Hacker News Reader

Seems like using Amazon's EC2 to mine Bitcoins could now be profitable, anyone know if this is actually going on? Per this couple year old article (http://glennfrancismurray.com/cost-defective-mining-with-gpu...) looks like the break even point was around ~$30/BTC.

View on HN

The problem is you have to account for the difficulty, which has changed. It looks like he was predicting a block per 78 hours, while it is now closer to 2/3 of a year.

Looks like 1.64 GH/s = $10.66 a day roughly, compared to a cost of $400 a day.

That's about to be a total non-factor once all the ASICs online. http://launch.avalon-asics.com/ and http://www.butterflylabs.com/

The hash rates are order of magnitude faster than what's currently out there for the price, and most importantly they'll drive up the difficulty quite a bit.

Reply on news.ycombinator.com