You really think it will increase so rapidly, that even with GPUs doubling in performance every 12 months, we still couldn't turn a profit?

I mean, heck, even with twice the revenue to overhead, it's still worth it on some scale.

And why is this? Because hardware keeps getting more powerful?

If so, that would still work well, since you could buy a new graphics card when it's released, then sell it for 75% of its original price when its successor comes out, and have little down time.

Anyone think it's still worth it?

I want to see someone who's actually doing what I plan on doing, with at least 8 GPUs.

So, now it's 40% less than before?

How much lower is it going to get?

I was under the impression that there was a static amount of bitcoins.

EDIT: This is crazy! In a week, it will be worth 50% as much as my original calculations..

I mean, it's still over 2,000$ a months from essentially doing nothing, but still.. why this decline?

I stumbled upon an article on Bitcoin today, and did some calculations.

Apparently, each Bitcoin is worth 17.5$.

Mining for Bitcoins is done in Mhash/s, and every 46 are worth 1$,

Which means that 800 Mhash/s (for one day) are worth 1 Bitcoin (or 17.5$).

As an example, an HD 6990 manages just around 800 Mhash/s, with a 400w peak power consumption.

Now the price of electricity ranges from 6 cents for a Kw/h to 18 cents, so let's take a median-high - 15 cents.

That's 400w x 24 = 9,600w / 1,000 = 9.6Kw/h x 15 cents = 144 cents = 1.44$.

Which equates to a Profit of 17.5$ - 1.5$ = 16$ per day, or 112$ per week, or 450$ per month.

Now you can scale that essentially up to any number (I assume).

Say you own two rigs with 8 HD 6990s, considering that the rest of the components run at idle.

That's 8 x 900 (overclocked) = 7,200 Mhash/s, with a typical power consumption of 2,400w-3,200w (let's say 2,800w).

That's 2800w x 24 = 67,200w / 1,000 = 67.2Kw/h x 15 cents = 1008 cents = 10$.

Now for the profit. 7,200 Mhash/s / 800 = 9 Bitcoins = 157.5$ - 10$ = 147.5$, or 1,032$ per week, or 4,130$ per month, and 50,000$ per year.

So now I'm going to wait for someone to poke a hole in my plan to make 50,000$ a year without doing any more work than simple maintenance and upkeep, minus original funds for purchasing the components.

Again, this is just something I found interesting as I love calculations