Bitcoin Forum
December 09, 2016, 09:29:22 PM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Profitability gone?  (Read 646 times)
ManOfKnight
Full Member
***
Offline Offline

Activity: 145


View Profile
July 06, 2011, 10:55:32 PM
 #1

I just ran the numbers after getting a Kill-A-Watt

I have a 6970 running about 400MH/s

My system is pushing about 340 watts which using the profitability calculator comes out to only about $91 over electricity costs a month...that is NOT COUNTING increases in mining times coming up next week.  In the past, the price would go up...but it has been hovering around 14-16 for weeks now.  If the price doesn't go up soon...small time miners are going to have to quit.

Even us that only have .0915 kWh prices.

Striking it rich in Bitcoin is no longer an option...I do it for fun.
*Image Removed*
1481318962
Hero Member
*
Offline Offline

Posts: 1481318962

View Profile Personal Message (Offline)

Ignore
1481318962
Reply with quote  #2

1481318962
Report to moderator
1481318962
Hero Member
*
Offline Offline

Posts: 1481318962

View Profile Personal Message (Offline)

Ignore
1481318962
Reply with quote  #2

1481318962
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1481318962
Hero Member
*
Offline Offline

Posts: 1481318962

View Profile Personal Message (Offline)

Ignore
1481318962
Reply with quote  #2

1481318962
Report to moderator
cryptomint
Member
**
Offline Offline

Activity: 60


View Profile
July 06, 2011, 10:59:01 PM
 #2

I'm pretty sure your calculation is way off.
cryptomint
Member
**
Offline Offline

Activity: 60


View Profile
July 06, 2011, 11:03:44 PM
 #3

340w @ 0.0915 kWh running 24/7 should be:

Cost Per Hour:    $0.031110
Cost Per Day:    $0.746640
Cost Per Week:    $5.226
Cost Per Month: $20.91
Cost Per Year:    $271.78

Unless the calculator I used is wrong.
ManOfKnight
Full Member
***
Offline Offline

Activity: 145


View Profile
July 06, 2011, 11:49:32 PM
 #4

I thought the price per month was way high as well...but i had it set to one month.

Here is what I have:

http://bitcoinx.com/profit/

Difficulty:                 1563027
Hash rate:                395Mh/s
Time frame:              1 month
Electricity rate:          0.0915
Power consumption:   350
Coins per Block:         50
Conversion rate:         $14.72

LOL...nevermind...WOW...I guess lack of sleep is kicking in.  I was looking at the after power and thinking that was how much the power cost.

Revenue per day: 3.74 USD
      ... less power costs: 2.97 USD

Revenue per time frame: 113.89 USD
      ... less power costs: 90.49 USD

Hardware break even: 0 seconds
Net profit first time frame: 90.49 USD


KILL THIS THREAD PLEASE...I APOLOGIZE FOR MY MOMENTARY LAPSE OF SITUATIONAL AWARENESS.

Striking it rich in Bitcoin is no longer an option...I do it for fun.
*Image Removed*
cryptomint
Member
**
Offline Offline

Activity: 60


View Profile
July 06, 2011, 11:54:13 PM
 #5

Lack of sleep will do that  Smiley
ManOfKnight
Full Member
***
Offline Offline

Activity: 145


View Profile
July 07, 2011, 12:03:38 AM
 #6

Thanks for understanding.   Wink

Striking it rich in Bitcoin is no longer an option...I do it for fun.
*Image Removed*
BitcoinHost.co.uk
Newbie
*
Offline Offline

Activity: 10


View Profile WWW
July 08, 2011, 12:46:55 AM
 #7

I just ran the numbers after getting a Kill-A-Watt

I have a 6970 running about 400MH/s

I'm running a RADEON 5850HD at about 340MH/s and the power consumption is an additional £0.06 per hour when mining or £1.44 a day, based on 10p per KW/h (prices in GBP)

I use one of these:

http://www.6thplanet.com/store/product/hohominim_l.jpg

-=# Ben Coulson #=-
Web Hosting for Bitcoins
old_engineer
Sr. Member
****
Offline Offline

Activity: 387


View Profile
July 08, 2011, 02:59:46 AM
 #8

Those with subsidized electricity costs, or with access to free electricity, are those destined to sell btc at below market rate.

For everyone else, I think mining will become seasonal, with northern hemisphere miners running full-tilt in their winter, using the heat to help power their homes (double duty), and southern hemisphere miners turning off their rigs through the summer so they don't have to pay to both run their rigs + pay for extra A/C to cool their houses.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!