400GH/s - how many BTC can you extract?

[GODLIKE]

As per title, asking you experts.

[1714835336]

1714835336

[1714835336]

1714835336

[1714835336]

1714835336

[1714835336]

1714835336

[1714835336]

1714835336

[newIndia]

As per title, asking you experts.

As per https://www.alloscomp.com/bitcoin/calculator 0.01196082 BTC per day at current difficulty factor 16818461371.2

As per http://www.bitcoinx.com/profit/ 0.0120 BTC per day at current difficulty factor 16,818,461,371.00

[pedrog]

Next 12 months around 1 bitcoin or so:

https://tradeblock.com/mining/a/d28b241a18

[vpitcher07]

I know this is a bit off topic but extract is not the right word to use. These bitcoins aren't hidden in lines of code that need to be "extracted" as you make it seem. They are simply created; basically out of nothing. When a miner finds a block, that miner is rewarded 25 bitcoins that are created - and proven to be valid.

[GODLIKE]

I know this is a bit off topic but extract is not the right word to use. These bitcoins aren't hidden in lines of code that need to be "extracted" as you make it seem. They are simply created; basically out of nothing. When a miner finds a block, that miner is rewarded 25 bitcoins that are created - and proven to be valid.

Thank you for the explanation but I don't know if there's much to discuss.
If you FIND a block, you were actually LOOKING for something, that's why I use the word "extract".
In fact, you don't really FIND bitcoins, right? They are a reward because you FIND a block.
So you extract them thanks to your mining. Or you get them as a reward.
It's just words I think, there's 2 different POVs here, that's all.

Anyway, what do you think the price will be for this new piece of miner?

[GODLIKE]

Next 12 months around 1 bitcoin or so:

https://tradeblock.com/mining/a/d28b241a18

Thank you!

It looks that you won't take back your investment if the machine costs 1000$ (but I think it will cost more).
https://tradeblock.com/mining/a/bb554ee8f3
And of course I have put in there the sheet values: 470 GH/s and 366W.

But if you spend 0 in electricity you will actually earn 21$ (0.03 BTC) after one year!
https://tradeblock.com/mining/a/2feb5cfd9d

[pedrog]

Anyway, what do you think the price will be for this new piece of miner?

From the article:

It is priced at 0.75 BTC.

[GODLIKE]

Anyway, what do you think the price will be for this new piece of miner?

From the article:

It is priced at 0.75 BTC.

Duh jumped that line, thank you!

So here's the result: https://tradeblock.com/mining/a/c42525c314

Good to mine for 6 months, then you can trash it away again  

[wakhidNkcom]

Anyway, what do you think the price will be for this new piece of miner?

From the article:

It is priced at 0.75 BTC.

Duh jumped that line, thank you!

So here's the result: https://tradeblock.com/mining/a/c42525c314

Good to mine for 6 months, then you can trash it away again  

holy *beep* ,, really you make me cannot sleep with that calculate.. -_- ..

[gperez2000]

WOW after checking https://tradeblock.com/mining/  bitcoin mining isn't worth it.

[Ayers]

about 0.01 a day, probably another 3 months roi

[DrG]

about 0.01 a day, probably another 3 months roi

That's 10 days at 0.01, then difficulty goes up 20% so no you get 0.0083 for 10-11 days, then 0.00065 for 10-11 days and so on.

As you approach the 3 month time period the electricity costs more than the income, so you turn it off.

You will not recoup your 1 BTC.  Unless the network crashes and burns in which case you get thousands of useless BTC lol.

[GODLIKE]

about 0.01 a day, probably another 3 months roi

That's 10 days at 0.01, then difficulty goes up 20% so no you get 0.0083 for 10-11 days, then 0.00065 for 10-11 days and so on.

As you approach the 3 month time period the electricity costs more than the income, so you turn it off.

You will not recoup your 1 BTC.  Unless the network crashes and burns in which case you get thousands of useless BTC lol.

I think this machine gives back what you pay it, but not by much... I mean, after 6 months you get 0.3 BTC on top of your investment repaid. Is it really worth it? Mining is essentially dead.

And...just wait for the new 50 PHs stomping into the network, and boom, bye bye mining, once and for all.

[Ayers]

about 0.01 a day, probably another 3 months roi

That's 10 days at 0.01, then difficulty goes up 20% so no you get 0.0083 for 10-11 days, then 0.00065 for 10-11 days and so on.

As you approach the 3 month time period the electricity costs more than the income, so you turn it off.

You will not recoup your 1 BTC.  Unless the network crashes and burns in which case you get thousands of useless BTC lol.

i'm staying away from asic thank you lol

[GODLIKE]

about 0.01 a day, probably another 3 months roi

That's 10 days at 0.01, then difficulty goes up 20% so no you get 0.0083 for 10-11 days, then 0.00065 for 10-11 days and so on.

As you approach the 3 month time period the electricity costs more than the income, so you turn it off.

You will not recoup your 1 BTC.  Unless the network crashes and burns in which case you get thousands of useless BTC lol.

i'm staying away from asic thank you lol

Cloud mining is even worse.

[DrG]

about 0.01 a day, probably another 3 months roi

That's 10 days at 0.01, then difficulty goes up 20% so no you get 0.0083 for 10-11 days, then 0.00065 for 10-11 days and so on.

As you approach the 3 month time period the electricity costs more than the income, so you turn it off.

You will not recoup your 1 BTC.  Unless the network crashes and burns in which case you get thousands of useless BTC lol.

I think this machine gives back what you pay it, but not by much... I mean, after 6 months you get 0.3 BTC on top of your investment repaid. Is it really worth it? Mining is essentially dead.

And...just wait for the new 50 PHs stomping into the network, and boom, bye bye mining, once and for all.

You put in a 32% increase per month!?!  We had a 25% just for the last 10 day period!  Two of those in a row is 1.25x1.25=1.56 or 56% increase in just about 20-22 days, not even counting out 30 days.

The machine won't even earn it's fiat back unless Bitcoin doubles in price.

A calculator (like any tool) only works if used correctly. 

[GODLIKE]

about 0.01 a day, probably another 3 months roi

That's 10 days at 0.01, then difficulty goes up 20% so no you get 0.0083 for 10-11 days, then 0.00065 for 10-11 days and so on.

As you approach the 3 month time period the electricity costs more than the income, so you turn it off.

You will not recoup your 1 BTC.  Unless the network crashes and burns in which case you get thousands of useless BTC lol.

I think this machine gives back what you pay it, but not by much... I mean, after 6 months you get 0.3 BTC on top of your investment repaid. Is it really worth it? Mining is essentially dead.

And...just wait for the new 50 PHs stomping into the network, and boom, bye bye mining, once and for all.

You put in a 32% increase per month!?!  We had a 25% just for the last 10 day period!  Two of those in a row is 1.25x1.25=1.56 or 56% increase in just about 20-22 days, not even counting out 30 days.

The machine won't even earn it's fiat back unless Bitcoin doubles in price.

A calculator (like any tool) only works if used correctly.  

Difficulty increase goes with computational power increase.
If computational power wouldn't increase, difficulty would stay the same (for what I know).
We just had a 25%, true, but when this step was so steep, it's possible that the next one will be lower.

The problem is vc are still pouring capitals and buying computing power, even when the investment is very risky and doesn't pay that much, but I don't expect that much after this jump.
My opinion is that in the future we'll see some other months of PHs getting into play, and then, when the income will be very tight, many of these mining companies will pop off, beginning with cloud miners.
We are rapidly approaching the no-return in investment, by hardware costs and electricity consumption.
When this soil will be met there will be slower addition of computational power, but I expect a collapse not too far in time on GHs prices on cloud mining, and then also on hardware.

[DrG]

about 0.01 a day, probably another 3 months roi

That's 10 days at 0.01, then difficulty goes up 20% so no you get 0.0083 for 10-11 days, then 0.00065 for 10-11 days and so on.

As you approach the 3 month time period the electricity costs more than the income, so you turn it off.

You will not recoup your 1 BTC.  Unless the network crashes and burns in which case you get thousands of useless BTC lol.

I think this machine gives back what you pay it, but not by much... I mean, after 6 months you get 0.3 BTC on top of your investment repaid. Is it really worth it? Mining is essentially dead.

And...just wait for the new 50 PHs stomping into the network, and boom, bye bye mining, once and for all.

You put in a 32% increase per month!?!  We had a 25% just for the last 10 day period!  Two of those in a row is 1.25x1.25=1.56 or 56% increase in just about 20-22 days, not even counting out 30 days.

The machine won't even earn it's fiat back unless Bitcoin doubles in price.

A calculator (like any tool) only works if used correctly. 

Difficulty increase goes with computational power increase.
If computational power wouldn't increase, difficulty would stay the same (for what I know).
The problem is vc are still pouring capitals and buying computing power, even when the investment is very risky and doesn't pay that much.
My opinion is that in the future we'll see some other months of PHs getting into play, and then, when the income will be very tight, many of these mining companies will pop off, beginning with cloud miners.
We are rapidly approaching the no-return in investment, by hardware costs and electricity consumption.
When this soil will be met there will be slower addition of computational power, but I expect a collapse not too far in time on GHs prices on cloud mining, and then also on hardware.

The people throwing VC around as investing into "massive" multi-million dollar farms.  They develop and produce their own miners or subcontract somelike like ASICMiner to make the chips and they make their own.  Their costs are significantly lower than a home user.  They can afford to have 10k miners air-lifted to Iceland and mine with cheap power.

You and I mining at home cannot compete with that.  It may cost you $450 to buy an S3, Bitmain can make it for $200 and they only need to mine $200 to break even.

If 0.5W/GH/s is realized soon then we won't see step off until 2016 at the 1/2ing, if we don't get the efficiency up then it will drop sooner as you noted, but not from the VCs.

[GODLIKE]

about 0.01 a day, probably another 3 months roi

That's 10 days at 0.01, then difficulty goes up 20% so no you get 0.0083 for 10-11 days, then 0.00065 for 10-11 days and so on.

As you approach the 3 month time period the electricity costs more than the income, so you turn it off.

You will not recoup your 1 BTC.  Unless the network crashes and burns in which case you get thousands of useless BTC lol.

I think this machine gives back what you pay it, but not by much... I mean, after 6 months you get 0.3 BTC on top of your investment repaid. Is it really worth it? Mining is essentially dead.

And...just wait for the new 50 PHs stomping into the network, and boom, bye bye mining, once and for all.

You put in a 32% increase per month!?!  We had a 25% just for the last 10 day period!  Two of those in a row is 1.25x1.25=1.56 or 56% increase in just about 20-22 days, not even counting out 30 days.

The machine won't even earn it's fiat back unless Bitcoin doubles in price.

A calculator (like any tool) only works if used correctly. 

Difficulty increase goes with computational power increase.
If computational power wouldn't increase, difficulty would stay the same (for what I know).
The problem is vc are still pouring capitals and buying computing power, even when the investment is very risky and doesn't pay that much.
My opinion is that in the future we'll see some other months of PHs getting into play, and then, when the income will be very tight, many of these mining companies will pop off, beginning with cloud miners.
We are rapidly approaching the no-return in investment, by hardware costs and electricity consumption.
When this soil will be met there will be slower addition of computational power, but I expect a collapse not too far in time on GHs prices on cloud mining, and then also on hardware.

The people throwing VC around as investing into "massive" multi-million dollar farms.  They develop and produce their own miners or subcontract somelike like ASICMiner to make the chips and they make their own.  Their costs are significantly lower than a home user.  They can afford to have 10k miners air-lifted to Iceland and mine with cheap power.

You and I mining at home cannot compete with that.  It may cost you $450 to buy an S3, Bitmain can make it for $200 and they only need to mine $200 to break even.

If 0.5W/GH/s is realized soon then we won't see step off until 2016 at the 1/2ing, if we don't get the efficiency up then it will drop sooner as you noted, but not from the VCs.

Anyway, I took off my money from mining and suggest everybody "small" to do so as well

[wakhidNkcom]

so the point is 'DO NOT MINING'? am i right?
so if that's true now is time to move on altcoins