Re:Ask HN: Have you made a profit mining Bitcoin?
by kristianp on Monday September 30, 2013 @06:33PM
(#6472814)
I'm a little confused by this pair of sentences, what are "the bitcoins I spend"?
"Fortunately, the $1800 I spend on the hardware has paid me back over 10x in dollar amount. It will take me about another 6-9 months to break even on the bitcoins I spend due to the massive rise in value since I made the pre-order."
Re:Ask HN: Have you made a profit mining Bitcoin?
by continuations on Sunday September 29, 2013 @09:39PM
(#6467352)
> I do not have power costs.
How do you get your power?
Re:Ask HN: Have you made a profit mining Bitcoin?
by kevinrpope on Monday September 30, 2013 @12:26PM
(#6470455)
I've had leases with landlords where the rent includes all utilities. This amount of electricity is probably not what the landlord had in mind when writing up the lease, but could explain the lack of power costs.
I bought in to the BFL pre-order during the first few days of the announcement. It took me 12 months to receive the hardware. During that time, Avalon beat BFL to market and destroyed my expected difficulty. Fortunately, the $1800 I spend on the hardware has paid me back over 10x in dollar amount. It will take me about another 6-9 months to break even on the bitcoins I spend due to the massive rise in value since I made the pre-order. Fortunately, I bought a good number of bitcoins at the same time so I've made out on both investments.
I have purchase a BFL Monarch during the first few days of the announcement, but I do not expect to make the money back in any reasonable amount of time due to the flood of new ASICs and coming changes in difficulty. Fortunately, I do not have power costs.