Avg yield from Avg mining pool?

[HippiePyro]

What would you say is the Avg daily yield from mining bit coin with and average rig in an Avg pool? Nothing fancy, just averages. How many satoshi a day? I'm curious if there's more money in mining with my limited budget ($1000) or if my automated faucets would be about the same and then use my 1k for investing. I understand that mining would use all my Internet so the faucets would not work.  Thanks for your time.

[VRobb]

On average you'd get the expected amount, plus a proportional amount of the txn fees if you don't mine at a pool that keeps it for themselves.  What's the expected amount?  Need more data - plug your numbers into here: https://bitcoinwisdom.com/bitcoin/difficulty

[HippiePyro]

Well Ill ask a different way. I'm making about 250-300k satoshi a day from faucets. I already have the hardware for this and I can still day trade while they are running. Would I make more than that if I were to spend $1k on a rig and start pool mining? I've never mined, so I'm not sure the specifics you asked for.

[VRobb]

Are you sure you got your decimal point in the right place?  250k-300k satoshis is .0025 to .003 BTC per day and that's equivalent to a current ASIC miner...

[HippiePyro]

Yes that corrwct. $5-7 pending on bitcoin price. The amounts may go down with the recent spike in btc price. Mind you that's the collective total of 3-6 faucets and offer walls running all day. It uses a bit of power but I get all I can use for  a flat fee.

[VRobb]

Wow, been a long time since I looked into faucets, and at best it was a few thousand satoshis a day then. If you don't mind fiddling with them I'd say save your money, or buy BTC directly and hold.

[HippiePyro]

OK may have been a bit off on my math, more like 125k to 175k. Still not bad I guess.
99% of faucets are a waste. There's a few good ones. I suppose the offer walls are where I'm really getting from. And my referral bonuses. The best ones are those that have videos that you can let run or that accumulate till you claim. Not traditional faucets I suppose.
I thought miners got a tip of like 20k satori per transaction? Ain't that what the fee is for?

[VRobb]

I think you're confusing the transaction fee with the block reward.  The block reward is where most of the mining income comes from (for now) with transactions accounting for around 10% more give or take depending on which/how many transactions are in the block.
Eventually there will only be the transaction fees rewarded per block solved, but that's quite a bit in the future yet.

[HippiePyro]

The block reward was 12.5 btc per block, correct? The 12.5 NEW BTC being generated as a reward for the block. Does the transaction fee also only goes to the first miner to add that transaction to the blockchain?

[VRobb]

It is split amongst all in the pool proportionately as the block reward, assuming you're mining at a pool where the txn fees are given to the miners. Not all do.

[bitcoinmaniac52]

What would you say is the Avg daily yield from mining bit coin with and average rig in an Avg pool? Nothing fancy, just averages. How many satoshi a day? I'm curious if there's more money in mining with my limited budget ($1000) or if my automated faucets would be about the same and then use my 1k for investing. I understand that mining would use all my Internet so the faucets would not work.  Thanks for your time.

Hi,

Based on my experience having been involved with Bitcoin for a few years and done lots of mining, I would say $1,000 is too little to get started, and is much better used buying and holding or trading.

For example, it will take a few years to get your money back from mining, whereas buying Bitcoin last week would result in a return of 20% on your money already.

[HippiePyro]

Do yall think the prices of mining equipment are proportional to the cost of production? Or do they add quite a bit since it is specially  designed and not reusable in a few years

[gbBit]

Do yall think the prices of mining equipment are proportional to the cost of production? Or do they add quite a bit since it is specially  designed and not reusable in a few years

The price of mining equipment is determined like almost everything in this world where the person and/or company selling a product looks to see what's the most amount they can get out of that product and then sets the price to make as much as possible.  The cost of production is only used to make the decision as to whether to sale or not.  Look at some basic marketing strategies if the previous statements didn't make sense.

Now how companies such as Bitmain sets the price of miners is a mystery, but my guess is do a simple future value calculation with some more complicated variables for BTC price, difficultly, reliability, etc.  They will want to be sure you make a little bit of profit to ensure you return for the next model.  Before making a purchase I recommend you make a similar calculation and determine if the difference (risk) between gain and break-even is enough to make a purchase worthwhile.  There's a link to what I think is the best calculator above to determine this.  As a cheat you can check the prices on eBay to see approximately the current FV.  Auctions on there usually end a little bit higher than what I calculate.