The comparison is faulty because AM is a company and the other alternatives are hardware.
Why is that relevant, you ask? Well, AM will (hopefully) continuously renew itself and its strategy in order to keep earnings high, whereas the hardware simply gets outdated and earns progressively less and less as time goes along. So: buying hardware may earn you more in the short term, shares in AM may earn you more in the long term.
Comparison is NOT faulty. It is a comparison of "investment" (whether in hardware or a company) and "return" (whether mined bitcoins or dividends paid out as bitcoins). I think most people will agree that the value of hardware (GPU or ASICs) will generally depreciate over time, so that is a "known." The big unknown is AM, which as you point out is a company. We hope they will continuously renew itself, but anything can happen. |
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wrong a hd7790 cost 1btc generates 300MHs
WTF? I didn't even mention a 7790, so how can I be wrong? |
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If you do a "cost analysis" in terms of purchase price vs revenue generated, then:
ASSUMPTIONS
- do not factor in electricity costs
- BTC exchange at today's rate of $120 USD/BTC
- network difficulty on average increases 10% every 2 weeks, thereby reducing revenue by about 10% every 2 weeks
GPU
- AMD 7970 at stock speeds provides 650 MH/s
- Cost $400 USD or 3.33 BTC
- Generates 0.0209 BTC/day at today's difficulty
- After one year of continuous mining total BTC generated = 2.74 BTC
- LOSS OF 0.60 BTC
USB Block Erupter
- 333 MH/s
- Cost 1.99 BTC
- Generates 0.0107 BTC/day at today's difficulty
- After one year of continuous mining total BTC generated = 1.40 BTC
- LOSS OF 0.59 BTC
BFL Jalapeno
- 5000 MH/s
- Cost $274 USD = 2.28 BTC
- Generates 0.1611 BTC/day at today's difficulty
- After one year of continuous mining total BTC generated = 21.1 BTC if you start mining today!
- If you receive your unit and start mining 6 months from now
- Generates 0.0454 BTC/day
- After one year from that point, total BTC generated = 5.945 BTC
AM-PT SHARE
- Currently about 2.5 BTC/share at BTC-TC
- Recently generated 0.038 BTC/week in dividends (this was the highest dividend ever)
- After one year of dividends at this rate = 1.98 BTC
- LOSS OF 0.52 BTC
In other words, if you purchase any of the above items in the hopes of "earning back" your cost, you won't (with exception of BFL units). Of course this does not include the fact that you can sell your 7970 GPU in the future (but a year from now how much would it be worth? maybe $100?). Others would say you cannot sell the USB Block Erupter after a year because it is a uni-tasker without any other purpose. The BFL units are reasonably priced. Problem is they are not shipping in bulk, so a delay in shipment leads to large loss in profit. Finally, you can sell your AM-PT share too, and it is very difficult to predict what the sell price would be at that time.
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Woot! Spoiled by CITM's efficiency with GB #2. Any updates for GB #4?  |
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The h/w errors are kinda high. What is your longer run average of "hw/(accepted+ rejected)"?
Been running for about 10 hrs now, got: A: 2792 R: 0 HW: 26 So about 1% HW errors. I have a USB fan pointed at the device. It is warm to touch, but bearable. Using a infrared thermometer, it reads about 92F at the hottest spot. Ambient temp is about 75F. |
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what is your hw error rate? i get ~ 4,7 per hour
About the same. |
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Received my unit today. Packed very well, fast ship. CITM is da bomb!
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My concern is that whoever owns the 50btc forum account has logged on, but has not posted anything this month. It would be reassuring to have some communication from the pool ops. It's almost as if they don't care about their users.
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Hoping people don't have to RMA these puppies and that they last a long time. Although I understand there is a lifetime warranty on the board, it would be a PITA to ship back to China!
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I support 2FA and think it's a great concept. AFAIK BTC-TC, CampBX, and 50BTC all use it. Probably other sites do too. Gives me some peace of mind!
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+1 Worth every satoshi paid! lol  |
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LOL! But I'm depressed. Total network hash rate has shot through the roof the past 1-2 weeks. I believe the next difficulty increase is going to be up 25%-33%!!
My lonely 333 MH/s erupter is going to be pitiful lol!
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Danke! Tak! Merci! I'll post back once the USB erupter arrives.
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Ok, I'm a relative neophyte regarding ASICs. Up to this point have been mining on GPUs. So I need a bit of hand-holding step-by-step here I'm getting a USB block erupter and if I want to mine with BFGMiner under Win7 x64 , to my knowledge this is what I need to do: 1. install SiLabs VCP driver 2. run bfgminer -S all [mining pool parameters] Questions: 1. do I need WinUSB driver too (and zadig to install it)? 2. how to I specify specific com ports (-S 1 for COM1 or is it -S COM1)? Thanks! |
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GuiltySpark343 - I'm really glad there are users like you around to provide a healthy dose of skepticism. The community is really lucky to have users like you who go to the length of looking at posting history and investigating someone's claims. As someone who is often at the buying end, it's greatly appreciated I was a bit surprised myself with all of the orders I was receiving with such low feedback - while I've been told I have a trusting face, I wasn't quite sure you all could see it! *places masking tape over webcam* Thanks for the explanation and the new pics! Not trying to be a troll, just wanted to trust-but-verify. Good luck with your sales! |
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Thanks CITM! Can't wait to receive mine. If you mailed it USPS Priority today, I should get it by end of week latest. Keeping fingers crossed! Once I get it, I'm sure the next thing will be screaming at it, trying to get it to work properly!
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I ran some numbers assuming difficulty increases by 10% every 2 weeks, which roughly translates into profit declines by 10% every 2 weeks.
Given these parameters (and not counting USB hub, fans, electricity), if you bought a USB Erupter for 1.99 BTC and started mining right at the start of the last difficulty increase, in about 1 year of constant mining that miner would have made 1.807 BTC (ie. you would still be behind by 0.183 BTC).
End of week # Daily BTC 2 week total Running Total
2 0.0138 0.1932 0.1932
4 0.0124 0.1739 0.3671
6 0.0112 0.1565 0.5236
8 0.0101 0.1408 0.6644
10 0.0091 0.1268 0.7912
12 0.0081 0.1141 0.9053
14 0.0073 0.1027 1.0079
16 0.0066 0.0924 1.1003
18 0.0059 0.0832 1.1835
20 0.0053 0.0748 1.2584
22 0.0048 0.0674 1.3257
24 0.0043 0.0606 1.3863
26 0.0039 0.0546 1.4409
28 0.0035 0.0491 1.4900
30 0.0032 0.0442 1.5342
32 0.0028 0.0398 1.5740
34 0.0026 0.0358 1.6098
36 0.0023 0.0322 1.6420
38 0.0021 0.0290 1.6710
40 0.0019 0.0261 1.6971
42 0.0017 0.0235 1.7206
44 0.0015 0.0211 1.7417
46 0.0014 0.0190 1.7608
48 0.0012 0.0171 1.7779
50 0.0011 0.0154 1.7933
52 0.0010 0.0139 1.8072
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Could you please confirm if sent PMs / signatures were validated? OP could have the nice table design groups #1 and #4 got now  +1 Hopefully CITM gets them from DHL tomorrow (Monday)!!!! |
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