AMHash1: Cost-Effective Mining Contract

[HarmonLi]

Well, we've seen far worse increases back in 2013 when all the first ASICs hit the market. If you ignore the development of the last week or so, we've practically seen a stalling of the hash rate growing. Also it can only continue to grow in this way if the BTC recovers at least to a certain extent.

I certainly hope you´re right. But wasn´t the yield much higher

back there in 2013 ? And of course the cost of equipment and

mining contracts. Now it´s much closer to zero. One GH costs

typically what .001 plus or minus ? Unless difficulty levels off

that zero can approach pretty quickly

Well, it depends... The BTC price is pretty low today. If we saw prices of $1000 again, the costs of running the cloud mining would be substantially lower, and thus the yield per GH/s would be higher -> If the BTC price goes up, the AMHash contract gives you a higher yield.

[galdur]

Oh my dog, this is the first time I log on with my friggin phone. No wonder they're going crazy. The truncated columns and the spacing is a disaster. I promise to stop it immediately. Best of luck, g

[galdur]

Well, we've seen far worse increases back in 2013 when all the first ASICs hit the market. If you ignore the development of the last week or so, we've practically seen a stalling of the hash rate growing. Also it can only continue to grow in this way if the BTC recovers at least to a certain extent.

I certainly hope you´re right. But wasn´t the yield much higher

back there in 2013 ? And of course the cost of equipment and

mining contracts. Now it´s much closer to zero. One GH costs

typically what .001 plus or minus ? Unless difficulty levels off

that zero can approach pretty quickly

Well, it depends... The BTC price is pretty low today. If we saw prices of $1000 again, the costs of running the cloud mining would be substantially lower, and thus the yield per GH/s would be higher -> If the BTC price goes up, the AMHash contract gives you a higher yield.

If the BTC price goes up. How in the heck can it go up given that the marketplace is self regulated and decentralized and a bloody libertarian´s wet dream and therefore totally out of control, crime ridden and bereft of pretty much all security, confidence, interest and therefore also of what it would take for it to go up, that is volume. There is no volume. it´s paradise for short sellerts. bitcoin isn´t going anywhere but down until confidence and trust in its marketplace is firmly established.

[elasticband]

bear trapped 

[galdur]

Anyway, since mining is such a great thing that those big mining operations expand their operations at an exponential rate the least they could do is support the price of their product. I mean, it looks kind of suspicious when production capacity grows the more the price of product tanks. At least it would in the real world.

[elasticband]

weekend pump incoming, bitstamp resumes trading in 55 minutes.

[galdur]

bear trapped 

It´s just shorts covering for the moment. Nothing goes straight down. Or up.

[galdur]

weekend pump incoming, bitstamp resumes trading in 55 minutes.

Hope the pump lasts several days.

[elasticband]

weekend pump incoming, bitstamp resumes trading in 55 minutes.

Hope the pump lasts several days.

That's what your significant other said 

[galdur]

weekend pump incoming, bitstamp resumes trading in 55 minutes.

Hope the pump lasts several days.

That's what your significant other said  

Nobody takes those two bit-fly by night exchanges seriously. At least no meaningful capital. So, there´s no volume. Today, maybe 20 million dollars over 24 hours. Best days, maybe 50. Microscopic.

Compare that to

FB $3 B average vol per session

GOOG 1 B

AMZN 1.5 B

AAPL 5.5 B

to name a few wonderdogs in the stock market.

And since this is a currency. Forex turns over like 5 trillion dollars per day.

[galdur]

Well, it keeps dropping.

Estimated Next Difficulty: 44,205,535,534 (+8.77%)

If they can get it down to 5% I´ll be pretty content.

[DARKANGEL6415]

Total hashrate has tanked down to 299,221,090 GH/s, was like 320

a few days ago. Since the rate was 290,919,288 at the last adjustment

on Dec. 30 I guess this means around 3% diff increase but not

Estimated Next Difficulty: 44,750,738,113 (+10.11%)

if these figures can be trusted, that is.

https://bitcoinwisdom.com/bitcoin/difficulty

i really do not want any difficulty to go up, but people say the difficulty needs to go up for price to go ....... still waiting . I will gladly take the 3% increase instead of the 10% any day of the week lol. The only problem is where do you see the 3% i just went to link you posted and i see on the site says 8% 

[galdur]

Total hashrate has tanked down to 299,221,090 GH/s, was like 320

a few days ago. Since the rate was 290,919,288 at the last adjustment

on Dec. 30 I guess this means around 3% diff increase but not

Estimated Next Difficulty: 44,750,738,113 (+10.11%)

if these figures can be trusted, that is.

https://bitcoinwisdom.com/bitcoin/difficulty

i really do not want any difficulty to go up, but people say the difficulty needs to go up for price to go ....... still waiting . I will gladly take the 3% increase instead of the 10% any day of the week lol. The only problem is where do you see the 3% i just went to link you posted and i see on the site says 8%  

Now the hashrate is slightly higher than on 12/30, +0.5%  or so but i guess it´s still going to be +8% diff

What a friggin nonsense. I guess it´s just another bitcoin scam. Nothing to see here, stay calm it´s just business as usual. Turn the equipment up like crazy but when a few hundred blocks are left they turn it off, ending flat as hashrate is concerned but with 8% diff. increase, scamming 8% off customers´payouts next period.

[galdur]

It better bloody drop to 3 to fucking five percent by Monday or I´m going with this story where it gets meaningful attention. I very much doubt that would bolster any the tanking confidence in bitcoin and its marketplace.

[Mabsark]

What a friggin nonsense. I guess it´s just another bitcoin scam. Nothing to see here, stay calm it´s just business as usual. Turn the equipment up like crazy but when a few hundred blocks are left they turn it off, ending flat as hashrate is concerned but with 8% diff. increase, scamming 8% off customers´payouts next period.

LOL, look up mining variance.

[galdur]

Hashrate 12/30 290,919,288 GH/s

now 289,753,185 GH/s

On planet Bitcorn this results in

Estimated Next Difficulty:   43,968,106,968 (+8.19%)
Adjust time:   After 360 Blocks, About 2.4 days

Look, the apologists in any cult have all sorts of excuses but unfortunately that doesn´t work with the common man on planet Earth as has very well been reflected in cratering confidence in bitcoin and its marketplace.

[Dexter770221]

Diff prediction is dropping slowly, but two days left. It definitely will be obove 5%, my quess is 6.5%. Bitstamp started trading. Price dropped a little bit. I think we may see divs below 600 mark...

[galdur]

Diff prediction is dropping slowly, but two days left. It definitely will be obove 5%, my quess is 6.5%. Bitstamp started trading. Price dropped a little bit. I think we may see divs below 600 mark...

Shouldn´t AMHash 4 be arriving any day now? Two weeks ago I thought it would be at .0008 but now it´s looking more like .0007ish. It´s low but still not that close to zero. Thoughts ?

Let´s see, the mining industry fabricates a few percent in bitcoin difficulty twice a month, bitcoin tanks  at a 50% rate every six months your next cloud mining contract will cost .00000000  sometime next year ?? I´m probably way too optimistic as usual.

[skuser]

Hashrate 12/30 290,919,288 GH/s

now 289,753,185 GH/s

On planet Bitcorn this results in

Estimated Next Difficulty:   43,968,106,968 (+8.19%)
Adjust time:   After 360 Blocks, About 2.4 days

Look, the apologists in any cult have all sorts of excuses but unfortunately that doesn´t work with the common man on planet Earth as has very well been reflected in cratering confidence in bitcoin and its marketplace.

You keep comparing apples and oranges. There is no central evidence of real hashrate, it can be only computed backwards looking at speed how quickly have been new blocks found. For example in the last half hour 7 instead of 3 blocks have been found. (blocks 338325-338331 https://blockchain.info/blocks/), so they have been found twice as fast as they 'should' . If I now compute hashrate based on these last 7 blocks my result will be 670 PH/s(...). If I use last 100 blocks the result will be different, if 500 it will be again different. Only important result is based on 2016 blocks according which is the difficulty adjusted. And only thing important is how fast compared to set constant (10 minutes/block) the blocks have been mined on average.

You can compute hashrate easily yourself if you think you're being fooled by websites, that formula is public:
difficulty*2^32/600/10^15 (the result will be in PH/s)
this will give you starting hashrate which was at time of difficulty adjusting, in our case:
40640955016*4294967296/600/10^15=290.9 PH/s

Now you can just compare avg time of found x blocks against 10 minutes average and you'll get 'current' hashrate. In my example, last 7 blocks have been found within 30 minutes, which means 4.3 min per block, which is 10/4.3=2.3 faster than it should be so current hashrate is 2.3*290.9=670 PH/s!!! End of the world!

[galdur]

Hashrate 12/30 290,919,288 GH/s

now 289,753,185 GH/s

On planet Bitcorn this results in

Estimated Next Difficulty:   43,968,106,968 (+8.19%)
Adjust time:   After 360 Blocks, About 2.4 days

Look, the apologists in any cult have all sorts of excuses but unfortunately that doesn´t work with the common man on planet Earth as has very well been reflected in cratering confidence in bitcoin and its marketplace.

You keep comparing apples and oranges. There is no central evidence of real hashrate, it can be only computed backwards looking at speed how quickly have been new blocks found. For example in the last half hour 7 instead of 3 blocks have been found. (blocks 338325-338331 https://blockchain.info/blocks/), so they have been found twice as fast as they 'should' . If I now compute hashrate based on these last 7 blocks my result will be 670 PH/s(...). If I use last 100 blocks the result will be different, if 500 it will be again different. Only important result is based on 2016 blocks according which is the difficulty adjusted. And only thing important is how fast compared to set constant (10 minutes/block) the blocks have been mined on average.

You can compute hashrate easily yourself if you think you're being fooled by websites, that formula is public:
difficulty*2^32/600/10^15 (the result will be in PH/s)
this will give you starting hashrate which was at time of difficulty adjusting, in our case:
40640955016*4294967296/600/10^15=290.9 PH/s

Now you can just compare avg time of found x blocks against 10 minutes average and you'll get 'current' hashrate. In my example, last 7 blocks have been found within 30 minutes, which means 4.3 min per block, which is 10/4.3=2.3 faster than it should be so current hashrate is 2.3*290.9=670 PH/s!!! End of the world!

Yeah, and the fact that they balloon the hashrate and then turn it down when a few hundred blocks are left resulting in a flat rate but increased difficulty is not any kind of manipulation in your opinion, right ?