I wonder if it's possible to pool computing resources and share the resulting bitcoins. Having to wait one year for a block (50 coins) is a real turn-off.
Consider using up 0.2kW continuously for a year (a typical mid-end PC at full load), with the local price of 13 cents per kW-hour, it works out to about $228 worth of electricity for 50 coins (note the computer itself would depreciate in this time). That means $4 per bitcoin minimum costs, far above the 20 cents at which it is trading now.
What are your costs where you live?
Calculate:
cost_per_coin = 0.2 * 8765 (hours in a year) * your_kWH_price / 50 or
cost_per_coin = 30.56 * your_kWH_price
Consider using up 0.2kW continuously for a year (a typical mid-end PC at full load), with the local price of 13 cents per kW-hour, it works out to about $228 worth of electricity for 50 coins (note the computer itself would depreciate in this time). That means $4 per bitcoin minimum costs, far above the 20 cents at which it is trading now.
What are your costs where you live? Calculate: