Topic: Brag: mined enough to pay my rent this month (Read 2956 times)

Quote from: Xyver on February 01, 2014, 10:23:26 PM

Quote from: Sonny on February 01, 2014, 05:09:22 AM

Quote from: _Miracle on January 31, 2014, 11:17:58 AM

Why the last one ever? If you have that big a hashrate,your earnings won't be going anywhere.

As difficulty goes up, the revenue (bitcoin mined) will go down.
Eventually, the revenue will not be enough for OP to pay the rent Tongue

That was my point. With him having a large enough hashrate to pay his rent,the difficulty increment can't possibly affect his earnings in a substantial way.

Unless of course, you mean that he makes (for example) 10 000 a month mining, and only needs to pay 1 000 rent. Then an increase of 15% difficulty would only lower earnings to 8 500, still enough to pay the 1 000 rent.

That's what I meant. Sure,it's substantial,but my point was that his rent can still be paid.

If his rent is $1,000, then "enough to pay my rent" could be, say, $1,050. Difficulty goes up 20%, becomes $800.
Is that not clear? He also says "and possibly for the last month ever"...

Come on.

Gah! Alright,alright,you win! I was just stating one of the many myriad possibilities of OP's rent paying scheme. Tongue

lol

Just to clear this up

Mining with a constant hashrate it seems like each month brings in about 50-60% compared to the previous month. In late November I got a lot of new equipment, so I knew December would be good, and it turned out to cover my rent with a big margin. This happened again in January but just barely, so it seems reasonable to expect February to fall under the line.

However, if there is a big enough price spike then I could get lucky again - also if I decide to buy new equipment of course.

DennisD7

full member

Activity: 131

Merit: 100

That is too cool. bet you're having fun.

Yes, it's a lot of fun!

Quote from: cp1 on January 31, 2014, 11:19:43 AM

How many months rent did it cost you to mine 2 months worth?

I don't even want to think about it Cheesy

- but I see it as a somewhat expensive hobby. People buy vintage cars just to tinker with them right?

Quote from: Sonny on February 01, 2014, 04:57:15 AM

How much hashrate do you have?

It's about 132 Gh/s these days

Sonny

hero member

Activity: 868

Merit: 1000

Quote from: atc1 on February 02, 2014, 12:56:52 AM

Quote from: BeepBeep2 on February 02, 2014, 12:50:47 AM

Quote from: Xyver on February 01, 2014, 10:23:26 PM

Quote from: Sonny on February 01, 2014, 05:09:22 AM

Quote from: BeepBeep2 on February 02, 2014, 12:50:47 AM

Why the last one ever? If you have that big a hashrate,your earnings won't be going anywhere.

As difficulty goes up, the revenue (bitcoin mined) will go down.
Eventually, the revenue will not be enough for OP to pay the rent Tongue

That was my point. With him having a large enough hashrate to pay his rent,the difficulty increment can't possibly affect his earnings in a substantial way.

Unless of course, you mean that he makes (for example) 10 000 a month mining, and only needs to pay 1 000 rent. Then an increase of 15% difficulty would only lower earnings to 8 500, still enough to pay the 1 000 rent.

That's what I meant. Sure,it's substantial,but my point was that his rent can still be paid.

If his rent is $1,000, then "enough to pay my rent" could be, say, $1,050. Difficulty goes up 20%, becomes $800.
Is that not clear? He also says "and possibly for the last month ever"...

Come on.

Gah! Alright,alright,you win! I was just stating one of the many myriad possibilities of OP's rent paying scheme. Tongue

lol

atc1

sr. member

Activity: 308

Merit: 250

Quote from: Xyver on February 01, 2014, 10:23:26 PM

Quote from: Sonny on February 01, 2014, 05:09:22 AM

Why the last one ever? If you have that big a hashrate,your earnings won't be going anywhere.

As difficulty goes up, the revenue (bitcoin mined) will go down.
Eventually, the revenue will not be enough for OP to pay the rent Tongue

That was my point. With him having a large enough hashrate to pay his rent,the difficulty increment can't possibly affect his earnings in a substantial way.

Unless of course, you mean that he makes (for example) 10 000 a month mining, and only needs to pay 1 000 rent. Then an increase of 15% difficulty would only lower earnings to 8 500, still enough to pay the 1 000 rent.

That's what I meant. Sure,it's substantial,but my point was that his rent can still be paid.

If his rent is $1,000, then "enough to pay my rent" could be, say, $1,050. Difficulty goes up 20%, becomes $800.
Is that not clear? He also says "and possibly for the last month ever"...

Come on.

Gah! Alright,alright,you win! I was just stating one of the many myriad possibilities of OP's rent paying scheme. Tongue

BeepBeep2

full member

Activity: 184

Merit: 100

Quote from: Xyver on February 01, 2014, 10:23:26 PM

Quote from: Sonny on February 01, 2014, 05:09:22 AM

Quote from: Xyver on February 01, 2014, 10:23:26 PM

Why the last one ever? If you have that big a hashrate,your earnings won't be going anywhere.

As difficulty goes up, the revenue (bitcoin mined) will go down.
Eventually, the revenue will not be enough for OP to pay the rent Tongue

That was my point. With him having a large enough hashrate to pay his rent,the difficulty increment can't possibly affect his earnings in a substantial way.

Unless of course, you mean that he makes (for example) 10 000 a month mining, and only needs to pay 1 000 rent. Then an increase of 15% difficulty would only lower earnings to 8 500, still enough to pay the 1 000 rent.

That's what I meant. Sure,it's substantial,but my point was that his rent can still be paid.

If his rent is $1,000, then "enough to pay my rent" could be, say, $1,050. Difficulty goes up 20%, becomes $800.
Is that not clear? He also says "and possibly for the last month ever"...

Come on.

atc1

sr. member

Activity: 308

Merit: 250

Quote from: Sonny on February 01, 2014, 05:09:22 AM

Quote from: cp1 on January 31, 2014, 11:19:43 AM

Why the last one ever? If you have that big a hashrate,your earnings won't be going anywhere.

As difficulty goes up, the revenue (bitcoin mined) will go down.
Eventually, the revenue will not be enough for OP to pay the rent Tongue

That was my point. With him having a large enough hashrate to pay his rent,the difficulty increment can't possibly affect his earnings in a substantial way.

Unless of course, you mean that he makes (for example) 10 000 a month mining, and only needs to pay 1 000 rent. Then an increase of 15% difficulty would only lower earnings to 8 500, still enough to pay the 1 000 rent.

That's what I meant. Sure,it's substantial,but my point was that his rent can still be paid.

J_Dubbs

sr. member

Activity: 322

Merit: 250

How many months rent did it cost you to mine 2 months worth?

Xyver

full member

Activity: 281

Merit: 100

Quote from: Sonny on February 01, 2014, 05:09:22 AM

Why the last one ever? If you have that big a hashrate,your earnings won't be going anywhere.

As difficulty goes up, the revenue (bitcoin mined) will go down.
Eventually, the revenue will not be enough for OP to pay the rent Tongue

That was my point. With him having a large enough hashrate to pay his rent,the difficulty increment can't possibly affect his earnings in a substantial way.

I.... What? Do you understand percentages?

If the difficulty rises 15%, your revenue drops 15%. If you have 1 gigahash, it drops 15%, if you have 10 terahash it drops 15%.

Difficulty increments affect everyone equally substantially.

Unless of course, you mean that he makes (for example) 10 000 a month mining, and only needs to pay 1 000 rent. Then an increase of 15% difficulty would only lower earnings to 8 500, still enough to pay the 1 000 rent. But looking at it that way, that's more substantial losses the bigger the miners you have! 10 000$ revenue dropping to 8 500$ is a bigger monetary loss then 10$ dropping to 8.50$....

But percentages don't discriminate, they affect everyone equally.

Sonny

hero member

Activity: 868

Merit: 1000

Quote from: Sonny on February 01, 2014, 05:09:22 AM

Quote from: Sonny on February 01, 2014, 05:09:22 AM

Why the last one ever? If you have that big a hashrate,your earnings won't be going anywhere.

As difficulty goes up, the revenue (bitcoin mined) will go down.
Eventually, the revenue will not be enough for OP to pay the rent Tongue

That was my point. With him having a large enough hashrate to pay his rent,the difficulty increment can't possibly affect his earnings in a substantial way.

Maybe his hashrate is not that big, and the revenue can only marginally cover the rent this month.

atc1

sr. member

Activity: 308

Merit: 250

Why the last one ever? If you have that big a hashrate,your earnings won't be going anywhere.

As difficulty goes up, the revenue (bitcoin mined) will go down.
Eventually, the revenue will not be enough for OP to pay the rent Tongue

That was my point. With him having a large enough hashrate to pay his rent,the difficulty increment can't possibly affect his earnings in a substantial way.

Sonny

hero member

Activity: 868

Merit: 1000