Bitcoin Forum
May 28, 2024, 12:35:26 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
  Home Help Search Login Register More  
  Show Posts
Pages: « 1 [2] 3 4 5 6 7 8 9 »
21  Bitcoin / Mining / Re: douchebag newegg bumped the price of 5830 to $129.99 on: July 22, 2011, 03:04:12 AM
Got a problem with the price?  Don't buy then.  It's that simple.  If demand slows down, then the price will likely drop int he future.  Stop your bitchen!  Tongue
22  Bitcoin / Mining / Re: Mining will always be barely profitable on: July 13, 2011, 01:30:14 AM
Yes several members here have mentioned paying as low as 4c per Kwhr.  Crazy I know...

Also your pricing fails to mention that in some cities their is tiered pricing.  For example my friend pays about 12c per Kwhr for the first 10kwhrs per day.  Then about 15c for the next 5kwhrs.  Then it skyrockets to 29c after that.  Without the mining rigs he touches tier 3 every day just about, so its 29c per kwhr for mining rigs Sad
23  Bitcoin / Mining / Re: How much does it cost YOU to produce a bitcoin? on: July 13, 2011, 01:27:30 AM
About 30 hours and $3 in electricity.  Tongue
24  Bitcoin / Mining / Re: Mining will always be barely profitable on: July 12, 2011, 09:45:19 PM
I believe that, from now on, mining will always be barely profitable. Not much more nor much less than that.

This happens because difficulty always corrects itself when there are too many or too few people mining. If it is really worth it, people will get in. If it is not, people will get out. It's a smooth process of self-adjustment.

With time, mining hardware will become much more efficient and people that invest in recent hardware will get more profit than the others, but that will soon be corrected by hardware depreciation.

Am I missing something?


You are missing the fact that some people have free electricity, some pay just 3-4c per Kwhr, and others pay 30-50c!  I went in 50/50 with a friend on a 1G hash mining rig.  In the last 10 days it generated just over 3.5 BTC.  A lot of that was due to downtime from some of the pools out there.  The electricity cost at his place is 29c a Kwhr.  When we added profits up @ the current $14 ish per BTC.  In the last 10 days we basically broke even.  Needless to say, we stopped mining with this rig.  I will continue to mine with my 12c per Kwhr electricity, but im making only $9 a day with 1.4G hashes.
25  Economy / Trading Discussion / Re: Mtgox's 2 Factor Authentication: Yubikeys on: July 09, 2011, 10:22:01 AM
hope that is fixed soon.

The only issue I have with my yubikey is that it keeps disappearing on my desk.  Roll Eyes

User error!  Grin
26  Bitcoin / Mining / Re: Capital cost. on: July 07, 2011, 10:19:36 AM
I already had 1 desktop, so that kept my costs down.

Capital: ~$1100

M hashes: ~2000

One rig already had 1x 5830, just added a 2nd 5830 card @ $90.  Does about 580M hashes.

My 2nd rig I built from scratch.  It has 2x 5850's and 1x 5830 running off PCI-E 1x.  That rig cost me $600.  Does about 900M hashes

My 3rd rig my friend and I went 50/50 on.  It has 4x 5830's.  Cost us about $800, but we split the cost and hash rate.  So thats +$400 for about 550M hashes

In 2 months I paid for all hardware investment and put $600 in my pocket.
27  Bitcoin / Mining / Re: Deebit at almost 50% again? on: July 07, 2011, 10:04:38 AM
51% currently...  Huh
28  Bitcoin / Mining / Re: Worlds Most Economical Bitcoin Mining Contracts! on: July 02, 2011, 09:45:00 PM
Doesn't make economical sense to rent a mining rig even at his prices.

1Ghash for a little over $400 USD.  That will generate 0.66BTC a day @ the current difficulty level.

The next difficutly level will go up to about 1.6M or about 15% increase.  This will decrease profits to about 0.56 btc a day.

Lets be generous and assume a 10% difficulty increase every 10 days.

Say I bought a mining contract today, this is about how much at the most I can expect to make in a month:

1) Difficulty goes up to 1.6M in 4 days, so I'd make .66BTC @ 4 days = 2.64
2) 1.6M difficulty (.56 btc) x 10 days = 5.6
3) 1.76M difficulty (.5 btc) x 10 days = 5
4) 1.94M difficulty (.45 btc) x 6 days = 2.7

Total: 15.94 btc in 30 days.  Value according to current market prices: about 16 x 16 = $256 USD.  Net loss of about $150 per month.

Reason to buy a mining contract =  Huh
29  Bitcoin / Mining / Re: Market holding steady without Mt. Gox on: June 26, 2011, 08:18:29 AM
I'm looking forward to no fees @ mt gox for 1 month, because some of my transactions will be reversed because of the hacked account that lead to a crash.

Yes, that's going to be excellent. I'll hang around for that, at least Smiley


I'm sure once opened up again, we'll see LOTS of trading activity, especially from those with free trades for a month!
30  Bitcoin / Mining / Re: hey miners whats your price to dump a large ammout of BTC on market ? on: June 26, 2011, 08:14:15 AM
I'm no miner, but outside of arbitrage opportunities my start-to-sell price is 49.99

Ill sell for 49.98.

49.97 here.  Thx.
31  Bitcoin / Mining / Re: 6990's in stock here: on: June 25, 2011, 03:21:18 AM
Why do you post deals like this?  Are you trying to increase the difficulty level be encouraging new miners?

6990's are a terrible price / performance ratio card anyways.....
32  Bitcoin / Mining / Re: Market holding steady without Mt. Gox on: June 25, 2011, 03:20:12 AM
I'm looking forward to no fees @ mt gox for 1 month, because some of my transactions will be reversed because of the hacked account that lead to a crash.
33  Bitcoin / Mining / Re: Only 3 new blocks the last hour? The community is counting on you miners.... on: June 25, 2011, 03:18:28 AM
Did a transaction exactly an hour ago and it's at only 3/unconfirmed.
Only 3 new blocks the last hour? The community is counting on you miners to do better tonight.

I think it can take several hours even before your transaction is included in a block.

I've recently had a transactions take 12 hours to get like 6 confirmations....
34  Bitcoin / Mining / Re: How many liquid-cooled 6990s can a 1500W PSU push? on: June 25, 2011, 03:17:07 AM
Stop loving mining... It will take you a LONG LONG LONG time to pay back a 3x or 4x 6990 water cooled rig.  Those cards are EXPENSIVE.

Take a look at the current difficulty level... over 1.3M...
35  Bitcoin / Mining / Re: Market holding steady without Mt. Gox on: June 25, 2011, 01:38:06 AM
Compare tradhills volume with Mt gox.  Mt gox was doing 30K minimum per day and 200-300K on a very active day.

Tradehill is at like 7k for the day... their most active day.  Trade hill is still tiny in comparison.

I think people are anticipating that when Mt gox opens, trading will begin @ 17.5, so thats where the price is headed at trade hill.
36  Bitcoin / Mining / Re: Mt Gox account recovery page finally up! on: June 22, 2011, 08:57:32 AM
Old news... its been up for the whole day so far......  Huh
37  Bitcoin / Mining / Re: 51% difficulty increase in 3 days on: June 22, 2011, 08:55:27 AM
Yea totally not cool.  I'm shocked that the network is growing at this rate considering the drop in coin prices + mt gox has been down.......  INSANE!
38  Bitcoin / Bitcoin Discussion / Re: 500 Ghash/s cracked bitcoin miner responsible for huge increase of Thash/s ? on: June 22, 2011, 08:53:49 AM
The video is horse shit!  Please report the video to youtube (already flagged it) so they can take it down!
39  Bitcoin / Mining / Re: 6 blocks an hour my ass! on: June 22, 2011, 08:51:04 AM
fair enough. I keep hearing '6 blocks an hour' like that number is hard-coded into the system.

6 blocks an hour is how the network adjusts the difficulty level.  More than 6 blocks in an hour and the difficulty level will go up, less than 6 blocks and it will go down.

Currently we are at 10.88 blocks an hour average!  Get ready for a huge difficulty level increase to ~1.3M!
40  Economy / Economics / Re: MtGox claim site online on: June 21, 2011, 09:45:11 PM
Mt gox websites are not loading.......  Huh
Pages: « 1 [2] 3 4 5 6 7 8 9 »
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!