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Old December 5th, 2013, 10:04 AM   #261
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What the fukc is this? David Woo himself endorsing bitcoin? I guess I can stop posting in this thread, BTC just became mainstream.

http://finance.yahoo.com/news/quite-...153805744.html
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Old December 5th, 2013, 10:05 AM   #262
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What is your expected hashrate?
2280


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Old December 5th, 2013, 10:07 AM   #263
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2280


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I read into it a little bit. How the heck does the hashrate equate to ability to find the block or coin or whatever?

I didn't really understand that what they meant by "hiding coins" throughout the interwebs for people to mine and whatnot?
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Old December 5th, 2013, 10:15 AM   #264
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2280


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Here ya go. I'll do the math with you. This is current difficulty factoring in the % jump over the last two weeks and increasing until march. Take this chart and multiply it by 3 for the values of a 2280 hash. In a month you will be able to find less than .3 LTC per day In two months you will not be able to find .20 worth of LTC in a day.. This chart does not factor in mining pool fees or electricity. At that hash, I expect you to use roughly 9$ a day in electricity.

I project your current rig to be costing money opposed to generating money on January 16th, so you better hope LTC jumps big.. With a net profit (after electricity) of $70 factoring in electricity cost and two radeon cards (what I expect you to be using) If you run your miner into march 1st, you will be in the red. Every day you run your system after January 19th, you will be paying more money in electricity than net.

of course, this is figuring in at $40/coin. It's at $35 as I type this.



STABLE DIFFICULTY INCREASE
SPEED 700 KH/s
LTC/USD 40 $
DIFFICULTY JUMP/2016 Blocks 10%
Time between Diff Jumps 3.5

** Date Dificulty LTC/DAY LTCNetU SDNet**

12/5/2013 2160 0.32 2.38 95.26
12/10/2013 2376 0.29 3.41 136.50
12/13/2013 2614 0.27 4.35 173.99
12/17/2013 2875 0.24 5.20 208.07
12/20/2013 3163 0.22 5.98 239.05
12/24/2013 3479 0.20 6.68 267.22
12/27/2013 3827 0.18 7.32 292.82
12/31/2013 4210 0.17 7.90 316.10
1/3/2014 4631 0.15 8.43 337.26
1/7/2014 5094 0.14 8.91 356.50
1/10/2014 5604 0.12 9.35 373.99
1/14/2014 6164 0.11 9.75 389.89
1/17/2014 6780 0.10 10.11 404.34
1/21/2014 7458 0.09 10.44 417.48
1/24/2014 8204 0.09 10.74 429.43
1/28/2014 9025 0.08 11.01 440.29
1/31/2014 9927 0.07 11.25 450.16
2/4/2014 10920 0.06 11.48 459.13
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Old December 5th, 2013, 10:29 AM   #265
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Here ya go. I'll do the math with you. This is current difficulty factoring in the % jump over the last two weeks and increasing until march. Take this chart and multiply it by 3 for the values of a 2280 hash. In a month you will be able to find less than .3 LTC per day In two months you will not be able to find .20 worth of LTC in a day.. This chart does not factor in mining pool fees or electricity. At that hash, I expect you to use roughly 9$ a day in electricity.

I project your current rig to be costing money opposed to generating money on January 16th, so you better hope LTC jumps big.. With a net profit (after electricity) of $70 factoring in electricity cost and two radeon cards (what I expect you to be using) If you run your miner into march 1st, you will be in the red.



STABLE DIFFICULTY INCREASE
SPEED 700 KH/s
LTC/USD 40 $
DIFFICULTY JUMP/2016 Blocks 10%
Time between Diff Jumps 3.5

** Date Dificulty LTC/DAY LTCNetU SDNet**

12/5/2013 2160 0.32 2.38 95.26
12/10/2013 2376 0.29 3.41 136.50
12/13/2013 2614 0.27 4.35 173.99
12/17/2013 2875 0.24 5.20 208.07
12/20/2013 3163 0.22 5.98 239.05
12/24/2013 3479 0.20 6.68 267.22
12/27/2013 3827 0.18 7.32 292.82
12/31/2013 4210 0.17 7.90 316.10
1/3/2014 4631 0.15 8.43 337.26
1/7/2014 5094 0.14 8.91 356.50
1/10/2014 5604 0.12 9.35 373.99
1/14/2014 6164 0.11 9.75 389.89
1/17/2014 6780 0.10 10.11 404.34
1/21/2014 7458 0.09 10.44 417.48
1/24/2014 8204 0.09 10.74 429.43
1/28/2014 9025 0.08 11.01 440.29
1/31/2014 9927 0.07 11.25 450.16
2/4/2014 10920 0.06 11.48 459.13
We have ran these charts too and we decided to gamble. Do you think LTC will stay at $40? I'm hoping that it skyrockets like bitcoin did. I know a lot of people are getting into mining thinking they are gonna make millions immediately but I understand if I am going to make any money at all it's going to be a while from now.


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Old December 5th, 2013, 10:30 AM   #266
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I read into it a little bit. How the heck does the hashrate equate to ability to find the block or coin or whatever?
math.

hashrate is how many math equations your rig can accomplish.

Difficulty / hashrate = finding coins
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Old December 5th, 2013, 10:30 AM   #267
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What the fukc is this? David Woo himself endorsing bitcoin? I guess I can stop posting in this thread, BTC just became mainstream.

http://finance.yahoo.com/news/quite-...153805744.html
Shit just got real.
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Old December 5th, 2013, 10:32 AM   #268
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Do you think LTC will stay at $40?

Is it a speculative bubble that will pop and hit $3 next week? Is it the start of a trend on it's way to $2500/coin?

Nobody knows. I don't have a clue. I'm making an "educated gamble"
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Old December 5th, 2013, 10:35 AM   #269
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Is it a speculative bubble that will pop and hit $3 next week? Is it the start of a trend on it's way to $2500/coin?

Nobody knows. I don't have a clue. I'm making an "educated gamble"
Exactly, I am hoping that it is going to go to $2500 a coin but if it doesn't then I am only out $600. I'm just better with computers than day trading and the mining is a whole lot more fun! If it tanks at least it was a fun ride!


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Old December 5th, 2013, 10:38 AM   #270
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Exactly, I am hoping that it is going to go to $2500 a coin but if it doesn't then I am only out $600. I'm just better with computers than day trading and the mining is a whole lot more fun! If it tanks at least it was a fun ride!


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You are forgetting your cost of electricity which will be around $300/month..

Ok, I just wanted you to know the math behind it. Most people look at a hashrate calculator vs current difficulty and see easy money to be made forgetting about the exponential growth of difficulty levels.

You will not be able to mine anything more than .01 of a litecoin a day after April 1014, which would have to make the cost of a LTC at $900 in order to break even.
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Old December 5th, 2013, 10:42 AM   #271
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Aren't there only 21 million bit-coins that will be able to be mined?
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Old December 5th, 2013, 10:43 AM   #272
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You are forgetting your cost of electricity which will be around $300/month..

Ok, I just wanted you to know the math behind it. Most people look at a hashrate calculator vs current difficulty and see easy money to be made.

You will not be able to mine anything more than .01 of a litecoin a day after April 1014, which would have to make the cost of a LTC at $900 in order to break even.
If difficulty does keep increasing we will just mine other coins that are more profitable! Or just shut it down until the price increases!


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Old December 5th, 2013, 10:44 AM   #273
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Aren't there only 21 million bit-coins that will be able to be mined?
can't they just print more?
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Old December 5th, 2013, 10:46 AM   #274
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If difficulty does keep increasing we will just mine other coins that are more profitable! Or just shut it down until the price increases!

There are no other profitable coins, they are all dieing. When you shut down your operation, you are just allowing ASIC systems to take the place of yours, rendering your operation even more obsolete.

What I'm saying, you're throwing $1200 into this for two months of work, where you MIGHT break even at current market price.

If you really believe LTC is going to go up, Why not just buy 35 LTC with that $1200? (vs the 21 LTC you will slowly mine over two months) Your math is not panning out in the least bit.
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Old December 5th, 2013, 10:48 AM   #275
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There are no other profitable coins, they are all dieing. When you shut down your operation, you are just allowing ASIC systems to take the place of yours, rendering your operation even more obsolete.

What I'm saying, you're throwing $1200 into this for two months of work, where you MIGHT break even at current market price.

If you really believe LTC is going to go up, Why not just buy 35 LTC with that $1200? (vs the 21 LTC you will slowly mine over two months) Your math is not panning out in the least bit.
Maybe he wants to be the Todd Hoffman of virtual Mining?
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Old December 5th, 2013, 10:54 AM   #276
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Originally Posted by clarkstoncracker View Post
There are no other profitable coins, they are all dieing. When you shut down your operation, you are just allowing ASIC systems to take the place of yours, rendering your operation even more obsolete.

What I'm saying, you're throwing $1200 into this for two months of work, where you MIGHT break even at current market price.

If you really believe LTC is going to go up, Why not just buy 35 LTC with that $1200? (vs the 21 LTC you will slowly mine over two months) Your math is not panning out in the least bit.
Yeah I get what you are saying. Why not just buy the LTC? Because we already bought the equipment!


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Old December 5th, 2013, 10:55 AM   #277
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Maybe he wants to be the Todd Hoffman of virtual Mining?
That is the 2nd funny thing you have ever posted on this site.

I now am forced to record gold rush so I can fast forward through that soap opera in south america.

I say they scrap gold rush and give Tony Beets his own show on drilling holes.


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Old December 5th, 2013, 10:56 AM   #278
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can't they just print more?
Bit-bills?
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Old December 5th, 2013, 11:04 AM   #279
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That is the 2nd funny thing you have ever posted on this site.

I now am forced to record gold rush so I can fast forward through that soap opera in south america.

I say they scrap gold rush and give Tony Beets his own show on drilling holes.


Tony Beets: Drill Holes ! - YouTube
Dr-rill pawker-rr Dr-rill dril fucking holes, then you know, is there gold? is there not? dig where you drill and find fucking gold, it's that fucking easy pawker-r. You know?
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Old December 6th, 2013, 01:25 PM   #280
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damn, this market crash is huge! I am soooooooooooooo happy to see it. We needed a correction.

$814 right now. those panic sellers make me lol.
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