[Cialug] Bitcoin mining

[David Champion]

Bitcoin mining would be interesting if it were actually accomplishing
something other than calculating hashes... like doing folding at home.

-dc

On Wed, Dec 10, 2014 at 6:39 PM, nickdoud Doud <computer_dj at hotmail.com>
wrote:

> I calculated 1.1 TH with the other defaults, 1100 W power and it said
> hardware paid in 60 days.
>
> > Date: Wed, 10 Dec 2014 18:34:45 -0600
> > From: matt at itwannabe.com
> > To: cialug at cialug.org
> > Subject: Re: [Cialug] Bitcoin mining
> >
> > BTW, after poking in all the numbers for that profitability calculator,
> > it came up with 153days (assuming the $0.15/kWh is correct for this
> area?).
> >
> > Unfortunately, the world of bitcoin doesn't stay unchanged for more than
> > a week, let alone 153 days, so my guess is that you might catch up on
> > profit fairly quickly for a short while, but eventually you would
> > realize that the function of profit in this sense is more logarithmic
> > than linear.
> >
> > -- Matt (N0BOX)
> >
> > On 12/10/2014 06:25 PM, Matt Stanton wrote:
> > > That thing would have made you a lot of money...
> > >
> > > ... back when bitcoin mining ASIC first hit the market.
> > >
> > > Now that this mining rig has been on the market long enough to be put
> > > in a Shell Shocker deal, there have been enough of them and other ASIC
> > > miners to raise the bitcoin mining difficulty to such a level that you
> > > can no longer pay one of these (and the electricity you pump through
> > > it) off with the bitcoins you mine.
> > >
> > > -- Matt (N0BOX)
> > >
> > > On 12/10/2014 06:17 PM, nickdoud Doud wrote:
> > >> With New Egg 1 PM Shell Shocker today:
> > >>
> http://www.newegg.com/Special/ShellShocker.aspx?cm_sp=Homepage_SS-_-P3_9SIA68020W5714-_-12102014
> > >>
> > >> http://www.bitcrane.com/goods.php?id=1
> > >> BITCOIN MINER T-110 for $600 I did some looking at the data
> > >>   http://www.bitcoinx.com/profit/
> > >>   I see this Linux based box can make some money $$$ thought I would
> > >> ask the group if anyone has any additional comments on this quick
> > >> money making hardware.
> > >>   Nick
> > >>
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