Tuesday, January 7, 2014

Am I too late for BTC mining??

Since I started this I was wondering If I am really to late for mining BTC, then I started to look for actual facts, I trust Math and my numbers tells me that is no longer an option to mine BTC, to be able to even come even to the actual energy cost if I order my ASIC today and will be delivered on April (that I you select the one that has 2 TH/s at 5999 that will give you best performance for your bucks) , do not get me wrong for those that currently have them they will continue doing good up to that point (best performance is up to month 4 if I start today after that returns are not that impressive)


here is what those that already have that kind of power will mine


From that point even if you mine 8 month you will only pull $18257.72 at current USD rate, even if the rate increase in value the returns are not what you expect, remember that is not the full value we need to apply the reduction
Now for those like me that plan to order in the coming days then the result is quite different and very disappointed.


Now we are assuming a daily risk that is very high lets be more conservatives and think that the increase will not be that drastic due to a lot of hashing power from the ones that do not have a TH star to quit, so let say a 25% increase in 11 days average, even with that change I will still miss about $2651.49; the only way that I am going to be able to see my return in 12 months would be the following

If by the time I have my miner the BTC rate in USD is $1891, that will make that in 12 months(if exchange rate maintain the same) I recover the cost of the equipment or , if by some kind of magic instead of having 2TH I apply an update and I can mine 3.6 TH , I will recover the amount in the same 12 month period.
So either you probably bet like casino style and pray that prize will be that amount to not have a loss, also that your equipment arrive on time,  or that there is a patch update that makes you have more power.

On the other hand for those that currently have those equipment they will probably need to buy with what they have earned enough power to have 14 TH, by that period if they want to continue having profits
But not all hope is lost at least not yet, if we bet for something lets assume that most of the top 5 Crypto currencies will increase in value as well with BTC, then if you already have the powerful hardware then will make send to star mining another HASH256 coin like PPCOIN for example, even Assuming difficulty goes x3 and by the time the miner arrives if you bought it today you will mine a lot more coins, an will got your money back in 3 months and with more coins, so if the prize goes to the sky you will have a little more, and also you have the extra that once you stop producing a lot of coins from mining there is the Proof – of – Stake and if you already have a lot the you will be also gaining a %.

Here is a little calculation difficulty is not adjusting so you can apply a  10% daily reduction to calculate a long term profit


Daily gain is 1.1355 of PPC.

So depending on what you have now or are planning to have on the future like me then is still possible to make some profit from these currencies, at least until no apocalipse happens.

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