Topic: PB Mining -- 5 year mining contracts! - page 115. (Read 379006 times)

Anyone else unable to access PBMining.com?

Edit: Got into the site now, but it's painfully slow.

I hope a lot below 0.0025, but we'll see. There's another difficulty adjustment (around 9%) later today. And payday tomorrow. Changing price before the payout would be nice 

Yes, i know. Ran up to 0.0032 the first day (24.08.14) after you filled up with more Hash Rate after the week you was empty. 0.0027 the day after if I don't remember wrong.
I see, maybe 0.0025 next week, same difficulties

It was at 0.0027, ran up to 0.0032, and now it is back down to 0.0027. 

0.0027 back then was a better deal than 0.0027 now, due to changing difficulty factor.

Current Price: 0.0027 BTC / GHs Have been the price for a couple of week now.

I ran it too, and you are right.  I would suggest holding off for now too and wait to see what the price does.  We had 0.0027 a few weeks ago and it sure looked good before it ran back up to 0.0032.
  

If the price goes up then you will have more room for profit but thats a big if.

Running some numbers.... at the current difficulty and price, a positive ROI is only possible with a 9% difficulty increase per period.

Based on the current trend of difficulty increase, I'm not sure how viable of an investment buying hash-rate is right now. Anyone else come to the same conclusion?

Anya, takes out her calculator, says to herself now there is a proposition, 271 Ghs at .55 btc.  She furiously pushes a lot of buttons, inputs a lot of data. Stops, does some of the math in her head. Comes  up with about 26 weeks, possibly less. Decides, to offer .52 and bring it  down to 23 weeks.
            Then she sits back and wonders?   I've seen these people wanting to sell. Is this OK?  Ok with PB?  for someone  to want to sell  and transfer a contract,
      As a young lady and a student of math, I would maybe consider something like this offer, however is this ok  with PB, to do this , can I be safe with my  bitcoin?
    I would never want to do anything that might not be approved of by PB, And I would want to be sure the transaction was smooth.   Anya puts her calculator  away, decides to think about all this for a while.
       

There seems to be a misunderstanding.  Please e-mail or PM.

Anyone up for 271 gh/S mining contract
271 * 0.0027 = 0.7317 bitcoins (worth on pg mining site)
I am selling for 0.55 bitcoins
Pgmining will be the middle hand, so 100 % safe

;;P

Ok, so you did some math.  I would be curious to know more.

Are you taking past contracts and calculating how long they took to break even?  Are you then taking that data and extrapolating future break-even dates?  Are you assuming that difficulty increases will decrease or remain constant?  What is the average difficulty increase that you predict over the next 30 weeks?  These details would go a long way in helping me understand how you arrived at your opinion.
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       Anya, - All good and intelligent questions to ask Netwerked, you deserve an answer. Yes I am doing all that you mention above. I bought contracts each week and each difficulty period and and from these I'm extrapolating future data. Difficulty has never remained constant or dropped in this time period we are considering. Therefore I am adding a substantial difficulty for each two week period.  As for what the difficulty will be for the next 30 weeks, its going to be increasing but not the huge jumps like we saw a few times when huge mining farms came on line. We will see the small jumps like we saw a few weeks ago, this next one is also slightly smaller than some we have seen.

I have a total of 6 contracts, of which 2 are very small.

My April contract has ROI'ed, the one from end of June is getting close, the July contracts aren't even close yet. But with my April contract only returning profit the risk of not ROI'ing in total is getting smaller and smaller.

I had calculated last week it's another 10 weeks for the total account to ROI.

I'm trying to have a factual conversation about the likelihood of August contracts breaking even.  I respect your opinion that you think August contracts will break even, but you are not supporting it with any facts.


Ok, so you did some math.  I would be curious to know more.

Are you taking past contracts and calculating how long they took to break even?  Are you then taking that data and extrapolating future break-even dates?  Are you assuming that difficulty increases will decrease or remain constant?  What is the average difficulty increase that you predict over the next 30 weeks?  These details would go a long way in helping me understand how you arrived at your opinion.

That.

And there is also the possibility btc goes up in value again.

With positive news like from Paypal today it could go fast to 600 again also.

At this price level i buy btc.

Have you actually plugged this in to a spreadsheet, or are you telling us what your intuition is guessing?

Yes, February contracts broke even in July, and I don't doubt that April contracts have broken even or are breaking even now.

This does not automatically mean that all future contracts will break even.  Past performance is no guarantee

For a mining contract to be profitable, you have to receive more mining income than the purchase price of the contract.  While the cost/GH of contracts has fallen significantly since February, so has the weekly mining income from each GH.

This calendar year, difficulty has risen around 16% on average.  If someone purchased a contract at the beginning of August, and difficulty continues to rise 16% each time, then they will never break even.  This is part of the risk we take with Bitcoin mining.  Hopefully we will have some more single digit difficulty increases in the near future to increase our odds for profitability.
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   Anya            I agree with some that you say. Some dosen't add up.  Future contracts will break even, it is a mater of how many weeks.  Again, this word (never)  is problematic.  I dont want to discuss spread sheets and such, 
       August contracts will break even. but the amount of weeks to achieve this is rising.
 If you bought in August, your looking at 30 to about 32 weeks, a ten or twelve week jump from buying in April. I predicted the April breakeven long before it happened, i know that even if my math is way off, say it 35 weeks to break even from August,  I then am way more accurate  in my calculations than what I hearing out here.  (never)
No that doesn't add up. 
       Profit, that a whole different thing,  I loved being part of the birth of bitcoin, I love how people were actually mining at home, creating a new future  in trade for us.
Pb gave me the chance to have the fun of mining with out being complicated.  I love the math involved with it all. I wipe a tear from my eye that the glory days of mining is over,  We are now approaching the commercial stage of bitcoin mining.   Therefore, no I'm not saying there going to be much profitablity,  I am saying that that contracts bought through August will reach breakeven, it not a matter of if , or never,  They will in 32 weeks. 

I think you're better of keeping your contract. As you said it's already a really low sum, why not just keep the passive income. Nobody is going to buy a second hand account with no insurance.

Have you actually plugged this in to a spreadsheet, or are you telling us what your intuition is guessing?

Yes, February contracts broke even in July, and I don't doubt that April contracts have broken even or are breaking even now.

This does not automatically mean that all future contracts will break even.  Past performance is no guarantee...


For a mining contract to be profitable, you have to receive more mining income than the purchase price of the contract.  While the cost/GH of contracts has fallen significantly since February, so has the weekly mining income from each GH.

This calendar year, difficulty has risen around 16% on average.  If someone purchased a contract at the beginning of August, and difficulty continues to rise 16% each time, then they will never break even.  This is part of the risk we take with Bitcoin mining.  Hopefully we will have some more single digit difficulty increases in the near future to increase our odds for profitability.

I think that the three year window is going to be exaggerating the useful life of most contracts (unless they are huge in size).  Consider that the trend for many of the paydays has been roughly 10% less than the week before.  Not always that much, but often enough.  At that rate, there will be very little being generated on smaller contracts in a year from now.