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Wow. The value has roughly 4x-ed since I was looking at bitcoin for the first time a couple months ago. Maybe it is worth it to implement my idea of writing so
by jackowayed 16y ago
Wow. The value has roughly 4x-ed since I was looking at bitcoin for the first time a couple months ago.
Maybe it is worth it to implement my idea of writing something that tries to get free cycles out of EC2 Spot instances by predicting when the price will rise and spinning up instances before it does. (They don't charge you for fractional hours if they kill you due to a price increase.)
EDIT: I think it's actually gotten a little less favorable to generate bitcoins. My cheap VPS peaks at 1M hashes/sec, which according to http://www.alloscomp.com/bitcoin/calculator.php http://www.alloscomp.com/bitcoin/calculator.php used to mean it would take around 250 days to generate a block, as I recall. Now, the value of a block has 4xed, but the average time to generate a block at 1M hps is now 1300 days, which is more than 5x as long.
- deleted 16y ago[deleted]
- sgornick 16y agoCPU mining produces a tiny fraction of the level that GPU mining does. Even on Amazon's GPU clusters, it is a money loser: http://www.bitcoin.org/smf/index.php?topic=1793.0 http://www.bitcoin.org/smf/index.php?topic=1793.0 If you got the GPU hardware, though, it can be worth it to mine! Read this Twitter stream: http://twitter.com/bitcoinminer http://twitter.com/bitcoinminer
- bdonlan 16y agoThese days there are 'pooled' mining systems in which you can receive payment for working on fractions of a block.
- jackowayed 16y agoBut that doesn't change the fact that, since I was able to get $12.50 every 250 days and now I can get $50 every 1250 days, I'm getting less money per day than before.