The plan is to wait until competing products drive the price down. It will happen eventually.
+1
Or more likely, a competing product with better hash for lower unit cost...
Topic: [Announcement] Block Erupter USB - page 40. (Read 251998 times)
+1
Or more likely, a competing product with better hash for lower unit cost...
AM doesn't strike as foolish. So, they will not be selling mining resources because they are bumping close to 50%. They will instead move a portion of their hashing to a different pool.
It sounds like that is already happening as I seem to remember from their last communique that their newest 50Th and 200Th farms will be on their own pool(s?).
It sounds like that is already happening as I seem to remember from their last communique that their newest 50Th and 200Th farms will be on their own pool(s?).
If they get close to 50%, they'll just sell mining equipment instead of increasing their hash rate. In fact, I expect them to do that way before 50%, probably around 25%. They won't risk taking too much of the global hash rate when they can get a premium for their equipment.
In related news, the share prices are rising! It seems people are realizing the dividends will be increasing significantly over the next few weeks.
In related news, the share prices are rising! It seems people are realizing the dividends will be increasing significantly over the next few weeks.
It really depends on if they are converting the btc they mine right away, or if they are saving them. If they cash them out right away, that could drop the value of btc pretty rapidly. On the other hand, if they save them, it could drive the value up because less of the other miners will get as many coins as before.
The 51% situation is a problem, because as they approach it, the difficulty will also spike causing more and more people to quit mining, bringing them to 51% or over. This means they'll have to shut down some of their equipment to stay underneath it.
Once someone gets 40%, they have a 50/50 chance of reversing any transaction. So once they breach 40%, it's a problem in theory anyway.
It's not good for Bitcoin. But if Bitcoin fails, so too does their entire operation, so they have choices to make when expanding their hashing power.
The 51% situation is a problem, because as they approach it, the difficulty will also spike causing more and more people to quit mining, bringing them to 51% or over. This means they'll have to shut down some of their equipment to stay underneath it.
Once someone gets 40%, they have a 50/50 chance of reversing any transaction. So once they breach 40%, it's a problem in theory anyway.
It's not good for Bitcoin. But if Bitcoin fails, so too does their entire operation, so they have choices to make when expanding their hashing power.
No, because the admin at BTC is smart and realizes the potential negativity around the 51% situation (something AM is apparently the doombringer of 
) and would raise fees or do something to mitigate. It's been encouraged to spread the hashing a little to keep everything stable.
As far as AM, the more I think about their situation the more it makes me uncomfortable. I mean, think about it, they've already got a market for shares of their mining setup. If someone in BitFountain was industrious you could have the AM-Market where people competitively bid on this market that sits on top of BTC. Right now we've got auctions and different exchanges, but they could make a mint off of people paying them to make absurd amounts of money. Oh wait, that's exactly what they are doing!
It's brilliant.
) and would raise fees or do something to mitigate. It's been encouraged to spread the hashing a little to keep everything stable.As far as AM, the more I think about their situation the more it makes me uncomfortable. I mean, think about it, they've already got a market for shares of their mining setup. If someone in BitFountain was industrious you could have the AM-Market where people competitively bid on this market that sits on top of BTC. Right now we've got auctions and different exchanges, but they could make a mint off of people paying them to make absurd amounts of money. Oh wait, that's exactly what they are doing!
It's brilliant.
If I was a shareholder I would want to know why the powers that be @ AM are mining in the BTCguild pool paying (wasting) a 7.5% fee, when they they have enough T/H power to mine solo and keep all fees and block rewards for shareholders.
Surely giving away 7.5% of profits and mining "fees" to a third party is crazy?
Surely giving away 7.5% of profits and mining "fees" to a third party is crazy?
Now that they have so much TH, the plan is to go solo in the next few weeks.
...since BTCGuild usually does well PPLNS has been a long-term good bet... they're basically using BTCGuild as a stratum PPLNS server for their mining operation. 
So are saying we should all switch to BTCGuild and mine PPLNS because it's the best game in town ?
Aren't you concerned that people will wake up to the reality of the situation and cause Bitcoin to collapse and be replaced?
Solo mining is just dumb luck, pooled mining ensures you get paid. Joy of PPS, no matter how many blocks the pool finds you get paid, but it is riskier (hence hefty fees). PPLNS means you get paid based on your shares / total shares of found blocks combined value, but since BTCGuild usually does well PPLNS has been a long-term good bet.
Solo has a good chance of finding blocks (for AM, anyway, since they are bigger than most pools), but for investment sakes a pool somewhat guarantees the income. Plus they seem to have the best luck on BTCGuild (I know I do, next to Bitparking), so they're basically using BTCGuild as a stratum PPLNS server for their mining operation.
Solo has a good chance of finding blocks (for AM, anyway, since they are bigger than most pools), but for investment sakes a pool somewhat guarantees the income. Plus they seem to have the best luck on BTCGuild (I know I do, next to Bitparking), so they're basically using BTCGuild as a stratum PPLNS server for their mining operation.
They mine PPLNS, 1.5% fee and averages higher payout than PPS. They're smart capitalists.
So their pool gives them more BTC than they would otherwise gain mining solo?
How is this in the pools interest?
(Not fully read up on mining so forgive if the question is dumb)
They mine PPLNS, 1.5% fee and averages higher payout than PPS. They're smart capitalists.
Still meaning that, much like the folks on BTCGuild, we're currently all on AM's network. And they're just getting rich off this sh*t.
which means that now is a good time to buy shares...If I was a shareholder I would want to know why the powers that be @ AM are mining in the BTCguild pool paying (wasting) a 7.5% fee, when they they have enough T/H power to mine solo and keep all fees and block rewards for shareholders.
Surely giving away 7.5% of profits and mining "fees" to a third party is crazy?
M
Still meaning that, much like the folks on BTCGuild, we're currently all on AM's network. And they're just getting rich off this sh*t.
which means that now is a good time to buy shares... Current hashrates here: https://docs.google.com/spreadsheet/ccc?key=0AkPdXsQFT-vIdHRVUjQ5Ql9BQWR6OENLMkhyUktUblE#gid=7
There is plans to up the hashrate to 262TH/s in the next 2-3 months, and this has held true so far. We were at 7-8TH not long ago.
There is plans to up the hashrate to 262TH/s in the next 2-3 months, and this has held true so far. We were at 7-8TH not long ago.
Point proven. We're going to 4x the network, meaning our 300 stick is effectively a 75 stick in all reality. And at 1.99BTC, what a steal!
Time to theorize, a bit.
This also means AM, with that deployment, would blow through the 51% wall, BTC would be insecure, and we should all jump ship before these ambitious upstarts take over. And there is no "but competitors will be bringing X to market" argument since nobody has proven the ability to deploy anything that counters the hardware that AM will presumably be sitting on. Which effectively means AM can and/or will selectively maintain an absurd lead mining (not hardware production, but mining) for as long as they please or until a competitor proves its worth. Still meaning that, much like the folks on BTCGuild, we're currently all on AM's network. And they're just getting rich off this sh*t.
I'd have bought AM shares if they were really for sale, but they're not. You don't get a contract directly with AM any more, or at least not last time I checked. You need to trust a couple extra "layers".
you can buy shares through auctions in this forum. They are a direct shares. But, I don't see the point of direct shares, and typically, bitfunder is .1-.3 btc cheaper per share than direct shares. They all get the same dividends, and I have no reason not to trust the PTs.Additionally, you can convert PT shares to direct shares, if you want.
Longer ROI, some people are just okay with it!, Especially those who don't pay for electricity 
, Besides some just want one as souvenir. I know if I could I would buy one just to show the people "Yup, I invested in the awesome people who made this"
, Besides some just want one as souvenir. I know if I could I would buy one just to show the people "Yup, I invested in the awesome people who made this"You will never make an ROI unless BTC rises to $200 in the next few months or $1000 in the next few years!
forcast says in 3 years time network difficulty will be over 1000 million (10 million today) an this USB miner will earn less than 0.0001 btc a day.
M
Not stupid.... Uninformed of the realities. The smart money would be to buy AM shares with those two BTC while they are currently down. I'm not that smart though.
I'd have bought AM shares if they were really for sale, but they're not. You don't get a contract directly with AM any more, or at least not last time I checked. You need to trust a couple extra "layers".
If difficulty is going up so much, you're better off getting some coins at this price.
privately or : https://bitfunder.com/asset/G.ASICMINER-PT or https://btct.co/security/ASICMINER-PT or https://bitfunder.com/asset/TAT.ASICMINER.
Thanks for posting these links. I did not have the foresight to get involved in the AM IPO or get involved with the Bitcoin stock-market at all.
If I understand correctly, if I go to Bitfunder.com and buy 100 shares of G.ASICMINER-PT, I will then own 100 shares stored at Bitfunder, and they will pay me the dividends in my account that I can then withdraw to my wallet ?
Longer ROI, some people are just okay with it!, Especially those who don't pay for electricity , Besides some just want one as souvenir. I know if I could I would buy one just to show the people "Yup, I invested in the awesome people who made this"
, Besides some just want one as souvenir. I know if I could I would buy one just to show the people "Yup, I invested in the awesome people who made this"
Not stupid.... Uninformed of the realities. The smart money would be to buy AM shares with those two BTC while they are currently down. I'm not that smart though.
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