Re: Mining for the non-profit sector. Need to exceed 2 mBTC per day per 1070…
My test machine had been mining for 71 days at 2.1-2.4 mBTC, yielding consistent payouts of over $20 CAD per week.
$20 CAD per week / 7 added up to almost $3 CAD per day. Divide that by 3 (these machines would mine in beneficiaries' homes overnight for 8 hours per night during off-peak hours for power rates, all beneficiaries would be living in Toronto Community Housing so their electricity would be paid for) $1 CAD per day for ~30 000 days is about $30 000 per beneficiary family which is enough to subsidize their gifted child's education by about 50%. What a horrifically shitty idea, I know.
And for the absolute final time, and blown up for everybody who wants me to build a model based on mine-and-trade.
$20 CAD per week / 7 added up to almost $3 CAD per day. Divide that by 3 (these machines would mine in beneficiaries' homes overnight for 8 hours per night during off-peak hours for power rates, all beneficiaries would be living in Toronto Community Housing so their electricity would be paid for) $1 CAD per day for ~30 000 days is about $30 000 per beneficiary family which is enough to subsidize their gifted child's education by about 50%. What a horrifically shitty idea, I know.
And for the absolute final time, and blown up for everybody who wants me to build a model based on mine-and-trade.
MY FUNDERS WILL NOT BACK A PROJECT THAT EXPECTS POOR FAMILIES TO TRADE CRYPTOCURRENCIES. IT WAS LIKE PULLING TEETH TO CONVINCE THEM THAT BITCOINS AREN'T THE DEVIL'S MONEY AND THAT MODERN PCs ARE NOT DEVIL BOXES. *****IF YOU WANT TO WRITE SOFTWARE THAT WILL MINE WHATEVER IS MOST VALUABLE IN A GIVEN MOMENT AND PAYS USERS FOR THEIR EFFORT IN BITCOINS, YOU CAN HARDCODE THE PROCEEDS OF CPU MINING TO GO DIRECTLY TO YOUR OWN WALLETS*****. IF THIS IS NOT A PROJECT THAT SOUNDS INTERESTING TO YOU THEN PLEASE STOP REPLYING TO THIS THREAD.
all i have to say is good luck on mining for that long and good luck to your funders. Stay on nicehash!!!, dont go looking into other pools.
Okay, so I left out some details for those equations to make sense. They'd be getting their quad-1070 machine so it would be ~$4 CAD per day from their own machines, ~$1 per day from my organization's in-house miners, all of which would be matched by my funders. So yes, it would be possible to get $30 000 in 3000 days, not 82 years as some people are suggesting. And yes, my models are based on oversimplifications about the fact that bitcoin has a long term growth rate that beats the crap out of inflation but gets harder to do over time, so basically every equation I've given you is based on an assumption that the value of mining capacity to go up approximately at 2/3 the rate of expected cost inflation. Does anyone here think that's not a conservative assumption to make?
Edit: You should really request a longer warranty from your GPU manufacturer. just a heads up if you are looking to mine that LONG