Topic: AMHash1: Cost-Effective Mining Contract - page 73. (Read 304259 times)

Ok, post me the thread link then, I not going out of my way to find it

I have AMhash Gen 3 direct and shares in AMhash1 at Havelock

 Why don't you post this in the speculation (or /dev/null) thread where it (sort of) belongs?

Electricity only accounts for 30% of the price of mining a Bitcoin in the USA  (10 cent a watt)

Electricity only accounts for 9% of the price of mining a Bitcoin in Iceland (3 cent a watt)

For a Bitcoin Farm in Iceland using mining equipment using 0.7Watts per 1GHs; new equipment producing at 0.2 per a watt represents a saving on electricity bills of only 6.48%.

Therefore, for the cost of Bitcoin Farm in Iceland, the electricity bill will come down to just 2.52%, but this is not really worth investing in tonnes of new mining equipment even if it is mining at 0.2Watts per 1GHs and these are insufficient savings to generate doubling of the Bitcoin network hashpower

In the USA, even 22.5% reduction in the electricity bill, only makes it worth replacing ancient 1.2Watt and 1Watt mining units and maybe some of the 1Watt units

Earlier calculations showed these units are switched off automatically when BTC price is under $220 and difficulty is 44 billion. Therefore, it will be a straight swapover for miners and it guarantees a BTC price of between $200 to $250 all the way into the Block Halving in 2016.

However, the savings on each Bitcoin mined is insufficient to double network hashpower.

You see, at a sub-$230 price for Bitcoins such electricity savings are marginal factors on ROI. If, like last year Bitcoin price was between $300 to $500 per a Bitcoin, I would agree with you that the network difficulty would be guaranteed to double

Have you ever heard of macro economic rule of "diminishing returns" on ongoing use of old knowledge, like more efficient ASIC silicon

 

 What the hell though, if  thevictimofuktyranny says bitcoin diff stays below 50 billion for the rest of this year, who am I to argue?  I'm going to start loading up on AMHash shares and Asicminer Prisma 2.0s  //QED  LMFAO

That's a major flaw in your argument. The next generation of 28nm ASICs from ASICMiner, BitFury and Sponddooies all promising less than 0.2 J/gh will be available soon. All those companies have 16nm plans (as does KNC which has apparently already taped out) for later this year as well. Those 16nm ASICs are expected to use around 0.05 J/Gh making them 10x more efficient than an S5.

Had to do some of the macros for someone on another thread, thought you'd like have a look at it DARKANGEL6415:

Doubling the current difficult would require the additional usage of 26,9565 Bitman S5 ($413 plus PSU plus extras $600) units or their equivalent alternatives.

This would require $161,739,130 this year up front, plus not a single old unit must be decommissioned, however at 44 billion difficulty most of the old 1.2 watt units had to shut off  

Therefore, if difficulty doubled, most 1 watt units would have to be shut down and therefore another $161 million would be needed to replace them as well; net $322 million up front costs  

Current Bitcoin price $225 makes this level of new investment impossible, because the profits per Bitcoin are insufficient to fund such investments.

Annual production of BTC this year value at current prices (3600 times $225 times 365 days) $295,650,000.

Most Bitcoins are never available to buy, under 30% reach the open Fiat Currency exchanges, which will be under $88,695,000 to fund hardware, labor and electricity costs. Nowhere, near close enough to fund the doubling of network hashpower.

QED. Difficulty will not double this year, but stay under 50 billion difficulty range  

And

It is a clever piece of macro economics included in Bitcoins and other crypto currencies, to increase difficulty you have to increase capital expenditures up front. This is very cheap at the beginning of the process of establishing a crypto currency, but it becomes ever more expensive as doubling of difficulty reoccurs. Therefore, people can accurately forecast the future difficulty on the basis of price expectations.  

And, yeah this implies manufacturers like AMhash will be there in 2016

while i hope your logic is correct i got 1 thing to say ............ 2016 is so far away i want the block halving to happen now lol, i hope amhash is around for 2016

I have a ticket from 31.01 and no answer until now and also sent email to alex few days ago and no answer.
Please if someone from team can check and solve.
Thank you.
BR.

sync. your clock

i want to withdraw btc but google 2fa fails what should i do

These people already have Bitcoins at the exchanges. When the price hits certain prices point they sell down

The equipment is switched on to replace the sold value of Bitcoins

Bitcoins price will go up next year in advance of the Block Halving for sure, but not this year

Litecoin is having it's 1st Block Halving this August and DRK is looking very undervalued this year;)

I don't know if it really matters that much which hardware is being used to mine the coins. If the price rebounds big time, also the people using 1.2W/GH/s equipment and above will wait to sell. The block reward will be factored in before it actually takes place, that means the price will go up before the halving happens!

Price may around this level all of 2015 and only the block halving in 2016 will cause it to increase

Looking at the network hashpower, it looks like all the 1watt and 1.2watt mining equipment (some may be farms) is still functional, even when it is not switched on for mining

Whenever, the BTC prices goes above $220 these farms and equipment are switched on - mine some BTC and immediately convert it into Fiat Currency, which causes the price to head back downwards below $219.

Therefore, their is still 362PTHs network hashpower, but it is only switched off when BTC is a below certain price benchmarks.

Around 362PTHs around $245 plus
Around 310 PTHs around $220 plus
Around 250 PTHs around $200 plus

Consequently, network difficulty will have to be held around 41500000000 right up to the block halving in mid 2016

Obviously, when the block reward is halved mid 2016, the 1watt and 1.2watt mining equipment will need BTC price of $400 before being switched on, so price will definitely climb alot  

At least FC is squeezing the competition a bit. I'm afraid though: Compared to, say, KNC and Bitfury, we're the next ASIC/cloud-mining company that would go down if this streak continues. Well, at least AM has access to own hardware and can continue to self-mine. I don't think a depressed BTC price will kill them necessarly.

dam they just falling like flies left and right, hope havelock hash amhash well protected and has plans in the event price keeps dropping and the difficulty keeps going on up

I got today missing dividends.
Thank you.
BR.

I was have same problem.
Was no payment in 29.01.
I make a ticket but not solved yet.

2015-02-02 23:59:05   20150202   0.00519 mBTC/GHS   1068   0.00554292 BTC
2015-02-01 23:59:04   20150201   0.00517 mBTC/GHS   1068   0.00552156 BTC
2015-01-31 23:59:03   20150130   0.00551 mBTC/GHS   1068   0.00588468 BTC
2015-01-30 23:59:04   20150129   0.00512 mBTC/GHS   1068   0.00546816 BTC
2015-01-28 23:59:04   20150128   0.00617 mBTC/GHS   1068   0.00658956 BTC
2015-01-27 23:59:04   20150127   0.00577 mBTC/GHS   1068   0.00616236 BTC

BR.

It is software error or input error 

" day 01  pay the day 01"

Should read "day 31 pay the day 01" 

Hey the other i was looking through my dividends and i find one day missing

PAY TIME                   DIVIDENDS DATE         DIVIDENDS AMOUNT

2015-02-02 23:59:03   20150202                  0.00519 mBTC/GHS   

2015-02-01 23:59:03   20150201                  0.00517 mBTC/GHS       day 01  pay the day 01
   
2015-01-31 23:59:02   20150130                  0.00551 mBTC/GHS   day 30  pay the day 31

2015-01-30 23:59:03   20150129                  0.00512 mBTC/GHS   day 29 pay the day 30

2015-01-28 23:59:03   20150128                  0.00617 mBTC/GHS   day 28  pay the day 28

so where is the dividends for the 31 ?  should i submit a ticket ?

Yeah, MINPIT was the only thing I found even remotely worthwhile there.