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If I understand their graph, they are generating about 0.29 BTC / day with this. Current BTC exchange is $118, so $34.22 revenue / day. At 44W, they'll spend
by gregable 13y ago
If I understand their graph, they are generating about 0.29 BTC / day with this. Current BTC exchange is $118, so $34.22 revenue / day. At 44W, they'll spend ~1kW/day on power so only around $0.10 or so depending on where their power is coming from. So their break even point is somewhere around 8 days if I have everything correct.
It seems that if these devices can be produced at scale, the marginal cost of mining 1 BTC will be only about $0.30 for now, thereby possibly pushing down the market price for BTC significantly.
- maxerickson 13y agoBitcoin are mined at a (relatively) fixed rate, around 3600 per day right now. Mining has little impact on the market price (10,000s of bitcoin are crossing Mt Gox each day). What will happen is that the 0.29 BTC / day will go down as more people plug in their asic miners.
- nobodysfool 13y agoYeah, that line from the story: >So in just two weeks, those lucky enough to have snagged one of these rigs will have paid off the initial investment. Everything after that is gravy. That's the biggest joke ever. The difficulty will go up substantially once thousands of people get their ASIC miners. It will take a lot longer than two weeks to pay itself off.
- mikeyouse 13y agoFrom the very next paragraph: > Meanwhile, with more and more computers joining the network, mining difficulty is quickly getting harder. So the amount of money these machines can make per day is slowly declining.
- wintersFright 13y agoThe value in USD of BTC comes from the supply and demand of people exchanging it for USD. So the value is derived from usage, not the cost of what it took to mine. How much does it cost the Fed to mint a USD? The gap in cost/value is called seigniorage.