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Author Topic: Why You Haven't Seen Miners Leave in Hordes.....  (Read 7111 times)
DeathAndTaxes
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Gerald Davis


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October 04, 2011, 10:00:56 PM
 #61

Your friend is clueless or hasn't mined in a very very very very long time.

At 400MH/s (your current speed?) and current difficulty you will find about 1 block per 193 days not 1 block per day.  The chance of finding 1 block in 1 day @ 400MH/s is 1 in 200.  The chance you would find 1 block a day for 3 days in a row is roughly 1 in 8,000,000.

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October 04, 2011, 10:11:58 PM
 #62

@DeathAndTaxes I think what his friend meant is after a day the pool will have found and verified a block, so he'd get his first payment.

@OP, As for the returns, if it was as profitable as printing money, everyone would do it Smiley. The reality is, its not profitable (anymore) unless you have cheap electricity. It doesnt matter if you have 1 card or 1000. The revenue scales linearly but so do the electricity costs. You can calculate it fairly precisely here:
http://bitcoinx.com/profit/

All that said, these days are the worst days in bitcoin mining history; the price is down by a lot and difficulty has not come down yet to match the lower global hashrate. There is a delay. Its coming down, and who knows, with some luck price will go up a bit, but even so, its never going to be lucrative if you have expensive electricity.

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October 05, 2011, 12:43:58 AM
 #63

Well,not mining on my 6970 crossfire setup until BTC goes up to at least $10 per.Still running my 6950 @ 360mhs though.

I'm in Fla with 11 cents per kwh,@ $80 a month extra for all rigs,just not enough margin for me.Just the 1 little rig will be around $20 month,I can cover that with my wages.

I'll be playin BF3 & BC2 with my big rig Grin

"If you run into an asshole in the morning, you ran into an asshole. If you run into assholes all day long, you are the asshole."  -Raylan Givens
Got GOXXED ?? https://www.youtube.com/watch?v=9KiqRpPiJAU&feature=youtu.be
"An ASIC being late is perfectly normal, predictable, and legal..."Hashfast & BFL slogan Smiley
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