if you cannot tell the difference between loss and lower profit margin, then u shouldn't be mining.
A decrease in profit margin simply means u make less money, not losing money.
Topic: How much money are you losing? (Read 5087 times)
$100
What's that youtube video about? I didn't even know US is blocking contents on the web. But when I click on the link, it says this content is from SME and that it's not available in my country.
Check out my youtube page if you are in europe they block my page that teaches people about silver.
http://youtube.com/user/daivncij15
I haven't really been following the Mybitcoin.com incident too closely. Can anyone tell me the specifics of whats going on because I don't feel like sifting through the panic posts and misinformation.
This is what I assumed happened. The site holds your bitcoins and it's suppose to keep them safe? A hacker got in and stole everything. Is this what happened or is it something completely different?
Also I'm not sure why people trust there bitcoins with other people and services. The more bitcoins in one place the larger the target is to steal them. Thats why people attempt to rob banks. At least with banks if the robbers get away with the money its federally insured you wont get that guarantee with bitcoins.
This is what I assumed happened. The site holds your bitcoins and it's suppose to keep them safe? A hacker got in and stole everything. Is this what happened or is it something completely different?
Also I'm not sure why people trust there bitcoins with other people and services. The more bitcoins in one place the larger the target is to steal them. Thats why people attempt to rob banks. At least with banks if the robbers get away with the money its federally insured you wont get that guarantee with bitcoins.
What's that youtube video about? I didn't even know US is blocking contents on the web. But when I click on the link, it says this content is from SME and that it's not available in my country.
With so many "fishy" things going on (to me anyway) ... I'm sure alot of people are losing money. I'm one of them; or at least going to be one of them. But ... no regrets. I have learned alot about bitcoin, linux, etc. I have 2 powerful gaming cards that I can use for gaming.
But the "fishy" things:
1) Mybitcoin.com with its recent "receivership" announcement. I can only be glad I only have like 0.02 btc in there.
2) I have moved my miners away from btcguild.com recently. The statistics and the bitcoin I'm getting just doesn't measure up to what I was getting anymore even with the difficulty change. After their "delay" in announcing block found; all in the name preventing hopping, their pool luck seems to have "diminished" tremendously. Can't help but wonder, if you can "delay" announcing, can you "forgot" to announce?
But the "fishy" things:
1) Mybitcoin.com with its recent "receivership" announcement. I can only be glad I only have like 0.02 btc in there.
2) I have moved my miners away from btcguild.com recently. The statistics and the bitcoin I'm getting just doesn't measure up to what I was getting anymore even with the difficulty change. After their "delay" in announcing block found; all in the name preventing hopping, their pool luck seems to have "diminished" tremendously. Can't help but wonder, if you can "delay" announcing, can you "forgot" to announce?
If you're in mining to sell everyday at market value, I don't think you have a proper time horizon in mind. If you're required to sell to pay bills... that's a different story.
most people seem to go into panic mode after every increase, as if they didn't expect it to happen or something. WHAT DID YOU EXPECT TO HAPPEN?!
Exactly. I get the impression a lot of miners jump in thinking Bitcoin is a magical retirement plan free of volatility and gradually diminishing returns. Then, after maxing their credit cards and discovering that mining is just a modest means of paying off a reasonable amount of hardware investment, they lose their minds.
LOL. I am still making a few bucks a day until it drops below $4...
I pay zero electricity and am still making satisfactory returns with very modest means. Asides those with high power costs, I'm not sure why people are in panic mode over this increase.
most people seem to go into panic mode after every increase, as if they didn't expect it to happen or something. WHAT DID YOU EXPECT TO HAPPEN?!
I pay zero electricity and am still making satisfactory returns with very modest means. Asides those with high power costs, I'm not sure why people are in panic mode over this increase.
MINERS STOP SELLING.
I was making say $210.00 per day at $14.50 and the old difficulty and now at $11.75 and the new difficulty say i'm making $110.00 per day
If you're excluding electricity costs, you were mining 14.5 btc per day at the old 1690906 difficulty level at about 24.4 GH/s. At the new difficulty level of 1888786, you're making about 13 btc per day and at $11.75 per btc, that's a hair over $150 USD per day.
11.7% jump in difficulty... 19% drop in BTC to USD value...
Just ride it out. You must of had a relatively large investment in mining hardware.
Cheers,
Kermee
I am. appreciate it. just feels better to talk it out sometimes.
So you're not losing anything, you're simply earning less. There is a very, very large difference.
I like the way you put that. it gave me a warm fuzzy and calmed me a little. heh
Are your rigs paid off? If so, $110 a day profit still ain't too bad. But I see the suck if you were making a lot more before.
I was making say $210.00 per day at $14.50 and the old difficulty and now at $11.75 and the new difficulty say i'm making $110.00 per day
If you're excluding electricity costs, you were mining 14.5 btc per day at the old 1690906 difficulty level at about 24.4 GH/s. At the new difficulty level of 1888786, you're making about 13 btc per day and at $11.75 per btc, that's a hair over $150 USD per day.
11.7% jump in difficulty... 19% drop in BTC to USD value...
Just ride it out. You must of had a relatively large investment in mining hardware.
Cheers,
Kermee
So you're not losing anything, you're simply earning less. There is a very, very large difference.
Hoarding? Did you really mean to use that word?
I was making say $210.00 per day at $14.50 and the old difficulty and now at $11.75 and the new difficulty say i'm making $110.00 per day
Jump to: