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Title: Brag: mined enough to pay my rent this month Post by: DennisD7 on January 31, 2014, 12:26:12 PM OK so I like keeping track of total mined BTC every month, and just see what that is in fiat at the end of the month.
This is the second month in a row (and quite possibly the last one ever) that I made enough to pay my rent with for that month. 8) Title: Re: Brag: mined enough to pay my rent this month Post by: _Miracle on January 31, 2014, 04:17:58 PM That is too cool. bet you're having fun.
Title: Re: Brag: mined enough to pay my rent this month Post by: cp1 on January 31, 2014, 04:19:43 PM How many months rent did it cost you to mine 2 months worth?
Title: Re: Brag: mined enough to pay my rent this month Post by: Sonny on February 01, 2014, 09:57:15 AM OK so I like keeping track of total mined BTC every month, and just see what that is in fiat at the end of the month. This is the second month in a row (and quite possibly the last one ever) that I made enough to pay my rent with for that month. 8) How much hashrate do you have? Title: Re: Brag: mined enough to pay my rent this month Post by: atc1 on February 01, 2014, 10:00:23 AM Why the last one ever? If you have that big a hashrate,your earnings won't be going anywhere.
Title: Re: Brag: mined enough to pay my rent this month Post by: Sonny on February 01, 2014, 10:09:22 AM Why the last one ever? If you have that big a hashrate,your earnings won't be going anywhere. As difficulty goes up, the revenue (bitcoin mined) will go down. Eventually, the revenue will not be enough for OP to pay the rent :P Title: Re: Brag: mined enough to pay my rent this month Post by: atc1 on February 01, 2014, 10:44:29 AM Why the last one ever? If you have that big a hashrate,your earnings won't be going anywhere. As difficulty goes up, the revenue (bitcoin mined) will go down. Eventually, the revenue will not be enough for OP to pay the rent :P That was my point. With him having a large enough hashrate to pay his rent,the difficulty increment can't possibly affect his earnings in a substantial way. Title: Re: Brag: mined enough to pay my rent this month Post by: Sonny on February 01, 2014, 11:29:14 AM Why the last one ever? If you have that big a hashrate,your earnings won't be going anywhere. As difficulty goes up, the revenue (bitcoin mined) will go down. Eventually, the revenue will not be enough for OP to pay the rent :P That was my point. With him having a large enough hashrate to pay his rent,the difficulty increment can't possibly affect his earnings in a substantial way. Maybe his hashrate is not that big, and the revenue can only marginally cover the rent this month. Title: Re: Brag: mined enough to pay my rent this month Post by: Xyver on February 02, 2014, 03:23:26 AM Why the last one ever? If you have that big a hashrate,your earnings won't be going anywhere. As difficulty goes up, the revenue (bitcoin mined) will go down. Eventually, the revenue will not be enough for OP to pay the rent :P That was my point. With him having a large enough hashrate to pay his rent,the difficulty increment can't possibly affect his earnings in a substantial way. I.... What? Do you understand percentages? If the difficulty rises 15%, your revenue drops 15%. If you have 1 gigahash, it drops 15%, if you have 10 terahash it drops 15%. Difficulty increments affect everyone equally substantially. Unless of course, you mean that he makes (for example) 10 000 a month mining, and only needs to pay 1 000 rent. Then an increase of 15% difficulty would only lower earnings to 8 500, still enough to pay the 1 000 rent. But looking at it that way, that's more substantial losses the bigger the miners you have! 10 000$ revenue dropping to 8 500$ is a bigger monetary loss then 10$ dropping to 8.50$.... But percentages don't discriminate, they affect everyone equally. Title: Re: Brag: mined enough to pay my rent this month Post by: J_Dubbs on February 02, 2014, 03:44:13 AM How many months rent did it cost you to mine 2 months worth? :D :D :D Title: Re: Brag: mined enough to pay my rent this month Post by: atc1 on February 02, 2014, 04:47:35 AM Why the last one ever? If you have that big a hashrate,your earnings won't be going anywhere. As difficulty goes up, the revenue (bitcoin mined) will go down. Eventually, the revenue will not be enough for OP to pay the rent :P That was my point. With him having a large enough hashrate to pay his rent,the difficulty increment can't possibly affect his earnings in a substantial way. Unless of course, you mean that he makes (for example) 10 000 a month mining, and only needs to pay 1 000 rent. Then an increase of 15% difficulty would only lower earnings to 8 500, still enough to pay the 1 000 rent. That's what I meant. Sure,it's substantial,but my point was that his rent can still be paid. Title: Re: Brag: mined enough to pay my rent this month Post by: BeepBeep2 on February 02, 2014, 05:50:47 AM Why the last one ever? If you have that big a hashrate,your earnings won't be going anywhere. As difficulty goes up, the revenue (bitcoin mined) will go down. Eventually, the revenue will not be enough for OP to pay the rent :P That was my point. With him having a large enough hashrate to pay his rent,the difficulty increment can't possibly affect his earnings in a substantial way. Unless of course, you mean that he makes (for example) 10 000 a month mining, and only needs to pay 1 000 rent. Then an increase of 15% difficulty would only lower earnings to 8 500, still enough to pay the 1 000 rent. That's what I meant. Sure,it's substantial,but my point was that his rent can still be paid. Is that not clear? He also says "and possibly for the last month ever"... Come on. Title: Re: Brag: mined enough to pay my rent this month Post by: atc1 on February 02, 2014, 05:56:52 AM Why the last one ever? If you have that big a hashrate,your earnings won't be going anywhere. As difficulty goes up, the revenue (bitcoin mined) will go down. Eventually, the revenue will not be enough for OP to pay the rent :P That was my point. With him having a large enough hashrate to pay his rent,the difficulty increment can't possibly affect his earnings in a substantial way. Unless of course, you mean that he makes (for example) 10 000 a month mining, and only needs to pay 1 000 rent. Then an increase of 15% difficulty would only lower earnings to 8 500, still enough to pay the 1 000 rent. That's what I meant. Sure,it's substantial,but my point was that his rent can still be paid. Is that not clear? He also says "and possibly for the last month ever"... Come on. Gah! Alright,alright,you win! I was just stating one of the many myriad possibilities of OP's rent paying scheme. :P Title: Re: Brag: mined enough to pay my rent this month Post by: Sonny on February 02, 2014, 07:35:34 AM Why the last one ever? If you have that big a hashrate,your earnings won't be going anywhere. As difficulty goes up, the revenue (bitcoin mined) will go down. Eventually, the revenue will not be enough for OP to pay the rent :P That was my point. With him having a large enough hashrate to pay his rent,the difficulty increment can't possibly affect his earnings in a substantial way. Unless of course, you mean that he makes (for example) 10 000 a month mining, and only needs to pay 1 000 rent. Then an increase of 15% difficulty would only lower earnings to 8 500, still enough to pay the 1 000 rent. That's what I meant. Sure,it's substantial,but my point was that his rent can still be paid. Is that not clear? He also says "and possibly for the last month ever"... Come on. Gah! Alright,alright,you win! I was just stating one of the many myriad possibilities of OP's rent paying scheme. :P lol ;) Title: Re: Brag: mined enough to pay my rent this month Post by: DennisD7 on February 03, 2014, 10:35:44 AM That is too cool. bet you're having fun. Yes, it's a lot of fun!How many months rent did it cost you to mine 2 months worth? I don't even want to think about it :D - but I see it as a somewhat expensive hobby. People buy vintage cars just to tinker with them right?How much hashrate do you have? It's about 132 Gh/s these daysTitle: Re: Brag: mined enough to pay my rent this month Post by: DennisD7 on February 03, 2014, 10:44:19 AM Why the last one ever? If you have that big a hashrate,your earnings won't be going anywhere. As difficulty goes up, the revenue (bitcoin mined) will go down. Eventually, the revenue will not be enough for OP to pay the rent :P That was my point. With him having a large enough hashrate to pay his rent,the difficulty increment can't possibly affect his earnings in a substantial way. Unless of course, you mean that he makes (for example) 10 000 a month mining, and only needs to pay 1 000 rent. Then an increase of 15% difficulty would only lower earnings to 8 500, still enough to pay the 1 000 rent. That's what I meant. Sure,it's substantial,but my point was that his rent can still be paid. Is that not clear? He also says "and possibly for the last month ever"... Come on. Gah! Alright,alright,you win! I was just stating one of the many myriad possibilities of OP's rent paying scheme. :P lol ;) Just to clear this up :) Mining with a constant hashrate it seems like each month brings in about 50-60% compared to the previous month. In late November I got a lot of new equipment, so I knew December would be good, and it turned out to cover my rent with a big margin. This happened again in January but just barely, so it seems reasonable to expect February to fall under the line. However, if there is a big enough price spike then I could get lucky again - also if I decide to buy new equipment of course. Title: Re: Brag: mined enough to pay my rent this month Post by: oxfardk on February 04, 2014, 06:26:16 AM it's good news for you
what kind of new equipment did you decide to invest ? Title: Re: Brag: mined enough to pay my rent this month Post by: nickenburg on February 04, 2014, 12:49:21 PM What equipment are you using?
What coins are you mining? Title: Re: Brag: mined enough to pay my rent this month Post by: daserpent1 on February 04, 2014, 05:43:26 PM Well, you can switch to mining altcoins once BTC becomes unprofitable.
But on the other hand, the amount of bitcoins mined per month right now may not be profitable for you at the current BTC rate but, if there is another price increase/pump .. then the same amount of BTC would mean you are making a profit. No one really thought that BTC could reach $1000+ in such a short time, but it did. So, you should keep that in mind while deciding whether to quit mining BTC or not. I would stick to mining BTC/LTC and not bother with the altcoins. Title: Re: Brag: mined enough to pay my rent this month Post by: DennisD7 on February 05, 2014, 05:20:48 PM it's good news for you what kind of new equipment did you decide to invest ? What equipment are you using? What coins are you mining? Well, you can switch to mining altcoins once BTC becomes unprofitable. But on the other hand, the amount of bitcoins mined per month right now may not be profitable for you at the current BTC rate but, if there is another price increase/pump .. then the same amount of BTC would mean you are making a profit. No one really thought that BTC could reach $1000+ in such a short time, but it did. So, you should keep that in mind while deciding whether to quit mining BTC or not. I would stick to mining BTC/LTC and not bother with the altcoins. It's all Bitcoin and it's all ASICs so I don't have much choice than to stick with it anyway :) I use 2x 60Gh Butterfly Singles + 2x 7Gh Butterfly Jalapenos. I ordered them back in May so that sucked, but once they arrived it was a lot of fun to tinker with. I'm totally expecting Bitcoin to go up a lot in the future - I remember this summer: "will BTC ever reach $200 again?", "I'm quitting, I should have invested when it was $10", and of course "what if it ever reaches $1000?". I'm pretty sure we'll look back on spring 2014 the same way, more or less. Altcoins are fine, but I think BTC will be considered the "big, slow and steady" in the future, a bit like we think of gold today. So yeah, I'm sticking with it. To the moon, right? :) Title: Re: Brag: mined enough to pay my rent this month Post by: Unpmeric on February 07, 2014, 11:37:17 AM I think sticking with mining BTC is a good idea for now. Not to sure about all these alt currencies to many appearing now and it diluting the value of them all. Title: Re: Brag: mined enough to pay my rent this month Post by: Sonny on February 07, 2014, 02:13:43 PM I think sticking with mining BTC is a good idea for now. Not to sure about all these alt currencies to many appearing now and it diluting the value of them all. If you join Middlecoin, you could mine the most profitable scrypt coin and automatically exchanges those coins for bitcoin. The value of those altcoin could crash sometime in future, but you don't really need to care about that if you just keep exchanging them for bitcoin. |