Topic: The difficulty HAS BEEN REDUCED!!!! - page 10. (Read 25892 times)

sorry to break it to you but it's going up 15% on this next jump.

you should reconsider it, the next diff will be +14% at least...

I am Glad to see a reduction in bitcoin difficulty, I was getting ready to pull the plug altogether

In Turkmenistan it's free for all citizins....

There is many places where electricity is below .10$/kw/h

some user can abuse some power in their country, there was a photo about it, dunno it was really china or another country like vietnam

Since when china have free electricity? Probably if you own the power plant but am I missing something?

Why does it have to be a company that you know? You always want to know everything 

You really think is that expensive to setup a business like that?

My guess is that the next gen ASICs are already starting to hash. Its the old ASIC manufacturer's trick - build the next gen ones with advance money, mine and increase the difficulty, and then give it to the customers when diff is already high. 

china is my guess, they have easy access to asic and other stuff, they have free electricity also

Ok, so let me ask an on-topic question:

Where the hell is all this hashing power coming from?

Based on bitcoinwisdom it looks like we went from a 5% drop in hash rate to a 3.5% increase in a week. 8.5%. What's more it's taking on average 9 minutes to find a block, or a 10% boost in hashing power (or serious luck).

Where did 10% of new hashing power come from in 7 days? Bitmain? Maybe, but 30 petahashes (10% of 307ph) is 15,000 2th miners. That's either a lot of miners or my math is way, way off.

Obviously

Ok. So you have factored in the opportunity cost of using the warehouse, your time, maintenance time, electricity, taxes, initial investment in gear, and such into the 300% rate of return?

Already owned warehouse, very cheap electricity and efficient miners, plus constant maintenance

The hell of a business

300% a year proof good luck on that then. Find it very hard to believe coinciding I been an early adopter of mining since early days of Bitcoin and other alts. 300% a year maybe if you got free energy or good contracts and cheap equipment. Far better ways to earn with crypto than mining now. Mining can be profitable providing many factors that I do not interned to speak of here, that's for other places where I help people build their stock and revenue from. How a business works is very simple only the admins and CEO of a business profit or actually give back to people but at a long time frame. Given a number of company's I am in they make promises to return in a 4 to 6 month time frame however they forget to factor a lot of things in. I like them all the same but far better things to put crypto or real money into than mining.

Not giving advice to anyone, just wanted to explain it to you

Dummy christmas!

No problem at all, mine like hell and enjoy your returns. Hopefully people that follow your lead and advice will come back to thank you. :-)

And happy holidays!

Allright so all youve done in mining is with that scam company products, now I understand!


Im just trying to explain you how a business works, because you seem a bit lost in the economical environment


Wont bother anymore, far better that people think mining is not profitable dude, meanwhile ill keep my farms up and returning 300% a year (what a loss )

Cheers 

Really? So tell me what the rate of return is on some of these mining farms (on average, include *all* in a given class, and don't make it "people with an in with equipment makers). Remember you can cherry pick a ponzi to show amazing profits as well, so be sure to include all of them.

Um, it doesn't matter if you have one miner or a million. If the cost of electricity is more than the amount the unit can hash (don't forget to multiply by .3 for the cooling!) you will run at a net loss. If the cost of electricity plus investment costs is more than the unit will make in an operating lifetime, you will not make a profit. Economies of scale have some value, but oddly enough the profit per miner on a single guy's miner is probably higher than the ppm for a farm where they have to pay higher electrical rates and the cost for cooling, space, etc.

Now, if you add *VALUE* then that is a very different story. I made a good profit in mining not by running my one little jalapeno at 5gh in August 2013, but because I boosted it to 20gh then 24 with my own brains and skills. I added value. If you build a new super chip you can make money selling the equipment, and possibly make good profits mining, but that's because your design added value to the universe.

Sorry I really get *VERY* annoyed at the concept that mining is "free money". Too many people have been fucked over by that. The more people that get into it, the lower the profits because the mighty profits are 25 bitcoins every 10 minutes spread across *all* of the miners. That don't change. And the more people who go in with expectations of a negative return simply turn a queen's race into a dollar auction.

Never play "dollar auction" by the way. :-)

Mining is a quite proftitable activity, and the only business where you get your $ back in less than 6 months, and all of that at these awful prices and high diff


So please stop saying that, if youre a kid with some miners in your home room of course you mine at a loss moron, were talking business here, home mining is dead ages ago, except for free electricity folks