Topic: A newbie board.. really? Butterfly labs 50Gh/s (Read 1627 times)
Yea Theres a newbie board!
I tried to quantify the increase in difficulty/hashrate for a given number of BFL ASIC miners:
https://docs.google.com/spreadsheet/ccc?key=0Akhvf6-Gen09dDFMbGQ1NlRaTW9OMzVjSmJ4dGpPZkE&usp=sharing
Its still a work in process, but it might help you get an idea of where the difficulty will be.
https://docs.google.com/spreadsheet/ccc?key=0Akhvf6-Gen09dDFMbGQ1NlRaTW9OMzVjSmJ4dGpPZkE&usp=sharing
Its still a work in process, but it might help you get an idea of where the difficulty will be.
You honestly think BFL will deliver? Hahaha.
No, see, he's great at data mining, so that's why he sunk thousands of dollars into a venture he obviously didn't investigate and.... I have no idea, where I'm going with this, it is just too comical.
And your good at talking..(from what iv gathered on all of your other posts on this forum) and not actually backing up what you say.
I'v personally spoken to the team at BFL.
There own blog stated yesterday that they shipped units. Regardless i'm not concerned with your opinion.
Go read something.
What are your thoughts on where its headed?
Do we really think difficulty will still peak to 100M like some "experts" say in the next few months based on the fact that ASIC hardware is already on the market and hashing away?
Would it also be safe to say that GPU hashing will be extinct (as cpu was pushed out initially by gpu) as a result to ASIC, hopefully dropping the difficulty down somewhat?
If you've tried to buy a decent ATI/AMD video card on Kijiji or craigslist lately, you'll find that many people are still full steam ahead on GPU mining...
My thoughts on mining and difficulty are that the difficulty will always settle at a point that is relative to the amount of money people are willing to spend on the widest available production method.
If the most efficient (and widely available) hardware you can buy is 5Mh/s/dollar, then the majority of miners will use that hardware and the network hashrate will rise accordingly. This means, that unless you are on the leading edge with a new piece of hardware, you can never really gain much advantage.
For example, if Bob the statistically average miner maintains $1000 worth of mining hardware, and upgrades at a rate that is also average, he will never really progress in terms of his share of the entire network hashrate, which means he will always (again, on average) generate bit coins at a constant rate, assuming he is keeping up with the available technology.
Then again, I am a newb, so what do I know.
If the most efficient (and widely available) hardware you can buy is 5Mh/s/dollar, then the majority of miners will use that hardware and the network hashrate will rise accordingly. This means, that unless you are on the leading edge with a new piece of hardware, you can never really gain much advantage.
For example, if Bob the statistically average miner maintains $1000 worth of mining hardware, and upgrades at a rate that is also average, he will never really progress in terms of his share of the entire network hashrate, which means he will always (again, on average) generate bit coins at a constant rate, assuming he is keeping up with the available technology.
Then again, I am a newb, so what do I know.
i buyed one some moths ago. i think that it will never come lol
You honestly think BFL will deliver? Hahaha.
No, see, he's great at data mining, so that's why he sunk thousands of dollars into a venture he obviously didn't investigate and.... I have no idea, where I'm going with this, it is just too comical.
You honestly think BFL will deliver? Hahaha.
Has anyone seen an Avalon miner in action? I was thinking about going in on one of the ASIC chip group buys and making my own!
Are you an electrical engineer, or do you know some? It's not going to be easy to make your own miner. I know there's someone doing the PCB part of it with chips people buy, but I don't know too much.
Yup, I am one actually! I'm planning on making one simple board to start that just holds a single asic and support circuitry (like power supply and high-frequency clock) with the data pins broken out to 0.1" headers so it can be plugged into a breadboard. People can then use this to prototype larger designs.
I can write highly optimized code (more so that what is currently out there to run these asics). Let me know when you are closer to a prototype and I will get you going if you like.
MOD EDIT:
Removed a bunch of duplicate quotes
Has anyone seen an Avalon miner in action? I was thinking about going in on one of the ASIC chip group buys and making my own!
Are you an electrical engineer, or do you know some? It's not going to be easy to make your own miner. I know there's someone doing the PCB part of it with chips people buy, but I don't know too much.
Yup, I am one actually! I'm planning on making one simple board to start that just holds a single asic and support circuitry (like power supply and high-frequency clock) with the data pins broken out to 0.1" headers so it can be plugged into a breadboard. People can then use this to prototype larger designs.
I was reading something about 50BTC having close to 50% or more of mining power? I'm going to make a special note NOT to choose them.
BTCGuild is much closer, check out http://blockchain.info/pools
Ahh there you go. I had the name wrong. Correct me if i'm wrong but we wouldn't want to join a mining pool with too low a hash-rate correct? Then coin discovery becomes less likely? Or more of mere luck over time?
Over a long enough period of time it doesn't matter, but it's nice to be part of a decent sized pool so you get consistent payouts.
Is it something like this:
Big pool[BTC Guild] - steady but low payout
smaller pool[Slush] - less steady but higher payout [more relative shares]
I was reading something about 50BTC having close to 50% or more of mining power? I'm going to make a special note NOT to choose them.
BTCGuild is much closer, check out http://blockchain.info/pools
Ahh there you go. I had the name wrong. Correct me if i'm wrong but we wouldn't want to join a mining pool with too low a hash-rate correct? Then coin discovery becomes less likely? Or more of mere luck over time?
Over a long enough period of time it doesn't matter, but it's nice to be part of a decent sized pool so you get consistent payouts.
I was reading something about 50BTC having close to 50% or more of mining power? I'm going to make a special note NOT to choose them.
BTCGuild is much closer, check out http://blockchain.info/pools
Ahh there you go. I had the name wrong. Correct me if i'm wrong but we wouldn't want to join a mining pool with too low a hash-rate correct? Then coin discovery becomes less likely? Or more of mere luck over time?
I was reading something about 50BTC having close to 50% or more of mining power? I'm going to make a special note NOT to choose them.
BTCGuild is much closer, check out http://blockchain.info/pools
My conclusion is that making predictions about mining is very hard. I hope, like many others that i'll be able to mine enough BTC with my 50Gh/s before the difficulty skyrockets. But i think that in the long run the investment in a miner is smart. Even if all the coins are mined, there are still the fees.
Also even if the difficulty rises, so does the price. So i'm hoping for a "steady" pay-out.
My greatest choice to make is which mining pool to join
Also even if the difficulty rises, so does the price. So i'm hoping for a "steady" pay-out.
My greatest choice to make is which mining pool to join
I hear you. I was reading something about 50BTC having close to 50% or more of mining power? I'm going to make a special note NOT to choose them.
same here
the amount of shares we'll get will be too low.
My conclusion is that making predictions about mining is very hard. I hope, like many others that i'll be able to mine enough BTC with my 50Gh/s before the difficulty skyrockets. But i think that in the long run the investment in a miner is smart. Even if all the coins are mined, there are still the fees.
Also even if the difficulty rises, so does the price. So i'm hoping for a "steady" pay-out.
My greatest choice to make is which mining pool to join
Also even if the difficulty rises, so does the price. So i'm hoping for a "steady" pay-out.
My greatest choice to make is which mining pool to join
I hear you. I was reading something about 50BTC having close to 50% or more of mining power? I'm going to make a special note NOT to choose them.
My conclusion is that making predictions about mining is very hard. I hope, like many others that i'll be able to mine enough BTC with my 50Gh/s before the difficulty skyrockets. But i think that in the long run the investment in a miner is smart. Even if all the coins are mined, there are still the fees.
Also even if the difficulty rises, so does the price. So i'm hoping for a "steady" pay-out.
My greatest choice to make is which mining pool to join
EDIT: Taking advantage of the huge fluctuations is smart, but not always easy to do.
Also i don't have "deep" pockets, so sitting on a big amount of coins is not possible for me.
Oh well, bitcoins are very interesting
Also even if the difficulty rises, so does the price. So i'm hoping for a "steady" pay-out.
My greatest choice to make is which mining pool to join
EDIT: Taking advantage of the huge fluctuations is smart, but not always easy to do.
Also i don't have "deep" pockets, so sitting on a big amount of coins is not possible for me.
Oh well, bitcoins are very interesting
Thank YOU tysat!!!!
It may make more sense to buy coins and sit on them. If Paypal does start taking Bitcoin, it's going to cause the market to jump up significantly to say the least. People who are hoarding coins for that kind of an announcement are smarter than spending that money on ASIC hardware that is far away from shipping.
This was my next thought! As long as people are sitting on some bitCoin, sayyy 100+, it may make sense to cash in hardware for more coin and start playing the exchange market. Banks make millions of currency exchange in todays markets. I knew a vice president of USbank who specialized in foreign exchange investment banking. I don't know 2 things about it but what i do know is with the USD value of bitCoin jumping around the way it does... it is a hell of a lot more profitable to play the market than mine coins at a certain point. What point i cant say i know. But if you look at todays little blip.
When i woke up, checked the market (nice little ticker on my phone), and it was 140~. Up from the number i saw last night around 125-130.
Later today it spiked up to slightly over 160! Then trickled back down to around 150 where it is now.
My point is if you played that simple jump in value even having bought 100 coins yesterday at 125, and sold today at the 160 mark.. that's 3,500$ in profit in one day... now take your 16K$ and buy more bitCoin when it hit a low of 138 today and now you have 116 bitCoin A 16% increase in possible levy value.. i mean its a stock brokers DREAM to see rapid and large fluctuations like this.
It may make more sense to buy coins and sit on them. If Paypal does start taking Bitcoin, it's going to cause the market to jump up significantly to say the least. People who are hoarding coins for that kind of an announcement are smarter than spending that money on ASIC hardware that is far away from shipping.
This was my next thought! As long as people are sitting on some bitCoin, sayyy 100+, it may make sense to cash in hardware for more coin and start playing the exchange market. Banks make millions of currency exchange in todays markets. I knew a vice president of USbank who specialized in foreign exchange investment banking. I don't know 2 things about it but what i do know is with the USD value of bitCoin jumping around the way it does... it is a hell of a lot more profitable to play the market than mine coins at a certain point. What point i cant say i know. But if you look at todays little blip.
When i woke up, checked the market (nice little ticker on my phone
), and it was 140~. Up from the number i saw last night around 125-130.Later today it spiked up to slightly over 160! Then trickled back down to around 150 where it is now.
My point is if you played that simple jump in value even having bought 100 coins yesterday at 125, and sold today at the 160 mark.. that's 3,500$ in profit in one day... now take your 16K$ and buy more bitCoin when it hit a low of 138 today and now you have 116 bitCoin
A 16% increase in possible levy value.. i mean its a stock brokers DREAM to see rapid and large fluctuations like this. Has anyone seen an Avalon miner in action? I was thinking about going in on one of the ASIC chip group buys and making my own!
Are you an electrical engineer, or do you know some? It's not going to be easy to make your own miner. I know there's someone doing the PCB part of it with chips people buy, but I don't know too much.
Has anyone seen an Avalon miner in action? I was thinking about going in on one of the ASIC chip group buys and making my own!
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