Quote from: Searing on September 01, 2014, 05:22:28 AM

Quote from: jtoomim on August 31, 2014, 10:18:19 PM

Quote from: Master One on August 31, 2014, 06:23:13 PM

I am at an undisclosed location here in Europe and the best price on energy I can get is 0.1093 /kWh ~ 0.1458 $/kWh exclusive VAT (and we have 20% VAT here, which I may or may not be able to omit, depending if I can let the company pay for and operate my mining endeavor).

And NO, I'm not in the least interested in any cloud or data center mining offer!

Mining margins are going to be getting much thinner as time wears on. Only those with the cheapest (and hopefully also cleanest) electricity running the most efficient hardware will be able to make a profit. That's when people will stop adding to the network hashrate, and the so-far inexorable push of the difficulty will finally meet its end. There are places in the world that pay 1/7th of what you do for electricity. I'm in one of them.

If you insist on mining at home, then you have three options, as far as I can see it. you can either

1) Move somewhere with cheaper electricity,
2) Mine at a loss, or
3) Stop mining.

Yeah I did not really want to get a refund for the august GB order (just sent in my bank info to spondoolies for the refund as they are ready to send it) but man I wanted one as a home miner and an SP30 bad...bad..bad...then found out about ...the noise issue...the power went up....and me at 15c/kwh it made no sense..so then I dumped 1800 usd for the 6 months hosting....(saving $194 over my mining at
home in elec costs)....so thought I was pretty much stuck..no refund...forced to chase GB hosting in order to
at least break even on electricity and the noise issue such..and alas ... no refund option I thought just gonna have to lump it
.....cross fingers my 100amp elec panel was adequate vs me paying $2.5k for a 200 amp re-do.....ah the joys of bitcoin and pre-oders and being a miner...

..then spondoolies (Guy) on this thread said GB users could get a refund...likely because the GB did not meet the specs hash
and power usage wise ....had to read that a few times to make sure it was frigging real....and I grabbed it....kinda desperately I might add....... as a home miner type I was already
well out of my depth with what spondoolies kept recommending as a commercial unit that should be hosted as such and me trying (failing)
to morph it into a home miner......then punting it back to Aug GB hosting...etc

Really like the company..but expected (my mistake I might add) that I could somehow run this beastie at home..but with the hash down from 6TH to 4.5TH and up
in watts from 2500 to 3000 watts...and of course then I find out about the noise issue (got a cheap decibel meter on amazon 25 bucks ..amazing how loud 69db can
be (my canister vac cleaner is 69.3db) with the basement windows open....dogs bark..... neighbors inquire..it did not bode well... sheesh)

so....really like the company...was not really enthused about being a 'hosted miner' so hell I took the offered refund with gratitude .....alas I still lust
after their machines..but have to grow up and face the fact home mining is likely dead after this year....it frigging makes no sense in my circumstances...although
this had to be beat into my head

so imho looks to me (esp at BTC price point of $475 usd today) that I seem to be out of the home mining biz....btc mining is going/has gone whatever commercial...

always the last guy to get the joke don't ya know..duh... (do have a non ROI KNC Titan coming so the joke is still on me..that truly is no refund...oh well)

so anyway unless I get fired up about a pre-order to host someplace....I guess I'm out of the miner game...if for some reason/miracle spondoolies makes something
I would be comfortable with in the future I'd buy it....but the trend is commercial ..and I will just have to suck it up like the GPU guys had to do when ASIC's came
along and move on...

(move on ..not big on hosting miners....cloud mining...nor the GAWminer hashnet whatever....so....frack....looks like www.coinbase.com is the way to go..just frigging
buy con..argh.....especially if BTC keeps dropping...boring....no whirly soothing sounds..no pretty LCD lights...no comfort in babysitting the beast every day and watching it hash ...

a lost art I guess..

anyway spondoolies came thru on the refund and again I'm grateful......just gonna have to use my NON ROI KNC Titan (no refund) for good....start a gang of NON ROI Titans to launch
51% attacks against new sh*ty alt coins etc....get some spandex and a cape...make a secret lair for meetings..yeah theres the ticket....should be able to run them pretty lcd lights on
that beast a long long time w/o worrying about pesky ROI

so it goes

thanks again Guy and Spondoolies ....I appreciate the refund offer ..you did not have to make such....I am grateful and will try to herd some business your way if I'm asked
to make up for the refund to myself....I should be able to pull that much off within the next 1/2 year....

thanks again

Searing

Well said buddy. I'll be VERY CLEAR about this, I DO like SP I just didn't like what just happened this time, but as a result of this mess up I'm unable to continue buying mining hardware in the future unless SP come up with some 8TH with some respectable power rating and on the condition the rate improves back to about 650 USB to 1 BTC.