Difficulty increase Feb 2018? | Bitcointalksearch.org

The Demon Slick

newbie

Activity: 182

Merit: 0

Quote from: A.Delaney on February 05, 2018, 11:58:06 PM

My power cost is $.11/kWh. It’s still profitable right now for me. I am small enough though I can just pay my power bill out of pocket and that’s what I’ve been doing. I haven’t cashed in any BTC to pay for power. Only to buy more equipment.

This is what I'm doing too, mining, holding, paying the bills from my regular job. Everything is moving right now, it's a huge shakeup, and we just have to wait to see where it all lands. I continue to believe that this is all temporary and we will see things get back to normal in a couple weeks, after the Chinese New Year on the 18th. However, I'm prepared to mine at a loss for years if necessary. There will come a time eventually where it will all come back to me and more.

A.Delaney

member

Activity: 266

Merit: 13

Im sure a solar setup like that isn’t cheap. How long would it take to get your money back on 2 acres of panels?

philipma1957

legendary

Activity: 4256

Merit: 8551

'The right to privacy matters'

Quote from: Raymond_B on February 05, 2018, 11:51:13 PM

Quote from: philipma1957 on February 05, 2018, 11:46:23 PM

Quote from: Raymond_B on February 05, 2018, 10:23:53 PM

Quote from: ?? on ??

Quote from: philipma1957 on February 05, 2018, 05:59:02 PM

This link is good https://btc.com/stats/diff

they have a 11-12% jump

Here is a manual calculation below

507,862......2018-02-05 17:43:33 current block

506,016......2018-01-25 01:48:20 last jump

1,846 blocks in 11 days and 16 hours

11 x 144 = 1584

16 x 6 = 96

so 1680 = 0%

1846/1680 = 1.098809 - 1.000 = 9.8809% jump right now

better ways to think of it are

the s-9 does 13000 gh at 1400 watts if you pay 13 cent power

it earns 8.80 and you spend 4.03 in power that is a 4.77 a day profit for it. so 500 days for break even

WOW...500 days ROI. assuming no more large jumps in diff. ( inevitable )

We really need to see 20 - 30 TH miners at reasonable power consumption.

Who the F mines at 0.13 kw/hr... Jesus, some of you guys like jacking with the numbers to try to make your perception everyone else's reality...

I mine and make a lot at 13 cents been doing it for years. in fact I am not even 13 cents all year long my summer rates are 16.7 plus some extra ac mmaybe 1 cent.

and I do not mine 1 s-9 and 1 six card gpu rig. I do 3kwatt to 8 kwatts

the rest is in 50-50 deals with a solar array and an office complex. = these deals save me in times like this.

So other then huge bull runs I deal with 30 to 60% power cost all the time.

So while a big guy may do five cents or less. The last 3 months have brought in a ton of people at 10 13 20 even 30 cents or more

These people have zero idea of what to do right now.

And if you note that I get hundreds of pms from small miners I know whom I am talking to.

Not the 1000 plus s-9 miner

or the 1000 plus six card rig miner.

I have zero care for them.

I actually want things to get bad enough for them to shut down and flood the market with gear.

Since my office deal and my solar deal will still allow me to mine never exceeding a 50% power cost.

yeah the 3-8 kwatts at home may become a loser but that works for me. since the solar and office deal are big enough to cover me.

Phil, I would argue you are an anomaly, you offset your costs with hardware sales and other activities of an established respected forum member.

I would say I am more sales and helping people setup and get into game then just mining.

If I was going to mine and mine in NJ with no sales.

I would build a solar array of 2 acres on a 7 acre lot
And each year I would grow the array until it was 6 acres.

A.Delaney

member

Activity: 266

Merit: 13

My power cost is $.11/kWh. It’s still profitable right now for me. I am small enough though I can just pay my power bill out of pocket and that’s what I’ve been doing. I haven’t cashed in any BTC to pay for power. Only to buy more equipment.

Raymond_B

member

Activity: 504

Merit: 71

Just Getting Started...

Quote from: philipma1957 on February 05, 2018, 11:46:23 PM

Quote from: Raymond_B on February 05, 2018, 10:23:53 PM

Quote from: ?? on ??

Quote from: philipma1957 on February 05, 2018, 05:59:02 PM

This link is good https://btc.com/stats/diff

they have a 11-12% jump

Here is a manual calculation below

507,862......2018-02-05 17:43:33 current block

506,016......2018-01-25 01:48:20 last jump

1,846 blocks in 11 days and 16 hours

11 x 144 = 1584

16 x 6 = 96

so 1680 = 0%

1846/1680 = 1.098809 - 1.000 = 9.8809% jump right now

better ways to think of it are

the s-9 does 13000 gh at 1400 watts if you pay 13 cent power

it earns 8.80 and you spend 4.03 in power that is a 4.77 a day profit for it. so 500 days for break even

WOW...500 days ROI. assuming no more large jumps in diff. ( inevitable )

We really need to see 20 - 30 TH miners at reasonable power consumption.

Who the F mines at 0.13 kw/hr... Jesus, some of you guys like jacking with the numbers to try to make your perception everyone else's reality...

I mine and make a lot at 13 cents been doing it for years. in fact I am not even 13 cents all year long my summer rates are 16.7 plus some extra ac mmaybe 1 cent.

and I do not mine 1 s-9 and 1 six card gpu rig. I do 3kwatt to 8 kwatts

the rest is in 50-50 deals with a solar array and an office complex. = these deals save me in times like this.

So other then huge bull runs I deal with 30 to 60% power cost all the time.

So while a big guy may do five cents or less. The last 3 months have brought in a ton of people at 10 13 20 even 30 cents or more

These people have zero idea of what to do right now.

And if you note that I get hundreds of pms from small miners I know whom I am talking to.

Not the 1000 plus s-9 miner

or the 1000 plus six card rig miner.

I have zero care for them.

I actually want things to get bad enough for them to shut down and flood the market with gear.

Since my office deal and my solar deal will still allow me to mine never exceeding a 50% power cost.

yeah the 3-8 kwatts at home may become a loser but that works for me. since the solar and office deal are big enough to cover me.

Phil, I would argue you are an anomaly, you offset your costs with hardware sales and other activities of an established respected forum member.

philipma1957

legendary

Activity: 4256

Merit: 8551

'The right to privacy matters'

Quote from: Raymond_B on February 05, 2018, 10:23:53 PM

Quote from: ?? on ??

Quote from: philipma1957 on February 05, 2018, 05:59:02 PM

This link is good https://btc.com/stats/diff

they have a 11-12% jump

Here is a manual calculation below

507,862......2018-02-05 17:43:33 current block

506,016......2018-01-25 01:48:20 last jump

1,846 blocks in 11 days and 16 hours

11 x 144 = 1584

16 x 6 = 96

so 1680 = 0%

1846/1680 = 1.098809 - 1.000 = 9.8809% jump right now

better ways to think of it are

the s-9 does 13000 gh at 1400 watts if you pay 13 cent power

it earns 8.80 and you spend 4.03 in power that is a 4.77 a day profit for it. so 500 days for break even

WOW...500 days ROI. assuming no more large jumps in diff. ( inevitable )

We really need to see 20 - 30 TH miners at reasonable power consumption.

Who the F mines at 0.13 kw/hr... Jesus, some of you guys like jacking with the numbers to try to make your perception everyone else's reality...

I mine and make a lot at 13 cents been doing it for years. in fact I am not even 13 cents all year long my summer rates are 16.7 plus some extra ac mmaybe 1 cent.

and I do not mine 1 s-9 and 1 six card gpu rig. I do 3kwatt to 8 kwatts

the rest is in 50-50 deals with a solar array and an office complex. = these deals save me in times like this.

So other then huge bull runs I deal with 30 to 60% power cost all the time.

So while a big guy may do five cents or less. The last 3 months have brought in a ton of people at 10 13 20 even 30 cents or more

These people have zero idea of what to do right now.

And if you note that I get hundreds of pms from small miners I know whom I am talking to.

Not the 1000 plus s-9 miner

or the 1000 plus six card rig miner.

I have zero care for them.

I actually want things to get bad enough for them to shut down and flood the market with gear.

Since my office deal and my solar deal will still allow me to mine never exceeding a 50% power cost.

yeah the 3-8 kwatts at home may become a loser but that works for me. since the solar and office deal are big enough to cover me.

Biomech

legendary

Activity: 1372

Merit: 1022

Anarchy is not chaos.

Quote from: Raymond_B on February 05, 2018, 09:46:27 PM

Quote from: lossol on February 05, 2018, 09:40:28 PM

Yep, it's better to buy cryptos now than to mine it.

As we are all getting a haircut? BTC and alts are hurty at the moment. Speculation has always been one method, but I'd argue you'd be way more secure long term in mining.

I would take the middle position and say do both. I mine (alts, ain't got the money for ASIC devices), and I trade. I honestly make more money trading, but I make money mining, and I enjoy both, so they are both profitable in ways beyond money.

Why I think this approach is better for the general ecosystem is that trading is what drives price, but a secure blockchain is what sustains it. Both are necessary to the cryptocurrency ecosphere, so why not diversify?

And let's not forget POS minting, either. Never put your eggs in one basket Cheesy

Raymond_B

member

Activity: 504

Merit: 71

Just Getting Started...

Quote from: ?? on ??

Quote from: lossol on February 05, 2018, 11:11:42 PM

Well, buying bitcoin is a one time transaction with no additional costs even it bitcoin doesn't go up. Mining has a daily cost even if bitcoin doesn't go up. So the more secure thing to do would be to buy and not mine for now.

I would say it's more important now than ever to push for more mining decentralization.

I would argue; mining **supplier* decentralization.

lossol

newbie

Activity: 73

Merit: 0

Well, buying bitcoin is a one time transaction with no additional costs even it bitcoin doesn't go up. Mining has a daily cost even if bitcoin doesn't go up. So the more secure thing to do would be to buy and not mine for now.

Raymond_B

member

Activity: 504

Merit: 71

Just Getting Started...

Quote from: ?? on ??

Quote from: philipma1957 on February 05, 2018, 05:59:02 PM

This link is good https://btc.com/stats/diff

they have a 11-12% jump

Here is a manual calculation below

507,862......2018-02-05 17:43:33 current block

506,016......2018-01-25 01:48:20 last jump

1,846 blocks in 11 days and 16 hours

11 x 144 = 1584

16 x 6 = 96

so 1680 = 0%

1846/1680 = 1.098809 - 1.000 = 9.8809% jump right now

better ways to think of it are

the s-9 does 13000 gh at 1400 watts if you pay 13 cent power

it earns 8.80 and you spend 4.03 in power that is a 4.77 a day profit for it. so 500 days for break even

WOW...500 days ROI. assuming no more large jumps in diff. ( inevitable )

We really need to see 20 - 30 TH miners at reasonable power consumption.

Who the F mines at 0.13 kw/hr... Jesus, some of you guys like jacking with the numbers to try to make your perception everyone else's reality...

Raymond_B

member

Activity: 504

Merit: 71

Just Getting Started...

Quote from: lossol on February 05, 2018, 10:07:57 PM

Mining is all about making a profit after paying all other costs. If your expenses exceed your return on a monthly basis, how is that more secure long term? If I have to pay $500 every month in electricity costs until bitcoin becomes profitable again, how is that more secure? This downturn could last 2 years.

Um OK? That downturn affects both mining AND speculation. You can't win at speculating if it doesn't go up... I dare you to go play in this chop and produce any sort of reliable income. I never said I do not do both, I made a hefty buy earlier today and am fast approaching another. But again, without an upswing all I did was take some capital out of play...

lossol

newbie

Activity: 73

Merit: 0

Mining is all about making a profit after paying all other costs. If your expenses exceed your return on a monthly basis, how is that more secure long term? If I have to pay $500 every month in electricity costs until bitcoin becomes profitable again, how is that more secure? This downturn could last 2 years.

Raymond_B

member

Activity: 504

Merit: 71

Just Getting Started...

Quote from: lossol on February 05, 2018, 09:40:28 PM

Yep, it's better to buy cryptos now than to mine it.

As we are all getting a haircut? BTC and alts are hurty at the moment. Speculation has always been one method, but I'd argue you'd be way more secure long term in mining.

Raymond_B

member

Activity: 504

Merit: 71

Just Getting Started...

Quote from: fanatic26 on February 05, 2018, 06:49:34 PM

Quote from: ?? on ??

which is uncompetitive if people are looking at just $$ mining alt coins on 1070s or 1080ti's has a much faster ROI and better resale down the road.

I just gotta know how much crack you are smoking to think you can ROI with a 1080Ti faster than an ASIC at the insane markup prices the GPU market is experiencing.

Thank you, while GPU mining has it's benefits it's far from the end all be all. I repeatedly see these sockpuppets posting about how GPU is the only way...

It's not, it is just a different tool-set.

lossol

newbie

Activity: 73

Merit: 0

If they purchased the GPUs before the pricing went nuts, they might be making a better profit than an ASIC as bitcoin is falling faster than any of the other altcoins. Yep, it's better to buy cryptos now than to mine it.

lossol

newbie

Activity: 73

Merit: 0

Difficulty is still playing catch up to price so it's going higher even tho BTC is falling.

fanatic26

hero member

Activity: 756

Merit: 560

Quote from: ?? on ??

which is uncompetitive if people are looking at just $$ mining alt coins on 1070s or 1080ti's has a much faster ROI and better resale down the road.

I just gotta know how much crack you are smoking to think you can ROI with a 1080Ti faster than an ASIC at the insane markup prices the GPU market is experiencing.

philipma1957

legendary

Activity: 4256

Merit: 8551

'The right to privacy matters'

This link is good https://btc.com/stats/diff

they have a 11-12% jump

Here is a manual calculation below

507,862......2018-02-05 17:43:33 current block

506,016......2018-01-25 01:48:20 last jump

1,846 blocks in 11 days and 16 hours

11 x 144 = 1584

16 x 6 = 96

so 1680 = 0%

1846/1680 = 1.098809 - 1.000 = 9.8809% jump right now

better ways to think of it are

the s-9 does 13000 gh at 1400 watts if you pay 13 cent power

it earns 8.80 and you spend 4.03 in power that is a 4.77 a day profit for it. so 500 days for break even

fanatic26

hero member

Activity: 756

Merit: 560

Nothing extreme about it, this is mining functioning as intended. Go take a look at how much the network speed has increased in the last 45 days.

crypto_curious

full member

Activity: 933

Merit: 175

Yeah, difficulty will double in matter of few months. Expect no else. If you don't have free electricity, it will be difficult to have ROI and profits. Better just buy Bitcoin and hodl.

Topic: Difficulty increase Feb 2018? (Read 628 times)