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All that needs to be said
It's a Pre Order. December deliver is not a gurantee, look at all the others, Alpah, Tech, Flower tech, Fib, KNCminer, late on their deliveries.
IF is gets delivered in December (during the holidays, which we know is the best time to ship anything!!!). that is 3 months from now. That is like 3 years in the non crpyto world.
Will it ROI. Well Difficulty is near 36,000 right now. Where was it 3 months ago? Oh head 15,000. It went up 140%. So by December the difficulty will probably be around 86,000. So how long does it take a Bitman L1 to ROI at 86,000 difficulty? Based on current LTC BTC prices... 178 days. And this is assuming that difficulty will be fixed at 86000 for the 178 days. If we assume a modest 2% increase we are talking 239 days.
Will it ROI? It all depends on the world you think you live in. One that suspends reality where you ignore the facts and shove fists full of dollars at preorder nightmares or a grounded world where the data speaks for itself. Do you believe in math or faith.
It's a Pre Order. December deliver is not a gurantee, look at all the others, Alpah, Tech, Flower tech, Fib, KNCminer, late on their deliveries.
IF is gets delivered in December (during the holidays, which we know is the best time to ship anything!!!). that is 3 months from now. That is like 3 years in the non crpyto world.
Will it ROI. Well Difficulty is near 36,000 right now. Where was it 3 months ago? Oh head 15,000. It went up 140%. So by December the difficulty will probably be around 86,000. So how long does it take a Bitman L1 to ROI at 86,000 difficulty? Based on current LTC BTC prices... 178 days. And this is assuming that difficulty will be fixed at 86000 for the 178 days. If we assume a modest 2% increase we are talking 239 days.
Will it ROI? It all depends on the world you think you live in. One that suspends reality where you ignore the facts and shove fists full of dollars at preorder nightmares or a grounded world where the data speaks for itself. Do you believe in math or faith.
Not going to ROI if my calculation is right... Have electricity to pay
Re: Shall I take out a high interest rate loan to buy more Bitcoin?
I cannot resist these cheap coins 
How high is the interest? And yes I will do that too..
How does that help?
Mining produces heat => warm room => profit covers power costs to heat the room
(needs very cheap elec, of couse)
Very optimistic view on counting the costs of mining
I have a very cheap electricity but even for me and my PC it's hardly profitable to mine with GPU. No doubt GPU mining is dying and there are less people who'd like to spend a lot of money on the gpu miners/ graphics card/ electricity / etc
Sell your GPU before the next generation comes..
I was thinking the next generation coins has already come. What is in your understanding of ''second generation''
Next generation gpu is coming, GTX 980 and R9 390
Re: New to mining Bitcoin...what MH/s rate should I expect?
I recently started mining bitcoin through Slush's pool and am just wondering what MH/s rate I should be expecting and if there was anything I could do to speed it up. I'm not a tech guru and have it set up on my Imac that has a 3.06 GHz Intel Core 2 Duo processor and a ATI Raedon HD 4850 512mb Graphics card. The maximum rate I've been getting is about 40-41 MH/s. Is this par for the course for the limited hardware I have and is there anything I can do to speed it up? Thanks.
Mine on wafflepool, you will get more bitcoin this way because you are mining other more profitable algo.
Why would anyone sell it for less than they could make by keeping it?
Yes, space and heat problem...
I believe that Antminer S4 will come out in October. Just a hunch
a long way out. 35 plus daysAgree, after 35 days the difficulty would increase at least 50%.
Re: Are asic miners really as effective as heaters for the winter?
The popular opinion seems to be that all the power than an asic miner consumes ends as heat, so they are as effective for heating as a heater.
So, if you are going to pay for that electricity anyway, better put it through a miner, so you offset some of the cost with the bitcoins it makes.
Is that really the case though? Are they as effective at producing warm as the conventional stuff and which ones? Since there are many types of home heating devices, each with different effeciency.
So, if you are going to pay for that electricity anyway, better put it through a miner, so you offset some of the cost with the bitcoins it makes.
Is that really the case though? Are they as effective at producing warm as the conventional stuff and which ones? Since there are many types of home heating devices, each with different effeciency.
Yes, I believe it is as effective as heaters unless you are using gas or wood.
Re: Downward pressure caused by mining? (Coindesk's Citi article)
Quote
The Citi analysis points to the increased sophistication and cost of mining as a major driver for growth in bitcoin supply.
As mining costs rise, miners come under pressure to sell their freshly unearthed bitcoin to recoup the costs of their investment in equipment. Citi notes that about 3,500 BTC are mined daily, against a backdrop of 60,00010,000 BTC in daily trading volume in recent months. The research note says:
If the miners are a steady source of supply and there is no increase in final demand, we have this overhang of bitcoin being sold in the market. In consequence, we have downward price pressures.
As mining costs rise, miners come under pressure to sell their freshly unearthed bitcoin to recoup the costs of their investment in equipment. Citi notes that about 3,500 BTC are mined daily, against a backdrop of 60,00010,000 BTC in daily trading volume in recent months. The research note says:
If the miners are a steady source of supply and there is no increase in final demand, we have this overhang of bitcoin being sold in the market. In consequence, we have downward price pressures.
I'm interested in knowing more about this, specifically about the downward pressure caused by miners selling their bitcoin. What type of pressure could this be causing? Anything measurable?
Its just simple supply and demand, miner mines coin which is supply.
Have your parents sign up for a Coinbase account, and buy $350 worth of Bitcoins, which is about 0.68 BTC.
Sit on this for awhile. Stick around Bitcointalk for awhile, and stay active in the forums. Once you're Jr or Member status, join a sig campaign, and keep posting to earn more BTC. Keep on grinding and keep on banking coins. Don't ever spend it.
Whatever you do, do not start mining. $350 will never get you close to ROI on any equipment you buy.
Sit on this for awhile. Stick around Bitcointalk for awhile, and stay active in the forums. Once you're Jr or Member status, join a sig campaign, and keep posting to earn more BTC. Keep on grinding and keep on banking coins. Don't ever spend it.
Whatever you do, do not start mining. $350 will never get you close to ROI on any equipment you buy.
Great advise, also don't forget to secure your wallet..
Hi everyone,
I've just ordered two Antminer S3's (Batch 8 ) and am in the process of selecting an appropriate power supply to run both of them simultaneously.
After my initial research I was leaning towards the Seasonic X-1250. However, I've just read in some threads recently that Seasonic are a bit deceptive with amperage ratings of the 12V rail. Does anyone have experience with Seasonic PSU for Antminers that can give me any guidance as to whether this PSU can handle both S3's?
Any recommendations would be greatly appreciated
I've just ordered two Antminer S3's (Batch 8 ) and am in the process of selecting an appropriate power supply to run both of them simultaneously.
After my initial research I was leaning towards the Seasonic X-1250. However, I've just read in some threads recently that Seasonic are a bit deceptive with amperage ratings of the 12V rail. Does anyone have experience with Seasonic PSU for Antminers that can give me any guidance as to whether this PSU can handle both S3's?
Any recommendations would be greatly appreciated
Seasonic is a good power supply, if you are only putting 2 s3 you can pretty much overclock it.
Amazon will definitely be a better provider for Twitch than Google.
Nah, I always believe google is much better...