Bitcoin Math

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  • Vapid - BANNED FOR LIFE
    Barterer
    • Aug 2004
    • 4864

    #1

    Bitcoin Math

    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
    🚨 PBBC International 🚨
    • Apr 2010
    • 9931

    #2
    Yes, buy all you can get your hands on. Spend every last dollar you have.

    Comment

    • seeandsee
      Check SIG!
      • Mar 2006
      • 50945

      #3
      bitcoins in motion
      BUY MY SIG - 50$/Year

      Contact here

      Comment

      • Harmon
        ( ͡ʘ╭͜ʖ╮͡ʘ)
        • Mar 2004
        • 20012

        #4
        Originally posted by Coup
        Yes, buy all you can get your hands on. Spend every last dollar you have.
        [email protected]

        Comment

        • shake
          frc
          • Jul 2003
          • 4663

          #5
          If it worked even close to that, bitcoin would quickly change the complexity of the algorithm.
          Crazy fast VPS for $10 a month. Try with $20 free credit

          Comment

          • rowan
            Too lazy to set a custom title
            • Mar 2002
            • 17393

            #6
            Originally posted by Terrorist
            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.

            Comment

            • rowan
              Too lazy to set a custom title
              • Mar 2002
              • 17393

              #7
              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.

              Comment

              • Vapid - BANNED FOR LIFE
                Barterer
                • Aug 2004
                • 4864

                #8
                Originally posted by shake
                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...

                Comment

                • woj
                  <&(©¿©)&>
                  • Jul 2002
                  • 47882

                  #9
                  what's the point of selling equipment like that? isn't it easier for them to just mine coins directly?
                  Last edited by woj; 09-17-2012, 09:52 AM.
                  Custom Software Development, email: woj#at#wojfun#.#com to discuss details or skype: wojl2000 or gchat: wojfun or telegram: wojl2000
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                  • Vapid - BANNED FOR LIFE
                    Barterer
                    • Aug 2004
                    • 4864

                    #10
                    That was my initial thought too, the margins must be substantial. They also come from Missouri..

                    Comment

                    • rowan
                      Too lazy to set a custom title
                      • Mar 2002
                      • 17393

                      #11
                      Originally posted by woj
                      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

                      Comment

                      • Coup
                        🚨 PBBC International 🚨
                        • Apr 2010
                        • 9931

                        #12
                        Originally posted by woj
                        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.

                        Comment

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