AMD destroys Nvidia at Bitcoin mining, can the gap ever be bridged?

[hokies83]

I make more then 95 $ in 5 days mining 15 hrs a day on 3 7950s lols.

 

[BeauCharles]

I think NV is focusing in other areas. Cancer research, resource exploration, aerospace, etc. Crunching bitcoins prolly not high on da list.

First thing that came to my mind.

 

[AnandThenMan]

I can't believe people are down on mining, if you don't like it or think it's stupid, then good for you. Why do you care what other people do with their hardware? I can't ever recall in the past where you could buy a nice gaming card, and make money with it when you're not gaming.

To me that's about as win-win as you can get from a piece of hardware, I game for less than free, I make money. I don't think I will ever get used to that, it's just simply awesome. Sure it's not bucket loads of cash (I only have 2 cards) but it's spending money on the side for doing basically nothing.

 

[insertcarehere]

As long as your mining benefits are greater than your total costs (including opportunity costs) i.e, electrcity, cost of heating house, noise...etc, then there is, by definition,a net benefit to be had by bitcoin/litecoin/??coin mining. For me in Australia, as winter is approaching, the 7870xt I have mining helps keep my room just a little warmer, so it's a nice benefit for me that it makes a little money on the side as well.

 

[Cloudfire777]

I make more then 95 $ in 5 days mining 15 hrs a day on 3 7950s lols.

What a bunch of bull.

You make $202 running those 3x7950 24 hours a day in a whole month. A week ago you would have made $110 with those 3 GPUs.

 

[hokies83]

What a bunch of bull.

You make $202 running those 3x7950 24 hours a day in a whole month. A week ago you would have made $110 with those 3 GPUs.

You have no idea what your talking about.. i know i sell 1/10th a bit coin everyday for 18$ + now add..

Why you gotta fill the thread with crap when u have no clue what i make?

And last week i made over 900$ selling what i had saved up .... lol mmm http://www.ebay.com/itm/190822765375?ssPageName=STRK:MESOX:IT&_trksid=p3984.m1561.l2649

All in the meantime i do this

Meanwhile ...

 

[BallaTheFeared]

You look insanely board because you can't use your PC. :thumbsup:

 

[hokies83]

You look insanely board because you can't use your PC. :thumbsup:

Im using it right now.

You can do everything besides game while mining as it only uses gpu power.

I only game afew hrs a day.. thats why i said 15 hrs a day.

But i do also have 2 other systems lol.

Think of bitcoin mining like folding.. but making money...

People fold but it is only at a loss as it uses power but returns no $$.. yes it helps cancer research.. but does not help the wallet.

 

[Elfear]

So thats why this article is USELESS. AMD do beat Nvidia GPUs with mining, but to call it "destroying" is BS at best, because what would you call 60GHz ASIC vs 1.8GHz 7970s that use the same power?

Good point and then when you want to game you can fire up the ASIC and... oh wait, an ASIC is only good for one thing whereas I can game on my Radeon and still make a decent profit each month.

Of course an ASIC destroys GPUs at mining but that's it's sole purpose and is good for nothing else. That's the point of the article, you can mine while your GPU is idle. Currently it's only worthwhile if you have AMD cards (or possibly a Titan). Even if GPU mining becomes unprofitable you can always sell your excess hardware and you wouldn't be out much if anything.

 

[BallaTheFeared]

The power used for folding is a tax write off.

I was actually able to play some games while mining, but the payout just wasn't worth it for me. I have nothing against bitcoin mining, no moral dilemma as others seem to.

I just don't think it's worth the strain on my hardware, which I use for 100% entertainment value. I don't want to come off as above it, but I just don't have a need for the income it would generate. I can understand why some would need it to supplement theirs however.

To each their own, just don't call it a hobby after saying it doesn't take any interaction outside of reboots and cleanings. :\

 

[MrK6]

Good point and then when you want to game you can fire up the ASIC and... oh wait, an ASIC is only good for one thing whereas I can game on my Radeon and still make a decent profit each month.

Of course an ASIC destroys GPUs at mining but that's it's sole purpose and is good for nothing else. That's the point of the article, you can mine while your GPU is idle. Currently it's only worthwhile if you have AMD cards (or possibly a Titan). Even if GPU mining becomes unprofitable you can always sell your excess hardware and you wouldn't be out much if anything.

Correct on all points.

I'm enjoying seeing the nvidia fanboys struggle in their ignorance and come up with failing argument after failing argument. I'm pretty impartial when it comes to hardware, but mining has made AMD so preferential in the last couple of years, there's no reasonable argument against it. I guess that stings to those who are so emotionally invested in computer hardware, pity.

 

[BallaTheFeared]

I think the point has been made, buying either companies graphics cards for the sole purpose of pumping them up over the competition when it comes to bitcoins is the worst way to go about bitcoins.

As such anyone who was interested in bitcoins in the first place, would have been better off investing in them directly instead of attempting to slowly acquire them through mining. The payoff for doing this would have been far greater than buying hardware to do it. When the word greater is used, it's actually not even the right word, buying AMD hardware to mine instead of buying the bitcoins with said money and using it to keep reinvesting is such a poor conversation difference that mining shouldn't even have been considered an option.

People who actually try to pump companies in this manner are not actually impartial (as if their purchase and post history wasn't demonstration enough of this fact) as they claim, they're simply trying to piggyback their favorite company onto a market that doesn't need or want said company and will quickly phase it out.

 

[wand3r3r]

If you consider the current market where the 7950 with free games is already the better buy above $200, why not? If you know you can likely pay off said card or at least make a few $ bitmining on the side => icing on the cake.

Why is this so hard to accept?

You (guys) keep trying to turn this into something it isn't. Nobody recommends going to buy 25- 7970's to "get rich".

As for the post history, that goes both ways (look who's vehemently trying to smear bitmining). There are impartial buyers / users but which card it pays to buy varies over time.

 

[MrK6]

Discussing hardware purchasing in hindsight just shows how ignorant the parties attempting to do so are. Let me guess, you all invested heavily in Google stock because you're such perennial soothsayers? Again, you're using the argument of buying bitcoins at an all-time low and selling at their all-time high to somehow detract from mining, but how come none of you are considering mining when difficulty was at an an all-time low and selling the profits at an all time high? The truth is, you'd make much more money that way, but of course you won't mention it because it defeats (another) inane argument. Many of us did this and now have cashed out with tens of thousands of dollars.

Even for those without farming or working the exchanges could easily pay off their hardware, and have done so.

I'm enjoying seeing the desperate attempts of moving goal posts when the numbers consistently show how great a venture mining is, but please, this is entertaining, keep it up. :thumbsup:

 

[BallaTheFeared]

Why would you buy a $20 steak when you can get a double cheeseburger for a $1?

To each their own.

I don't see anyone running into the bitcoin thread and bashing people for doing it and if they did they should be infracted.

I think people have accepted that others will bitcoin, the problem seems to be that people who do bitcoin can't grasp why nobody else is or what they have against it.

Then come the claims of bias, oh you don't bitcoin because you don't like AMD, yada yada... Nothing good comes from it, people have their own reasons not to get involved in pyramid schemes be it moral or otherwise.

Personally for me my 7950 is a toy for enjoyment, and it's not a $300 purchase it's a $2000 purchase because it's part of an entire system that is built around gaming. Running it hard for pennies on the hour works against my purpose for owning it, as degradation will take away from my enjoyment of the card itself.

I'm not buying bitcoins because I don't need to invest in a risky market, I have no income myself but am in need of none either. The numbers being thrown around are enough to impress a high school kid who makes minimum wage and nothing else.

You don't hear people buying $6000 in fly fishing gear talk about the value of selling the fish they catch to offset their entertainment costs.

It's just a different mindset, those who need and those who don't. Nothing wrong with either, but this isn't the bitcoin thread and bitcoins aren't insanely popular so don't expect a majority to see eye to eye with you.


Remember the ol bill gates "how much money would need to be on the ground in order for it to be worth his time to stop and pick it up"?

That's basically what this is.

 

[Cloudfire777]

You have no idea what your talking about.. i know i sell 1/10th a bit coin everyday for 18$ + now add..

Why you gotta fill the thread with crap when u have no clue what i make?

And last week i made over 900$ selling what i had saved up .... lol mmm http://www.ebay.com/itm/190822765375?ssPageName=STRK:MESOX:IT&_trksid=p3984.m1561.l2649

All in the meantime i do this

And the lies continue. You are really full of yourself.

First of all, that was 0.1 Bitcoin sold. Not 100s of them. In a month you mine 1.7 Bitcoins with 3x7950. Second of all, most of the 0.1 Bitcoins goes for $15 at Ebay. That nets you $255 for a whole month. Deduct $50 for the electricity and you are STILL in the profit of around $200. With 3 GPUs.

So stop spreading lies.

Good point and then when you want to game you can fire up the ASIC and... oh wait, an ASIC is only good for one thing whereas I can game on my Radeon and still make a decent profit each month.

Of course an ASIC destroys GPUs at mining but that's it's sole purpose and is good for nothing else. That's the point of the article, you can mine while your GPU is idle. Currently it's only worthwhile if you have AMD cards (or possibly a Titan). Even if GPU mining becomes unprofitable you can always sell your excess hardware and you wouldn't be out much if anything.

Oh wait, if you game with GPUs you reduce your profit. Say you play with your computer 4 hours a day, that removes 120 hours from the mining. Which is 5 days. That means you net $180 per month on mining. Then the electricity have to be paid of $40 maybe. $140 per month in profit. So with the difficulty you have to mine around a year to even break even. LOL how pathetic.

Anyone who is in Bitcoins to make money owns or have pre ordered a FPGA/ASIC. The rest is just wasting their time with these inefficient GPUs. Noisy and hot computer on all the time to even break even.

 

[Rvenger]

And the lies continue. You are really full of yourself.

First of all, that was 0.1 Bitcoin sold. Not 100s of them. In a month you mine 1.7 Bitcoins with 3x7950. Second of all, most of the 0.1 Bitcoins goes for $15 at Ebay. That nets you $255 for a whole month. Deduct $50 for the electricity and you are STILL in the profit of around $200. With 3 GPUs.

So stop spreading lies.



Oh wait, if you game with GPUs you reduce your profit. Say you play with your computer 4 hours a day, that removes 120 hours from the mining. Which is 5 days. That means you net $180 per month on mining. It will take you 6 months before breaking even with the GPUs. Not counting in the difficulty. So lets say 8 months before breaking even. Wow, you`re rich. Not.

Anyone who is in Bitcoins to make money owns or have pre ordered a FPGA/ASIC. The rest is just wasting their time with these inefficient GPUs.

You don't bitcoin, you don't own an AMD graphics card obviously and from the sounds of it you never will. So how do you know he is lying? Your estimated facts? lol

Your basically calling everyone a liar now.

 

[Cloudfire777]

You don't bitcoin, you don't own an AMD graphics card obviously and from the sounds of it you never will. So how do you know he is lying? Your estimated facts? lol

Your basically calling everyone a liar now.

Because I use calculators. They don`t follow sheep mentality and post their subjective lies to spread around the BS on how wonderful the GPU mining is.

http://www.bitcoinx.com/profit/

And go read about Bitcoins before coming in here. Basically everyone knows that GPU mining is dead and everyone who buys a AMD GPU just to mine is clueless. Go visit Reddit. Or even look at the history. There is an unanimous voice that ASIC/FPGA is the future. Batch #2 from Avalon was just shipped. Batch #3 was outsold the minute it was out. 65Gh/s @ 800W compared to 1.3Gh/s @ 600W from the 3x7950s.

Its not even fair. It started with CPU mining, then the GPU miners took over, now the ASICs is the king. For those who want to mine with GPUs you are almost 1 year late.

 

[chimaxi83]

Cloudfire, how much of an angry poster would you be if Nvidia cards were the better cards for mining? I won't hold my breath for the obvious answer.

 

[Cloudfire777]

Cloudfire, how much of an angry poster would you be if Nvidia cards were the better cards for mining? I won't hold my breath for the obvious answer.

I don`t understand why my preference for Nvidia cards is questioned. Go read Bitcoin from Reddit or any other forum. They say the same as I do.

I would have 100% said the same about Nvidia GPUs if it was the other way around. Or cheer on AMD GPU mining 1 year prior to now. In fact I`m sad I researched Bitcoins this late or I would have bought 7970s a looong time ago.

Bah I`m out. I feel like repeating myself over and over again. Mine your hearts out for all I care. But my advice is to get a hold on an ASIC miner ASAP, mine mine mine, make big bucks, and use some of those money on a dedicated gaming rig while your ASIC is mining 24/7. But good luck finding one. There is thousands of people in line. You could build a FPGA and program it yourself though if you have the skills. Boards are available everywhere

Cloudfire out.

 

[AnandThenMan]

I don`t understand why my preference for Nvidia cards is questioned. Go read Bitcoin from Reddit or any other forum. They say the same as I do.

I don't care what any of these sources say. I continue to make money mining, sorry that makes you so butthurt. I'm making money right now.

 

[BallaTheFeared]

I don't care what any of these sources say. I continue to make money mining, sorry that makes you so butthurt. I'm making money right now.

Nice :thumbsup:

 

[hokies83]

And the lies continue. You are really full of yourself.

First of all, that was 0.1 Bitcoin sold. Not 100s of them. In a month you mine 1.7 Bitcoins with 3x7950. Second of all, most of the 0.1 Bitcoins goes for $15 at Ebay. That nets you $255 for a whole month. Deduct $50 for the electricity and you are STILL in the profit of around $200. With 3 GPUs.

So stop spreading lies.



Oh wait, if you game with GPUs you reduce your profit. Say you play with your computer 4 hours a day, that removes 120 hours from the mining. Which is 5 days. That means you net $180 per month on mining. Then the electricity have to be paid of $40 maybe. $140 per month in profit. So with the difficulty you have to mine around a year to even break even. LOL how pathetic.

Anyone who is in Bitcoins to make money owns or have pre ordered a FPGA/ASIC. The rest is just wasting their time with these inefficient GPUs. Noisy and hot computer on all the time to even break even.

Dude your so full of crap u have no IDEA what your talking about.

quit trolling this thread ..

http://www.ebay.com/itm/190827527928?ssPageName=STRK:MESOX:IT&_trksid=p3984.m1561.l2649

I very easy clear over 400$ a month.. Try again.

LoL @ 1.3 GH.... try 1.9 GH...

Smart miners hold there coins when the value is down and sell them when it is high

 

[BallaTheFeared]

I'm slightly confused, you keep linking to your ebay but I only see 4 bitcoin transitions for less than $120 total before ebay fees.

What am I not seeing?

 

[hokies83]

I'm slightly confused, you keep linking to your ebay but I only see 4 bitcoin transitions for less than $120 total before ebay fees.

What am I not seeing?

There is 7 1/10th

I did not sell the whole coins there... to much risk to sell a whole coin on Ebay..


I only sell 1/10ths on ebay so if the buyer try's to screw me im not out of much.

Value is on the rise " Again " as well

Last Trade 129.8
Best Bid 130.01
Best Ask 130.39999

Point being some 2nd party person looking and grafs who has no idea what your running and what your getting cannot tell you what your making..

He is a Mile off.