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Title: Lowest acceptable Bitcoin price Post by: giantdragon on May 07, 2013, 12:33:39 AM What is the critical BTC/USD exchange rate below which you will turn off mining rig (with current difficulty)?
Title: Re: Lowest acceptable Bitcoin price Post by: jhansen858 on May 07, 2013, 03:33:03 AM $1 / btc. I would just buy them at that point.
Title: Re: Lowest acceptable Bitcoin price Post by: BTCAviator on May 07, 2013, 02:29:40 PM I have made a calculator to answer just this question. Given a specified mining rig and electrical utility rate, I can show you at what difficulty your rig will not be profitable, compared to the current exchange rate of BTC. This should be applicable to solo or pooled mining.
Here is an example: BFL 5Gh/s ASIC Miner in BLUE Power consumption: 35 watts Price of electricity: $0.10 USD/KWHr Block Rewards: approx 25.5 BTC (25 for block, .5 for tx fees) Avalon Batch 3 63Gh/s ASIC Miner in RED Power consumption: 600 watts Price of electricity: $0.10 USD/KWHr Block Rewards: approx 25.5 BTC (same as above) Result: https://i.imgur.com/XOs3vZb.png PM me for a personalized calculation. I will work for what ever tip size you feel I deserve. 16a2WVi1u3VFDcqvuWHTahk15UM9CxAnUh Title: Re: Lowest acceptable Bitcoin price Post by: giantdragon on May 07, 2013, 02:58:17 PM BTCAviator, thank you!
I just considered buying BFL 5 Ghash ASIC, but now I see it not worth today (too high risk to never recoup investment). Title: Re: Lowest acceptable Bitcoin price Post by: cdog on May 07, 2013, 07:23:04 PM If you didnt order a BFL ASIC pre-May2013, just wait for their 2nd generation, which will be a lot better.
Title: Re: Lowest acceptable Bitcoin price Post by: BTCAviator on May 07, 2013, 08:17:05 PM Yeah, as soon as they get those 5gh/s ASICs pulling 5 watts only -like they originally planned- that will paint an entirely new curve, making it viable again. The arms race will continue.
Title: Re: Lowest acceptable Bitcoin price Post by: BTCAviator on May 07, 2013, 08:53:23 PM I found a bad math error in my spread sheet. It is fixed now. This looks A LOT more optimistic. Perhaps you should order one.
https://i.imgur.com/XOs3vZb.png Title: Re: Lowest acceptable Bitcoin price Post by: tuneman1980 on May 07, 2013, 09:01:56 PM If most minors follow this model then once it's no longer profitable to mine BTC if minors suspend their rigs then it should create a drop in supply. If demand holds steady then it'll push up the price to where BTC is profitable again. This could become a cyclical pattern.
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