Re: Enjoy the Last 24 Hours of Profitable GPU Mining

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?

If I lived in British Columbia or similar this guy would have more of a valid point. In terms of electric and heat though I (unfortunately?) live in the southern united states so there are still days where I have to use AC. December should end all that, but I did not disclose this so I totally understand why the arguments for continued mining were made.

It is a gamble. I believe my solution is to sell my cards for "market rates" which usually takes time. So I think i'll mine with them and shut down and sell off as they sell. I remember when the $2 per coin price hit I sold a lot of my 5000 series cards for decent prices (slightly below market) and at the point I was just trying to break even. Luckily I did but it was still 2 or 3 months of listening to fans in various rooms for nothing but some fun experience.

Again, with ASICS on the doorstep its either shut down now or shut down when that package is opened... which is who knows when.. but supposedly soon.

I was really hoping that in the 10 hours since the payout drop we'd see coin prices move to $14+ but no such luck. I'll give it some more time before ebay and craigslist become my mistress.