[Cialug] Bitcoin mining

[Matt]

The default value of a bitcoin on that page is off by a factor of 2 at the moment.  That could very well be the mean Bitcoin price from yesterday, and I don't know what exchange Google references for its price, but I trust Google's price over that website's price.

-- Matt (N0BOX)

Sent from my iPod Touch 5G

> On 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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