Bitcoin Forum

Hi guys,

I'm noticing something interesting my mining rig maintains a fairly solid daily income despite difficulty increases or price fluctuations. For you guys who have been mining for a longer time noticed the same thing?

who are you mining with and what type of payment are you running with

Has increased by almost a third despite difficulty being way up. This is because price of bitcoin rose faster than I anticipated.

I calculated the price to be about $19 maximum by this difficulty last month but it looks like it's steadying at $25-$30.

Income of what exactly? Bitcoins or USD?

If you're on deepbit I'd say that's almost impossible, there was a period of unluckiness that deepbit hit, where the 24hr average block time was 23 minutes per block, right now it's 15 minutes per block (with 400Ghash/sec less).

Just a rough calculation there would suggest 1Ghash @ 23minutes / block (2300GHash)= 1.36BTC / day
while 1GHash @ 15minutes / block (1900Ghash) = 2.53BTC. Pretty sizable variation.
EDIT: 1Ghash @ 15minutes / block (3300Ghash) = 1.45BTC/day.

Not to mention before the difficulty jump total GHash was about 1900, then it went up to 2400ish, which would drop your payouts even at constant block generation.

If you're meaning USD then yes that could be true. You lose BTC generation but gain BTC value.

EDIT: Holy crap deepbit is 3300GHash/sec, I must be tired and reading wrong.

I'm doing the following calculation to determine the date the rig will have paid for itself

Total_BTC_Mined * USD_BTC * ZAR_USD / Days mining => Average daily income from mining and price rises.

Now the above is flawed in that the rig will have mined more BTC earlier on and that BTC will now be worth more. I need to sit down and figure out the daily ZAR (local currency) payment for each specific day.