Topic: 2.1 Gigahash/sec = how much $$$ per day? (Read 46683 times)
Thank you kindly sir. I will report back here once I've made some progress.
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.
I can't hear you... since you're blocked/ignored 
.... la la lalalla 
.... la la lalalla
OMG the loser is still posting in my thread even though I IGNORED HIM ALONG TIME AGO.
Get lost poor bitch troll. Go suck your mom's hermaphrodite cock.
Don't worry, when this becomes profitable enough(crosses fingers) I will just rent a warehouse or convert a house into office/business space.
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.
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.
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.
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.
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.
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.
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.
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.
butterfly labs better have warranty of some sort, they seem professional enough
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$, tjough your hardware may burn out sooner than you get its value back
Surely, with free electricity - it's not an issue even if btc costs 0.1$, tjough your hardware may burn out sooner than you get its value back
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.
oh OKAY so you're saying my income will be halved? If so, I don't mind..
okkkkkkkkk i just read about mining rewards lmao
I'm not even planning on joining a pool and you started talking about it here
It's not pool-specific. Bitcoin will halve the block reward from 50 coins to 25 coins in ~9 months. I'm not even planning on joining a pool and you started talking about it here
okkkkkkkkk i just read about mining rewards lmao
I'm not even planning on joining a pool and you started talking about it here
I'm not even planning on joining a pool and you started talking about it here
What the hell is bitcoin mining rewards?
Doubt landlord will do that.
Doubt landlord will do that.
Okay I am a little disenchanted after doing some calculations... This rig costs $4,329 and only makes about $9,000 a year... If I were to multiple this by 6(or 30k... which is how much rigbox costs)... it would cost 30k and only make $54,000/year.
NOW RIG BOX by butterfly labs costs 30k, produces 50.4 gigahashes and makes $121,000/year.
OBVIOUSLY making your own rig is not the best option, does anybody else agree with me?
Note BFL has yet to ship them, there's no warranty (IIRC), they're unproven (may be over-heating, and if it fails, you're out $30k as opposed to paying $15 in shipping to replace a gfx card), and likely will have pretty darn low resale value once Bitcoin mining rewards start becoming less significant. Along with that though, you won't be making either of those amounts per year. Bitcoin block rewards will be halving in ~9 months.NOW RIG BOX by butterfly labs costs 30k, produces 50.4 gigahashes and makes $121,000/year.
OBVIOUSLY making your own rig is not the best option, does anybody else agree with me?
Your non-FPGA components aren't cost-efficient for mining either. You really only need one core CPU, 2gb RAM, a basic MoBo, a $10 USB stick to toss Linux on, and 7970s are more for $/W than $/MH performance.
You should probably also consider your landlord may kick you out if you're using >$200/month in electricity. :x
Okay I am a little disenchanted after doing some calculations... This rig costs $4,329 and only makes about $9,000 a year... If I were to multiple this by 6(or 30k... which is how much rigbox costs)... it would cost 30k and only make $54,000/year.
NOW RIG BOX by butterfly labs costs 30k, produces 50.4 gigahashes and makes $121,000/year.
OBVIOUSLY making your own rig is not the best option, does anybody else agree with me?
NOW RIG BOX by butterfly labs costs 30k, produces 50.4 gigahashes and makes $121,000/year.
OBVIOUSLY making your own rig is not the best option, does anybody else agree with me?
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