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Topic: [ANN][EMC2] Einsteinium | FUNDING THE FUTURE WITH THE FUTURE OF CURRENCY - page 356. (Read 1076396 times)

hero member
Activity: 658
Merit: 500
The price are terribly low for what you mine,the big minimum is 1ksat and we can't handle this :/  I put this on the easter,we will see after the long weekend!

Asic miners have much lower running costs (electricity), they can afford to sell at these prices (with a profit).
efficiency is not the biggest factor here. Startup cost (cost of ASIC, that have no long term resale value). The ROI needs to be hit early or else you get burned.

Asic startup costs (just like GPU's) are sunk costs. In the short term decision making, only variable costs (electricity) as opposed to integral costs are considered.
If electricity cost was at all relevant, bitcoin price would have lowered considerably and constantly with ASIC. It did the exact opposite, it boomed. It's very arguable what really causes that, it may be the arms race that ASIC are where more and more money injected into hardware means it would elevate the price equilibrium, or it could be other fundamentals. But either way, it shows how LITTLE electricity cost is relevant to value.

No matter the terminology you use, facts are facts, words need to be used correctly and with everything in consideration.  The fact electricity is a variable cost means very little. One of the only use of determining variable cost is profit optimization. But there is so much more than that to the matter. The arms race effect trumps a lot of stuff here.
HwM
member
Activity: 119
Merit: 10
The price are terribly low for what you mine,the big minimum is 1ksat and we can't handle this :/  I put this on the easter,we will see after the long weekend!

Asic miners have much lower running costs (electricity), they can afford to sell at these prices (with a profit).
efficiency is not the biggest factor here. Startup cost (cost of ASIC, that have no long term resale value). The ROI needs to be hit early or else you get burned.

Asic startup costs (just like GPU's) are sunk costs. In the short term decision making, only variable costs (electricity) as opposed to integral costs are considered.
hero member
Activity: 658
Merit: 500
The price are terribly low for what you mine,the big minimum is 1ksat and we can't handle this :/  I put this on the easter,we will see after the long weekend!

Asic miners have much lower running costs (electricity), they can afford to sell at these prices (with a profit).
efficiency is not the biggest factor here. Startup cost (cost of ASIC, that have no long term resale value). The ROI needs to be hit early or else you get burned.
HwM
member
Activity: 119
Merit: 10
The price are terribly low for what you mine,the big minimum is 1ksat and we can't handle this :/  I put this on the easter,we will see after the long weekend!

Asic miners have much lower running costs (electricity), they can afford to sell at these prices (with a profit).
legendary
Activity: 1130
Merit: 1000
No good deed goes unpunished
The miners who mined low have been selling off near 800 all day long.

It can't continue and those 5 BTC buys that got filled at 800 will have helped a lot. Won't be long until CoinWarz updates block reward and price goes up again, right now it looks very profitable to mine and sell, and isn't  Cheesy Keep mining and wait for 1k this week.
legendary
Activity: 1988
Merit: 1000
Something is cooking .. make sure you have coins on exchanges to make some profits and not end up short like in the pump before MintPump & Craptsy. BUT NEVER EVER SELL ALL .. just look at BC, FLT, FAC, POT ..

Noble coin is being worked up too. PoS pool need more good PoW coins to mine, make EMC2 one of them - 200 DIFF in next month! hehe

Its very debatable for drive up the price! Maybe this is the solution
legendary
Activity: 1988
Merit: 1000
The price are terribly low for what you mine,the big minimum is 1ksat and we can't handle this :/  I put this on the easter,we will see after the long weekend!
HwM
member
Activity: 119
Merit: 10
800 sat seems to be hard to break.

it broke 890 right after Epoch 2 began then slowly declining.

ah, actually i meant: 800 sat seems to be hard to sustain
member
Activity: 112
Merit: 100
At these prices plus the coin halving it will kill mining off. only way is down unless people start buying it.
newbie
Activity: 7
Merit: 0
full member
Activity: 180
Merit: 100
800 sat seems to be hard to break.

it broke 890 right after Epoch 2 began then slowly declining.
HwM
member
Activity: 119
Merit: 10
800 sat seems to be hard to break.
legendary
Activity: 1130
Merit: 1000
No good deed goes unpunished
Well done to EMC2 backers, held out against a mega onslaught from some bagholder who couldn't wait to be rid of 800 price coins.

Keep rebuilding walls, he'll run out and then kick himself for not holding past 1k  Grin
sr. member
Activity: 406
Merit: 250
Epoch 2 has begun! 4000 satoshi here it comes!  Cool Grin

4000 Sa, i'm waiting for 40000Sa man :d
full member
Activity: 180
Merit: 100
Epoch 2 has begun! 4000 satoshi here it comes!  Cool Grin
legendary
Activity: 1130
Merit: 1000
No good deed goes unpunished
CryptoPools is now back on the right fork. 


-tb-

I'm back mining there, tho can see no pay outs will happen, but blocks found, so not worried. Got my coins last night that I mined before.

Congratulations EMC2 on holding steady in the trade frenzy last night, had a lot of fun and all my EMC2 is still with me and yet profits made. Good stuff  Grin
legendary
Activity: 1694
Merit: 1054
Point. Click. Blockchain
CryptoPools is now back on the right fork. 


-tb-
sr. member
Activity: 574
Merit: 250
Happy Easter BTW to our wonderful community.. I hope all of you that celebrate are having a great weekend with the family even though it may be hard for some (in-laws)  and remember everyone, drive safe!



You too man.
legendary
Activity: 1008
Merit: 1000
Making money since I was in the womb! @emc2whale
Happy Easter BTW to our wonderful community.. I hope all of you that celebrate are having a great weekend with the family even though it may be hard for some (in-laws)  and remember everyone, drive safe!

legendary
Activity: 1008
Merit: 1000
Making money since I was in the womb! @emc2whale
Yeah you make good points. The asics won't be released for a little while, so if we have a solid foundation by then, i think we should be good. It could actually help indeed. If they were released tmrw, tho, i'd be a bit worried. Like you said tho, asics are the future, they'll be made for most algos eventually anyway. I just hope we'll be a solid enough coin when they come out for scrypt so that they help us instead of hurting.

Regardless of changing, even with having scrypt I have always thought emc2 has serious potential. I think at some point einsteinium will be seen as being a big-time contender in the scrypt world.

To be honest, I wish they were here already. I know our team has some coming in and we'll have a fair amount of hashpower to secure the network. But yeah, I do think that EMC2 will grow into that crypto leader that we see it getting to.

Smiley
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