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Stn
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November 30, 2012, 03:27:28 AM |
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With the price of Bitcoin constantly growing up, isn't "new" 25 BTC going to be equivalent to "old" 50 shortly?
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DiCE1904
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November 30, 2012, 03:31:12 AM |
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With the price of Bitcoin constantly growing up, isn't "new" 25 BTC going to be equivalent to "old" 50 shortly?
that's assuming that price is going to keep going up |
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AngelusWebDesign
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November 30, 2012, 04:34:11 AM |
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With the price of Bitcoin constantly growing up, isn't "new" 25 BTC going to be equivalent to "old" 50 shortly?
Yeah! The price has skyrocketed from 12.30 a couple days ago to 12.55 as I type this. [/sarcasm] I wouldn't describe the price as "constantly going up" or skyrocketing. The 2-day, 25 cent gain is hardly compensating for a halving of bitcoin mining income. |
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DobZombie
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November 30, 2012, 06:21:45 AM |
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I'm real curious to know where the additional capacity is coming from.
Yeah, that makes 2 of us |
Tip Me if believe BTC1 will hit $1 Million by 2030
1DobZomBiE2gngvy6zDFKY5b76yvDbqRra
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rupy
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November 30, 2012, 07:38:40 AM
Last edit: November 30, 2012, 10:54:41 AM by rupy |
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3, I'm just glad I didn't bet that difficulty would go down like I thought! Now I mine 1/5 of what I did last year! Still profitable with FPGA but for how long?
Edit: So I did the math on FPGA profitability: If difficulty multiplies by 12.5 (same price on BTC and electricity) I have to shut the FPGAs off.
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DobZombie
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November 30, 2012, 08:19:59 AM |
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I wouldn't describe the price as "constantly going up" or skyrocketing.
The 2-day, 25 cent gain is hardly compensating for a halving of bitcoin mining income.
Give it 5-6 months. I recon it'll bump up on average 0.2 - 0.5 BTC a week |
Tip Me if believe BTC1 will hit $1 Million by 2030
1DobZomBiE2gngvy6zDFKY5b76yvDbqRra
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muyuu
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November 30, 2012, 08:32:33 AM |
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I wouldn't describe the price as "constantly going up" or skyrocketing.
The 2-day, 25 cent gain is hardly compensating for a halving of bitcoin mining income.
Give it 5-6 months. I recon it'll bump up on average 0.2 - 0.5 BTC a week Heh I hope so. In any case, I keep most of my coins for the long term and daily prices won't change my outlook. The coins mined in March last year are not worth 5 US$, they are worth just as much as those mined now. My rig is at this point very far from profitable. I should probably sell a GPU or two in honesty, but it keeps the room warm. |
GPG ID: 7294199D - OTC ID: muyuu (470F97EB7294199D)
forum tea fund BTC 1Epv7KHbNjYzqYVhTCgXWYhGSkv7BuKGEU DOGE DF1eTJ2vsxjHpmmbKu9jpqsrg5uyQLWksM CAP F1MzvmmHwP2UhFq82NQT7qDU9NQ8oQbtkQ
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Insu Dra
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November 30, 2012, 08:34:19 AM |
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Still 50/50 ltc/btc, sorry ltc wins atm :p
12 * 7990, heating community in morjärv.
But as mentioned I do hope to see small price increase, been saving for just that.
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"drugs, guns, and gambling for anyone and everyone!"
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zvs
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November 30, 2012, 11:50:08 AM |
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my elec cost would have to be about 17c/kwh for it to be unprofitable for me (w/o taking into account possible equipment failure, falling value of equipment). but, for the last 2 months my elec has been slightly under 7c, for the 3-4 months prior to that it was about 7.9c (it is adjusted based on price of natural gas in texas, essentially)
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rupy
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November 30, 2012, 12:43:23 PM |
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Geez, shale-gas powered bitcoins!
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The-Real-Link
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November 30, 2012, 11:10:30 PM |
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Already moved my machines out of the office and back to home since they'd barely be breaking even on expenses after the halving. Will probably keep them running though until ASIC arrives then strip or sell the rigs.
There's still a little bit of profit currently in them so no reason to quit just yet.
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Oh Loaded, who art up in Mt. Gox, hallowed be thy name! Thy dollars rain, thy will be done, on BTCUSD. Give us this day our daily 10% 30%, and forgive the bears, as we have bought their bitcoins. And lead us into quadruple digits
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Dalkore
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Mining since 2010 & Hosting since 2012
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November 30, 2012, 11:18:53 PM |
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I am closing my GPU farm and I have made my own calculations to see if I want to do ASIC. I won't know until mid-Feburary.
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ThaSpacePope
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December 01, 2012, 08:06:38 AM |
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I am closing my GPU farm and I have made my own calculations to see if I want to do ASIC. I won't know until mid-Feburary.
I just did a quick calculation and it appears litecoin as of right now with a ltc price of $.08390 is about twice as profitable as bitcoin mining... which would be where we were prior to the split. Looking at litecoinpool.org the pool hashrate has gone up 50% since the btc split so its obvious everyone agrees that litecoin is where gpu miners will now be going as bitcoin ASICS won't work with litecoins and litecoin ASICs are not even being developed. If i'm missing something crucial here someone correct me.. but at this time it appears that ltc is the way to go. |
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rchapoteau
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December 01, 2012, 02:52:57 PM |
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I don't understand the economic side of LTC right now. How would switching to ltc be profitable at the moment with such a low price compared to one btc? Is it based on the speculation that one day LTC will also be worth about the same as BTC?
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Spaceman_Spiff
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December 01, 2012, 04:00:23 PM |
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Probably just the lack of mining competition there, which ensures more LTCs to be mined.
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Gatorhex
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December 01, 2012, 04:40:30 PM
Last edit: December 01, 2012, 05:20:03 PM by Gatorhex |
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I'm quitting tonight, only kept mining because I didn't realize the block reward halved. 2x Ati 5830s 520Mh/s 320w @ $0.15 Kw/h = no profit until bitcoins price greater than $16 It's cheaper for me to buy them, than mine them, right now!  |
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beekeeper
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December 01, 2012, 04:50:03 PM |
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I don't understand the economic side of LTC right now. How would switching to ltc be profitable at the moment with such a low price compared to one btc? Is it based on the speculation that one day LTC will also be worth about the same as BTC?
Anything gets traded as long as it gets attention. |
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ThaSpacePope
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December 01, 2012, 06:29:51 PM |
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I don't understand the economic side of LTC right now. How would switching to ltc be profitable at the moment with such a low price compared to one btc? Is it based on the speculation that one day LTC will also be worth about the same as BTC?
Not according to my calculations My gpu farm at current btc prices will only generate about $5 revenue (roughly 3000mh/sec) Same gpu farm will generate about $10 worth of litecoins. At least at last night's prices. |
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-ck
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Ruu \o/
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December 01, 2012, 09:41:53 PM |
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LTC just died in the arse as a bunch of GPU miners jumped on board for a bit and pushed difficulty beyond profitability. I did warn them that the BTC halving would hurt LTC but they saw more people mining as a good thing. The LTC fanboys thought that more people mining would somehow magically drive LTC prices up when there is no such mechanism.
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Developer/maintainer for cgminer, ckpool/ckproxy, and the -ck kernel
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meebs
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December 02, 2012, 02:42:04 AM |
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LTC just died in the arse as a bunch of GPU miners jumped on board for a bit and pushed difficulty beyond profitability. I did warn them that the BTC halving would hurt LTC but they saw more people mining as a good thing. The LTC fanboys thought that more people mining would somehow magically drive LTC prices up when there is no such mechanism.
This is something that is VERY natural and expected to happen. Right after the halving LTC was twice as profitable at current FX rates to mine, so many miners switched over, now that it has evened out some people are switching off or moving to something else until difficulty drops back down again. at the end of the day btc will be the determinator for mining profitability unless some other alt chain grows substantially in its influence. |
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