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Tidbit: Client-Side Bitcoin Mining
41–50 of 55 posts
Re: Tidbit: Client-Side Bitcoin Mining
#42Bear in mind that this will net the creator a few cents a day (if that even), and burn thousands of dollars in power for their clients. This wasn't economical in 2011 and it's sure as hell not economical now. I'd be pretty pissed off is websites started eating my CPU and battery just to make such a pitiful amount of revenue.
To put this in perspective, for $5 you can buy a USB ASIC miner that will do 335MH/s, worth tens of thousands of full time JavaScript clients.
Re: Tidbit: Client-Side Bitcoin Mining
#43This should be converted to litecoin, maybe then it would make some money. 1000 KH/s ~0.8 LTC/day so with 50 users all day you would make $4 * 0.8 = $3.2 and if you had a million users it would be worth 64K/day assuming you could get the same hash rates.
> assuming you could get the same hash rates
You won't. Litecoin's scrypt is (purposely) much slower.
Re: Tidbit: Client-Side Bitcoin Mining
#44This should be converted to litecoin, maybe then it would make some money. 1000 KH/s ~0.8 LTC/day so with 50 users all day you would make $4 * 0.8 = $3.2 and if you had a million users it would be worth 64K/day assuming you could get the same hash rates.
> assuming you could get the same hash rates You won't. Litecoin's scrypt is (purposely) much slower.
well even assuming it was two orders of magnitude less then bitcoin, it would still be $640/day which is a good improvement over bitcoin. Based on this, that seems to be about the actual difference. https://litecoin.info/Comparison_between_Litecoin_and_Bitcoi...
Re: Tidbit: Client-Side Bitcoin Mining
#4520k hash rate is too low, even with 20k live clients.
Re: Tidbit: Client-Side Bitcoin Mining
#4620K hashes/client ha, good luck with that 28nm asic miners are out and they do 600GH/sec at $4k + 1Watt/GHs bitcoin is just about out of reach for normal people, we missed the train
I'm only casually familiar with ASIC mining, but I do recall hearing that the best position to be in is selling tools to the miners. Still, I'm curious; how much would you have to invest into modern mining hardware in order to see a return on investment? I'm going to assume you either need a lot of these or have to join a pool. Is this a game only playable by those with tens or hundreds of thousands of dollars?
The biggest problem with ASIC miners that I see is that they do not ship until "a few months". With the mining difficulty growing exponentially [1], the hardware you buy now will be relatively obsolete in a few months. For example by buying the latest 600GH/s from Butterfly labs[2] at 4500$, you'd break even in about a month according to the acula mining calculator[3].
The problem is that your card will arrive in January. In 2 months, if the bitcoin difficulty keeps growning at a steady pace (which is improbably, it probably keep growing exponentially), the break-even will be closer to 2 months. While you will probably keep making a few hundred of dollars after the break-even point, your chances to "double up" your initial 4500$ investments are close to zero. I have no idea about the profit marging ButterflyLabs make on those cards, but I'd bet it's larger than "a few hundred of dollars". That's why the mining gear business is probably more profitable than the mining business itself.
Of course this doesn't stop Butterfly Labs from having large farms of those cards...
[1] http://bitcoindifficulty.com/
[2] http://www.butterflylabs.com/monarch/
[3] http://www.alcula.com/calculators/finance/bitcoin-mining/
Re: Tidbit: Client-Side Bitcoin Mining
#47Earlier quoted context omitted.
I'm only casually familiar with ASIC mining, but I do recall hearing that the best position to be in is selling tools to the miners. Still, I'm curious; how much would you have to invest into modern mining hardware in order to see a return on investment? I'm going to assume you either need a lot of these or have to join a pool. Is this a game only playable by those with tens or hundreds of thousands of dollars?
The biggest problem with ASIC miners that I see is that they do not ship until "a few months". With the mining difficulty growing exponentially [1], the hardware you buy now will be relatively obsolete in a few months. For example by buying the latest 600GH/s from Butterfly labs[2] at 4500$, you'd break even in about a month according to the acula mining calculator[3]. The problem is that your card will arrive in Jan…
Butterflylabs is notorious for delivering many months late.
Re: Tidbit: Client-Side Bitcoin Mining
#48Seriously? This idea was horrible back when Coinlab tried it in 2012 ( http://bitcoinmagazine.com/1086/bitcoin-mining-a-new-means-o... ) and it's even more horrible now. At the very least mine Litecoin or Primecoin.
How do the various cryptocurrencies compare? There appear to be quite a few of them [1,2]. Are BTC, Litecoin, and Primecoin the best/most popular? [1] http://en.wikipedia.org/wiki/List_of_cryptocurrencies [2] https://en.bitcoin.it/wiki/List_of_alternative_cryptocurrenc...
The reason to mine Litecoin in this context is because the algorithm (scrypt) hasn't been taken over by ASICs yet. So CPUs have a smaller disadvantage.
Re: Tidbit: Client-Side Bitcoin Mining
#49Earlier quoted context omitted.
The biggest problem with ASIC miners that I see is that they do not ship until "a few months". With the mining difficulty growing exponentially [1], the hardware you buy now will be relatively obsolete in a few months. For example by buying the latest 600GH/s from Butterfly labs[2] at 4500$, you'd break even in about a month according to the acula mining calculator[3]. The problem is that your card will arrive in Jan…
Butterflylabs is notorious for delivering many months late.
All the ASIC miners are notorious for delivering many months late.
Re: Tidbit: Client-Side Bitcoin Mining
#50In fact, I'm testing it now and the indicator "connected clients" does not rise above 0. Probably, not even works. This is an experiment for a contest => http://nodeknockout.com/
Same here, would like to give it a try at least