At first they are going to be like "im getting money im getting money" and then diff adapts and they're like "awwww"
That made me chortle!
Topic: 5 Million dollar mining rig (Read 3373 times)
That made me chortle!
as there are 20,000,000 Ghash on the network at present, 5 mil will not make a massive difference.
I think honestly you shouldn't overreact - they probably are only going to be adding maybe in the ballpark of 1 PH/s to the network? By the time they are online, it will only be between 0.5 and 2% of the overall network considering how much other hash power is being supplied by the various companies in the next several months. By the end of 2014/early 2015 it would probably be at 0.1%. Irrelevant.
Agreed
2 sweet 2 be true
I know this iss of topic, But we should riot and tear down everything in their factory lol 
At first they are going to be like "im getting money im getting money" and then diff adapts and they're like "awwww"
And the rest of us are going 
At first they are going to be like "im getting money im getting money" and then diff adapts and they're like "awwww"
sweet mother of god
I think honestly you shouldn't overreact - they probably are only going to be adding maybe in the ballpark of 1 PH/s to the network? By the time they are online, it will only be between 0.5 and 2% of the overall network considering how much other hash power is being supplied by the various companies in the next several months. By the end of 2014/early 2015 it would probably be at 0.1%. Irrelevant.
and bitcoin is officially out of the general public. 
These big companys doing this is taking away the network security by making it all centuralized. 
. Make the network strong by a shit tone of people hosting miners not just a few big companys...
These big companys doing this is taking away the network security by making it all centuralized. . Make the network strong by a shit tone of people hosting miners not just a few big companys...
I hear a loud flushing noise. might as well burn your money.
btc:1GGZFEkUqSqhQSKcySHteuctLUtkCYzpTa
btc:1GGZFEkUqSqhQSKcySHteuctLUtkCYzpTa
They are using 55nm asics.
Not going to turn a profit.
At least not at current BTC/USD prices.
I might be wrong. But i would've gone with newer 28 nm asics.
Not going to turn a profit.
At least not at current BTC/USD prices.
I might be wrong. But i would've gone with newer 28 nm asics.
Why would they need to go with a 28nm process, when the BitFury chips are MUCH cheaper to process (giving you higher GHs/USD), and are also amazingly power efficient (even beating out KNC's 28nm).
With a $5million purchase, you can bet they weighed ALL their options before they bought anything.
Already rich why bother 
I am guessing they did not do their homework. I only spent 2G's and did almost a months worth of work. I was like GD..
Here come another difficulty hike of 100%
Wow, Great way to fuck it up for those who bought KNC Neptunes and Cointerras.
I've known Merlin for years, I'm sure he knows what he is doing.
Who's dumber - the guys who think they will mine lots of BTC with USB Erupters (that's what it looks like in the photo), or the people who gave them all that money?
stock photo...I'm sure they didn't build a $5 million dollar block erupter farm.
The articles does not say they have purchased usb miners with this 5 million dollars, perhaps they contracted Bitfury to build a number od specialty units for this project. Hopefully a group that can raise 5 mil, can hire someone smart enough to do it right! The picture is a stock photo from a conference display. Read before you post about a room full of USB miners!
Mtnminer
Mtnminer
Who's dumber - the guys who think they will mine lots of BTC with USB Erupters (that's what it looks like in the photo), or the people who gave them all that money?
Somebody found a cool way to offload their 55nm gear then. 
Difficulty just went up 20% tonight!
Difficulty just went up 20% tonight!
imagine a wall filled with 55000 bitfury usb sticks. like the entire wall a USB hub.
nice
nice
They are using 55nm asics.
Not going to turn a profit.
At least not at current BTC/USD prices.
I might be wrong. But i would've gone with newer 28 nm asics.
Not going to turn a profit.
At least not at current BTC/USD prices.
I might be wrong. But i would've gone with newer 28 nm asics.
The amount of coins they could make though...
and then, the network adapt the difficulty ...
lol what a waste
Came across this article.. found it interesting that they're not buying next gen hardware that's going to be released right around the corner. Regardless, with 5 Mil they could build a pretty impressive rig, difficulty is gonna go through the roof..
http://www.vcpost.com/articles/21065/20140123/bitcoin-investment-fund-coinseed-invests-5m-bitfury-mining-hardware.htm
http://www.vcpost.com/articles/21065/20140123/bitcoin-investment-fund-coinseed-invests-5m-bitfury-mining-hardware.htm
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