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Author Topic: Anti-mining movement with their own agenda READ ON  (Read 7609 times)
molecular
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April 30, 2011, 07:19:20 PM
 #61

Once spending $80/month on electricity isn't profitable, I'll spend $80/month on bitcoins instead!
In retrospect, instead of buying mining rig in January for 700€ and putting 200€ power into it so far, I would've been better off investing in coins right from the start (which my calculations showed, but I wanted to mine for other reasons, too (it's cool and secures bitcoin)).

In retrospect, I should've put the winning numbers on the lottery instead of all the others.

It wasn't like that. ("which my calculations showed"). So I knew (or rather assumed) mining would be less profitable. I consciously decided to go for mining instead of buying because "it's cool and secures bitcoin".

Also: I said "I would've been better off" and not "I should've".

Sorry for nitpicking Wink

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molecular
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April 30, 2011, 07:21:12 PM
 #62

In short: I think entering mining biz with brand-new HW is still profitable nowadays, but simply buying bitcoin might be 3 times as profitable.

Noting beats the buzz you get when you see the message "Generated 50 Bitcoins" in your client!

Hmmm, a buzzer. Maybe a cop-style flashing light. You just gave me an idea...
* molecular whips out soldering iron with fat grin

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proudhon
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April 30, 2011, 07:21:50 PM
 #63

I personally don't give a damn if new miners join the game. If they wish to run at a loss that's their personal choice and their right. I do think that the majority of them will leave the mining game once they see that the $80 extra on their power bill has earned them only a meager 5 BTC.

That is a complete joke.  You put 2 5970 cards in a computer.  That is a 1.3 Gh/s system.  The electricity to run that at $0.10 per kw-hr  (600W x 24 x 30 x .1) = $43.20 per month electricity.       You will be generating presently 11 BTC every day.  You will pay the electricity off in 2 days!

It is a great time to upgrade to a new computer system, if your computer is less than 2 gz, why not upgrade to a new computer and have an income of $15 a day that is far more than the payments.

The power consumed at the socket for a dual 2x5970 system will be more than 600W.
molecular
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April 30, 2011, 07:25:45 PM
 #64

I personally don't give a damn if new miners join the game. If they wish to run at a loss that's their personal choice and their right. I do think that the majority of them will leave the mining game once they see that the $80 extra on their power bill has earned them only a meager 5 BTC.

That is a complete joke.  You put 2 5970 cards in a computer.  That is a 1.3 Gh/s system.  The electricity to run that at $0.10 per kw-hr  (600W x 24 x 30 x .1) = $43.20 per month electricity.       You will be generating presently 11 BTC every day.  You will pay the electricity off in 2 days!

It is a great time to upgrade to a new computer system, if your computer is less than 2 gz, why not upgrade to a new computer and have an income of $15 a day that is far more than the payments.

make that € 0.20 ($0.3) / kWh where I live and maybe a lot more when we power off our nuclear plants... well, I see mining rigs shipped to other parts of the world.

Your point is still valid, even at $0.30/kWh.

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