Post
Topic
Board Beginners & Help
Re: Just purchased my first miner!!!! It'll be here in 2 days
by
NISMOkwim
on 24/06/2011, 20:06:28 UTC


Feel free to ask questions/comments Tongue

 Have you worked out the very ~ lifetime ROI on this?

 I ask this question as I am currently under the impression you will only get back a fraction of its costs (and would like to be convinced otherwise as I have cancelled a dedicated machine I had on order)

My previous calculations weren't correct. I hadn't realized the extent that the difficulty increase would cut into profits. I am canceling my order now Sad
But to answer your question, at 2 Ghash/s at $17

MonthBTCUSD
130.6$520.2
210.04$170.68
33.29$55.93
Total42.93$746.81

And with the $91.59/month in electricity costs, I'd be left with about $472.04. So finally after 3 months I'd still be -$1965.57.
This would be only marginally worse if I resold all of the hardware for 40% of their original value, $948.33. Then I'd be -$1017.24

I decided to look at it with a mining pool and this is what I found.




Current Round
Total Pool Ghash/s    1906.47
My Ghash/s              2
Pool Shares             201,669
My Share of Shares   211.6

Estimated Growth      45%
USD Rate                 $17

MonthPool $My Share
1$520,216.10$545.83
2$170,639.54$179.04
3$55,972.67$58.73
Total$746,828.31$783.60

Given this minuscule $36.79 increase, I'd still be -$980.45



Having seen these numbers, at this point in the mining game you'd be better off starting a mining pool to compete with the big ones. This particular pool, if charging a 2% use fee, would generate +$14,936.57 in 3 months!!!!

Now that's where the real money is at.

To make these calculations I used this calculator: http://striketeam.ath.cx/btccalc/btccalc.php
And I used the numbers from this mining pool: http://mining.bitcoin.cz/stats/

Check em' out!!!! They're both pretty cool Smiley