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Showing 20 of 32 results by sheebang
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Board Mining speculation
Re: STOP!!! Do not buy that new ASIC ! And here's why...
by
sheebang
on 28/10/2013, 20:43:02 UTC
you forgot to take into account that a lot of people like to bet on the difficulty rise slowing down a bit.  Difficulty can't rise like this forever, eventually it levels off a bit and those are the miners who will profit nicely

Sorry the slow part is over. Pre-orders are out until march netx year and it would mean that the por guys in production get obsolete. instead together with the pool Operators they will recruit more money as they did in the last two or three years.
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Topic
Board Mining
Re: The biggest difficulty jump I have ever seen
by
sheebang
on 28/10/2013, 20:25:19 UTC
i dont see it is profitable to buy any ASIC miners now, only if u have free power suply

Even if you have free power you may be tempted to do something more profitable with it than mining. Not getting payment for electricity isn't funny.
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Topic
Board Mining (Deutsch)
Re: Profitabilitätsberechnung KNC Saturn/Jupiter
by
sheebang
on 28/10/2013, 20:08:32 UTC

Ist ja cool. Statt Rentabilität und RoI werden wir poetisch. Aber bald ist ja Weihnachten.
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Topic
Board Service Discussion
Re: Blockchain.info 650 Watts per gigahash - reasonable figure?
by
sheebang
on 23/10/2013, 18:29:36 UTC
Blockchain.info has a stat for mining profitability based on electricity consumption of 650 watts per gigahash. This seems like a high figure to me in the age of ASICs. What would be a reasonable figure to use, based on ASIC machines currently in use? (as opposed to vapour-ware promised for next year).
 
I wrote to them complained about it a month ago. No reply. The figure is 6-8 mths out of date. The energy is down to a few percent of that. 650Watt is a GPU rig figure.



The 650 W is not the problem. What strikes me is that they know about the electricity costs of 200,000 miners. :-))))) Should be anything between 0 and 45$c.

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Topic
Board Mining (Deutsch)
Re: 50BTC wird gerade richtig gehackt!!!
by
sheebang
on 22/10/2013, 20:28:24 UTC
26 TH/sek
kann einer dem Pool den gnadenschuss geben?
dann hab ich nur 1x einen tobsuchtsanfall und gut ist

Nein vorher bitte den/die Besitzer entsprechend behandeln. Oder gibt es vielleicht andere Gründe?

wie wäre es mit einem elektrischen viehstupfer?
Ist ein bisschen stärker als ein Taser   Grin

26TV - hört sich gut an. Mir schulden Sie auch noch ein paar Satoshis.
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Topic
Board Mining (Deutsch)
Re: 50BTC wird gerade richtig gehackt!!!
by
sheebang
on 22/10/2013, 19:52:48 UTC
26 TH/sek
kann einer dem Pool den gnadenschuss geben?
dann hab ich nur 1x einen tobsuchtsanfall und gut ist

Nein vorher bitte den/die Besitzer entsprechend behandeln. Oder gibt es vielleicht andere Gründe?

Der Pool wuchs ja nicht so schnell wie die anderen Pools. Die 3% pps waren vielleicht bei der schnell wachsenden hashrate nicht auskömmlich. Bevor es ans eingemachte ging plündert man ja dann die accounts derer, die mehr als ein paar Cent auf dem Konto haben.

Der Hack eines Accounting Servers fällt bei mir unter grob fahrlässig.
Post
Topic
Board Mining (Altcoins)
Re: Swedish ASIC miner company kncminer.com
by
sheebang
on 22/10/2013, 19:43:15 UTC
If the powers that be go to adversely effect BTC, aside from having Washington DC make it outright illegal, they'll target BTC stability, pump and dump punishing investors again.

How can Washington do that? They are closer to being bankrupt than Greece.
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Topic
Board Mining (Deutsch)
Re: Profitabilitätsberechnung KNC Jupiter
by
sheebang
on 16/10/2013, 19:52:30 UTC

Vielen Dank, der Tipp war gut. Ich vergesse mal schnell was ich vor ein paar Minuten geschrieben habe und fange mit den Zahlen aus dem Link an zu rechnen.
Post
Topic
Board Mining (Deutsch)
Re: Profitabilitätsberechnung KNC Jupiter
by
sheebang
on 16/10/2013, 19:38:18 UTC
Nachdem KNC als erster Lieferant tatsächlich ein kleines Wunder vollbracht hat, und im Gegensatz zu allen anderen Anbietern offensichtlich Stückzahlen liefern kann, wird den Kunden sehr schnell der Erfolg des Geräts zum Verhängnis - die Hashleistung steigt noch schneller an als bisher und die 1Mrd Diff ist nicht mehr fern.


Das stimmt.

BFL liefert (immer noch). Avalon?. KNC liefert. Bitfury. Cointerra? Gibt es eigentlich irgendwo so etwas wie eine Aufstellung der pre-orders?

In meiner Vorhersage dürfte die Difficulty von 1 Mrd. um den 01.12. erreicht sein, die Difficulty am ende des Jahres liegt dann bei über 2 Mrd. das ist das Konservative Modell. (30-40%) pro Jump.

Bei 40-50% pro Jump werden dann über 3 Mrd. bis zum Ende Jahres erreicht sein.
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Topic
Board Mining
Re: Who mines for a living?
by
sheebang
on 16/10/2013, 19:27:14 UTC
Is this even viable?

No, not any more and irrespective of your needs.

That is what I wanted to point nou with my post.
Post
Topic
Board Mining (Deutsch)
Re: Profitabilitätsberechnung KNC Jupiter
by
sheebang
on 16/10/2013, 19:20:11 UTC
So, jetzt ist ja bald der 15. Oktober - sind die KNC Day1 fast alle ausgeliefert? Die Hashratenprognose ist dafür erstaunlich niedrig geblieben.


Stimmt Eure Welt heute noch? Die Entwicklung geht dramatisch auf 50% pro Jump zu. Und im Dezember wird es noch krasser. 500 W sind auch nicht von Pappe bei der EEG Umlage.  Grin Grin Grin Grin
Post
Topic
Board Pools
Re: Restrict max hash rate for a pool
by
sheebang
on 10/10/2013, 18:56:56 UTC
This too shall pass.

Just a symptom of the ASIC gold rush. Scared investors trying to ensure profitability are desperate to give themselves "the edge", failing to see that everyone is rapidly choosing to use the same competitive advantage. A significant amount of people are going to end up with an ROI measured in light years, perhaps even the majority. It's a fever, and there is nothing we can do except wait for the temperature to die down.

I completely agree.

I also agree on the difference between an investor and a btc user.

It is every investors own decision. If some think they are better off by putting the btc system at risk, it is the way it is. We will keep on paying taxes for system relevant financial institutions to have fiat money and loose most of the money spent on asics. This for certain will freeze the hype.

I am a miner, not an Investor. So I do not mine on a pool with more than 10% of the total hash rate. Slush czech lottery style, ozcoin, bitminter, bluecoin, bigpit. I also mine solo - Han Solo Lottery Style. I never made it to a block so far, but winning the lottery is the target and would be great.

So mining to me was and is the lottery. Pools were not invented to stop the lottery, but some pools today try to Camouflage the Initial concept. It is unlikely, but what will happen if BTCguilt doesn't win a block for two month?
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Topic
Board Pools
Re: [100 TH] Slush's Pool (mining.bitcoin.cz); TX FEES + UserDiff; ASIC tested
by
sheebang
on 09/10/2013, 10:46:51 UTC
Use Varnish, an HTTP accelerator. I use it on my Drupal sites. Haters can try DDoS all day and it doesn't matter. The webpages are cached and served from RAM, not disk. I forget the insane pages per second it can serve, but it's top notch. For example, Lullabot, a Drupal shop that runs the Grammy.com website for the night of the Grammys, use Varnish on it. It can handle insane traffic.

Thanks for the comments. Solutions so far describe how the pool survives without going down. The solutions offered describe that if the speed of the servers is higher than any load generated from the internet the server will stay in operation. So one target of the DDoS is not achieved, Server remains operable. Nice for the pool.

My problem with the DDoS is that they seemingly generate enough traffic so that my hashes do not get to the pool server properly. This target of the DDoS, or better Traffic Jamming, i. e. no communication with the server - is partially reached. Bad for me.

So I was looking for a solution of getting rid of the traffic jammers without having to go to a private pool. It is possible for the infrastructure providers to significantly throttle and black-list traffic offenders.
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Topic
Board Mining
Re: Bitcoin and the little guy
by
sheebang
on 09/10/2013, 06:10:35 UTC

The only thing that will make bitcoin work is if people start to use it, hoarding just makes it a circle jerk. I'm not sure you understand the mining process, the better hardware is an irrelevance (unless you somehow have exclusive access). What matters is how many btc are available and what difficulty is being generated by everyone else doing exactly the same thing as you are. All this talk of "profit" just sounds wrong headed to me.
[/quote]

I fully agree but I do not see any difference to my point. I am not planning to hoard my bitcoins I am hoarding the ones I mined. There is a factor of 1.000 (europ.) or 1,000 (amer.) between these two things, i.e. I have used 1.000 times more bitcoins than what I have mined. In my everyday use of the bitcoin the actual exchange ratio of the bitcoin is not really important. If I transfer $ or € from A to B I only have to have a reasonable stable exchange rate for the time of use. I would be glad if other miners could say the same. Provided the usage factor mining is a tribute to the system not more.

Please do not get me wrong, the tech quote was made to clearify that I also want to be efficient in mining, what currently may be true only for large scale operations and hopefully becomes true for those who are willing to support the system.
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Topic
Board Mining
Re: Bitcoin and the little guy
by
sheebang
on 08/10/2013, 21:17:10 UTC
If you started mining with ~10 HD5870's in 2011 and kept doing just that and you kept most of the BTC you are perfectly fine to spend your free money on these 60% chance scams.
But for the avarage joe like us we just can't spend 10K on something we don't even know if it wil ever come...
Yea this is basically how I feel. I mined with just a GPU back in the day and after a few weeks finally got 1 BTC, then I sold it when the price skyrocketed to 270 xD

Now I really just want some BTC for the vanity and to play some of those betting games, but don't really want to spend too much money on it as in a few months whatever hardware I buy will be outdated and close to useless

I think it depends on how you look at things. If you want to get bitcoins in an anonymous way you have to mine them. If you do mine in a proper way, and you mine yourself, nobody may ever be able to track you back.

I am using a number of bitcoins for save transactions while one of my kids is abroad. Key advantage is, there are no bank fees (1-3%), there are limited trading fees etc.

People here in the Forum tend to compare the bitcoin price to actual € or $ or Rubels. I think this attitude is wrong. A btc is a btc and all you produced is a certain digit. btc is not subject to inflation. If you mine it you may currently pay 200 € per btc, so it is cheaper to buy them. Does not matter too much if the price jumps to 1.000 € per btc. I wouldn't sell for less, if at all. The price of € 100 may be an indication of miners cashing out though, having produced cheaper. Actually given current felt inflation rates eg in the EU (3,5% to 4,5%) it is no question how much a btc will be in some years. So given some rise also by extended use in some applications, given a reasonable rate of Inflation a bitcoin may be a good Investment and one that cannot be easily taxed, especially if you are average Joe. (Here you may earn a couple of btc free of taxes.)

In the long run btc will only work if the miners make profit and if there are the Joes. So mining is an Option for you and me, but maybe not right now or not by directly cashing out. I am experimenting and being patient. The ASICS can go to lets say 14nm, but somewhere below there may a Limit. I can wait for 14nm USB block eruptor (3,3 GH/s, 1 Watt) buy some of these 2014 /  2015 and and see profit coming in. Bigger guys will have to pay taxes (25-42%) so this is there disadvantage. Havent heard yet that btc are accepted in Monaco,  Bermudas  or in Switzerland.
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Topic
Board Pools
Re: [100 TH] Slush's Pool (mining.bitcoin.cz); TX FEES + UserDiff; ASIC tested
by
sheebang
on 08/10/2013, 20:11:27 UTC
The pool is 7-8% from the network, which is on average 0.45 blocks per hour or 2h 20min per block ... the rest is luck (good or bad)

Well, here comes the luck again. I left the pool at 105% and during the DDoS attacks I mined myself  Cool. I returned at 18:50 today.  Grin

May the luck serve us through a bright future.

Overall, will there be a stable value in not too far future (2015) say at 10 times the diff, so Slush can use an optimistic forecast?

And is there anything like we can do against DDoS, like paying them back with defcoins? Is there anywhere any info about who or what performed the attacks?
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Topic
Board Mining
Re: Who mines for a living?
by
sheebang
on 01/10/2013, 19:47:17 UTC
$10k/month in the US doesn't sound so far from truth.  After health care and taxes (paying both sides), it goes pretty quickly.

This is absolutely true. I have a family with a númber of kids, two in college. I am paying taxes, health-care (25% thanks to Company benefits), VAT. If you have a house, #3 cars (no Porsch or Flying Emily)  you cannot be anywhere below unless you want to be drizzled by liquid sunshine or lodge in Rainier valley.

Actually this was just a reasonable assumption for typical north-western US household (Pacific Coast, I left Walla-walla County). I don't believe that anyone here in my neighbourhood manages below, and this is middle - class, its not Queen Anne, Kensington or Beverly Hills.

So question remains unanswered: What do you call a living?

Also so far the key point in the post is missed. In mining you are always competing with a number of People. To maintain the rquired income a substantial part of the income has to be re-invested. As I said you have to have a certain share of the total hash rate to maintain the income. Now it may be quite easy to deduct 10% of the income and reinvest it into mining.

10% of 10k gives you 1k for Investment, I am not greedy lets make it 2k (So I only earn 8k$ for a living - Farewell Crystal mountain & Acapulco). Now you need 800 ppm of the total Investment not to loose anything:

2,000$ x 1,000,000 / 800 = 2,500,000$.
So thats the monthly Investment to be brought up from the other miners to drive me out of my premises. Given its 100,000 People out there and they buy 3-4 USB miner each month on the average, I can file for bankruptcy soon.
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Topic
Board Mining
Re: Who mines for a living?
by
sheebang
on 30/09/2013, 20:44:02 UTC
just curious, has anyone given up their day job and actually mining as a living ?

Hi,

sorry to ask, but what do you call for a living?

In India - $ 1,000 a month may be a high income.

Here in the US it is more like $ 10,000 per month to make a living, unless you dont have kids that go to Harvard or other Ivy league Schools (you need more bucks than). Also quite a difference whether you are living in downtown NY or somewhere in Kansas.

For a living in the US you will approx. need 800 ppm of the actual hash rate throughout a year ($120 per BTC, 60,000 blocks per year, 40 blocks or 1,000btc earned per year). So after all not more than 1,000 People can live from mining under US Standards and 10,000 acc. to chinese. Given that the three major pools have more than 10,000 miners and that there may be 100,000 miners out there mining Atlantis, nobody seriously can state that he can can make a living from mining.   

At the moment nobody can make a living from mining, or he will spend more then he earns. So consider it a nice hobby.
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Topic
Board Pools
Re: [65000 GH/s] Slush's Pool (mining.bitcoin.cz); TX FEES + UserDiff; ASIC tested
by
sheebang
on 30/09/2013, 16:54:11 UTC
Hmm, I see my rig switched to my backup pool for a few moments. It switched back to Slush, but now my worker diff jumped from 8 to 19. Hopefully it'll settle down soon....

All rigs currently switched to slush as back-up. Slush in Operation. LED fireworks started a minute ago. This has not happened before in 12.000 hours of Operation. Somebody / something is pounding the big pools. With so many People from prc and russia mining it must not be NSA.






























Post
Topic
Board Pools
Re: [65000 GH/s] Slush's Pool (mining.bitcoin.cz); TX FEES + UserDiff; ASIC tested
by
sheebang
on 25/09/2013, 19:54:19 UTC

according to https://bitcointalk.org/index.php?topic=104664.0 this pool does not do DGM, slush said he was going to implement DGM many months ago - but never did

Hello Graet,

thank you for your correction. DGM was the name for slush's payment method that I found in a note to the pool. I always wondered whether this was really true as it didn't match with other statements in the forum.

In the forum notes I found, nobody ever gave a name to the method applied but I think one may call it Raulo's method, exponentially weigthed payout, "slush exponentially scored mining" or the cooperative sharing method. If there is a name to it, I would be glad to know it. Slush exponentially scored, as in your reference, is not too helpful in my opinion.

Udo