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5661  Other / Beginners & Help / Re: POLL: What's the *real* reason you ever got into Bitcoins? on: July 17, 2011, 01:58:33 AM
Just feel it is BIG. It brings a lot of potentials that only time will tell.

I had a feeling this will become the open source community currency. Open source community really need their own currency to encourage and evaluate different efforts among members.

If the deflation tendency of bitcoin can be avoid, for example keep 5% money supply growth every year, this could even become the world currency standard benchmark! Roll Eyes
5662  Other / Beginners & Help / Re: Mining - is it really worth the effort? on: July 17, 2011, 01:48:57 AM
Actually I will check up amd's stock and buy it when I collect second hand cards at mean time
5663  Other / Beginners & Help / Re: Mining - is it really worth the effort? on: July 16, 2011, 05:08:32 PM
At the place that I live in, 0.3$/kwh (so called green energy) el price makes any solution less than 300MH/S a loss

Currently I'm testing with my old GTX295 (90MH/s). After one day, I cashed in 0.03 BTC, which is only 1/3 of the electricity cost.

I think at least 2 AMD 300MH/S cards are required to be profitable
5664  Other / Beginners & Help / Re: Mining - is it really worth the effort? on: July 16, 2011, 12:10:32 PM
Given the deflation nature of bitcoin, the payout will be less and less after each month, this seems like a racing between GPU makers and bitcoin internal deflation speed
5665  Other / Beginners & Help / Re: Mining - is it really worth the effort? on: July 16, 2011, 12:08:22 AM
Using that calculator , with the current difficulty 1560000, 300mh/s performance, 0.15$/kwh on a 300w machine, I get barely 48 USD each month, and this number will decrease with rising difficulty, did I miss something?
5666  Other / Beginners & Help / Re: Mining - is it really worth the effort? on: July 15, 2011, 06:24:59 PM
Quote from: xunker on July 15, 2011, 06:13:21 PM
Quote from: johnyj on July 15, 2011, 05:38:23 PM
Given the time and electricity cost, only those very high end card can generate a profit

It all depends on timeframe and investment.

As long as the kWH/BTC is less than the tradable price of BTC then it is profitable depending on how patient you are.

I started mining about 5 weeks ago, I bought a new midrange card for it.  I have now just about broken even on that card with regard to the BTC I've generated.  No, I can't quit my job, but it does effectively reduce the cost of the new card (that I can then use for games) to zero, assuming I cash in my BTC for "real money". Technically I have "profited".

"Profit" is relative.  With regard to BTC a huge pitfall people hit is that PROFITABLE has to mean I CAN LIVE OFF THE MONEY GENERATED.  That's simply not going to realistic and, frankly, trying to achieve that is reckless.  True, some people do that, but some people also win the lottery, and spending your paycheck on lottery tickets is never considered a stable form of income.

If you are mining BTC for a quick large payout, look elsewhere, this is not for you.

Do you include the electricity cost that involved?
5667  Other / Beginners & Help / Mining - is it really worth the effort? on: July 15, 2011, 05:38:23 PM
Given the time and electricity cost, only those very high end card can generate a profit

http://bitcoinx.com/profit/index.php
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