Cryptocoin Mining?

[Zargon]

that's why i went small time,the only money i have invested is 110 for the 5830,55 for a motherboard and .92 btc for an extention cable and i mined 25 coins so no matter what i get for the 5830 it's still a profit.i sure wouldn't want to be someone who bought 10-20 of them

ha.

yeah. it was fine till last week

I was up about 33% with 150 in, now I'm down 50% instead

oh well, all I did was pretty much stop going out to lunch during the work week for a while and use it to speculate on btc's, so no *real* loss

 

[WhoBeDaPlaya]

At least I didn't go with Semprons for the builds. The only thing I'll take a loss on are the graphics cards, and it helps that I got them cheaper.
The rest of the hardware (case, PSU, PII X3 @ X4, brand new mobos, HDDs, etc.) are all still extremely useful for any new builds.

 

[hdfxst]

i have 10.5 coins that i'm just going to sit on and hope for the best(i shut down at 5pm est)the one thing i took away from this is building a case,the first one i put together in a hurry for as little downtime as possible.now i'm going to take my time build a custom case

 

[dakU7]

50 coins i'm going to keep. If the ship sinks, i'll lose my coins with it.

 

[Chiropteran]

$6.61.

I'd buy now if I had cash in my mtgox account. Yet I don't. This could be a start of a total collapse, or it could be a chance to be a new early adopter.

 

[NoStateofMind]

$6.30 and I'm thinking about shutting down the miner. Almost break even point. I did listen to my inner self the other day and cashed out at around the $12 mark. Able to recoup my losses for sure. Now its just a question of whether its still profitable to mine.

 

[Elfear]

Man this sucks. I just got into mining about 10 days ago. I already had a pair of 6950's and I bought a 6870 to throw in with them. I've got a little over 6 bitcoins right now. Probably just hang on to them and shut down my mining operation until prices start to rise again.

 

[v8envy]

this is why i got 6950 1 gig cards. If this shit goes bust, i'll be able to sell them. Good luck selling 5830's.

Also, I can't fathom why anyone would use a 3rd party bitcoin bank to store coins.

Still selling for around $100-130 on ebay. Much below $80 and I'll pick up some more of the XFX variety with warranty. Considering my cost is $104 and lower if I sell the copies of Shogun I'm not sure a 5830 is the wrong choice. I don't see 6950s going for anywhere near 250.

 

[Mir96TA]

My miner gonna have weekend off ...........

 

[dakU7]

Still selling for around $100-130 on ebay. Much below $80 and I'll pick up some more of the XFX variety with warranty. Considering my cost is $104 and lower if I sell the copies of Shogun I'm not sure a 5830 is the wrong choice. I don't see 6950s going for anywhere near 250.

You can already see some guys selling 5830s for 90$ in the bitcoin forum.

 

[Dark Shroud]

$90 is too much for what they probably put those cards through.

My hardware is paid off but this still annoys the heck out of me.

 

[Muyoso]

You guys do realize that the exchanges were flooded with over 30k BTC most likely from the mybitcoin.com hack today right? Its most likely a great buy opportunity.

Also, pool hopping rules. Just thought I would throw that out there.

 

[dalamchops]

You can already see some guys selling 5830s for 90$ in the bitcoin forum.

that's me buddy. Got 35btc and $30 on paypal.

 

[Zargon]

too bad it takes days to get cash into an exchange

 

[SlowSpyder]

I hadn't paid much attention to the values lately, last time I looked the price was somewhere around $15. Then yesterday I looked at the values again... egads. Glad I didn't buy any hardware for this.

 

[dalamchops]

too bad it takes days to get cash into an exchange

that's why i think prices should shoot back beyond $10, people want to buy but no money in the exchanges, while the hackers dumped about 20k coins in to crash the market.

 

[4ghz]

You guys do realize that the exchanges were flooded with over 30k BTC most likely from the mybitcoin.com hack today right? Its most likely a great buy opportunity.

Even if that were true it doesn't explain the steady decline from about $18 to $11 in the last month or so. There are over 6,000 bitcoins "minted" per day. I highly doubt there is enough demand to absorb that many new coins. As I said before the only practical use for these coins are for illegal activities. Otherwise they are inconvenient to obtain, slow to transfer and offer the buyer no protection. Seller's might like them but as a buyer there is no advantage to using them in a legitimate transaction.

Even in illlegal transactions their demand is limited. Lets say Joe buys bitcoins to buy drugs from Bob. Bob receives bitcoins. Bob cashes in bitcoins asap at an exchange so he gets the amount he wanted for the drugs before the exchange rate changes. Joe's bitcoins are dumped right back into the market. Unless Bob is a drug dealer turned speculator.

 

[dakU7]

You guys do realize that the exchanges were flooded with over 30k BTC most likely from the mybitcoin.com hack today right? Its most likely a great buy opportunity.

Also, pool hopping rules. Just thought I would throw that out there.

Mybitcoin.com didn't got hacked. We don't know anything yet. The fact that the owner took the time to post a disclosure suggests otherwise.
Interesting week a head for Bitcoin nonetheless.

 

[gorobei]

the running theory is that mybitcoin.com may be/have always been set up and run by hacker/scammers. people were noticing tiny amounts of btc disappearing from their accounts and when the issue became more widely known with calls to investigate/withdraw funds (made by Bruce Wagner) the site shut down. the site currently claims that someone was exploiting a glitch in the accounting software. investigations of the site owner reveal a generic name (Tom Williams) located on offshore money haven st.kits.
http://www.betabeat.com/2011/08/05/mybitcoin-disappeared-with-bitcoins/

at the time of bruce wagners last video, none of the btc in the mybitcoin wallet had been transferred out. possibly because it would be easy enough for the fbi to track the ip-address.
so hackers selling off mybitcoin's wallet contents is not what is causing the sell off.

fyi wagner had 25000 bitcoins in his mybitcoin account and had been evangelizing bitcoins and the mybitcoin service. http://onlyonetv.com/2011/08/the-bitcoin-show-episode-033/
while his intent was genuine enough, his judgement was a little questionable. (who tells people to use a online wallet rather than run a single app on your own pc?). though he was visionary enough to buy large quantities of btc when it was 20cents.

 

[Chiropteran]

Over $10 again. Kicking myself for not buying at $6, though the reality is even if I tried I wouldn't have been able to get the cash into my account fast enough.

 

[Zargon]

yup. need to toss money in mtgox and let it sit for the next crash phase I guess

 

[hdfxst]

If anyone had coins in mybitcoin it looks like some are getting reimbursed https://bitcointalk.org/index.php?topic=35970.0 you have to file a claim here https://www.mybitcoin.com/login/index.php?SESSID=ijnainlmvd2oa4tjgnjctlb4d5hp7tv1 the claim form will only be up for 30 days

 

[ghost recon88]

Sold for $10.25 this morning, looks like it peaked around $10.60 and its heading back down a little. Time to get my other cards fired back up since prices are decent once again.

 

[MentalIlness]

Ive been mining for approx two weeks now or so. Been using a single 6870. Going to add the other one soon. Maybe even pick up a third 6870.

If it gets out of hand "mining" I at least will have a 6870 for each of my 3 PC's.

Regardless what the current prices are, I have kept it going non-stop. My 6870 temps "never" exceed 69c on 75% fan through CCC.

I have the reference versions of the XFX 6870's.

 

[dakU7]

For the first time the difficulty is actually going down (~3&#37.