Lies And Over reactions - page 2. | Bitcointalksearch.org

SMB-2525

full member

Activity: 195

Merit: 100

Quote from: drukoz2 on August 15, 2014, 09:25:57 PM

there are too many people in these forums saying you won't ROI idk why even tho i quote unquote have "free power" because i pay a part of it and not all it isn't that bad with miners on i got 0.05 BTC everyday witch makes it worth it and i ROI quickly now that BTC is going down its gonna take a bit more but people seem to over react too much to the reality of it with calculations that aren't accurate

At 16% difficulty increases every 12 days (which is what we have seen in 2012) and $0.05/KWH electricity cost, an S3 hashing at 440 GHS while consuming 340 Watts of electricity will produce 0.948 BTC before the cost of electricity exceeds the value of the BTC produced with BTC @ $500.

It will produce .976 BTC before it essentially flatlines in June of 2016 having consumed $271 worth of electricity.

Which part of this analysis is a lie or an over reaction? What is inaccurate?

taipo

full member

Activity: 238

Merit: 100

Kia ora!

I started mining with a pair of IceFury miners, mined enough to buy a cube, and mined enough from those to buy an Antminer S1, then a second and so on. The current rig is 6 x Antminer S1's, 5 x Antminer S3's and 1 x Antminer S2.

Total expense to me so far have been the PSUs and the initial IceFury miners.

Total Bitcoin in the wallet = sweet, fuck, all

It will be this way until the world wide cost of mining reaches the point where it is about 85% of the total bitcoin mined. At that point the difficulty will cease rising exponentially eventually reducing to a trickle, and the coins per day you earn now will mostly be the same rate in a few months time.

Meanwhile that rate is in crash dive as home miners scramble to find that spare power socket that won't blow the switch board in order to maintain their mining incomes.

This forum is not really about a frank discussion on mining speculation, its more a hangout for depressed miners.

Causes of depression:
- cost of miners/being screwed out of preorders
- power costs
- difficulty rising due to new miners and data centres coming online
- having little to no bitcoin to show for after a year or so of mining, just a big pile of ASIC junk

Bitsaurus

hero member

Activity: 873

Merit: 1007

You've been registered since 2011 and barely have 18 posts. Either you like to read and withhold commentary or you have been oblivious as to what has transpired over the last 3 years.

Type out your costs and your revenue and we'll show you where your math or assumptions are incorrect.

drukoz2

member

Activity: 395

Merit: 10

there are too many people in these forums saying you won't ROI idk why even tho i quote unquote have "free power" because i pay a part of it and not all it isn't that bad with miners on i got 0.05 BTC everyday witch makes it worth it and i ROI quickly now that BTC is going down its gonna take a bit more but people seem to over react too much to the reality of it with calculations that aren't accurate

Topic: Lies And Over reactions - page 2. (Read 2348 times)