Topic: $2 million+ bitcoin mining facility launched in Iceland - page 2. (Read 11170 times)

You have a point.  The transition to ASIC's scared me just for this reason.  Bitcoin is going through a period where security has declined substantially since the days of purely GPU mining.  It's changing though and I feel that it will diversify further, just give it some time.

If Bitcoin survives this, it's only going to strengthen it in the long run.

Interesting. Thank you, nice find!

Estimate 600 GH/s for B1 Jupiters and we're talking about 60 TH/s in KnC hardware for 100 units.

Our co-op only has about 8 TH/s online at the moment, with 4 Jupiters online as part of that hashrate. Interesting to note that our tiny co-op of only 4 team leaders that are working this co-op part-time, has 74 TH/s on order with Black Arrow Prosperos alone, at a fraction of this $2MM, albeit in late February.

That's very interesting that he brought up points that has already affected our future planning for our third miner hosting facility which is likely going to be located next to a major river somewhere for power/cooling. I'm guessing that mining power will necessarily evolve to pockets of:

- friendly BTC/ALT stance by govt.
- friendly business stance by govt.
- super cheap electricity
- ample water (which is another one of the 21st century's forms of "Gold") and or frigid conditions

He has a head start on us, but we are catching up with about 92TH/s of nominal hashrate on order so far, because our prices beat the pants off of Cloud Hashing prices.

Then again: as the co-op founder, I'm a bit biased in the matter.  

This hashrate number doesn't include the miners being hosted or to be hosted with my business partner at Miner Hosting LLC, bobsag3, who is also one of our co-op leaders.

Disclaimer: I am his direct competition and instead of being former bankers that helped wreck the world economy, I/we are essentially GB forum vets that banded together to TCB and take care of customers together (apologies if you're a reformed world economy destroying banker).  

I just keep thinking that the higher the efficiency, the power and cost of every new generation of equipment, the fewer miners will be out there because they can't compete. This seems like we will soon know where the Bitcoin mining hubs are - 15% of the network is expected to be in one place in Iceland according to this report. Others my follow.

When you know where the majority of the hubs are, you stop having a true p2p system and instead you have something where governments can go and unplug the network. That would be ok if there are enough networked pc's out there to take over, but what if the majority switch off their machines, sell their equipment, etc?

I'm not an expert in these things - I just think it looks a risk factor for the future stability and prosperity of the currency.

Of course I was being a bit sarcastic.

I'm wondering what you mean by the fully diverse p20 nature of the system.  Adoption?

I guess he means price. That was hard work, should have put an ice pack on my head while thinking about it.

My 2 cents worth - Difficulty increases, but so does something else - the fully diverse p2p nature of the system.

I am going to guess network hash rate? 

I am going to guess network hash rate? 

That's fairly narrow minded.  Diff increases, but so does something else.  Think hard enough and it might come to you.

They'll barely get a ROI given that the difficulty will soon rise again. Would have been better to just buy $2 million of coins from an investor.

You have great taste, possibly the best quote in the game.