Will Bitcoin / Crypto-currencies play a larger role in online gambling?

**universal4** · 26 June 2013, 1:15 pm

Yes, I recently looked into this.

I found that I could put up a dual quad core server, (that's 8 cores 16 threads total) and average mining would be around $30 or so a month. That would barely cover the power needed to run one of the power supplies for the month, and I could not find anyone to tell me how much bandwith it would consume.

The video card method of mining is slowing down considerably and the higher end cards are pricy, plus they produce a LOT of heat while mining, and for proper mining that is all the machine should be doing.

The entry level ASIC systems for mining start at well over $1000 and it is very difficult to reach a point where there is much if any ROI.

Rick
Universal4

**elgoog** · 26 June 2013, 1:29 pm

you can order asic's from $274 and up

bandwith is a non issue

**universal4** · 26 June 2013, 2:56 pm

Happen to know how much bandwith is used per month on either a server or ASIC running 24/7?

You might be correct elgoog, but from what I read the lower end units would not produce much...

Rick
Universal4

**elgoog** · 26 June 2013, 3:07 pm

No, i don't know how much bandwith exactly, but i checked it (somethines i do some research :P) and got only confirmations that it is nnt an issue,
People do worry about the power costs though, and the cooling (and noise) of the gear

re; lower end units production:
it does not make a difference really, because the units are kinda priced $ per Ghash
so...you pay like 274$ for a 5 Ghash unit and 2500$ for a 50 Ghash unit, which make them both even profitable

you might find this calculator interesting https://www.bitcoinx.com/profit/

edit: i dont know if this is the right moment to start mining or order units, i would not advice anyone to do so, because one of the less predictable and most important factors in the profibility is the so called "difficulty" wich will rase very much in the next months, because a lot of asics will be shipped.

**universal4** · 26 June 2013, 3:13 pm

Sorry, but being told bandwith isn't an issue and no one can tell me how much is being used....is like buying a car that is supposed to be good on gas mileage and no one will tell you how many MPG it gets.....

Yes that is a good chart, and I have used some of them, that's how I figured out that a Dell Poweredge dual quad core box would only produce somewhere around $30 monthly.

Rick
Universal4

**elgoog** · 26 June 2013, 3:37 pm

re bandwith: (to compare your question, gas=power=watts bandwith=like water if your cooling is leaking?

https://bitcoin.stackexchange.com/que...f-a-mining-rig
https://forums.butterflylabs.com/min...n-preform.html
https://forums.butterflylabs.com/jal...-machines.html
https://bitcointalk.org/?topic=131035

**universal4** · 27 June 2013, 1:45 pm

Thanks, I did research this some time ago but had never stumbled on to that first link as it answers most of my questions.

Rick
Universal4

**Imperator** · 27 June 2013, 2:09 pm

I know someone that has an asic miner, he bought it for about 1k. He tells me whatever he spends on electricity, he gets it back x3 at the current price ($100-110). He spends about $300, and gets about $1k in bitcoins a month. He participates in a mining pool where his machine is a unit of a large mining network. So right now it is somewhat profitable to mine, but as the difficulty rises, and if price stays the same or drops, it will be less and less profitable (unless the price keeps going higher of course).

**lowrisk** · 27 June 2013, 4:51 pm

Cheers for the update Rick, I heard it from a friend..... so I'll kick hiss ass next time I see him.

Originally Posted by universal4

BitCoins are RARELY mined by cpu's anymore.(although this used to be popular) After CPU's it moved to GPU's (video cards) and that still happens, but bitcoin mining is moving mostly to ASIC's (systems built specifically for mining).

Rick
Universal4