Topic: WTH BTC Jumped 20.06%. Is this a fricking Trend? (Read 2034 times)

well on the above (price does not matter to me because my titans are paid for) I will have 740mh (got me a cheap 100mh of titan cubes last week ..cheap in the sense i mined
the 160 LTC paid for 95c an LTC ie electric per month vs LTC coin output...got to love ROI)

anyway 740mh I can run with that pack .DEPENDING on how high and how much the difficulty for say LTC and/or scrypt goes up BUT my elec costs will be at 2x at least
the above..again my elec costs in comparison to the new equip above....but then again my equip has ROI'd so all and all ...if scrypt is not completely swamped by difficulty rise...I can run with that pack.. in that I don't have to 'buy' the above beastie (just slip in the herd and electrically 'sweat' more perhaps)

What is the assumption on price above at what I'm running next week ...about 740mh or does no one know that yet?

The price will jump a lot in 90 days. I think we should know the results of the block size increase before then.

Reminds me of the days when the first Avalons came out and people with massive card farms like myself were getting pushed aside by people with a few ASICs 

The problem is they have these two chips with no new news.   They took a BIG task doing 2 chips at the same time instead of one.  I would have focused on A3 (btc chip) as it is biggest seller most likely and do A4 later.

We still have a lot we just don't know and Bitfury seems to have a huge jump on next gen.   Guess we will see what happens But I don't think Innsilicon is one of the companies adding hash right now, but I could be wrong.

A4 Dominator ASIC & Miner Specifications:

    A4 ASIC: 3Mhs per chip at 3.6W nominal, support DCDC less PCB
    Extreme Low Power: daisy chained ASIC running at 0.7V, only in 14nm
    Miner Performance: 600Mhs from 720W at the Wall or 850Mhs from 1020W
    PSU Requirements: common PCI-E 8Pins/6+2Pins with 12V output
    Included: Raspberry Pi running the most user friendly A2 terminator Software

https://bitcointalksearch.org/topic/innosilicons-a4-dominator-12wmhs-14nm-asic-and-miner-open-for-partners-1251930

as to your above on the titan miners its true.....BUT without some kinda price rise (BTC with LTC tagging along or something) when SUMMER or I should say 'heat' comes
I am beyond screwed....on PAPER it should work ...but it is one thing to have 2 titans at 2500 watts heating your house and a reduced winter electric rate from 13.7c kwh
to 0.0966c kwh so again ...the price better pop before such....or even us Titan owners are gonna be scratching our heads about how far to take home miners

but yeah we are killing it this winter ..but soon heat will be a problem and the increase in electric...so these prices for BTC and LTC can't hold for home miners for sure

but likely some data halls are gonna be facing the same issues at these prices (esp btc with difficulty rise) even if doing scyrpt or LTC due to same summer heat issues

just saying ...I see a cliff ahead of sorts...and no 'price bridge' in sight and still running at a full gallop ...all very exciting till the sudden stop!

Anyway just to put the above from a guy running 2 Titans as a perspective so to speak

I would just love to know where all this hashrate is coming from?!?!?!?
How is it possible to deploy multi PH farms in a matter of a week / days???
How is it possible to even build hardware this quickly?!?!

Seriously WTF?!

Its extremely disappointing!

Well, I just run a couple SP20's now for heating my place ... if you're a home miner at this point ur strictly doing it as a hobby or on stolen power rofl!
Buying any new hardware for a home miner is never gonna ROI unless price skyrockets which most likely wont happen anytime soon.... if ever...

Scrypt mining w/ an effecient ASIC is where its at now for the home miner. Theres still a really good profit margin when mining w/ either a Titan or gridseeds(forgot their new name) hardware.

Lastly, when the halving comes, many large farms are gonna see a massive rude awakening ... either price is gonna double(doubtful and it already has taken into account the last couple months price movement) or farms are gonna shut down(more likely) .... but most likely its gonna be a combination of both. Like LTC's recent halving.
Also, the reason I think the price has already adjusted(nearly) is because it doubled from the low 200's we were at for these last couple months ... which is EXACTLY what happened w/ LTC's halving, a month or 2 prior to the halving its price saw a really large bubble ( $1.50 -> $10 ) ... then the halving hit and the price eventually settled to $3(double what it was for a year or more) ... hashrate has barely budged.

Of course, I understand what happened w/ LTC doesnt predict what will happen for BTC halving, but its a very similar trend thus far.

Check this block generation time vs difficulty (second picture on page)

https://bitcoinwisdom.com/bitcoin/difficulty

Earlier Blue line Average block generation time of 2016 blocks did not cross the difficulty line during 2016 blocks time, during last 2016 blocks it crossed the blue line after ca 7 days. Now during this latest difficulty it has crossed the red line almost immediately  

What the heck. Are there some new 16nm miner on line?

I don't know about free but I do wonder on ones like HaoBTC - https://bitcointalksearch.org/topic/--1072474 .  Great read if anyone has not yet, but Eric took tons of amazing pics.

But they built it very close to a dam with hydro.  It's operations like this I wonder what they pay.  It would not be free, but if the company had that much extra unused electricity I would think they would get a sweet deal on electricity.   

i'm curious to know, if there is any mega farm out there sitting on free power, it would be terrible for the mining scene, since no value or halving will stop their mining ever

Not sure about the rest of you but these guys claim 8c kwh price or thereabouts on hosting....only thing I
know is they reply promptly..in that I have 13.7c kwh coming after my winter reduced rate of 0.0966c kwh goes away

I may have to look into this...so yeah the price better pop in the next 90 days like stated above by philipma1957......

https://bitcointalksearch.org/topic/m.13819443



or all screwed...(I too have been also cleaning up $$$ on the heat benifit of 2 titans...but that will bite me in the butt this summer)


anyway the folk that I was pointed to in Canada

http://www.greatnorthdata.com/


again just tossing it out there ..don't know much more then they reply to email promptly ..perhaps others will know more and again

they may have a 'time limit' you have to host your units for

but only thing that comes to mind for you folk still mining BTC ....me I have Titan Scrypt Miners and such so not in such 'dire' straights yet (ltc to btc when the spirit moves me)

anyway am building a messed up titan cube unit of 3 or 4 cubes prob will mine at 3/4 rate of regular Titan at best..I MAY at the end of spring have to

do something like this then.....trying this 'ugly' unit hosting with them to see how it all works (have never hosted before)


...from what I gather on here NOW with the BTC asic miners on this thread you are 'already' doing so or should have done so yesterday me thinks...hosting that is

hope it helps..again all I know is a few said to try these guys and they reply promptly to email...and last I got an email it came out to about 8c kwh with fees etc included

on ONE TITAN ..your own equip you'd have to email them

good luck w/o  a price rise in 90 days (or less) this could be moot for me/us by the middle of summer

I keep hoping we will see a rise in bitcoin prices.  It would be great if we do.   But hard to say what will happen.  I think a lot of BTC will be mined and go straight to fiat to pay for this extra hashing that we now have.

If these big operations do trade daily to fiat... that is a lot of push downwards on value at least I see it that way.

I see a move to 1300 then 1500 ph very fast.  I see us level off near 2000ph.

I am very negative on btc diff rise as I see it to be huge.

I hope for a price rise.

my power cost for feb mar and april will be 900 usd total minus 300 heat value so that is 600 usd out of pocket.

I positioned myself to have that power money in hand.

I am hoping for a good price jump here. In the next 90 days.

I just wonder where this massive increase is comming from. Is it one pool that is gaining a massive amount of hash power or is it spreaded over several pools?

man your return on investment depends on the btc price. you can't rely on those simulation simply because the price variable is the most important
one day you have 100, the next day you have 70

Estimated Next Difficulty:   174,201,188,435 (+20.88%)    

source: bitcoinwisdom.com

.03 cent's I think is on the low side for most.  But it's hard to say what most commercial operations are getting.   Were talking about a industry where most are privately owned so they don't really put out data.  They are also all over the world so it's not like one size fit's all.

How do you know most big farms don't have access to such cheap electricity? I have not found anything that really publishes their price on huge commercial operations.

to your point I have large scrypt miners..the heat help (heating house 2 titans 2500w) and the reduced by 1/3 about elec rate for winter ..it kinda works

if folk are correct an 650 usd btc is coming this year at current 0.008 ltc to btc that is 5.20 per LTC say...so hell i may even make it thru next winter into

spring of 2017.....but hell of a way to run a crypto home miner setup

if you are doing ltc to btc say and already have the scrypt equip this kinda/sorta floats (badly)

just to clarify...i see no way a home miner direct btc as a btc miner could do the above anymore ..even with the above angles


so sad....when these titans brick themselves......i really had the home miner bug bad

big farms, don't have acccess to such electricity value, the lower i've heard of is 0.03, which is pretty good

that's why they are going with the new 16nm, which are coming before the halving

Even $0.03/kWH is not low enough to make s7 miner worth buying now. Should be below $0.02. Such prices do exist, in Venezuela, parts of Russia etc.

I like that Diff level is rocketing. I pay average 0.05€/kwh and all mine miners is used for space heating without option to use heatpumps so I can do profit even Diff level is 1000... Btw. Actually there is no even limit for that. It will be it in 2017. What comes to Bitcoin price, this around 300-400€/btc is good level I hope it going to be this level for years that price changes going to more stable.

Estimated next level is over 170

Difficulty Rise Acceleration. How long? 5-20% jump for every check point until sun will fade away.

This time last year whole pools announced they were shutting down because they couldn't make a profit from mining at the low prices Bitcoin had fallen to. The price dictates which miners continue mining, the miners don't dictate the price people are prepared to pay for a Bitcoin. The difficulty won't make the price rise.

If you dont find the heat generated usefull, then yes its impossible for home miner to make a profit. About the break-even before write-off of the equipment, it is all based on future difficulty which is hard to predict, there were long periods with constant difficulty, so dont expect such difficulty increases forever.

This just comfirmes that the price needs to rise, otherwise miners would lose money -> stop mining. So my prediction is the difficulty pumping up just likes this, because of faster miners, so BTC has to take them in to account (they mine fast -> the difficulty rises faster).

You scared me I though BTC price jumped 20% Oh well...

Those costs per power unfortunately means it is next to impossible for any home miner to ever make a profit any more. Atleast I pay more than 0.2 per kw/h, which means that it is about break even before write-off of the equipment.

Guess i'll stick to buying directly instead of mining.

it was expected, because...

1 antminer s7 can do 0.0164 btc daily equal to 0.5 monthly = $189

consumption of many big farm at 0.03-0.05 cent per kw/h is $45 per month, so you see still plenty of margin

the diff will increase even further at least until 200B, +50% more

Well kinda looked at the difficulty jump for BTC it was a horror! I mean 20.06%!!!

So is this gonna be a trend for 1 more difficulty timeline...2 more.......4 more ..hell who knows 'secret data halls' and 'known data halls' it is like
an Illuminati conspiracy around here with all the btc/crypto soap opera action

Anyway looks like worst of all worlds lately .....and perhaps for a bit .....btc devs conflict/press FUD/difficulty huge rise(s)?/price kinda sucks/etc etc

So anyway this thread is to vent...how long is this gonna pop at this rate in folk's view?

NOT the way I pictured it at this point heading towards HALVING (my poor newbie 2013 self would have been so disappointed)

So feel free to comment on trends/info/data halls/etc that effect the above either briefly or long term so we can all 'brace ourselves'

BTC always the fun carnival ride..till you get off for a brief spell and then 'puke'