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jdog2050
Joined: 17 Dec 2006
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 Posted: Sun May 19, 2013 5:13 pm Post subject: Anyone mining bitcoins in Korea? |
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I was just wondering if anyone here had a mining rig?
I'm thinking about buying a butterfly labs micro-rig, just because they're only ~$250 and bitcoins are trading at about 130,000W right now. If I can just mine one or two per week it should pretty much pay for itself and be a fun experiment.
My main concern is electricity cost/bitcoin mined. Electricity in Korea I find is actually really cheap. If I get a 50w bitcoin rig, what effect will it have on my electricity costs? |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Sun May 19, 2013 6:24 pm Post subject: |
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50w per hour.
24 hours per day.
1.2 kwh/day times 30 days per month = ~36kwh/month.
What is your rate 150w-200w /kwh (varies depending on consumption).
200 won times 36kwh would be about 7k won per month in added electricity costs.
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Gnawbert
Joined: 23 Oct 2007
Location: The Internet
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| Posted: Sun May 19, 2013 6:31 pm Post subject: Re: Anyone mining bitcoins in Korea? |
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| jdog2050 wrote: |
I was just wondering if anyone here had a mining rig?
I'm thinking about buying a butterfly labs micro-rig, just because they're only ~$250 and bitcoins are trading at about 130,000W right now. If I can just mine one or two per week it should pretty much pay for itself and be a fun experiment.
My main concern is electricity cost/bitcoin mined. Electricity in Korea I find is actually really cheap. If I get a 50w bitcoin rig, what effect will it have on my electricity costs? |
I know little to nothing about mining bit coins, but is 1 or 2 per week a little, average, or a lot? |
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jdog2050
Joined: 17 Dec 2006
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| Posted: Sun May 19, 2013 6:53 pm Post subject: Re: Anyone mining bitcoins in Korea? |
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| Gnawbert wrote: |
| jdog2050 wrote: |
I was just wondering if anyone here had a mining rig?
I'm thinking about buying a butterfly labs micro-rig, just because they're only ~$250 and bitcoins are trading at about 130,000W right now. If I can just mine one or two per week it should pretty much pay for itself and be a fun experiment.
My main concern is electricity cost/bitcoin mined. Electricity in Korea I find is actually really cheap. If I get a 50w bitcoin rig, what effect will it have on my electricity costs? |
I know little to nothing about mining bit coins, but is 1 or 2 per week a little, average, or a lot? |
It's hard to say right now; mining bit coins is meant to essentially mimic mining gold. There's only so much and the more of them that are "mined" the difficulty keeps increasing. From what I've been researching, a couple of coins per week seems to be the going rate from a 50W dedicated rig.\
Ah, this site does the math for you!
http://www.bitcoinx.com/profit/ |
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Ginormousaurus
Joined: 27 Jul 2006
Location: 700 Ft. Pulpit
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| Posted: Tue Jun 25, 2013 8:39 am Post subject: |
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| Did you end up buying that rig? And if so, has it been worth it yet? |
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Swampfox10mm
Joined: 24 Mar 2011
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