Monthly Archives: November, 2013

SGMC Update [18 Nov 2013]

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Bitcoin is now USD$603 as of this writing.

Current Difficulty 609,482,679
Current SGD (In-hand) $700.75
Current USD (Exchange) $413.36
Current SGD (Exchange) $0.00
Current BTC (Wallet) 4.07219478
Current BTC (Pool) 0.11391983
Current NMC (Pool) 36.02744739
BTC on Exchanges 0.1
Expected USD Transfer $1,631.31
Energy Costs Till 13 Nov $70.32
Estimated Assets SGD$ $5,773.34

This is the current state of affairs.  Changes since last update :

  • Withdrawn SGD from FYBSG (Singapore Exchange).
  • Moved mining to Eligius pool so no more NMC generated for the time being. (Apparently NMC is also being generated!  Will update next post with the addtions)
  • Still pending USD withdrawal.

Watching BTC prices like a hawk for the past few days.  It is unbelievable today’s jump to USD$600.  Hope it will hold and go beyond!

SGMC Update [14 Nov 2013]

Current Difficulty 510,929,738
Current SGD (In-hand) -($671.51)
Current USD (Exchange) $0.00
Current SGD (Exchange) $891.91
Current BTC (Wallet) 2.20262487
Current BTC (Pool) 0.43489938
Current NMC (Pool) 36.02720075
BTC on Exchanges 1.5
Expected USD Transfer $1,631.31
Estimated Assets SGD$ $4,384.70

Time for another update now that BTC has blitzed past the USD$400 mark!

We have BTC, USD & SGD in multiple places at once now that we have more BTC to “play” with.  I’ve included the cost of running the miner at home at SGD$4 per day and the sheet above reflects the power cost for the past 2 weeks.

Rather than confuse everyone on the individual line items above, I have summarized into the last line “Estimated Assets” so it will be easier to see how much we are at now, factoring all the costs so far like power, GST etc.

The good news is that the next retarget may not be as high as the past 4 retargets.  It is currently estimated at between 10-20% (compared to the 30-40+%) in previous retargets.  This means that we will still be holding close to the 0.5 BTC/day mining rate.

For those who have told me that the miner is down as they see the hashrate as 0 to the right side, don’t worry.  I have temporarily moved the mining to a different pool.

If you want to see that stats as well as to check if the miner is running or not, the link is below.

http://eligius.st/~wizkid057/newstats/userstats.php/1PxH5B5KEN1T7NSjyCuf4jRE5Sd1n3anQr

SGMC Update [5 Nov 2013]

Current holdings are shown below.  Do note that we have USD$1000 in transit via international wire transfer to a local bank.  I haven’t checked yet but should take a few days to arrive.

Current Difficulty 390,928,787
Current SGD (In-hand) -($615.51)
Current USD (Exchange) $631.31
Current SGD (Exchange) $276.33
Current BTC (Wallet) 0.01099002
Current BTC (Pool) 0.75414233
Current NMC (Pool) 27.62580494

There is going to be another difficulty retarget later today in approx. 12-14 hours.  Definitely > 25% difficulty jump.  On another note, BTC as of now is trading at USD$241.

Personally, I feel that the PRCs are really into the BTC craze.  I love to look at their exchange volume at https://vip.btcchina.com/.  They have impressive trade volumes and based on the meagre knowledge I have on currency trading, I have a gut feel the Chinese are pushing the envelope.

On the Bitcoin hardware side of things, recently Hashfast delayed their shipments and caused some unrest in the community.  Fortunately for us, it keeps the mining window open for a while longer for the KNC owners to milk the Bitcoin cow for everything they’ve got!

KNC November shipment are rumored to have shipped, though there is no proof but it is definite that the November batch will go out on time as compared to the Sep/Oct batch.

Well, I hope that Hashfast & Cointerra (the 2 upcoming and most-likely-to-produce-miners shops) all the best in their launches.  It’s going to be a crazy end to 2014 and here are my biased speculations.

  • BTC price crashed as everyone cashes out for X’mas, falling to a low of USD$120.  Weeks later in early January 2014, China investors take another huge dump for Chinese New Year, dropping BTC even more.
  • Hashfast & Cointerra folds due to the drop in BTC price and close to 1 bill difficulty, forcing all their customers to refund their pre-orders.
  • KNC miners prices on eBay shoots up due to KNC being the only viable hardware platform to mine BTC efficiently.
  • Thus, after the dust settles, only Bitfury, KNC & a handful of ASICMINER USB/Blades will be the only hardware keeping BTC decentralized and up.

Update again after the difficulty retargets with the new daily rate based on the rise.

HUAT AH!

http://eligius.st/~wizkid057/newstats/userstats.php/1PxH5B5KEN1T7NSjyCuf4jRE5Sd1n3anQr