Quote from: coinits on April 07, 2015, 04:50:40 PM

Quote from: hazenyc on April 07, 2015, 03:23:20 PM

Quote from: TrevorS on April 07, 2015, 04:05:11 AM

Quote from: mrc_spot on April 07, 2015, 03:48:05 AM

Quote from: TrevorS on April 06, 2015, 11:15:30 PM

As I understand, the S5 is on the order of 40 to 50% more efficient than the S3. The S3 is rated at around 360W at the wall and the S5 around 590W at the wall. Expect a 2 to 4% greater efficiency with Gold Vs Bronze supply.

Thanks for reply

I want to know exact unit to calculate electric bill. 1 unit = 1000 watts so how much time it will take for antminer s5/s3 to reach 1 unit of electricity with normal smps.

An example: My electricity cost is 14.5 cents per KWH (KiloWattHour). To run an S5 at 350MHz for one day costs me approximately (0.145USD)*(590W)*(24hours)/1KWH = 2.0532USD per S5 per day. I'd probably round it to 2 USD/day.

I have actually written up a commodity cost of production model for Bitcoin (You can download it here: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2580904) -- But anyway, the idea is if bitcoins are more similar to a produced commodity than a money currency, their marginal cost (say over a day) should equal their marginal product (say over a day).

If the daily cost to run an S5 = 2.0532 $/day and the expected daily production for 1.1 TH/s = 0.011188 BTC/day based on current difficulty
These two should be theoretically equivalent since marginal cost = marginal product .. so dividing one by the other simply gives you one because dividing anything by itself is one.
However -- since the numerator (cost) units are in $/day and the the denominator (product) units are in BTC/day the "1" is scaled up to accomodate the resulting dimensional space of $/BTC .

So: (2.0532 $/day) / (0.011188 BTC/day) = $183.52/BTC <-- this is your breakeven price (given the same difficulty) where below which you should stop mining.

Ok great! But, not everybody mining in the BTC network has a 0.51W efficient S5, the average mining efficiency across all miners seems to be closer to 0.775 J/GH right now - and the expected daily production for 1 GH/s is -- 0.01017 BTC/day. 14.5 cents per kWh is about the worldwide average.. so taking that into account the cost becomes .145 x .775 x 24 = $2.69 and $2.69/0.01017BTC = $264.50/BTC which is pretty close to the current market price.

And knowing is half the battle..

If I was an American I would never refer to btc as a commodity nor refer to trading it for cash. Refer to it as currency and when you exchange BTC Currency for US Currency it is not a trade. With civil forfeiture laws you are exposing yourself to confiscation of the assets of yourself, wife, and kids. Don't believe me? Its just happened because a dude did not get licensed to turn his btc into cash and vice-versa. According to the government, you must obtain a Federal trading license to trade with YOURSELF or you get SWATed, jailed, and destroyed financially.

https://bitcointalk.org/index.php?topic=1004863.0
https://bitcointalk.org/index.php?topic=1005634.0
https://bitcointalk.org/index.php?topic=1004863.0

NOTE: You will not get a letter from Uncle Sam saying you must get the license. You will just get a SWAT Team desceding on you exercising a no-knock warrant with guns in your face telling you to shut the fuck up, get your hands behind your head and lay down.

I believe it but how much of that is the truth as to what he or they are telling us . how much did he or they try to get a way with with out reporting it in the US any income it income and should be reported, that so called 600 dollar rule is not what most think.

I 'm seeing a lawyer tomorrow to cover my but i need to fine out more about the law in the US on btc no disrespect intended > not what some one tells me on the WEBB. I am starting to make more then i ever expected i would , i now have to watch how much i make due i am on SS disabled, my Dr wont let me work that's even worse for me on top of reporting it. but that law i will ask the lawyer about I only know of one state right now that has such a law that is new york. and the FEBs have all ways been that way they just pop on you , you never know when, how else are they gonna catch the bad guy if he knows when hell run or hide it .I'll bet they were dong more then what meets the eye , that's coming from one who doesn't trust the GOV at all or talking against them. I know that feeling with guns in your face telling you to shut the fuck up , get held up in the middle of nite same feeling but worse the FEBS have some rules to follow the guy who puts a gun in your face does not care nor due the FEBS . you did say SWAT not FEBS my bad so that's more then likely a state thing so I'm guessing those three live in NY.

but were OF topic so lets let that it go at that thought your GOV Is same way etc. just more under control .

The thing i fine funny about that is they just auctioned off a lot of BTC for the BFL ordeal and other illegal actively that goes on with BTC which gives BTC a bad name.

i wonder if the ones that bought won it even had such a license.