rkandrades (OP)
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Bitcoin Faucet & Blog
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October 07, 2015, 04:59:43 AM |
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chalkboard17
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October 07, 2015, 10:09:08 AM |
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0.00002977 BTC per day. 0.01086605 BTC per year, so long as difficulty remains static, which will surely not happen. Far from it. That's $2.65 in an entire year. Not even enough to purchase a mcdonalds sandwich since you live in Brazil and they are heavily taxed, as everything else is.
It would take over 10 years to recoup what you've spent, not counting in electricity, taxes and shipping. Which means you will not only never recover your investment, but also lose a lot of cash.
As if this isn't enough, you were born in the most tyrannical and enslaved place in the western world, and you will pay nearly 100% on import tax. People don't like to send items to Brazil because it often gets stolen by the brazilian state mail company. Shipping will be expensive. Electricity is one of the highest priced in the western world at >$0.18/wh, because of taxes and government limiting competition.
Your best bet would be generating energy out of generators (or find someone else who has some unused energy from them like I did) - or steal energy. But even after doing so you'd still need one of the newest machines such as the antminer s7. Once you have achieved both, you will need to find a way to import things without being stolen by the government mafia. You will have to figure the first two by yourself as nobody can help you. I'd help you with the latter but I'm also stuck at it (let me know if you can solve it, by importing without taxes or nearly none).
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TheRealSteve
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October 07, 2015, 10:12:19 AM |
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approximately 0.000029991/day under ideal circumstances, i.e. less than you're getting from all your faucets + sig campaigns + spammery.
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notlist3d
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October 07, 2015, 03:20:21 PM |
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Sitck miners at this point are for fun or learning. They are a cheap way to do this. say you get a compac from sidehack, you have a nice little lotto device that is fun to play with. It is best bang for you buck as far as stick mining right now, and fun to play with.
If you want ROI look into larger gear, and make sure to do ROI math. Some it's possible others it is not.
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jonnybravo0311
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Mine at Jonny's Pool
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October 07, 2015, 03:40:44 PM |
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Short answer: not enough to ever cover the cost of the item you purchased. Long answer: the expected earnings of any mining device is easy to calculate. In fact there are numerous online mining calculators available for you to use. You need to keep in mind that there are many factors that will influence the actual earnings. Calculators only provide you a snapshot of expected earnings given a specific network difficulty. The simplified version of the formula to calculate expected earnings per day is as follows: Block solve reward / (Difficulty * 2^32 / hash rate / seconds in a day)
So, assuming that miner hashes at 3.6GH/s, as of right now it's expected daily earnings are: 25 / (60813224039 * 2^32 / 3600000000 / 86400) = 0.00002977
Therefore, at this network difficulty you would expect that miner to make 0.00002977 BTC a day. At the current exchange rate of $244 USD per BTC, that translates to $0.007 per day. In other words, you're mining less than a penny a day before you take into account the power costs to run that miner.
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Jonny's Pool - Mine with us and help us grow! Support a pool that supports Bitcoin, not a hardware manufacturer's pockets! No SPV cheats. No empty blocks.
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rkandrades (OP)
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Bitcoin Faucet & Blog
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October 07, 2015, 05:30:14 PM |
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I see...
But I'm not think in profit with mining. I just wanted a fifth provider of satoshis to support my faucet.
I'm having good profit with my faucet and I use to try support its balance getting satoshis from:
1. Signature campaign 2. Rotator referrals 3. Faucets 4. Publishing Ads on my site
With this 4 fonts I'm getting 50% of the amount spent with my faucet payouts.
The problem is it takes a lot of time to administrate and collect these satoshis.
So my idea is to seek for a fifth font of satoshis but withou the need to spend more time.
Mine with a little USB miner sounds good to me because It doesn't takes me time.
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RodeoX
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The revolution will be monetized!
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October 07, 2015, 05:34:47 PM |
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The problem is scale. There was a time when you could mine from home and be profitable. But now things are at an industrial level and you will need to go big or go home. Look at the picture below and you see your competition. Those are acres of racks containing advanced chips just for mining BTC.
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jonnybravo0311
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Mine at Jonny's Pool
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October 08, 2015, 01:58:18 PM |
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I see...
But I'm not think in profit with mining. I just wanted a fifth provider of satoshis to support my faucet.
I'm having good profit with my faucet and I use to try support its balance getting satoshis from:
1. Signature campaign 2. Rotator referrals 3. Faucets 4. Publishing Ads on my site
With this 4 fonts I'm getting 50% of the amount spent with my faucet payouts.
The problem is it takes a lot of time to administrate and collect these satoshis.
So my idea is to seek for a fifth font of satoshis but withou the need to spend more time.
Mine with a little USB miner sounds good to me because It doesn't takes me time.
Well, having a dedicated miner is certainly pretty hassle free - plug it in and let it run. The problem is that most pools you're going to mine on have minimum withdrawal limits. So, while you might be earning a few thousand satoshi a day from your USB device, it'll be a while before you can actually withdraw your balance .
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Jonny's Pool - Mine with us and help us grow! Support a pool that supports Bitcoin, not a hardware manufacturer's pockets! No SPV cheats. No empty blocks.
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rkandrades (OP)
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Activity: 392
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Bitcoin Faucet & Blog
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October 08, 2015, 02:19:13 PM |
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I see...
But I'm not think in profit with mining. I just wanted a fifth provider of satoshis to support my faucet.
I'm having good profit with my faucet and I use to try support its balance getting satoshis from:
1. Signature campaign 2. Rotator referrals 3. Faucets 4. Publishing Ads on my site
With this 4 fonts I'm getting 50% of the amount spent with my faucet payouts.
The problem is it takes a lot of time to administrate and collect these satoshis.
So my idea is to seek for a fifth font of satoshis but withou the need to spend more time.
Mine with a little USB miner sounds good to me because It doesn't takes me time.
Well, having a dedicated miner is certainly pretty hassle free - plug it in and let it run. The problem is that most pools you're going to mine on have minimum withdrawal limits. So, while you might be earning a few thousand satoshi a day from your USB device, it'll be a while before you can actually withdraw your balance . Hummm... Tell me real examples of these minimum withdrawal limits, please (the little ones)
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RichBC
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October 08, 2015, 02:35:52 PM |
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Hummm... Tell me real examples of these minimum withdrawal limits, please (the little ones) A common minimum for payout is 0.01BTC so taking from above 0.00003BTC / Day that is 334 Days. NiceHash pays out once a Day at .004BTC which is 134 Days However they also pay out Weekly at .0001BTC so you would see .0002 each Week. Rich
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silverleafy
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October 08, 2015, 06:00:13 PM |
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Odds are... never. I was checking on Bitcoinwisdom's mining calculator, and even with a 1% increase in difficulty every 2016 blocks and a 1% pool fee, assuming free... you'll never get back your $20 investment (assuming free shipping). The closest you'd get to breaking even (according to that website) is $19.98 in red. Mining with that for profit isn't worth it. At all. It might be good to get started, to see how mining works, or just for fun. But not for profit. I repeat, you will never break even if you mine with that.
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rkandrades (OP)
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October 08, 2015, 06:08:23 PM |
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Odds are... never. I was checking on Bitcoinwisdom's mining calculator, and even with a 1% increase in difficulty every 2016 blocks and a 1% pool fee, assuming free... you'll never get back your $20 investment (assuming free shipping). The closest you'd get to breaking even (according to that website) is $19.98 in red. Mining with that for profit isn't worth it. At all. It might be good to get started, to see how mining works, or just for fun. But not for profit. I repeat, you will never break even if you mine with that. Then... Why these tiny miners still costs high prices if they return almost nothing?
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notlist3d
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October 08, 2015, 06:32:34 PM |
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Odds are... never. I was checking on Bitcoinwisdom's mining calculator, and even with a 1% increase in difficulty every 2016 blocks and a 1% pool fee, assuming free... you'll never get back your $20 investment (assuming free shipping). The closest you'd get to breaking even (according to that website) is $19.98 in red. Mining with that for profit isn't worth it. At all. It might be good to get started, to see how mining works, or just for fun. But not for profit. I repeat, you will never break even if you mine with that. Then... Why these tiny miners still costs high prices if they return almost nothing? They mainly are for fun and learning. They are not made for ROI. If you want ROI look into bigger gear. And do the math. What is your electricity price?
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TheRealSteve
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October 08, 2015, 06:34:52 PM |
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Then... Why these tiny miners still costs high prices if they return almost nothing? Because people are still willing to pay those prices - whether because they don't know any better (i.e. the seller's basically taking advantage of ignorance, even if not willful), or because the buyer assigns that value to the object based on other characteristics (maybe trying to complete a collection, for example). A secondary thing is that there's a minimum value for these things anyway - people have to put in time for packaging+shipping, the packaging+shipping itself has a cost, and below a certain base value for the product, the aforementioned aren't worth the bother. So while a Block Erupter USB, when calculating $/Gh from say an Antminer S7 would be almost worthless, a more reasonable market price is between $5 and $10. Lower than $5 and you'd be better off yanking the heatspreader off and try selling that separately as 'jewelry', for example
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BLOCK_C
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October 08, 2015, 11:39:22 PM |
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At roughly $7 per Ghash it will take you about 10 years to recover your 'investment' that is assuming you're not counting your power cost into the equation.
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rkandrades (OP)
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October 09, 2015, 03:38:41 AM |
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I gave up this idea.
I won't mine. heheh
Thank you all.
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mavericklm
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October 09, 2015, 03:41:53 AM |
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if you have cheap electricity, if you need the heat, then you should mine!
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rkandrades (OP)
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October 09, 2015, 04:06:36 AM |
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if you have cheap electricity, if you need the heat, then you should mine!
Eletricity has high costs in Brazil...
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VirosaGITS
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October 09, 2015, 04:46:27 AM |
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You can easily buy 200gh/s for 20$ for an antminer S1 and just run it in the winter using it as a heater and you will do much better than a 3gh/s stick, but neither of these will make you much of anything.
Thats what i'm doing here in Canada, Québec. Electricity is dirt cheap so S1 is actually still profitable-ish. Considering that i can use those instead of electric heating for the winter. I will ROI those S1's a 3 or 4th time it seem. Have a look at this; https://i.imgur.com/Ys7XHsq.png?2Running with a super low CFM super silent fan. Its quieter than my CPU fan that i can barely hear in my PC. Next to the window, in winter, i will probably be able to run them fanless. Without a fan at 27c ambient they go 71c which feel too hot imo.
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rkandrades (OP)
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October 09, 2015, 04:46:37 AM |
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You can easily buy 200gh/s for 20$ for an antminer S1 and just run it in the winter using it as a heater and you will do much better than a 3gh/s stick, but neither of these will make you much of anything.
Where can I find an ANtminer S1 for this price?
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