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Bruce Wagner (OP)
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November 11, 2010, 10:46:45 PM |
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Would a brand new i7 computer, with a gpu, PAY FOR ITSELF in Bitcoin generated (right now)?
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Whoever mines the block which ends up containing your transaction will get its fee.
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da2ce7
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Live and Let Live
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November 11, 2010, 10:52:22 PM |
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Would a brand new i7 computer, with a gpu, PAY FOR ITSELF in Bitcoin generated (right now)?
maybe, depends on your luck, and the future rise in difficulty. |
One off NP-Hard.
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neptop
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November 11, 2010, 10:55:08 PM |
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Too many unknown variables and not enough input (about what you exactly mean by that), but the answer is most likely: NO.
Or at least not anytime soon.
Else everyone would do it and therefore (again) wouldn't pay for itself.
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BitCoin address: 1E25UJEbifEejpYh117APmjYSXdLiJUCAZ
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FreeMoney
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Strength in numbers
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November 11, 2010, 10:56:56 PM |
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If you generate and sell immediately I'd guess not. If you hold a while the price rise will probably take care of it eventually.
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Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone. |
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MoonShadow
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November 11, 2010, 11:29:42 PM |
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Would a brand new i7 computer, with a gpu, PAY FOR ITSELF in Bitcoin generated (right now)?
Perhaps if your electricity is otherwise free to use, such as you live in Canada and only have electro-resistive heat anyway, but you are probably still talking about a 7+ year ROI. Otherwise your average time for ROI would probably be longer than your lifetime, and might approach infinity. |
"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."
- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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asdf
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November 12, 2010, 02:59:25 AM |
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cpu generation is useless in terms of Mhash/s per Watt. You need to use GPUs. I suggest buying the cheapes pc possible that supports PCI Express 2 (the latest graphics card). That means the shit-est motherboard with PCIE2, 1GB ram and the, small cheap disk and the cheapest cpu that this MOBO supports. Don't get an i7, it's useless for generating; too inefficient. So, you need to find out the cheapest deal you can get for this system, figure out how many Mhash/s the GPU will yield, how much power it will consume and how much your electricity costs. then do the math to figure out the cost effectiveness. Try to get a motherboard which supports multiple graphics cards, for optimum cost effectiveness. If you generate and sell immediately I'd guess not. If you hold a while the price rise will probably take care of it eventually.
If you base cost-effectiveness on the projected value of bitcoins, you'd be better of just buying bitcoins and holding them (cheaper). Also consider that building this system will contribute to the strength of the network. Keep in mind that difficulty will rise as the value of bitcoins rises. So the increasing difficulty is not really a factor to consider. What you want to do is maximise your Mhash/s per Watt. |
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Anonymous
Guest
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November 12, 2010, 04:45:43 AM |
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Would a brand new i7 computer, with a gpu, PAY FOR ITSELF in Bitcoin generated (right now)? Its not the size (of the cpu) that matters ....  |
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Timo Y
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bitcoin - the aerogel of money
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November 12, 2010, 09:40:32 AM |
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Would a brand new i7 computer, with a gpu, PAY FOR ITSELF in Bitcoin generated (right now)?
A computer purchased for the sole purpose of generating is unlikely to be profitable. You are up against a competition whos marginal cost of generation is practically zero. Examples: 1) Someone who uses generation to heat their living room, and switches off the electric heater. 2) Someone who has a flat-rate electricity contract where off-peak electricity is free. 3) Someone who's got solar panels installed on their roof but not enough batteries to store surpluses on peak days. 4) A bored system administrator running a server cluster that sits underutilised between 12 pm and 6 am. etc. |
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teknohog
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November 12, 2010, 12:42:11 PM |
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cpu generation is useless in terms of Mhash/s per Watt. You need to use GPUs. I suggest buying the cheapes pc possible that supports PCI Express 2 (the latest graphics card). That means the shit-est motherboard with PCIE2, 1GB ram and the, small cheap disk and the cheapest cpu that this MOBO supports. Don't get an i7, it's useless for generating; too inefficient.
This is exactly what I thought. I generally choose small and low-energy systems anyway, and these days you can find Mini-ITX/DTX motherboards with fanless CPUs and a PCIe slot. For my latest machine with Bitcoin in mind, I got a Zotac NM10-DTX and a Radeon HD 5570. Completely fanless, powered by an 80-watt adapter and a PicoPSU, generating at 61 Mhash/s. If Bitcoin generation is at all profitable, I might expand this with a second, faster (but still fanless) Radeon, but that would require a new PSU as well. For maximum Mhash/s per USD or watt, you can probably find better combinations. However, I live in a single-room apartment and I like to keep my computers quiet. |
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ShadowOfHarbringer
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Bringing Legendary Har® to you since 1952
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November 12, 2010, 01:24:19 PM |
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Would a brand new i7 computer, with a gpu, PAY FOR ITSELF in Bitcoin generated (right now)?
Not even a chance, unless you wait long long time before selling the bitcoins You generated. If the difficulty will rise in the speed it is currently rising, then Your income will halve approximately every 2 weeks... Also, as said previously, CPU generation is currently pretty useless. The only thing that produces enough coins per watt is GPU miners - specifically ATI/AMD GPU miners. |
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ribuck
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November 12, 2010, 01:55:34 PM |
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I did some rough sums for a 5870-based GPU miner. At the moment it should generate $10 worth of bitcoins per day (one block of 50 per day at $0.20).
But the difficulty rise could be expected to be about 50% every 10 days. Over the next 100 days, the income would be $100 + $66 + $44 + $30 + $20 + $13 + $9 + $6 + $4 + $1.
That's $293 or BTC 1465, which is considerably less than the cost of a Radeon 5870 card.
Of course there are many unknowns, any of which would change the outcome greatly. The price of BTC could rise or fall. The difficulty could rise faster (if GPU mining was integrated into the mainstream software), or it could rise slower (when most of those who are technically capable of using the GPU for mining are already doing so). A major event could damage power generating capacity and push up the price of electricity. A problem with the bitcoin network could put the whole system offline for a while. A massive influx of users could make transaction fees a worthwhile part of the income produced by generating, etc etc.
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brocktice
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November 12, 2010, 02:20:01 PM |
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I've got a miner right now working on paying itself off. I have to echo the points made here. i7 would be a huge waste of money. I'm generating at about 1.5 ghash/s right now, and my CPU is 97% idle. The other 3% is mainly from the monitoring stuff that I'm running.
At this point I'm just hoping it pays itself off in another month or so. I can't see the current rate of GPU power expansion going on forever. There are only so many people willing to spend the time and money up front to get it going, and it's getting less and less attractive.
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