400GH/s - how many BTC can you extract?

[GODLIKE]

so the point is 'DO NOT MINING'? am i right?
so if that's true now is time to move on altcoins

I'm writing a guide on why altcoins are, practically all, fated to fail.
I'll make it short here for you: everybody is accepting BTC, NOT altcoins.
Everybody is building infrastructure on BTC, only some accept some altcoins.
Everybody is investing in BTC, only some put something into altcoins.
If you have some exceeding money to trash, buy some altcoins and hope that in the future at least one will step up, otherwise stay far from them.

[wakhidNkcom]

so the point is 'DO NOT MINING'? am i right?
so if that's true now is time to move on altcoins

I'm writing a guide on why altcoins are, practically all, fated to fail.
I'll make it short here for you: everybody is accepting BTC, NOT altcoins.
Everybody is building infrastructure on BTC, only some accept some altcoins.
Everybody is investing in BTC, only some put something into altcoins.
If you have some exceeding money to trash, buy some altcoins and hope that in the future at least one will step up, otherwise stay far from them.

mining bitcoins is bad, altcoin is bad.. so what's exactly you ask us to do?
trading with big loose? or stop thinking about bitcoin and go away from this?

[GODLIKE]

so the point is 'DO NOT MINING'? am i right?
so if that's true now is time to move on altcoins

I'm writing a guide on why altcoins are, practically all, fated to fail.
I'll make it short here for you: everybody is accepting BTC, NOT altcoins.
Everybody is building infrastructure on BTC, only some accept some altcoins.
Everybody is investing in BTC, only some put something into altcoins.
If you have some exceeding money to trash, buy some altcoins and hope that in the future at least one will step up, otherwise stay far from them.

mining bitcoins is bad, altcoin is bad.. so what's exactly you ask us to do?
trading with big loose? or stop thinking about bitcoin and go away from this?

I ask you nothing.
And even more: I am nobody, not economist, not guru, nothing.
It's just my opinion, but if you open your eyes a bit it's not too difficult to try to forecast this environment.
Just buy BTC with fiat currency and wait.
Not the right time for mining, not the right time for buying too many altcoins.
IMHO.

[philipma1957]

so the point is 'DO NOT MINING'? am i right?
so if that's true now is time to move on altcoins

I'm writing a guide on why altcoins are, practically all, fated to fail.
I'll make it short here for you: everybody is accepting BTC, NOT altcoins.
Everybody is building infrastructure on BTC, only some accept some altcoins.
Everybody is investing in BTC, only some put something into altcoins.
If you have some exceeding money to trash, buy some altcoins and hope that in the future at least one will step up, otherwise stay far from them.

mining bitcoins is bad, altcoin is bad.. so what's exactly you ask us to do?
trading with big loose? or stop thinking about bitcoin and go away from this?

I ask you nothing.
And even more: I am nobody, not economist, not guru, nothing.
It's just my opinion, but if you open your eyes a bit it's not too difficult to try to forecast this environment.
Just buy BTC with fiat currency and wait.
Not the right time for mining, not the right time for buying too many altcoins.
IMHO.

dear godlike  like your name.  it is a nickname  use for a close friend.

while  respect your opinion of buying coins (btc ) and holding them.  It is a one dimensional approach .

I best guess is do mining and hold coins.

In order to do mining you need cheap power.  So some guy in iceland at 5 cents a k-watt with an sp-30 doing  .5 watts a hash is in good shape.

well 2 antminer s-3's pulling 750 watts to do 1000 gh are better if the power is 3.5 cents a k-watt.

So small miners will survive if they are creative about power.

Does it mean steal power no it does not.  Here  are great uses for 2 s-3's

 http://www.lemproducts.com/product/refurbished-stainless-steel-dehydrator/refurbished-products

food dehydrator


http://www.wood-database.com/wood-articles/drying-wood-at-home/

kiln drying wood

those products spend the same power with out mining if scaled correctly.

So that means free power for your miners.

These are just a few ways to compete against a huge Iceland spot.

Another way is any free power source of more then 100 watts use gear to solo mine.

Cost = zero  chance of collecting small.  but the idle gear will not  make money. and mining for free it could get lucky.

Small miners will not die off.  Simply because they will adapt.  They just won't have a lot of the network.  Of course a 50ph plant in iceland would be a huge target for terrorism but that is another pair of sleeves so to speak.

[norgan]

I don't know about some of these calculators. My 230gh/s earns me around $4.5 us/day and I got over $30 worth overnight off p2pool.
Go have a look on my node (in sig) if you don't believe me. It's all there under stats and payouts.

[ThomasCrowne]

If your using anything less than 70+% minimum difficulty increase per month your fooling yourself at this point.  Though this difficulty jump won't be anything too huge, just watch what happens in another 2-3 weeks!

[ALToids]

I don't know about some of these calculators. My 230gh/s earns me around $4.5 us/day and I got over $30 worth overnight off p2pool.
Go have a look on my node (in sig) if you don't believe me. It's all there under stats and payouts.

With those numbers you
1) have free power
2) are getting incredibly lucky - $30 overnight, a 3.5TH Neptune can't even do that overnight.


Most people would not be able to follow in your footsteps - it's why everybody can't be a Warren Buffet.

[norgan]

I don't know about some of these calculators. My 230gh/s earns me around $4.5 us/day and I got over $30 worth overnight off p2pool.
Go have a look on my node (in sig) if you don't believe me. It's all there under stats and payouts.

With those numbers you
1) have free power
2) are getting incredibly lucky - $30 overnight, a 3.5TH Neptune can't even do that overnight.


Most people would not be able to follow in your footsteps - it's why everybody can't be a Warren Buffet.

1. yes, free power
2. yes p2pool has had good luck lately. there of course has been worse luck going back a week or so.

either way there is money to be made but if you are paying for electricity then you have to watch your bottom line closely. like I said the node is in my sig (i'm the 1minerxxx address) you can see the payments I have. that address is only used for my mining operations. no rented hash is used on that addy. ( I have other wallets to keep that separate).

[silversurfer1958]

Are we all forgetting the price of Bitcoin might be $100,000 in 5 yrs
Then it might be worth mining again.

[ALToids]

Are we all forgetting the price of Bitcoin might be $100,000 in 5 yrs
Then it might be worth mining again.

The experienced miners ignore the fiat value of BTC for the following reason:
Do you want to buy 100BTC @ $620 for a total of $62,000 and only have to worry about securing your coins for 5 years or
Do you want to buy $62,000 worth of mining equipment which would earn you 86BTC after 2 years with electricity costs

I'm pretty sure the first option makes more financial sense.  It's also easier to enter and exit.  Mining does have its benefits like generating anonymous coins, but that requires massive power and solo mining.