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Author Topic: What if mining suddenly becomes unprofitable for most miners?  (Read 6832 times)
niothor
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October 13, 2013, 06:02:42 PM
 #61

Mining is extremely profitable against running costs right now.  You don't need any higher exchange rate for that.

And now?

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October 13, 2013, 06:22:48 PM
 #62

Mining is extremely profitable against running costs right now.  You don't need any higher exchange rate for that.

And now?

1)  0.6 W / GHash = 0.6 kW / THash =>  1200 kW / 2000 THash
2)  if you will mine 1 hour then it will cost  1200 kW * $0.15/kWh = $180   and you will mine 6 * 25 BTC =  150 BTC
============
result: running costs are 100 times lower than bitcoin price if you are using 0,28 nm asics  (but hardware is too expensive)
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October 13, 2013, 06:31:44 PM
 #63

Mining is extremely profitable against running costs right now.  You don't need any higher exchange rate for that.

And now?

1)  0.6 W / GHash = 0.6 kW / THash =>  1200 kW / 2000 THash
2)  if you will mine 1 hour then it will cost  1200 kW * $0.15/kWh = $180   and you will mine 6 * 25 BTC =  150 BTC
============
result: running costs are 100 times lower than bitcoin price if you are using 0,28 nm asics  (but hardware is too expensive)

Can you please tell me where does this come from?

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October 13, 2013, 06:47:07 PM
 #64

Mining is extremely profitable against running costs right now.  You don't need any higher exchange rate for that.

And now?

1) 0.6 W / GHash = 0.6 kW / THash =>  1200 kW / 2000 THash
2)  if you will mine 1 hour then it will cost  1200 kW * $0.15/kWh = $180   and you will mine 6 * 25 BTC =  150 BTC
============
result: running costs are 100 times lower than bitcoin price if you are using 0,28 nm asics  (but hardware is too expensive)

Can you please tell me where does this come from?

1. Power cost (USD/kWh)  $0.15
2. http://cointerra.com/product/terraminer-ii-1ths-networked-miner-january-batch/  28 nm asic  1 THash/600 Watts
EDIT: or http://www.butterflylabs.com/monarch/
EDIT1: https://hashfast.com/shop/baby-jet-third-batch/
3. Network total   2164.711 Thash/s  (now)  http://bitcoin.sipa.be/

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October 13, 2013, 06:53:27 PM
 #65

Mining is extremely profitable against running costs right now.  You don't need any higher exchange rate for that.

And now?

1) 0.6 W / GHash = 0.6 kW / THash =>  1200 kW / 2000 THash
2)  if you will mine 1 hour then it will cost  1200 kW * $0.15/kWh = $180   and you will mine 6 * 25 BTC =  150 BTC
============
result: running costs are 100 times lower than bitcoin price if you are using 0,28 nm asics  (but hardware is too expensive)

Can you please tell me where does this come from?

1. Power cost (USD/kWh)  $0.15
2. http://cointerra.com/product/terraminer-ii-1ths-networked-miner-january-batch/  28 nm asic  1 THash/600 Watts
3. Network total   2164.711 Thash/s  (now)  http://bitcoin.sipa.be/



The thing is that you can't mine with that now Smiley you'll be able to mine in January
And unfortunately most of the network hash isn't provided by KNC , it is composed mostly of the last generation mining equipment.

I made the mistake of overlooking he said the running cost and thinking about mining cost (which does  involve the cost of equipment) but still don't think getting into mining was my brightest idea.

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October 13, 2013, 06:58:56 PM
 #66

Mining is extremely profitable against running costs right now.  You don't need any higher exchange rate for that.

And now?

1) 0.6 W / GHash = 0.6 kW / THash =>  1200 kW / 2000 THash
2)  if you will mine 1 hour then it will cost  1200 kW * $0.15/kWh = $180   and you will mine 6 * 25 BTC =  150 BTC
============
result: running costs are 100 times lower than bitcoin price if you are using 0,28 nm asics  (but hardware is too expensive)

Can you please tell me where does this come from?

1. Power cost (USD/kWh)  $0.15
2. http://cointerra.com/product/terraminer-ii-1ths-networked-miner-january-batch/  28 nm asic  1 THash/600 Watts
3. Network total   2164.711 Thash/s  (now)  http://bitcoin.sipa.be/



The thing is that you can't mine with that now Smiley you'll be able to mine in January
And unfortunately most of the network hash isn't provided by KNC , it is composed mostly of the last generation mining equipment.

I made the mistake of overlooking he said the running cost and thinking about mining cost (which does  involve the cost of equipment) but still don't think getting into mining was my brightest idea.

We had 19 THash at the begin of the year.  Now we have 2200 THash (so 19 THash is old HW  and 2180 is new one .. asics)

Edit: and at the end of year we will have 10,000 - 20,000 THash ... new 28 nm asics
niothor
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October 13, 2013, 07:10:45 PM
 #67


We had 19 THash at the begin of the year.  Now we have 2200 THash (so 19 THash is old HW  and 2180 is new one .. asics)

Edit: and at the end of year we will have 10,000 - 20,000 THash ... new 28 nm asics

yeah , but those are running at 6-10W/GH , which is 10 times more at best.
Well it still leaves room against the current electric bill but I doubt that will see any mining equipment bought before August still running in January.

My point was that miners who haven't changed their equipment are having a hard time right now.

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