Topic: Newest Diff thread April 5 to April 18th - page 4. (Read 8047 times)

Picking time ended on the 12th of April.

I am a long term hodler. I have acquired a large amount of coins via signature deals and the like since when bitcoin was trading at over $700. I have a good amount of fiat stashed away at coinbase waiting for the price to take a serious dive.

Sadly the most profitable course of action for mining seems to be to buy miners directly from manufacturers, then mine for some amount of time and then sell them for a profit (when you take into account your mining revenue). When I first seriously starting monitoring bitcoin and bitcoin related news (mostly by lurking on reddit in early 2014) it seemed that people were able to sell miners they purchased from manufacturers for several times the amount they paid for them.

The ability to profit from mining seems to be almost like a game of 'hot patio' and my biggest concern is that a good portion of the miners will end up in the hands of people with malicious intentions.

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Like I said in my previous post, mining is likely going to be more fun then playing the lottery. Likewise, there is a good chance that mining would be more entertaining the going out to the movies or going out to a nice restaurant. If this is the case then it makes sense to not go out one or two weekends and instead mine for a few months, however from a financial perspective it is probably not a good idea to solo mine with less then several PHs of mining

I'm going to chime in here with a guess of -3.76-4

 Most likely I should sell these two off at the end of  April.. Then hold the coins.

Well I would trust -CK to payout if your miner found a block (he did so as recently as twice today). The real concern is that you may somehow have something misconfigured on your end that for some reason the block you find does not have a coinbase transaction to your address.

All lotteries will have a negative EV, the way people win is if they happen to win a larger amount then they bet and this is only likely to happen over the short run.

The problem with solo mining with such a small amount of hash rate is that you cannot realistically expect to be able to find a block.

If you want to play the odds, then yes solo mining is going to have a higher EV because -CK is going to take only 0.5% while the lottery is going to take between 2 and 3% depending on the game you play. (I would also personally argue that mining is more fun then playing the lottery so the difference is EV is accounted for). The issue is that solo mining is an all or nothing game, you are either going to make $5,500 (25 BTC) or nothing. With the lottery on the other hand you could make $10 on a ticket, or $50, or even potentially make $500 over $300 worth of tickets.

I don't know exactly what your cost of electricity is where you live, however I don't think the estimated mining revenue would be less then the estimated amount of electricity that you will consume.

You are entitled  to think that.  But you are lacking so many facts in my particular case it is not correct.

A) I begged pool operators for months to run solo pools.
B) Not fly by nite operators but real legit operators.
C) Ck was one of the first to run a solo pool
D) I support him and have 0 issues losing 300 dollars if that is what I lose
E)  Government run Lottery tickets are  bets at unfavorable odds.
F) Solo mining on ck's pool is a high risk investment at favorable odds which involves investing  a small amount 300 usd to collect a possible  5500 usd

Do the math and see why it is favorable odds to do solo mining unlike playing a 4 digit number such as 1234 in a pick 4 game.

You are pretty much running a lottery ticket. Not only that but a lottery ticket that, unless you are an expert, have no real way of knowing for sure is properly setup until after you find a block but it either does not get propagated or the coinbase transaction does not get sent to an address you control.

I personally think that you should not make any attempt to solo mine unless there is at least a 75% chance you will find a block every two weeks, but even that is very risky

I sold off 13 sp20e's
I sold 1 avalon 4.1
I sold 2 s-5's
I sold 4 s-5's hosted in china

All sold to prep for the summer.  Most likely I will run the avalon 4.1's at ck's solo pool underclocked to 700gh each.

I will burn about 725 watts an hour or 24 x 725 = 17.4 kwatts a day x 30 = 522 kwatts a month at 18 cents = 94 usd a month for 3 months or   just under

300 usd for a shot at a block.  I am also holding some coins.   I may buy some more.

Isn't it better to just sell your gear instead of mining at a loss or shutting off miners?

with 1389 down and 627 to go negative looks pretty likely .  My stock -1.01 to 1.25% has a shot.  Remember heat is coming for the Northern Hemisphere

price is 223 usd. If I mine at a diff of 50 a price of 220 usd in the summer my power is 18 cents. my avalon is breakeven on a big down clock to 750gh.

I will mine at breakeven price or even lose 1 dollar a day to mine. but others are turning gear off.

Just when I thought it was going up slowly.  Bitwisdom went down slightly:

Bitcoin Difficulty:    49,446,390,688
Estimated Next Difficulty:    48,406,842,195 (-2.10%)
Adjust time:    After 627 Blocks, About 4.5 days

Bitwisdom has not moved much. Seems the jump of miners from renting is done.

Bitcoin Difficulty:    49,446,390,688
Estimated Next Difficulty:    48,505,076,217 (-1.90%)
Adjust time:    After 645 Blocks, About 4.6 days

it seems that miners know well how to predict the price, when they see a down trend

and for thath reason sometime i think that the price is following the hash, normally it should be the contrary....

My current summer plan is continue to dial back my SP20 to it's minimum viable power usage, and hence minimum heat production. It's current location is in the basement, but still within the total AC envelope for the house. I have never had this powerful a miner, and never downstairs like this. I'll have to see how it works out.

If I am reading things correctly, it seems that the recent WestHash "BTC Rental Rush" is over. I think I just got my SP20 all rigged for it, and it seems that WestHash will only pay .0068 at the present time. I was kinda hoping I could see if I had it all rigged correctly, and then it fell below my .0100 threshold.

I guess the "Tron Pump" is over and we are into "Dump"? This seems to mesh with a return to BTC mining?

Or someone who has not done much mining.   I have been working on getting my summer area ready.  I do not want to use AC as it's to expensive to use to cool miners.

This year I will be trying to use good exhaust of miners and drawling in new air.    It's going to be a heck of a lot of work, but worth it in the end.

You obviously don't live somewhere it gets hot.  You open a window and it gets HOTTER inside.

Thank you, I have just been searching for information about this topic for a long time and yours is the greatest I've found out so far. However, what concerning the bottom line? Are you positive concerning the supply?

Unless you live in an apartment I see no reason to shut off mining gear in the summer. Just put it in a room you don't use and open the window and shut the door.

with 63% of this set of blocks done it becomes hard to go up a lot. I think some left the TRON coin and started to bring the numbers up.
I think people like me nearing the summer and close to the profit margin turned some gear off.

This summer I may only night mine to cut costs a bit.