Swedish ASIC miner company kncminer.com - page 1737.

jspielberg

sr. member

Activity: 490

Merit: 255

Quote from: Syke on August 31, 2013, 08:49:30 PM

Quote from: ?? on ??

I don't buy miners in BTC, I buy them in USD. If I make more USD than I paid I have a positive return.

But you'll have more USD if you just buy the BTC and hold them. Why do you want less USD?

Don't waste your time Syke. He is locked into a fiat mind-set, and doesn't understand that a miner's purpose is to generate more BTC than it cost in BTC... otherwise, just buy the BTC directly and come out way ahead.

amencon

sr. member

Activity: 410

Merit: 250

Quote from: ?? on ??

Quote from: keyzersoze on August 31, 2013, 08:22:13 PM

Quote from: timmmers on August 31, 2013, 08:02:08 PM

Quote from: Ytterbium on August 31, 2013, 12:17:32 PM

Quote from: timmmers on August 31, 2013, 07:18:43 AM

So. If I buy a Jupiter now and mine just ONE BTC with it and BTC rises to 10k I won't be in profit?

Not if you paid with 70 bitcoins. It would mean you lost $690,000

If I bought a jupiter NOW (which is a fucking long way from 700k because NOW BTC are more like 140 dollars NOW), then they RISE to 10k dollars each (which a shitload higher than their 140 dollar current value) and I managed to mine just one BTC when I got the fucker..assuming I didn't leave it sitting in it's box for years ...I'd be not only in profit but better at maths and comprehending english than some people here.

I made the numbers extreme and round to illustrate a point so it was easy to understand. Waste of time.

I think hes saying that if you kept the 70 bitcoins, and never bought a jupiter, then youd have 700000 $ once the bitcoin hits 10k$. If however you manage to mine more bitcoins than you paid for it in btc. Then buing the miner would have been the better desicion, rather than just holding on to the bitcoins.

I don't buy miners in BTC, I buy them in USD. If I make more USD than I paid I have a positive return.

You can also look at it as you bought the BTC that comes out of a miner with USD, and in the above example you'd have done better to buy the BTC directly with that same USD. The method you've chosen to invest in BTC would still be a bad one even though your decision to invest in BTC (speculative currency investment decision separate to the decision of how best to obtain said BTC) would have been a good one.

I like the network to be secure so if any missing BTC from miner purchase you make vs buying the BTC outright is an acceptable cost for adding to the global hashrate then I commend you for your monetary sacrifice for the greater good.

Syke

legendary

Activity: 3878

Merit: 1193

Quote from: ?? on ??

I don't buy miners in BTC, I buy them in USD. If I make more USD than I paid I have a positive return.

But you'll have more USD if you just buy the BTC and hold them. Why do you want less USD?

Xialla

legendary

Activity: 1036

Merit: 1001

/dev/null

Quote from: ?? on ??

I don't buy miners in BTC, I buy them in USD. If I make more USD than I paid I have a positive return.

..when KNC holds you funds because of preorder (free loan), rate was about 70$/BTC. btw if you want to count break-even, you must exchange price of miners to BTC and then wait, if you will mine at least same amount.

you can't mix apples and oranges, because miner is producing bitcoins, not dollars..

keyzersoze

sr. member

Activity: 476

Merit: 266

Quote from: ?? on ??

Quote from: keyzersoze on August 31, 2013, 08:22:13 PM

Quote from: timmmers on August 31, 2013, 08:02:08 PM

Quote from: Ytterbium on August 31, 2013, 12:17:32 PM

Quote from: timmmers on August 31, 2013, 07:18:43 AM

So. If I buy a Jupiter now and mine just ONE BTC with it and BTC rises to 10k I won't be in profit?

Not if you paid with 70 bitcoins. It would mean you lost $690,000

If I bought a jupiter NOW (which is a fucking long way from 700k because NOW BTC are more like 140 dollars NOW), then they RISE to 10k dollars each (which a shitload higher than their 140 dollar current value) and I managed to mine just one BTC when I got the fucker..assuming I didn't leave it sitting in it's box for years ...I'd be not only in profit but better at maths and comprehending english than some people here.

I made the numbers extreme and round to illustrate a point so it was easy to understand. Waste of time.

I think hes saying that if you kept the 70 bitcoins, and never bought a jupiter, then youd have 700000 $ once the bitcoin hits 10k$. If however you manage to mine more bitcoins than you paid for it in btc. Then buing the miner would have been the better desicion, rather than just holding on to the bitcoins.

I don't buy miners in BTC, I buy them in USD. If I make more USD than I paid I have a positive return.

For a person interested in mining as a hobby, and a chance of being apart of this great experiment we call bitcoin, thats all the logic you need. But for someone whos looking att the bottom line and maximizing his profits.... not so much im afraid.

OmegaNemesis28

sr. member

Activity: 280

Merit: 250

With the way the difficulty is raising, Im kind of getting a bit flaky on my Mercury preorder. I finally got my god damn BFL Single and Im not feeling it. Maybe I'll sell the Single and just wait for the Mercury....

alfabitcoin

sr. member

Activity: 476

Merit: 250

Quote from: timmmers on August 31, 2013, 08:02:08 PM

Quote from: Ytterbium on August 31, 2013, 12:17:32 PM

Quote from: timmmers on August 31, 2013, 07:18:43 AM

So. If I buy a Jupiter now and mine just ONE BTC with it and BTC rises to 10k I won't be in profit?

Not if you paid with 70 bitcoins. It would mean you lost $690,000

If I bought a jupiter NOW (which is a fucking long way from 700k because NOW BTC are more like 140 dollars NOW), then they RISE to 10k dollars each (which a shitload higher than their 140 dollar current value) and I managed to mine just one BTC when I got the fucker..assuming I didn't leave it sitting in it's box for years ...I'd be not only in profit but better at maths and comprehending english than some people here.

I made the numbers extreme and round to illustrate a point so it was easy to understand. Waste of time.

You dont see the point. Why to mine one btc with 8000$ hardware when using the same logic you can buy btc at140? There is a diference what we try to explain.

keyzersoze

sr. member

Activity: 476

Merit: 266

Quote from: timmmers on August 31, 2013, 08:02:08 PM

Quote from: Ytterbium on August 31, 2013, 12:17:32 PM

Quote from: timmmers on August 31, 2013, 07:18:43 AM

So. If I buy a Jupiter now and mine just ONE BTC with it and BTC rises to 10k I won't be in profit?

Not if you paid with 70 bitcoins. It would mean you lost $690,000

If I bought a jupiter NOW (which is a fucking long way from 700k because NOW BTC are more like 140 dollars NOW), then they RISE to 10k dollars each (which a shitload higher than their 140 dollar current value) and I managed to mine just one BTC when I got the fucker..assuming I didn't leave it sitting in it's box for years ...I'd be not only in profit but better at maths and comprehending english than some people here.

I made the numbers extreme and round to illustrate a point so it was easy to understand. Waste of time.

I think hes saying that if you kept the 70 bitcoins, and never bought a jupiter, then youd have 700000 $ once the bitcoin hits 10k$. If however you manage to mine more bitcoins than you paid for it in btc. Then buying the miner would have been the better desicion, rather than just holding on to the bitcoins.
Say you manage to mine 100 btc, Thats 1000000 $. Anything under 70 btc, and youd have been better of keeping the coin instead of buying the miner.

markm

legendary

Activity: 2940

Merit: 1090

Check out how many coiledcoins and geistgeld a Jupiter would merged-mine per day.

Where you going to buy that many to hold instead of mining them?

You already missed out on merged mining lots of i0coin and groupcoin per day at low difficulty, where did you buy those instead of mining them?

-MarkM-

Xialla

legendary

Activity: 1036

Merit: 1001

/dev/null

SEPTEMBER.)

DPoS

sr. member

Activity: 462

Merit: 250

Not sure if the trolls fed on this nugget yet: (from their update FAQ)

Why are you selling the Miners and don’t mine yourself (will you use the miners for mining yourself)?

We are mining ourselves, but we believe in the bitcoin project and a diversified market is the best for all parties. We will continue to mine but we do not believe in a monopoly of miners. We will not mine with more than 5% of the hash rate we sell, and we will never mine with customer hardware.

timmmers

sr. member

Activity: 1176

Merit: 265

Quote from: Ytterbium on August 31, 2013, 12:17:32 PM

Quote from: timmmers on August 31, 2013, 07:18:43 AM

So. If I buy a Jupiter now and mine just ONE BTC with it and BTC rises to 10k I won't be in profit?

Not if you paid with 70 bitcoins. It would mean you lost $690,000

If I bought a jupiter NOW (which is a fucking long way from 700k because NOW BTC are more like 140 dollars NOW), then they RISE to 10k dollars each (which a shitload higher than their 140 dollar current value) and I managed to mine just one BTC when I got the fucker..assuming I didn't leave it sitting in it's box for years ...I'd be not only in profit but better at maths and comprehending english than some people here.

I made the numbers extreme and round to illustrate a point so it was easy to understand. Waste of time.

timmmers

sr. member

Activity: 1176

Merit: 265

Quote from: titomane on August 31, 2013, 10:48:46 AM

Quote from: kano on August 31, 2013, 10:42:20 AM

Summer just ended here in Aus ...

Not to sound pedantic. But to be exact the summer ends on 21th September +-12hrs in the northern hemisphere

https://bitcointalksearch.org/topic/m.3043021

That's not pedantic, it's not the 21th, it's the 21st ...that's pedantic Cheesy

klee

legendary

Activity: 1498

Merit: 1000

Quote from: Bitcoinorama on August 31, 2013, 07:50:51 PM

Quote from: DPoS on August 31, 2013, 07:48:10 PM

Quote from: JohnyBigs on August 31, 2013, 01:09:07 PM

Cant wait for the idiots to get their devices October 28 and other people November 1st for $3, 000 less, I'm sure they will come up with some brilliant math about how losing money is profitable if xyz the earth tilts its axis happen. Or I profited $400 now I just need Bitcoin to go to $10, 000.

wah wah.. I guess you aren't a day 1'er.. cry cry loser

Do you want to know the funny thing, JohnyBigs rates Xcrowd as legit.

Bitcoinorama

hero member

Activity: 532

Merit: 500

Quote from: DPoS on August 31, 2013, 07:48:10 PM

Quote from: JohnyBigs on August 31, 2013, 01:09:07 PM

Cant wait for the idiots to get their devices October 28 and other people November 1st for $3, 000 less, I'm sure they will come up with some brilliant math about how losing money is profitable if xyz the earth tilts its axis happen. Or I profited $400 now I just need Bitcoin to go to $10, 000.

wah wah.. I guess you aren't a day 1'er.. cry cry loser

Do you want to know the funny thing, JohnyBigs rates Xcrowd as legit.

DPoS

sr. member

Activity: 462

Merit: 250

Quote from: JohnyBigs on August 31, 2013, 01:09:07 PM

Cant wait for the idiots to get their devices October 28 and other people November 1st for $3, 000 less, I'm sure they will come up with some brilliant math about how losing money is profitable if xyz the earth tilts its axis happen. Or I profited $400 now I just need Bitcoin to go to $10, 000.

wah wah.. I guess you aren't a day 1'er.. cry cry loser

crumbs

full member

Activity: 210

Merit: 100

Quote from: ?? on ??

Quote from: crumbs on August 31, 2013, 07:13:48 PM

Quote from: DeathAndTaxes on August 31, 2013, 06:45:26 PM

...
At $0.10 per Kwh that would mean it would require $3,340.50 in electricity to produce 1 BTC. Do you think that is likely?
...

Sure -- they will be guided not by greed, but by enlightened need to secure the network Wink

"SHA256: Friendship Is Magic^TM"

Bitcoinorama

hero member

Activity: 532

Merit: 500

Quote from: CYPER on August 31, 2013, 07:16:53 PM

Quote from: Ghrindy on August 31, 2013, 06:50:33 PM

Quote from: Bitcoinorama on August 31, 2013, 06:34:03 PM

Quote from: Ghrindy on August 31, 2013, 04:15:13 PM

Anyone knows if the following will be the system-board of the KNCminer devices?

System-on-Module: ARM-SoC FPGA SO-DIMM http://www.orsoc.se/?page_id=484
+
~~OpenRISC support in latest Linux 3.1 release http://www.orsoc.se/?p=435~~

Edit: "OpenRISC support in latest Linux 3.1 release" is unrelated to the system-on-module (i think)

Looks similar, check one of the two videos I posted from the open day, not the one with the Mars miner, but the one with the die size explanation. Same shape for sure...

Thanx 4 the tip! It does look identical indeed: http://www.youtube.com/watch?v=by-je8XRCdY

Edit: to be exact: the board from your video has 1 more chip than the one from orsoc's link.

I just realised the coolers (Arctic A30) were already considered or chosen back in June:

[IMG]

Of course they were, this had been planned sometime back. They actually showed the heatsinks at the openday, and stated, "These are the heatsinks we will use, they are totally over specification for what is required".

CYPER

hero member

Activity: 812

Merit: 502

Quote from: Ghrindy on August 31, 2013, 06:50:33 PM

Quote from: Bitcoinorama on August 31, 2013, 06:34:03 PM

Quote from: Ghrindy on August 31, 2013, 04:15:13 PM

Anyone knows if the following will be the system-board of the KNCminer devices?

System-on-Module: ARM-SoC FPGA SO-DIMM http://www.orsoc.se/?page_id=484
+
~~OpenRISC support in latest Linux 3.1 release http://www.orsoc.se/?p=435~~

Edit: "OpenRISC support in latest Linux 3.1 release" is unrelated to the system-on-module (i think)

Looks similar, check one of the two videos I posted from the open day, not the one with the Mars miner, but the one with the die size explanation. Same shape for sure...

Thanx 4 the tip! It does look identical indeed: http://www.youtube.com/watch?v=by-je8XRCdY

Edit: to be exact: the board from your video has 1 more chip than the one from orsoc's link.

I just realised the coolers (Arctic A30) were already considered or chosen back in June:

crumbs

full member

Activity: 210

Merit: 100

Quote from: DeathAndTaxes on August 31, 2013, 06:45:26 PM

...
At $0.10 per Kwh that would mean it would require $3,340.50 in electricity to produce 1 BTC. Do you think that is likely?
...

Sure -- they will be guided not by greed, but by enlightened need to secure the network Wink

"SHA256: Friendship Is Magic^TM"

Topic: Swedish ASIC miner company kncminer.com - page 1737. (Read 3049501 times)