Part Two of How Much can You make Mining ETH Now with Byzantium, modeling future predicted earnings and a Formula to answer your 'To Buy Coin or To Mine' Question

It's about 150 days into the mining operation now, so about time for an update and after posting this article last time 75 days in, titled: How Much can You Make Mining Ether and How much does it Cost to Run? A number of readers raised several very good points that should be mentioned and are interesting relative to mining in general, so worth while to explore.

The mining rig setup is 2 x Nvidia 1070 GTX in a pre-existing computer, overclocked and running about 57-60MH/s, Some quick figures on the mining rig's results so far, 150 days in:
1.9540081437795 ETH has been paid out in total.The rig has consumed 1357 KWh of electricity for a total cost of approx $117 CAD + Tax.The present Net Profit if we were to liquidate all mined ETH at today's price of $400 CAD would be $660 after electricity costs, which is about the same price of one of the 1070's, at this point one card is paid for at this price of ETH.
Let's begin with Byzantium, the Ethereum Network update, someth…

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