Miners that pay for electricity should seriously start reconsidering - page 2.

Hands

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Quote from: navigator on August 05, 2011, 09:52:07 PM

Southern US

that may be your fuel charge, but depending where you are your fuel charge is about half of your KWH charge... That or you live somewhere with rates that are less than 1/2 those of Austin Tx, and we are know for having some of the lowest rates in texas.. (with the summer surcharge, after the first 500KWH's per month I pay .13XXX in the summer and about .115XX in the winter.. however the first 500KWH's only cost me .095... With my 3 miners I need 10.00/day to break even.. (when you include the increased AC costs, Fan costs, etc.. (the miners alone are about 7.00/day) and thats running my house at 80' F so not really "cold".

I turned off all 3 of my miners on Saturday morning. I'll turn them back on when the price goes back up to $13 or I'll scale down over the next few weeks.. I'm not going t loose 2 or 3 dollors a day just to keep the bitcoin network secure.

Josh

sharky112065

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Quote from: Cluster2k on August 08, 2011, 06:12:01 AM

Quote from: phorensic on August 07, 2011, 11:00:48 AM

Quote from: jasonk on August 07, 2011, 01:37:12 AM

Switched my 2 mining rigs off today when the price fell to $6. Will reconsider if it goes above $9.

Thank you!

And this ladies and gentlemen, is a prime example of the Tragedy of the Commons. A miner quitting as it's pointless mining for a return of cents per day is sarcastically thanked by other miners still in the game, who get very cheap or 'free' electricity. Other miners are now less likely to quit as someone else will take their share, and it's a race to the bottom from here.

In reality we don't need any miners. There are 7 million bitcoins in existence which is probably more than half what will ever get generated (early adopters who mined and thought the whole thing to be pointless and deleted their wallet, hard drive crashes, stolen and reformatted computers, deceased bitcoin owners not informing anyone of their wallet, etc). More than enough bitcoins out there to satisfy speculators.

Wow, 203 posts and you still do not know that you need mining for the transactions to go through?

Grinder

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Quote from: Cluster2k on August 08, 2011, 06:12:01 AM

In reality we don't need any miners. There are 7 million bitcoins in existence which is probably more than half what will ever get generated (early adopters who mined and thought the whole thing to be pointless and deleted their wallet, hard drive crashes, stolen and reformatted computers, deceased bitcoin owners not informing anyone of their wallet, etc). More than enough bitcoins out there to satisfy speculators.

Except for the fact that the security of the existing bitcoins is directly related to the difficulty level. The mining part isn't there to distribute bitcoins, it's there to keep them safe.

Cluster2k

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Quote from: phorensic on August 07, 2011, 11:00:48 AM

Quote from: jasonk on August 07, 2011, 01:37:12 AM

Switched my 2 mining rigs off today when the price fell to $6. Will reconsider if it goes above $9.

Thank you!

And this ladies and gentlemen, is a prime example of the Tragedy of the Commons. A miner quitting as it's pointless mining for a return of cents per day is sarcastically thanked by other miners still in the game, who get very cheap or 'free' electricity. Other miners are now less likely to quit as someone else will take their share, and it's a race to the bottom from here.

In reality we don't need any miners. There are 7 million bitcoins in existence which is probably more than half what will ever get generated (early adopters who mined and thought the whole thing to be pointless and deleted their wallet, hard drive crashes, stolen and reformatted computers, deceased bitcoin owners not informing anyone of their wallet, etc). More than enough bitcoins out there to satisfy speculators.

phorensic

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Quote from: jasonk on August 07, 2011, 01:37:12 AM

Switched my 2 mining rigs off today when the price fell to $6. Will reconsider if it goes above $9.

Thank you!

jasonk

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Switched my 2 mining rigs off today when the price fell to $6. Will reconsider if it goes above $9.

navigator

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Transisto

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Quote from: navigator on August 04, 2011, 11:44:24 PM

Only paying $0.05194 per kWh here. During the winter after the first 1200kWh the rest are only $0.04426.

Where is "here" ?

navigator

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Mousepotato

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Seal Cub Clubbing Club

Quote from: bmgjet on August 04, 2011, 01:00:20 AM

Just wish I had a time machine tho. Take my rig back in time with the GFX miner client to when bitcoin first started then I would have had sh*t loads of btc to sell when it was at the $2X.XX high.

Yeah, IF you waited that long for BTC to reach $20. Back when Bitcoin mining first started, even if you had 20 GH/s of hashing power, you still wouldn't be as profitable as you are right now. I don't get why people are crying about how "unprofitable" mining has become. Even at $8.70 per BTC, it's still way more profitable than when the earliest adopters were mining.

nebiki

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Quote from: bmgjet on August 04, 2011, 01:00:20 AM

Well iv finished mining now, Still holding on to a few BTC which ill sell if price ever gets back to $2X.XX.
My power billing is a bit like that.
Looking on last months bill I got so many KW/H charged at 0.19 then the last day it went up to tire 3 (high usage) which was charged at 0.29 but luckily it only cost $6 for that day but would of sucked being on that pricing for a week or 2. On the low rate it was only costing $2.XX per day about $15-16 per week for my rig and I was making $62NZD a week (when BTC was at $15USD.)

Was a good run tho. Managed to Pay off 1/4 of my 6850, 100% of my 6670 and buy 2X antec-kuhler-h2o-620 watercooler setups.
Both GFX cards are getting a good using with BFBC2 online now.

Just wish I had a time machine tho. Take my rig back in time with the GFX miner client to when bitcoin first started then I would have had sh*t loads of btc to sell when it was at the $2X.XX high.

this is serious business. if you started at that time with such a huge hashrate, it would have affected bitcoins in a very dramatic way. so that's not a good idea.

bmgjet

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Well iv finished mining now, Still holding on to a few BTC which ill sell if price ever gets back to $2X.XX.
My power billing is a bit like that.
Looking on last months bill I got so many KW/H charged at 0.19 then the last day it went up to tire 3 (high usage) which was charged at 0.29 but luckily it only cost $6 for that day but would of sucked being on that pricing for a week or 2. On the low rate it was only costing $2.XX per day about $15-16 per week for my rig and I was making $62NZD a week (when BTC was at $15USD.)

Was a good run tho. Managed to Pay off 1/4 of my 6850, 100% of my 6670 and buy 2X antec-kuhler-h2o-620 watercooler setups.
Both GFX cards are getting a good using with BFBC2 online now.

Just wish I had a time machine tho. Take my rig back in time with the GFX miner client to when bitcoin first started then I would have had sh*t loads of btc to sell when it was at the $2X.XX high.

kiwiasian

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Quote from: pekv2 on August 03, 2011, 03:10:25 PM

I was curious, so I checked out the price of kWh from my utility. Not bad. $0.0950 per kWh. I need to get a kill a watt meter for my pc.

Yes the rate seems low but that is the rate you pay while you are in the "normal usage" tier. I don't know exactly what they call it. But once you go over the kwh/month "limit" or baseline then you start getting ridiculous charges, up to 14 cents per kwh.

So in other words so long as you are in tier 1 "normal usage" you pay $0.0950 per kwh, tier 2 "excess usage" you pay (hypothetically) $0.5000 per kwh, tier 3 "overboard usage" $0.14 per kwh.

I have the exact same rate. You know what the electricity bill was for my 24/7 dual 5850 miner? $250. Last month's bill, not mining at all? $70. No, I don't use the AC.

release

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Quote from: mike678 on August 03, 2011, 03:11:23 PM

Just because I have time I'll try to build a high ratio build that cuts all corners with the 5850 @ 145

http://www.newegg.com/Product/Product.aspx?Item=N82E16813138324
48 for extenders
30 for cpu (heat sink not included)
10 for heatsink
6-flash drive
10-ram
580 for 4 5850
90 for psu
total=834
expected megahash=1,600

ratio = 1.91
I guess if you want to add a case add ~$60
ratio=1.79

if you just build your own case with metal from a reputable metal seller (onlinemetals, not the one in the "how to" guide in hardware), it will cost about $20. (assuming you have spare screws, a caliper and a power drill with drill bits)

mrb

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Quote from: newminerr on August 03, 2011, 11:42:32 AM

I pay 5.8$ for 250 kw Grin

That's exactly what costs 250kW for ~14min at $0.10/kWh, an average US domestic price.

release

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Quote from: bcpokey on August 03, 2011, 08:18:26 PM

Quote from: yochdog on August 03, 2011, 01:54:38 PM

so you want me to use a MOBO with 2 PCIx slots?

I'd be more than happy to build you as many systems as you want for similar prices above. Of course, my fee for doing all this is not included in that price, and if you're too lazy to do it yourself, it's not gonna be cheap.

don't build anything for anyone. Just tell us the parts for your unrealistically cheap system.

mike678

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Quote from: bcpokey on August 03, 2011, 08:18:26 PM

Quote from: yochdog on August 03, 2011, 01:54:38 PM

so you want me to use a MOBO with 2 PCIx slots?

I'd be more than happy to build you as many systems as you want for similar prices above. Of course, my fee for doing all this is not included in that price, and if you're too lazy to do it yourself, it's not gonna be cheap.

I don't really think he is serious about letting us build rigs for him. If he is though he directed it to me originally and I honestly would take $250 dollars from the $5250 he mentioned because I make theoretical builds anyway on my free time Tongue

bcpokey

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Quote from: yochdog on August 03, 2011, 01:54:38 PM

so you want me to use a MOBO with 2 PCIx slots?

I'd be more than happy to build you as many systems as you want for similar prices above. Of course, my fee for doing all this is not included in that price, and if you're too lazy to do it yourself, it's not gonna be cheap.

yochdog

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Quote from: CanaryInTheMine on August 03, 2011, 03:20:24 PM

Quote from: yochdog on August 03, 2011, 01:54:38 PM

so you want me to use a MOBO with 2 PCIx slots?

And with this comment, I will not entertain anymore of your posts until you spend a good day reading as many posts as you can to learn first, then ask good questions later.

Awesome. I will consider us even then.

Bitcoin_Silver_Supply

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We're all quite used to that by now Tiago, we just tend to assume it comes first and foremost from Angelus Grin

Topic: Miners that pay for electricity should seriously start reconsidering - page 2. (Read 8090 times)