AntMiner S4 2TH s Bitcoin Miner - video dailymotion

1.2Th Bitcoin Miner On SALE and Ships End Of December

1.2Th Bitcoin Miner On SALE and Ships End Of December submitted by AMT_Miners to Bitcoin [link] [comments]

Group Buy - 12 KNCMINER Jupiter's 4.2TH Bitcoin Miners Early Pre Order

This Group buy is for 12 unit of KNCminer Jupiter's made by (https://www.kncminer.com) company located in Stockholm, Sweden. The unit that the shares relate to is the KNC Jupiter @ 350GH/s https://www.kncminer.com/products/jupiter.
We are Offering:
More Details: [email protected]
submitted by dancoin to Bitcoin [link] [comments]

KnCMiner Launches 20nm Neptune ASIC Bitcoin Miner With at Least 2TH of Power

KnCMiner Launches 20nm Neptune ASIC Bitcoin Miner With at Least 2TH of Power submitted by bitkeef to Bitcoin [link] [comments]

what miner: M10 33Th/s innosilicon:T2T 24Th/s; what miner: DCR 44Th/s innosilicon:D9 2.4Th/s Iblink dcr 7.2Th/s /r/Bitcoin

what miner: M10 33Th/s innosilicon:T2T 24Th/s; what miner: DCR 44Th/s innosilicon:D9 2.4Th/s Iblink dcr 7.2Th/s /Bitcoin submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

KnCMiner Launches Neptune ASIC Bitcoin Miner With at Least 2TH of Power

KnCMiner Launches Neptune ASIC Bitcoin Miner With at Least 2TH of Power submitted by Coz131 to BitcoinMining [link] [comments]

Which Bitcoin Miner would you choose Right Now? The Cointerra 2TH solution for $6K or the KNCMiner solution for $14K?

I am trying to decide which one to buy, I can afford one KNCMiner @ 3TH, or one, maybe 2 of the Cointerra 2TH Miner. Which one do you think is a better bet? besides the obvious speed differences, I would sure appreciate the thoughts of some smart Redditors whom are more experienced with ASIC mining then myself. Thanks for the input guys.
submitted by CoinCurious to BitcoinMining [link] [comments]

KnCMiner Announces Neptune ASIC Bitcoin Miner With at Least 2TH of Power

KnCMiner Announces Neptune ASIC Bitcoin Miner With at Least 2TH of Power submitted by Coz131 to BitcoinStocks [link] [comments]

Which Bitcoin Miner would you choose Right Now? The Cointerra 2TH solution for $6K or the KNCMiner solution for $14K?

I am trying to decide which one to buy, I can afford one KNCMiner @ 3TH, or one, maybe 2 of the Cointerra 2TH Miner. Which one do you think is a better bet? besides the obvious speed differences, I would sure appreciate the thoughts of some smart Redditors whom are more experienced with ASIC mining then myself. Thanks for the input guys.
submitted by CoinCurious to AskReddit [link] [comments]

A New Bitcoin ASIC Manufacturer XBTec Announced 2TH/s Miner Pacific 2000 Using AM Chips

A New Bitcoin ASIC Manufacturer XBTec Announced 2TH/s Miner Pacific 2000 Using AM Chips submitted by Betty-Bitell to Bitcoin [link] [comments]

KnCMiner Announces 2TH/s Bitcoin ASIC Miner

KnCMiner Announces 2TH/s Bitcoin ASIC Miner submitted by oeidBIG to Bitcoin [link] [comments]

Current Bitcoin mining difficulty.

Here is a spreadsheet I made for difficulty over the last year (01/16/17 - 01/15/18).
Basically it breaks down to an average difficulty increase of 15.1% per month (181.21% total increase), so make sure you're counting on that average when investing in (Bitcoin) cloud mining. It's also likely to continue to rise over the next year as it must keep pace with the network hashrate.
Google Sheets
submitted by WanderingAnteater to hashflare [link] [comments]

A minimum of 1470 Bitcoins has to be dumped on the market just to cover electricity cost

Unpleasant Truth...
3975 BTC are mined every day 24x60/9.06x25=3974 (24 hours x 60 minutes / ~9.06 average time between blocks x 25 BTC block reward)
Assuming that the mining farms in China are using the most efficient ASIC miner available on the market, that is to say the Antminer S4, it would cost about 37%* of their mined Bitcoins just to cover the electricity cost at a rate of $0.08/kWh which is the average electricity price in China and India.
So everyday, a minimum of 37% of the newly created coins has to be dumped on the market. Which is 1470.75 BTC or 423,576 USD.
In an ideal world where everyone uses the most efficient ASIC miner, lives in China or India, and holds all their mined coins (and only dump as much as they need to cover the electricity), a minimum of $423,576 worth of Bitcoins has to be bought everyday on the market to maintain a stable price (no price drops). Which in fact is more likely to be double $423,576 as miners also want to make a profit (by dumping more of their BTC for $). Also, miners are located all around the world (higher electricity rates) and not everyone uses the most efficient Bitcoin miners (Bitcoin miners have to cover for the hardware cost too!).
* S4 specs are 2TH/s for 1.38kW/h at a rate of $0.08/kWh, BTC price at $288, difficulty at 40,640,955,016.58 and block reward of 25BTC: (1.38*0.08*24)/(86400/(40640955016.58*2^32/(2*10^12))*25*288) ~ 37%
submitted by Thireus to Bitcoin [link] [comments]

My concerns about SmartCash

Hello folks!
I have been doing a lot of reading about the SmartCash cryptocurrency recently. SmartCash claims to be a private cryptocurrency that also focuses on a community-centered model.
However, a lot of what I've found has concerned me.
But first - I'd like to invite anyone with an opposing point of view to share their opinions after reading this. I'm not in this to spread baseless accusations, I just want an educated conversation. Please do not downvote simply because you disagree; instead, read my post, make a comment and discuss the topic with me. I've sent PM's to several people who support SmartCash in order to let them make their opinions clear.
That said, let's go through this point by point - we'll start with the distribution.
From the official SmartCash website:
Traditional cryptocurrencies, like Bitcoin, reward only the miners while neglecting the other actors that play an active role in maintaining, developing and promoting the project. SmartCash is a community-centric cryptocurrency, where community and development comes first. 80% of the block reward has been allocated to fund SmartHive community proposals as well as the Hive Teams. 20% of the remaining block reward has been allocated to Mining (5%) and SmartRewards (15%).
In the name of staying unbiased, I am going to acknowledge my ideological beliefs about mining, as well as my own personal biases as a miner, that miners should receive 100% of the rewards for the work they did. With this out of the way, let's discuss the mathematics of SmartCash's block reward distribution.
80% goes to community projects, 15% goes to SmartRewards (staking equivalent, but not used for consensus), and 5% goes to the miners. In theory, this will lead to 95% less miners than normal, ensuring miners get paid roughly the same. In practice, this won't necessarily be true.
But the existence of fewer miners also presents many issues. There have been several 51% attacks against cryptocurrencies that give all block rewards to miners - Krypton in 2016, Feathercoin in 2013, and Dashcoin (a cryptonote fork DSH, not DASH) by MinerGate in April of 2017.
Chain consensus with SmartCash is determined entirely by proof of work, not proof of stake; therefore you do not need to own any coins in order to attack the network and achieve 51% hashrate.
In the case of a cryptocurrency that gives miners 5% of the block rewards, achieving 51% of nethash is quite easy, because fewer people will be mining. SmartCash's current network hashrate is 10 Th/s or 10 trillion hashes per second; a conservative estimate for a GTX 1080's hashrate is 1 Gh/s or 1 billion hashes per second. Therefore, the network is currently secured by the equivalent of 10,000 GTX 1080 GPUs.
Given that this GPU costs approximately $500, it would take about $5 million to conduct a 51% attack on the network. At nicehash prices of ~0.3 BTC/TH/S/Day, this would cost ~$60,000 per day, taking into account a necessary raise in the offered price to 'persuade' more people to switch to Keccak algo, as only 2TH/s is currently for sale on Nicehash.
Even worse, Keccak (Smartcash’s hashing algorithm) was specifically designed to be ASIC-friendly. From the official Keccak website:
Keccak, the winner of the SHA-3 competition, is blazing fast when implemented on dedicated (ASIC) or programmable (FPGA) hardware.
So if somebody ever modified a Keccak ASIC for mining, it would also be easy to conduct a 51% attack.
Let’s move on. Remember how they said that 80% of the block rewards go to a community fund? That address is here, and it controls 55% of the SmartCash in existence. This address is used to fund proposals that are voted on by the community. The problem is that the private key to this address is owned by the developers - and regardless of their past honesty, this system still requires trust in them. A trust-required system is directly contrary to the principles of cryptocurrency. The developers, despite your trust in them, could still sell some of those coins at any time.
Next up we'll discuss SmartCash's privacy. SmartCash uses the Zerocoin protocol for privacy, as it was forked from Zcoin. Zerocoin breaks the link between sender and receiver, but unlike Zerocash and ringCT, it does not hide the transaction amount. Furthermore, SmartCash's privacy is optional, and it is transparent by default. Transparency by default is bad for the following reasons:
(1) it reduces the anonymity set
(2) it makes private transactions inherently more suspicious
(3) it allows sender to harm the privacy of recipient
(4) it makes it impossible to hide your wealth
(5) it makes the currency non-fungible.
My last concern with SmartCash is the coin distribution. Currently, as shown on the SmartCash Rich List, the top 100 addresses control 98.42% of funds. This is a highly unbalanced situation, and it also means that the vast majority of SmartCash wealth is held by a small number of people. With Bitcoin, the top 100 addresses control roughly 32% of funds, which is not perfect, but certainly much better.
In summary, SmartCash is a great idea - a private, community-oriented cryptocurrency - but it is executed in a suboptimal manner.
I would be happy to hear your opinions on this, whether you agree or disagree.
-KnifeOfPi2
submitted by KnifeOfPi2 to CryptoCurrency [link] [comments]

I am the guy who got the first Cointerra miner AMA.

I will be online for about an hour an a half if anyone wants to chat. Here is their press release:
http://cointerra.com/pr-cointerra-begins-shipment-terraminer-iv-worlds-fastest-bitcoin-mine
Here are some basics.
Fire away!
edit: Stats!
The miners typically run at ~1.7TH/s. I have seen it jump to 2TH/s and have seen it drop to 1.55TH/s but those speeds are not sustained.
There are 2 power supplies. Each pulls 1kW pretty much on the nose. Fans run at full speed all the time right now. I have been told a not-yet-scheduled firmware upgrade will address that as well as other power and speed improvements. I can only go on what I see right now though.
submitted by bitscavenger to Bitcoin [link] [comments]

Blockstream Buys Mining Equipment From Chinese Manufacturer Innosilicon

Blockstream, one of the largest Bitcoin Core funding contributors, has evidently bought a lot of cryptocurrency mining equipment from the Chinese electronics hardware manufacturer Innosilicon. Does this mean that the company is setting up its own mining center?
Also Read: Thomson Reuters Eikon to Display Data on 50 Cryptocurrencies From Cryptocompare

Blockstream Buys Mining Equipment

📷Publicly available international shipping data (a bill of lading) reveals that a large amount of Innosilicon mining rigs has been imported from China to the US by Blockstream, the Bitcoin Core company focused on developing sidechains. Four containers holding 62 pallets marked as “TI” were sent from Hong Kong and arrived on July 26, 2018 at the port of New York/Newark, New Jersey.
“TI” is very likely referring to Terminator by Innosilicon, the ASIC manufacturer’s SHA256 miner whose latest version units are sold for $1118 USD each. And with each pallet possibly holding up to 72 units, this would mean that Blockstream could have bought about 4650 Terminators for a total value of almost $5.2 million. The company has not announced it is opening a new mining center as of yet, but such a large order would definitely suggest that is an imminent possibility. The typical hash rate of a Terminator unit reaches 17.2TH/s, giving such a center almost 80PH/s.

Background Information

📷Blockstream was co-founded by Adam Back, Gregory Maxwell, Pieter Wuille and others back in 2014, and is still headed by Adam Back, the CEO. It is now mainly known for developing implementation prototypes for the lightning network. If you are not familiar with the company and want to get more background information about it, David Shares recently published an Op-Ed about why is Blockstream working with former spies.
Innosilicon is a design company offering low cost, high-performance, cross-foundry, fully customizable solutions. It produces devices in areas such as tablets, cell phones, TVs, cameras, networking equipment and more. When Halong Mining launched its Dragonmint rigs earlier this year there were speculations that the machines were just rebranded Innosilicon Terminators.
submitted by MONEY-MONSTER to u/MONEY-MONSTER [link] [comments]

Why you shouldn't buy Hashfasts new "up to 800GH/s" "product"

gmaxell, moderator of the customhardware subforum on bitcointalk.org made an accusation against hashfast so damning that they deleted his text from their forum thread (in the subforum gmaxwell moderates...).
Here are gmaxwells words in full:
Just in case people are forgetting.
Hashfast is a bunch of thieves. I do not say this lightly: They have literally taken my coin, violated their contract, and provided me with nothing in return. I paid them 98 BTC for hardware "scheduled" to be delivered in October. It's March 2nd now have received nothing and they have not responded to any of my past private efforts to resolve the matter— now spanning months. (Copies of communications and certified letter tracking numbers available on request).
I am not some competitor or troll: I'm a moderator of this sub-forum and a developer of the Bitcoin reference software. I have no financial interest or otherwise in any other mining hardware company. I mine personally to support the Bitcoin network. I've made a genuine effort to resolve this matter from hashfast, but it seems instead that they plan on taking my funds and running. I sometimes feel bad that I probably do get "more fair" treatment than others with a lower profile in the community, but if they're willing to do this to me then what are they willing to do to you?
Business screwups and delays happen, but in my opinion Hashfast has gone far beyond those boundaries and into the space of outright theft. Every additional sale hashfast makes while screwing over me and other miners in this manner damages the Bitcoin ecosystem and discourages me— and presumably other small miners— from participating. I've taken what I feel to be a fairly soft hand in this so far, in the hopes that they'd make things right after they cleared up some of their startup hurdles— but with new products being promoted, it seems that isn't their plan.
I urge everyone to provide HashFast with no further business until they make right by their past customers.
If you're looking for hardware and haven't been (rightfully) scared off by the astronomic prices being charged by current hardware vendors— I can personally vouch for Bitmain's Antminer S1s (*), which are delivered promptly, with absolutely no pre-order nonsense, and perform precisely as specified. Cointerra products also appear to be competently handled (though current units only deliver ~1.6TH/s against their original 2TH/s spec, and at least my unit has some hashrate stability problems when run at full speed), and they've treated their customers with reasonable respect (e.g. compensating customers for delays above and beyond the contract).
(*) Disclosure, fwiw: Last year Bitmain sent me a prototype 90GH/s antminer for testing/development prior to their public shipping. I subsequently bought a couple others as a normal customer and have been pretty happy with them as have virtually all of their other customers. Rather than seeing this as a source of potential bias here I'd point out that any well run mining hardware company would get pre-production units out to developers in order to avoid the early product missteps that other companies like HashFast have had.
https://bitcointalk.org/index.php?topic=497737.msg5475462#msg5475462
Please comment on the situation below and do not endorse hashfast.
submitted by HighBeamHater to BitcoinMining [link] [comments]

[GUIDE] How you can help decentralize the network using p2pool and rented hashing power.

Hey guys,
After seeing this ghash.io 51% drama play out for the second time I've decided to start contributing to the network using P2pool. I don't own any SHA256 mining hardware aside from a 330mh block erupter, so I started looking around for hashpower for rent that wouldn't cost me too much. I settled on using Betarigs and Nicehash, services that I already use to lease X13 hashpower on my GPU rigs. I found cheap hashing power on these services that would put me close to breaking even. So far the costs have been very small and I have put an average of 2TH on a local p2pool node. It's not much but every GH counts!
I've made instructions for renting on both websites. Be warned that P2Pool has a high variance due to their low hashrate, so ideally you would want to mine for a sustained period with a lower hashrate to balance it out.
The NiceHash method:
You will need:
  1. Create an account at NiceHash.com and add 0.01BTC on the deposit page.
  2. go to http://www.bitcoinx.com/profit/ and work out the amount of coins you will earn per terahash (0.0428 at the time of writing) This is the target price for your order. (please note that orders at a higher price take priority so matching the highest order guarantees that you will get your hashrate but is more expensive)
  3. Click the orders tab at the top of the page and create an order. Select SHA256 from the algorithm dropdown menu. The price per terahash should be slightly higher than the estimate you found on BitcoinX. Check which orders are going through on the front page and try to match that price. Limit the amount of mining power to 1 terahash per second to ensure your miner is going for as long as possible (this means there is less potential for variance).
  4. Find a p2pool node that is close to you. You can use http://p2pool-nodes.info/ for this. Find a node that is close to you and click on the url. Check the efficiency is around 100%. If it isn't, go back and find another node. If the node does fit the criteria you can proceed to the next step.
  5. Put the node URL (minus the http:// and port) into the pool address box on Nicehash. The port (usually 9332) should be put in the port box to the right.
  6. Put your BTC address in the user field and x in the password field. Double check to verify everything is correct and place the order.
You should soon see the hashrate of the p2pool node you are connected to go up and your address show up in the stats field. If this doesn't happen within 20 minutes, either edit your order to have a higher price per TH or wait for the higher priced orders to finish.
The Betarigs method
This method is cheaper than using Nicehash as you are renting hardware rather than raw hashrate, which you pay a 'convenience fee' for. This is not as straightforward but will cost you less and give you more choice of the rig you want to rent.
You will need:
  • Some Bitcoin
  • A P2Pool node to connect to (You can use http://p2pool-nodes.info/)
  • A Betarigs.com account (Sign up on their site for free)
  1. Sign up for a Betarigs account using the register link in the top right of the page and follow the steps to sign up.
  2. At the top left of the page, go to rent a rig and select SHA-256.
  3. Turn on results for all of the available rig sizes and hit search. You will see a list of rigs and their price per day, hashrate and price per TH on the right. The rigs displayed first are the cheapest per TH, placing them closer to breaking even with mining profit (while helping the network. Sweet!)
  4. Find a rig with a low price per TH that is within your price range. You can pick up an Antminer S1 for around 0.008 per 24h, often cheaper. When you've found a rig you would like to rent, click the green 'Rent Rig!' button to the right of the result.
  5. Double check that the information is correct and confirm that you would like to rent the rig. You will be taken to a page with fields for your pool, user and password.
  6. Find a p2pool node that is close to you. You can use http://p2pool-nodes.info/ for this. Find a node that is close to you and click on the url. Check the node's efficiency is close to or above 100%. If it isn't, go back and find another node. If the node does fit the criteria you can proceed to the next step.
  7. Put the node URL (minus the http://) into the pool address box on Nicehash. The port should go on the end of the url in this format - url:port
  8. Put your BTC address in the user field and x in the password field. Double check to verify everything is correct and click 'update the target mining pool'.
  9. Send the exact amount of BTC specified by Betarigs to the address displayed at the top of the control panel. After one confirmation, the rig will start to mine and you will be able to check your status on the p2pool node page soon!
I have around 1.5 TH (!1.2TH from NiceHash, ~300GH from Betarigs) pointed at a local p2pool node, 2-400gh of which should last for 3 days to 1 week. I decided to do this to decentralize the network rather than for profit although I do seem to be breaking even so far. P2Pool varies wildly so a lot of it is down to luck. I may add a picture tutorial if this picks up enough interest, as I aim to make this guide as noob friendly as possible. Please reply with any additions and I will add them to the OP.
Thanks for reading and keep hashing! :)
submitted by ch33s3mast3r to Bitcoin [link] [comments]

[uncensored-r/CryptoCurrency] My concerns about SmartCash

The following post by KnifeOfPi2 is being replicated because some comments within the post(but not the post itself) have been openly removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ CryptoCurrency/comments/7oh2uz
The original post's content was as follows:
Hello folks!
I have been doing a lot of reading about the SmartCash cryptocurrency recently. SmartCash claims to be a private cryptocurrency that also focuses on a community-centered model.
However, a lot of what I've found has concerned me.
But first - I'd like to invite anyone with an opposing point of view to share their opinions after reading this. I'm not in this to spread baseless accusations, I just want an educated conversation. Please do not downvote simply because you disagree; instead, read my post, make a comment and discuss the topic with me. I've sent PM's to several people who support SmartCash in order to let them make their opinions clear.
That said, let's go through this point by point - we'll start with the distribution.
From the official SmartCash website:
Traditional cryptocurrencies, like Bitcoin, reward only the miners while neglecting the other actors that play an active role in maintaining, developing and promoting the project. SmartCash is a community-centric cryptocurrency, where community and development comes first. 80% of the block reward has been allocated to fund SmartHive community proposals as well as the Hive Teams. 20% of the remaining block reward has been allocated to Mining (5%) and SmartRewards (15%).
In the name of staying unbiased, I am going to acknowledge my ideological beliefs about mining, as well as my own personal biases as a miner, that miners should receive 100% of the rewards for the work they did. With this out of the way, let's discuss the mathematics of SmartCash's block reward distribution.
80% goes to community projects, 15% goes to SmartRewards (staking equivalent, but not used for consensus), and 5% goes to the miners. In theory, this will lead to 95% less miners than normal, ensuring miners get paid roughly the same. In practice, this won't necessarily be true.
But the existence of fewer miners also presents many issues. There have been several 51% attacks against cryptocurrencies that give all block rewards to miners - Krypton in 2016, Feathercoin in 2013, and Dashcoin (a cryptonote fork DSH, not DASH) by MinerGate in April of 2017.
Chain consensus with SmartCash is determined entirely by proof of work, not proof of stake; therefore you do not need to own any coins in order to attack the network and achieve 51% hashrate.
In the case of a cryptocurrency that gives miners 5% of the block rewards, achieving 51% of nethash is quite easy, because fewer people will be mining. SmartCash's current network hashrate is 10 Th/s or 10 trillion hashes per second; a conservative estimate for a GTX 1080's hashrate is 1 Gh/s or 1 billion hashes per second. Therefore, the network is currently secured by the equivalent of 10,000 GTX 1080 GPUs.
Given that this GPU costs approximately $500, it would take about $5 million to conduct a 51% attack on the network. At nicehash prices of ~0.3 BTC/TH/S/Day, this would cost ~$60,000 per day, taking into account a necessary raise in the offered price to 'persuade' more people to switch to Keccak algo, as only 2TH/s is currently for sale on Nicehash.
Even worse, Keccak (Smartcash’s hashing algorithm) was specifically designed to be ASIC-friendly. From the official Keccak website:
Keccak, the winner of the SHA-3 competition, is blazing fast when implemented on dedicated (ASIC) or programmable (FPGA) hardware.
So if somebody ever modified a Keccak ASIC for mining, it would also be easy to conduct a 51% attack.
Let’s move on. Remember how they said that 80% of the block rewards go to a community fund? That address is here, and it controls 55% of the SmartCash in existence. This address is used to fund proposals that are voted on by the community. The problem is that the private key to this address is owned by the developers - and regardless of their past honesty, this system still requires trust in them. A trust-required system is directly contrary to the principles of cryptocurrency. The developers, despite your trust in them, could still sell some of those coins at any time.
Next up we'll discuss SmartCash's privacy. SmartCash uses the Zerocoin protocol for privacy, as it was forked from Zcoin. Zerocoin breaks the link between sender and receiver, but unlike Zerocash and ringCT, it does not hide the transaction amount. Furthermore, SmartCash's privacy is optional, and it is transparent by default. Transparency by default is bad for the following reasons:
(1) it reduces the anonymity set
(2) it makes private transactions inherently more suspicious
(3) it allows sender to harm the privacy of recipient
(4) it makes it impossible to hide your wealth
(5) it makes the currency non-fungible.
My last concern with SmartCash is the coin distribution. Currently, as shown on the SmartCash Rich List, the top 100 addresses control 98.42% of funds. This is a highly unbalanced situation, and it also means that the vast majority of SmartCash wealth is held by a small number of people. With Bitcoin, the top 100 addresses control roughly 32% of funds, which is not perfect, but certainly much better.
In summary, SmartCash is a great idea - a private, community-oriented cryptocurrency - but it is executed in a suboptimal manner.
I would be happy to hear your opinions on this, whether you agree or disagree.
-KnifeOfPi2
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

Mining still worth it (profitability wise)?

Hello miners.
I am about to make a huge investment (about $6000 for a 2TH/s machine, according to calculations the return on investment should be met in 15 days). However I have several questions pertaining to mining. I know the bitcoin value is volatile, however hashing difficulty is increasing (1.18 billion right now). Seeing that it will just keep increasing until it is nearly impossible to mine bitcoins, is it still worth it? (considering that we are at the exponential increase right now).
And if it is still worth it, why do I see so many mining contracts (wouldn't these people find it more profitable to mine for themselves?).
I know that the machine I buy won't be completely obsolete if ever bitcoin values plummet, as there will always be some other cryptocurrencies, but still - profitable or not?
submitted by Ap0Th3 to BitcoinMining [link] [comments]

I have a few grand to invest in mining. Any advice would be extremely helpful.

I have been GPU mining Scrypt coins for a little bit now, and I'd like to take this to a level beyond just a hobby. I know SHA-256 coins are to a point where one would typically need a very high hash rate ASIC rig. I also know ASIC miners are on the horizon for Scrypt. Granted, any of the options I would want are only on pre-order right now. But I would like to know which direction I should go. Do you folks think I would be better off getting something along the lines of the CoinTerra 2TH/s SHA-256 miner, or the Alpha Technology 25MH/s Scrypt miner? (This is assuming Alpha Technology isn't a scam like some are speculating) I see it this way. SHA-256 based currencies have already been subject to high hash rate mining for a while now, and the difficulties for things like Bitcoin are already sky high. So is the exchange rate on some of them. Scrypt based currency is still less popular, less mined, and have a much lower exchange rate. Yet, some have the potential to grow, once more are mined with higher hash rates of ASIC chips, causing them to also become more popular. Getting in on what I would consider close to the ground floor seems like it may have more benefits than joining in on an already moving train like Bitcoin.
Any thoughts and opinions will be greatly appreciated. Thank you all in advance!
Edit: Typos
submitted by TryppZ to CryptoCurrency [link] [comments]

Attention to All Inquiring New Cointerra Customers

I would like to point out a few things to any customers that are considering ordering from cointerra, especially since they are taking pre-orders for a MAY 2014 batch now, and have not even began shipping for their December 2013 batches. I would first like to disclose that i am indeed a waiting customer for an early January order for multiple asics.
-The last testing for cointerra machines were only about 1.5 TH/s, they currently advertise for 2TH/s machines. There has not been any more updates to this particular point since their last blog update about performance about two weeks ago.
-One may rightly question if Cointerra has mislead their customers by giving shipping dates that they knew they were not going to hit like other companies, Re: Hashfast and Butterfly labs, in order to take early pre orders to fund their operation. As everyone knows mining is time dependent and all calculations on risk to order from an asic manufacturer must be estimated based on future difficulty predictions, therefore shipping dates and performance are the main points that one must base their pre-payment decision from. They also marketed on the fact that they were better than the other asic manufactures and made it a point that they were going to ship on time.
-There is no real shipping estimates right now, basically they don't know when theyre going to ship. In early January they began contacting December 2013 batch customers telling them shipping would commence in less than two weeks. That did not happen.
Now I'm not sure how the profitability will play out for the May batches you may well be ROI but its not likely December batches will, and its looking bad for January as well, i would say do your research and expect a late underperforming product for your calculations. Also as an early customer I began to have second thoughts on getting this order and asked for a refund(payment in bitcoin) in September, at the time bitcoin did not make an almost ten fold move in price and I was pretty much begged to stay on as a customer and given perks. That has all changed now of course, now they would love to drop all of the early customers who took the most risk and now almost immediately ask if i want a refund when voicing concern over the late and what seems to be an underperforming product. Of course a refund is out of the question for now we will see how this plays out.
A few 'positive' points about Cointerra is that they are definitely not trying to run with our money, they are communicating their problems with us, although the updates have been vague and leave a lot to be answered. Also they seem professional I just vented for about a half hour to one of their sales associates and he took it quite well and answered my questions honestly from what i could tell.
I believe that until cointerra ships out any more products it is completely unethical to take more pre orders. They need to satisfy the customers that took the most risk on them and focus on delivering to them first. But hey, ethics and miner manufacturing seem to be mutually exclusive, so who knows.
From the experience from a current customer May is a long ways out make sure you do your research before buying asics.
submitted by wtfcointerra to Bitcoin [link] [comments]

Advice on CoinTerra and the 2TH miner

Hi, I'm fairly new to the subreddit but have been keeping a close eye on bitcoin for a while now. I was wondering if anyone had any opinions on CoinTerra and whether they are trust worthy etc.. I stuck it out with butterfly labs for a 60gh miner but that took 9months to arrive. I'm not too worried about the time but more so about actually receiving the product and also making sure it's the right purchase for that amount of money.
I'm thinking of making an investment in the new terra miner.
http://cointerra.com/product/terraminer-iv-2ths-networked-miner-january-batch/
Any alternatives or opinions are much appreciated.
Thanks
submitted by DeliveryNinja to Bitcoin [link] [comments]

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Bitcoin Mining. Dragon Bitcoin Miner . 1TH/s ASIC miner

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