Post
Topic
Board Mining
Re: Enjoy the Last 24 Hours of Profitable GPU Mining
by
crazyates
on 28/11/2012, 17:44:09 UTC
It's winter. That means we have to use heat. So, rather than running the electric base-board heaters, I'll run my BTC miner. Even if it breaks even, it's still better than having to pay for heat.

If you are unfortunate to have electric heat I guess that is true. For those of us with natural gas heaters, using miners as heat would cost more.

I just did a calculation based on current price of $12.31

Mining profitability (my rigs) per day: $5.29

Cost of whole house per day electricity (most recent bill): $4.86
Cost of mining rigs (which help to heat now): $3.44

So it appears bitcoin would still pay my electric bill plus about $10/mo and reduce my gas bill somewhat. Not enough to keep $1200 worth of GPUs unsold.

I'll give the coin price a few days to rise. If it doesn't, shutting down. In reality, with ASICs right around the corner, its either shut down today or what, shutdown in a month or so?

I don't know what size house you have, or mining rig you have (probably large and small respectively), but you're looking at it the wrong way. You have a 24/7 heater running, all electrical use in your house is paid, and it is also making you $13/mo towards any additional heating you're running.

Not saying you shouldn't shut down, but it's not just paying itself +10 bucks towards your gas bill.

You missed the part where it's not worth the $1200 he's essentially paying by not selling the hardware.

Option A: Sell the hardware and get $1200 now.
Option B: Heat the house, make $10 a month, and take what, 2 years to make back that same $1200?

Why wait?