[Cialug] Bitcoin mining

[Don Cady]

http://www.midamericanenergy.com/rates1.aspx
Basic is .10575/kWh in summer and .08044/kWh in winter (...but there are
half a dozen other options that could change that)

On Wed, Dec 10, 2014 at 6:34 PM, Matt Stanton <matt at itwannabe.com> wrote:
>
> 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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