Bitcoins!

[R-T-B]

The things people do to mine bitcoins... It must have been a big ass tumble for you to require all that, glad you didn't have to get it amputated though :O

Looking forward to pics of the miner, see if you can get Dragon or something for voice recognition on your pc.

Working on that today or tomorrow. Typing with my left isn't so bad that I'd resort to voice command, but yeah it was a big ass tumble.

After surgery my father informed me the wall I hit isn't just drywall, but backed by about 4 sheets of drywall for some odd reason during numerous remodels. That made it invincible to my puny manflesh and "snap!" was the only thing that could happen really with my level of excitement/acceleration.

But back on topic: This won't be an ROI investment. My hospital bill already tops that, even with insurance... D:

 

[Laurijan]

Wait until the new ASICs come out. They will be far more efficient and powerful, and will make the BTC network diff go up rendering your stuff quite useless.

Is an Antminer S3 440GH/s a new ASIC by your definition?

 

[Peter1986C]

I believe it is. Read reviews yo see whether it is any good.
I did not keep track of that ASIC stuff esp. since most newer coins are all Proof-of-Stake and have only ASIC-incompatible ciphers for their usually less-than-a-month Proof-of-Work phases. And mining BTC itself has gotten way too expensive for me to ever be a realistic thing to do (I cannot afford the huge investments in HW, power etc. to do that). And the BTC value is having difficulties getting above $600 lately.

 

[The Von Matrices]

In case anyone's interested, Newegg is selling Playstation 4 consoles today only for $319.99 (normally $399.99) if you buy using BTC. Use promo code BCPS410. I just bought one for myself, and even if I don't want to keep it I could definitely resell it for a profit.

I'm posting this here instead of the Hot Deals forum because unless you have existing BTC it's hard to take advantage of the deal in such a short time frame.

 

[R-T-B]

Keeping track of ASIC stuff is usually pretty easy. Just check the nanometer process they use, lower=better on almost every occasion.

My zeusminer I bought aparently uses a 55nm process, which is a major bummer in energy efficiency. Glad I live in cheap energy town.

 

[Peter1986C]

Things like whether it is standalone or needs a host and/or paper-clipped PSU matter too. How loud the fans are etc as well. When going to "invest" you want to be getting bang for your bucks.

 

[R-T-B]

Good point.

 

[qu4k3r]

http://www.anandtech.com/show/8566/paypal-announces-bitcoin-support

 

[Nordic]

I never thought that would happen, even when rumours were put out about it.

 

[Easy Rhino]

I never thought that would happen, even when rumours were put out about it.

Me neither. I think that should stabilize the currency a bit.

 

[The Von Matrices]

PayPal's recent announcement is overblown, since they aren't providing anything innovative. All PayPal did is implement the Coinbase/BitPay/GoCoin API, which allows buyers to send BTC to Coinbase/BitPay/GoCoin, is converted by Coinbase/BitPay/GoCoin to USD, and then deposited in the PayPal merchant account as USD. This is no different than any business could have done using the Coinbase/BitPay/GoCoin API directly.

If PayPal was hosting wallets and allowed you to hold BTC balances, that would be a stunning announcement. In contrast, this announcement is just more evidence that PayPal isn't attempting to innovate with Bitcoin but instead is slowly (and seemingly unwillingly) being forced to adopt Bitcoin.

 

[Nordic]

PayPal's recent announcement is overblown, since they aren't providing anything innovative. All PayPal did is implement the Coinbase/BitPay/GoCoin API, which allows buyers to send BTC to Coinbase/BitPay/GoCoin, is converted by Coinbase/BitPay/GoCoin to USD, and then deposited in the PayPal merchant account as USD. This is no different than any business could have done using the Coinbase/BitPay/GoCoin API directly.

If PayPal was hosting wallets and allowed you to hold BTC balances, that would be a stunning announcement. In contrast, this announcement is just more evidence that PayPal isn't attempting to innovate with Bitcoin but instead is slowly (and seemingly unwillingly) being forced to adopt Bitcoin.

Its surprising because paypal was so anti bitcoin. They froze accounts just for buying or selling bitcoins. Its the support that shocks us, not the implementation.

 

[The Von Matrices]

Its surprising because paypal was so anti bitcoin. They froze accounts just for buying or selling bitcoins. Its the support that shocks us, not the implementation.

That's still the case right now; nothing has changed. It's against PayPal's terms to buy any currency (not just BTC) from a seller and use PayPal to send any other currency to the seller in exchange.

Section 3H of PayPal's terms of use:
You may not use the PayPal service for activities that... involve currency exchanges or check cashing businesses.

The only real reversal of policy in the past year is allowing the selling of physical products related to Bitcoin that aren't currency (e.g. mining hardware). Although in all honesty, that policy was more likely due to the uncertainty about the legal status of mining hardware at the time rather than some plan to prevent Bitcoin adoption.

 

[broken pixel]

Used S1 for 90.00 USD each.

http://buyahash.com/shop/antminer-s1-180-ghs-asic-miner/

 

[Peter1986C]

Keep a good look at BitcoinDark and FIBRE coin! The best way to get them might be the xpool.ca multipools (or Bittrex/Cryptsy). They are PoS with high interest and are still improving on their */BTC exchange rates. It may be the best way to ride out the low BTC value storm and perhaps they turn into a worthy successor to BTC one day.

 

[broken pixel]

BTC 284.00 USD.

 

[Peter1986C]

We are climbing out of the depth as it seems: http://www.coindesk.com/price/

Edit: lol BTC is gonna need PoS because the miners will not keep confidence with junk like this. The floor is again having struggles with its identity (it's unsure whether it is truly a floor, or not).

 

[Darkrealms]

Mining is only going up and vendor buy in is still rising. The benefits for vendors of BTC over credit cards is huge (percentages and chargebacks). I don't see BTC going away.

Right now we are dealing with a ton of "investors" and weak hand early adopters getting out. Also the vendors that are accepting BTC are turning around and selling it (technically many of them never touch the BTC). Most mining firms right now are selling as soon as they get BTC as well. That is a lot of downward pressure when mainstream consumers have barely heard of the weird digital currency that seems to be tied to scandals and drugs (per main stream news).

For those looking at BTC hardware http://cryptomining-blog.com/ had an article on current hardware. I am linking the stats they posted. This is only including currently available hardware.

SHA-256D ASIC Miners for Bitcoin:

Rockminer R3 Box – 450 GHS @ 450W – $185 USD
BitMain AntMiner S3+ – 453 GHS @ 355W – $215 USD
Rockminer T1 BOX – 800 GHS @ 1000W – $349 USD
BitCrane T-110 – 1.1 THS @ 1100W – $1299 USD
Spondoolies-Tech SP20 Jackson – 1.7 THS @ 1100W – $1190 USD
BitMain AntMiner S4 – 2 THS @ 2000W – $1250 USD​

Expected daily mined BTC with the current network difficulty:

Rockminer R3 Box – 0.006466 daily, 0.04526 weekly, 0.194 monthly
BitMain AntMiner S3+ – 0.006509 daily, 0.04556 weekly, 0.1953 monthly
Rockminer T1 BOX – 0.01149 daily, 0.08043 weekly, 0.3447 monthly
BitCrane T-110 – 0.0158 daily, 0.1106 weekly, 0.474 monthly
Spondoolies-Tech SP20 Jackson – 0.02443 daily, 0.171 weekly, 0.7329 monthly
BitMain AntMiner S4 – 0.02874 daily, 0.2012 weekly, 0.8623 monthly​

 

[Nordic]

I had to explain the other day that bitcoin is not inherently a drug smuggling operation. The person was presenting that it was in class.

 

[theJesus]

Mining is only going up and vendor buy in is still rising. The benefits for vendors of BTC over credit cards is huge (percentages and chargebacks). I don't see BTC going away.

Right now we are dealing with a ton of "investors" and weak hand early adopters getting out. Also the vendors that are accepting BTC are turning around and selling it (technically many of them never touch the BTC). Most mining firms right now are selling as soon as they get BTC as well. That is a lot of downward pressure when mainstream consumers have barely heard of the weird digital currency that seems to be tied to scandals and drugs (per main stream news).

For those looking at BTC hardware http://cryptomining-blog.com/ had an article on current hardware. I am linking the stats they posted. This is only including currently available hardware.

I envy those of you who either have dirt-cheap electricity or don't pay for electricity. Based on those stats, I'd actually lose money every month running any one of those miners due to the power usage. Granted the value of BTC isn't exactly at it's peak right now . . .

 

[Jetster]

I miss the prices I was getting for AMD graphics cards

 

[The Von Matrices]

I envy those of you who either have dirt-cheap electricity or don't pay for electricity. Based on those stats, I'd actually lose money every month running any one of those miners due to the power usage. Granted the value of BTC isn't exactly at it's peak right now . . .

It's not the electricity cost that matters at the moment; basically everyone buying a miner today won't earn back their investment even with cheap/free electricity. I support Bitcoin but I have no idea why people continue to buy mining equipment at a loss when they could just buy the coins directly. I suppose the only reason that hashrate and network difficulty only keep increasing is because pre-orders for mining equipment were placed 6 months ago. Since most companies selling miners prevent the cancellation of pre-orders, people are forced to receive them and mine back as much value as they can.

 

[heather ables]

i have just gotten a couple of antminer u2 usbs and im having issues with getting them setup on my current account on slushs pool could i possibly get someone to remote in and set this up for me

 

[bogmali]

i have just gotten a couple of antminer u2 usbs and im having issues with getting them setup on my current account on slushs pool could i possibly get someone to remote in and set this up for me

Usually I would close this because it is a 2 year old thread and not active but I will let it be since you are asking for help. May I suggest PMing @R-T-B or @Easy Rhino and see if they can help you

 

[R-T-B]

I'm out of the mining scene for almost 2 years, but thanks for remembering me.