Topic: [4+ EH] Slush Pool (slushpool.com); Overt AsicBoost; World First Mining Pool - page 308. (Read 4382840 times)

There is the new S3 coming out in a few days but all depends what price they decide on, I've had my S1 since the end of march and still have a way to go to break even.

Just as well I mine for fun  

  Thanks for all the quick responses - though not what I wanted to hear!!!

Just bought Antminer S1 for £250.  Currently mining at 0.007682/day, though there have been two v long blocks on Slush this week. With elec costs here in UK of £1/day I reckon that gives ROI of 154 days ignoring any increase in difficulty or change in £/BTC.

As you say, more entertaining than profit earning (and talking to a nice bunch of guys like you!).

But I still ask the question - what should I upgrade to , to make some money? 

Couldn't find any info (in English) on Xia-T-Hash!  Anyone any experience of Miners Cube?

and then, I try mining in BTCGuild by mining_proxy, it runs at 1000+Ghash normally, and proxy shows difficulty 1024. so the problem may be from pool.

To your above point that is my issue. I see it different then above..IF I can buy coin at $605 now and hold it and my only costs is (in usa for buying coin) is 20%  on capital gains if I sell it...well even if $$$ to BTC prices increase rapidly..you still would be better off buying the coin as an example..I think when I ordered my miner in JULY 1st  (knc 550gh jupiter) the price of coin according to coinbase was $91.70 usd...now on my jupiter i expect end of life for it to make me ALMOST../HOPEFULLY exactly 50 btc... that same $7,131.80 usd for the unit say $7500 with the external corsair power supply ...menards table ..some small fans etc

so $7500.00 usd directly to coin would have gotten me at $91.70 (www.coinbase.com charts) 81.78844056706652 BTC

now I'm in a different kettle of fish US miner..and had troubles (bank messed up 6x bank order set off alarms had to prove I was legit
thus had to be a bitcoin biz and show them tax forms) anyway in USA with 2013 IRS guidelines I pay 25% on income from mining like any other income I make (sucks...damn did not stay hidden till laws are tweaked) but on the other hand I can depreciate equipment..thus
I have equip this year as well for equip depreciation reasons ..but for a normal miner in the usa ...it makes no sense to mine if they are gonna tax you 25% on what you make mining (part of your gross income ie 25% soc sec fed state tax etc) and again you have to hold the coin for 1 year and 1 day (they consider it land) or 46% capital gains tax..and if more then a year you guessed it 20% capital gains tax just like you bought the coin direct

so even outside usa ....makes sense just to buy the coin direct..there may be a 'lag' where you would make more coin...but that fades imho...this miner is gonna have a hard time plunking 7500 bucks down for a miner next year that will make probably End of Life (fall 2015) say 9 coin before elec etc ..even if coin is 1k or 2k still seems too much of a chance to take with difficulty rising esp by then

again ... my situation is different ...but even I'm pretty modest this year on equip and next year will be more so..if not for my situation i'd simply make modest amounts buy on www.coinbase.com and hold....btc price has to follow difficulty and equip costs up or the whole thing goes plunk btc world in imho (i suppose it could just go sideways for a while) but still....I think I'm out of the running as a serious home miner by middle of 2015 at best

Searing

In the UK lots of people have fitted solar panels to their roofs, this gives then free electricity and a pay back from the national grid so they can probably run miners at zero electricity cost. With zero power costs mining makes perfect sense, even at these increased difficulty rates.

For the rest of us that have to pay full price for our power the maths is a lot more disturbing; equipment cost - power usage leaves a break even point somewhere over 12 months, but as the difficulty increases and more hashing power is available this can end up being 3 years or even never. So why then would companies and individuals spend thousands on the latest kit, do they know something we don't?

We all know that power prices won't be coming down anytime soon so that is a fixed cost, however the latest kit is offering 500GH's for the same power burn as 200GH's, this means that the new kit will definately have a a lower running cost per GH/h, that's one good reason to buy new.

The second point seems to be the big gamble, currently mining is making small returns and then only with the right equipment, but then Bitcoins (BTC) are trading at $605 each, now if BTC prices increase rapidly, as we have already seen, then people mining will make a killing. It is important to remember that once the price goes up it is too late to purchase any equipment as by the time you get it the price may well have gone down again.

Currently if your into BTC then you have a choice either plough all of your spare money into BTC and hope they go up or plough it all into hardware and hope they go up!

Say you purchase kit at 1TH/s for £5,000 (if that is even possible), at the end of 12 months you will probably have made 10BTC and paid the equivilent of 1BTC in power costs. So if 1BTC equals £360 then you have made a loss but if 1BTC went up and was worth say £600 then you have hit a profit in the first 12 months and you can still mine for more coins until the equipment is out of date (over 3 years you will probably see up to £6,000 in profit). Now contrast that with buying BTC put £5,000 into BTC today and you will get about 14BTC wait for it to go up to £600 per BTC and cash in and you have made a pure profit of £3,400 thats it, you have cashed in and there is nothing more to make.

There are pro's and con's for both ways but remember with BTC every option is a gamble, and you should never gamble with money you cannot afford to lose. Please don't should if i got the equipment costs wrong, at this stage I am unsure as to what a 1TH/s system will cost, the costings came from the bitcoinx.com profit calculator, price speculation is all mine so if you think I have got it wrong please feel free to criticise (bear in mind I don't think we will know the true price for BTC this year until after the US have held their auction of seized BTC).

none that I know of off hand you are better off just buying coin at this point imho....hate to say it i like mining...but....have an sp30
coming and as far as I can tell will just ROI if I would have gotten bitcoin vs the equip/a/c *summer usa* and elec costs 15c kwh

www.coinbase.com seems my best option for right now.....trickle the money in rather then taking bets with big chunks of USD on the
next big thing

maybe I will experiment with under 1k units for fun but the 8k -15k equip buys are 'toast' imho

so likely result for me is getting that 200amp service vs 100 amp service and maybe central air (heh) (any justification to stop 20/20
hindsight I shoulda/coulda bought coin instead of equip)

but the 'denial' seems to be clearing in my mind have a hard time seeing any major equip purchases next year

feel free to prove me wrong again I like mining...

Searing

So what kit can I buy right now <$5k that will get me a reasonable ROI on capital outlay taking into account electricity costs?

1024, but the mining_proxy.exe shows about 30.

isn't that .exe a bridge for the old getwork only units?

whats your difficulty settings mate?

I have got a Xia-T-hash ASIC Machine, just like this:
http://www.btcgt.com/goods.php?id=8

it can mining in slush by "stratum+tcp" normally that is with 1000+Ghashs hashrate,
but by "mining_proxy.exe", it only get a 19+Ghashs hashrate, and the ASIC Machine's Control Panel shows it runs in 1000+Ghashs.
so what is the matter, how to make it runs Fully devoted by "mining_proxy.exe".

Hopefully Slush pool didn't get "Mr. Block-With holder-Miner" that has been in the news lately who was blocked/banned? from mining with Eligius, at least with their current IP and wallet info. Who knows really. I would like to think the slush team monitors the pool for any and all sorts of activity.

edit: woot! just found a block! Only 22:06:39 long too! Considering the recent change in difficulty, it could have been worse. The pool is going to need any extra hash power it can get. Keep adding hardware! MOAR hardware! lol
Happy mining!

Putting those s2's to good use 

Where's the real screen!

Yup. Mine dropped aswell

holy crap, my estimated payout went from .0073 down to .0042 in the matter of hours.

That's because of the current 16+ hour round ... add to that 18+ hour two days ago ... close to 3 blocks per day, which makes us close to 2% for the last 3 days

The good old days, when a second hand P4 could turn a profit. 

Lets dream about CPU BTC mining profitability :-)

Most likely the extra hashpower is from failovers BUT yes, those mining here SHOULD increase their hashrate as I have but to have that great of an increase overnight is definitely NOT miners adding extra power...definitely failover and/or slush pool received some immigrants from Ghash.io. On another note...slush pool "size" has supposedly dropped 1% according to https://blockchain.info/pools, we were hovering at 4% for the last couple weeks, very strange.