Bitcoin Math

[Vapid - BANNED FOR LIFE]

Okay

$11~ each.

http://www.butterflylabs.com/order-f...e-sc-mini-rig/

$30k~ each.

Reward estimation @ 1,000 GH/s

PPS: 336.02 BTC/24h

https://deepbit.net/stats

yearly return $1,349,120.30
30k investment?

A few presumed constants but still...

[Coup]

Yes, buy all you can get your hands on. Spend every last dollar you have.

[seeandsee]

bitcoins in motion

[Harmon]

Yes, buy all you can get your hands on. Spend every last dollar you have.

[shake]

If it worked even close to that, bitcoin would quickly change the complexity of the algorithm.

[rowan]

Okay

$11~ each.

http://www.butterflylabs.com/order-f...e-sc-mini-rig/

$30k~ each.

Reward estimation @ 1,000 GH/s

PPS: 336.02 BTC/24h

https://deepbit.net/stats

yearly return $1,349,120.30
30k investment?

A few presumed constants but still...

That sort of return would be impossible. Are you accounting for electricity costs? I gave up mining about a year ago for that reason.

[rowan]

Now that I look more closely it seems they're using custom hardware with a much lower power draw...

http://www.butterflylabs.com/product-details/

One board draws 80W at maximum load and does 832MH/sec, or about 0.1W per MH. You'd make about $3/day revenue and pay <40c/day for electricity.

I remember reading something about rewards for solving bitcoins going from 50 to 25 sometime later this year, so your potential income would halve. Still profitable, but it would probably take over a year to break even. Too risky.

[Vapid - BANNED FOR LIFE]

If it worked even close to that, bitcoin would quickly change the complexity of the algorithm.

This is going to change the whole thing drastically.
Bringing the capacity of a large pool to an individual.

1000 Gh/sec is a million mh/sec...

Sure the complexity will rise exponentially
but only after a select few adopt this technology,
and probably make a killing in the process.

Most graphic cards do under 1000/mh/sec...

[woj]

what's the point of selling equipment like that? isn't it easier for them to just mine coins directly?

[Vapid - BANNED FOR LIFE]

That was my initial thought too, the margins must be substantial. They also come from Missouri..

[rowan]

what's the point of selling equipment like that? isn't it easier for them to just mine coins directly?

There's some discussion of what could happen if any one person gets a majority share of the network, and why they're not doing it. Seems you can "double spend" a mined BTC if you have enough power.

http://news.ycombinator.com/item?id=4120271

[Coup]

what's the point of selling equipment like that? isn't it easier for them to just mine coins directly?

because during a gold rush... you sell shovels.