no worries my calculations are being generated through this website: http://www.alloscomp.com/bitcoin/calculator.phpyou have to keep into consideration that the bitcoin difficulty generally gets harder although there have been some decreases recently. At 20$ a bitcoin it would generate $447 per month. All bitcoins generated after you pay off your rig investment = 100% profit. |
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p.s. i will never really own a yacht.  |
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Well what is your concern mathmatically speaking?
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So as many of you are aware there is large concern worldwide as to the global economy and what to invest in. In the past recent weeks investors are scrambling to make the correct decision as to what direction companies are going and where the world truly stands economically.
To the average middle class citizen good jobs are harder and harder to come by and the majority of investments have not produced what most have anticipated in the last 10 years. Of course the media pumps our tvs and newspapers full of reasons why these things are happening and how we are going to work through them. Well unfortunately I am not so optimistic. The US's GDP is less than 2%. The govt is so in debt they dont know which way is up. All other economies rely on our market to survive for them to survive. Companies are opting to build and manufacture products in any other country but the US. Which means the US is a consumer country. Hence our >2% GDP. So we make no money, we spend money, and it doesnt look like there is anyway to make money in the near future (overall as a whole). This is going to result (and already has begun in the last 2 weeks) in companies selling off and laying off employees to make quartly profits for investors. Which will make short term profits for investors.
For example HP is realizing it can no longer afford to provide PCs to consumers. Why? Consumers dont have money and if they did its becoming more and more appearant that they would rather have a smart phone or a smart pad which is capable of doing the primary things they need to accomplish. Supply and demmand. No demmand = not worth making supply. But that doesnt mean that there isnt some demmand for HP products. HP then discontinues its PCs to consumers and leave the "some demmand" slot open for an outside company to fill. Since no companies want to invest in the United States for manufacturing (because its more expensive for them to open shop or expand their existing "shop" here) an outside company can pick-up the left over "some demmand" that HP left behind. Making the US MORE of a consumer country. Which is why the market is not going to rebound aaannnnyyy time soon.
The next 1-2 years are going to be rough. And as an investor or an average middle class person (worldwide) what should you invest in? I will give you my opinion on the matter. BTC. And the funniest part of this story is the look on the faces of "well to do people" i speak with regularly where I am from. Its funny nobody even UNDERSTANDS bitcoin let alone thinks it is anything other than the dumbest kiddie idea they have ever heard. After first coming across the idea of BTC about 3-4 months ago I became very interested in the Bitcoin. Im not going to lie I did not understand it exactly for at least a couple days after I had began looking into it. But the farther and farther you get into understanding the economics of the Bitcoin, the more genius it actually is. Which brings me to the conclusion of why the Bitcoin will be around as long as the internet is still operating (which would be a more dramatic scenario than even I can fathom) Well because its genius, the more geeky people understand the bitcoin for what it is, a P2P currency which cant be counterfeit. This makes it valuable to the "geeky" person. He would like to have them because they have value to him. Which creates supply and demmand, as long as 2 people think bitcoins are valuable they have worth. They can be immediately send internationally to any peer within a matter of seconds compared to a bank transfer. They are somewhat anonymous and it is easy for people to send money without record of it (which is more or less being portrayed as a way for criminals to launder money, but whatever, I am not responsible for another mans actions)
Needless to say in the world we live in there WILL ALWAYS be a demmand for bitcoins in the present state they are being used as. But lets make a safe estimate of: bitcoins will be successfull for the next 2 years. If you were to buy 1 rig (with my design) for 1950 it would be equipt with 4 6950 generating conservatively 1320 mhash/s. which at todays current price would be $245 per month in bitcoins (at todays difficulty rate) also energy must be added into this calculation. (where I live energy is .081$ per kwhr so I am fortunate) I would pay my rig off in about 8 months. Keep in mind the bitcoin market just hit a bubble low in recent weeks and it would be safe to say (in my opinion) that they will again reach 20$ per bitcoin. Everytime the bitcoins peak you sell your saved up bitcoins for maximum profitability and purchase silver.
Silver has appreciated over 1000% since 2011. Maybe you missed that part where silver has appreciated 1000% since 2001. Buy silver. I would suggest 50% of profits to invest in silver and 50% of profits to be investied into new bitcoin rigs. Mark my words if you follow this plan as an investment strategy you will easily out perform any of your colleagues porfolios 100% in the next 2 years. I am currently in full motion towards this idea and will post pictures from my yacht in 2013, Toodles.
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Yep I gave up. They can enjoy their current members and forget about me ever trading with their market. Lame. On an upnote block difficulty seems to be slightly dropping! very nice!
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no i havnt looked into pin jumping or anything of the sort, i am overclocking using the standard ati software. where is the best place to read up on that at? and what would u recommend?
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overclocking power at 20% so 240w x 4? 960w? cpu = amd athlon II x2 255.3 3.1ghz 2mb, and 1 4gb stick of ddr3. will that be enough? also do i increase hashrate on my gpus by having a better cpu? if so is it sufficient? thx
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i have a antec 1200w psu. looking to upgrade mobo to GA-990FXA-UD7 and install 2 6950s on top of the 2 i already have. will my psu be able to support this. recommendations please?
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I also am quite new running 2 6950s right now. you will easy get 330mhash sec w one card. I unplugged my old 5770 put the new 6950 in and with a >10min install of ati drivers was up and running and mining in no time. I personally am purchasing my cards from a local computer vender which warranties the card for 30 days personally then will handle all warranties for me if anything were to happen. I prefer this over the online purchasing method due to the fact that i can service my computer immediately if anything goes wrong instead of waiting 10+ days downtime for replacement parts if needbe. my first 5770 was doa so it has already paid off by using my local vendor. assuming u have a local vendor that can closely compete with online prices. good luck |
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nice both posts very useful i think i will make a combination of them all. |
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K so we are all aware that everyone is out to get our bitcoins, just as in any aspect of life it seems, there is always someone trying to take advantage of other people. Unfortunately this is a harsh reality, which leaves us with the frequent question of how do we protect our bitcoins? My personal idea for my own use is exceptional due to the fact that I have an extra laptop laying around I dont often use. I am contemplating dedicating my laptop as my primary bitcoin banking account. Hence the reason for this post is to get the oppinion of others if this would be a safe and acceptable way to store and protect my bitcoins. I have at this point in time 1 mining rig. I am pool mining at mining.bitcoin.cz (api2.bitcoin.cz) I have my bitcoins deposit my bitcoins after each 1.0 BTC is generated to my MTGOX account. After each bitcoin is generated and deposited to my MTGOX acct I then power on my laptop (wifi can be enabled and disabled by a switch on the front of the laptop) transfer my bitcoins to my laptop and then power it off. This would be the safest way to transfer and store my bitcoins correct? Using the same if not similar method as a removable USB device, leaving me with the only variable that MTGOX could be hacked and I would lose 1-2 BTC or that for some reason mining.bitcoin.cz was compromised leaving me with >1BTC lost. Correct? Please advise. thx |
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True nothing is for sure. neither are bitcoins. difficulty goes up and down. price goes up and down. but it is possible to make some profits while im waiting for my rigs to pump out bitcoins. nevertheless it interests me and i will be slowly chipping away at turning my money into more money wether it is silver, bitcoins, or whatever i feel is the upcoming profitmaker. any profit is better than no profit. especially if u live in the u.s. which i do. |
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@neliski first what I would do is see what bitcoins are for sale in a large cluster say 100 bitcoins are for sale on mtgox at 10.5 usd. Then I would check the bitmarket.eu site and see what the largest cluster say 100-200 bitcoins were being asked for. Then I would calculate what the profit margin is. Say its 15% I probably wouldnt trade. If it was 25%+ then I would buy my bitcoins from mtgox which would be immediate. Transfer them to my bitmarket.eu account (which takes about 20min, I transfered 1 btc already) and that would hopefully be enough of a window to be able to sell the bitcoins off at the bitmarket.eu price and still be within 10%+ profit margin. I obviously see that there is room for error and that the market could easily move while im making my transfer. Then the money would be directly sent to my paypal acct and can be transfered to my bank (3-5 days {if anyone knows a faster way to get my money that would be awesome}) at no cost. Then again back to my dwolla account for another round. the only place I will be getting charged any fee is mtgox.com tiiiiiiiiiny little percentage fee for my purchase. I am completely fine with that. I look forward to making my bitcoin portfolio blossom.  |
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I agree being a little more polite might help. It would have been polite of them to maybe respond within 5 days or so. Nevertheless I should keep my composure. As far as someone vouching for me i am on my own as of now. Nobody I talk to a) understands the bitcoin or b) thinks i am a sane person for investing my money into the bitcoin. I am going to start buying silver off of ebay with my profits I think within a month or two they should have enough transactions on my ebay account to vouche for my authenticity. As for being a menace I could easily just create 10 ebay accounts sell a fake item to myself on ebay multiple times to make myself look legitimate. Its not like im not smart enough to do the things these hackers are doing its that a) i believe in karma and b) they are actually working harder than they have to. For example say I were to phish for computers placing these "viruses" and "trojans" which are readily available online and made a completely annonymous computer (laptop) and connected to the internet using a samsung galaxy 2 4g hooked up to tmobile getting 21mbps (not that it matters but thats what id do) then i could annonymously harvest bitcoins from computers i had taken over. Very easy actually. But the machines I would be taking over would be on average of what .75 ghash a sec? which means i would have to get 440 machines to stay online 24/7 and never know they had a virus to be the equivilent of 1 6950 video card. LOL sounds like a waste of my time. Plus with all the federal attention the hackers are getting its pretty obvious if those kids should toss their scripts and go legit they could be much more profitable. In the end 50% of my profits will be going to new rigs and 50% will be going to silver/gold coins. I see wealth in the immediate future. by the end of next year i hope to have 20-30k$ in coins. Probably more if you consider the american dollar is at an immediate downhill spiral. As for now 100% of my income is going to my rigs. VIVA LA BITCOIN!
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right now MTGOX = 9.4585 USD BITMARKET.EU = 7.99 EUROS. 1.92 USD profit.
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well the reason i wanted it so badly because at the time i could buy bitcoins from mtgox.com for 7.8 USD and sell them on bitmarket.eu for 7.4 euros which would deposit to my pay pal at 10.54 usd. of course now its evening out but the thing is every time the market fluxuates i can make profit by buying in one market and selling in another. jus bought another 6950 today im on to rig number 2 next. eventually they have to give me an account. or not. either way i am completely frusterated.
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K, so i am fairly new to the bitcoin scene. About 3 months of research into it i have finally completely my first rig. Mind you I am a fairly young kid and my financial situation keeps my bitcoin venture quite limited. I have had no issues creating my mtgox account my mine pooling though mining.bitcoin.cz acct my new pay pal acct my new ebay acct. ALL IS WELL! except of course i downloaded this nice little app for my iphone called bitcoin. It lets me see the trading value of bitcoins on other markets. One market which struck my interest was bitmarket.eu. So i readily signed up for a new account with hopes of making small trades (larger as my bitcoin portfolio grows) of course these freaking people have not allowed me to authorize my account. it has bee 6 days now since i originally applied for an account verification. SINCE then i have emailed them multiple times, stalked them on twitter and now i am going to start making conversations on random bitcoin forums until i at LEAST get a response back. this is A) completely rude and B) their own fault for having F$$%tard SYSTEM set up which has no method of actually verifying if the user is legit or not. THAT ISNT MY PROBLEM. IM SORRY IM NEW and cant prove that im legit but i am. I have used my email address to apply for this acct which has a local cable companies email service providers address attached to it. if they would take 2 minutes of their time and stop stuffing their faces with donuts and try to actually help me that would be awesome. HOW FREAKING RUDE!
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