Another calc here that figures electric cost into the equation
http://linewbie.com/minebtc/dashboard.php
Topic: Mining still worth it? - page 2. (Read 11168 times)
Acc'd to this, 1700 Mhash will net 3 coins/day.
http://www.alloscomp.com/bitcoin/calculator.php
So, doesn't really matter the pool, 1.7Ghash is a lot of hashing.
http://www.alloscomp.com/bitcoin/calculator.php
So, doesn't really matter the pool, 1.7Ghash is a lot of hashing.
I got around 12btc over the last 2-3 days w\ ~1.7Gh I'd say it's still worth it.
Seriously? On which pool? 
I got around 12btc over the last 2-3 days w\ ~1.7Gh I'd say it's still worth it.
Or somebody could hack Mt. Gox, steal all the funds and shatter confidence so bad the price falls to $1 or below.
Yeah sounds very easy to do
Just remember...CPU's are now obsolete for mining. GPU's are next.
Way to strike a reasonable discussion.
His answer comes from the fact that this question gets asked constantly. For example, 4 or 5 threads under this there is this one: http://forum.bitcoin.org/index.php?topic=15571.0
And the answer is that nobody knows.
Is their still room for new miners to start now and still be profitable? (individual miners and people who have money to spent on a couple dozen rigs).
Next difficulty level is around 845,000 and will probably go over a million in 10 days time. Whatever BTC per day rate you have will be halved within 2 weeks, and probably halved again by early July. Will the price go up to compensate? Well, the difficulty is only relevant to miners. Speculators who bought their BTCs at $1 a few months ago, or $10 on Friday, aren't going to care how expensive your power is or how little return you get for a $600 6990.
The only way mining is proftable right now is:
- You bought the gear a month or two ago, and it has already paid for itself
- Or, whatever BTC you generate now you intend to keep. Not worth selling for $20ea as you're looking for more.
On the last point, be aware that there are a lot of miners in the same boat. We saw the BTC price fall 66% within 2 days. Could you hold out and not sell up? At least if you buy the hardware and BTC crashes again you get to keep it. Speculators are left with large losses.
I believe it can be profitable, otherwise I wouldn't have built a rig just this Friday. But... you never know so the crystal ball might be the only that can tell you if it's still "worth it".
There's a risk associated with it, a big mining operation could come online any minute and produce 1 Th/s, driving difficulty wild. Or somebody could hack Mt. Gox, steal all the funds and shatter confidence so bad the price falls to $1 or below.
That's why I keep my risk low by only having one card in a cheap rig. If everything falls apart, I hope to sell it to a gamer for a reasonable amount.
Apart from that, the price could also skyrocket tomorrow. Your investment could pay off in 2 - 3 months and you'd only have to factor in the price of electricity from there on.
You never know.
There's a risk associated with it, a big mining operation could come online any minute and produce 1 Th/s, driving difficulty wild. Or somebody could hack Mt. Gox, steal all the funds and shatter confidence so bad the price falls to $1 or below.
That's why I keep my risk low by only having one card in a cheap rig. If everything falls apart, I hope to sell it to a gamer for a reasonable amount.
Apart from that, the price could also skyrocket tomorrow. Your investment could pay off in 2 - 3 months and you'd only have to factor in the price of electricity from there on.
You never know.
Way to strike a reasonable discussion.
Ask this:
What's your best guess for the next 1-6 months?
Is their still room for new miners to start now and still be profitable? (individual miners and people who have money to spent on a couple dozen rigs).
Now that we've seen this "bubble" stable out, do you still think value will graduate to $50USD or better and still be a player Vs the difficulty?
Is their still room for new miners to start now and still be profitable? (individual miners and people who have money to spent on a couple dozen rigs).
Now that we've seen this "bubble" stable out, do you still think value will graduate to $50USD or better and still be a player Vs the difficulty?
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