Post
Topic
Board Bitcoin Discussion
Re: Three Men Mine $200,000 In Bitcoin Every Month
by
franky1
on 15/08/2014, 19:25:10 UTC
fuck me! now thats how its done  Cheesy Cheesy

EDIT: original maths was based on $40k electric. now edited to use coindesks quoted $60k electric

$200k in BTC is only 400btc
which equates to 13btc a day
which equates to 0.55btc an hour
which equates to 0.09259259 a block

which is 0.4% of network hash or 640 terrahash units or 2500 avalon3 units

just a shame the equipment is obsolete quite quickly and having to endlessly keep buying more
the 0.59btc per avalon unit x2500 units=1500coin cost.

so lets work out if they will break even:
with hashrate at 100peta in june, then last month averaging 125peta this month 150peta
=roughly 25% increase per month(ill use this as bases of simple math calculations per month).

so this months 400 coin will be made, 300 next month. 225 in october.
168btc in november
126btc december (cut off point as 126btc is where the 120btc of electric ("in excess of $60k" at $500per btc=120btc+ in electric))
=about 1219 coin by christmas
minus off the 120btc electric costs per month (600coin electric cost from now till christmas)
=619btc by coin hoard by christmas if selling coin for electric. or 1219 if hoarding all coin.

either way the avalon3 miners are not profitable, which they will realise by the time it gets to christmas