Bitcoin cost mining
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Source: cointerra.com
Power usage/cost and mining
I found this quote earlier and though i would share. it seems that there is a point where the cost of bitcoin mining outweighs the benefit.
"I've done some testing. I tried to create conditions for success.
1. I had handy an M18 R2 - with dual 7970s.
2. I work a lot of hours and my kit is used by my employer. In trade off I use some juice for testing.
3. CPU bitcoining is worthless - just forget about it totally. Anyone telling you that only high power GPUs, FPGAs or ASICs offer a return are correct, and thats before ever discussing power.
4. I am vaguly able to generate 0
Fool's errand
By now it's too late. One video card won't find a new block in <270 days and at that rate the cost of electricity is more than the value of the block.
This ship has sailed.
You could join one of the many co-operative mining ventures and get minuscule paybacks that way, but the costs remain the same.
The Bitcoin forums have extensive discussions on appropriate cards and many of the dedicated miners use purpose-built multi-GPU rigs.
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