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Author Topic: Hobbyist miners forced out today?  (Read 6499 times)
CbineUltra
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May 27, 2011, 06:01:21 AM
 #1

I know i was i imagine anyone else running in the 300 and under mhash range is done as well if they are paying for their power. It basically cut my daily profits in half. I wish others luck but i feel like you remove the hobbyist and small timers so early in its development you remove a lot of interest in the coins just how this works i guess.

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Nilarium
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May 27, 2011, 06:02:49 AM
 #2

network hashrate wouldnt change srsly because of ppl <300mhash

SomeoneWeird
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May 27, 2011, 06:03:15 AM
 #3

I know i was i imagine anyone else running in the 300 and under mhash range is done as well if they are paying for their power. It basically cut my daily profits in half. I wish others luck but i feel like you remove the hobbyist and small timers so early in its development you remove a lot of interest in the coins just how this works i guess.

Eh, Im only mining with 80mh/s, parents pay for power though, so any money earned is good money earned.
Jaime Frontero
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May 27, 2011, 06:03:41 AM
 #4

network hashrate wouldnt change srsly because of ppl <300mhash

oh?  show your data please.
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May 27, 2011, 06:03:54 AM
 #5

I know i was i imagine anyone else running in the 300 and under mhash range is done as well if they are paying for their power. It basically cut my daily profits in half. I wish others luck but i feel like you remove the hobbyist and small timers so early in its development you remove a lot of interest in the coins just how this works i guess.

Eh, Im only mining with 80mh/s, parents pay for power though, so any money earned is good money earned.

Until they find out. Then they will kill you.

15UFyv6kfWgq83Pp3yhXPr8rknv9m6581W
SgtSpike
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May 27, 2011, 06:04:57 AM
 #6

No.

300MH/s = .67BTC/day
= $5.70/day
= $171/month

And anyone with that kind of MH/s is probably using no more than 250w of electricity, so 180kwh/month, or about $18 more in electricity per month.  Well, if you get decent rates on electricity, anyway.  $72/month at most though.

Mining is far from being unprofitable.  When difficulty hits 4M, then we'll talk about it being unprofitable for a good portion of hobbyist miners.
Jaime Frontero
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May 27, 2011, 06:05:45 AM
 #7

No.

300MH/s = .67BTC/day
= $5.70/day
= $171/month

And anyone with that kind of MH/s is probably using no more than 250w of electricity, so 180kwh/month, or about $18 more in electricity per month.  Well, if you get decent rates on electricity, anyway.

Mining is far from being unprofitable.  When difficulty hits 4M, then we'll talk about it being unprofitable for a good portion of hobbyist miners.

yes.
SomeoneWeird
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May 27, 2011, 06:11:15 AM
 #8

I know i was i imagine anyone else running in the 300 and under mhash range is done as well if they are paying for their power. It basically cut my daily profits in half. I wish others luck but i feel like you remove the hobbyist and small timers so early in its development you remove a lot of interest in the coins just how this works i guess.

Eh, Im only mining with 80mh/s, parents pay for power though, so any money earned is good money earned.

Until they find out. Then they will kill you.

Meh, dads the one that leaves the computer on of a night, so I'll just blame it on that Wink
CbineUltra
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May 27, 2011, 06:28:46 AM
 #9

No.

300MH/s = .67BTC/day
= $5.70/day
= $171/month

And anyone with that kind of MH/s is probably using no more than 250w of electricity, so 180kwh/month, or about $18 more in electricity per month.  Well, if you get decent rates on electricity, anyway.  $72/month at most though.

Mining is far from being unprofitable.  When difficulty hits 4M, then we'll talk about it being unprofitable for a good portion of hobbyist miners.

My margins are much lower but yes i see there is still some profit my power rate is almost double what you quoted for yours and my mhash is more in the range of 240mhash.  

Thanks for breaking it down, i feel like it will force some people out but we will see.

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May 27, 2011, 06:49:03 AM
 #10

I pulled the plug on 600 mhashes, even though it would still be profitable. Can't stand the noise anymore Smiley
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May 27, 2011, 08:03:00 AM
 #11

I know i was i imagine anyone else running in the 300 and under mhash range is done as well if they are paying for their power. It basically cut my daily profits in half. I wish others luck but i feel like you remove the hobbyist and small timers so early in its development you remove a lot of interest in the coins just how this works i guess.

I'm sorry you missed out on the goldrush, you can't get a bunch of free bitcoins, and you are bitter about it.  Don't let the door hit your ass on the way out.

p2pcoin: a USB/CD/PXE p2pool miner - 1N8ZXx2cuMzqBYSK72X4DAy1UdDbZQNPLf - todo
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commlinx
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May 27, 2011, 08:04:18 AM
 #12

As above it's certainly still profitable, more so in $US terms than when I started a few months ago. You're also assuming that large scale miners are a lot more efficient than hobbyists. It may be somewhat true but they're using rigs that would (mostly) not be used for anything else, versus the hobbyist that probably has the PC on a good deal of the day doing other stuff where the GPU itself is the only added power cost not to mention capital cost.

Chucksta
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May 27, 2011, 08:08:23 AM
 #13

With the current rate of increases, you've still got a few more increases before it is no longer profitable... a few weeks, perhaps 1 month
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May 27, 2011, 08:22:40 AM
 #14

No.

300MH/s = .67BTC/day
= $5.70/day
= $171/month

And anyone with that kind of MH/s is probably using no more than 250w of electricity, so 180kwh/month, or about $18 more in electricity per month.  Well, if you get decent rates on electricity, anyway.  $72/month at most though.

Mining is far from being unprofitable.  When difficulty hits 4M, then we'll talk about it being unprofitable for a good portion of hobbyist miners.

At the rate things are going that may happen by November.
The difficulty will pass 4M:

Conservative estimate:
in late August. (30% increase for each adjustment and 10 days per round)

"Holy cow, look at that" estimate:
in one month. (75%, 8 days)

I know this because Tyler knows this.
CbineUltra
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May 27, 2011, 04:33:29 PM
 #15

I know i was i imagine anyone else running in the 300 and under mhash range is done as well if they are paying for their power. It basically cut my daily profits in half. I wish others luck but i feel like you remove the hobbyist and small timers so early in its development you remove a lot of interest in the coins just how this works i guess.

I'm sorry you missed out on the goldrush, you can't get a bunch of free bitcoins, and you are bitter about it.  Don't let the door hit your ass on the way out.

Ive been mining for 6 months but yeah i wish i got on sooner. I'm not bitter in the least bit just disappointed its ends for me now, i feel like it just hasn't grown large enough for the level of difficulty it has reached, but that's just what i think.   Now go get out of your moms basement spreg elitist.

a7thson
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May 27, 2011, 04:46:14 PM
 #16

I'm not bitter in the least bit just disappointed its ends for me now, i feel like it just hasn't grown large enough for the level of difficulty it has reached, but that's just what i think.   

Interesting - I was just thrilled with the prospect of seeing actual ROI on a GPU that I was going to be purchasing anyway to replace a noisy, tired old 8800GT.  I work an 8-5, so the idle time that my system was doing nothing is free to devote to mining, and I had no hardware investment beyond the new GPU.  So even with a comparatively puny 260-270Mhash on a factory clocked 6870, it makes perfect sense for me - as a hobbyist - and a payback period of 2 months at most, with 70-75% uptime spent mining.

find something useful in my  post? 13FMjxBshHfrRPLzz41t5UcWyKXWwpoTTt
SgtSpike
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May 27, 2011, 04:54:10 PM
 #17

No.

300MH/s = .67BTC/day
= $5.70/day
= $171/month

And anyone with that kind of MH/s is probably using no more than 250w of electricity, so 180kwh/month, or about $18 more in electricity per month.  Well, if you get decent rates on electricity, anyway.  $72/month at most though.

Mining is far from being unprofitable.  When difficulty hits 4M, then we'll talk about it being unprofitable for a good portion of hobbyist miners.

My margins are much lower but yes i see there is still some profit my power rate is almost double what you quoted for yours and my mhash is more in the range of 240mhash.  

Thanks for breaking it down, i feel like it will force some people out but we will see.
You're certainly right that some people will choose to shut down because of it (as evidenced by this thread), but I think just the worst efficiency cards are being forced out at this point.  NVIDIA cards, certainly CPU mining, and a few of the really low-end ATI cards.

The worst ATI card for Mhash/watt is the 4550, which gets 7.23mhash for 25w.
7.23MH/s = 0.016147 BTC/day
= $0.14/day
= $4.21/month

These numbers are making me lol.

Anyway, electricity usage would be 18kwh, which would be roughly $1.80 at $0.10/kwh.  At $0.40/kwh though, you're looking at $7.20/month, so you're definitely losing money.

So if you live in California and are mining on a 4550, STOP.  Tongue
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May 27, 2011, 04:56:42 PM
 #18

The way I look at it is that I get in on it and enjoy the benefits while it is still affordable. If it doesn't pan out, then the early adopters that hoard will have wasted their time anyway. I am willing to buy their BTC at affordable rates for now as long as I see that there is growth in the interest of this industry. I still may buy equipment to mine, but I am still learning about this.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
Mousepotato
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May 27, 2011, 05:51:37 PM
 #19

No.

300MH/s = .67BTC/day
= $5.70/day
= $171/month

And anyone with that kind of MH/s is probably using no more than 250w of electricity, so 180kwh/month, or about $18 more in electricity per month.  Well, if you get decent rates on electricity, anyway.  $72/month at most though.

Mining is far from being unprofitable.  When difficulty hits 4M, then we'll talk about it being unprofitable for a good portion of hobbyist miners.
This is a plausible scenario.  What cracks me up is the people who assume the BTC exchange rate will stay the same forever Smiley  Look at the historicals.  It's only going UP.

Mousepotato
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May 27, 2011, 05:55:28 PM
 #20

Given that entry line and enthusiast AMD gfx cards scale in their mhash per Watt, I see zero argument / sense in differentiating between "hobby" miners vs "pros".

How could there be? The MARGIN stays the same issue regardless of how much VOLUME you have.

If it somehow becomes unprofitable for the current AMD generation of gfx cards, it becomes unprofitable for _ALL_ of them.

Regardless of whether it is some dude running 10 machines of 6990s or one normal guy with a 5770 - setting aside other hardware components / power draw sources, of course.

Ho-Hum.
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