[Cialug] Bitcoin mining

[nickdoud Doud]

I calculated 1.1 TH with the other defaults, 1100 W power and it said hardware paid in 60 days.
 
> Date: Wed, 10 Dec 2014 18:34:45 -0600
> From: matt at itwannabe.com
> To: cialug at cialug.org
> Subject: Re: [Cialug] Bitcoin mining
> 
> BTW, after poking in all the numbers for that profitability calculator, 
> it came up with 153days (assuming the $0.15/kWh is correct for this area?).
> 
> Unfortunately, the world of bitcoin doesn't stay unchanged for more than 
> a week, let alone 153 days, so my guess is that you might catch up on 
> profit fairly quickly for a short while, but eventually you would 
> realize that the function of profit in this sense is more logarithmic 
> than linear.
> 
> -- Matt (N0BOX)
> 
> On 12/10/2014 06:25 PM, Matt Stanton wrote:
> > That thing would have made you a lot of money...
> >
> > ... back when bitcoin mining ASIC first hit the market.
> >
> > Now that this mining rig has been on the market long enough to be put 
> > in a Shell Shocker deal, there have been enough of them and other ASIC 
> > miners to raise the bitcoin mining difficulty to such a level that you 
> > can no longer pay one of these (and the electricity you pump through 
> > it) off with the bitcoins you mine.
> >
> > -- Matt (N0BOX)
> >
> > On 12/10/2014 06:17 PM, nickdoud Doud wrote:
> >> With New Egg 1 PM Shell Shocker today:
> >> http://www.newegg.com/Special/ShellShocker.aspx?cm_sp=Homepage_SS-_-P3_9SIA68020W5714-_-12102014 
> >>
> >> http://www.bitcrane.com/goods.php?id=1
> >> BITCOIN MINER T-110 for $600 I did some looking at the data
> >>   http://www.bitcoinx.com/profit/
> >>   I see this Linux based box can make some money $$$ thought I would 
> >> ask the group if anyone has any additional comments on this quick 
> >> money making hardware.
> >>   Nick
> >>
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