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ROI Plot and Concerns for Future Price

Smarter

Smarter

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Joined
Jan 15, 2010
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I have dabbled in Mining for around a year, here and there for use on a certain Tor Network Site ;). I currently have a automotive shop I rent, with unlimited power for Free included in the very small monthly fee, and I have 1200sqft of space. As well as 3G in the area. I would like to invest into a mining rig that will give me enough monthly income to pay the monthly fee for the unit ($275.00 USD / 61.6895 BTC - Monthly). Heat is also not an issue as the shop is in a valley and is dehumidified but not heated, and stays in the 60-70's during summer and is currently about 40's at best, so heat would be appreciated even.

Current Setup:
HD5770 OC 960/600 - 207.5MHash (Avg)


I would like to know if anyone could help me with a build that would produce 3075~ MHash/s for as CHEAP as possible, regardless of Power or Heat!


Thanks,
Smarter
 
The power you would need to use would get you evicted from said shop after the bill comes in. This isn't even a real currency and not protected by the government, do as you will but anything unprotected is not a good thing
 
how many apple 2's do you need to run that many accounts?
 
Swizzie said:
The power you would need to use would get you evicted from said shop after the bill comes in. This isn't even a real currency and not protected by the government, do as you will but anything unprotected is not a good thing
Click to expand...

Actually, you'd be surprised, we get our power from Niagara Falls, power is stupid cheap here. I have a 120/220 Line, Unlimited Power ;). I'd think Welders and such would pull more power than a 3k Mhash rig?
 
How do u get so many each day? I get like 0.0400 a day with my 560 nvidia
 
Is there really cards for mining?

Really? What does mining actually do? What does it calculate.
 
Danamian said:
Is there really cards for mining?

Really? What does mining actually do? What does it calculate.
Click to expand...

You're doing mathmatically computations to either verify create a new block of 50 Bitcoins or computing if the signature on a transaction is valid. Basically each bitcoin has a unique ID and the transaction creates a hash that says you are allowed to transfer the value of the bitcoin to someone else. The rest of the community verifies the said signature to verify that its valid.

There are fixed number of bitcoins possible to be created and as time goes on the effort to produce additional bitcoins becomes more and more expensive. As you see the number of bitcoins produced going down you'll start to see the transaction fees and such go up.

I wouldn't invest anything that I wasn't willing to lose...At these difficulties you're going to need some pretty beefy rigs to produce enough to pay your rent.

Take a look at:
https://en.bitcoin.it/wiki/Mining_hardware_comparison

You're probably going to want to go with an MB with 4-6 PCI-e slots and then get adapters so you can fit the cards on the board. You don't need much for a processor so just go with a cheap dual core AMD board. You'll also need a big power supply probably 1000-1250W if you are running 4+ cards.

Not sure if buying mining rigs is even that economical with the lower price of bit coins...I haven't seen a break down lately.
 
Anegus said:
You're doing mathmatically computations to either verify create a new block of 50 Bitcoins or computing if the signature on a transaction is valid. Basically each bitcoin has a unique ID and the transaction creates a hash that says you are allowed to transfer the value of the bitcoin to someone else. The rest of the community verifies the said signature to verify that its valid.

There are fixed number of bitcoins possible to be created and as time goes on the effort to produce additional bitcoins becomes more and more expensive. As you see the number of bitcoins produced going down you'll start to see the transaction fees and such go up.

I wouldn't invest anything that I wasn't willing to lose...At these difficulties you're going to need some pretty beefy rigs to produce enough to pay your rent.

Take a look at:
https://en.bitcoin.it/wiki/Mining_hardware_comparison

You're probably going to want to go with an MB with 4-6 PCI-e slots and then get adapters so you can fit the cards on the board. You don't need much for a processor so just go with a cheap dual core AMD board. You'll also need a big power supply probably 1000-1250W if you are running 4+ cards.

Not sure if buying mining rigs is even that economical with the lower price of bit coins...I haven't seen a break down lately.
Click to expand...

With the existence of PPS (Pay Per Share) pool mining, I do believe that the return could be somewhat calculated. I have created a Spreadsheet with very extensive and detailed information. I would like to create a "minimum expectancy" Rig. In essence, if I invest the money into a Rig and calculate it at "near worst case scenario", I am giving my self an opportunity to profit off my shop. Simply put: By investing in a Rig that can produce at minimum the monthly cost of my shop, then anything over that minimum is profit. (As I would already be paying for the shop, with no return). The rig itself is also able to be liquidated in the event of issues.

See: https://docs.google.com/spreadsheet/ccc?key=0AnvAsg9D-3vRdElfQXhrdm5zMTNkYTQyQmJ0TTlJZlE
 
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I don't get how i get the bitcoins, and how do i see how many i have etc

How long do i need to run etc etc Can anyone explain
 
i believe the Radeon 69XX series is really good for mining price wise, you will want to dowclock memory and overclock core for max Mhash's. you should check out the bitcoin forums as there are a couple benchmarks between what cards give you the most Mhash/$
 
If power isn't a problem and you don't care about heat then you can basically go with any ATI card (se comparison here: https://en.bitcoin.it/wiki/Mining_hardware_comparison )
If you going for traditional Graphic cards i would recommend 3x dual processor cards like 5970 or 7990 for every computer.
But personally i would have bought FPGA miners, approximately 20w instead of 200-300w per card (you need 2 FPGA cards to get about the same MHash).
If you buy FPGA's you only need one computer.

Computer Setup:

CPU - AMD Sempron 145 2.8GHz / 1MB / Socket AM3 (Boxed)
RAM - Corsair ValueSelect 4 GB DDR3 PC3-10666 1333MHz (CMV4GX3M2A1333C9) (2x2GB)
MB - MSI - Socket AM3 - ATX AMD 890FX (890FXA-GD70) - DDR3 / PCI-E / USB3
Usb stick - PATRIOT/PDP USB Flash Drive 8GB Xporter XT Rage 25MB/s W (PEF8GRUSB)
PSU - SEASONIC X-1250, PSU 1250W ATX12V ver 2.3, active PFC, 12cm fan (X-1250) (Not the cheapest but the best)
GPU - 3x5970

Any Linux as OS!

That will give you about 1800 Mhash/rig
 
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cyshadow said:
Pretty much this, and because Bitcoin is a big load of bullshit. Sell WoW gold like everyone else. You'll make more money.
Click to expand...

I'm really interested to know exactly what you think is bullshit with Bitcoin.
If you tell me what you make from selling gold i will tell you what i make from mining BC's.
 
Biocide said:
I'm really interested to know exactly what you think is bullshit with Bitcoin.
If you tell me what you make from selling gold i will tell you what i make from mining BC's.
Click to expand...


I make a few hundred a week selling WoW gold and the occasional bot leveling for someone. From all of the videos I've seen, and research I've done on Bitcoin operations unless you aren't paying for your electricity you would never come close to making that much(and that isn't very much) due to the fact that you hardly break even after the bill is paid. I highly doubt, no matter what you're about to tell me, that you make a few hundred a week PROFIT from Bitcoin mining.
 
cyshadow said:
I make a few hundred a week selling WoW gold and the occasional bot leveling for someone. From all of the videos I've seen, and research I've done on Bitcoin operations unless you aren't paying for your electricity you would never come close to making that much(and that isn't very much) due to the fact that you hardly break even after the bill is paid. I highly doubt, no matter what you're about to tell me, that you make a few hundred a week PROFIT from Bitcoin mining.
Click to expand...

He's not paying for electricity so he very well could make some money with an appropriate mining with the right ROI expectations and equipment. Smarter seems to have ran the numbers or at least looked at the current exchange rates. Is it a risky investment, sure but as someone else in this thread already said, don't invest what you can't afford to lose. I personally have a few FPGA's and they do cost more individually they are much more efficient and can run off of one computer at less power, though I too do not pay for electricity.
 
Danamian said:
How do u get so many each day? I get like 0.0400 a day with my 560 nvidia
Click to expand...

You can't get anything out of a non-professional nVidia chip.

Hash grinding calculations such as brute-forcing or Bitcoin mining make use of the double-precision floating-point number format.

These types of calculation being utterly useless when it comes to video games (they don't require much finesse, so they use single-precision), nVidia pretty much stripped all its multimedia chips of any relevant double-precision arithmetics to push forward their Tegra platform (aimed at double-precision calculation and professional / scientific use).
ATI doesn't have such a platform and doesn't give much of a crap, so you can actually squeeze a lot from their mid-end chips.
 
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Generation for generation the ATI cards produce about 10x the hash rate of the nVidia cards. It's an archetexture issue. Generating a valid hash for bitcoins involves calculating a SHA-256 hash on a data block in the bitcoin distributed ledger + a nonce. But in simple terms, he who can calculate the fastest for the least power and equipment cost makes the most money.

If you want to experiment with different numbers to see profitability I recommend this site... bitcoinX.com It'a fairly accurate, but even at high hash rate rigs you are still just rolling the dice... several billion times a second. That kind of sample rate smooths out of lot of the "luck" factor, both good and bad, so it's mostly spot on.
 
Smarter said:
I have dabbled in Mining for around a year, here and there for use on a certain Tor Network Site ;). I currently have a automotive shop I rent, with unlimited power for Free included in the very small monthly fee, and I have 1200sqft of space. As well as 3G in the area. I would like to invest into a mining rig that will give me enough monthly income to pay the monthly fee for the unit ($275.00 USD / 61.6895 BTC - Monthly). Heat is also not an issue as the shop is in a valley and is dehumidified but not heated, and stays in the 60-70's during summer and is currently about 40's at best, so heat would be appreciated even.

Current Setup:
HD5770 OC 960/600 - 207.5MHash (Avg)


I would like to know if anyone could help me with a build that would produce 3075~ MHash/s for as CHEAP as possible, regardless of Power or Heat!
Thanks,
Smarter
Click to expand...


Fuck conventional rigs. Products | Butterfly Labs

You're welcome.

@cyshadow Lol, I love how sure you are that you're right when you are completely wrong in every way shape and form. Try this in your calculations: 832 Mega Hash / s @ 80w.
 
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