Re: ANN: BITMAIN has Tested Its 28nm Bitcoin Mining Chip BM1382

I think that miners has to focus like a laser on what's the most important-highest ROI and drive manufacturers to provide one through the power of our purse (don't get on on sucky deals). If it is a hobby (and I respect this very much), then every new hardware is exciting as well.

The focus is certainly not on the highest ROI, typically there will be a claim about some marvelous power efficiency, then the bottom line will be the miner still draws several hundred watts. Overclocking is FOTM not underclocking, and that's whats driving up the difficulty spoiling it for all. The first thing I want to know about the S3 is can you get a good underclock happening like you could with the S1 and the pencil mod? 0.75v VDD core strikes me as a bit high. ASICminer are talking 0.55v with their 40nm offering.

yeah this gear if it comes at .8 watts at the plug for 500gh is nice . but if I can down clock to 400gh and pull 240 or 200 watts it is every bit as good as the s-1 is.

I have made my mind up to not buy it at the first offering. I have 3 s-1's doing 420gh and 560watts on underclock/under volt pencil mods I think I am waiting for the kits. Now if antminer contacts me and offers me some special deal /discount/ coupon code I may buy it.

Diff has shown it will explode so I am thinking two 25% jumps are coming. I am not sure I want to buy into the teeth of that. I can sit back and wait to see if btc goes up to 700 or 800 usd.

I'm also a bit afraid of the massive 20+% diff jump plus government auctioning 30,000 BTC. For some reason it doesn't feel like the right moment to get in.

i am going to disagree with you two and here is why .. the current tax rules by the IRS in the usa is that mined coins are taxed as income at the value of bitcoin at the time the coins are mined, and then if you hold those coins for more than one year then your taxes are capital gains tax. What that means is that a low bitcoin value is the BEST time to get in. Waiting for bitcoin to increase in value before mining is a bad call imo unless u do not believe that bitcoin will continue to increase in value in future. or u are mining to sell ur bitcoins immediately and don't mind paying more in taxes. I think it is best to mine bitcoin all the time (although bitcoin value = low = best time to mine bitcoin). just my opinion about that. and with that all said i agree with philip in that i do not know when i will buy S3 but I do know I will be buying a few for sure.

You are working on the assumption that the value of Bitcoin will go up That is 100% speculation .. Per what the original poster stated, with the pending auction the value of BTC is being speculated to go down . Cant say one way or the other at this point This auction brings up a very important flaw in Bitcoin.. Personally I don't think the FEDs should have the right to auction this off.. I think that the future system needs a way to FLAG coins that are obtained by nefariouse means, and those coins should be put back into the block reward system .. Thats just my opinion .

that's right i am speculating that the value of bitcoin will increase in the future. when i say future i mean 1+ years after a coin is mined. i speculate that precious metals will increase in value in the future too because i believe they are manipulated down atm. and i speculate that the usd reserve currency is on deathbed too (and i have many reasons why i think this). if i did not speculate in these things then i might be a fool with a bunch of money in the stock market because i would believe what the janet yellen @federalreserve tells me to believe that the us and world economy is doing great. unfortunately i just do not believe her. bitcoin is going to have to handle this kind of 30k bitcoin auctions by us marshalls situations. if the 30k auction causes bitcoin to dip then that means we will pay less income tax on our bitcoins mined while the bitcoin value is lower. you seem to be worrying that bitcoin will crash and die because the marshalls sold 30k bitcoins.. if they sell them then that means someone bought them. imo the current economic situation requires us to speculate in things because if u leave ur money in cash usd reserve currency then u speculating that the usd reserve currency is going to maintain it's value. if you do not have faith that usd reserve currency will maintain its value then one must speculate and convert that usd reserve currency into something else that you do speculate will hold or increase in value. like buying miners for example.