Post
Topic
Board Hardware
Re: [ANN] Spondoolies-Tech launches a new line of ASIC miners - Best W/GH/s ratio
by
murraypaul
on 28/08/2014, 13:47:45 UTC
You and me have different goals in mind. I am in for the long term while you are satisfied with a small jackpot. The reinvestment allowed me to hash today 21x faster than 1 year ago and to earn ~1/3 of my initial investment this month. From what you are saying you have stopped hashing and you have moved along. I'm not interested in that.


Difficulty now: Aug 19 2014   23,844,670,039      170,686,797 GH/s
Difficultly 1 year ago: Aug 24 2013   65,750,060      470,657 GH/s
As a ratio: 23,844,670,039/65,750,060 = ~362
So difficulty has gone up 362 times, but your hash power has only gone up 21 times.
You are hashing at roughly 1/17th the equivalent rate from a year ago.
Stopping hashing and keeping the money would seem to have been the better outcome.

Keeping up with the difficulty is almost impossible, but keeping the profits on the green is easier. I can't stop hashing because bitcoin mining is that profitable that even if the above ratio is way off I am still making a profit. If I would've stopped hashing I would've made 0 BTC and 0$.

Perhaps your original post was misunderstood, but this analysis:
My 1 year track record is that I have cashed out around 60% of my initial investment, I have reinvested into new equipment ~150% of my initial investment and I own bitcoins worth of 90% of my initial investment. With big exchange rate swings ofc.

huh ?

So by way of example if your initial investment was $1000, you cashed out $600, you reinvested $1500 (600 + 900 more) and you own bitcoins (which I presume you mined with these investments) worth $900. So at this point, you have $1900 invested and coins worth $900.

So you are still $1000 in the hole on this 'investment'. I guess your plan is to rinse and repeat this remarkable strategy.

Suggests that you don't have any profits, you currently have significant losses.