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Author Topic: Will i make a profit?  (Read 846 times)
Piekartz
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June 19, 2011, 05:25:43 PM
 #1

Hello there,

I'm planning on running a new setup:
2x 5850's
1x AMD Phenom II x6 1100T
850w psu
Since most of the hardware is already accounted for. (Besides another 5850) The cost of this will be $150 bucks. I can have it running 24/7 and fortunately for a rig of this size i will not have any extra electricity costs.


The current calculator tells me that: (Without any raises in difficulty)
Coins   Dollars
per Day   ฿0.69   $12.05
per Week   ฿5.02   $87.84
per Month   ฿20.91   $366.20

Now, to me as a noob it appears as i am going to make a hefty 150 dollar profit in the first month.

However, this looks too easy, what am i missing? Any extra hidden costs? How long will it take me to recover my expenses?

Thanks in advance!

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1480890575
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ketsa
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June 19, 2011, 05:33:57 PM
 #2

The calculator does not take into account raising difficulty.
looks like you can expect at least 50%+ difficulty every week.

try this calculator, but do not put too much faith in his sky high optimistic "predicted BTC exchange rate"

http://bitcoinstuff.appspot.com/?mhps=800&wd_rate=0&difficulty_rate=1.356&forecast_exchange=on

You also need to substract the cost of power.

levino
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June 19, 2011, 05:34:53 PM
 #3

First of all the price of bitcoins can drop any time. So maybe you won't be able get as many $ as the calculator predicts. Also right now it might be still profitable to mine bitcoins but with more and more people joining in the competition, mining gets harder until eventually you will get exactly the electricity costs from mining. A common market equilibrium. Then nobody (hopefully) would start mining, as they would actually pay for the computation which is irrational.

Cheers,

Levino

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fascistmuffin
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June 19, 2011, 05:45:03 PM
 #4

Hello there,

I'm planning on running a new setup:
2x 5850's
1x AMD Phenom II x6 1100T
850w psu
Since most of the hardware is already accounted for. (Besides another 5850) The cost of this will be $150 bucks. I can have it running 24/7 and fortunately for a rig of this size i will not have any extra electricity costs.


The current calculator tells me that: (Without any raises in difficulty)
Coins   Dollars
per Day   ฿0.69   $12.05
per Week   ฿5.02   $87.84
per Month   ฿20.91   $366.20

Now, to me as a noob it appears as i am going to make a hefty 150 dollar profit in the first month.

However, this looks too easy, what am i missing? Any extra hidden costs? How long will it take me to recover my expenses?

Thanks in advance!


This is one of the cases when I'd say go for it. Since you have most of the hardware already, and will be investing a small amount, you don't have much to lose ($150 is chump change when you think about it).
Piekartz
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June 19, 2011, 11:35:35 PM
 #5

Please not that I do not pay extra for additional power cost a rig this size requires.

Will the profits be reasonable?

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Piekartz
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June 19, 2011, 11:45:50 PM
 #6

The calculator does not take into account raising difficulty.
looks like you can expect at least 50%+ difficulty every week.

try this calculator, but do not put too much faith in his sky high optimistic "predicted BTC exchange rate"

http://bitcoinstuff.appspot.com/?mhps=800&wd_rate=0&difficulty_rate=1.356&forecast_exchange=on

You also need to substract the cost of power.


Yes but since I do not pay for extra power ill be making profit?

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bitcoin.monger
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June 20, 2011, 05:15:17 AM
 #7

It depends on what happens to the price and to the difficulty, and... how lucky you are. You MAY solve a block in your first minute of mining if you're really, really lucky...
Since your hardware is paid for and electricity is not an issue for you, you're in a MUCH better position than most miners. Go for it, no matter what happens, it will be better for you than for most!
morr
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June 20, 2011, 05:20:26 AM
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Yes but since I do not pay for extra power ill be making profit?

Hard to see anyone being more effective on that side.
Piekartz
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June 20, 2011, 07:47:50 PM
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I'll go for it and post the results here. Smiley

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bitcoin.monger
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June 21, 2011, 01:51:15 AM
 #10

Please do so. Good luck!  Smiley
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