|
Title: Question about ASIC mining Post by: johndawl on February 25, 2013, 09:58:15 PM I'm from the UK so I'll have to post in £.
You can spend around £150 or something to get a little computer (Raspberry Pi or something) and an ASIC that can mine at 4.5GH/s; if the Bitcoin mining calculator is correct in a month that's around 18.84 Bitcoins. At current exchange rates that's around £372.16 and the electricity costs wouldn't be that much, this seems too good to be true. Are ASICs really going to mine this efficiently and if so will the Bitcoin market adjust to the mining changes? Title: Re: Question about ASIC mining Post by: bam91 on February 25, 2013, 10:22:47 PM That is only if you have an asic unit working for you now at the current difficulty. Once ASIC's hit the scene in mass force, and going by the speculation of a 700TH network, the difficulty will be upwards of 100Mill.
Formula taken from bitcoin.wiki D * 2**32 / 600 DIfficulty*2^32/600= Network hashrate Plug in the 700TH network hashrate that some have stated will be the hashrate post ASIC 700000000000000*600=420000000000000000 420000000000000000/2^32=97788870.334625244140625(New DIfficulty) Title: Re: Question about ASIC mining Post by: johndawl on February 25, 2013, 10:26:57 PM That is only if you have an asic unit working for you now at the current difficulty. Once ASIC's hit the scene in mass force, and going by the speculation of a 700TH network, the difficulty will be upwards of 100Mill. Oh right not as profitable as I thought, still profitable though right? Title: Re: Question about ASIC mining Post by: greyhawk on February 25, 2013, 10:33:28 PM That is only if you have an asic unit working for you now at the current difficulty. Once ASIC's hit the scene in mass force, and going by the speculation of a 700TH network, the difficulty will be upwards of 100Mill. Oh right not as profitable as I thought, still profitable though right? Not really, no. Think cents a month if even. Title: Re: Question about ASIC mining Post by: johndawl on February 25, 2013, 10:37:13 PM That is only if you have an asic unit working for you now at the current difficulty. Once ASIC's hit the scene in mass force, and going by the speculation of a 700TH network, the difficulty will be upwards of 100Mill. Oh right not as profitable as I thought, still profitable though right? Not really, no. Think cents a month if even. According to the difficulty given before and http://www.alloscomp.com/bitcoin/calculator it'd be 0.7 bitcoins per mouth. Title: Re: Question about ASIC mining Post by: greyhawk on February 25, 2013, 10:45:43 PM Factor in the impending crash of the bubble.
Title: Re: Question about ASIC mining Post by: johndawl on February 25, 2013, 10:54:24 PM Factor in the impending crash of the bubble. What do you mean? Title: Re: Question about ASIC mining Post by: freedmind on February 25, 2013, 11:02:32 PM Factor in the impending crash of the bubble. What do you mean? I think he means because so many people are mining, there will be more coins and thus less cost per coin. The explosion of miners will significantly decrease the value of the bitcoin. The bitcoin is growing in popularity though, so it could be more profitable so long as the demand continues to rise. Title: Re: Question about ASIC mining Post by: Gabi on February 25, 2013, 11:05:09 PM Factor in the impending crash of the bubble. What do you mean? I think he means because so many people are mining, there will be more coins and thus less cost per coin. The explosion of miners will significantly decrease the value of the bitcoin. The bitcoin is growing in popularity though, so it could be more profitable so long as the demand continues to rise. Are you trolling or what? Title: Re: Question about ASIC mining Post by: teknic111 on February 25, 2013, 11:24:29 PM Factor in the impending crash of the bubble. What do you mean? I think he means because so many people are mining, there will be more coins and thus less cost per coin. The explosion of miners will significantly decrease the value of the bitcoin. The bitcoin is growing in popularity though, so it could be more profitable so long as the demand continues to rise. Are you trolling or what? Title: Re: Question about ASIC mining Post by: bam91 on February 25, 2013, 11:26:19 PM A crash is always possible, however i believe that around september, october the.price should stabilize at around $23.
Title: Re: Question about ASIC mining Post by: bam91 on February 25, 2013, 11:31:24 PM If you want to see a nice return post asic, hope the price floats aroind $20 and you have a rig that pumps out more than 200gs
Title: Re: Question about ASIC mining Post by: darkmethod on February 25, 2013, 11:47:32 PM I'm excited about the future of ASIC mining. And I have ordered a couple ASIC machines from Butterfly Labs. As for speculating future returns, overall it is more of an experiment for me. I didn't want to be left behind and I wanted to take part in the ASIC revolution first hand.
Title: Re: Question about ASIC mining Post by: freedmind on February 26, 2013, 01:11:01 AM Factor in the impending crash of the bubble. What do you mean? I think he means because so many people are mining, there will be more coins and thus less cost per coin. The explosion of miners will significantly decrease the value of the bitcoin. The bitcoin is growing in popularity though, so it could be more profitable so long as the demand continues to rise. Are you trolling or what? I apologize for any bad info I have claimed to know about. I know way way too little about mining to butt in here and talk about bitcoins future. I just just joined this forum because I have had a problem with bitinstant and my funds have disappeared. I don't have enough knowledge of the bitcoin to make any predictions on its worth. I have the same question about how the bubble can be predicted. Title: Re: Question about ASIC mining Post by: Evolvo on February 26, 2013, 05:05:11 AM If butterfly labs ever starts shipping we're going to see the difficulty and hash rate shoot up very quickly
|