AMHash1: Cost-Effective Mining Contract

[plasma1010]

Do I need a gmail e-mail address to do Gauth ? Do you need offer Authy app for Iphone users ?

[drasted]

Do I need a gmail e-mail address to do Gauth ? Do you need offer Authy app for Iphone users ?

No other account is required. i.e. You don't need to "sign in" to Gauth.

[xhomerx10]

If bitcoin stays at US$350, the AMHash mining contract will end when the Network hashing rate hits 750 Ph/s - it would be nice to have a crystal ball so we know when that will be.

I cant tell you when but I can guarantee you that we will hit well beyond those speeds:



Consider ~0.7J/GH is achievable now and 0.5-0.2J/GH just around the corner (0.1 next year if you believe Bitfury, KnC or spondoolies),
Also consider that $400/TH is available today, and Spondoolies are talking of <$100/GH next next year

 Well once again I have to disagree on the validity of your chart so this time I have utilized the portion of your calculation which I am agreeable to and removed what I believe to be the erroneous portion of your calculation.  Electricity is used perpetually to run the mining equipment; when electricity costs = value of bitcoins produced, you are no longer making money - I agree with you on that point.  However, the 365 BE you refer to is not accurately implemented in your charts as you have not factored in time and more importantly difficulty with respect to time.  You have already admitted as much in saying "I cant tell you when..."

 Here is your representation of network speed with respect to electricity cost only, utilizing a logarithmic x-axis.  Obviously this chart is only useful for indicating when it's time to turn off your already-purchased miners (unless you heat your dwelling with electricity).  In this model, Bitcoin value is set to US$400 and block reward is 25BTC and zero electricity cost is removed as the graph goes asymptotic:







 

[Puppet]

The hardware represents an investment. You have to write that off and you cant just ignore that. You cakculate it as if people would buy $10000 prismas  today. Or buy amhash at any price. If i already had a $100000 prisma i wouldnt unplug it as long as it earns more than it costs in electricity, but i wouldnt have bought one and no one is going to invest in hardware that cant break even on its investment even if its operationally profitable

[xhomerx10]

The hardware represents an investment. You have to write that off and you cant just ignore that. You cakculate it as if people would buy $10000 prismas today. If i already had a $100000 prisma i wouldnt unplug it as long as it earns more than it costs, but i wouldnt have bought one and no one is going to invest in hardware that cant break even.

 I have no disagreement with you on that point.  My argument with your original chart is with the implementation of BE for up-front miner cost.

[Puppet]

You agree the cost has to be included and thus you remove it in your chart?
One can argue over what a reasonable break even period is (i assumed 1 year which is probably too long), and how much the hardware really costs, but its not never and nothing

[Puppet]

Consider zero electricity cost. According to your chart, network would go to inifinty and an individual miner would be willing to pay any price for hardware. Dont you see thats nonsensical?

[xhomerx10]

Consider zero electricity cost. According to your chart, network would go to inifinty and an individual miner would be willing to pay any price for hardware. Dont you see thats nonsensical?

 Yes I do Puppet and I wish you could see how your rudimentary implementation of miner costs into that chart is as well.  The chart is only of value to miners currently in service with respect to when to shut them down.  Nobody should buy a miner based on either chart.

[Mabsark]

Update

1. We try to promote AMHash on other platforms, we are taking care of platform safety, thanks for people's kindly remind.

Is that a joke? You've done absolutely nothing at all with regards to promoting AMHash. It's us AM shareholders that are promoting AMHash while you sit on your arse doing nothing and get paid for it out of what should be our dividends. Here's how incompetent you are. You keep going on about AM needing to sell hash power and yet you keep removing the AMHash shares from sale so that nobody can actually buy them and you refuse to do any promotion.

"Hey, let's post about this cloud mining service in the securities thread, because day-trading speculators will surely want to buy cloud mining which is basically guaranteed to fall in price as difficulty increases. Let's ignore the fact that everyone else running a cloud mining service is posting about it in the "Services" and "Service Announcements" sub-forums because that's the obvious and logical place to post such things."

Seriously, if there's no official post about AMHash in the "service" sub-forums I mentioned (where all the other cloud-mining services are) then I'll have to draw the conclusion that you are deliberately working against the interests of AM shareholders.

Also, in the initial post it links to AMHash1 as the place to buy AMHash shares. Yeah it is, but none of those shares belong the AMHash, they belong to customers who are selling them, therefore no profits for AMHash, but plenty for Havelock.

[Puppet]

Yes I do Puppet and I wish you could see how your rudimentary implementation of miner costs into that chart is as well.  The chart is only of value to miners currently in service with respect to when to shut them down.  Nobody should buy a miner based on either chart.

What you fail to grasp is that whole point of my chart is trying to predict where difficulty is headed, given certain assumptions. Not to calculate when miners are no longer operationally profitable, you dont need a chart for  that (and certainly not one without BTC value on one of its axis). You just calculate the BTC denominated electricity cost of your miner, and voila.

[Sine(X)]

4. Customers who find the wrong numbers between we supplied and your ordered on Hashie.co please report to us, if it's proved by our investigation, we will:
1) Reward 0.1BTC to customer who reported to us;
2) Stop cooperating with Hashie.co

So, you also don't trust Hashio.co  Good job! ))

[xilatleo]

New dividend payout is 0.00000784. Lower day by day. Any idea why?

[fhh]

yes

BTC/USD is getting down so the fee is getting higher in BTC

[Mabsark]

New dividend payout is 0.00000784. Lower day by day. Any idea why?

Beside the exchange rate affecting the maintenance fee, that's how mining works. If you had 1 GH/s and the network hash rate was 100 Gh/s you would have 1% of the network hash rate. Around 3600 BTC are mined each day, so if you controlled 1% of the network you would receive 1% of that 3600 BTC. Now if the network increased to 200 GH/s you would only control 0.5% of the network hash rate and would receive 0.5% of the 3600 BTC.

So, if the network hash rate increases, your payout decreases.

[Swimmer63]

New dividend payout is 0.00000784. Lower day by day. Any idea why?

Beside the exchange rate affecting the maintenance fee, that's how mining works. If you had 1 GH/s and the network hash rate was 100 Gh/s you would have 1% of the network hash rate. Around 3600 BTC are mined each day, so if you controlled 1% of the network you would receive 1% of that 3600 BTC. Now if the network increased to 200 GH/s you would only control 0.5% of the network hash rate and would receive 0.5% of the 3600 BTC.

So, if the network hash rate increases, your payout decreases.

Interestingly, it appears the hash rate is dropping.  Difficulty is at 40.3B and while there is still 12 days before the next revision, if it happened today it would drop to 37.1B.  Yesterday the estimate was 38B.  Not sure what is going on, and it can certainly change, but this is the first time I have seen such a drop.  Even in an estimate.

[Mabsark]

New dividend payout is 0.00000784. Lower day by day. Any idea why?

Beside the exchange rate affecting the maintenance fee, that's how mining works. If you had 1 GH/s and the network hash rate was 100 Gh/s you would have 1% of the network hash rate. Around 3600 BTC are mined each day, so if you controlled 1% of the network you would receive 1% of that 3600 BTC. Now if the network increased to 200 GH/s you would only control 0.5% of the network hash rate and would receive 0.5% of the 3600 BTC.

So, if the network hash rate increases, your payout decreases.

Interestingly, it appears the hash rate is dropping.  Difficulty is at 40.3B and while there is still 12 days before the next revision, if it happened today it would drop to 37.1B.  Yesterday the estimate was 38B.  Not sure what is going on, and it can certainly change, but this is the first time I have seen such a drop.  Even in an estimate.

This spreadsheet shows the past difficulty changes.. The network has decreased a few times.

[rudi]

Interestingly, it appears the hash rate is dropping.  Difficulty is at 40.3B and while there is still 12 days before the next revision, if it happened today it would drop to 37.1B.  Yesterday the estimate was 38B.  Not sure what is going on, and it can certainly change, but this is the first time I have seen such a drop.  Even in an estimate.

Maybe someone's farm burned down again?

[Swimmer63]

New dividend payout is 0.00000784. Lower day by day. Any idea why?

Beside the exchange rate affecting the maintenance fee, that's how mining works. If you had 1 GH/s and the network hash rate was 100 Gh/s you would have 1% of the network hash rate. Around 3600 BTC are mined each day, so if you controlled 1% of the network you would receive 1% of that 3600 BTC. Now if the network increased to 200 GH/s you would only control 0.5% of the network hash rate and would receive 0.5% of the 3600 BTC.

So, if the network hash rate increases, your payout decreases.

Interestingly, it appears the hash rate is dropping.  Difficulty is at 40.3B and while there is still 12 days before the next revision, if it happened today it would drop to 37.1B.  Yesterday the estimate was 38B.  Not sure what is going on, and it can certainly change, but this is the first time I have seen such a drop.  Even in an estimate.

This spreadsheet shows the past difficulty changes.. The network has decreased a few times.

Nice chart Mabsark -
Just some quick averages -
Since the difficulty hit 10B in May, the average increase has been 10.86% in difficulty.
Since July the increases have averaged 8.45%.

[Mabsark]

Nice chart Mabsark -

It's not my chart by the way, it's from the Difficulty page of the the bitcoin wiki. Credit belongs to Adrian and Stephen Gornick.

[Puppet]

Im taking bets difficulty wont go down even once this year.