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galdur
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February 12, 2015, 12:25:42 AM |
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Well, I suspect that it´ll pull back and end in +5-6%. Which is terrible enough after the last 7.7%. Then hopefully there will be some corrections in the hash bubble into the spring.
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"Governments are good at cutting off the heads of a centrally
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thevictimofuktyranny
Legendary
 Offline
Activity: 1092
Merit: 1004
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February 12, 2015, 12:33:31 AM |
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Well, I suspect that it´ll pull back and end in +5-6%. Which is terrible enough after the last 7.7%. Then hopefully there will be some corrections in the hash bubble into the spring.
Problem is that miners/commercial operations simply aren't throwing away their old mining equipment  When I sold off my Scrypt ASICs last year, it took me 5 hours to break it all down and tidy up. Commercial operations, labor costs of breaking down an old Bitcoin Farm must be up around $10,000 plus, so you can see why all these old units are switched off and never dismantled and put in the trash  |
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samsonn25
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February 12, 2015, 12:39:23 AM |
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Another thing against the retail people is the manufacturers dont have much incentive to release new products immediately. They all secretly mine new efficient miners for some time and then release later when they become less efficient. I truly also belive they keep track with themselves to keep pricing of existing and new machines not too low. Because they control the chip and machine and manufacture industry. with profits getting smaller they must all work closer together by not killing themselves.
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galdur
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February 12, 2015, 12:53:38 AM |
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My current theory is that those big miners will maintain a pretty solid support at about where BTC is now. After all if they keep blowing up the hash bubble (with the perfect inverse correlation between hash amount and BTC price) they must conversely decrease their dumping of BTC. If the price of bitcoin gets solidly entrenched well below 200 for a prolonged period most mining becomes a dubious proposition I guess. So, I´m assuming that they´ll want to stay in business and therefore will do their best not to let the BTC market render them extinct.
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galdur
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February 12, 2015, 01:10:09 AM |
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But what about that big bump there you may ask. Doesn´t that break the perfect inverse correlation ? Well, bitcoin experts and mining geniuses congregated in Holland last May for the bitcoin lovefest of the year. Spirits and expectations were sky high to say the least. Read about it here BTC to break $2,000 mark by Christmas – Experts http://cointelegraph.com/news/111597/btc_to_break_2_000_mark_by_christmas_experts  |
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IanFoxley
Legendary
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Activity: 910
Merit: 1000
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February 12, 2015, 04:56:24 PM |
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Hey,
Just wanted to say to the last few posters, it is nice to see some good information and topics being discussed instead of some of the negativitity that people have been posting in the last month or so.
All very informative and useful..
Thanks
Ian
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thevictimofuktyranny
Legendary
Offline
Activity: 1092
Merit: 1004
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February 12, 2015, 05:40:06 PM |
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I did this for those people who prefer rigid historical analysis versus future modelling of economic conditions analysis. I know some people prefer the former to the latter, even if that kind of analysis is less profitable in the long run  Using this chart at coindesk: http://www.coindesk.com/data/bitcoin-mining-difficulty-time/20 May 2014: 6.9 billion start 27 September 2014: 34.6 billion finish Net increase over 4.3 months 5x or 500% higher 28 September 2014: 34.6 billion start 11 February 2015: 44.45 billion finish --Today--- Net increase 4.3 months 28.46%  The last measurement over the last 4.3 months looks much better and speculatively hints at a difficulty halting its rising trend at some point in 2015 (at least for a short while) |
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TXTCLA55
Newbie
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Activity: 31
Merit: 0
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February 12, 2015, 08:01:55 PM |
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I did this for those people who prefer rigid historical analysis versus future modelling of economic conditions analysis. I know some people prefer the former to the latter, even if that kind of analysis is less profitable in the long run Using this chart at coindesk: http://www.coindesk.com/data/bitcoin-mining-difficulty-time/20 May 2014: 6.9 billion start 27 September 2014: 34.6 billion finish Net increase over 4.3 months 5x or 500% higher 28 September 2014: 34.6 billion start 11 February 2015: 44.45 billion finish --Today--- Net increase 4.3 months 28.46% The last measurement over the last 4.3 months looks much better and speculatively hints at a difficulty halting its rising trend at some point in 2015 (at least for a short while) Hmm, I guess (from what I'm reading here) the craze of mining is starting to slow as the price balances out. I'm in for the long haul, might as well buy a few more hashes.  |
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thevictimofuktyranny
Legendary
Offline
Activity: 1092
Merit: 1004
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February 12, 2015, 08:24:42 PM
Last edit: February 12, 2015, 08:45:05 PM by thevictimofuktyranny |
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I did this for those people who prefer rigid historical analysis versus future modelling of economic conditions analysis. I know some people prefer the former to the latter, even if that kind of analysis is less profitable in the long run Using this chart at coindesk: http://www.coindesk.com/data/bitcoin-mining-difficulty-time/20 May 2014: 6.9 billion start 27 September 2014: 34.6 billion finish Net increase over 4.3 months 5x or 500% higher 28 September 2014: 34.6 billion start 11 February 2015: 44.45 billion finish --Today--- Net increase 4.3 months 28.46% The last measurement over the last 4.3 months looks much better and speculatively hints at a difficulty halting its rising trend at some point in 2015 (at least for a short while) Hmm, I guess (from what I'm reading here) the craze of mining is starting to slow as the price balances out. I'm in for the long haul, might as well buy a few more hashes. Remember difficulty is going up in 11 days to 48.45 billion, dividends will be reduced by 8.39%; adjust your ROI calculations and decide if it is worthwhile. I bought my hash in December and therefore I've got some of BTC back  Also, AMhash1 at Havelock is less productive, but considerably cheaper. But, excellent customer service, error free payouts, regularity of payouts and coin choice is not part of that package. So, if you like the overall package of benefits at Genesis mining (I got my BTC converted into DRK and LTC for 1 month, which has done nicely) is what you need to relax, then it is the right choice for you |
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BittBurger
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February 13, 2015, 01:03:49 AM |
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Ready for a long term investment...upgrading to more in the next few days : )  -B- |
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samsonn25
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February 13, 2015, 01:52:36 AM |
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Ready for a long term investment...upgrading to more in the next few days : ) -B- About .14 electricity and .50 watt/ efficiency |
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Icon
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February 13, 2015, 02:22:46 AM |
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Well you sir are getting royal screwed.. according to https://alloscomp.com/bitcoin/calculatorYour weekly (before fees are) $6,933.37 @ 221.10 per btc and you are only get $2,400? LoL that's about 3/4 in fees ouchieee  Icon |
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galdur
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February 13, 2015, 02:24:31 AM
Last edit: February 13, 2015, 02:42:00 AM by galdur |
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Man, I wish I had more money than sense ... In my current investments an outlay of 750 BTC would be earning AT LEAST 5 BTC per day net. And that´s a slow day  |
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TXTCLA55
Newbie
Offline
Activity: 31
Merit: 0
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February 13, 2015, 05:40:32 AM |
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I did this for those people who prefer rigid historical analysis versus future modelling of economic conditions analysis. I know some people prefer the former to the latter, even if that kind of analysis is less profitable in the long run Using this chart at coindesk: http://www.coindesk.com/data/bitcoin-mining-difficulty-time/20 May 2014: 6.9 billion start 27 September 2014: 34.6 billion finish Net increase over 4.3 months 5x or 500% higher 28 September 2014: 34.6 billion start 11 February 2015: 44.45 billion finish --Today--- Net increase 4.3 months 28.46% The last measurement over the last 4.3 months looks much better and speculatively hints at a difficulty halting its rising trend at some point in 2015 (at least for a short while) Hmm, I guess (from what I'm reading here) the craze of mining is starting to slow as the price balances out. I'm in for the long haul, might as well buy a few more hashes. Remember difficulty is going up in 11 days to 48.45 billion, dividends will be reduced by 8.39%; adjust your ROI calculations and decide if it is worthwhile. I bought my hash in December and therefore I've got some of BTC back Also, AMhash1 at Havelock is less productive, but considerably cheaper. But, excellent customer service, error free payouts, regularity of payouts and coin choice is not part of that package. So, if you like the overall package of benefits at Genesis mining (I got my BTC converted into DRK and LTC for 1 month, which has done nicely) is what you need to relax, then it is the right choice for you I do prefer GM to anyone else, simply on the premise that according to my research they're likely to be around the longest. I'll have to factor in the diff change, but I'm not dropping too much capital into it. Man, I wish I had more money than sense ... In my current investments an outlay of 750 BTC would be earning AT LEAST 5 BTC per day net. And that´s a slow day Man, and here I am with less than a TH trying to make the most of a student budget lol. |
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galdur
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February 13, 2015, 05:49:49 AM |
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I did this for those people who prefer rigid historical analysis versus future modelling of economic conditions analysis. I know some people prefer the former to the latter, even if that kind of analysis is less profitable in the long run Using this chart at coindesk: http://www.coindesk.com/data/bitcoin-mining-difficulty-time/20 May 2014: 6.9 billion start 27 September 2014: 34.6 billion finish Net increase over 4.3 months 5x or 500% higher 28 September 2014: 34.6 billion start 11 February 2015: 44.45 billion finish --Today--- Net increase 4.3 months 28.46% The last measurement over the last 4.3 months looks much better and speculatively hints at a difficulty halting its rising trend at some point in 2015 (at least for a short while) Hmm, I guess (from what I'm reading here) the craze of mining is starting to slow as the price balances out. I'm in for the long haul, might as well buy a few more hashes. Remember difficulty is going up in 11 days to 48.45 billion, dividends will be reduced by 8.39%; adjust your ROI calculations and decide if it is worthwhile. I bought my hash in December and therefore I've got some of BTC back Also, AMhash1 at Havelock is less productive, but considerably cheaper. But, excellent customer service, error free payouts, regularity of payouts and coin choice is not part of that package. So, if you like the overall package of benefits at Genesis mining (I got my BTC converted into DRK and LTC for 1 month, which has done nicely) is what you need to relax, then it is the right choice for you I do prefer GM to anyone else, simply on the premise that according to my research they're likely to be around the longest. I'll have to factor in the diff change, but I'm not dropping too much capital into it. Man, I wish I had more money than sense ... In my current investments an outlay of 750 BTC would be earning AT LEAST 5 BTC per day net. And that´s a slow day Man, and here I am with less than a TH trying to make the most of a student budget lol. I was referring to that Bittburger guy and his dead money. I figure his outlay was like 750 BTC. The yield is just paltry. And that´s putting it mildly. And with the BTC price $100 or so from taking that yield to zero or so this small yield makes even less sense with such a large investment. He must have listened to idiots who are useless except as counter-indicators. |
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Zeta0S
Legendary
Offline
Activity: 1890
Merit: 1031
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February 13, 2015, 07:01:01 AM |
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Ready for a long term investment...upgrading to more in the next few days : ) -B- Man o man, so cool, what a power do you have!!! You must have 1/4 of all Genesis Mining power!? Can i see your coin selection as well? Guess there will be some Unobtanium in there? p.s Hope you used my discount voucher |
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Wintermute
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February 13, 2015, 07:07:00 PM |
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Ready for a long term investment...upgrading to more in the next few days : ) -B- So the sleeping whales awake In my opinion this can work out. In the current market environment efficiency is the key. If you are one of the most efficient miners, you will stay in the market while others have to turn their machines off. We are clearly moving away from an exponential growth scenario where you had to ROI within 2-3 months (or get screwed by the exponential function) to a more sustainable scenario where mining is a long term investment. The only negative scenarios that can happen are: 1) Mass deployment of machines with same electricity efficiency class and cheaper or free electricity. This is unlikely to happen. Those who have cheap electricity available will already make a profit from it. I am not talking about 100 kW free electricity here, but about amounts like 20-50 MW that make a difference. 2) Significantly more efficient ASICs are available. This could theoretically happen, however: (i) making major improvements over current design gets gradually more difficult (and expensive!) (ii) investments in chips would have been taken place at a time where Bitcoin price was under massive pressure (iii) I am not aware of any next generation tape outs (a friend has good contact to several manufacturers and he did not hear about next generation chips). I have purchased also some sha256 hashrate recently (knowing that it is a long-term investment). Thumbs up BittBurger! |
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galdur
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February 13, 2015, 07:30:59 PM |
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Well, at the moment BTC doesn´t seem to be at death´s door - a rare occurrence. Let´s hope it lasts.
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zerocoder
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February 14, 2015, 08:47:22 PM |
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I am thinking about buying some TH from genesis mining, could anybody inform me about the ROI and maintenance fee? No matter how hard I try, I am not able to find the maintenance fee  |
"Break the Big Banks" - http://BERN.cash - #NotMeUS #rEVOLution BERN BRpJhL4VVsJPwVnHc26iqG3kxxKtF6UEFo |
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btcgnome
Member
Offline
Activity: 66
Merit: 10
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February 14, 2015, 08:53:58 PM |
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I am thinking about buying some TH from genesis mining, could anybody inform me about the ROI and maintenance fee? No matter how hard I try, I am not able to find the maintenance fee It's in the contract. 1) Open an account 2) Purchase GHS (without actually purchasing) 3) Before the final confirmation page you will be able to "View Contract". I believe it is 0.0015 USD. |
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