BitCoin Future Prices

Discussion in 'Digital Currencies' started by SilverSale, Nov 6, 2013.

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  1. col0016

    col0016 Active Member

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    This is so frustrating... I'm all set up to buy in... but I don't want to buy in at record high prices D:
     
    col0016, Nov 7, 2013
    #21
  2. SilverSale

    SilverSale Well-Known Member Silver Stacker

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    Consider LiteCoin?

    They aren't making new highs yet, but that chart is also starting to look parabolic. I grabbed a few today.
     
    SilverSale, Nov 7, 2013
    #22
  3. col0016

    col0016 Active Member

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    I'm not too sure about litecoin... does anybody know if the Chinese are buying into that as well? Or mainly just btc?
     
    col0016, Nov 7, 2013
    #23
  4. SilverSale

    SilverSale Well-Known Member Silver Stacker

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    I've got 4x as many BTC as LTC. (dollar value that is)

    Chinese will be buying the same as us - whatever looks good.

    Certainly BTC is easier to buy at the moment!
     
    SilverSale, Nov 7, 2013
    #24
  5. SilverSale

    SilverSale Well-Known Member Silver Stacker

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    Digital Currency - Absolutely Rocketing!!!

    For anyone looking for Bid/Ask Bitcoin spread; this looks reasonable: http://bitcoin.clarkmoody.com/
     
    SilverSale, Nov 7, 2013
    #25
  6. silverzman

    silverzman Active Member Silver Stacker

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    Whats the easiest place to get some LiteCoin?
     
    silverzman, Nov 7, 2013
    #26
  7. silverzman

    silverzman Active Member Silver Stacker

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    Might do that. Is it still economical to mine litecoin?
     
    silverzman, Nov 7, 2013
    #27
  8. RetardedMonkey

    RetardedMonkey Active Member Silver Stacker

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    If you already have the equipment, you'll probably get around $2/day in profit after electricity costs.

    Without the hardware already, I suspect the depreciation on computer parts (which is usually massive) will far outweigh any profits you gain from the coins.

    http://dustcoin.com/

    That's the site I used to calculate.
    With my 4 card rig that could do about 2300kH/s, using about 1175W at the wall socket (I had a meter on it) and a cost of around $0.25/kWh, I'd be generating 2 coins per day, with an overall profit of $1.96 per day, if I was still currently mining.

    When you consider that the rig would cost about $1500~ to put together, you realise it's just not worth it anymore with retail/consumer grade hardware.
     
    RetardedMonkey, Nov 7, 2013
    #28
  9. rbaggio

    rbaggio Active Member Silver Stacker

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    At current difficulty, I mine around 5 LTC every 7 days.

    PC inc. GPU cost me $520. Power is free, due to solar credits.

    After about 6 months of mining, I have:
    * 2 BTC
    * 152 LTC

    EDIT: So I am ahead of where I would have been, had I just taken that $520 and bought BTC and LTC 6 months ago. Plus I have a PC.
     
    rbaggio, Nov 8, 2013
    #29
  10. SilverSale

    SilverSale Well-Known Member Silver Stacker

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    Remember to take into account your lost time & effort in getting the operation up and running. :)
     
    SilverSale, Nov 8, 2013
    #30
  11. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    is it a 'real' PC or a dedicated BTC LTC miner?
    [​IMG]
     
    Clawhammer, Nov 8, 2013
    #31
  12. rbaggio

    rbaggio Active Member Silver Stacker

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    I consider that 2 hours an investment.
     
    rbaggio, Nov 8, 2013
    #32
  13. SilverSale

    SilverSale Well-Known Member Silver Stacker

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    Takings bids...

    US$350 for today.

    Any higher offers?
     
    SilverSale, Nov 8, 2013
    #33
  14. rbaggio

    rbaggio Active Member Silver Stacker

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    Almost a dedicated miner (it is 24x7), but does run some web pages off it to. But my point in mentioning it is there is still an asset there I wouldn't have had if I'd just purchased BTC/LTC.
     
    rbaggio, Nov 8, 2013
    #34
  15. volrathy

    volrathy Active Member

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    6 months ago they where $120 each

    so you could have bought 4.3 bitcoins they are worth $330 today = $1430

    your 2 BTC and 152 LTC are worth $660 + 638.4 = $1298.4

    so you are worse off by $131.60 you have used solar credits you didnt need to and your video card is now only worth $200

    All up i estimate you have worse off by $500 ish because you mined instead of bought
     
    volrathy, Nov 8, 2013
    #35
  16. rbaggio

    rbaggio Active Member Silver Stacker

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    assuming your maths is correct

    And assuming I had only wanted to buy BTC (as per your example)

    I could have had $1430 in BTC today
    or I am stuck with my 2 + 152 = $1298.40. BUT I still have PC + video card. Worth a bit more than $132 I think.

    Plus I gained experience in mining.

    Plus it keeps me off the streets.

    bah humbug
     
    rbaggio, Nov 8, 2013
    #36
  17. rbaggio

    rbaggio Active Member Silver Stacker

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    willrocks you have lost me :)

    Also I think I have taken this thread way off track
     
    rbaggio, Nov 8, 2013
    #37
  18. volrathy

    volrathy Active Member

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    Your solar credits have monetary value you HAVE to include them in your calculations and deprecation on your computer gear as well has to be included.

    If you arent going to include solar credits in your calculation then you have to include the cost of the solar installation which would be well into the thousands to generate enough power to power a BTC mining rig
     
    volrathy, Nov 8, 2013
    #38
  19. SilverSale

    SilverSale Well-Known Member Silver Stacker

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    Please excuse my absence while I fly to Russia so that I can buy a subway sandwich for dinner with 0.03 bitcoins.
     
    SilverSale, Nov 8, 2013
    #39
  20. bunyip

    bunyip New Member

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    bunyip, Nov 9, 2013
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