Bitcoin Forum
December 03, 2022, 06:27:46 AM *
News: Reminder: do not keep your money in online accounts
  Home Help Search Login Register More  
  Show Posts
Pages: [1]
1  Bitcoin / Mining / Re: How much does it cost YOU to produce a bitcoin? on: July 11, 2011, 03:04:57 PM
Power consumption and 2 year linear depreciation on cards, $8.92 / BTC

what % will be worth your card in 2 years ?  Zero ?

Yes, that is the assumption.  Actually I do a quick depreciation to %65, then linear depreciate to 0%.  

I do consider 2 years to be conservative, but not without a realistic basis.  If a card craps out at month 16, my depreciation cost estimate would instantly become 33% too low.  Also I'm unsure how far factors such as ASIC development and a flood of GPUs into the market following a confidence crash could lower GPU prices.
2  Bitcoin / Mining / Re: Mining will always be barely profitable on: July 11, 2011, 02:56:28 PM
My point is, after you've bought the hardware, the incentive to "get out" is low.  Maybe people running several multi card rigs will cut back, but the "hobbyist" miner like myself is here to stay.

Now, the incentive for new people to get in DOES get lower as the difficulty gets higher.  Why spend hundreds on hardware that will never get paid back?

This.  Ignoring future price speculation, there are really three stages of profitability for each person out there -
1) BTC price is much lower than electricity costs.  Correct move is to sell their hardware.
2) BTC price is above electricity costs, below the level required to pay back the cost of hardware.  Possible moves are to sell hardware, or to mine and hope for the price appreciation.  Correct move is to NOT buy new hardware.
3) BTC is above both electricity and hardware costs.  Correct move is to buy new hardware.

The point is that when price-difficulty relationship reaches stage 2) for a person, they will no longer be considering new hardware purchases - so they will not increase the difficulty.  Stages 1) and 3) are obvious, the difficulty would shrink and grow, respectively.  But 2) is the interesting case, since it could allow us to hit a stable point that is not profitable in the near term.
3  Bitcoin / Mining / Re: How much does it cost YOU to produce a bitcoin? on: July 11, 2011, 02:18:40 PM
Power consumption and 2 year linear depreciation on cards, $8.92 / BTC
4  Bitcoin / Bitcoin Discussion / Re: I am giving away bitcoins! FOR FREE!! on: July 09, 2011, 10:13:39 PM
Pretty sure the invite for free bitcoins isn't for us - he's evangelizing to his friends/family.

I'm guessing he's posting on here more to see if he can get other people on here to do the same thing... maybe?
5  Bitcoin / Mining / Re: Here is a chart of the history of bicoin mining profitability. on: July 09, 2011, 07:20:49 PM

nice chart. There should ne a correlation to how much it has cost in USD to have that much mh/s.
In the days before the gpu miners this surely would have been quite expensive.

This is the right idea.  Any chart like this has to be standardized to one particular setup - and therefore a particular hardware depreciation rate and MH/Watt.  Also, as mentioned above, there have been "epochs" where the available processing tech has changed, so back-dating across multiple epochs is tricky.  Within epochs, there is still movement too, just not as jumpy.
6  Bitcoin / Mining software (miners) / Re: Flexible mining proxy on: June 23, 2011, 04:34:39 PM
Also, please add rejected per hour and efficiency.
Another user has a nearly-ready patch that adds a lot of this information.
I misread you the first time -- the rejected-per-hour stats are there, but efficiency is not.  How do you define efficiency, and how would you compute it?

Based on context, I think he's referring to a % good/stale shares stat.  So (#good shares) / (#good + #stale shares).  Any better efficiency metric would require you to load the current difficulty...
7  Other / Beginners & Help / Re: Non-connected Wallet on: June 21, 2011, 08:27:26 PM
Wouldn't I only need to connect it if I wanted to transfer funds from the wallet? I mean if the wallet's not connected the funds won't show up, but the addresses in it will still be connected to the btcn right? that's what I'm concerned about.

You've got it right.  Here are a few related threads confirming it :

Really easy to check your balance, just go to the main blockexplorer page and put one of the addresses you've generated into it.  It will look up all transactions related to that account.  Try it with your current wallet.
8  Other / Beginners & Help / Re: Non-connected Wallet on: June 21, 2011, 08:18:53 PM
You will need to have your wallet connected to the internet in order to transfer funds to it. The safest way I can think of at the moment is to have a separate machine preferably running Linux and having a switch on it that allows your to give it Internet or not. I would turn on the switch when sending money to the wallet and than turn it off once the transfer is done.

You'd have to be connected to send *from* it.  But to send to it?  Nope.

Also, you can use blockexplorer to check what the block chain thinks your account balance is.  Should be an easy way to check your balance while keeping your wallet "virgin".
9  Other / Beginners & Help / Re: Non-connected Wallet on: June 21, 2011, 08:15:42 PM
That should definitely work.
10  Other / Beginners & Help / Re: How much power would i be using? on: June 21, 2011, 06:52:42 PM
Salain... Ok so lets think about this... If you have a power supply that puts out 850 Watts Max right... You still with me? And one video card = 25 amps...and we known ohms law thats been around for hundred of years is ..... to determine the amount of watts a device uses is. Watts = volts x amps

You still with me Bra...? 120volts x 25 amp = 3000 Watts = Salain is an idiot !  Go on Newegg and find me a powersupply that puts out 3000 watts and maybe will have a valid argument. " What a LAMA"

And there I was, trying to keep it constructive.  It's your loss - there is a lot I could teach you if you weren't so afraid of being wrong that you're not willing to listen.
11  Other / Beginners & Help / Re: How much power would i be using? on: June 21, 2011, 05:41:51 PM

But also take into consideration.... you arent using the full 850 watts. Watts = Volts x amps

Ohms Law

If you are in the US Volts is 120 on standard outlet

With the Amps i gave you.. At full load you are using 648 watts.

So you are looking at $43.55 per month.

The AC voltage at the wall doesn't matter, your computer's power supply converts that into lower voltage DC.  As far as I know, a 12V rail supplies a lot of the power to a video card.  So a good graphics card would probably pull over 25Amps at 12V DC.  At the end of the day, that isn't something you need to worry about since computer equipment manufacturers report the maximum Wattage requirements to you.  Those computer parts can then be paired with a power supply which is also simplified to watts in the "big label" literature.  If you're building a computer it is good to know the amperage at each voltage, but it isn't a necessary consideration for this discussion.
12  Other / Beginners & Help / Re: Whitelist Requests (Want out of here?) on: June 21, 2011, 05:20:14 PM
Sitting at about 1 hour of logged in time, would like to be allowed into the wider world of forums so that I can report/discuss an error I'm getting using the flexible mining proxy.  More specifically, I'm running a windows machine with VC9 compiled apache 2.2 and PHP5.3.  When I turn error reporting on it shows a a "cannot convert to string" error in the MVC class cdhowie provided with the build.

I've helped out a bit in the newbie forums already.  Thanks for your time.
13  Other / Beginners & Help / Re: MTGOX Almost Back up on: June 21, 2011, 05:07:29 PM
I was also able to submit the form and 3 forms of proof without problem.  Pretty thorough... wonder to what extent they will be evaluating them by hand.
14  Other / Beginners & Help / Re: A 6950/phoenix problem on: June 21, 2011, 04:55:19 PM
You may also consider moving off of the VGA port, if possible.  I had some success reducing artifacts by moving to HDMI.
15  Other / Beginners & Help / Re: Once the Exchange opens...What are you going to do? on: June 21, 2011, 04:52:06 PM
Right now we are seeing sellers on Tradehill hang in there trying to get $13-$15.  Once Mt. Gox opens, we're going to see a rush to Tradehill and vigorous selling will commence.  I think we'll settle around $7-$8 after the dust has settled.
I wonder who is buying right now at ~$14? It's not like the sell orders are just sitting, they're being fulfilled. If anyone wants to snap up cheap coins, just wait until Mt.Gox opens back up. So why buy now?

I've been wondering this as well, but we have to keep in mind many bitcoin holders are more versed in technology than investing.  

Really?  There will be a 24 hour notice period before MtGox's exchange opens, so everyone should be able to redo their buy/sell orders before trading recommences.  Since the old orders won't be extant, why would there be "cheap coins" available?

I think the current tradehill price is reflective of the current market price if mtgox was still open.
16  Other / Beginners & Help / Re: How much power would i be using? on: June 21, 2011, 04:46:43 PM
.10 cents per amp. each video card uses 2.4 amps. So so 4.8 just on the video cards and maybe anoher 1amp on the PC itself. So figure 5.8 amps.

5.8 amps. so 5.8 x .10 = .58 cents per day. =17.40 cents per month.

Electricity use is charged in watts (includes the voltage the amps are pushed at), not amps.  You'd be using maybe 650W, or 0.65kWatts per hour.  That's about 468kWhour per month, at 13 cents a watt that would be $60.84 per month.  Probably a conservative guess on the high side.
17  Other / Beginners & Help / Re: NEWBS WANTED on: June 21, 2011, 12:16:41 AM
Bitcoin already has a nice lottery feature built in : solo mining.
18  Other / Beginners & Help / Re: Introduce yourself :) on: June 20, 2011, 11:45:01 PM
Just a quick hello/first post.  Looking forward to seeing where bitcoins go.
Pages: [1]
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!