Except your premise is wrong, same mistake as the OP. You are assuming difficulty will increase by something like 30% perpetually, which simply is false and impossible. The increase in difficulty will also slow down exponentially. We will probably NEVER see a 30% increase again. We are seeing mostly 20% increases nowadays, and soon even 20% will be history. So your "expert mode" calculator will also paint the wrong picture for you, because it assumes difficulty increase perpetually, which is simply UNTRUE, we've had many many difficulty DECREASES in the history of Bitcoin. We will probably see this phenomenon again within 6 months or so (as long as the price stays at $500 level).
I agree that it is impossible for the difficulty to increase 30% each period forever. HOWEVER, it doesn't have to do it forever, it only has to maintain that rate for a few months to have almost the same result. For example, a miner that currently mines 1 BTC per 2016 blocks will mine about 4.3 BTC total if the difficulty increases 30% each period forever. On the other hand, if the difficulty increases 30% each period for 6 months and then 7% after that forever, the miner will mine about 4.4 BTC. The second case is much more realistic, but it has nearly the same result. Thank you for pointing that out. Everybody who states that it's silly to estimate that network growth rate will be exponential until the end of time hasn't bothered to check to see what the difference is from a hypothetical of just 4 or 6 months. It's like a petri dish that was just seeded. Yes sooner or later it will saturate, but we just go incubated  |
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Pics or it didn't happen.
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You need to release your private info to a well known escrow on the board. That way if something happens people know how to find you. Mods aren't typically involved. Buyer beware.
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Hi all:
Sorry I was away for a bit, day job got a bit mental! but back now.
So yes as someone has posted, we decided to buy 6 x R9 270 (non-X), these cost £844
PSU, Mobo, Processor for about £250
Risers were about £70
Some metal bits in my shed to build a DIY style Chassis £0
The risers were unexpectedly more expensive than first thought.
I would say these are pretty standard prices in the UK.
...and guess what... we forgot a switch to turn the thing on and off!! Hopefully get that tomorrow and I'll post a pic of this rig.
I can't wait to buy this switch and find the time tomorrow to build it.
Any a advice where to test the rig on? I've used coinmine.pw and multipool.us on my PC with low Khs but I'm wondering if there is a better option?
Thx
Have fun building the rig. If everything goes to plan it's fun. When blank screens pop up your pull your hair out. Buy coins with the rest of the $ since coins a relatively cheap right now. |
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lol I totally underestimated the time it would take.
Now about 27 PH/s is on the network.
In 6 months will it be 450 PH/s?....likely...
Don't know about 450 but I suspect at least 200PH/s |
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>It will only decrease as the difficulty goes up.
Well, that's because you will get less return as the difficulty goes up.
I believe right now it is a 4 months return investment and only after that you will see profit.
Don't know what magical calculator you're using but it will not turn profitable after 4 months. It has a decaying return like all miners and it's priced too high compared to miners to begin with. Only good for flipping or entertainment. well.. this is my magical calculator.. http://www.bitcoinx.com/profit/I used your calculator and with even a ridiculously optimistic 10% increase per difficulty I'm still coming up negative. As noted above, you're probably miscalculating the effect of difficulty increases. |
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It might help is you mention where you are located roughly. Somebody in Australia probably won't spend the extra shipping to ship from Sweden or something like that.
Also, we have a very active Marketplace subforum for selling goods/services.
Best of luck.
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I have been a member of this site for about 45 days.
The website has had some growing pains but they always pay and respond to customer requests as quickly as possible. No problems with withdraw. Buy low & sell high & you can make some good btc with this program.
What site did you use as here in this post I see like 3 refferal links. If it is proffitable and easy to use I am really interested in joining that cloud mining pool Creepywheepy, I regret to inform you that no cloud hashing site is by default a profitable enterprise for anybody other than the company (if it were the company wouldn't be selling the hashing power). Now you can make a profit on some sites, such as by actively trading on CEX, but the odds are against you. 3 news users with referral links, sad. |
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What am I to infer from this nonsensical image? |
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Nope, 100's of thousands of people are buying high cost miners daily because there is no money in it!  There's barely even 100k ASICs out there and that's counting USB devices. The total number of 300GH/s+ devices is probably under 15k. People are buying because they are new to mining and don't understand trends, can't read graphs, and see people who started mining in 2010 and 2011 with thousands of coins. The truth is at present no miner appears to be profitable compared to buying coins directly. It's possible a company can ship something really early and you come out ahead (BTC profit, not fiat). Possible, but unlikely. The only reasons to be mining BTC are: 1) you like mining and don't care about profit/loss 2) you want to help keep the network decentralized 3) you think you can earn more coins by purchasing a miner and running on cheap electricity than if you had just spent the miner money on an exchange and bought the coins directly. 4) you want to solo mine to get coins with no history or taint |
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>It will only decrease as the difficulty goes up.
Well, that's because you will get less return as the difficulty goes up.
I believe right now it is a 4 months return investment and only after that you will see profit.
Don't know what magical calculator you're using but it will not turn profitable after 4 months. It has a decaying return like all miners and it's priced too high compared to miners to begin with. Only good for flipping or entertainment. |
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In the USA I pay .095 kw/h and that is higher than usual. I assume Europe has higher rates.
0.095/KWh is actually less than the residential rates for most of the country by average (don't know about median). With coal energy going up due to cap & trade the prices are rising. I pay $0.35/KWh here in CA. Yes, higher than most parts of Europe. I've moved most of my stable miners to Washington state and have power at 0.03 thanks to renewable hydroelectric. Xeno, to attract clients you need to prove you're serious by establishing a company, getting insurance coverage and having contracts. Look up how Dalkore did it. |
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I know of a pay per share/promo try shareperk.net they pay $1USD per offer. Necro a 3 year old thread to post a self promotion, reallly?  BTW, new users please note that leway has only been on the forums for 5 days and has posted that website 4 times in posts. Never click on links from brand new members unless you want to give away your coins to them. |
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Good day, I`m interested on mining Bitcoins and I have to invest arround 14k $ , what is the best equipement I can buy now or say 1 mounth from now so that I can make a profit, i don`t pay electricity and I would like to know how to build it myself just if you could give me some pointers on what exactly to buy ,from where and what could be the best prices for equipement? how much hash rate should i get for my money?
Could you explain how you get free electricity? Are you talking about solar energy or what do you mean by "don't pay electricity"? He's either stealing it, utilizing it work, has it as "free" from his rent/lease. Even solar isn't free since you have to pay/maintain the cells. Most people can find a little free electricity, but not enough to run a farm |
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elchorizo, For heaven sake, read the thread before you make your post.
You are running DC2T and Toxic´s! Those cards can do 1140/1800. Majority of 280x cards can not.
Besides. Those cards fans are screaming loud at 70+ %.
Of course, its possible to do 800s with proper setup. If its worth to spend so much more money and power cost on Toxic cards for gaining additional 50-60khs is another story completely.
Yeah, but now we've seen what a big epeen he has  |
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The only necessary downtime would be to clean fans, and that is variable from location to location. If you don't remove dirt/dust the efficiency will go down as the rig will run hotter typically.
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Downtime will cause thermal contraction and after enough cycles you could have some traces fail requiring a reflow. Let them run 24/7 and don't push them. Slow and steady....
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I have 10 sapphire 7950s, 6 6950s, and 32 6870s (the later 2 types I had over 2 years now). Only 1 fan has died on the 7950s, but it died after just 5 months so I toss it up as a bad fan. I run them between 55-65%. Personally I think 80% is too fast, but you're pushing them to mine more - you should expect to pay more in fan maintenance.
I have 10 XFX cards from 2011/2012 and had 3 fans fail in the last 2 months, guess 2+ years mining 24/7 is taking it's toll.
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You're extrapolating backwards for lack of a better word. calculate how much you make at current difficulty The next difficulty you will make about 0.8x that the one after you will make 0.8x the one above and so on it's exponential decay, at least for the rest of the year most likely. After 4 months the earnings will be trivial to waste time monitoring it. Start it, enjoy the light show and the fun stats, promote BTC |
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Well he should underclock as the most important thing to improve stability. Undervolting would help with temps but if you cut the juice too much you're back at an unstable rig.
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