Well, lets all agree now then.  When the BTC price hits $120, everyone go buy something nice!

I live at home, so technically my power costs are 0.  But, I get power for 0.08$ a kwh, and my computer uses 350 watts. So, 0.35kw*24hours*0.08$ = 0.67$ of power per day.  I haven't checked out my rig with a killawatt, I've just estimated the 350 watts, seeing as the GPU takes 100 watts running at 100%

EDIT:: You may ask where I get 0.08$ for power.... Canada!
EDIT EDIT:: I ran these initial calculations with the coin price at 120$... So I guess once I get below 0.007 BTC/day its not worth the power...
EDIT EDIT EDIT:: Also, you can run a Jalapeno off of a Rasberry Pi... So that power consumption is tiny, less then 50 watts, which for me is less then 0.10$ a day for power.  I'm waiting to see if BFL ever ships, and once they start catching up with orders, and as long as the difficulty is less then 200 million by then, I'm buying a Jalapeno to continue my small mining efforts.

@Mooc

I don't see the ASIC's kicking everyone out of the market yet.  When I started mining, the difficulty was about 10 million, and with my dinky little GPU (6870) I could make 0.0167 coins per day.  Now, with the difficulty spikes, I'm down to 0.0072 coins per day (once its below 0.006, its not worth the power...)

So, if we look at all the ASICs coming out, there is about 900 Terahashes of hardware being built.  The difficulty before ASICs was about 100 Terahashes, perhaps lower.  So, Once the ASICs are all out, we'll be sitting at 1000 terahashes (A whole petahash!).  10x network increase gives a 10x difficulty increase.

Say you get a little Jalapeno (300$, similar to my 6870 being ~300$), with the 10x difficulty, that jalapeno will make about 0.02 BTC per day.  That's pretty much equivalent to the current GPU standard...

I don't believe that the massive difficulty spikes will continue forever, I think they will just continue until all the ASIC preorders are filled, then they will level off, and it will be back to the ~10% difficulty jumps.  And that will bring us back to where we are with GPUs.

TL,DR, ASICs coming out are not impending doom, it's just the next step from GPUs.  It should be equally profitable to continue in the future.

I've been looking at lots of difficulty speculations, and seeing how people are predicting massive increases, and I don't think that it is logical.  So I vote that we see what hardware is coming, see what network hashing power will be, and base our predictions on that.

I think that we are currently in a huge difficulty spike, only because the ASICs are brand new and they are boosting the network.  However, this boost won't last.  I predict that the huge difficulty jumps (30-40% per increase) will continue as long as the new ASICs are shipping, but once they are out the network will settle back down to the regular ~10% increase per block, after the huge hype of "OMG ASICS" dies down and the network restabilizes.  So, lets try to predict what we will get to, based on the ASIC companies.


Lots of these are guesses, so I vote that we work together here and see what we can come up with, based on the hardware, not just running numbers and exponential difficulty charts.

I'll start with BFL.  According to http://bfl.ptz.ro/, BFL has 392 terahashes that are ordered, and they claim (though we all know how good BFL claims are) that they will catch up with all their orders within 90 days.  That brings us to mid september, so lets add 400 Thashes to the network in Sept and see what the difficulty will be.  

The current hashrate is 144 Thashes, add 400 brings us to 544, which is a 3.78x increase.  So, increase the difficulty by 3.78, and we have a predicted difficulty mid september of  71.5 million.

Help me out here guys, lets get some real numbers being run!  I'll continue research and post as I get it.

And to remember all that, just remember

"Every pretty terrific girl must keep happy down deep, certain males might not prefer females anyways"

0.5 BTC? 50$ bribes?  I think 0.1 would be reasonable.

I saw this in another thread, and think that its a great idea.  I forget which, so I'm making a new thread.  I searched, but all the old threads talking about this were in 2011, and I didn't want to be a necromancer.  Though, if you like, you can delete and move this thread if it's in the wrong spot.

Anyways, I think that we should all email wikipedia and suggest to them to accept Bitcoins as a donation method.  I sent them an email, and got this in reply "Thanks for your email and for your suggestion. We are aware of bitcoin, and we will continue to monitor it with interest. Thanks again for taking the time to email us."

I think that if enough of us were to send emails, it would give them the pressure needed to do so.  Also, someone who knows whats what should also offer to help them implement such a system.

 problemsdonating@wikimedia.org Send away!  It takes less then 30 seconds, and could be a huge help.

I'm trying to think of ways to have Bitcoin keep its value, instead of always fluctuating up and down.  As far as I know, it rises because lots of people buy coins, and once it hits a certain point, someone decides to sell a large amount, so the price drops a little bit, causing everyone else to sell, dropping the price lots.  It falls down, until it hits a low enough value that people wish to "buy back in", and then the price begins to rise again, and the cycle repeats.

My idea is that instead of waiting for the price to rise to sell coins, wait for the price to rise to buy something with coins.  Go to coingig, or bitcoinstore, and find an item that you want, and tell yourself "When Bitcoin hits 120$ (or any price), I'm going to buy this item instead of selling to an exchange.".

I think that this would help keep the price stable, as well as distribute the coins more, instead of keeping them all locked up in an exchange.

EDIT::  My knowledge of economics is minimal, so I could be way off.

I have like 4 NMC....  Would you give 0.01 BTC per NMC? That's my opening offer.

BTC-E is good, it's what I use.  I was having a little trouble today withdrawing my funds, but I was just missing the email confirmation (and it took 4 tries for the email to appear....)
They also have lots of alt coins there, if that's your thing

Yeah, you gotta click around.  It seems like it only gives you 5 mins if you click something then leave.  Gotta keep browsing!

3:49, almost there!

Namecoins still confuse me...  You use them as domain names?

Watch our for scary alt-coins!

I do believe so!  Thank you kind sir!

I saw an excellent link in a post here the other day, yet I cannot find it.  It was a link to a page that had all the orders to Butterfly labs.  It wasn't massive lists, it was just a small (half page) thing that said "total singles orders, totale jalapenos..." as well as hash rates, and total power about to be added to the network (it was 330 Thash/s if I remember correctly.

Anyone know it?

Thats a day's worth of mining for me!

12KU4RxjbYsVNfG5rXUYEtpykjHHkhGePF

Looks pretty hilarious.

Sharing is caring, and you're the best.

1AYKLkB352f7KWyj7BKZBRNZrx2wnEhs48

I see you play LoL, add me Smeeves and we will stomp some noobs

I guess I'll enter if you're still going with this.

Good on you for sharing coins

12KU4RxjbYsVNfG5rXUYEtpykjHHkhGePF

No over clocking, and the temp never goes over 70.  It seems to work now... It's been going for about 10 hours now without trouble.