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Author Topic: 2.1 Gigahash/sec = how much $$$ per day?  (Read 34109 times)
fanquake
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March 02, 2012, 10:38:51 AM
 #21

oh OKAY so you're saying my income will be halved? If so, I don't mind..

Yes, take for example, you mine 1 block per day.

At the moment, the block reward is 50 bitcoins. So you would be receiving 50 bitcoins per day.

In ~9 months, the block reward will drop to 25. So you will be using the same amount of hashing power, electricity etc, but instead of 50, you would only receive 25 Bitcoins per day.
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P4man
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March 02, 2012, 11:06:10 AM
 #22

oh OKAY so you're saying my income will be halved? If so, I don't mind..

Yes, take for example, you mine 1 block per day.

At the moment, the block reward is 50 bitcoins. So you would be receiving 50 bitcoins per day.

In ~9 months, the block reward will drop to 25. So you will be using the same amount of hashing power, electricity etc, but instead of 50, you would only receive 25 Bitcoins per day.

You dont mine x blocks per day. You produce x hashes per day. How many BTC that gives you depends on difficulty. Just assuming difficulty would remain stable is not very reasonable is it would imply the exact same hashrate would keep mining even at half the profit. Thats not gonna happen. I dont think anyone really knows what will happen though.

xminer
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March 02, 2012, 11:28:54 AM
 #23

it's useless to measure $$$/day. BTC value can change times in just several minutes. W/o any "visible reasonable reason". The only thing you should count is "when should I stop mining" or "should I stop mining if rate drops down to ...".

Surely, with free electricity - it's not an issue even if btc costs 0.1$, tjough your hardware may burn out sooner than you get its value back
boconniff40
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March 02, 2012, 11:30:37 AM
 #24

butterfly labs better have warranty of some sort, they seem professional enough
fanquake
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March 02, 2012, 11:36:44 AM
 #25

oh OKAY so you're saying my income will be halved? If so, I don't mind..

Yes, take for example, you mine 1 block per day.

At the moment, the block reward is 50 bitcoins. So you would be receiving 50 bitcoins per day.

In ~9 months, the block reward will drop to 25. So you will be using the same amount of hashing power, electricity etc, but instead of 50, you would only receive 25 Bitcoins per day.

You dont mine x blocks per day. You produce x hashes per day. How many BTC that gives you depends on difficulty. Just assuming difficulty would remain stable is not very reasonable is it would imply the exact same hashrate would keep mining even at half the profit. Thats not gonna happen. I dont think anyone really knows what will happen though.


True, I was only giving a simple example to explain the concept of the block reward halving..
tatsuchan
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March 02, 2012, 01:15:29 PM
 #26

Keep an eye out on how much you'd make back selling the hardware.  Figure out a time/price to sell it at.  Than figure that into your profit equation.

Example:

Buy rig for $1000
Make $50/month
Sell equipment in 6 month at 80%, 1 year 60%, 2 years 30%

Bitcoin becomes unprofitable to you in 6 months
$300 bitcoin profit
- $200 hardware loss
= $100 assumed profit (if the coin was somewhat stable)

This doesn't assume many other variables either, but you don't seem concerned.  If you can't resell, you can't pull out of the mining game when you need to.
LoupGaroux
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March 02, 2012, 03:15:41 PM
 #27

A typical apartment is set up with 60-100 amps worth of power. Given the usual loads of a person living there, appliances, heating and cooling, lighting, etc. that capacity has room for maybe 2 rigs of the level you are designing. Beyond that you will be drawing way more than can be delivered through you infrastructure, and you will be in a state of permanently blown fuses/tripped breakers. It is unlikely that your landlord will upgrade your apartment to a 200 amp service, or install a transformer for you. Don't spend the money before you know what you can realistically install. I am pulling 2.5 Ghash in my home, where I do have a 200 amp service, and pay $0.08 per kilowatt. My rigs add $200 per month to my electric costs. You can be sure that your landlord will be aware if you are suddenly drawing four or five times the power that any other apartment does, or if you are tripping breakers all over the building, and yes, landlords can and will pass that unusual expense along to you, or toss you out.


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Look^^ I'm selling my soul too!
boconniff40
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March 02, 2012, 05:29:05 PM
 #28

Keep an eye out on how much you'd make back selling the hardware.  Figure out a time/price to sell it at.  Than figure that into your profit equation.

Example:

Buy rig for $1000
Make $50/month
Sell equipment in 6 month at 80%, 1 year 60%, 2 years 30%

Bitcoin becomes unprofitable to you in 6 months
$300 bitcoin profit
- $200 hardware loss
= $100 assumed profit (if the coin was somewhat stable)

This doesn't assume many other variables either, but you don't seem concerned.  If you can't resell, you can't pull out of the mining game when you need to.

There's no need to think about anything like that yet. Also if anything like that happened, I'll just take it as a loss.
boconniff40
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March 02, 2012, 05:30:22 PM
 #29

A typical apartment is set up with 60-100 amps worth of power. Given the usual loads of a person living there, appliances, heating and cooling, lighting, etc. that capacity has room for maybe 2 rigs of the level you are designing. Beyond that you will be drawing way more than can be delivered through you infrastructure, and you will be in a state of permanently blown fuses/tripped breakers. It is unlikely that your landlord will upgrade your apartment to a 200 amp service, or install a transformer for you. Don't spend the money before you know what you can realistically install. I am pulling 2.5 Ghash in my home, where I do have a 200 amp service, and pay $0.08 per kilowatt. My rigs add $200 per month to my electric costs. You can be sure that your landlord will be aware if you are suddenly drawing four or five times the power that any other apartment does, or if you are tripping breakers all over the building, and yes, landlords can and will pass that unusual expense along to you, or toss you out.



Never had a problem yet, already running several comps at my house. Pretty sure I can just pay for elec when needed.
LoupGaroux
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March 02, 2012, 06:23:46 PM
 #30

It's not paying for it, it's more a question of getting it to come through the wires without blowing the system, or causing fires. The capacity of the wiring in your apartment will accommodate several computers, yes. Chances are, those computers are not each drawing 900-1200 watts continuously 24/7, kicking most of the energy back into your air volume as heat, and created a steady massive load for your service.

Systems can handle random spikes in usage, and when it is too much, a circuit breaker trips. When that usage is a continuous spike, and the breaker trips (you hope) there exists too much load to reset, and then, no juice to make the money machine work. You just can't squeeze more volume through the distribution network.

54Gh/s bASIC Bitcoin Mining Devices
Pre-Order Yours Today!     
Only $1069.99 ! @ http://www.BitcoinASIC.com


Look^^ I'm selling my soul too!
boconniff40
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March 02, 2012, 06:49:14 PM
 #31

Don't worry, when this becomes profitable enough(crosses fingers) I will just rent a warehouse or convert a house into office/business space.
boconniff40
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March 02, 2012, 06:55:12 PM
 #32

Get lost poor bitch troll. Go suck your mom's hermaphrodite cock.
boconniff40
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March 02, 2012, 07:14:26 PM
 #33

OMG the loser is still posting in my thread even though I IGNORED HIM ALONG TIME AGO.
boconniff40
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March 02, 2012, 09:47:45 PM
 #34

I can't hear you... since you're blocked/ignored  Roll Eyes .... la la lalalla Cheesy
LoupGaroux
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March 02, 2012, 10:27:29 PM
 #35

I hope it is profitable enough for you. After a full year of this silliness it is still at the barely paying for itself hobby/enthusiast level for me. The money is to be made around bitcoin, not mining it, in my experience. But, the best of luck to you.

54Gh/s bASIC Bitcoin Mining Devices
Pre-Order Yours Today!     
Only $1069.99 ! @ http://www.BitcoinASIC.com


Look^^ I'm selling my soul too!
boconniff40
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March 02, 2012, 10:43:53 PM
 #36

Thank you kindly sir. I will report back here once I've made some progress.
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