Topic: Swedish ASIC miner company kncminer.com - page 1600. (Read 3049505 times)

When I first saw KnC they were saying a couple of things that I got mixed up for a short time, they were talking about a litecoin rig and modular miners...and for a short time I had a picture of a dual miner, one module mining each ..the litecoins paying the power bill while the other mined BTC.

You're right about people finding a way to use all this kit I think, necessity is the mother of invention.

Back in 1995 Internet exploder was by far the top browser, Chrome didn't exist....no-one would have believed what we have now. Maybe well all end up looking back and wishing we'd been mining another currency that follows the same path as BTC has.

Just like the internet in 1995....you can't see what hasn't been yet created (the amount of available ASICS processing power is very high and could potentially be monetized other than just mining coins)....Plus FWIW there are shitons of people who make a viable living doing stuff that we would scoff at - janitorial businesses, fast food propritors, ditch diggers, and yes, tulip growers. 

are we going through a 2013 tulip bubble?  no.  Are there people out there who still grow tulips for resale....yes!  I was simply taking his relevant example and giving an unrelated rebuttal for the sake of derailing KNC news thread even further.. you know that's just soooooo awesome to do and all.


   

I'm guessing his tulip remark was a reference to the Dutch Tulip Bulb Market Bubble, rather than a slur on tulip growers.   

I'm guessing his tulip remark was a reference to the Dutch Tulip Bulb Market Bubble, rather than a slur on tulip growers.   

Just like the internet in 1995....you can't see what hasn't been yet created (the amount of available ASICS processing power is very high and could potentially be monetized other than just mining coins)....Plus FWIW there are shitons of people who make a viable living doing stuff that we would scoff at - janitorial businesses, fast food propritors, ditch diggers, and yes, tulip growers.  

Yeah, cause there's just so much real world applications for double SHA256, the  possibilities are endless! You might as well go and buy a few tulip buds.

...
I have never, ever seen so many incredibly lame, completely ignorant armchair jockies posting in one thread before.  

I'm am of the Jurassic park school of thought (Life finds a way and adapts to seek advantages with the resources available)  - With the amount of dollars thrown into mining hardware - the participants of the system will find substitute methods to realize a return on investment wether it be through mining an alt-coin or through a different mechansim where Asics could be utilized for something else that generates virtual or real revenue.  There will be incentives to foster the creation of these mechansims so that "new" pool operators, "new" services providers, and "new" opportunities to realize a potential ROI are necessary...this incentive remains true both for small time fish like us individuals as well as for someone like bitfountain or ICEdrill who has the ability to have large amounts of hashpower that would be electrically not cost effective if they were to continue to mine as they currently do.  

I could be totally wrong here....but if I'm not, then all of us who bought in early, all those who bought in onto the block erupters, all those who got their bfl hardware very late or their avalon K16 hella late will be able to recover their initial investment and who knows perhaps see a gain.  I PROMISE you guys that who acted as naysayers to those who still took the risk will feel like an idiot for doing such.  

Gotta love the internet, it amazes me to see the posts from back in 2010 and 2011 of people speculating to want to dump a quick 300 bucks on BTC and those who said don't bother its just a fad and you'll just lose like any otc stock...those naysayers also happen to be "these naysayers"  albeit moreso reasonable with all the mining calculators and leigons of hardware vendors and diy folks comming around.

If history were to repeat itself and we were to see the same linear rate of growth as a function of percentage, wouldn't it be reasonable by BTC track record to expect a price to break the 1000 USD barrier?  Would that change the argument of buy and hold vs buy a miner, HELL NO (you still lost your ass if you bought a miner with BTC or cash in hand that could be used to buy/hold btc).

Finally, I'd be willing to bet that many of you, like me, used a line of credit, something that couldn't be used to secure btc to hold, to be able to pay for mining hardware.  I don't know about you, but a line of credit is much easier to use than to have built up cash in hand that you would be willing to invest onto buying BTC and holding.  

When someone says ROI, ask yourself, if I put in 100 dollars onto a bet and I won 100 dollars, did I see a return on my gamble?  NO I just got my money back!  

Yes, everyone seems to think that they know how things should be done better than the experts that are actually doing those things.  It's beyond tedious.  If everyone is such a fucking expert about everything, why haven't you started your own companies?  

I have never, ever seen so many incredibly lame, completely ignorant armchair jockies posting in one thread before.  

This thread is becoming tedious.

Yeah. I don't know why they chose not to do testing. I guess they figured they'd get the chips a day or two earlier without it. 

Perhaps users who figure getting bitcoin to spend on the slik road is safer via mining then legal tender.

Difficulty and hashrate and perfectly linear.   If network hash rate doubles, then difficulty doubles (eventually), and the GROSS return on x GH/s is cut perfectly in half.  The net return is reduced by more than 50% because the electrical cost remains fixed.

Based on existing (not future) pre-orders we are looking at 6 PH/s min by end of Dec.  If you want to be more conservative you should consider 8 PH/s.  

1 PH/s ~= 140 mil difficulty
1 billion difficulty ~= 7 PH/s

If you want the exact formulas

hashrate = (2^32 * difficulty) / 600
difficulty = (600 * hashrate) / 2^32

Remember the network/protocol has no way on "knowing" the hashrate (and neither do any sites which chart it).  We can only estimate the hashrate based on the frequency that blocks are found.