Re: Swedish ASIC miner company kncminer.com

For example even with 1 billion difficulty it still makes sense to mine with KNC Miner and it is very simple to calculate returns - 1 billion difficulty equals 7158.278TH/s, so if you have 400GH/s miner = 400/7158000=0.0000558815 shares of the 3600 daily coins=0.2011734 coins per day=6.13BTC per month.

It does. And it also, IMO, indicates the coming "New Normal" in BTC mining. No Aston Martin bought in six weeks. A nice little sideline income, a great hobby, and participation in a community. Hardware someone can buy on line, have it shipped FedEx, comes with a manual and power supply, you plug it in, and start mining.

The prices are going to need to reflect the New Normal, of course. Now they don't. But they will.

Somehow, none of that sounds like a tragedy to me.

It isn't and of course it was always going to be the case that more people would by a slice of the pie until they are no longer content with the portion. If Avalon or BFL delivered as promised on time such earlier predicted returns would have been feasible, but now of course they are to be diluted especially after the recent exposure Bitcoin has had. Anyone thinking this would be a full time replaceable income that wouldn't attract significant attention is barmy...

Yep. Individuals involved because of interest in the concept.

And yes, there will be businesses with the huge farms, like ASICminer (who I think of, and refer to, as Bitcoin Edison. You're a Brit, so may not know that, e.g., New York's monopolistic electricity company is Consolidated Edison; Chicago's is Commonwealth Edison, etc.)

Of course, but ASICminer raised huge amounts of cash knowing they had a window of opportunity for truly exponential growth if they managed to be the first to market, this of course was even before the Cypriot crisis blew Bitcoin into the mainstream media.

I was referring to the mom and pop miners thinking they could retire early, or the kids hoping to drop out of school and live the easy life...