I am out of the mining game :(

[Agent Crypto]

Well guys

The new 3rd Gen Spondoolies should be hitting the shelfs at xmas hopefully at 15Th/s a machine with a 4 x Power Efficiency rating from SP35

I am currently trying to pull together a consortium of miners who want to carry on mining

I have a few 14ft ISO containers I am converting like the Cryptokube with 36 x Spondoolies in each container.

I have 3 phase power and broadband directly to each container.

Starting with 1 Kube at a cost of £147,750 to setup and a ROI of under 11 months. I would be paying out to Bitcoin addresses Weekly a percentage share to each investor. All financial forecasts and budgets would be available to share online through SharePoint. I am a trading business so this is all above and beyond legit. I work as a Project Manager in IT and love Bitcoin Mining, I also love Excel so I find great pleasure in creating forecasts that are deadly accurate.

This mine could create up to 5 Bitcoins per day and this is only the beginning if I can get funding together for another Kube then it will happen. Continuously building on this will be a tremendous achievement and a first in Scotland.

I will be getting sheeting the outside of the container in Solar Panels (not that they will do much but every bit counts)

Got a good deal on the power through ecotricity.co.uk they have also offered to help with the Solar panels too. All there electricity comes from Hydro, Wind and Solar power.

I have been in touch with Spondoolies and been put on a mail list as soon as the new miners are up for sale. So currently at Seeding stage for this.

All investors will be acquiring a SHARE of the company which will be a Limited company based in Scotland. Obviously we will have to pay TAX as and where necessary.

I must say the weather in Scotland is perfect for this especially in a ISO Container.

If you are interested and have cash to invest in a PRIVATE MINE

I am also looking for Android Code developers to help build a App/Monitoring for android phones similar to the Genesis Hive app they use.

Any suggestions or ideas let me know

[ph.amracyshop]

High electricity bill is one of the main problem.

[philipma1957]

Well guys

The new 3rd Gen Spondoolies should be hitting the shelfs at xmas hopefully at 15Th/s a machine with a 4 x Power Efficiency rating from SP35

I am currently trying to pull together a consortium of miners who want to carry on mining

I have a few 14ft ISO containers I am converting like the Cryptokube with 36 x Spondoolies in each container.

I have 3 phase power and broadband directly to each container.

Starting with 1 Kube at a cost of £147,750 to setup and a ROI of under 11 months. I would be paying out to Bitcoin addresses Weekly a percentage share to each investor. All financial forecasts and budgets would be available to share online through SharePoint. I am a trading business so this is all above and beyond legit. I work as a Project Manager in IT and love Bitcoin Mining, I also love Excel so I find great pleasure in creating forecasts that are deadly accurate.

This mine could create up to 5 Bitcoins per day and this is only the beginning if I can get funding together for another Kube then it will happen. Continuously building on this will be a tremendous achievement and a first in Scotland.

I will be getting sheeting the outside of the container in Solar Panels (not that they will do much but every bit counts)

Got a good deal on the power through ecotricity.co.uk they have also offered to help with the Solar panels too. All there electricity comes from Hydro, Wind and Solar power.

I have been in touch with Spondoolies and been put on a mail list as soon as the new miners are up for sale. So currently at Seeding stage for this.

All investors will be acquiring a SHARE of the company which will be a Limited company based in Scotland. Obviously we will have to pay TAX as and where necessary.

I must say the weather in Scotland is perfect for this especially in a ISO Container.

If you are interested and have cash to invest in a PRIVATE MINE

I am also looking for Android Code developers to help build a App/Monitoring for android phones similar to the Genesis Hive app they use.

Any suggestions or ideas let me know

you are new with 1 post by now most of us are tired of posters like you.

My suggestion is prove you are real.

 Use an escrow  take a cc take paypal.  have guy from sp-tech quote your post . 

The big problem is even if you do all that plus really set the gear up in a container you could attach a truck and disappear into the night.

[negafen]

Which coin still give positive return?

[RichBC]

Got a good deal on the power through ecotricity.co.uk they have also offered to help with the Solar panels too. All there electricity comes from Hydro, Wind and Solar power.

When searching for lower cost ellectricity I looked at ecotricity. Their domestic Tariff is headlined with.

We have one price - All of our customers are always on our latest best price – no matter when they joined us and regardless of how they pay

and is currently 20 Cents / KWH, one of the more expensive in the UK.

Of course their Business customers may get a better deal, but if I was them I would not be that happy with my nice green energy being blasted out into the Scottish Countryside.  

Rich

[smith coins]

Op do you want a motivation about the mining industry?
Today i have watched a video where is mentioned a mining farm in china.
And guess what? they mine 100 Bitcoins a day, for more details here is the youtube link: https://www.youtube.com/watch?t=535&v=K8kua5B5K3I

[vengeful]

soon it won't be possible for an average bitcoiner to mine bitcoins... sorry to hear that you're out of mining game.
don't think that there is a way to mine bitcoins except huge mining farms... unless a revolutionary mining rig comes with economical electricity input and considerable mining power.

[Searing]

 Here you go guys...get an SP50 at 50k usd (probably) and 13,740 WATTS at 110 PH plus minus 10% in a 11 u rack

https://bitcointalk.org/index.php?topic=521520.msg12501293#msg12501293


their blog announcement

http://www.spondoolies-tech.com/blogs/news/54091269-spondoolies-tech-reveals-a-glimpse-into-the-future-of-transaction-verification-services-hardware

 11 PH miners sh*t and spondoolies puts this (at cost) in their data halls and bitfury has their chips 14nm is it? hitting their data halls in a month

Difficulty is going to go more then crazy ...I mean jeez......

This could be BEYOND interesting.....boy when the Fat Lady sings about the end of home mining ..this will probably be the cord that strikes home miners in the heart

By  the by anything less then a 1 year warranty and they are not serious really about selling these to the public..this puppy dies and you can't get it fixed that is
one big lump of 50k expensive space heater let me tell you

Let the battle for centralization to maybe 4 or 5 big asic makers and their data halls commence!!! Then we in 2018 or so read about the 'conspiracy' 'shape' the
btc universe to their will (imho a flat difficulty curve at a high level no one else can jump into mnfg or data hall wise at that point in time and thus the move
to 'encourage' the btc devs etc to make 'transaction fees' mandatory and they can clean up with flat difficulty and fees cutting up the btc mining pie 4 or 5 ways)

11 PH miners for BTC it is gonna get weird quick

heh (such a cynic)

[Amph]

Which coin still give positive return?

probably not sha256, unless you have a s7 and very good electricity, i wouldn't mind diff too much, what it matter is efficiency

[Sir_lagsalot]

I'm really split between buying a card and quitting ;~;  what, with the btc per block halving every know and then. Another question.

Why do blocks halve the reward every 210000 blocks (I think) ?  Is it too replicate the idea of real, physical mining, where a resource gets scarcer and scarcer?

[Bitsaurus]

I'm really split between buying a card and quitting ;~;  what, with the btc per block halving every know and then. Another question.

Why do blocks halve the reward every 210000 blocks (I think) ?  Is it too replicate the idea of real, physical mining, where a resource gets scarcer and scarcer?

It extends out the miner subsidy as the value/strength of bitcoin grows. If it stayed at the original 50 and continued all 21 million would be mined before 2020.

[Blawpaw]

So im out of the mining game.

Getting asics importet from china is too expensive -.-
Electricity is too expensive in my country 0.14$/kwh -.-
and my block erupters isnt making me anything.

this game have only been a waste of money so far.


GL on your mining guys dont make the same mistakes as i did.

A lot of people is dropping out the mining game. Which reminds me that this can, in a long time run, have a negative impact on the network decentralization. As more miners drop out, bigger companies are taking over mining. So my question is: will this be the cause for a 51% attack?

[YuginKadoya]

Hey orcanice That's alright dude their is a lot out their like you so much money investment
in the mining industry but never quits, sometime you gotta fall or fail in what you are doing but
don't lose hope with it if there is no sacrifices there are no success! you may fail a hundred times
but If you succeed it is a million times more enjoyable if you push yourself to it! keep it up dude!
just an advice. 

[Corsa1r]

Me too. been out for a long time and only mined coins i thought was worth it. Now dismantling rigs and moving on to something that actually gives money. Like a real life job o.O

[YuginKadoya]

Me too. been out for a long time and only mined coins i thought was worth it. Now dismantling rigs and moving on to something that actually gives money. Like a real life job o.O

Maybe the odds are not right for you to mine yet, the experience in failing is great when you realized that
you had invest so much money to this then you didn't reach ROI,
I feel you man! 

[wildduck]

at this moment i`m mining two coins one is eth and the other one is leocoin.

[mathgal23]

I look forward to seeing more ideas for PoW algorithms that do not so heavily favor those with free or cheap electricity

[bitbabba]

I was in the same situation and then I joined cloud mining services!! And now I am happy!

[Amph]

I look forward to seeing more ideas for PoW algorithms that do not so heavily favor those with free or cheap electricity

it won't change anything, because the diff will simply raise too much until the ratio between the earning and electricity would be barely profitable

it was the case for every new proclaimed new coins with cool and fresh algo, that make your mahcien consume lower, like fresh-coin

[YuginKadoya]

I was in the same situation and then I joined cloud mining services!! And now I am happy!

What Cloud mining site are you? and there is a risk of fraud in cloud mining and do you profit with just that?
and there are Contractual warnings that mining operations may cease depending on the price of bitcoin,
why are you happy with lower profits? you are the one to cover for the cost after all?