With all the hype going on with asic-scrypt miners and brand new 3th/s bitcoin miners i decided to go vertcoin.
Why?
Well... have a look on *bay and all the other sellingplatforms.
After that, read some threads about the big companies, not just one thread, visit some different forums (fori?)
But the real eye-opener was KNC!
They offer a "plan B" which means: if your hardware will be late (they cant deliver on Q2), you will get payed with bitcoin out of their datacenter...
Which they will mine "for you" with neptunes at atleast 3th/s and "all the bitcoins will be transfered to your wallet!".
So to make it really clear: they are mining AGAINST their costumers.
Killing the ROI with an increased difficult of sha (scrypt too?) using payed (from their costumers!) hardware!
I am not one of the XXX-mh/s private man, im living in germany and powercosts are too high to setup a big farm.
But i am still mining (1.5mh/s lol) because i think we need a better way than "fiat"-money.
After all: with the small profit i´m making im giving my son a bit pocket money in his study to go out and have some fun...
I am just a joe average, having a joe average job, doing joe average things...
But i believe in the power of people and not in the power of "banksters"!
just my 2 cents of wisdom...
Hi Kartoffelknilch,
how do you work out to mine on a small profibility in germany ? I have 1.3Mh eating 1300 Watt / hour.
It´s 31,3 kwh / 24 h @ 0.25€ = 7,82€ / day power cost incl. tax.
If all is fine you get 5.8 VTC / day @ 0.002 BTC = 0.0116 BTC = 5.22 US$ = 3.81 €
Alltogehter you have 3.81€ - 7.82 € = -4.01 € / day
Each day mining VTC for me would be a lost of 4.01€ / day = - 120€ Month.
Maybe you have some better conditions, but you can´t cover 100% loss against me only to cover power bill.
Don´t speak from your invest. If you have a 1.5 Mh rig you have minimum a invest of 1300-1500€.
Mining VTC in Germany is a 100% loss. I don´t know how it is in other country´s but it´s hard to get any profit anywhere
if you have to pay for your power.
@ all - on which rate are you mining and do you mine on a dayly loss ?
I can´t see any coin mining without a loss with GPU power.
I know what you mean... germany sucks with all the EEG add-ons on our powerbill + extra costs to get rid of all the nuclear-powerplants/waste...
At home im building the systems and sending them to my son. He lives in a dormitory (students resident) where he has no powercosts at all.
We bought our (bigger) systems october last year and had some luck with exploding prices of btc/ltc/ftc. We had a RoI this year on february.
My tip: mining at home => financial suicide!
Find a place on your work, some forgotten compartment... speak with your boss if you may install a "research project"/rendering machine.
Powercosts for business are realy cheap in germany.
Or get a child and let´em study
On the other side: what happends to your bill if vertcoin goes "viral" and is hitting a btc exchange like ltc?
I am pretty sure ltc will drop hard with all the asics because "joe average" cant effort even one asic to have a chance with all the whales/companies start mining on 9999,-$ machines with 200mh/s. There will be a flood of cheap ltc/ftc/doge/whatever-scrypt-coin.
So Mr. Average will change to vtc/scrypt-n to make some bucks.
And if the devs of vtc are holding their promise to do all what is nessesary to block asics, we will have some nice profits summer/fall 2014.
And even more if we are holding our vtc even longer i think.
And best of all: all thouse darn f-ing asics will rot in some cellars, 10k bucks crumble to rust
Btw: is there anything else you can do with all the cheap bitcoin-miners hitting ebay? Something like SETI@home or likewise?
Anybody interested in writing a SETI@home program for "old" and "slow" bitcoin miners?
So thouse old miners will have a last charity and fighting cancer/finding ET...
That idea sounds nice to me