Hello!
-
@moorsc0de I guess it would be safe to continue trading until March next year.
-
@bugger If the coin makes it that long.. sure.
-
So, blockchains use difficulty to ensure (by mathmatics) that blocks are found, on average, over a consistent time period.
If miners start to leave, there won't be a crash.Difficulty will go down, and the remaining miners simply get a larger slice of each block.
GPU mining does absolutely nothing to speed up transactions or generate more Sia for the network to use.
Rememeber, Sia used to be mined by CPUs.
I can see moors once again spreading fud and doom, rather than supporting the project with constructive criticism.
Simple math is used to find out the block reward that sia will have next year. SC value is COMPLETELY independent from the SC blockchain and it's mechanics. It doesn't matter if sia is worth 1 USD or 1 Billion USD, the amount of sia for the block reward does not change from it's current math.
-
@moorsc0de said in Hello!:
@bugger Everything I have seen on earnings from these ASICS is an assumption.. and a very high and lofty one at that. SC value has already reach levels where it could be yanked from exchanges due to lack of interest.
@bugger I believe that xurious has already addressed the second part of moorsc0de's sentence, but I'll do my best to address the first.
While it is true that the current figures regarding how much an Obelisk will mine and how much power it will consume aren't final, they are much more than just "assumptions". Obelisk has partnered with GlobalFoundries to design and manufacture the Obelisk's. GlobalFoundries is a company of 18,000 staff with 8 years of experience. They hardly "assume" what the potential figures are going to be. In other words, treat the estimates as an "educated estimate" rather than just an "assumption". There is a world of difference.
Moreover, the team has stated that each of their estimates is conservative. You can expect better real world performance when we see the Obelisk's next year.
-
@beardo a good read for you.. some "other" perspectives. You seem too focused on just mine.
Is it just me or is the potential ROI on Obelisk too good to be true?
https://www.reddit.com/r/siatrader/comments/6lb10e/is_it_just_me_or_is_the_potential_roi_on_obelisk/
-
I’m a miner and relatively new, I have a 1200M/hs rig and an 18Gh/s rig with 36Gh/s coming online next week, with my first two rigs I was mining sia even though the profit per day was way below other coins because I like sia and the community but I’m switching now for two reasons, firstly the difficulty goes up twice a week, 2 weeks ago my big rig was doing 1800 coins a day now it’s down to 1300. At the current price im only just breaking even on electric never mind paying the rig off. The second is price obviously; I can make $20 a day or nothing but break even. It’s a no brainer.
I did consider buying an acis miner but not until they come out and are in stock. But sia won’t let you pay with sia, they say this is to stop dumping the price of the coin as $5 million worth of coins dumped on the market, out of 300,000,000 lol I’m sure that would cause chaos. But what’s going to happen in a year when 2000 miners are [email protected]$5000000 a month on the market every month. Im a business man so ill consider my options closer to the time and if it makes sense I may get back in, same if we get a price rise over the next few months but with difficulty I can’t see me coming back under 0.03p(im English) @$0.04 but that would give a market cap of around a billion ;-O
-
@chrisscott666 said in Hello!:
@$5000000 a month
increased hashing power doesn't increase coin creation. The rate is still steady. Diff goes up, so blocks are found (on average) every 10 minutes or so. Even the networking has power is 10PetaHash, the diff just increases to match it.
I can make $20 a day or nothing but break even. It’s a no brainer.
No worries! Don't mine sia!
profit per day was way below other coins because I like sia and the community but I’m switching now for two reasons
If you want to support sia, then mine something else, and buy sia. This takes money invested into other coins (whatever you are mining) and moves into Sia, helping stabilize the value.
However it looks, as you are only worried about profit, that you are more interested in profit rather than supporting the Sia. That's not a bad thing, as you put it, are a business man.
-
@$5000000 a month
increased hashing power doesn't increase coin creation. The rate is still steady. Diff goes up, so blocks are found (on average) every 10 minutes or so. Even the networking has power is 10PetaHash, the diff just increases to match it.
what i mean is all the people buying the miners will be selling there coins each month (not all but most) as they will want to return there investment asap then mine for just the electric, so certainly the first month then probbaly fewer the next. so the same as doing that now by taking sia as payment and converting to bitcoin.
of course ill be using some of my gains to buy sia thats the idea ;o)
-
Nah, not all. Some buy the ASIC as an investment. I mine just to hold and use in the network.
No smart investor of ASIC will just instantly dump their coins to lower the market.
Plus this is a year away, Sia will be more widely adopted by then.
