I'm at 1.5 THs and about 1 1/2 months ago, I was earning well over 0.1 everyday (Slush at 1800 THs). For granted, some days I wasn't making that much. Currently, with nearly 4000 THs, my earning has been cut by half. With today price ($610), I making about $30 a day. It's getting worse every day for avg. miner.
You could either keep up the hashing race or you could trade (other alt coins).
Actually, it's getting this much harder even for the industrial sized mining operations. Primary difference is, they have higher profit margins as a result of lower electricity costs (in most cases). Coupled with selling off the hardware as it approaches uselessness and a significant portion of mined BTC being directly reinvested into additional, more efficient hash. But even the larger operations are suffering. Bitcoin price is going to have to rise drastically here over the coming months or a whole lotta people are going to have a bunch of useless heat-generators sitting on their shelves at home. I know I do. My BFL gear (65nm) stuff is about to get shutdown and I'm only paying 0.07/kw/h I had free electricity up to 20KW/h (heat limit) and I still stopped my BFL gear last month. I was making more per watt with my scrypt miners than I was with the BFL gear. Sadly it will be going to ewaste recycling shortly. |
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The eletricity rates are really not the main consideration in determining whether or not you can profit from mining. The cost of the ASIC hardware is the major hurdle, and as we continue to see decreasing cost per GH/s the difficulty will just keep going up.
Right now in just one months time you can go from being worthwhile to mine to a simple loss since 1 month is about 3 difficulty bumps.
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Just re-enrolled but didn't see any confirmation. Just for the record:
Starting Post: 1317
BTC Address: 12nHiFvq1wXBJmPS2LG6eKaoLitXmg3AcR
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Bitcoin doesn't want to rely on trust. If we're trusting them not to do something immoral we have messed up. Most of the public mining on there hasn't ever heard this interview. Some probably weren't even aware of the issue as they just set their miners and walk away.
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The fiat world is worrying about Iraq and oil production while the BTC/crypto community is worrying about 51% attacks and the centralization of mining. I think BTC would have continued up past 668 if Ghash.IO wasn't just giving us lip service.
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My worst decision was to buy on the top in January 2014.
Even though the numbers are bigger the percentage drop wasn't that much. When I got in Bitcoin was about $17 and 6 months later (Jan 2012) it was $2, so $900->$600 isn't too bad. It will recover. |
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If you're going to get just one, I would get a physical coin just for the novelty. It might appreciate a lot more than just the pure Bitcoin.
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Would there be a way to have software implement a query to make sure the miner will submit a winning solve (like a test solve) every X number of shares.
Since you basically asked the same question which I gave the long answer to, I'll give you the short version: No Hey I never said I was intelligent. I'm a physician damn it, we're not paid to think. Thank you for the response  |
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See the thread title and thought WTF. Looked over and saw "Dank" OK, I feel better now. Thankfully not as bad as "Do you think she's pretty?" though. I answered human as "I am a cybernetic organism, living tissue over a metal endoskeleton" was not available  |
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As noted above the first thing I would do is take out the HD/SSD and grab all your important files. You don't want some repair shop reading your stuff. Don't forget to grab your wallet files if they're on there too.
Put the drive back in and see if an external monitor works. If it doesn't the the laptop is probably good only for parts. Unless it was a high end laptop it's probably worth only $200 if it was working, being semi dead it's not worth repairing. Sell it to a ship or eBay for parts.
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Or just change the DNS server in the network config. Then windows won't even popup a network connection error. Of course Firefox and IE will launch and will take forever and timeout.
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Were you under the influence of any substances when you shot this? I'm surprised you didn't go faster, but yes it does look like a sweet ride.
Aren't you worried about the crow on the seat?
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I see energy. Purple waves of shimmering energy.
Stop pushing on your eyeballs. I see a dirty ceiling fan that I've been wanting to clean for 3 months now. |
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Andrew Jackson. His campaign slogan was "Kill the Bank". And he did it. Despite the head of the central bank, Nicholas Biddle vowing to ruin the economy first.
Jackson also paid off the national debt entirely. The first and only president ever to do so.
Detailed in the book: "A History of Money and Banking in the United States: The Colonial Era to World War II"
Jackson didn't even need bitcoin.
That's BS! Neil deGrasse Tyson has confirmed if that were to happen matter and antimater would obliterate each other and end life on Earth. Good thing the Fed has QE4. |
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My wife thinks it's my crazy little hobby. She will appreciate it more when I can buy a LV with it |
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You can get a lot of these card on the cheap on eBay due to all the miners dumping them. Scrypt hashrates are going up with ASICs now.
The problem with this is that even if you get the cards cheaply they are still unprofitable to operate. That's why they're dumped on eBay and not here saving the seller a 20% fee. When there was a shortage you could sell a 5830 on here and now there's a glut of cards. |
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None because if it were possible bitcoin would be useless.
> 1000, because people are stupid. Well now that the OP made this post showing a nice juicy address the fools will come out of the woodwork. Queue question on how to crack the key in 3, 2, ... |
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Preorders are the cancer of Bitcoin mining. You may or may not get your hardware in time to get at least a little bit of your BTC back. So many companies have run and delivered nothing that it's just not worth it. Buy hardware that is shipping. The ROI on preorders can look tempting, but you'll regret it when you end up with nothing to show for your coins
More eyactly , pre-orders are cancer of your eventual profits, but yeah i definetly agree with you on this one. You are betting two things that way, both your calculations that the miners are actualy ROI, and the time they should be in your hands. Keeping in mind that diff. is increasing at astonihing rate, per-orders should be in anycase avoided. In November of last year it would like as if BFL's 600 GH/s card would ROI in just a few months, but now 7 months later they haven't even started shipping (I think) and will likely now never ROI BFL's junk would never ROI in BTC and sadly the Monarch (if ever delivered) may never ROI in even fiat. Considering they starting taking pre-orders last year around this time I think they'll tell pre-order customers they can upgrade to the new "RandomButterflyName" which will be delivered in November 2014 (aka soon or Two Weeks). |
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People often use ROI in the wrong context especially in mining.
ROI is a measure of efficiency. It has a simple formula:
ROI = (Gains – Cost)/Cost
So in our situation it would be BTC mined - cost of miner / cost of miner
Anything you earn from mining is a Return On your Investment, even 0.000001BTC is a ROI
It will be a negative ROI until you reach equilibrium with your investment cost. Then ROI becomes zero (e.g. you bought a miner for 1BTC, you mined 1BTC) the ROI equation of (1BTC - 1BTC)/1BTC equals 0
Once your return equals the amount you invested you have reached Break Even or zero ROI
Anything over Break Even is Profit or positive ROI
Yeah this has been mentioned many times before. Many of us know what ROI is, it's just easier to type ROI rather than 0 ROI --> + ROI. There's no abbreviated icon on this forum for it and it's understood that ROI means get back what you paid since all negative ROIs are called loss here  Maybe we should call it PROI (positive ROI). |
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Back when I tried asics for the first time everybody said you can't have ROI with them. I bought some USB miners anyway and mined despite the rising difficulty, 5 months later I sold the miners to people who were into sha altcoin mining for about 1/4 of their initial price, but in the meantime Bitcion was worth over 6 times more  You made an ROI in fiat, but not in BTC - which is not bad. But the whole point of people getting involved with mining (at least from the economic side) is to acquire more BTC. |
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