Topic: [HAVELOCK] PETAMINE - 1,150 TH/S HASH RATE (1GH/S per Unit) - page 48. (Read 565829 times)

Recent difficulty spike is related to KNC miner.
They are shipping their Neptunes now.

I choose not to panic.

In the case of the Bitcoin network exponential growth won't last forever.

This project will continue to be around. Let's see where we are in 24 months.

I consider Bitcoin itself a risky but potentially very lucrative investment that makes sense.

Im not aware of any bitcoin investments that Id call good. And that should surprise no one, there are millions of bitcoins in wallets with owners looking to grow their stash and willing to invest in anything that moves, and there is precious little available for the public to invest in. That alone drives up prices, creates bubbles, with no way to short sell them to deflate the bubbles and should make you think twice.

Here  is the kicker though, no matter how wise everyone would invest, the bitcoin economy does not create more bitcoins, other than the ones that are mined, and those are mined anyhow. So it should be clear that on average, no one wins. The overall gain is in the increase of the value of the bitcoins themselves.  Add to that the fact that a large portion of these "investment opportunities" are plain scams, and therefore profitable for the scammer, and its mathematical certainty that the average investor will make a BTC denominated loss. This is very different from the fiat economy, where new money is actually created through good investments, and the loss is the  devaluation of the currency for everyone who keeps theirs under their mattress.

TL:DR: invest your fiat in whatever fiat denominated asset you think makes sense or invest in bitcoins that you keep in cold storage. Trying to do both by investing in bitcoin securities, generally is stupid. Just ask yourself: where would your BTC denominated profit come from? Who is paying for it? Unlike fiat, bitcoins can not be created from thin air and your profit is not gonna come from my cold wallet either.

Recent difficulty spike is related to KNC miner.
They are shipping their Neptunes now.

I choose not to panic.

In the case of the Bitcoin network exponential growth won't last forever.
This project will continue to be around. Let's see where we are in 24 months.

I read it over and it sounds simply like a theoretical miner in which you are paying $5.00 for 1 GH/sec. You could simply buy B.MINE in which each share represents 5 GH/sec. One share of B.MINE (on Havelock) currently sells for a dollar equivalent of $10.54, so you would be paying only $2.10 for 1 GH/sec. You can sell your B.MINE shares at any time also.

IMHO there are too many hidden details for Divcoin. Vault of Satoshi volume has dropped since CaVirtEx has lowered its fees. I suppose VOS is trying to drum up business. In Canada I have used CaVirtex for just under 3 years now and I have found them to be reputable and trustworthy in all my dealings with them. CaVirtex is a Bitcoin/Litecoin exchange.

Canadian company Vault of Satoshi launches Divcoin
https://www.vaultofsatoshi.com/divcoin
(~$50/month 10 gh/s)
The initial price per Divcoin is $5.00 CAD (USD/BTC equivalent). Fees are 0.00028 per Divcoin, per day, which will be automatically removed before payout.

Wouldn't there be some sale of assets after mining ends?

Recent difficulty spike is related to KNC miner.
They are shipping their Neptunes now.

I choose not to panic.

In the case of the Bitcoin network exponential growth won't last forever.
This project will continue to be around. Let's see where we are in 24 months.

Not sure what you are saying. You just calculated a total return of 0.011 which is in line with the optimistic estimates Ive been making for some time. What that means is that a 0.011 BTC share price would seem reasonable (though that assumes a rapid deceleration of network growth. We may well hit 7% or lower, but not likely in the next few weeks which matter most). Its still trading around 0.03. The bubble is deflating, it hasnt popped yet.

This ship is sinking fast!

10:1 tell's me I'm not going to love the cryptx post much despite the moving to p2pool (which I think ultimately is a good thing).

hey, I don't understand why it tanks every day. I own some shares but feel unhappy these days.

@Puppet:  I'm simply pointing out that the supply/demand feedback loop that usually controls the supply has a huge time lag in it.  The bets that dictate the hashrate increase in the near future were made a long time ago, and no choices made now could significantly change the amount of hashrate going online in the next few month.  That's all.
As far as profitability goes, HashFast's bankruptcy and weird ASICMINER rumors at least hint that it's possible for ASIC makers to lose money.  I don't really know.

My calculations: https://docs.google.com/spreadsheets/d/12mylwGbqNWwFr_zspNhWg8RYjWlDJJCg16U38YOI8Yo/edit?usp=sharing (feel free to make a copy and plug in your own numbers)

At 7% DIFFICULTY INCREASE per week, and 0.027 share price we will end up earning 43% of our money back in the next 19 weeks, by which it will not be profitable to run any longer.  So from what I can see, even if the price drops another 50%, its still break even.