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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32389. (Read 26712378 times)

donator
Activity: 2772
Merit: 1019
I am officially mining bitcoin!!!  Grin Grin Grin

Hm, is it still profitable? Just canceled my BFL order, bastards....

i don't have a clue!

in 2 years when the contacts are done, ill let you know

my guess, i'll get the $ value i put into it for sure, no problem, but i paid in BTC... I should of held my BTC but i could not resist the numbers, at the time ( when mining difficulty had just started to rise ) it seemed like i was going to double or even triple my BTC ( even considering that dif would keep going up) , so i figured difficulty can not go up that much more then I estimate and i would at least get 110% of my invested BTC back, and so i bought like a mad fool.

difficulty rose way WAY higher / faster than i anticipated, and now i'm holding contracts that are likely not going to make half the BTC i put in...

You can figure it out.  Take the hashing rate of the contract you purchased in hashes/sec divide it by the current difficulty and multiply by 0.013064576229
The result is the number of Bitcoins you will ever make based on the current rate of difficulty rise.  The cost of electricity is not a consideration in this calculation.

Take care


I wouldn't say this is a good way... The bolded assumption almost certainly not going to hold over the course of 6 months, let alone 2 years.

You'd have to calculate different scenarios of difficulty growth.
donator
Activity: 2772
Merit: 1019
sr. member
Activity: 406
Merit: 250
I think blockchain.info's being hammered as people check out the DPR transactions, timing out now.
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
member
Activity: 167
Merit: 10
I know how vertical chartss work. But the bitcoin charts seem to be horizontal, which confuses me. Anyone care to explain how you read those things?

http://btccharts.com/

hero member
Activity: 504
Merit: 500
Why is it I see Preet Bharara's name every time a bust happens in relation to the bitcoin world? First liberty reserve, now silk road... This guy is the US attorney for the southern district of New York apparently. So why is he involved in bringing down organisations that deal in money laundering and drug traficing?
hero member
Activity: 672
Merit: 500
Any proof those are SR's earnings?

And why in blocks of 324 BTC, seems to be a completely arbitrary number?

324 = FBI on a phone keybord. (it was is Girlfriend sitting in the wafting room doing laundry)

While this sounds like conspiracy, this could be a bigger public scam than the first Pirate to hit the Bitcoin tabloids.  I will reserve judgment until I see an official statement form a related department or many reporters report of a hearing in a US courtroom.    

What?
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
legendary
Activity: 1498
Merit: 1000
We should open a new mining company. A virtual mining company that sells shares.

We will give you back 25% of your investment in 2 years. No hardware required.

Yeah. What is the problem?? If we actually bought hardware, that would further diminish the yield by increasing difficulty!!  Grin
What if a wicked billionaire bought tons of asics and put them in IDLE mode?
hero member
Activity: 728
Merit: 500
Suddenly large staggered sell walls are stacked on all exchanges. It looks like someone doesn't want us to start an uptrend just yet, or they have some DEEP capitulation to do, like in May/June. I remember both sides of order books being large like this and fighting eachother in May after the conference.
donator
Activity: 1722
Merit: 1036
We should open a new mining company. A virtual mining company that sells shares.

We will give you back 25% of your investment in 2 years. No hardware required.

Yeah. What is the problem?? If we actually bought hardware, that would further diminish the yield by increasing difficulty!!  Grin
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
legendary
Activity: 1176
Merit: 1001
We should open a new mining company. A virtual mining company that sells shares.

We will give you back 25% of your investment in 2 years. No hardware required.
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
legendary
Activity: 3808
Merit: 7912
I am officially mining bitcoin!!!  Grin Grin Grin

Hm, is it still profitable? Just canceled my BFL order, bastards....

i don't have a clue!

in 2 years when the contacts are done, ill let you know

my guess, i'll get the $ value i put into it for sure, no problem, but i paid in BTC... I should of held my BTC but i could not resist the numbers, at the time ( when mining difficulty had just started to rise ) it seemed like i was going to double or even triple my BTC ( even considering that dif would keep going up) , so i figured difficulty can not go up that much more then I estimate and i would at least get 110% of my invested BTC back, and so i bought like a mad fool.

difficulty rose way WAY higher / faster than i anticipated, and now i'm holding contracts that are likely not going to make half the BTC i put in...

You can figure it out.  Take the hashing rate of the contract you purchased in hashes/sec divide it by the current difficulty and multiply by 0.013064576229
The result is the number of Bitcoins you will ever make based on the current rate of difficulty rise.  The cost of electricity is not a consideration in this calculation.

Take care
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
full member
Activity: 309
Merit: 100
I am officially mining bitcoin!!!  Grin Grin Grin

Hm, is it still profitable? Just canceled my BFL order, bastards....

i don't have a clue!

in 2 years when the contacts are done, ill let you know

my guess, i'll get the $ value i put into it for sure, no problem, but i paid in BTC... I should of held my BTC but i could not resist the numbers, at the time ( when mining difficulty had just started to rise ) it seemed like i was going to double or even triple my BTC ( even considering that dif would keep going up) , so i figured difficulty can not go up that much more then I estimate and i would at least get 110% of my invested BTC back, and so i bought like a mad fool.

difficulty rose way WAY higher / faster than i anticipated, and now i'm holding contracts that are likely not going to make half the BTC i put in...

Yea, the other people bought like crazy too, and the difficulty rose astronomously. I saw no way to get my investment back, so I cancelled (well hope that my CreditCard company manages to get the canceling trough)

The only people who make profits with mining are the ASIC companies itself...
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