$8 million a month in Washington state - that was a year ago.  What do you think that they are making now?  Probably a lot less and maybe getting ready to shut their doors.  Everyday more hashing power comes onboard and difficulty increases - my electric bill has finally overtaken the bitcoins that I generate.  I'm running 10 Antminer S-1's and I thought about getting the upgrade kit to get each one up to 453 GH, but that will only buy me a few months until the electric bill once again surpasses my generated bitcoins.  I think that I'll shut everything down and hope that my 15 bitcoins might be worth something someday like $100k each?  I can always dream!

Cloud Mining at CEX.io - I thought that it would be a great idea to use some of my mined bitcoins to buy GHS at CEX.io, since they only charge .18 per GHS per month - that's not a lot right?  Wrong it's a fortune!.  I bought 1 TH/s of GHS power, so at .18 per GHS, the maximum fee is $180 per month.  Well that 1 TH/s of power only produces .5 of a bitcoin per month.  So, if the price of a bitcoin falls to $400, then my .5 bitcoin is worth $200.  Now subtract the fee of $180 that I was charged by CEX.io and I am left with a profit of $20.  Sure, cloud mining may be more profitable in a rising bitcoin market, but then the monthly fee would probably increase and then I wouldn't even be making .5 of a bitcoin because of the difficulty increase and all the hashing power coming on board.  My conclusion:  Sell the GHS's at CEX.io before they are worthless and use my S-1 rigs at home to heat my house this winter, while wearing earplugs.  A once profitable fun hobby is no longer profitable and definately no longer fun.

Does anyone know for sure if there will be an upgrade path for the S-1.  I am holding off on buying the S-3, if I can get the same hashing rate at a lot less than the cost of a new S-3.  Right now on Ebay, you are lucky to get $150 for an S1.  If Bitmain comes out with an upgrade kit, then maybe now is the time to buy S1's on Ebay.  I'm sure that the S3's are a lot quieter than the S1's, but it's all about cost for me and I'm sure for a lot of other people as well.  The biggest problem with the S1's now is the cost of running them.  Maybe shutting them down until we find out one way or another about the upgrade plan is the best thing to do?  Or until the winter heating season arrives.

Yes, the S1 upgrade Please!

What is wrong with your Website's Security Certificate?

The problem is not the small miners - the problem is the large mining farms/groups.  If every small miner boycotted GHash.io, it would be a very small percentage.  If you calculate all of the current hashing power, it is around 100Ph/s, currently GHash.io has around 42 or 43.  When they went over 51%, one or two large miners voluntarily pulled 8-10 Ph/s of hashing power, so as not to cause things to come crashing down.  We need to blame someone who owns 5 or 10 percent of the total hashing power pointing that power to Ghash.io.  I don't care about all of the conspiracy theories that surrond GHash, the thing that I care about is that the only thing that the small miner can do is to mine at GHash or shut down their mining rigs.  Mabe we should all solo mine and if we all get lucky, we can throw GHash a curve and cut down on all the blocks.

If you are a small miner, where can you go today to mine?  And I don't mean to mine at a profit, but to minmize your losses and come anywhere near breaking even!  Just like every small miner, I tried a lot of the different pools - Slush, BTC Guild and GHash.io, just to name a few.  I was very happy to mine at Slush's pool, because I could make more that at the bigger mining pools.  I was making twice as much with Slush then with GHash.io and BTC Guild, but then a few weeks ago, the perfect storm hit Slush - the difficulty increased and the hashing power more than doubled - it went from 2Ph/s to over 5Ph/s.  Slush went from finding 8-10 blocks a day to only 3-4 and the payout was cut in half because of the increase of hashing power.  Maybe some of the large miners pointed away from GHash.io to Slush and other pools to reduce GHash's 51% several weeks ago.

For all these reasons, I am shutting down my 10 S-1 Antminers and putting them on Ebay.

Does anyone have the Corsair 1500w:

AX1500i Digital ATX Power Supply — 1500 Watt Fully-Modular PSU

1500 Watts of continuous power, an incredible 94% efficiency rating, and Corsair Link desktop monitoring control make the incredible AX1500i the best enthusiast PC power supply you can own.

$449.99 USD

Do you think that I could run 4 Antminer S-1's? or should should I just run 3 on the Corsair AX1200i Digital ATX Power Supply — 1200 Watt Fully-Modular PSU.

Is anyone running  3 Antminer S1's on the Corsair AX1200i Digital ATX Power Supply — 1200 Watt?

Does anyone have the Corsair 1500w:

AX1500i Digital ATX Power Supply — 1500 Watt Fully-Modular PSU

1500 Watts of continuous power, an incredible 94% efficiency rating, and Corsair Link desktop monitoring control make the incredible AX1500i the best enthusiast PC power supply you can own.

$449.99 USD

Do you think that I could run 4 Antminer S-1's? or should should I just run 3 on the Corsair AX1200i Digital ATX Power Supply — 1200 Watt Fully-Modular PSU.

Is anyone running  3 Antminer s1's on the Corsair AX1200i Digital ATX Power Supply — 1200 Watt?

I have 10 S1 miners and I have 6 Thermaltake 1000w PSU's - I thought that I could run 2 of the miners on a single 1000w Thermaltake, but I can't.  I have an 850w Corsair and I can run 2 S1 miners.  None of my miners are overclocked.  Maybe by under-volting my miners, I can run 2 on one of the Thermaltake PSU's.  Will the drop in hashing be more than made up for in electricity savings by using 1 PSU instead of 2?  Does anybody have any other suggestions about why I can't run 2 miners on a Thermaltake, but can on a Corsair?  I don't want to spend any more money on buying more Corsairs'  Has anyone had this problem?  How did you fix it?

Where's the real screen!

So if coins are selling for $600, then I could buy 8 for $4,800.  What could I hope to make?  Where do you think the price is going?  Double, Triple or back down to $200.  I lost money in the stock market - I don't plan on losing money by buying coins.  I don't know why the latest strategy and suggestion is to buy bitcoins?  Maybe when you could buy 10,000 for $1 when they first came out as a joke, but not at $600.  Sure, it's possible that a coin will be $5,000 a year from now, but I have my doubts.

I am relatively new to bitcoin mining and it's really hard to decide on which hardware to buy and from where.  I see all the complaints about buying a pre order, so I will never pay for something that is not already shipping.  Then there are those obviously fake websites trying to claim that they have a 15 TeraHash miner and another that advertises that by September they will have a miner running at 6 TeraHashes for only $5,000.  And then even if you want to buy a machine that is actually real, would you send your money to China with no recourse if you don't receive your machine.  Why do these companies only want to be paid in bitcoins or with a wire transfer, if they are not scams? Now I see a company advertising a 600 GH and a 1 TH PCI card - wouldn't that be great if we could use our computers again to mine for bitcoins, but I'm not going to take a chance and pre-order one of these cards for $3,000.

I want to buy something with a credit card or with Paypay.  I have purchased my mining hardware from EBay - I have 9 Antminer S1 systems.  They may not be the latest and best, but I have received them without being ripped off.

I'd like to know what every thinks about all the scams out there and if you can suggest legitimate sites and ways to putchase mining hardware.  I really don't think that there are mining rigs for sale that are much faster than 3 TH's and they are going for close to $9,000.  I'd rather have 15 Antminer S1's to mine at 3 TH than take a chance and pre-order a 3 TH unit for $9,000.