dishwara]

55 shares sold so far, gives me 55 btc & i have 10 btc with me now & another 3 in 3-5 hours.

Since i changed my cabinet & PSU to new one, the old iball cabinet is with me now +
I have a 15" CRT monitor Samsung 55V & Samsung keyboard M2A, which is from my first pc i bought in march 2000 & Logitech mouse.

I also have a GIGAbyte 8I945GZME mobo, core 2 duo intel, 512 MB RAM from mobo, 160GB HDD, DVD drive.
These are my frnds parts which he gave for service & its still with me for the past 4 months (don't know when he will call).

So, actually now i have a complete pc & i also try to mine with my old 9400GT card & stopped coz, it won't give anything.

Now i just need one 5870 card & one 750 W PSU, to start mining.

These are i decide to buy, since they are the cheapest available to me.
1.MSI 1024MB GDDR5/ATI HD5870/Military Class/Extreme Design R5870 Lightning II Graphics Card
2.Cooler Master GX 750W

For that i need totally 500-550 USD , thats 180 btc.
Already have 55+13= 68, so 180-68 = 112.
If another 100-120 shares sold, i can start mining with in 3-4 days.
3-4 days for getting the card & psu from seller.

Just have to convert btc to LR & i saw 2 sites converting them in India to my bank.
Also, saw one guy post in forum, that he exchanges, searching his post.....

So, please some one buy shares at least 100-120 sold will make me to start mining & biz in less than a week.

[BioMike]

How much will that generate per hour? I guess less?

[dishwara]

I'm not doubting your credibility, just making sure that this is a sound investment (and not giving you money to work with and find out later that there were better things to invest in).

It's not to you, but to travex, below is his message.

Yo dishware, don't bother with building up the rig instead send me the fund since I can provide cheap hardware 5870 - 140$ or 5970 for - 350$ plus FREE electricity !
I'm on 4x 5970 now, if you are interested, Pm me

I am building rig, so i can mine. Since i am short of money, i released shares.
Every one is doubting about my credibility & i am trying to prove.
You asking to give the money i raise, so that you build & mine.
Don't you think its funny?

------------------------------------------------------------------------------------------------------------------------------------------------------------------------

I can run a 5870 at least 350 Mhash/s. Thats with current difficulty takes, average 15 days, 13 hours, 50 minute= 15*24+14= 374 hours per block.
50/374= 0.133 btc per hour. For 24 hrs = 3.19 bitcoin

Its really making me sad that even though i have a old pc, & some bought my shares, i can't do mining , but only wait.
Getting a single 5870 & 750W PSU will help start mining & also help future upgrade & also share profits.
Next thing i buy is mother board. so can have more gpu cards.

[JJG]

...
I can run a 5870 at least 350 Mhash/s. Thats with current difficulty takes, average 15 days, 13 hours, 50 minute= 15*24+14= 374 hours per block.
50/374= 0.133 btc per hour. For 24 hrs = 3.19 bitcoin
...

Difficulty is expected to jump 36% in 4.8 days. If you were funded right now and placed your orders, by the time your hardware arrived your expected income would fall to 2.35 BTC / day. And that amount would only last for 10 days or so, at which point difficulty would rise again and your expected income would fall even more.

I'm not sure how you plan to ever pay all of this back with difficulty rising so fast.

[dishwara]

Difficulty only increase if more miners join, & bitcoin value increases.
If bitcoin value increases, even though the share holders get less coin, but their profit in terms of money they get in hand will be same or more only.
Please read above posts also.

[JJG]

Difficulty only increase if more miners join, & bitcoin value increases.
If bitcoin value increases, even though the share holders get less coin, but their profit in terms of money they get in hand will be same or more only.
Please read above posts also.

You are correct that difficulty only increases if more miners join. This is how the system works.

You are incorrect that difficulty increases will only happen if bitcoin value increases. This is wild speculation.

[Nefario]

Difficulty only increase if more miners join, & bitcoin value increases.
If bitcoin value increases, even though the share holders get less coin, but their profit in terms of money they get in hand will be same or more only.
Please read above posts also.

You are correct that difficulty only increases if more miners join. This is how the system works.

You are incorrect that difficulty increases will only happen if bitcoin value increases. This is wild speculation.

Wild speculation? This has been a recognised pattern on the bitcoin markets/difficulty level for some time, at least as long as I've been on this forum.

When price drops below a certain value (below cost) miners will stop mining, difficulty will fall.

When the price grows, profits rise, and more miners join driving up the difficulty. Difficulty is totally driven by price at this point.

[JJG]

Difficulty only increase if more miners join, & bitcoin value increases.
If bitcoin value increases, even though the share holders get less coin, but their profit in terms of money they get in hand will be same or more only.
Please read above posts also.

You are correct that difficulty only increases if more miners join. This is how the system works.

You are incorrect that difficulty increases will only happen if bitcoin value increases. This is wild speculation.

Wild speculation? This has been a recognised pattern on the bitcoin markets/difficulty level for some time, at least as long as I've been on this forum.

When price drops below a certain value (below cost) miners will stop mining, difficulty will fall.

When the price grows, profits rise, and more miners join driving up the difficulty. Difficulty is totally driven by price at this point.

Difficulty is determined by the number of miners in the system.

Exchange rate is determined by the number of people wanting to buy bitcoins vs. the number of people wanting to sell bitcoins.

There is some correlation, but they certainly don't drive each other.

The marginal cost of mining (profit - electricity) for those already invested is still huge, and has a long way to fall. Right now you can turn $1.00 of electricity into well over $10 of bitcoins. If difficulty truly was propping up exchange rates, this marginal ratio would have to fall a lot.

We still have plenty of room for difficulty to go up at the current exchange rate before miners start backing out.

[dishwara]

Difficulty only increase if more miners join, & bitcoin value increases.
If bitcoin value increases, even though the share holders get less coin, but their profit in terms of money they get in hand will be same or more only.
Please read above posts also.

You are correct that difficulty only increases if more miners join. This is how the system works.

You are incorrect that difficulty increases will only happen if bitcoin value increases. This is wild speculation.

Wild speculation? This has been a recognised pattern on the bitcoin markets/difficulty level for some time, at least as long as I've been on this forum.

When price drops below a certain value (below cost) miners will stop mining, difficulty will fall.

When the price grows, profits rise, and more miners join driving up the difficulty. Difficulty is totally driven by price at this point.

Difficulty is determined by the number of miners in the system.

Exchange rate is determined by the number of people wanting to buy bitcoins vs. the number of people wanting to sell bitcoins.

There is some correlation, but they certainly don't drive each other.

The marginal cost of mining (profit - electricity) for those already invested is still huge, and has a long way to fall. Right now you can turn $1.00 of electricity into well over $10 of bitcoins. If difficulty truly was propping up exchange rates, this marginal ratio would have to fall a lot.

We still have plenty of room for difficulty to go up at the current exchange rate before miners start backing out.

The system is designed in such a way that both more mining & more price will increase difficulty.
If more price don't increase difficulty, then the price will sky rocket making the value of bitcoin to increase in hurry.
More price means many wanted to mine which will increase difficulty.
More value makes more miners to mine which makes difficulty increase.

[JJG]

The system is designed in such a way that both more mining & more price will increase difficulty.
If more price don't increase difficulty, then the price will sky rocket making the value of bitcoin to increase in hurry.
More price means many wanted to mine which will increase difficulty.
More value makes more miners to mine which makes difficulty increase.

This is only true around an equilibrium point. At the moment, the marginal cost of mining (profits - electricity costs) is nowhere near 0. Difficulty must increase a lot before this happens, actually.

We already know that the difficulty is going to rise 36% in less than 5 days. We also know that bitcoin mining is spreading like wildfire on hardware forums, with people ordering all of the 5870s and 5970s they can find just for mining. As these people get their rigs delivered and operational, difficulty will most certainly increase.

If you truly, truly believe that rising difficulty is going to result in higher prices, why wouldn't you just buy BTC? Then when the exchange rate rises with difficulty, as you are sure it will, your BTC investment will rise just as much. And you never even had to buy any hardware.

If you find that hard to believe, then you either don't understand how difficulty works or you don't actually believe that the exchange rate is going to rise.

[dishwara]

Please, If you have no interest to buy my shares, then better stay away.
I can't keep on explaining same thing again & again to you.
I WANT TO MINE NOT TO TROLL.
From the reputation you got & from the number of posts & date you joined this forum, It's clear that you are here to just argue, nothing more.
Don't waste your time & my time.

Those believe in me will buy my shares.
If no one buy my shares then i take, no one believes me.
please don't troll.

[JJG]

Please, If you have no interest to buy my shares, then better stay away.
I can't keep on explaining same thing again & again to you.
I WANT TO MINE NOT TO TROLL.
From the reputation you got & from the number of posts & date you joined this forum, It's clear that you are here to just argue, nothing more.
Don't waste your time & my time.

Those believe in me will buy my shares.
If no one buy my shares then i take, no one believes me.
please don't troll.

I must apologize. My intention was not to troll, but rather to see your numbers for how you expected to pay your investors back.

Surely you must have some calculations or forecasts that show how you will make a profit in order to pay investors back? These questions are pertinent to anyone considering investing in such an operation. Sharing these forecasts in detail would go a long way to helping your credibility and gaining investors.

I'll bow out of this conversation now.

[dishwara]

Negative reputation can be given by anyone, but reply to post, so that i know who gave me reputation & why.

55 shares sold so far, if i sell 180+, i can start mining with minimum hardware.

[dishwara]

Sold coins & ordered one 5870 card, must reach with in 5-6 days.

[BioMike]

Sold coins & ordered one 5870 card, must reach with in 5-6 days.

Does this mean you got more shares sold?