This is the kind of pertinent information we need to make informed decisions.
Site looks decent, but its in bulgaria, and eastern europe isnt
know for its transparent and honest monetary dealings. 

yes, the market participants are emotionally exhausted.
This is an equilibrium price, the players have said "yeh ok thats good" to this range on both the buy and sell sides.
This happens to be the point between the launch point and the high.
Once rested they will return to the same type of volatility.   

-trader of many many years

bitwatch, I would tend to agree, next 2 days are critical. a big down day will ruin this price support. Late june is the worst time for silver.

Heres a revision of the math based on the new input...

COSTS:
Cost of average rig : $2875 - $239 /per month (4 x 6990 at 3000 mh/s.)
Electricity: $150/month
Overhead/rent: 1/10 of rent @ $600 month = $60 month
Time invested: 15 hours a month @ $20 an hour = $300 month

total investment: $749/month
Taking away the labor expense the total monthly expenses are $449/mo.

RATE:
bring in 5.5 bit coins a day X 30 = 165 per month
assume 10 usd /day
55 dollars x 30 days = 1650 bucks.
current rate : 18.25x165= $3011.25 month

at the current rate you need to discover  41.04 BTC per month to cover expenses including labor costs, or 24.602 to cover capital investment and overhead costs only. 
Profit per month= 14 BTC

estimated market value of one btc based on these figures- $749/55btc per mo. = 13.62USD
Price to increase with difficulty.

Good input.  This helps define some averages. Im trying to arrive at the value of BTC based on real inputs.
These new numbers will help. 

rent should be calculated as a percentage of space the operation takes up, Im guessing it might at most take up 10% of usable floor space. 
if average rent of say an apartment is $600/.10=$60, this is a real cost although "hey I have some spare room"  may apply.

I am trying to determine the real costs of mining bit coins.

Im looking for the average numbers across the country (USA). Id like to create a monthly cost of operation.
the factors below all have a price tag, here is my initial assessment, please correct me if these numbers seem wrong.

These numbers are for one rig.

Cost of average rig : $2875 - $239 /per month (is this about average?)
Electricity: $30/month
Overhead/rent: 1/10 of rent @ $600 month = $60 month
Time invested: 15 hours a month @ $20 an hour = $300 month (how many hours directly applied to rig set up, etc?, what is a reasonable wage, does this work?)
total investment: $629/month

Taking away the labor expense the total monthly expenses are $329/mo.

at the current rate you need to discover 33 BTC per month to cover expenses with labor costs.
or 17.31 to cover capital investment and overhead costs only. 

looking for confirmation or objections....

thanks

obviously Magictux is skilled, but I have to question;  is he skilled enough to withstand an entire world of hackers attacking the exchange that handles 90% of btc market?
The attacks I'm sure are constant.   Alot of faith in anonymous people goes with owning BTC!

I saw mentioned a user dedicating a non networked laptop for anything relating to BTC. Well worth the sacrifice of a laptop turned into a wallet.

Found this tidbit in the "BTC stolen" thread. Who else is just mildly interested in these goings on?  If MTGox has been hacked the entire BTC "economy" is at risk.
If this is given no serious inquiry, I think its time to close out mtgox accounts. How are normals going to overlook these issues in considering adoption of BTC?

http://forum.bitcoin.org/index.php?topic=16457.msg215164#msg215164

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Re: I just got hacked - any help is welcome!
June 13, 2011, 11:01:51 pm
   Reply with quote  #86
allinvain, you're not the only one.
Same hacker got to my mtgox account, he converted the USD i had to bitcoins and transfered them to the same address.

I'm not sure how he got in, if my pc is compromised or how this happened, i've been scanning and analyzing my pc for the past hours but nothing indicates a virus or whatever...
   

kwukduck,

if you indeed got hacked on mtgox we need more definitive information as to what happened. This is very serious for the whole bitcoin economy and other users of MTgox. 
Just based on your post I am stopping a USD transfer into MTgox.
Please elaborate on this rather serious matter.  What has MT gox said to you about this? NO communication? And of course there is no FDIC insurance.

 

wow, this is the last straw. Shutting MTGox account....Hacker currency isnt working out too well....whod have thunk it...

Yeh, and the non geeks are going to be able to get and use BTC.    Faith is quickly draining, except for the hackers stealing BTC. So amazing to me, is the general atheist, hard darwin belief most hackers and BTCs believers seem to espouse, and yet at the same time this naive belief in the goodness of humans and the "community".  REALLY Perplexing.

More and more crims showing up by the day, and the more the government associates BTC with silk road etc, the more crims will be alerted to the opportunities....

I wont say a price, but I will suggest that you have a supply of depends adult undergarments and your inhaler close by.

I see that youve been to silk road and found some crack to smoke. Not in the cards today my friend.

You guys are just realizing this?

Of course, there are going to be legions of troll armies of various factions trying to control this market, because there is no regulation.
It will easily be accomplished by buy/sell orders and bots, not to mention psy-ops. Cornering this market for a big player like say the russian mob is childs play because there is tiny float, and the liquidity is a joke.  All these realities are starting to sink in for the dreamers. When they start realizing that this currency is not functional as a currency (because of instability) is yet to be seen. 
Make no mistake this is a dangerous market, without supervision from big brother. So the bad children are having a field day and will continue. Trade accordingly.

DE%TH TO PAYPAL.  Financial dictators 
Id say even worse than uncle gorilla himself.

That is very nice my friend. Id like to talk to you about developing some real time charting apps.

The fact that this poll exists ensures that BTC will not see 100 (at least until everyone no longer believes it will happen)

Sounds good, only problem is that people arent spending BTC like dollars.
They are just hoarding them or trading them as an appreciating commodity.
The volatility of the BTC is something like 5000% more volatile than the Dollar and IMHO will not make BTC effective as a currency.
This dialogue has been going on in other threads, but no clear resolution to that one central issue.

Why is your "friend" in a hurry to sell his seemingly unlimited supply of precious BTCs?