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Title: Math behind bitcoin miner Post by: MANofthePEOPLE on December 10, 2013, 09:00:29 PM Hi guys
I had a look at this miner from butterflylabs and I wonder if someone can do the math, if it's worth it? I realize that bitcoins might be useless tomorrow making it a bad investment but I'm still interested in it. Unfortunately I don't know enough about bitcoins, the mining prodecure or math for that matter to calculate it myself. https://products.butterflylabs.com/homepage/500-gh-s-bitcoin-miner.html Title: Re: Math behind bitcoin miner Post by: tagged on December 10, 2013, 09:20:02 PM Assuming that you get this in 2 weeks, and guessing that difficulty goes up another 20% then, (guessing around 1.2Billion difficulty), and IF difficulty does NOT go up again (which it will in 2 weeks), it would take you 127 days to break even, also assuming that the value of Bitcoin stays at $1000.
So, if you know what the price of BTC will do over the next 4 months, and what difficulty will do over the next 4 months, and how long it will actually take you to get this rig, I would think this is a very risky investment and pretty late in the game. I would look at a 2TH or 3TH rig from black arrow or Cointerra, or the KNC miner, most will be Q1 or Q2, but are priced MUCH better than this. I would pass personally. Title: Re: Math behind bitcoin miner Post by: MANofthePEOPLE on December 10, 2013, 09:33:29 PM Assuming that you get this in 2 weeks, and guessing that difficulty goes up another 20% then, (guessing around 1.2Billion difficulty), and IF difficulty does NOT go up again (which it will in 2 weeks), it would take you 127 days to break even, also assuming that the value of Bitcoin stays at $1000. So, if you know what the price of BTC will do over the next 4 months, and what difficulty will do over the next 4 months, and how long it will actually take you to get this rig, I would think this is a very risky investment and pretty late in the game. I would look at a 2TH or 3TH rig from black arrow or Cointerra, or the KNC miner, most will be Q1 or Q2, but are priced MUCH better than this. I would pass personally. Big thanks man. The Cointerra for $5k is better than the one I linked? How come it's so much cheaper? And while I have you on the thread, how long would it take for the Cointerra to pay for itself? I know I might sound like a retard for wanting to buy this kind of stuff without any knowledge whatsoever. Reason being is that I'm working basically 24/7 and just got into bitcoins which I find pretty damn interesting. So since I work so much I have quite a bit of money but no hobbies, so why not let bitcoins be my hobby. Title: Re: Math behind bitcoin miner Post by: AmericanBit on December 10, 2013, 11:51:39 PM Assuming that you get this in 2 weeks, and guessing that difficulty goes up another 20% then, (guessing around 1.2Billion difficulty), and IF difficulty does NOT go up again (which it will in 2 weeks), it would take you 127 days to break even, also assuming that the value of Bitcoin stays at $1000. So, if you know what the price of BTC will do over the next 4 months, and what difficulty will do over the next 4 months, and how long it will actually take you to get this rig, I would think this is a very risky investment and pretty late in the game. I would look at a 2TH or 3TH rig from black arrow or Cointerra, or the KNC miner, most will be Q1 or Q2, but are priced MUCH better than this. I would pass personally. Big thanks man. The Cointerra for $5k is better than the one I linked? How come it's so much cheaper? And while I have you on the thread, how long would it take for the Cointerra to pay for itself? I know I might sound like a retard for wanting to buy this kind of stuff without any knowledge whatsoever. Reason being is that I'm working basically 24/7 and just got into bitcoins which I find pretty damn interesting. So since I work so much I have quite a bit of money but no hobbies, so why not let bitcoins be my hobby. Never buy anything from Butterfly Labs. They are the biggest scam in the bitcoin world. I like KNC personally. THey always deliver more power than promised. |