Bitcoin Forum
December 08, 2016, 12:06:48 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 [2]  All
  Print  
Author Topic: Mining for the Sub 1GH Rig a thing of the past?  (Read 3125 times)
Jack of Diamonds
Sr. Member
****
Offline Offline

Activity: 252



View Profile
July 12, 2011, 08:23:56 PM
 #21

Less than $1k per month and I'll call it quits. At that point you are earning barely over 30 bucks a day. Not worth all the effort spent on monitoring and worrying.

Fiat income aside, I'll always keep a reserve of BTC regardless of their price for future speculation & possible bitcoin purchases

1f3gHNoBodYw1LLs3ndY0UanYB1tC0lnsBec4USeYoU9AREaCH34PBeGgAR67fx
1481198808
Hero Member
*
Offline Offline

Posts: 1481198808

View Profile Personal Message (Offline)

Ignore
1481198808
Reply with quote  #2

1481198808
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1481198808
Hero Member
*
Offline Offline

Posts: 1481198808

View Profile Personal Message (Offline)

Ignore
1481198808
Reply with quote  #2

1481198808
Report to moderator
jackjack
Hero Member
*****
Offline Offline

Activity: 882


May Bitcoin be touched by his Noodly Appendage


View Profile
July 12, 2011, 08:27:51 PM
 #22

ITT: FUD

Own address: 19QkqAza7BHFTuoz9N8UQkryP4E9jHo4N3 - Pywallet support: 1AQDfx22pKGgXnUZFL1e4UKos3QqvRzNh5 - Bitcointalk++ script support: 1Pxeccscj1ygseTdSV1qUqQCanp2B2NMM2
Pywallet: instructions. Encrypted wallet support, export/import keys/addresses, backup wallets, export/import CSV data from/into wallet, merge wallets, delete/import addresses and transactions, recover altcoins sent to bitcoin addresses, sign/verify messages and files with Bitcoin addresses, recover deleted wallets, etc.
JBDive
Full Member
***
Offline Offline

Activity: 238


View Profile
July 12, 2011, 09:26:28 PM
 #23

solo mining is of course not realistic with sub 1GH. But mine at a pool, why do you care what your speed is. As long as it is efficient power usage. No less than 1MH per watt used, you'll be profitable.

Profitable and making sense are two different things. Sure I can make .01BTC and call it a profit but what damn good does .01BTC do me unless I have a 100 of those. This is my point that the small rigs are being driven out of the market, will that drop is processing power be picked up by newbies and big rigs getting bigger?

I surmise that the small rig geeks will stick it out for as long as possible however two things will start happening. First those basement geeks who actually do pay for the equipment, time and power will drop off mining as the geekness wears out when they see the best they can do is pull in a BTC a week, sure they may go out and buy another card and try to fight the tape as the saying goes but sooner or later they will say heck with it, go big or go home. Second I assume there are a number of kids mining away and will we see a drop off of those kids as they go to school this fall? Most won't take their desktops to college so it will sit at home doing nothing while High Schoolers will get involved with the things high schoolers get involved with and loose interest in ever expanding their BTC processing power, then again if geeky enough they may have no HS life Wink

Wheres the line between what is profit and what makes sense? I tossed out the 1GH number, maybe that's a touch high still at this difficulty but BTC pricing which just can't seem to find a home could make that 1GH the right number.
nazgulnarsil
Full Member
***
Offline Offline

Activity: 224


View Profile
July 12, 2011, 09:42:46 PM
 #24

It's a silly way to judge things because people don't really care about Mh, they care about profitability.  If the price jumps to $100 earning .1 a day is still worth it.

The next couple difficulty jumps look like they will be under 5%.  Unless there is a major price move mining will stay worth it for small timers like me for months.
grod
Full Member
***
Offline Offline

Activity: 154


View Profile
July 13, 2011, 01:17:48 AM
 #25


Profitable and making sense are two different things. Sure I can make .01BTC and call it a profit but what damn good does .01BTC do me unless I have a 100 of those. This is my point that the small rigs are being driven out of the market, will that drop is processing power be picked up by newbies and big rigs getting bigger?

You make zero sense.  I'd take .01 of a BTC valued at a quarter million dollars over 1000 btc valued at a penny.  And no, solo mining does NOT have the same payout as pooled mining.  Unless you have many tens (hundreds?) of gigahash to throw at the problem odds are difficulty will increase before you find your first 50 coins.   And increase again, and again, and again and again.  You may *NEVER* find a coin solo mining, whereas with a pool you receive ROI immediately.


Quote
Wheres the line between what is profit and what makes sense? I tossed out the 1GH number, maybe that's a touch high still at this difficulty but BTC pricing which just can't seem to find a home could make that 1GH the right number.

Once again you are making $8/day today with 1Gh.  With the most efficient building possible that was possible on a sub-$600 investment (5830@ $100 x 3, $15 mboard, $40 cpu, $20 ram, $20 pcie extenders, $80 psu, $4 usb stick).  That's a 1.3% *DAILY* return on investment as a small operator.   If I was sure profitability would remain comprable I'd be investing tens of thousands of dollars into such an operation even today with a ~25% higher hardware cost.
JBDive
Full Member
***
Offline Offline

Activity: 238


View Profile
July 13, 2011, 03:46:28 AM
 #26


Profitable and making sense are two different things. Sure I can make .01BTC and call it a profit but what damn good does .01BTC do me unless I have a 100 of those. This is my point that the small rigs are being driven out of the market, will that drop is processing power be picked up by newbies and big rigs getting bigger?

You make zero sense.  I'd take .01 of a BTC valued at a quarter million dollars over 1000 btc valued at a penny.  And no, solo mining does NOT have the same payout as pooled mining.  Unless you have many tens (hundreds?) of gigahash to throw at the problem odds are difficulty will increase before you find your first 50 coins.   And increase again, and again, and again and again.  You may *NEVER* find a coin solo mining, whereas with a pool you receive ROI immediately.


Quote
Wheres the line between what is profit and what makes sense? I tossed out the 1GH number, maybe that's a touch high still at this difficulty but BTC pricing which just can't seem to find a home could make that 1GH the right number.

Once again you are making $8/day today with 1Gh.  With the most efficient building possible that was possible on a sub-$600 investment (5830@ $100 x 3, $15 mboard, $40 cpu, $20 ram, $20 pcie extenders, $80 psu, $4 usb stick).  That's a 1.3% *DAILY* return on investment as a small operator.   If I was sure profitability would remain comprable I'd be investing tens of thousands of dollars into such an operation even today with a ~25% higher hardware cost.


Please link me to that $15 mboard as I will buy 7 tomorrow.
whirlpool
Member
**
Offline Offline

Activity: 106


View Profile
July 13, 2011, 03:51:22 AM
 #27

For the time being, difficulty seems to have leveled out, so even if someone has a sub-1 Gh/s, it's still fairly profitable.

grod
Full Member
***
Offline Offline

Activity: 154


View Profile
July 13, 2011, 04:33:29 AM
 #28


Please link me to that $15 mboard as I will buy 7 tomorrow.

They come and they go.  Here, this one only needs one PCIe extender to house 3 cards: http://3btech.net/as77pe453mow1.html
Jack of Diamonds
Sr. Member
****
Offline Offline

Activity: 252



View Profile
July 13, 2011, 06:58:47 AM
 #29


Please link me to that $15 mboard as I will buy 7 tomorrow.

They come and they go.  Here, this one only needs one PCIe extender to house 3 cards: http://3btech.net/as77pe453mow1.html

That's refurbished and it costs $27.99.

New boards can be bought at 40 bucks

1f3gHNoBodYw1LLs3ndY0UanYB1tC0lnsBec4USeYoU9AREaCH34PBeGgAR67fx
JBDive
Full Member
***
Offline Offline

Activity: 238


View Profile
July 13, 2011, 07:02:08 AM
 #30


Please link me to that $15 mboard as I will buy 7 tomorrow.

They come and they go.  Here, this one only needs one PCIe extender to house 3 cards: http://3btech.net/as77pe453mow1.html

That's closer to $30 than $15 and a refurb. Have you used that site before? Trust them?
NetTecture
Full Member
***
Offline Offline

Activity: 140


View Profile
July 13, 2011, 07:48:42 AM
 #31

Once again you are making $8/day today with 1Gh.  With the most efficient building possible that was possible on a sub-$600 investment (5830@ $100 x 3, $15 mboard, $40 cpu, $20 ram, $20 pcie extenders, $80 psu, $4 usb stick).  That's a 1.3% *DAILY* return on investment as a small operator.   If I was sure profitability would remain comprable I'd be investing tens of thousands of dollars into such an operation even today with a ~25% higher hardware cost.

But it still is no real money. Because 1.3% fdaily of no moneyi s still no money.

Dont get me wrong - I see tit as a viable investment, But to be viable in absolute numbers you need to INVEST.

or, to put it into perspective - I need mining to be on my radar in a way that produces significant income for me, in EUR. Not in percent. if that means putting in 20.000 EUR then so be it - 1% of 20.000 us EUR 200 a day. Not a significant amount of money for some people, but enough for some attention.

8 USD is pityful.

So yes, the dys of 1ghz single setups are over. Scale up.
nazgulnarsil
Full Member
***
Offline Offline

Activity: 224


View Profile
July 13, 2011, 08:41:32 AM
 #32

yes, because mining as a full time job is the only smart move  Roll Eyes
Jack of Diamonds
Sr. Member
****
Offline Offline

Activity: 252



View Profile
July 13, 2011, 09:26:28 AM
 #33

Once again you are making $8/day today with 1Gh.  With the most efficient building possible that was possible on a sub-$600 investment (5830@ $100 x 3, $15 mboard, $40 cpu, $20 ram, $20 pcie extenders, $80 psu, $4 usb stick).  That's a 1.3% *DAILY* return on investment as a small operator.   If I was sure profitability would remain comprable I'd be investing tens of thousands of dollars into such an operation even today with a ~25% higher hardware cost.

But it still is no real money. Because 1.3% fdaily of no moneyi s still no money.

Dont get me wrong - I see tit as a viable investment, But to be viable in absolute numbers you need to INVEST.

or, to put it into perspective - I need mining to be on my radar in a way that produces significant income for me, in EUR. Not in percent. if that means putting in 20.000 EUR then so be it - 1% of 20.000 us EUR 200 a day. Not a significant amount of money for some people, but enough for some attention.

8 USD is pityful.

So yes, the dys of 1ghz single setups are over. Scale up.

Finally someone who gets the point.

Paying off a $500 rig over 3 months does not "pay off" financially. That's a few dollars every day.

Paying off a $20,000 cluster over 3 months pays off. Not only is everything after that pure profit (even after difficulty increases about $50-$100 a day perhaps),
plus you can sell the rig for at least 75% of it's value a few months down the road or use it for your other purposes.

Both will pay themselves off eventually (unless price collapses or difficulty skyrockets), the only variable is how much risk you are willing to take.

1f3gHNoBodYw1LLs3ndY0UanYB1tC0lnsBec4USeYoU9AREaCH34PBeGgAR67fx
Pages: « 1 [2]  All
  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!