Closure of Group Buys

Due to underwhelming response for both the group buys, they will be closed with immediate effect.

For those who are looking to purchase USB Block Erupters from Bitfountain, you may indicate your interest by replying here.  I do have some on-hand that I can sell around SGD$50 each.

Alternatively, you can also get them cheap at bitcointalk.org forums but shipping may be costly (both in financial terms as well as waiting time).

Regards.
Derek

 

KNCminer Jupiter Miner

It’s September and the difficulty is 65 million.  The next retarget looks like it is going to be at 85 million, which isn’t good outlook.  I feel it’s not going to plateau anytime soon and the end 2013 hope of difficulty is unlikely to maintain in and around 250 million.

In any case, KNCminer has provided some updates on the miners that they are manufacturing as well as hints of shipping taking place “towards the end of September”.  Ours will ship in October and I sure hope it will be early October so that we can get online before difficulty exponentially scales up.

Here is the chassis for the miner.  Dimensions are about 40cm x 50cm.  Unfortunately height is not been released but I would hazard a guess at around 4U if put into a standard computer rack.

case3small

As you can see, it kind of looks ugly.  But who cares as long as it prints us the money that we’re all hoping for.

There’s also a pic of the PCB where the ASIC chip will be on.

ASIC_PCB

This is the board that will have 1x 100GH/s chip sitting on it and the Jupiter will have 4 of these boards installed on it.

Even if difficulty is spiking now.  The good news is that BTC is steadily rising and is now around USD$144 on Mt Gox or SGD$175 on FYBSG.  If prices continue to rise, then the loss of BTC from mining isn’t that hard to stomach since it will be compensated by the increasing BTC price.

KNCminer Updates [29 Aug 2013]

Current Difficulty 65,750,060
Est. Diff Increase (Daily) 1.78%
Est. Diff End 2013 640,253,200
Est. Jupiter Online 15-Oct-13
Est. BTC earned End 2013 53.4258965
Current BTC/USD Rate 128.3
Est. USD earned End 2013 6,854.5

New retarget and new numbers as shown above.  It seems like revenue will be dropping as more processing power comes online.  Best thing now is to take ownership of the Jupiter unit as soon as possible and/or hope for difficulty to plateau out for 1-2 retargets.

KNCminer updates [14 Aug 2013]

Current Difficulty 50,810,339
Est. Diff Increase (Daily) 1.43%
Est Diff End 2013 365,666,551
Est. Jupiter Online 15-Oct-13
Est. BTC earned End 2013 78.05645561
Current BTC/USD Rate 110.6
Est. USD earned End 2013 8,633.04

Wow, what a big jump in difficulty this retarget!  The difficulty jumped more than 35% just to cross the 50 million mark in terms of difficulty.

This will definitely kill off all the remaining miners depending on GPUs and FPGAs who do not have access to free power.

I have also changed the way BTC earnings are calculated and will stick to this method of calculation as compared to the previous method.  I have also hazard a guess that we should have the Jupiter unit up and running in mid Oct and hope the Gods do give their blessings to have this come true.

The other news is that now I am officially a reseller (who isn’t) of KNCminer products so feel free to refer people by using this link.

 

SGMC Venture Update [5 Aug 2013]

Here’s the new predictions after the last difficulty retarget.  Hoping that the difficulty increase to plateau for one or two retargets.  Difficulty is rising very fast and the network hashrate is growing strong.  If this keeps up, we may not ROI that fast after receipt of the Jupiter unit.

Period Beginning Est. Difficulty Growth BTC@400GH USD@400GH
Thursday, October 03, 2013 85265159 17.91% 28.3115418 $2,974.41
Tuesday, October 15, 2013 100536149 17.91% 24.01114562 $2,522.61
Sunday, October 27, 2013 118542173 17.91% 20.36396037 $2,139.44
Friday, November 08, 2013 139773076 17.91% 17.27076618 $1,814.47
Wednesday, November 20, 2013 164806434 17.91% 14.64741427 $1,538.86
Monday, December 02, 2013 194323267 17.91% 12.42253772 $1,305.11
Saturday, December 14, 2013 229126564 17.91% 10.53560998 $1,106.87
Thursday, December 26, 2013 270163131 17.91% 8.93529811 $938.74
Tuesday, January 07, 2014 318549348 17.91% 7.57806641 $796.15
Total 144.0763405 $15,136.66

Meanwhile here’s a quick look at our holdings as well.

SGD (In-hand) 97.56
BTC (Held in Pool) 0.00288992
NMC (Held in Pool) 0.01683428

SGMC : 1PxH5B5KEN1T7NSjyCuf4jRE5Sd1n3anQr

SGMC Holdings Update [28 July 2013]

Whilst waiting for delivery of our mining machine, some of us are mining in our spare times.  Here is a regular update on the state of our holdings so far.

Keep on mining whenever possible, it may not be a lot but hey, it’s free money!

SGD (In-hand) 97.56
SGD (Held in Exchanges) 0.00
USD (Held in Exchanges) 0.00
BTC (In-hand) 0.00000000
BTC (Held in Pool) 0.00041252
NMC (Held in Pool) 0.00241485

KNCminer Venture Predictions

After last night’s difficulty retarget, below find the new assumptions on revenue for the Jupiter unit.  Do note that the USD/BTC rate has also been adjusted to current state.

The earlier we receive the unit the better of course!  Receiving later would affect earnings.

Period Beginning Est. Difficulty Growth BTC@400GH USD@400GH
Thursday, October 03, 2013 83956560 17.89% 31.14889164 $2,848.57
Tuesday, October 15, 2013 98976388 17.89% 26.42199662 $2,416.29
Sunday, October 27, 2013 116683264 17.89% 22.41241546 $2,049.62
Friday, November 08, 2013 137557900 17.89% 19.0112948 $1,738.58
Wednesday, November 20, 2013 162167008 17.89% 16.12629981 $1,474.75
Monday, December 02, 2013 191178686 17.89% 13.67910746 $1,250.95
Saturday, December 14, 2013 225380553 17.89% 11.60328056 $1,061.12
Thursday, December 26, 2013 265701134 17.89% 9.84246379 $900.09
Tuesday, January 07, 2014 313235067 17.89% 8.34885383 $763.50
Total 158.594604 $14,503.48

KNCminer Venture [17 July 2013]

After paying KNCminer for the upgrade to Jupiter, below is our current balance.

SGD$ 97.56

KNCminer has updated the system to reflect the Jupiter upgrade!  Steady!  Let’s hope it comes early in October!

KNCminer Venture

Thanks for all the prompt payment.

I have already sent KNCminer the payment for the upgrade and pending their confirmation.

Everything looks good from here.  Right now it’s a waiting game and praying for difficulty to stay low. Oh! And for the price of BTC to increase too. 🙂

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KNCminer Venture $ Predictions

With the latest jump in difficulty, I have adjusted the projected earnings for the Jupiter model that we will be getting.

Seems like the ROI is getting further away but then again, it also depends on the USD/BTC rate.  Today’s rate is calculated at around USD$82.

Period Beginning Est. Difficulty Growth BTC@400GH USD@400GH
Thursday, October 10, 2013 82749689 17.88% 34.0342 $2,822.12
Wednesday, October 23, 2013 97545333 17.88% 28.87190375 $2,394.06
Tuesday, November 05, 2013 114986439 17.88% 24.4926227 $2,030.93
Monday, November 18, 2013 135546014 17.88% 20.77758971 $1,722.88
Sunday, December 01, 2013 159781642 17.88% 17.62605159 $1,461.55
Saturday, December 14, 2013 188350599 17.88% 14.95253788 $1,239.86
Friday, December 27, 2013 222027686 17.88% 12.68454181 $1,051.80
Total 153.4394474 $12,723.20