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Author Topic: [40+ PH] SlushPool (slushpool.com); World's First Mining Pool  (Read 3857095 times)
Trongersoll
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March 25, 2014, 08:29:55 PM
 #16021

Just a reminder, ROI is Return On Investment. It does not mean Profit or Break Even. Your Return On Investment can be less than your original investment.

*insert appropriate begging line here* 
BTC: 1CS6AV7VnjcPLxaTFoUhTjXK4mQCTzfSxE
Doge: DB22tiynvXKg7SyPpnH9jyfitKLTZb6ejc
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TRSundown
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March 25, 2014, 08:37:57 PM
 #16022

Just a reminder, ROI is Return On Investment. It does not mean Profit or Break Even. Your Return On Investment can be less than your original investment.

True, bad choice of words on my part. There were some pretty good answers provided so I thank the community for pitching in! Still tons to learn!
nottm28
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March 25, 2014, 08:48:46 PM
 #16023

So at what rate are you hashing? Just want to see what levels people are at...

I'm near 200 GH/s, burning about 800W.   Currently making about 4 mBTC a round.

Is 4 mBTC = .004 per round? I'm at 225 gh/s and pulling .0049 to .0054 btc per round

Yes, 1 micro BTC = 1 BTC divided by 1000 = 0.001 BTC

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amspir
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March 25, 2014, 09:13:13 PM
 #16024

So at what rate are you hashing? Just want to see what levels people are at...

I'm near 200 GH/s, burning about 800W.   Currently making about 4 mBTC a round.

Is 4 mBTC = .004 per round? I'm at 225 gh/s and pulling .0049 to .0054 btc per round

Yes, 1 micro BTC = 1 BTC divided by 1000 = 0.001 BTC

Actually, you mean milli (1e-3 units)  micro is denoted as µ or u for 1e-6 units.

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March 25, 2014, 09:20:12 PM
 #16025

So at what rate are you hashing? Just want to see what levels people are at...

I'm near 200 GH/s, burning about 800W.   Currently making about 4 mBTC a round.

Is 4 mBTC = .004 per round? I'm at 225 gh/s and pulling .0049 to .0054 btc per round

Yes, 1 micro BTC = 1 BTC divided by 1000 = 0.001 BTC

Actually, you mean milli (1e-3 units)  micro is denoted as µ or u for 1e-6 units.



Ah I stand corrected by that man - and I have a maths degree - how leveling Smiley

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March 25, 2014, 09:29:56 PM
 #16026

Actually, you mean milli (1e-3 units)  micro is denoted as µ or u for 1e-6 units.
Ah I stand corrected by that man - and I have a maths degree - how leveling Smiley

Which is why we need a new word for milliBTC.
faxfan2002
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March 25, 2014, 09:50:07 PM
 #16027

1TH - 0.023 per round.
spazzdla
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March 25, 2014, 09:56:04 PM
 #16028

I like milliBTC !
nottm28
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March 25, 2014, 09:56:26 PM
 #16029

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1TH - 0.023 per round.

Sounds about right - slush's pool can expect to find approx 33 blocks per week so with 1TH you are about 0.85BTC per week... for about 2 weeks then difficulty increases and you go down by approx 18% every 2 weeks...

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necro_nemesis
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March 25, 2014, 10:34:36 PM
 #16030

Just a reminder, ROI is Return On Investment. It does not mean Profit or Break Even. Your Return On Investment can be less than your original investment.

I don't get it. If you're not planning to profit from mining what's the draw? Difficulty would have to do an about face to make your mining equipment even hold value and the makers are pumping out more each day undermining it's value. If you're looking strictly for BTC to go up to get ahead, stop buying mining equipment and start buying BTC.
TRSundown
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March 25, 2014, 11:11:11 PM
 #16031

Its just like mining gold I guess... you have to spend money on mining equipment to dig for the gold just like buying btc mining hardware. You just hope at the end of the day that your mining equipment produces enough gold, or btc, to make it worth your while. The deeper you go into the mountain (difficulty) to get the gold the more equipment you have to buy... Its definitely not a set and forget system. You have to stay ahead of the difficulty curve and continue to reinvest some portion of your earnings to stay ahead of that curve.
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March 25, 2014, 11:15:36 PM
 #16032

Its just like mining gold I guess... you have to spend money on mining equipment to dig for the gold just like buying btc mining hardware. You just hope at the end of the day that your mining equipment produces enough gold, or btc, to make it worth your while. The deeper you go into the mountain (difficulty) to get the gold the more equipment you have to buy... Its definitely not a set and forget system. You have to stay ahead of the difficulty curve and continue to reinvest some portion of your earnings to stay ahead of that curve.

As good an analogy as any. Not bad for a noob Smiley

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TRSundown
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March 25, 2014, 11:18:25 PM
 #16033

13+ hours for the round... ugg!!!  Angry  Sad  These super long rounds are killing me!!!  Cry
necro_nemesis
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March 25, 2014, 11:47:19 PM
 #16034

13+ hours for the round... ugg!!!  Angry  Sad  These super long rounds are killing me!!!  Cry

Walk away and stop watching.  Grin Check once a week when it averages out.
amspir
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March 25, 2014, 11:52:59 PM
 #16035

A watched pot never boils.
faxfan2002
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March 26, 2014, 09:29:02 AM
 #16036

S
1TH - 0.023 per round.

Sounds about right - slush's pool can expect to find approx 33 blocks per week so with 1TH you are about 0.85BTC per week... for about 2 weeks then difficulty increases and you go down by approx 18% every 2 weeks...

Yup, if I want to keep up reinvest "n"BTC every few weeks or save for a big jump. My feeling is the difficulty will not increase by so much in the medium term as to increase the hashing power you'd have to ship a whole load of 1TH + miners. But plan for the worst and hope for the best Smiley

I view it as a semi profitable hobby more than anything else.
finbad2
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March 26, 2014, 10:53:54 PM
 #16037

the only thing that would make this hobby "fun" at this time, is if the USD/BTC exchange went top $1200 again.

I blame that moron that ran MT. GoX. for taking back bitcoin 5 to 10 years.

the bottom line is, USD/BTC  < $1200   not going to work.


sorry , just calling a spade a spade.
amspir
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March 26, 2014, 11:03:33 PM
 #16038

the only thing that would make this hobby "fun" at this time, is if the USD/BTC exchange went top $1200 again.

I blame that moron that ran MT. GoX. for taking back bitcoin 5 to 10 years.

the bottom line is, USD/BTC  < $1200   not going to work.

sorry , just calling a spade a spade.

I doubt that it will take 5-10 years (which makes it advantageous to mine for 5-10 years until it goes up)

I have faith that Coinbase and Bitpay are going to make some serious inroads for the masses in the USA regarding bitcoin.  mtGox is like myspace, just because it failed doesn't mean the whole idea of social media failed.
finbad2
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March 26, 2014, 11:25:28 PM
 #16039

when your target market is 7 billion people, it can take seconds to advance, and decades to make up the decline.

still,  I keep all the "golddust" I capture ,  for the future.

but my original point was, from a mining perspective, the cost at 600USD a "ton" is just not economical.

;O)


TRSundown
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March 27, 2014, 05:01:56 AM
 #16040

ARG!!! Mining_Proxy went down!!! Wont re-connect...

Failure: stratum.custom_exceptions.TransportException: SocketTransportClientFactory connection timed out

WTF does that mean!!!???

My whole mining setup is down! Damn IT!!!! Angry Angry Angry Angry
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