Topic: Deleted - page 11. (Read 26104 times)

LOL


Thank you

That goes both ways!

Good luck to you as well.

By the way, that sounds like something a Progressive would say rather than a Bitcoin Libertarian like myself.

I see no need to respond further. You seem to have been able to rationalize the irrational with questionable math and lots of words strung together. I wish you luck in your endeavors.

I read somewhere it was a DOS attack on the forum.

That was a trip!

Server must have been down or something.  I could not connect to bitcointalk.org for at least an hour.  Was it the same for everyone else?

You're damn right it is S5 speculation!!!

Someone is trying to say it's not worth getting an S5 and I'm betting it will be worth it and explaining why it will be worth it.

No details were stated about WHAT KIND of speculation regarding the S5.

Chill

If you want short 180 character responses, you should go to twitter.

This is a forum to gain information.  I'm out to help all of us who mine on pools to compete against the BIG solo farms in China or where ever they may be located.  I'm also open minded to any others who might can contribute towards this end.  

I'm simply trying to help any who mine from home not to give up in their contribution to the pools as we compete against large solo farms and cloud farms.  I'm also pointing out how the S5 would be a nice contribution to any home miners set up in our efforts to compete as a pool with the large solo farms and cloud farms.  If you think I'm wrong, then give an explanation why.  I'm open minded.  I'm all ears.

I thought I was the only on who spent a lot of time ensuring I remain profitable.

I was ambit depressed from having to shut down my mining rigs (profitability was approaching zero), but this made my day.

this is s5 speculation!!!! go write a book somewhere else!!!

No, didn't take much thought at all.  Why?  Did it really have to take a lot of thought?  Do you even know me?  Why do you have to choose words or phrases that are condescending?

Do you presume I'm ignorant or something based off what you have read in my post?  Can you not have an open mind instead of being focused on your own bitcoin mining intellectualism?  For all I know, you post this garb on here in the hopes that others who read will not mine or will not continue to mine.

I already had the pictures on my desktop from this same discussion in other forums and PM's.




You act like THEY will have a corner on the Billions of dollars worth yet to mine.  You act like the pools won't be able to mine another block after they do this.  That's why we have pools.  There is power in numbers.




That's why I'm getting ahead of the game while I can in terms of how much equipment I have to get well ahead of the difficulty and the revenue I want to bring home each month.  I'm adding an S4 if not an S5 to my small farm every month until end of April.  After April, I'm adding two S4's if not an S5 to my small farm every month until I have a 50 to 180 Th/s.

I spent $4,000.00 for 16 Bitmain Antminer S3's.  They mined enough BTC to buy an S4.  It only cost me $364.00 in electricity that I paid out of pocket to buy that S4.  

The way I see it, I got that S4 for $364.00 out of pocket.  I'm putting off the $4000.00 pay off of the S3's till a later date.  I'm paying for my electricity out of pocket and using all mined BTC to purchase more S4's or S5's.  So, like I said, I'm getting my S4's or S5's at a discount (the cost of electricity out of pocket to mine them).  

I'm PUTTING OFF paying the $4,000.00 initial investment until my mining revenue is much higher.  Once it gets to the point that my electricity is approximately $1,000.00 in costs each month, I will stop paying for the electricity out of pocket and use my mined BTC to pay for it.  That point in time will be end of April.  

At the end of April I will have approximately six (6) S4's and sixteen (16) S3's for a total of approximately 19.4 Th/s if not over clocked. At present difficulty, 19.6 Th/s can mine approximately 0.24722657 BTC per day.  That is approximately 7.4167971 BTC every 30 days.  You and I both know that difficulty will not remain at 39.5 billion.  It will climb.  How much?  Who knows?  The point is that puts me well ahead of the game IN THE BEGINNING before I'm even concerned about paying myself back for investment.  Keep in mind, I got my S4's if not S5's at a discount (what I paid in electricity costs).

7.4167971 BTC at present is approximately $3,142.79 with BTC price at $423.74 US.

Maybe you wish to argue that the difficulty will rise and I will not continue those profits?

Here is my argument:

For every 1 Billion the difficulty rises, the price of BTC can off set that rise in difficulty if it goes up .97519807% (approximately 1%).

Here is my proof:

Note the difficulty in the top left of the conversion calculator is at 39,629,645,941 THEN note that I added 1 billion to the difficulty at the next screen shot.  However, the revenue per time frame is approximately the same.  Why?  Because I raised the price of BTC .97519807% (approximately 1%); which see.  I raised the price of BTC from $424.65 US to $435.45 US.  We cannot say the price has to rise approximately $11.00 US every time the difficulty goes up 1 Billion.  We have to say it in percentages.

The reason I have $7,984 in equipment costs and not $4,000.00 is to include what I paid in electricity to get up to 19.4 Th/s; along with an exhaust fan, switch, etc...

ALSO NOTICE IT SAYS HARDWARE BREAK EVEN SHORTLY AFTER 100 DAYS FROM THE POINT OF ACHIEVING 19.4 Th/s.  That is IF I decided to stop adding another rig to my farm!







I understand if the difficulty goes up, we mine less bitcoin and need to add more hashing power IF the price of bitcoin remains the same.  However, if the price of bitcoin rises approximately 1% for every 1 billion the difficulty rises, it is offset.  Isn't it?  If I'm wrong, please let me know.



Sorry, but YES WE CAN.  That's why we have pools.  There is power in pools.  So what we don't make as much money as the big gigantic farms do.  I'm not trying to build a gigantic farm.  I cannot compete with them if I cannot obtain rigs at the same price they do.  I'm not trying to compete ON THAT LEVEL.  I'm simply working to get 50 to 180 TH/s as quickly as possible cause I'm betting the price of BTC will continue to rise at a slightly higher percentage than 1% for every 1 billion the difficulty rises.

The S5 would definitely be at the top of my list to choose if it's watts per Gh/s is lower than the S4 and it's COSTS per Gh/s is lower than the S4.

xstr8guy is right
Imagine a train with first, second and third class. We are at the back! and if the train picks-up speed then we will be thrown out thru the back! In the first class are the biggest farms!  speed = difficulty in %

so? is it gonna be 0,5w/1ghz?
same format as s1 and s3?
22 nm?20 nm?14 nm?16 nm?

You obviously put a lot of thought into this post but...

You don't seem to realize that mining, in the longterm, is a zero sum game. If BTC hits $900 again (and holds), all of the ASIC manufacturers will quickly fill their current DCs with more efficient equipment and build new DCs all with access to much cheaper electricity than you could ever dream of getting.

In the future there may be brief periods where there is a gap between higher price BTC and build-out of new DCs, just as there was last fall. And you may have good profitability during those times. But those periods will likely get shorter because the ASIC manufacturers are able to build-out more quickly and efficiently.

We simply can not compete with ASIC manufacturers. Home mining is and always will be a horrible longterm investment even if BTC gets to $2000. Only a few individuals who perfectly time the market may be able to earn a positive return.

It seems like to me approximately 90% of the posts here have not mentioned the price of BTC rising.

Yes, I know many of those who said home mining is dead were posting several weeks ago.  However, they never mentioned WHAT IF BTC rises.  Many with high electricity costs would just turn off their rigs and wait till BTC has risen to a point of profitability.

I did not have to turn off my rigs [Sixteen S3's @ 7.4 Th/s] because our power cost is the following:  $0.077823 the first 750 kWH's and $0.065823 after the first 750 kWH's during the winter.



I intend on building my home mining farm to 50 Th/s because I honestly believe BTC will get much higher than what it is right now once we get well past the fork.  I believe the S4 will get me there with no problem.  However, the mention of this S5 has me very interested.  I'll drop the money down to get the S5.  Especially, if it is less power hungry per Gh/s than the S4.

Do you notice where the fork in the road is located?  Exactly where we are right now in this moment in time.  I'm honestly considering getting the power company to install a 400 AMP service meter next to my 200 AMP service meter at my house once BTC gets above $900.00.  Notice, I did not say "IF."  I said "when" BTC gets above $900.00.  That additional 400 AMP service would help me get to 180 Th/s in my house.  I have a 13' x 25' room downstairs not used in the house with two windows to put four exhaust fans.  



If the S5 has its watts per Gh/s as low as the S4, it will be a big help in reducing our power costs and increasing our profits.  A lower watts per Gh/s would also be a big help with not being concerned as much about the difficulty creeping up on us.

I don't know if i agree with 1.   I for one watch it and if it is two high sell my gear to others with cheaper electricity i'm guessing when my profit level is to small.  I know i sold a miner this week out of my collection to a Hosting Center in Washington, about as cheap of electricity there as US has.   Also I pulled the plug on 8500 watts worth of GPU's when profit became very small quite a while ago.   I sold them bought coins and eventually more asics.

another facor to think of is that by mining, you effectively can "buy" bitcoins every month by paying your electric bill. Even if your mining is slightly unprofitable (say you mine 0.25BTC in a month and pay $105 in power costs) it might be cheaper and a lot easier than buying 0.25BTC/$100 (plus fees) through an exchange.

so it will be soon launched and still no details ?

I agree. Re mining/heating. It is somewhat true, but the most benefit is when the cost of heating by electricity is lower that the cost of heating by natural gas.
Right now (in US at least), natural gas is cheaper, so although you get heating benefit, I calculated that is it is at most 30% of miners' electricity cost.

Casual home miners have 2 advantages over mining farms:

1. They might not care about electricity cost
Some of the miners run their rig as heating devices, some of them are living in a apartment that electricity is included in the rent. Once the electricity cost is gone, they are forever profitable

2. They can run in underwater
Even the electricity cost is higher than the coins, miners just regard this as a hobby and using those costs to get some mining pleasure, like paying money to play a game: Operating your little gold mine is fun

On the contrary, large mining farms are business oriented, if they could not sell the mined coins at profit, they will take a loss. No business can run too long with a negative profit, the larger the scale the less likely they can hold on

As a result, those mining farms will be shutdown by a sustained high difficulty and low bitcoin price, and mining rigs will be sold to those fans who does not care about the electricity cost

To prevent such scenario from happening, large mining farms might seek ways to lower the electricity cost, team up with large power supplier or build their own power grid. Another way is to sell the heat as a service, for example providing warm water for apartments. so that they never run underwater. But both are long processes, without a firm believe in bitcoin, normal farms will just shutdown

Because of the exponentially higher cost of lower chip nm process, high efficiency miners will be very expensive thus incur a larger risk even before running, just like few people purchased FPGA miners in GPU era

Maybe in future, majority of the mining chips will be built into heating devices, and sold into high latitude area or heat providing companies

LOOOL !!

It looks like a galaxy photo to me, not bubbles. Maybe it runs so hot that it needs to be in the vacuum of space where it can't burst into flames. 

How much power does "The Boat Anchor" Bitcoin miner use?  I am interested.

True, but the issues with delayed shipping etc. on the S3 have people thinking it was a preorder thing aswell - at least, I think they wanted to get cash in right away, insted of waiting for stock to be ready and testing be completed.