Bitcoin Forum
December 04, 2016, 06:15:48 AM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: mining question  (Read 347 times)
ledgerman
Newbie
*
Offline Offline

Activity: 12


View Profile
July 10, 2012, 11:18:10 AM
 #1

i have a question about mining... i see that bitcoins come into existence from mining them, but how much can you actually earn after all the costs?
1480832148
Hero Member
*
Offline Offline

Posts: 1480832148

View Profile Personal Message (Offline)

Ignore
1480832148
Reply with quote  #2

1480832148
Report to moderator
1480832148
Hero Member
*
Offline Offline

Posts: 1480832148

View Profile Personal Message (Offline)

Ignore
1480832148
Reply with quote  #2

1480832148
Report to moderator
1480832148
Hero Member
*
Offline Offline

Posts: 1480832148

View Profile Personal Message (Offline)

Ignore
1480832148
Reply with quote  #2

1480832148
Report to moderator
The forum was founded in 2009 by Satoshi and Sirius. It replaced a SourceForge forum.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480832148
Hero Member
*
Offline Offline

Posts: 1480832148

View Profile Personal Message (Offline)

Ignore
1480832148
Reply with quote  #2

1480832148
Report to moderator
lenny_
Legendary
*
Offline Offline

Activity: 953



View Profile
July 10, 2012, 11:33:10 AM
 #2

http://bitcoinx.com/profit/
DobZombie
Hero Member
*****
Offline Offline

Activity: 756


TheBitcoinMuseum.com


View Profile
July 10, 2012, 01:53:28 PM
 #3

long story short, if your electricity is expensive (like Australia) using the most efficient rig (and bang for your buck) it can take 14 months to make your money back.  That's assuming the variables that work in your favour don't get worse, which they most defiantly will. If Bitcoin increases substantially in value, the story changes

If your electricity is free, you could potentially make your money back by December.

This is calculated on buying...

4 x Radeon HD 5970 (used) $280ea
A new motherboard 1155 (with 4 pci-e, 16x or 1x it doesn't matter) $60
new celeron cpu ($50)
ram 2gb $15
1200w 80+ rated power supply $250
other odds and ends $100.

Such a system could produce 2800Mh/s, which would translate to about 1.5BTC a day.


Now keep in mind I've used A LOT of rough estimates.  I suggest you troll through forums for a few weeks, and run a mining program on what ever PC you have now.  It'll give you a taste of what mining is, and you'll then know if you've got the MINING BUG or not

Wink

The Bitcoin Museum is back under my control, but I still need to go through all the code. DO NOT PURCHASE ANYTHING FROM IT

The Biggest Collection of Bitcoin Memorabilia The Bitcoin Museum
Series 2 BitcoinNerd 1g Silver coin thread!
Discount Jewellery! Noella Jean Jewellery



Buy premium Champanges, Spirits & Wines in Australia! My Bitmit Items

Tip Me if you Hate Justin Bieber 1DobZomBiE2gngvy6zDFKY5b76yvDbqRra
Dargo
Legendary
*
Offline Offline

Activity: 1554



View Profile
July 10, 2012, 03:16:10 PM
 #4

If you want to try your hand at investing in the world of bitcoin, your best bet right now is probably to just buy some coins. It's not clear at the moment that there is any mining hardware you can purchase now that would actually pay for itself with mined coins. If you buy GPUs or FPGAs, ASICs may come on the scene and raise difficulty so high as to make it almost impossible to make your money back. And if you buy BFL ASICs, it may take so long to actually get the equipment that difficulty will likewise be so high that it may take a really long time to make your money back. If you don't understand what difficulty is or how ASICs might impact this in the future, then you should just educate yourself for now. Whatever you do, don't take the various "profit calculators" too seriously. These calculators assume fixed price and difficulty, but price and difficulty are not fixed, and are quite hard to predict. 
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!