Topic: I have just pulled out my 1.5 btc from bitstamp and invested in the zenminers (Read 2101 times)

How long have you had them running?

  I hobby mine. I sell a bit and teach newcomers.  I have been buying some coins. I am 15 cents a kwatt with about 5 kwatts to 6 kwatts in house. As my max.  right now I am running 1 kwatt in house.

I am 2.4 cents a kwatt but very little power at that price.  I have been running 2 batch 1 s-3's and that is about all I can do .   these s-3's will do btc roi. in about 1 more week.

heh..hundreds of coins..heh....I made a bit over 50 btc on a KNC 565gh ave (down for 4x in a year for more then 5 min) Jupiter miner.....I wish hundreds

I'm holding and am pretty much at my comfort zone limit (with my NO ROI KNC NO REFUND Titan Miner...that was a mistake prob will only make back 1/2 I paid)

as to the rest ...just a dribble here and there as I can afford via www.coinbase.com

(i esp like buying down to the last penny I can put into such dribbles..I amuse easy...tweak with it to the last penny lol on buys lol)

anyway at 15c/kwh ave in usa (and my price is such) and when I do the figures on hosting it is around 15c/kwh at least from what I can tell in the states as well...it is
kinda a wash to mine at all at this point (besides I have the Titan to play hercules with on an impossible ROI quest over the next few months)

so I'm out of home mining and right now am HOLDING my 51.5 BTC from last OCT 18th when I fired up the miner

so bitcoin is either gonna go

1) up as expected and make my investment in holding bitcoins make sense ..ie lots of $$$

2) or beanie baby tank and go down to a price where I have or can have lots and lots of bitcoin (may not be worth much but hey its an option)

My strategy is I am in this to get as much Bitcoin as I can 'comfortably' afford to do (currently what I have invested in equip and bitcoin etc is 3% of my net
worth counting house retirement etc)

so....it is a SPECULATIVE gamble ..that with high risk I will have high rewards

if I am wrong

I will have High risk and many many bitcoin (lol)

riding this roller coaster till the end

(man maybe I need a life huh)

if nothing else I don't dwell too much on the outcome in that it is a coin flip at this point..but imho the amount I have invested (what you can afford) vs the
potential reward....well ..I feel better holding and bitcoin failing would be less of a hardship on my ego then not doing bitcoin or cashing out and it does
aspire to its potential in the next few years

and as I have said before got to have something to talk about when they sell/take all my stuff away and wheel me into the assisted living in my old age

so frack for once in my life I'm taking a 'speculative risk' on 'known factors' ie placing a bet....thus why it is called 'speculation' and not investing..you invest
something you have an expectation of fair odds to keep or make $$$ on speculation it is your knowledge or guess that something may come to pass that
will be the next big thing and no fair expectation of ever seeing your $$$ again nor making a dime..you can lose in either but make no mistake...

investing in bitcoin is considered by most a speculative process on what you think is going to happen vs what is going on today

so it goes

Whats the point of mining a coin you will never create... Hasn't anyone seen how fast the hashrate & difficulty is going up?

Yes, I do agree that investing in hardware mining is a losing game now compared to last fall (i guess you'd make few hundred coins by now if you bought the 550gh knc last fall). And everybody is now saying "buy coins directly rather than mining", however I will not buy any coins until I am sure the price is at it's true bottom ($1 would be quite impossible I'd say, but perhaps in the range of 200~300 maybe?)

well I know a guy that is selling now..but he bought at the 16 usd price he told me the price now is 39 usd...so i'd be wary...again prob better off just holding the 1.5 btc imho...BTC will either go back over 500 someday or the whole thing was unicorns/beanie babies and fairy dust imho...

anyway good luck ...all newbies get a miner first imho guess it goes for the same with cloud hashing stuff....(funny how you can plunk down 7.5k for a knc 550gh last fall but the thought of 7.5k at 450 usd on www.coinbase.com for coin and now you pucker up in unpleasant places...go figure

me I'm holding even if it goes to $1 usd (more btc for me!..damn I'm one sick puppy).....balls to the wall

Thanks for the info, I am still new into cryptocurrency mining thing. By zen miner I do mean the cloud mining hashlests that they sell, and I don't quite understand how mining in alts can get me btc as well. The 1.5 btc in bitstamp will be sitting there uselessly if the price of btc continues to drop so I figured why not generate some btc by mining with the 1.5 btc that I have. Further more on their website I can also sell the hashlets at about 80% of the buy price so I could still pull out my btc after I make 20% of ROI without making a loss.

Hope I was right about it.

KNC Titans are coming out this week.....by zen miner I assume you mean a machine not cloud hashing etc....you'd be better off buying coin imho
just trying to warn you as a 10.3k 300mh (no refund no compensation) KNC Titan unit coming this week or next

oh well its a toy to play with alts ....but ROI no way...and they have a lot of this hitting the skids equip wise imho

just saying good luck

Well, if I calculated correctly, with my 1.5 btc investment in zenminers, i can get a return of 0.015BTC/day, which means the investment is as good as holding the btc while the current btc price doubles in about 3 months 

Am I correct?

Oh god, it's not 0.21 cent/kwh, should be 21 cents/kwh

Actually, at 0.21 cent/kwh, nothing is profitable ...

At 0.21 cent/kwh of electricity, I'd guess that even with zero capital on the mining rig I would still run a negative ROI with the power cost, not to mention that the btc price drops even lower.

With BTC dropping, you should buy S3 instead which is fixed at 0.58 BTC. But its sold out

It is hard to tell. Personally I stopped playing exchanges because although I was able to make profits on most trades when I took a loss it wiped out all my profits that I would work to get. I have made many transactions on stuff like cloudmining and cryptostocks (when it was popular) and made great profits. I think you made a better decision but who knows if its the best its impossible to know for sure.

With the exchange price plummeting recently, I don't expect the exchange rate to go up anytime soon. So I have decided to pull out my 1.5 btc and buy some of the zenminers to generate at least a positive flow of btc.

The bad news is the price for the miners is not flat rate in btc but still in exchange of usd value at current exchange rate. However it's still worth trying rather than holding the btc and hoping it will rise.

What do you guys think? Is it a good move or a bad one?

Thanks.