Topic: End of industrial mining profitability at 246128630902 difficulty =897% increase (Read 2542 times)
September 06, 2014, 12:31:24 PM
A chart for the cost of creating 1 bitcoins
September 03, 2014, 03:35:51 PM
I say we all pitch in and help him take a class on web design
Totally.
September 03, 2014, 03:34:36 PM
I say we all pitch in and help him take a class on web design
September 03, 2014, 03:12:41 PM
The Coin Foundry has 3.6MW of available capacity right now in Texas at 5 cents
The Coin Foundry web site is hosted on shared hosting at 31.170.160.112, which is shared free hosting at 000webhost.com. They didn't even pay the $4.84/month to make the ad banner go away. It's probably a kid in their parents basement.
Definitely. Their page is written by a kid -- http://www.thecoinfoundry.com/About-us/
Do you know the founder?
Definitely not a kid...
September 03, 2014, 02:58:12 PM
The Coin Foundry has 3.6MW of available capacity right now in Texas at 5 cents
The Coin Foundry web site is hosted on shared hosting at 31.170.160.112, which is shared free hosting at 000webhost.com. They didn't even pay the $4.84/month to make the ad banner go away. It's probably a kid in their parents basement.
Definitely. Their page is written by a kid -- http://www.thecoinfoundry.com/About-us/
September 03, 2014, 02:14:43 PM
The Coin Foundry has 3.6MW of available capacity right now in Texas at 5 cents
The Coin Foundry has 8MW in Washington at 5 cents
The Coin Foundry has 2 MW in Virginia at 7 cents.
The facilities are prepped and you can move into the Texas and Virginia ones this weekend.
The Coin Foundry has 6 other buildings at 20+ MW each around the US at 5-7 cents power they are performing due diligence on.
What kills me is the hair splitting over 1-2 cents for the guys at megawatt scale.
You know what kills profitability fastest?
NOT STARTING TO MINE TODAY.
http://www.thecoinfoundry.com - only Dallas is up on the site, they just got control of Virginia and Washington Friday. Dallas may be gone by next week with a miner shipping 100 rigs this month and 300 next month.
The Coin Foundry has 8MW in Washington at 5 cents
The Coin Foundry has 2 MW in Virginia at 7 cents.
The facilities are prepped and you can move into the Texas and Virginia ones this weekend.
The Coin Foundry has 6 other buildings at 20+ MW each around the US at 5-7 cents power they are performing due diligence on.
What kills me is the hair splitting over 1-2 cents for the guys at megawatt scale.
You know what kills profitability fastest?
NOT STARTING TO MINE TODAY.
http://www.thecoinfoundry.com - only Dallas is up on the site, they just got control of Virginia and Washington Friday. Dallas may be gone by next week with a miner shipping 100 rigs this month and 300 next month.
Yea, start mining today! Jump in with both feet even though difficulty is going through the roof and profitability is in the toilet. We offer prices so low that they are unbelievable. Hooray!
Given that the mean average price is $300/kw for rent in a comparable facility, getting the same thing for $125 is a deal and will give you a 65%+ reduction in cost which could throw someone over the fence to profitability. Can't comment on the difficulty, can't you just buy faster rigs?
September 03, 2014, 02:11:32 PM
The Coin Foundry has 3.6MW of available capacity right now in Texas at 5 cents
The Coin Foundry has 8MW in Washington at 5 cents
The Coin Foundry has 2 MW in Virginia at 7 cents.
The facilities are prepped and you can move into the Texas and Virginia ones this weekend.
The Coin Foundry has 6 other buildings at 20+ MW each around the US at 5-7 cents power they are performing due diligence on.
What kills me is the hair splitting over 1-2 cents for the guys at megawatt scale.
You know what kills profitability fastest?
NOT STARTING TO MINE TODAY.
http://www.thecoinfoundry.com - only Dallas is up on the site, they just got control of Virginia and Washington Friday. Dallas may be gone by next week with a miner shipping 100 rigs this month and 300 next month.
The Coin Foundry has 8MW in Washington at 5 cents
The Coin Foundry has 2 MW in Virginia at 7 cents.
The facilities are prepped and you can move into the Texas and Virginia ones this weekend.
The Coin Foundry has 6 other buildings at 20+ MW each around the US at 5-7 cents power they are performing due diligence on.
What kills me is the hair splitting over 1-2 cents for the guys at megawatt scale.
You know what kills profitability fastest?
NOT STARTING TO MINE TODAY.
http://www.thecoinfoundry.com - only Dallas is up on the site, they just got control of Virginia and Washington Friday. Dallas may be gone by next week with a miner shipping 100 rigs this month and 300 next month.
Its $125,000 per MW per month, dumbfck. Do you know how to do math?
Tell me how much it is per KWh.
I did.
September 03, 2014, 04:04:24 AM
The Coin Foundry has 3.6MW of available capacity right now in Texas at 5 cents
The Coin Foundry web site is hosted on shared hosting at 31.170.160.112, which is shared free hosting at 000webhost.com. They didn't even pay the $4.84/month to make the ad banner go away. It's probably a kid in their parents basement.
September 03, 2014, 01:21:26 AM
The Coin Foundry has 3.6MW of available capacity right now in Texas at 5 cents
The Coin Foundry has 8MW in Washington at 5 cents
The Coin Foundry has 2 MW in Virginia at 7 cents.
The facilities are prepped and you can move into the Texas and Virginia ones this weekend.
The Coin Foundry has 6 other buildings at 20+ MW each around the US at 5-7 cents power they are performing due diligence on.
What kills me is the hair splitting over 1-2 cents for the guys at megawatt scale.
You know what kills profitability fastest?
NOT STARTING TO MINE TODAY.
http://www.thecoinfoundry.com - only Dallas is up on the site, they just got control of Virginia and Washington Friday. Dallas may be gone by next week with a miner shipping 100 rigs this month and 300 next month.
The Coin Foundry has 8MW in Washington at 5 cents
The Coin Foundry has 2 MW in Virginia at 7 cents.
The facilities are prepped and you can move into the Texas and Virginia ones this weekend.
The Coin Foundry has 6 other buildings at 20+ MW each around the US at 5-7 cents power they are performing due diligence on.
What kills me is the hair splitting over 1-2 cents for the guys at megawatt scale.
You know what kills profitability fastest?
NOT STARTING TO MINE TODAY.
http://www.thecoinfoundry.com - only Dallas is up on the site, they just got control of Virginia and Washington Friday. Dallas may be gone by next week with a miner shipping 100 rigs this month and 300 next month.
Its $125,000 per MW per month, dumbfck. Do you know how to do math?
Tell me how much it is per KWh.
September 02, 2014, 09:57:59 PM
The Coin Foundry has 3.6MW of available capacity right now in Texas at 5 cents
The Coin Foundry has 8MW in Washington at 5 cents
The Coin Foundry has 2 MW in Virginia at 7 cents.
The facilities are prepped and you can move into the Texas and Virginia ones this weekend.
The Coin Foundry has 6 other buildings at 20+ MW each around the US at 5-7 cents power they are performing due diligence on.
What kills me is the hair splitting over 1-2 cents for the guys at megawatt scale.
You know what kills profitability fastest?
NOT STARTING TO MINE TODAY.
http://www.thecoinfoundry.com - only Dallas is up on the site, they just got control of Virginia and Washington Friday. Dallas may be gone by next week with a miner shipping 100 rigs this month and 300 next month.
The Coin Foundry has 8MW in Washington at 5 cents
The Coin Foundry has 2 MW in Virginia at 7 cents.
The facilities are prepped and you can move into the Texas and Virginia ones this weekend.
The Coin Foundry has 6 other buildings at 20+ MW each around the US at 5-7 cents power they are performing due diligence on.
What kills me is the hair splitting over 1-2 cents for the guys at megawatt scale.
You know what kills profitability fastest?
NOT STARTING TO MINE TODAY.
http://www.thecoinfoundry.com - only Dallas is up on the site, they just got control of Virginia and Washington Friday. Dallas may be gone by next week with a miner shipping 100 rigs this month and 300 next month.
Yea, start mining today! Jump in with both feet even though difficulty is going through the roof and profitability is in the toilet. We offer prices so low that they are unbelievable. Hooray!
September 02, 2014, 09:29:52 PM
The Coin Foundry has 3.6MW of available capacity right now in Texas at 5 cents
The Coin Foundry has 8MW in Washington at 5 cents
The Coin Foundry has 2 MW in Virginia at 7 cents.
The facilities are prepped and you can move into the Texas and Virginia ones this weekend.
The Coin Foundry has 6 other buildings at 20+ MW each around the US at 5-7 cents power they are performing due diligence on.
What kills me is the hair splitting over 1-2 cents for the guys at megawatt scale.
You know what kills profitability fastest?
NOT STARTING TO MINE TODAY.
http://www.thecoinfoundry.com - only Dallas is up on the site, they just got control of Virginia and Washington Friday. Dallas may be gone by next week with a miner shipping 100 rigs this month and 300 next month.
The Coin Foundry has 8MW in Washington at 5 cents
The Coin Foundry has 2 MW in Virginia at 7 cents.
The facilities are prepped and you can move into the Texas and Virginia ones this weekend.
The Coin Foundry has 6 other buildings at 20+ MW each around the US at 5-7 cents power they are performing due diligence on.
What kills me is the hair splitting over 1-2 cents for the guys at megawatt scale.
You know what kills profitability fastest?
NOT STARTING TO MINE TODAY.
http://www.thecoinfoundry.com - only Dallas is up on the site, they just got control of Virginia and Washington Friday. Dallas may be gone by next week with a miner shipping 100 rigs this month and 300 next month.
September 02, 2014, 09:22:27 PM
Assuming 5 cents/kWh is way too low.
In my opinion, about the least expensive cost you're going to see is around 10 cents / kWh including all other costs for an industrial mining operation. Keep in mind that they also need to pay for facilities, cooling, equipment, and salaries in that 10 cents / kWh cost.
The Toomin brothers have one of the most efficient data centers I've seen with extremely cheap central Washington power, and even they charge ~10 cents / kWh for a one year contract.
http://toom.im
In my opinion, about the least expensive cost you're going to see is around 10 cents / kWh including all other costs for an industrial mining operation. Keep in mind that they also need to pay for facilities, cooling, equipment, and salaries in that 10 cents / kWh cost.
The Toomin brothers have one of the most efficient data centers I've seen with extremely cheap central Washington power, and even they charge ~10 cents / kWh for a one year contract.
http://toom.im
so if they charge that then it cost them less. the bigger builders of asics will end up with a complete data center. all theirs and most mining will be in colder places so cut heating bills down. I wonder if a country like Norway will plenty of cold and plenty of oil will make a government subsidized super data-center. with truly lowball power.
September 02, 2014, 09:05:06 PM
Assuming 5 cents/kWh is way too low.
In my opinion, about the least expensive cost you're going to see is around 10 cents / kWh including all other costs for an industrial mining operation. Keep in mind that they also need to pay for facilities, cooling, equipment, and salaries in that 10 cents / kWh cost.
The Toomin brothers have one of the most efficient data centers I've seen with extremely cheap central Washington power, and even they charge ~10 cents / kWh for a one year contract.
http://toom.im
In my opinion, about the least expensive cost you're going to see is around 10 cents / kWh including all other costs for an industrial mining operation. Keep in mind that they also need to pay for facilities, cooling, equipment, and salaries in that 10 cents / kWh cost.
The Toomin brothers have one of the most efficient data centers I've seen with extremely cheap central Washington power, and even they charge ~10 cents / kWh for a one year contract.
http://toom.im
September 02, 2014, 07:00:51 PM
At the current price per coin with a "conservative" 10 % hashrate increase per adjustment, we will reach this point in (23*2)*0.9=41.4 weeks.
That is a 897% increase of the current difficulty. Quite interesting informations if you think about the future nethash and the future of bitcoin mining.
I made the calculation based on a antminer s3 and a 440gh/366watt ratio running with 5 cent/kw. I think this is one of the lowest electricity prices possible.
http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=440.00&p=366.00&pc=0.05&pf=0.00&d=246128630902.25800000&r=25.00000000&er=487.15000000&hc=0.00
The question is, how much more efficient future miners will be ?
That is a 897% increase of the current difficulty. Quite interesting informations if you think about the future nethash and the future of bitcoin mining.
I made the calculation based on a antminer s3 and a 440gh/366watt ratio running with 5 cent/kw. I think this is one of the lowest electricity prices possible.
http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=440.00&p=366.00&pc=0.05&pf=0.00&d=246128630902.25800000&r=25.00000000&er=487.15000000&hc=0.00
The question is, how much more efficient future miners will be ?
| Difficulty Adjustment 27428630902.00 0 30171493992.20 1 33188643391.42 2 36507507730.56 3 40158258503.62 4 44174084353.98 5 48591492789.38 6 53450642068.32 7 58795706275.15 8 64675276902.66 9 71142804592.93 10 78257085052.22 11 86082793557.44 12 94691072913.19 13 104160180204.51 14 114576198224.96 15 126033818047.45 16 138637199852.20 17 152500919837.42 18 167751011821.16 19 184526113003.28 20 202978724303.60 21 223276596733.96 22 245604256407.36 23 |
so if the top 5 builders of asics stop building them growth drops to 3-5%. To me this is what will happen.
.6watt becomes common like the s-4 plug in a .6 watt 500 usd a coin 7% growth and 5 cents a watt you get 69 weeks
September 02, 2014, 06:53:13 PM
Yes, that is true. But i make my assumption only regarding industrial mining operations, who get their miners directly from the faculty and pay a very low electricity price. The regular amateur miner is out of the game for a long time already, i guess.
Oh yeah well the industrial miners are more or less the very same people who designed the ASICs - KNC, Bitmain, BFL, Avalon, Bitfury, AM etc.
I'm sure they will have a little meeting and make a "gentleman's agreement" to limit the growth - kind of like a nuclear armistice
Game theory says no. Its no matter what alliance you got, someone will make the first move.
September 02, 2014, 06:50:15 PM
At the current price per coin with a "conservative" 10 % hashrate increase per adjustment, we will reach this point in (23*2)*0.9=41.4 weeks.
I'm pretty sure the price per coin won't stay this low for the next 40 weeks.
September 02, 2014, 01:23:16 PM
Yes, that is true. But i make my assumption only regarding industrial mining operations, who get their miners directly from the faculty and pay a very low electricity price. The regular amateur miner is out of the game for a long time already, i guess.
Oh yeah well the industrial miners are more or less the very same people who designed the ASICs - KNC, Bitmain, BFL, Avalon, Bitfury, AM etc.
I'm sure they will have a little meeting and make a "gentleman's agreement" to limit the growth - kind of like a nuclear armistice
Haha, yes that might be very true.
For myself, i just can't imagine that the bitcoin price will stay under 500$ for the next 8 months. That means the mining arms race wont stop for a long time. September 02, 2014, 01:19:35 PM
Yes, that is true. But i make my assumption only regarding industrial mining operations, who get their miners directly from the faculty and pay a very low electricity price. The regular amateur miner is out of the game for a long time already, i guess.
Oh yeah well the industrial miners are more or less the very same people who designed the ASICs - KNC, Bitmain, BFL, Avalon, Bitfury, AM etc.
I'm sure they will have a little meeting and make a "gentleman's agreement" to limit the growth - kind of like a nuclear armistice
September 02, 2014, 12:46:25 PM
Yes, that is true. But i make my assumption only regarding industrial mining operations, who get their miners directly from the faculty and pay a very low electricity price. The regular amateur miner is out of the game for a long time already, i guess.
September 02, 2014, 12:42:49 PM
I found this: http://www.cryptocoinsnews.com/news/review-antminer-s3-450-ghs-bitcoin-asic-miner-bitmain/2014/07/25
It states 366 watt at the wall.
And they're incorrect. Bitmain's officially listed specs are 441GH/s at 340W from the wall. Initially announced specs were 504GH/s at 390W, which were reduced to 478GH/s at 366W and finally when the product was released it was 441GH/s at 340W. The new S3+ is 453GH/s at 355W.It states 366 watt at the wall.
Alright, that makes the S3+ profitable for one more adjustment.
But note that they will be shipping after this adjustment and most will not get their miners until the adjustment after that!
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