Cryptocoin Mining?

[chimaxi83]

Your ballpark seems about right at 550mh, but a 7970 should to 600-650mh, depending on overclock. A 7950 at similar core speeds will do 500-550mh.

Per the profit calculator as of right now, the breakeven on a single 7970 should be 77-85 days at (600-650mh assuming 1000-1100mhz clock, cost of $270, BTC at $91, $0.15 per KWh, 200w system power, YMMV). The cost is even less and the breakeven is shorter if you can sell the included game codes.

You're right, I just used 550 mhash because I mine at 1000 MHz undervolted to 0.95V. I can push it and hit about 775 mhash but the power usage and heat are nasty.

 

[Chiropteran]

Dropped to around $77. Just trying to decide when to buy back in now . . .

I missed the dip. I put in a buy order for $74 but it never dropped low enough.

edit: buy order, duh.

 

[Zargon]

You're right, I just used 550 mhash because I mine at 1000 MHz undervolted to 0.95V. I can push it and hit about 775 mhash but the power usage and heat are nasty.

damn at 1010 I do 490ish on my 7950

 

[Subyman]

My 7970 does around 650 mhash @~1000mhz using cgminer.

 

[x3sphere]

Your ballpark seems about right at 550mh, but a 7970 should to 600-650mh, depending on overclock. A 7950 at similar core speeds will do 500-550mh.

Per the profit calculator as of right now, the breakeven on a single 7970 should be 77-85 days at (600-650mh assuming 1000-1100mhz clock, cost of $270, BTC at $91, $0.15 per KWh, 200w system power, YMMV). The cost is even less and the breakeven is shorter if you can sell the included game codes.

Just one thing, 600 Avalon units are shipping in April which will cause the diff to rise to around 10 million, so a 7970 will only make $65-70 a month and with power costs in most states probably around $30.

There will be another 600 Avalons shipping in May so I wouldn't buy more 7970s expecting to hit ROI from this anytime soon.

 

[3DVagabond]

While I'm not saying that it's not going to get unprofitable to bitcoin mine with GPU's, people have been saying this for a couple of years now. When the 5800's were all the rage and people were buying them in lots of 4, people were telling them they were stupid and it wasn't going to be profitable. Here we are today and it's still profitable.

 

[Chiropteran]

While I'm not saying that it's not going to get unprofitable to bitcoin mine with GPU's, people have been saying this for a couple of years now. When the 5800's were all the rage and people were buying them in lots of 4, people were telling them they were stupid and it wasn't going to be profitable. Here we are today and it's still profitable.

To be fair, that was because BFL originally claimed it's ASIC devices would be available some 6 months months ago. It's kind of a given that mining will eventually be profitable only for ASIC, but it might still take a long time to reach that point for two reasons.

1- ASIC devices are coming onto the market very slowly.

2- BTC price continues to increase, counteracting the difficulty increase.

Eventually there will be enough ASIC devices to increase difficulty by 20X or more, and GPU mining will become power inefficient for many, but the ways things have been lately it might take another 6 months or even a year for that to happen. Then again, it's possible that by some miracle BFL suddenly starts shipping working product tomorrow, and ships enough ASIC to increase difficulty 50X in a week. It's hard to predict, but if I had to guess I'd say GPU will remain profitable to varying degrees for the next 5 months.

Based on some simple napkin math, I'd say a newly purchased mining rig today will never pay for itself completely at today's prices, but can come out ahead if you are able to resell the hardware at 50% or more of the original cost.

 

[Zargon]

That's totally wrong. At current difficult (and rates are projected to rise), it would take 3/4's of a month.

http://www.alloscomp.com/bitcoin/calculator is an easy profitability calculator. My 7970s give me about 600 Mhash/sec

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

way better calculator


a 500 mhash 7950 at 270 bucks using 300W of power at $.10 per kwh takes 110 days at to be profitable at 90 bucks a coin.

I havent measured what my single 7950 machine pulls from the wall while mining

 

[Chiropteran]

I'm actually tempted to build another mining rig myself now since ASIC have been delayed so long, but since the weather is getting warmer I would be competing with my air conditioning soon so I'm not sure it would be a wise investment.

Using https://www.bitcoinstore.com/ I could build an A10-5800k + 2X 7970 mining rig for about 14 bitcoins. I figure it could easily push out 1300mhash/s, earn 2.5 or so BTC the first month, maybe another 1.5 next month, and if I'm lucky 1.5 more over the next 2-3 months if difficulty keeps increasing as it is. Then I could resell the 7970s on ebay and hopefully get back 70% of the original cost. But I'd still be behind, so it doesn't seem like a good idea.

I think I just talked myself out of it, it doesn't make much sense if difficulty does continue to increase as it has.

 

[blastingcap]

I'm actually tempted to build another mining rig myself now since ASIC have been delayed so long, but since the weather is getting warmer I would be competing with my air conditioning soon so I'm not sure it would be a wise investment.

Using https://www.bitcoinstore.com/ I could build an A10-5800k + 2X 7970 mining rig for about 14 bitcoins. I figure it could easily push out 1300mhash/s, earn 2.5 or so BTC the first month, maybe another 1.5 next month, and if I'm lucky 1.5 more over the next 2-3 months if difficulty keeps increasing as it is. Then I could resell the 7970s on ebay and hopefully get back 70% of the original cost. But I'd still be behind, so it doesn't seem like a good idea.

I think I just talked myself out of it, it doesn't make much sense if difficulty does continue to increase as it has.

Even if all the other ASICs don't get their act together for the next few months, Avalon has three batches already and with each one we're probably going to see a 20 TH/s jump. So whatever the TH/s is right now, add 40 TH/s to it, then add some more TH/s due to the nonstop flood of people buying and upgrading GPUs, including people who didn't even look at their electric costs or factor in depreciation or difficulty rising and just have dollar signs in their eyes who buy up dozens of GPUs even at this late stage of the game. So yes, difficulty is going to go through the roof even if BFL etc. never produces a single ASIC. And I doubt BFL is that incompetent... worse case scenario they produce stuff and then sit on it to mine on themselves for a while, but that also increases difficulty just as if they sold them to customers.

 

[Smoblikat]

I had 18 bitcoins once.............then I lost mmy wallet. That was back when I was pulling several coins a week

 

[Chiropteran]

Litecoins double in value over the weekend. I was actually thinking about diversifying and putting 1/2 of my BTC into LTC on Friday, but didn't. Lost opportunity for some free moneys

$98 high for bitcoin this morning. $100 is getting close

 

[Zargon]

101!!!

 

[24601]

Litecoin $1.58 :O

 

[fleshconsumed]

High of 104! Too bad the difficulty seems to be going up faster than the bitcoin price. Just two weeks ago it took me 19-23 hours to mine 0.1 coin with 7950+7970, now it's up to 27-29 hours...

 

[philipma1957]

I SOLD 1.778 coins at 100.56 per bitcoin! after all fees (1.75) I collected 177 usd for 1.778 coins. about 99.58 net for a coin. I am amazed at this price. I ordered a hd7790 just as a hunch that I will be able to pay it off. I also sold off a hd7970. I now hash at 5500 to 5700. rather then 6000 to 6200. I need to cut back on power used as the summer is coming. The window for a GPU at bit coin will end very soon.

The network hash is at 70Gh difficulty will go to 7.5 mill next jump. I use bitminter and they are going to set up an easy litecoin pool. I will switch the gpus to litecoins and sell some off this summer. I have 78Gh on order from BFL Now that BFL has a working machine they will start to deliver gear right now they got a little single to run at 24Gh not 30Gh and at 179 watts not 30 watts. While that sounds really bad it comes to 7.5 watts a Gh compare to an avalon it is 10 watts a Gh.

My best rig is 3x 7970's it pulls 580 watts and hashes at 1.7 Gh that is 341 watts a Gh. SO if BFL does release in bulk like they promise but at 4 or 5 watts a Gh growth will not take off like expected. Think of it this way, if my gear is 340 watts for 1 Gh and bfl did 1 watt per Gh I could run 5 or 6 singles hash at 300 to 360Gh instead of 1.7Gh and pull the same power! At 5 to 7 watts not 1 watt I will run 1 single pull 300 watts hash at 60Gh. Big difference if your power is not cheap and you have a limit as to what you can provide. Today my entire setup is 5.7Gh at 2200 watts. I can do this in the winter in the summer I can do 1000 watts. So that would have been 15 or 16 singles at 60 watts. With the test they did lets say it is the worse case. I will run 2 or 3 singles and be at 1000 watts.

So the bfl news is good in that it will be a lot of firepower and big network growth. I really want them to do 3 or 4 watts not 1 watt and not the 7.5 watts a Gh on the first working rig that they did a demo the other day. If they do 1 watt a Gh it is too good compared to Avalon's 10 watts a Gh ,but if they do 7.5 watts it is too far off. So at 2, 3 or 4 watts it is better then an avalon's 10 watts. Just an opinion.,

 

[Chiropteran]

Litecoin $1.58 :O

Don't remind me. Kicking myself for not buying some on Friday. When they are up to $5 each I'll be kicking myself some more for not buying today at $1.50

 

[thilanliyan]

For us Canadians, what is the best way to get some money transferred from my bank account to one of the trading exchanges?

 

[Mir96TA]

For us Canadians, what is the best way to get some money transferred from my bank account to one of the trading exchanges?

Selling Rate is suck .......... but its very Easy Canadian BitCoin
This is easy but not very easy called Canadain Virtual Excahange Rates are GOOD some time very Good.
I have use both; but I like Canadian Virtual Exchange because of the Rate.
They both takes 2 min to setup!

 

[Mir96TA]

I dunno how I can generate any bitcoins with current Difficulty: 6695826 with GPUs
My 7970 6970 just not Good enough........
I always tell me self GPU minning is DONE....... but when I see price......... even 1/2 bit coin l@@ks GOOD
Irony ......Irony

 

[Chiropteran]

I dunno how I can generate any bitcoins with current Difficulty: 6695826 with GPUs
My 7970 6970 just not Good enough........
I always tell me self GPU minning is DONE....... but when I see price......... even 1/2 bit coin l@@ks GOOD
Irony ......Irony

Difficulty is kinda irrelevant in a vacuum. Difficulty:value ratio is all that really matters.

Calculate your mining returns in dollars instead of bitcoins

24 Hour Earnings 0.09592714 = $9.83, nearly $300/month, not bad.

 

[philipma1957]

Difficulty is kinda irrelevant in a vacuum. Difficulty:value ratio is all that really matters.

Calculate your mining returns in dollars instead of bitcoins

24 Hour Earnings 0.09592714 = $9.83, nearly $300/month, not bad.

yes here you go for a future

1 day

difficulty 7,500,000 the next one coming

hash 5.7Gh 10x 7970's

price 100 usd

power 16 cents a kwatt 2200 watts


-------------------------- 24 hours------------

Est difficulty:----------- 7,500,000
BTC earned:--------------0.38221478
Revenue:---------------- $ 38.22
Power cost: ---------------$ 8.45
Net revenue:-------------$ 28.81


so the next jump I would be making 28 bucks a day


This is what I do now;

Est difficulty: 6,695,826
BTC earned: 0.42811908
Revenue: $ 42.81
Power cost: $ 8.45
Net revenue: $ 34.36



Coins can drop to 50 usd And today I would make 21.40 - 8.45= 12.95 a day.

For me to not use the gpus price needs to be at 50usd and difficulty at 14,000,000 I would only make about $1.79 a day and that does not count power for AC. This may happen by July. Even if price holds at $100 I think difficulty will be at 30,0000,000 by August.

 

[Mir96TA]

Difficulty is kinda irrelevant in a vacuum. Difficulty:value ratio is all that really matters.

Calculate your mining returns in dollars instead of bitcoins

24 Hour Earnings 0.09592714 = $9.83, nearly $300/month, not bad.

That's thing ........ I just can't come out of the Bit coin Mining.............
Which is a Good thing I am devoting much time in studing........
I already knock off the R/S CCNP and I am doing CCNA Voice......... and CCNP Voice........ My GPU can offset the exam fee and telling me spend more time on studding...... even though I have nice killer system..........

 

[Zargon]

nice!

 

[ultimatebob]

Don't remind me. Kicking myself for not buying some on Friday. When they are up to $5 each I'll be kicking myself some more for not buying today at $1.50

Heh... I told ya to jump on the Litecoin bandwagon back when they were still 8 cents and you could mine 20 of them a day on a fast video card