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Author Topic: Can I make a million mining or is my math wrong?  (Read 7190 times)
Blinken
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March 16, 2013, 11:06:30 PM
 #1

Hello, just naively prowling the web here and it seems like becoming a millionaire is a simple matter of mining a few bitcoins. However, my spidy sense says something must be wrong somewhere with my math. Maybe somebody here can straighten me out?

The bitcoin difficulty is currently 4,847,647 (16 March 2013)

Avalon-asics is advertising a "unit" costing $1500 that performs 65,000 Mega hashes per second.

Using a bitcoin mining calculator, such as TP's (http://tpbitcalc.appspot.com/) I find that 65,000 Mega hashes per second should result in an annual income of $114,747. So, assuming I buy 10 of these "units" I guess I should be making $1,147,470 a year.

There is another company Butterfly that seems to be offering a "unit" with TERABYTE hashes per second which would appear to make me a millionaire considerably faster.

What am I missing here?

UPDATE-------------------------------

Ok, on further investigation the devices appear to be webimaginary devices that do not actually exist except in the minds of their creators. That would explain it.

Hey, everybody I got a 5,000 TERAHASH/s asic miner shipping very soon now (picture below). I am accepting orders right away, though. PM me to get the address to send your cash to. Cost is $15,000 per unit.

The Blinken 5,000 terahash asic miner:



Warning! This thing is a serious power hog.

Bitcoin ♦♦♦ Trust in Mathematics, Not Bankers ♦♦♦
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glitch003
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March 17, 2013, 12:04:01 AM
 #2

Wow, you seriously are an idiot.
Fiyasko
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March 17, 2013, 12:37:10 AM
 #3

Well, seeing as how his avatar icon is of a Literal Troll, this is what one would expect him to post.
Why people listen to known trolls is beyond me, I block them

http://bitcoin-otc.com/viewratingdetail.php?nick=DingoRabiit&sign=ANY&type=RECV <-My Ratings
https://bitcointalk.org/index.php?topic=857670.0 GAWminers and associated things are not to be trusted, Especially the "mineral" exchange
kalner123456
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March 17, 2013, 12:42:12 AM
 #4

Well, seeing as how his avatar icon is of a Literal Troll, this is what one would expect him to post.
Why people listen to known trolls is beyond me, I block them

So how much would you make? Smiley
crazyates
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March 17, 2013, 03:38:13 AM
 #5

UPDATE-------------------------------

Ok, on further investigation the devices appear to be webimaginary devices that do not actually exist except in the minds of their creators. That would explain it.

Hey, everybody I got a 5,000 TERAHASH/s asic miner shipping very soon now (picture below). I am accepting orders right away, though. PM me to get the address to send your cash to. Cost is $15,000 per unit.

The Blinken 5,000 terahash asic miner:



Warning! This thing is a serious power hog.

Ahahaha! Sock puppet if I've ever seen one.

Tips? 1crazy8pMqgwJ7tX7ZPZmyPwFbc6xZKM9
Previous Trade History - Sale Thread
Noogsy
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March 20, 2013, 05:25:41 PM
 #6

Your math is wrong.
Move along, no Millions to make here.

 Grin

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Cheers
farlack
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March 20, 2013, 08:54:38 PM
 #7

If anyone got first waves, they're making fucking bucks.

But by the time you get your 30 rigs difficulty will be 23498908x higher, making your annual income 5k per.

Mike Christ
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March 20, 2013, 08:56:41 PM
 #8

If anyone got first waves, they're making fucking bucks.

But by the time you get your 30 rigs difficulty will be 23498908x higher, making your annual income 5k per.

Still, money you weren't making before Grin

DrG
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March 21, 2013, 02:41:02 AM
 #9

You'll be able to mine 21,000,001 BTC with that thing!

BTC: 1AMfUrM37cCHcAvyYGx9bsJWjt6rdCu7sj
ETH: 0x427f41c3a6b79ca643210195a33cdbaa714177aa
BitCoinLoft
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March 21, 2013, 08:28:33 PM
 #10

Such a big (and silly) post to advertise a little shi***y link. LOL  Grin
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