yes.. last withdrawal for me took 12 days.
 

^^ This ^^

Together they could make processing transactions based on fees alone possible, and potentially profitable.

http://www.sfgate.com/business/prweb/article/BitPay-Shatters-Record-for-Bitcoin-Payment-3663354.php

According to that article, Butterfly took >$250,000 in prepayments for ASIC's. I suspect we're looking at difficulty D-day assuming they deliver. Assuming they sold mostly "singles", that's  192 of them. 192 x 40Ghash = 7,680 Ghash... I can't guess for removal of old hardware, but that's a 50% increase in network wide-hash rate.

And I would guess there's at least that much waiting in the wings to see if BFL actually ships... So at least 2x the difficulty well before the reward drop doesn't seem out of the realm of possibility.

<btw, outstanding writeup nedbert9..>

Right you are.

daily power cost = ((wattage at socket * 24) / 1000 ) * kw/h rates

((1500W * 24) / 1000) * 0.11) = $3.96/day = $118.80 for 30 days.

You're right.. I tend to round down, since, so does life, at least to me.

To be exact, 95% of 1.7477 is 1.660 BTC per day, not 1.5.

1.660 x 165 days = 273.95 btc

0.60 x 165 days = 99 btc for power

Still leaving you will 174.95 BTC over the period, or $1137.18 @ $6.50 per BTC.

Not hardware worth paying even $1200 for if you're trying to make money off the purchase from coin earned alone.

Right you are..  but that's yet another unpredictable in this equation. If you're trying to decide "should I spend any more $$/btc on GPU mining" one should try to work with known factors. >100% PPS pools are nifty, mostly profitable, and ... volatile?

I apologize if it seems that way... math is math is math.

FPGA's are here, ASIC's are coming.. it's a new day.

The GPU had a good run, but it's almost over. Either mine the heck out of your GPU's, which likely already paid for themselves, or sell them for a price that reflects their new value... but their new value is not equal to FPGA's....

According to BitcoinX calc, 3000 mhash at present difficulty is indeed 1.7477 BTC a day. However, that assumes non-PPS mining. PPS mining takes anywhere from 3% - 10% off the top depending on where you mine  PPS mining, downtimes, ddos, etc, and I think 1.5 btc a day is a more realistic expectation to average over that time period.



Sorry mate, your power calc is way off.

power cost = ((wattage at socket * 24) / 1000 ) * kw/h rates

3000 Mhash of GPU will run you somewhere around 1500W at the socket, depending on whether you split it across 1 machine or more. 1500W at the socket, at $0.11/kw/hr is about $4 USD per day (not counting service delivery fees) .

((1500W * 24) / 1000) * 0.11) = $3.96/day, or about 0.6BTC a day, is 100BTC over the 165 remaining days.



Using your #'s for production (which I think are high) and your numbers for power (which are also a bit high) it translates into 286 btc minus 100btc for power, or 186 BTC.... 186 BTC x $6.50 = $1209. (which is worse than the initial #'s I posted)

You are correct.. I'm not saying they are completely worthless.. I am saying they're not worth more than $0.61/mhash, best case, and really more like $0.30/mhash...

Disclaimer: I say this as someone who has many many Ghash in AMD GPU's...... I'm in the same boat if I ever try to sell my cards..

In my humble opinion, when people put mining hardware up for sale, they need to understand both their audience, and some reality about old hardware.

1. Sellers/Buyers : People here are going to buy for the investment value. Buyers looking at the potential earning of the hardware between now and December. No one is speculating further than past both the reward drop, and the potential next-generation hardware (asic/minirigs/etc)... there's no magic 8-ball. If a buyer can't make money on the hardware between now and December 1st, it's not worth buying. (Whether or not you believe BFL can deliver a 40Ghash box for $1300, you have to factor in the possibility they might be telling the truth... 40Ghash boxes for $1300 mean ebay flooded with worn out GPU's... and if 1Thash boxes come online in October, difficulty increases will stop GPU mining WELL before the reward drop..)

2. Cards : When you're listing 58xx cards, you're talking about 3-4 year old GPU hardware.. and not just 3-4 year old cards, but cards that have endured 10-years worth of GPU load in the 3-4 years they've been alive.... rode hard, put away wet... and likely zero warranty. Speaking also as a gamer, no gamer is going to buy a 5830/5850/5870 or even a 5970 when the 78xx/79xx series cards are, here, warrantied, lower power, lower heat, and, faster at games.

If you're selling 3Ghash worth of a mining hardware, and you're asking $3000, you're dreaming...

• 3 G/hash nets you approximate 1.5btc per day.. there are around 165 days left till the drop.. That's 247 btc, before power..
• Most people are going to spent at least $2 a day (or .3 btc) to power that 3ghash, which eats out 50-ish BTC from that 247 btc.. (That's cheap power btw)
• .. leaving you with around 200 btc... at $6.5 that's $1300 best case
• the person buying the hardware doesn't want to break even, they want to make money.. so that box isn't worth $1300, it's worth what ever amount less than the risk the person wants to take. $1000 maybe?

The MiniRig, which is now a shipping product, has a $0.61/M/hash upfront cost, with a fraction of the power cost (Approx 16kw in GPU's for 25Ghash vs 1400w for a Mini-rig.).. Are you really saying your hardware is worth more $ per M/hash than a Minirig?


If you have hardware up for sale right now, please don't take this personally.. but take a moment to think...This is the reality of the now..

beautiful rigs... well done!

It does... I have (3) of those boards with FX-8100's in them, working fine.. Upgrade to the latest bios, and off you run.

The problem is the definition of "free". Anything less than a bitcent (0.01) per transaction is "free" and subject to being ignored?

When we DO get to the point where the network -can- confirm high-paying/priority transactions in fractions of a second, then something DSCP-like based on fees can occur. Right now we're not big enough to declare second hand citizens.

In my humble opinion, that policy is harming both the network, and the miners by creating artificial congestion and delay.

please check out this TX - seems stuck : 5698d78fecc195af9e8d9ff6c53a3a5f1e84c32222c0d2692f804478939a1d20

http://www.satoshidice.com/lookup.php?tx=5698d78fecc195af9e8d9ff6c53a3a5f1e84c32222c0d2692f804478939a1d20

^^

buy this guys' stuff.. not only is Jezzz a great guy, those are smart builds with good hardware.

seems gone now..

They seem to be using a % fee.. bigger transactions take bigger fees.  This bet  as an example.. 0.01 on the bet, > 1btc on the payout.

Congrats!

At this point it's going to be a LOT of blocks before you're caught up.

Thank you EclipseMC and OzCoin...

lots and lots of unconfirmed... something -stopped- about 5:30 EST.

Block had a lot of transactions in it, then... little:

http://www.blockchain.info/block-index/236637/000000000000066930aefb95e7ff55034ceabb569a7e5aca1257fa3920933f84