Considering to start solo mining, thoughts?

Harley997

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The final and one of the most important probably, how should I start? Meaning, what hardware should I buy to start out with. I was thinking I would buy like 20 of those 2Gh/s block erupters and see whats happens there. But financially Im pretty sure I could get quite a bit more Gh/s for the money I would be spending on 20 block erupters and everything I would need to set it up (raspberry pi, ect.)

If this is what you plan on buying (in terms of hashrate) then defiantly do NOT attempt to solo mine. You may get lucky and find a block, however the chances of you winning the lottery are greater.

In order for solo mining to be any kind of possible viable option you would need to control a significant portion of the network (IMO 2-3% of the network, as of now ~2-3 PH/s).

To put that i perspective You are thinking about buying ~40 GH/s of mining capacity. 1000 GH/s = 1 TH/s; 1000 TH/s = 1 PH/s

RoadStress

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Quote from: jimmothy on June 09, 2014, 06:32:20 PM

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How? I haven't seen a single Neptune running until now. Where is the proof?

His estimations for the time it takes tsmc 20nm to go from tapeout to packaged chips were way off.

How can we be sure their magic crystal ball is working correctly?

And you believe what KnC says at this point? After lying about their self mining?

jimmothy

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How? I haven't seen a single Neptune running until now. Where is the proof?

His estimations for the time it takes tsmc 20nm to go from tapeout to packaged chips were way off.

How can we be sure their magic crystal ball is working correctly?

RoadStress

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Quote from: jimmothy on June 09, 2014, 06:20:12 PM

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Don't change the subject. You were saying that SP-Tech makes a profit of 2$/GH and I have proved you that's purely fantasy. They can't make a profit of 2$/GH if they sold out the June batch for less than 2$/GH. Let me repeat that.

I never said they ARE profiting $2/gh.

I said they HAVE profited around $2/gh average.

Do you really think they lack the funds to produce a batch of sp30?

Your below quote says to me that they are profiting $2/gh:

Quote from: jimmothy on June 09, 2014, 05:07:05 PM

Well they did sell ~5PH worth of hardware (at 40 sp10/day) and I'm guessing they made a profit of ~$2/gh average so they should have plenty of money.

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Funny you say that because AM sold more PH worth of chips in one month than spongebobtech did in 3.

Again changing the subject. What AM sold is one thing and what the distributors sold (or not sold) is a totally different thing. I know that AM sold a lot of PH, but that's only to their distributors. Let's see the distributors sell out their miners now

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Looks like knc just proved him wrong.

How? I haven't seen a single Neptune running until now. Where is the proof?

jimmothy

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Quote from: Guy Corem on March 27, 2014, 05:01:11 PM

TO - beginning of March.

Tapeout to samples:

40nm, 28nm - 8 weeks
20nm - 4-5 months

Prove me wrong.

Looks like knc just proved him wrong.

RoadStress

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Quote from: jimmothy on June 09, 2014, 05:41:29 PM

Even at an average of $4k per sp10 that would be $2.8/gh.

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Don't change the subject. You were saying that SP-Tech makes a profit of 2$/GH and I have proved you that's purely fantasy. They can't make a profit of 2$/GH if they sold out the June batch for less than 2$/GH. Let me repeat that. Sold out. It's something AM distributors won't see very soon.

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I'm only assuming they match the production costs of hashratio.

What do you think it costs them to produce 1 sp10?

Different companies, different chips, different pricing. I have no idea how much it costs to produce 1 SP10, but assuming a 2$/GH profit when they sold for less than that it's simply wrong.

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Just like knc is in control of their neptune project right?

Again different companies, different funding, different investors. KnC shifted from their customers in December 2013 when they decided to build their big DC after promising that they won't mine with more than 5% of the hashrate sold. After the first lie the others came very easily. Again don't compare different companies.

jimmothy

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They never sold SP10 for $5,500. You are way of again. Even if they did they sold just a few. Most of them were sold under $4k. Their whole June batch was sold for $2,695.

Even at an average of $4k per sp10 that would be $2.8/gh.

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You assumption of 0.6$/GH is way off like every other assumption made here.

I'm only assuming they match the production costs of hashratio.

What do you think it costs them to produce 1 sp10?

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They know their project better than anyone else. They control it.

Just like knc is in control of their neptune project right?

BitPhotos

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MTA, ACA

yea id stay away from solo mining... if you want you could buy a ton of GPUS and solo mine an altcoin and you would defiantly find a few blocks depending on the coin your mining!

RoadStress

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Quote from: jimmothy on June 09, 2014, 05:27:38 PM

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2$/GH profit? So that means that an SP10 that has 1450GH makes them $2900 profit? But it was sold for less than that. How can they have such a profit if they sold it for less than $2900? Your calculations are way way off.

Did they not sell some sp10 for ~$5,500?

I'm guessing it cost them ~$0.6/gh to produce.

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Don't judge by the past failed companies ran by crooks (BFL) or just bad intended people (TerraHash, HashFail etc) with SP-Tech who is ran by top 2 Israeli VC companies. It's a totally different story.

Regardless of who runs the company, they don't have an accurate enough magic crystal ball to justify putting investor level risks on customers.

They never sold SP10 for $5,500. You are way of again. Even if they did they sold just a few. Most of them were sold under $4k. Their whole June batch was sold for $2,695. I can't believe that you are actually believing that they sold it at a loss. You assumption of 0.6$/GH is way off like every other assumption made here.

They know their project better than anyone else. They control it. Of course it's like a magic crystal ball which tells them that there are absolutely zero risks on customers.

jimmothy

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2$/GH profit? So that means that an SP10 that has 1450GH makes them $2900 profit? But it was sold for less than that. How can they have such a profit if they sold it for less than $2900? Your calculations are way way off.

Did they not sell some sp10 for ~$5,500?

I'm guessing it cost them ~$0.6/gh to produce.

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Don't judge by the past failed companies ran by crooks (BFL) or just bad intended people (TerraHash, HashFail etc) with SP-Tech who is ran by top 2 Israeli VC companies. It's a totally different story.

Regardless of who runs the company, they don't have an accurate enough magic crystal ball to justify putting investor level risks on customers.

RoadStress

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Quote from: jimmothy on June 09, 2014, 05:07:05 PM

It doesn't matter what my or anyones guess is. We are in the era of in stock hardware where you don't need to guess or buy a high tech magic crystal ball to not get ripped off.

Also none of those guesses were mine. They were estimations made by FC which were subject to change. They never sold preorders so not hitting specs/dates is not a problem because as investors we agree to take those risks. It is simply bullshit to put all the risks of the investors on the "customers" and give them none of the reward that the actual investors get.

Don't judge by the past failed companies ran by crooks (BFL) or just bad intended people (TerraHash, HashFail etc) with SP-Tech who is ran by top 2 Israeli VC companies. It's a totally different story.

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Well they did sell ~5PH worth of hardware (at 40 sp10/day) and I'm guessing they made a profit of ~$2/gh average so they should have plenty of money.

How exactly do preorders benefit the customers at all?

2$/GH profit? So that means that an SP10 that has 1450GH makes them $2900 profit? But it was sold for less than that. How can they have such a profit if they sold it for less than $2900? Your calculations are way way off.

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Difference is you earn a hefty % of each sale where as I earn next to nothing per sale. I have nothing to gain by convincing individual people to buy rxboxes. The petahash mines are what will affect my dividends and naturally those whales will gravitate towards the best deals regardless of what I have to say.

Hefty? Again you are talking without knowing just like you did with their profit. Please define hefty. You like to assume a lot of things. Maybe I will disclose my %, but remember that I'm giving away 2% of the total hashrate sold. You may gain close to nothing per sale, but in the long run you benefit too from their sales so let's not ignore it.

jimmothy

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Quote from: RoadStress on June 09, 2014, 04:46:56 PM

Quote from: jimmothy on June 09, 2014, 04:30:36 PM

Quote from: RoadStress on June 09, 2014, 04:00:38 PM

Quote from: jimmothy on June 09, 2014, 02:05:58 PM

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SP30 will be 2400 Watts for 6 TH/s!!!!

That's simply not true.

One month and a half and it will be true!

No it won't. They advertise 2500w for 6th/s plus or minus 10% (my guess is minus). They are extremely optimistic with their estimations assuming that they will have 0.43w/gh while overclocked. That is more than 40% less than the sp10 underclocked. A die shrink should only expect 30% improvement in efficiency.

What was your guess about AM gen3 chip performance? I am sure it wasn't 1.1W/GH like it came out. You also guessed that you will receive dividends in May and you failed again. Your guesses seems to be a bit off.

It doesn't matter what my or anyones guess is. We are in the era of in stock hardware where you don't need to guess or buy a high tech magic crystal ball to not get ripped off.

Also none of those guesses were mine. They were estimations made by FC which were subject to change. They never sold preorders so not hitting specs/dates is not a problem because as investors we agree to take those risks. It is simply bullshit to put all the risks of the investors on the "customers" and give them none of the reward that the actual investors get.

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This is the worst explanation I've heard. They have more than enough money to buy all the components for all 3 batches if they wanted to.

They chose to go with preorders because they know that they cannot sell their hardware for ~$1/gh in 3 months and by doing so they put tons of unnecessary additional risks on their customers.

Nobody knows their financing books so please don't speak without proof. This is just a reason. I am sure that there are more which favor the customers.

Well they did sell ~5PH worth of hardware (at 40 sp10/day) and I'm guessing they made a profit of ~$2/gh average so they should have plenty of money.

How exactly do preorders benefit the customers at all?

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I'd also suggest never believing anyone trying to sell you something as an affiliate.

Why is that? 1% of the total hashrate sold through my affiliate link will go to charities and bitcoin software developers.

And be honest. I am not the only one with an affiliation. You are affiliated with HashRatio too. Not directly, but indirectly by being an AM shareholder. So at least I let OP know that my sig is an affiliate link while you pretend to not have any affiliation whatsoever.

Difference is you earn a hefty % of each sale where as I earn next to nothing per sale. I have nothing to gain by convincing individual people to buy rxboxes. The petahash mines are what will affect my dividends and naturally those whales will gravitate towards the best deals regardless of what I have to say.

ChuckBuck

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better everyday ♥

Ahh so that's why Jimmothy waves the pom poms so hard for any AM gen 3 related gear. Shocked

He has stake with them, didn't know that.

Makes sense for Jim to keep supporting them, because if he doesn't no one else will. Tongue

RoadStress

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Quote from: jimmothy on June 09, 2014, 04:30:36 PM

Quote from: RoadStress on June 09, 2014, 04:00:38 PM

Quote from: jimmothy on June 09, 2014, 02:05:58 PM

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SP30 will be 2400 Watts for 6 TH/s!!!!

That's simply not true.

One month and a half and it will be true!

No it won't. They advertise 2500w for 6th/s plus or minus 10% (my guess is minus). They are extremely optimistic with their estimations assuming that they will have 0.43w/gh while overclocked. That is more than 40% less than the sp10 underclocked. A die shrink should only expect 30% improvement in efficiency.

What was your guess about AM gen3 chip performance? I am sure it wasn't 1.1W/GH like it came out. You also guessed that you will receive dividends in May and you failed again. Your guesses seems to be a bit off.

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This is the worst explanation I've heard. They have more than enough money to buy all the components for all 3 batches if they wanted to.

They chose to go with preorders because they know that they cannot sell their hardware for ~$1/gh in 3 months and by doing so they put tons of unnecessary additional risks on their customers.

Nobody knows their financing books so please don't speak without proof. This is just a reason. I am sure that there are more which favor the customers.

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I'd also suggest never believing anyone trying to sell you something as an affiliate.

Why is that? 1% of the total hashrate sold through my affiliate link will go to charities and bitcoin software developers.

And be honest. I am not the only one with an affiliation. You are affiliated with HashRatio too. Not directly, but indirectly by being an AM shareholder. So at least I let OP know that my sig is an affiliate link while you pretend to not have any affiliation whatsoever.

jimmothy

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Quote from: RoadStress on June 09, 2014, 04:00:38 PM

Quote from: jimmothy on June 09, 2014, 02:05:58 PM

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SP30 will be 2400 Watts for 6 TH/s!!!!

That's simply not true.

One month and a half and it will be true!

No it won't. They advertise 2500w for 6th/s plus or minus 10% (my guess is minus). They are extremely optimistic with their estimations assuming that they will have 0.43w/gh while overclocked. That is more than 40% less than the sp10 underclocked. A die shrink should only expect 30% improvement in efficiency.

Quote from: jimmothy on June 09, 2014, 03:01:40 PM

Why would they not offer in stock sp30s as soon as they get them?

Because having a a couple hundred/thousand units in stock needs a lot of components ordered first and a lot of preparing.

This is the worst explanation I've heard. They have more than enough money to buy all the components for all 3 batches if they wanted to.

They chose to go with preorders because they know that they cannot sell their hardware for ~$1/gh in 3 months and by doing so they put tons of unnecessary additional risks on their customers.

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I suggest you to get lots of SP30 miner. It has the best $/GH and the lowest W/GH. Check my sig (affiliate link + donations if you buy through it).

I'd also suggest never believing anyone trying to sell you something as an affiliate.

Topic: Considering to start solo mining, thoughts? (Read 2606 times)