HOME MINER: Lacking products in market.

philipma1957

legendary

Activity: 4256

Merit: 8551

'The right to privacy matters'

Quote from: Biodom on February 28, 2015, 01:18:26 PM

Quote from: philipma1957 on February 28, 2015, 01:12:31 PM

Quote from: sidehack on February 26, 2015, 10:30:35 PM

One problem with having only a few producers is monopolies and cartels. What if they decide collectively to block transactions from certain services they deem to be competition? If a few entities cover 90% of block generation and you issue a transaction from a service they don't like, it could take a couple hours to get first confirmation. Or they could start screwing with the protocol, or any number of other devious things.

I agree with all of the above.

3 to 5 companies doing 90% of the mining will cause death to btc for the above reasons.

BTC is a money substitute for investors. Once a few companies do all the mining they control all the new transactions.

How would you want to hold 100,000 coins and not be able to move them because BITFURY held up the block they are in.

If we get to:
KNC
BITFURY
SP-TECH
AVALON
BITMAINTECH
ASICMINER

all self miners and the rest of the world shut out the system dies.

SP-Tech does have the idea for 5 or 6 people to share a few dozen 16kwatt units in low power areas.

At least it is something. I would want a piece of it maybe.

Killing off the home miner is a moron move. Making the home miner have heater/bitcoin device is viable. All across the world people use this item.

I posted response to something similar in SPT thread and repost here;

I totally agree. Who would invest in bitcoin knowing that 3-4 monopolists can move the price tenfold down just trying to crush each other. Or, how about making transaction cost moving from 2c to $2? Apple is doing pretty good with mass produced $200-500 devices. We just need to find either second use (heat, of course) or other application (in dual use device).

It is very frustrating I have been preaching the above for so long.
I live in the northeastern part of the USA New Jersey.
It has been cold real cold for the last few months. I know of 3 homes that a pipe froze. Not me my coldest room is 77f why? miners.

The avalon 4.1 is the closest piece of gear to use as a home heater. It can go as low as 244 watts running 500gh or up to 700 watts running 1th all very quiet.
Take out that 20% of the hashrate the little guy the 1th to 20th in a garage guy.
Turn it into 100,000 homes around the world with an avalon 4.1 space heater miner
That would be 50ph on low setting and 100ph on high setting. The item can sell.

Biodom

legendary

Activity: 3892

Merit: 4331

Quote from: philipma1957 on February 28, 2015, 01:12:31 PM

Quote from: sidehack on February 26, 2015, 10:30:35 PM

One problem with having only a few producers is monopolies and cartels. What if they decide collectively to block transactions from certain services they deem to be competition? If a few entities cover 90% of block generation and you issue a transaction from a service they don't like, it could take a couple hours to get first confirmation. Or they could start screwing with the protocol, or any number of other devious things.

I agree with all of the above.

3 to 5 companies doing 90% of the mining will cause death to btc for the above reasons.

BTC is a money substitute for investors. Once a few companies do all the mining they control all the new transactions.

How would you want to hold 100,000 coins and not be able to move them because BITFURY held up the block they are in.

If we get to:
KNC
BITFURY
SP-TECH
AVALON
BITMAINTECH
ASICMINER

all self miners and the rest of the world shut out the system dies.

SP-Tech does have the idea for 5 or 6 people to share a few dozen 16kwatt units in low power areas.

At least it is something. I would want a piece of it maybe.

Killing off the home miner is a moron move. Making the home miner have heater/bitcoin device is viable. All across the world people use this item.

I posted response to something similar in SPT thread and repost here;

I totally agree. Who would invest in bitcoin knowing that 3-4 monopolists can move the price tenfold down just trying to crush each other. Or, how about making transaction cost moving from 2c to $2? Apple is doing pretty good with mass produced $200-500 devices. We just need to find either second use (heat, of course) or other application (in dual use device).

philipma1957

legendary

Activity: 4256

Merit: 8551

'The right to privacy matters'

Quote from: sidehack on February 26, 2015, 10:30:35 PM

One problem with having only a few producers is monopolies and cartels. What if they decide collectively to block transactions from certain services they deem to be competition? If a few entities cover 90% of block generation and you issue a transaction from a service they don't like, it could take a couple hours to get first confirmation. Or they could start screwing with the protocol, or any number of other devious things.

I agree with all of the above.

3 to 5 companies doing 90% of the mining will cause death to btc for the above reasons.

BTC is a money substitute for investors. Once a few companies do all the mining they control all the new transactions.

How would you want to hold 100,000 coins and not be able to move them because BITFURY held up the block they are in.

If we get to:
KNC
BITFURY
SP-TECH
AVALON
BITMAINTECH
ASICMINER

all self miners and the rest of the world shut out the system dies.

SP-Tech does have the idea for 5 or 6 people to share a few dozen 16kwatt units in low power areas.

At least it is something. I would want a piece of it maybe.

Killing off the home miner is a moron move. Making the home miner have heater/bitcoin device is viable. All across the world people use this item.

sidehack

legendary

Activity: 3346

Merit: 1858

Curmudgeonly hardware guy

One problem with having only a few producers is monopolies and cartels. What if they decide collectively to block transactions from certain services they deem to be competition? If a few entities cover 90% of block generation and you issue a transaction from a service they don't like, it could take a couple hours to get first confirmation. Or they could start screwing with the protocol, or any number of other devious things.

alh

legendary

Activity: 1846

Merit: 1052

I wonder how much the "centralization" of mining will actually change how things play out. When you think about it, many of the big farms cannot just hoard the Bitcoins they mine. They have salaries, rent, and electricity to pay. They somehow have to dispose of some, maybe a lot, of the Bitcoins they mine. Either they convert to fiat, which means somebody else then has the Bitcoins, or they directly pay their bills in Bitcoin. One way or another, the mined Bitcoins end up the hands of folks that aren't likely miners. Isn't that kinda the point of mining? While I as a miner would like that to be me, in the grand scheme of Bitcoin, does it really matter? I also see little evidence that how centralized the production (i.e. mining) of Bitcoins influences it's price. I expect that the long term value of Bitcoin will be determined by things that have nothing to do with it's production cost. While I have tended to hoard my few coins, it is just a pittance, I am hoping to get a better price. I expect that's true of many of the folks on these boards.

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: alh on February 24, 2015, 01:52:28 AM

Quote from: philipma1957 on February 23, 2015, 07:50:15 PM

Quote from: Snipe85 on February 22, 2015, 08:32:29 PM

We came to a point where the most cost efficient miners are also incredibly power hungry. It's probably going to look worse for home miners in the future.
Fun ends when you have to hire an electrician to help power your new toy.

I so want miners = space heaters.

It is a viable way to use them.

16 kwatt beasts will kill off bitcoin.

1.5 kwatt space heaters will not.

Just an opinion not a fact.

There's nothing that requires "home mining" for Bitcoin to be viable. I have serious doubts about the long term viability of Bitcoin, but those doubts have nothing to do with my ability to participate in the mining of those Bitcoins.

I completely agree that "16 kwatt beasts" will kill off home mining.

It is not required but it was designed to be decentralized. If we have 3-4 main miner companies doing all mining will be interesting to see what price does.

We will learn alot once next gen comes out. It is just hard to predict.

josheche

newbie

Activity: 3

Merit: 0

Quote from: alh on February 24, 2015, 01:52:28 AM

Quote from: philipma1957 on February 23, 2015, 07:50:15 PM

Quote from: Snipe85 on February 22, 2015, 08:32:29 PM

We came to a point where the most cost efficient miners are also incredibly power hungry. It's probably going to look worse for home miners in the future.
Fun ends when you have to hire an electrician to help power your new toy.

I so want miners = space heaters.

It is a viable way to use them.

16 kwatt beasts will kill off bitcoin.

1.5 kwatt space heaters will not.

Just an opinion not a fact.

There's nothing that requires "home mining" for Bitcoin to be viable. I have serious doubts about the long term viability of Bitcoin, but those doubts have nothing to do with my ability to participate in the mining of those Bitcoins.

I completely agree that "16 kwatt beasts" will kill off home mining.

IMHO, home mining will not be "killed off" rather you will see an explosion in areas of the country where kwh are cheap. I live in Miami, FL and have a property near "Turkey Point" (our nuclear power plant) in Homestead, FL that charges .05 per kwh. Compared to my Miami property where I am charged .11 per kwh. Mining at a power cost below .06 kwh is completely feasible with a 16kW beast. It's about the same cost monthly of a pool heater, the way I look at it.

alh

legendary

Activity: 1846

Merit: 1052

Quote from: philipma1957 on February 23, 2015, 07:50:15 PM

Quote from: Snipe85 on February 22, 2015, 08:32:29 PM

We came to a point where the most cost efficient miners are also incredibly power hungry. It's probably going to look worse for home miners in the future.
Fun ends when you have to hire an electrician to help power your new toy.

I so want miners = space heaters.

It is a viable way to use them.

16 kwatt beasts will kill off bitcoin.

1.5 kwatt space heaters will not.

Just an opinion not a fact.

There's nothing that requires "home mining" for Bitcoin to be viable. I have serious doubts about the long term viability of Bitcoin, but those doubts have nothing to do with my ability to participate in the mining of those Bitcoins.

I completely agree that "16 kwatt beasts" will kill off home mining.

philipma1957

legendary

Activity: 4256

Merit: 8551

'The right to privacy matters'

Quote from: Snipe85 on February 22, 2015, 08:32:29 PM

We came to a point where the most cost efficient miners are also incredibly power hungry. It's probably going to look worse for home miners in the future.
Fun ends when you have to hire an electrician to help power your new toy.

I so want miners = space heaters.

It is a viable way to use them.

16 kwatt beasts will kill off bitcoin.

1.5 kwatt space heaters will not.

Just an opinion not a fact.

Snipe85

sr. member

Activity: 756

Merit: 250

Infleum

We came to a point where the most cost efficient miners are also incredibly power hungry. It's probably going to look worse for home miners in the future.
Fun ends when you have to hire an electrician to help power your new toy.

Biodom

legendary

Activity: 3892

Merit: 4331

Quote from: hedgy73 on February 22, 2015, 08:53:15 AM

There doesn't seem to be any rumours of ground breaking new equipment lately.

I wonder if the latest current most efficient miners like Spondoolies and Bitmain are now reaching the efficiency vs research / production cost / affordability mark.

SPT sold out of SP20 and new machine will be 12U/16kw! Not for home, obviously.
We might get S6 from Bitmain.

hedgy73

legendary

Activity: 1414

Merit: 1077

There doesn't seem to be any rumours of ground breaking new equipment lately.

I wonder if the latest current most efficient miners like Spondoolies and Bitmain are now reaching the efficiency vs research / production cost / affordability mark.

Shazam!!!

full member

Activity: 350

Merit: 158

#takeminingback

There are only a couple of companies that seem willing to let their sticky fingers drop some
of the technology they are working with. Read through some of the threads on the forum
to get an idea of what you like. There are a lot of people on here that will help you out.
My advice---If it seems to good to be true it is!!! We are still in Q1 and something new
is just around the corner. Goodluck!!!

TheRealSteve

hero member

Activity: 686

Merit: 500

FUN > ROI

See: Bitcoin Forum > Bitcoin > Mining > Mining speculation :: Next consumer model miner
tl;dr: Yes.

Posted from a web browser.

troybeags

member

Activity: 81

Merit: 10

Hello all, is it just me or at the moment there seems to be a void in the home mining market. Please correct me if I am wrong, but there doesn't seem to be anything new atm. Also maybe suggest suitable products. SP20 maybe?

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Topic: HOME MINER: Lacking products in market. (Read 3024 times)