Swedish ASIC miner company kncminer.com - page 492.

tertius993

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Quote from: sbfree on April 29, 2014, 12:18:02 AM

Quote from: vesperwillow on April 28, 2014, 10:30:08 PM

Quote from: s1gs3gv on April 28, 2014, 10:23:07 PM

I hate to be the one to break the news to you fellas, but bitcoin @ $1 is just as useful as bitcoin @ $400.

There's truth to this. There's no "reason" bitcoin has to be valued high, it's just up to what folks are willing to pay for it. Folks are just gambling that the long term value is high.

so we agree that bitcoin have value. Good.

now 12.5 million coins (give or take a few) for 6/7 billion earthlings = scarcity

according to the of economics, this makes bitcoin rare and therefore valuable. How valuable will depend on its ubiquity.

Scarcity does not, by itself, mean something will be valuable. It must also be desirable, and that is rather hard to predict.

xstr8guy

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Glow Stick Dance!

Geez, who unleashed the troll?

sbfree

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Quote from: vesperwillow on April 28, 2014, 10:30:08 PM

Quote from: s1gs3gv on April 28, 2014, 10:23:07 PM

I hate to be the one to break the news to you fellas, but bitcoin @ $1 is just as useful as bitcoin @ $400.

There's truth to this. There's no "reason" bitcoin has to be valued high, it's just up to what folks are willing to pay for it. Folks are just gambling that the long term value is high.

so we agree that bitcoin have value. Good.

now 12.5 million coins (give or take a few) for 6/7 billion earthlings = scarcity

according to the of economics, this makes bitcoin rare and therefore valuable. How valuable will depend on its ubiquity.

Epoch

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Quote from: samsonn25 on April 28, 2014, 11:10:35 PM

Quote from: Epoch on April 28, 2014, 10:52:09 PM

Quote from: BitcoinPappi on April 28, 2014, 10:40:59 PM

Batch 1 & 2 Customers get Free Neptune with their order doubling their hash rate.

Batch 1 & 2 customers who purchased with $900 bitcoins and refunded recently got double their BTC back.

But isnt the bitcoin worth half the price now even thought you have 2x the amount of coins, is the same value.

The same USD value, yes. But that is an narrow view. One could say the same thing about the value of a Neptune; When BTC was $900, a 3TH Neptune was worth $10k. Now with a $450 bitcoin, what do you think the value of that same Neptune is? Hint: it isn't $10k.

People that spent 10 BTC on a Neptune, got a 20 BTC refund, made a profit of 10 BTC. A 3TH Neptune would never mine 20 BTC in its lifetime. With KNC doubling the hashrate, though, it brings it back into profitability.

Zelek Uther

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Run a Bitcoin node.

Quote from: s1gs3gv on April 28, 2014, 10:23:07 PM

I hate to be the one to break the news to you fellas, but bitcoin @ $1 is just as useful as bitcoin @ $400.

True for small transactions, however...

With Bitcoin at $1 it would be impossible to transfer $22 million in value, because there aren't enough bitcoins. The higher value bitcoin is in fiat, the larger a transaction can be.

Another example: a wealthy person wants to store $22 million or more of their wealth in bitcoin. Couldn't be done with bitcoin at $1. The higher value bitcoin is in fiat, the more wealth we can store in bitcoin.

Same thing for 22 million people each trying to store $1 of wealth in bitcoin. Or 220 million people trying to store $0.1 of wealth in bitcoin, etc. Couldn't be done with bitcoin at $1.

The utility of bitcoin to the world as a whole rises as its fiat value per coin rises. We need bitcoins to be worth a lot (say $100k to $1m+) per coin to be useful to the world's population because there are so few coins (only ever 21 million will be made).

samsonn25

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Quote from: Epoch on April 28, 2014, 10:52:09 PM

Quote from: BitcoinPappi on April 28, 2014, 10:40:59 PM

Batch 1 & 2 Customers get Free Neptune with their order doubling their hash rate.

Batch 1 & 2 customers who purchased with $900 bitcoins and refunded recently got double their BTC back.

But isnt the bitcoin worth half the price now even thought you have 2x the amount of coins, is the same value.

Epoch

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Quote from: BitcoinPappi on April 28, 2014, 10:40:59 PM

Batch 1 & 2 Customers get Free Neptune with their order doubling their hash rate.

Batch 1 & 2 customers who purchased with $900 bitcoins and refunded recently got double their BTC back.

BitcoinPappi

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Batch 1 & 2 Customers get Free Neptune with their order doubling their hash rate --->

https://www.kncminer.com/news/news-87

Vagnavs

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For those who went with a BTC refund. How long did it take?
Best regards

s1gs3gv

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ex uno plures

Quote from: whonesta on April 28, 2014, 09:54:49 PM

thanks for donating your money to my retirement tho.. lol scrypt coins hahaha

guys like you don't retire, they just become irrelevant and fade away.

vesperwillow

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Quote from: s1gs3gv on April 28, 2014, 10:23:07 PM

I hate to be the one to break the news to you fellas, but bitcoin @ $1 is just as useful as bitcoin @ $400.

There's truth to this. There's no "reason" bitcoin has to be valued high, it's just up to what folks are willing to pay for it. Folks are just gambling that the long term value is high.

s1gs3gv

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ex uno plures

I hate to be the one to break the news to you fellas, but bitcoin @ $1 is just as useful as bitcoin @ $400.

s1gs3gv

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ex uno plures

Quote from: whonesta on April 28, 2014, 09:54:49 PM

Get in? well if that was the case then I agree.

As an individual miner, whenever you are considering the purchase of new capital equipment like KNC or Spondoolies miners, you are essentially 'getting into' mining anew. The profitability estimates are the same ones you may have applied to your S1 or other miner.

whonesta

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Quote from: samsonn25 on April 28, 2014, 10:03:35 PM

There is already a project developing to begin using them as space heaters for next Fall/Winter lol

+1

samsonn25

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Quote from: whonesta on April 28, 2014, 10:01:00 PM

Ebay is not that good anymore either. Basically I hope that infrastructure/utilization will increase, increasing fees to miners and that will in the long run == more then just buying and holding. In the present we have soo many manufacturers in "delay" that it is NOT worth pre-order as the "odds" are against it. IMHO this hardware industry is about to fall on it's face and miners(GHS) will become dirt cheap as the greedy phucks realize their dreams will not be and need to pay the bills. I will be waiting to help bail them out @ a 90% discount of course.

There is already a project developing to begin using them as space heaters for next Fall/Winter lol

s1gs3gv

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ex uno plures

Well, this is a simplistic explanation but I tend to look at these kinds of things in a simplistic way. If I were mining btc, I could and probably would convert to fiat as I mine. As a result, my revenue stream would be fairly predictable. Otoh, buyers tend to be holders rather than traders and are gambling on future appreciation.

By nature, I'd be a trader, not a miner or an investor. But when you look at potential return on the time invested, software development in the infrastructure and application space is potentially more rewarding than any other strategy.

whonesta

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Ebay is not that good anymore either. Basically I hope that infrastructure/utilization will increase, increasing fees to miners and that will in the long run == more then just buying and holding. In the present we have soo many manufacturers in "delay" that it is NOT worth pre-order as the "odds" are against it. IMHO this hardware industry is about to fall on it's face and miners(GHS) will become dirt cheap as the greedy phucks realize their dreams will not be and need to pay the bills. I will be waiting to help bail them out @ a 90% discount of course.

samsonn25

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Quote from: s1gs3gv on April 28, 2014, 09:41:58 PM

Quote from: whonesta on April 28, 2014, 09:38:25 PM

s1gs3gv == KnC Shill..

Neither miner is profitable @ $450/BTC

antMiner S1 is the only one that comes close to being worth firing up if you intend on converting BTC immediately. IMHO it is best to buy BTC and hold wait for these A$$-Hat manufacturers to get over themselves, then buy GHS for pennies as that is their value without a serious BTC rebound.

Sorry, I'm not a KNC shill. Just a guy with a sense of fair play. Buying BTC in this environment is a mugs game. You'll be panic selling when it hits 200 later this summer.

If the purpose of mining is to obtain btc coins, why would it be worse to buy the coins outright instead of buying a miner.

If btc price went to $200 this summer your $450 coins bought are valued at $200, if you use that potential money and bought a miner like a Neptune, at 38 Billion difficulty it is worthless in mining, maybe sell on ebay.

whonesta

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Quote from: s1gs3gv on April 28, 2014, 09:51:40 PM

Quote from: whonesta on April 28, 2014, 09:48:43 PM

LOL yeah panic, I was running 3 GHS of GPUs, losing $2 dollars an hour for months. Man did that work out like a MF'r..

So no skin in the game, no hardware, no BTC... yet you speak... do you know what a shill is?

The good action in the crypto world has moved up the food chain to the infrastructure and application space. No one in their right mind would try getting into bitcoin mining for profit at this stage of the game. Let go, move on.

Get in? well if that was the case then I agree. But I can see you spend most of your time shilling so I will now ignore you as nothing you have EVER said is worth reading, thanks for donating your money to my retirement tho.. lol scrypt coins hahaha

s1gs3gv

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ex uno plures

Quote from: whonesta on April 28, 2014, 09:48:43 PM

LOL yeah panic, I was running 3 GHS of GPUs, losing $2 dollars an hour for months. Man did that work out like a MF'r..

So no skin in the game, no hardware, no BTC... yet you speak... do you know what a shill is?

The good action in the crypto world has moved up the food chain to the infrastructure and application space. No one in their right mind would try getting into bitcoin mining for profit at this stage of the game. Let go, move on.

And don't forget to call me Sir LOL

Topic: Swedish ASIC miner company kncminer.com - page 492. (Read 3050075 times)