Only buy 1+ Terahash or more Bitcoin miners hardware

[mgio]

Currently my 60gh single uses $1.50 in electricity to generate 1 btc. At 10x the current difficulty it will cost $15 to generate 1 btc. At 100x, or 11,262,855,200 difficulty, it will cost $150 and take about 1 year to generate 1 btc.

1 btc currently equals $140

Do you think I will be turning it off anytime soon?

At a 30% increase each time, it will take 13 more difficulty changes to reach near 11 billion. 13 x 11.5 days each cycle is 150 more days til we get to a point where I may have to shut down my miner if things continue as they are.

And how much is your electricity cost?  Must be next to nothing, if you even pay for it. I think you made a serious miss calculation. How about you show the math?

I'll do the math.

A 60GH/s single uses about 280 watts (correct me if I'm wrong). That is 6.720 kwh per day.

It mines 0.2679 BTC a day. That means it takes 3.7327 days to mine a coin. 3.7327 * 6.720 = 25.084 kwh to mine a coin.

If it only costs $1.50 to mine a coin then your electricity must cost 1.50 / 25.084 = 6 cents per kwh. That seems a bit low.

[bobsag3]

Currently my 60gh single uses $1.50 in electricity to generate 1 btc. At 10x the current difficulty it will cost $15 to generate 1 btc. At 100x, or 11,262,855,200 difficulty, it will cost $150 and take about 1 year to generate 1 btc.

1 btc currently equals $140

Do you think I will be turning it off anytime soon?

At a 30% increase each time, it will take 13 more difficulty changes to reach near 11 billion. 13 x 11.5 days each cycle is 150 more days til we get to a point where I may have to shut down my miner if things continue as they are.

And how much is your electricity cost?  Must be next to nothing, if you even pay for it. I think you made a serious miss calculation. How about you show the math?

I'll do the math.

A 60GH/s single uses about 280 watts (correct me if I'm wrong). That is 6.720 kwh per day.

It mines 0.2679 BTC a day. That means it takes 3.7327 days to mine a coin. 3.7327 * 6.720 = 25.084 kwh to mine a coin.

If it only costs $1.50 to mine a coin then your electricity must cost 1.50 / 25.084 = 6 cents per kwh. That seems a bit low.

I get .06  here if I am +25kw peak demand.

[navigator]

My electric cost is $0.044-$0.076/kwh. My single does 63.5gh/s @ 310 watts. I have seen the wattage vary from 306-333watts, but its at 312 right now.

Goto http://allchains.info/calc.html and plug in those numbers. These are just rough estimates though. I'm not counting pool fee, etc.. I used $0.06 for electric cost., so it cost me about $0.45/day to run my single. And currently it makes .28btc/day. So about 3.5 days to generate 1 btc. 3.5days * $.45/day is about $1.5 to generate a btc.

Do you really need to see more math? My numbers aren't exact, I'm just trying to guesstimate how long my single will be viable for mining. Much longer than this troll post would have you believe.

[bcp19]

Currently my 60gh single uses $1.50 in electricity to generate 1 btc. At 10x the current difficulty it will cost $15 to generate 1 btc. At 100x, or 11,262,855,200 difficulty, it will cost $150 and take about 1 year to generate 1 btc.

1 btc currently equals $140

Do you think I will be turning it off anytime soon?

At a 30% increase each time, it will take 13 more difficulty changes to reach near 11 billion. 13 x 11.5 days each cycle is 150 more days til we get to a point where I may have to shut down my miner if things continue as they are.

And how much is your electricity cost?  Must be next to nothing, if you even pay for it. I think you made a serious miss calculation. How about you show the math?

By my calculations, it'd take me 19.4kw to generate 1BTC(30GH@110watts).  At $.08/kw I think that's about $1.55.

[GigaWave]

My electric cost is $0.044-$0.076/kwh. My single does 63.5gh/s @ 310 watts. I have seen the wattage vary from 306-333watts, but its at 312 right now.

Goto http://allchains.info/calc.html and plug in those numbers. These are just rough estimates though. I'm not counting pool fee, etc.. I used $0.06 for electric cost., so it cost me about $0.45/day to run my single. And currently it makes .28btc/day. So about 3.5 days to generate 1 btc. 3.5days * $.45/day is about $1.5 to generate a btc.

Do you really need to see more math? My numbers aren't exact, I'm just trying to guesstimate how long my single will be viable for mining. Much longer than this troll post would have you believe.

Thing is your original post will mislead people also, by not showing the math and your situation being the exception, not the rule.

My single pulls 330W(and my KWH/$ is double yours easy if not more, and IIRC most of the USA is in a similar range), don't forget you now have to remove that heat(and this will vary from situation to situation). Historically, miners are not going to mine a such a loss IE 11Billion Difficulty with a BFL Single 60Gh.  A historical fact, before ASIC's(FPGA were around for a year, and this is when bitcoin had its first bubble to $30), if it took longer than about 6 months to get a ROI, people started shutting down. After the block reward halving that moved to about 8-10 months(estimate as only a few months passed before ASIC's started showing up).

Reason I'm making a point of this, is that this over buying of ASIC's is screwing many people. They don't do the math and loose money. Or they do the math incorrectly and don't look at the available facts and loose money. It's sad to see all these companies making a killing by  scamming their so called customers(More like swindled investors).

[polarhei]

It is possible to get 4X256Gh/s to work. However there are many delays, also the cooling problem can be critical.

Thank you for the advice, however I will switch to Scrypt mining before the SHA-2 raw mining.

[jeffhuys]

It's so funny to watch these kind of posts. Oh well, bitcoin will still prevail... I hope.

[Wipeout2097]

This is nonsense.

What you should or should not buy depends on Mh/$ of the devices, taking a look at the cost of power at your particular location.

I'd buy block erupters if they were $5 each.

[pedrog]

This is nonsense.

What you should or should not buy depends on Mh/$ of the devices, taking a look at the cost of power at your particular location.

I'd buy block erupters if they were $5 each.

That's $15/GH/s at 7.5w?

At that price I would buy it, just for the fun...

[CoinHoarder]

My expert market analysts have decided the opposite is true.

Only buy 1 Th or less of Bitcoin miners or else you will be unprofitable.

[spoiler]


Everyone knows dogs are smarter than cats...      
[/spoiler]

[LilGhost]

So what I'm gathering from this original post is "Only let people who want to invest $3000+ invest in mining bitcoins so they can control the market" honestly, a TH/s+ miner will ruin bitcoin because then on a few people will be able to afford to mine bitcoins profitably. But then again, if you're mining in a pool i guess it doesn't matter. The issue is nobody wants to see the bitcoin market owned by only a few people.

That all being said, unless you're getting a good price, buying something like Block Erupters or lower will be unprofitable.

[pedrog]

My expert market analysts have decided the opposite is true.

Only buy 1 Th or less of Bitcoin miners or else you will be unprofitable.

[spoiler]


Everyone knows dogs are smarter than cats...      
[/spoiler]

Hahaha, so much win here. 

[CoinHoarder]

Pedrog ty- I try... sometimes.  

So what I'm gathering from this original post is "Only let people who want to invest $3000+ invest in mining bitcoins so they can control the market" honestly, a TH/s+ miner will ruin bitcoin because then on a few people will be able to afford to mine bitcoins profitably. But then again, if you're mining in a pool i guess it doesn't matter. The issue is nobody wants to see the bitcoin market owned by only a few people.

On a more serious note, this thread title is misleading. What really matters is a combination of:
- $$$$ per Gh
- Watts per Gh
- Time of delivery

No factor is more important than the other... You can buy 1,000 Gh delivered tomorrow, but if that 1,000 Gh cost you $75/Gh (ASICMINER USBs), it is unlikely you will break even. On the opposite end of the spectrum... you can buy 1,000 Gh at $3.00/Gh (CoinTerra IV Jan), but if it is delivered in Febuarary 2014 it is unlikely you will break even.

All factors are interchangeable and ROI depends on one factor just as much as the other. It basically comes down to trusting your source of mining equipment that they will deliver the miners to the specifications originally advertised AND delivering on time or early. If manufacturers are a month or more late, most mining hardware will likely lose money.

Utilize safe forms of payments such as Paypal and Credit Cards to protect yourself. Look for a company with a solid customer protection plan. Read through all the caveats of the mining protection plans, as some of these companies are kind of slimy.... some of the customer protection plans really aren't worth much at all due to the unfavorable wording.

My two satoshis.  

[neutralist]

Mining is the only way to get BTC anonymously.

[AndrewWilliams]

I'm surprised Actor Tom Trong didn't blame the Jooooooooz like he does on his webpage.

[neutralist]

I'm surprised Actor Tom Trong didn't blame the Jooooooooz like he does on his webpage.

Zionist != Jooooooz 

[cowandtea]

Wrong, you should calculate it in term of price per GH/s and KWH/GH/s.

[Amph]

oh look is the same thing again lmao

[Zaghomat]

My electric cost is $0.044-$0.076/kwh. My single does 63.5gh/s @ 310 watts. I have seen the wattage vary from 306-333watts, but its at 312 right now.

Goto http://allchains.info/calc.html and plug in those numbers. These are just rough estimates though. I'm not counting pool fee, etc.. I used $0.06 for electric cost., so it cost me about $0.45/day to run my single. And currently it makes .28btc/day. So about 3.5 days to generate 1 btc. 3.5days * $.45/day is about $1.5 to generate a btc.

Do you really need to see more math? My numbers aren't exact, I'm just trying to guesstimate how long my single will be viable for mining. Much longer than this troll post would have you believe.

lol, and when difficulty is x5, do you realise you will be needing 5x the time to mine your bitcoin (5x the electricity too...) so depending on btc price your number are way off

[samo]

I guess he was right lol, after all the jibes and cracks this guy was right, must feel like noah when everybody was cracking on him about a great flood until it started to pour, the hash rate will be well over 500 million by the end of the year. Hence even a dead clock is right, twice a day...