But they're USB ASICs. How much power would a USB draw? You can run that along with your GPU and use it to mine BTC. 500Mh/s is a lot isn't it?Some quick math:
$300 R280X @ MSRP (before pricing went crazy): 700 kH/s @ ~225W
$850 for 10x dual miner USB: 700 kH/s @ ~25W
Note: both numbers exclude PC power (but both need a PC to run them).
At a delta of 0.2 kWh at 10c per kWh you have a raw power savings of < $15/month. Since I'm paying even less in power, I'll keep my GPUs.
But they're USB ASICs. How much power would a USB draw? You can run that along with your GPU and use it to mine BTC. 500Mh/s is a lot isn't it?
Even if Bitcoin difficulty is frozen for the rest of time, it would take around 3 years to ROI at 500 Mh/s.500Mh/s is a lot isn't it?
BTC has stalled @ $800 (market cap @ 10 bil) and all the alts have effectively followed suit. The US gov, SEC, etc can step in anytime and effectively kill BTC/scrpyt-coin profitability and everyone's current holdings. Yeah yeah, I know they can't completely kill cryptocurrency, but we all know that will kill profitability/current-value.
I think there is potential for big growth this year, but I'm not seeing any sort of "marketing" going on for cryptocurrencies, which is what will increase total market cap.... which is what makes mining profitable, awesome and fun.
Seriously considering selling my miners off as more GPU miners and SCRYPT-ASICs come online even though it's still profitable right now. Just curious where everyone thinks BTC & co. is headed in 2014.
BTC has stalled @ $800 (market cap @ 10 bil) and all the alts have effectively followed suit. The US gov, SEC, etc can step in anytime and effectively kill BTC/scrpyt-coin profitability and everyone's current holdings. Yeah yeah, I know they can't completely kill cryptocurrency, but we all know that will kill profitability/current-value.
I think there is potential for big growth this year, but I'm not seeing any sort of "marketing" going on for cryptocurrencies, which is what will increase total market cap.... which is what makes mining profitable, awesome and fun.
Seriously considering selling my miners off as more GPU miners and SCRYPT-ASICs come online even though it's still profitable right now. Just curious where everyone thinks BTC & co. is headed in 2014.
Anyone look at Vert coin. Looks like a safe bet against Asics, but it's #@$#@ to mine. Might just be the successor to LTC.
I agree on the potential for big growth. The way I see it, we are still in a situation where average joe doesn't really know what bitcoin is all about. But once a person understands what it's about, they are likely to want to support it. Average joe may spark a 2nd buying frenzy of wanna be speculators that aren't into mining/computer geeks, but have learned enough to appreciate that it's the future.
As for government action to stop bitcoin, that is a very high risk because the adoption of bitcoin comes at the huge loss of profits to credit card companies and banks that have predatory tactics for raking in huge transaction fees.
But imagine a world in the future, where Amazon, Newegg, Overstock, etc. offer you a 1% discount at checkout, if you choose to pay via bitcoin.
Think about that. Already, when you get to the checkout page, you pick from credit card, or google payment, or amazon payment, or paypal. Why not just add the bitcoin option?
The killer reason to add it, is that the customer will be jumping at it to save his 1%, and then the vendor *ALSO* can save 1%-2% again. So both the seller and the buyer can save money. All that saved money would have instead went directly to middlemen like visa or paypal. But now it's given back to the buyer and the seller.
We have grown accustomed to current prices that already include a ~3% markup for transaction fees extracted by middlemen. Bitcoin unlocks that and gives the money back to those who deserve it, the buyer and seller.
So in other words, this is the future. And companies threatened by the future will pour huge resources into fighting tooth and nail against it, to get unfair legislation passed to block and delay the inevitable future and the improvements it will bring.
You have to use a modified CGminer. Also your hash rates will be halved due to some funky new algo.Is GPU mining that coin a lot faster, or is CPU mining still viable?
Companies such as Cex.io are routinely hitting 40% PoW computational power on a daily basis, and will soon be able to perform 51% attacks at will, if they so choose.
Yes. Cex.io have had to slow down installation of new ASICs, because they were exceeding 40% of all bitcoin hash power.I found this statement from that thread to be interesting:
I've never heard of Cex.io, but is it true they amount to that much hashing power on the network?
Check this thread.
https://bitcointalk.org/index.php?topic=416572
Also download the latest miner from
https://bitcointalk.org/index.php?topic=404364.2140
I'm sticking to Dogecoins.
TO THE MOON!
Block 85,360 - fewer than 14,700 blocks to go before reward rate halves
Was going to get in. A bit too late... I'm still holding out for Foxcoin though!Man...Vertcoin took off...saw it earlier today at 0.001BTC, now at 0.0025BTC at Coinedup!
Mine as much as possible.Block 85,360 - fewer than 14,700 blocks to go before reward rate halves
I'm having no luck mining with my 6950 on Virtcoin. Best I can get without hardware errors is around 125 kH/s, or roughly 1/4 what I get with regular scrypt mining. I've probably got a bad card for this algorithm as underclocking seems to help a bit, but otherwise anything above intensity 12 causes HW errors and the work unit rate drops.