Cost efficiency of mining: what are your assumptions as investors-in-hardware?

spraffspraff Member Posts: 15
So, I just did a quick reality-check to see how feasible mining would be.

If you have a 1GH/s machine, then when the network is running at 50GH/s you control 2% of the network. If block time is 10s then you will get about 170 (out of 8640) per day. With a block reward of 5 Eth and ignoring gas (and other complexities such as uncles), that's on the order of 1,000 ETH per day. At the pre-sale rate, that's 0.5BTC.

Obviously this is a very rough calculation.

I would like to ask those of you who are actually building dedicated mining rigs -- what other factors do you include into your calculations to decide how much to invest?

Comments

  • timstims Member Posts: 21
    1GH/s == 40 R9 290x GPUs. That's a pretty big machine. If the ether price would 'stick' at the pre-sale rate then you should not start mining with the intention of making money. The actual/eventual ether rate is impossible to guess right now.

    When transactions will be allowed, things will become a bit clearer because ether rates will be formed on the exchanges.
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