Swedish ASIC miner company kncminer.com

[Tehfiend]

Today marks the beginning of my positive ROI after I sold the proceed of 29 days of mining (59 BTC with 2 Jup). My wife cannot complain anymore about that investment she does not really trust or understand.

You might have broken even in $ terms, but that misses the point of the machines, and is the fallacy that keeps people buying all these ASIC machines (and stops wives complaining )

You paid around 120BTC until it gives you that many back it's not a good investement

If you insist on thinking in $, if you hadn't bought the machines you'd now have $14,000.

There is no fallacy,

If you made a profit you made a profit. There might have been better ways of doing it but you are also missing the point.

If you sell too early then you minimized your profit, you are assuming everyone would hold until this exact date. Many would have sold before.

Also there were definitely better opportunities all over the world making more profit than buying and holding BTC but you don't mention those.

At the end of the day, Getting more than you put in is a success and congrats to everyone that has so far.

The point so many people are missing is that his profit came from the rising exchange rate, not from his investment in his Jupiter. People REALLY need to think in terms of BTC first when investing in miners and secondary the exchange rate since mining is also investing in BTC over a period of time. The goal of any miner should be to mine more BTC than they could buy at the time of purchase. Until people realize this miners will be overpriced.

[Altomesi]

Sold 10 BTC this morning on Coinbase at $248USD but then tried to sell some more this afternoon and Coinbase has shutdown it's sells of BTC! WTH! Just an FYI for everyone....

Quote From CoinBase when trying to sell BTC:
"Sorry, the maximum number of sells on Coinbase has been reached for today. Please try again in 24 hours. We'll continue raising this limit over time."

[Bargraphics]

Today marks the beginning of my positive ROI after I sold the proceed of 29 days of mining (59 BTC with 2 Jup). My wife cannot complain anymore about that investment she does not really trust or understand.

You might have broken even in $ terms, but that misses the point of the machines, and is the fallacy that keeps people buying all these ASIC machines (and stops wives complaining )

You paid around 120BTC until it gives you that many back it's not a good investement

If you insist on thinking in $, if you hadn't bought the machines you'd now have $14,000.

There is no fallacy,

If you made a profit you made a profit. There might have been better ways of doing it but you are also missing the point.

If you sell too early then you minimized your profit, you are assuming everyone would hold until this exact date. Many would have sold before.

Also there were definitely better opportunities all over the world making more profit than buying and holding BTC but you don't mention those.

At the end of the day, Getting more than you put in is a success and congrats to everyone that has so far.

The point so many people are missing is that his profit came from the rising exchange rate, not from his investment in his Jupiter. People REALLY need to think in terms of BTC first when investing in miners and secondary the exchange rate since mining is also investing in BTC over a period of time. The goal of any miner should be to mine more BTC than they could buy at the time of purchase. Until people realize this miners will be overpriced.

There is no point that is missing,

Everyone already knows this, you can echo it from the ends of the earth but it is widely known that there might have been more lucrative opportunities out there. Not sure why you didn't buy Google stock when it was low and sell at it's peak.

Hindsight is always 20/20 and most of the people in here are hindsight investors but never take their own advice.

Profit (No matter how it was obtained) is profit.
If you had $5 before you purchased your Jupiter and now you have $10 and a Jupiter, you did well even if you COULDA WOULDA SHOULDA had $20.

[WastedLTC]

So far I've found 4 blocks... =)   Not too bad.   3 of them in a single day, then 1 yesterday.

[Tehfiend]

Today marks the beginning of my positive ROI after I sold the proceed of 29 days of mining (59 BTC with 2 Jup). My wife cannot complain anymore about that investment she does not really trust or understand.

You might have broken even in $ terms, but that misses the point of the machines, and is the fallacy that keeps people buying all these ASIC machines (and stops wives complaining )

You paid around 120BTC until it gives you that many back it's not a good investement

If you insist on thinking in $, if you hadn't bought the machines you'd now have $14,000.

There is no fallacy,

If you made a profit you made a profit. There might have been better ways of doing it but you are also missing the point.

If you sell too early then you minimized your profit, you are assuming everyone would hold until this exact date. Many would have sold before.

Also there were definitely better opportunities all over the world making more profit than buying and holding BTC but you don't mention those.

At the end of the day, Getting more than you put in is a success and congrats to everyone that has so far.

The point so many people are missing is that his profit came from the rising exchange rate, not from his investment in his Jupiter. People REALLY need to think in terms of BTC first when investing in miners and secondary the exchange rate since mining is also investing in BTC over a period of time. The goal of any miner should be to mine more BTC than they could buy at the time of purchase. Until people realize this miners will be overpriced.

There is no point that is missing,

Everyone already knows this, you can echo it from the ends of the earth but it is widely known that there might have been more lucrative opportunities out there. Not sure why you didn't buy Google stock when it was low and sell at it's peak.

Hindsight is always 20/20 and most of the people in here are hindsight investors but never take their own advice.

Profit (No matter how it was obtained) is profit.
If you had $5 before you purchased your Jupiter and now you have $10 and a Jupiter, you did well even if you COULDA WOULDA SHOULDA had $20.

So then you agree he should be glad the exchange rate increased, not that he bought a Jupiter?

[Crypto_Cumbrian]

Congrats to the guy who mined 59 bitcoins with two Jupiters.

How many bitcoins have fellow miners pulled in, cause even for a Day 1 59 for two Jupiters seems high.

I have 12 got my miner 16th octorber, but had trouble with cards early on , even with the problems I think I am only 5 short in top of my 12.

[Tehfiend]

Another note
BAD RESULTS with 0.98.1 production...
Big "Dwindledown" this time...

going back to beta....

after how many hours you notice the performance drop?

I waited overnight... the 3 sats lost over 60Gh/s overnight....
The moment I re-loaded beta... back to the sky...

Was there a change from the beta to the release? I'm still on beta which has been rock solid at 550+ GH/s with no dwindledown...

[WastedLTC]

So then you agree he should be glad the exchange rate increased, not that he bought a Jupiter?

first, OFCOURSE the exchange rate plays a huge part but that is just one of the moving pieces. purchased equipment, mined btc, sold btc, paid off all equipment and now can continue mining for profit.  sounds perfect.   could have bet his cash at a casino and have more or less money today.    the point is, equipment is paid off and now climbing into the profits!  

[jelin1984]

Which pool or solo mining for found these blocks ??

[Bargraphics]

So then you agree he should be glad the exchange rate increased, not that he bought a Jupiter?

No, I agree that his decision to buy a Jupiter resulted in a positive return for him regardless of circumstances. You do understand we've only been mining for a month maximum for some of us. It's going to be damn close to BTC break even by the end of 6 months of hosting. By then I'll have around the same BTC that I would have had purchasing them AND a piece of history (The Jupiters). They may even still be profitable then and continue mining

[Phoenix1969]

I didn't have high hopes for 0.98.1, I was right : eligius graph
Back to 0.97.


All the firmware's were run at least 24 hours without any reboot.
For that reason firmware 0.90 to 0.93 aren't listed.

--------------------	0.94	0.95	0.96	0.97	0.98	0.98.1
Average CGminer	270Gh/s	274Gh/s	280Gh/s	284Gh/s	278Gh/s	277Gh/s
Average Pool	275Gh/s	263Gh/s	278Gh/s	283Gh/s	269Gh/s	272Gh/s
Consumption	485 Watts	305 Watts	313 Watts	313 Watts	348 Watts	348 Watts
Temputure	54 & 62°C	42 & 47°C	42 & 47°C	40 & 44°C	44 & 50°C	41 & 48°C
Rejected	1.5%	0.22%	0.38%	0.48%	0.61%	0.66%
HW	2.81%	0.79%	1.08%	1.47%	3.31%	3.68%
WU	3975/m	3717/m	3933/m	4021/m	3825/m	3797/m

0.94	0.95	0.96	0.97	0.98	0.98.1

interesting, did you try the 0.98.1 beta by any chance?
My results seem best with it, over the production 0.98.1, or any other.....
just asking...

[Biffa]

Of course its about the $ value

How would you feel about ROI on miner hardware if the reverse was true?

If you had paid 100 BTC for a miner when BTC was worth $100

You mined 101 BTC but BTC value dropped to $50

Would you say you have made a ROI? I'd say not.

Some people don't find trading BTC a satisfying vocation or even pasttime. Some people like to mine.

As far as hobbies go if my Jupiter makes as much as it cost me in $ and then some then I am happy enough and fuck what the wife thinks, at least I'm not pissing it away in the pub

People should have more respect for miners, for without them ROI or not there would be no BTC in the first place for people to trade. Let us have our fun without rubbing our noses in it.

[WastedLTC]

Which pool or solo mining for found these blocks ??

The 4 I mentioned were on Eligius..  (http://eligius.st/~wizkid057/newstats/blocks.php).

[Syke]

Of course its about the $ value

How would you feel about ROI on miner hardware if the reverse was true?

If you had paid 100 BTC for a miner when BTC was worth $100

You mined 101 BTC but BTC value dropped to $50

Would you say you have made a ROI?

Yes! More BTC than you started with is a profit. Less BTC than you started with is a loss.

[plasmoske]

Used to be about 540-560GH/s on my hosted Jup. Now after the latest update, seems to now dropped to 490-500GH/s.

Kinda shitty. Needs for a way to opt in or out of firmware updates. They just seem to mass apply it to all hosted miners.

Agreed. On a side note, KNC Pool speed is currently 2.8TH/s.

They moved over to Eligius with about 33TH/s of hashing power. Seems like their pool wasn't good enough. Software suck and not enough hashing power.

And yes that 0.98.1 has dwindling down problems... big time. It'll start off at max and after 12 hours or so, you'll lose like 80-100GH/s.
I've emailed knc support but not sure if they'll reply back or even help downgrade my miner back to .98

[AFox]

interesting, did you try the 0.98.1 beta by any chance?
My results seem best with it, over the production 0.98.1, or any other.....
just asking...

I only tried with the official 0.98.1 not with the beta.
I don't really want to try it.

[ASIC-K]

interesting, did you try the 0.98.1 beta by any chance?
My results seem best with it, over the production 0.98.1, or any other.....
just asking...

I only tried with the official 0.98.1 not with the beta.
I don't really want to try it.

i can also confirm the beta is WAY better. i am not changing from it, my mercury is running at max

[Tehfiend]

So then you agree he should be glad the exchange rate increased, not that he bought a Jupiter?

first, OFCOURSE the exchange rate plays a huge part but that is just one of the moving pieces. purchased equipment, mined btc, sold btc, paid off all equipment and now can continue mining for profit.  sounds perfect.   could have bet his cash at a casino and have more or less money today.    the point is, equipment is paid off and now climbing into the profits!  

Yes when you buy a miner you are also investing in an predicted amount of BTC over a period of time instead of an exact amount you could invest in directly and sell at any point. Two different kinds of investment to choose from. So when measuring the success of an investment in a Jupiter you have two factors to consider. If you made less BTC than you could have purchased, then the miner was a poor investment. If you made more fiat than you spent on the miner then you made a good investment in BTC. People have a hard time accepting when they made a bad investment and choose to ignore the first and focus on the second. Yes we should be happy we made a fiat profit but don't fool yourself that it was because you invested in a Jupiter.

The same would be true with the opposite. If the exchange rate crashed but you made more BTC then the miner investment was good but the BTC investment was bad. People can gauge their success however they want but it is smart to be realistic and learn from the true cause and effect of your losses and gains.

[huadylmate]

If you had paid 100 BTC for a miner when BTC was worth $100

You mined 101 BTC but BTC value dropped to $50

Would you say you have made a ROI? I'd say not.

So if you didnt buy miner, you would still had only 100 BTC, it is less than 101 BTC in your example  

But obviously if we knew future, we would sell the BTC before the price drops  

[AFox]

interesting, did you try the 0.98.1 beta by any chance?
My results seem best with it, over the production 0.98.1, or any other.....
just asking...

I only tried with the official 0.98.1 not with the beta.
I don't really want to try it.

i can also confirm the beta is WAY better. i am not changing from it, my mercury is running at max

OK then, lets give it a try.