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Author Topic: How fast is the bitcoin network's spread?  (Read 261 times)
mocacinno
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May 05, 2020, 09:37:38 AM
 #21

You seem to have much knowledge. Do you mine?

I used to be a home miner a long, long, long time ago... I live in a country where the electricity price is really, really, really high making it completely impossible to break even. If i would buy the latest gen ASIC, or try to mine GPU or CPU minable coins, i'd just be stuffing my money into the pockets of the electric company. I'd have negative profits from the moment i ordered the ASIC to the moment i decided to pull the plug (because of the negative profits).

To bad, mining was fun...

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According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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BlackHatCoiner (OP)
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May 05, 2020, 09:42:33 AM
 #22

You seem to have much knowledge. Do you mine?

I used to be a home miner a long, long, long time ago... I live in a country where the electricity price is really, really, really high making it completely impossible to break even. If i would buy the latest gen ASIC, or try to mine GPU or CPU minable coins, i'd just be stuffing my money into the pockets of the electric company. I'd have negative profits from the moment i ordered the ASIC to the moment i decided to pull the plug (because of the negative profits).

To bad, mining was fun...

Talking about electricity. How much money do you need for finding let's say 1 trillion hashes per second?

.
.HUGE.
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mocacinno
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May 05, 2020, 10:08:10 AM
Merited by DdmrDdmr (1)
 #23

--snip--
Talking about electricity. How much money do you need for finding let's say 1 trillion hashes per second?

Depends on your power price, ASIC price, ASIC type and "other costs" (shelves, network gear, cabling, S&H, taxes,...)

I'll do a quick guestimation for one of the newest, general available ASICs (usually, the newer the asic, the more hashes/energy unit).

An S19 pro hashes @ 110 Th/s
That's 110.000.000.000.000 hashes per second (110 trillion hashes/second)

It consumes ~3250 Watt . I'm not taking the A/C into account tough, nor the overhead by other elements of your mining room.

It costs ~$2600, plus a PSU of $90, S&H, import taxes... I think a ballpark figure would be $3500 for a "complete" S19 pro delivered on your doorstep.

Now, you can plug these numbers into a calculator like https://www.coinwarz.com/mining/bitcoin/calculator?h=110&p=3250&pc=0.10&pf=0.00&d=16104807485529.00000000&r=12.508&er=1&btcer=8968.30400000&ha=TH&hc=3500&hs=-1&hq=1

I only entered an electricity price of 10 dollarcent/Kwh (i pay 27 eurocent), i added some transaction fees, no maintenance costs, no pool fee,...
But it would still take ~460 days to ROI at current diff (which might rise every ~2 weeks), current price (wich might drop every moment) and at current block reward (which will halve in ~20 days)

My own (more realistic) numbers would be:
https://www.coinwarz.com/mining/bitcoin/calculator?h=110.00&p=3250.00&pc=0.30&pf=0.50&d=16104807485529.00000000&r=12.5&er=1&btcer=8968.30400000&ha=TH&hc=3500.00&hs=0&hq=1
0.5% pool fee, transaction fee not distributed amongst the miners, 30 cent/kwh

If i would run such a miner, i'd mine at a net loss of about $6/day, meaning my electricity cost would be $6 MORE than my income. Each day i'd have a net loss, and it would only get worse after the halving

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