I lower the fee to lowest the first time. No transaction confirmation seen but the balance is still there. Second tries, stop being cheap and did not adjust the transaction fee, went through just fine.
Even if 1080 could beat the Fury X for eth mining, the Fury X itself will probably be worse value than 2x $299 Polaris 10 cards, unless AMD reduces the price of the Fury X to $399 or lower. Assuming Polaris has 2304 shaders clocked at 1250mhz and 150W TDP, it's possible to put 6 of those on a single 1000W Platinum PSU with a rather affordable Gigabyte Z170X-Gaming 3. 1080 uses 180W and costs $599 US minimum. Unless 1080 has at least double the throughput of a 150W Polaris 10, the upfront cost would be double and to run 6 cards off the same board would likely call for a 1200-1300W unit.
I wonder how low Fury X will fall in price. With 1070 150W power usage, 8GB of memory, updates features, and GP104's overclocking headroom, Fury X will need a price drop to $300 US, maybe even lower. This of course means it may become worthwhile to get the discounted Fury X for mining should it drop that low since the AIO CLC will ensure it remains cool and quiet throughout the entire summer of mining. This is why the match up of Polaris 10 vs. 1070 vs. discounted Fury X could become very interesting for miners.
I don't think AMD can drop the FURY X's to $399 or lower. The Fury X's will likely match or outperform the 1070 on average (at least at 1440P or higher) and the cost of the card must be astronomical in comparison (HBM, CLC, etc).
It's my favourite mining card due to the reasons you state (essentially they make little to no noise hashing away) but I got them for a silly price (around $450 USD around 6 months ago and they've already paid for themselves).
Ether vs. Bitcoins Mining comparison:
ANTMINER S7 BATCH 17 with 2 fans - Shipped out from May 23 = $450 USD
APW3-12-1600-B2 1600W PSU = $140 USD
Total upfront cost = $590 USD
Power usage at least 1293W
@ 4.7TH/sec, this earns $162 USD a month
https://alloscomp.com/bitcoin/calculator
Assuming $300 Polaris 10 earns $80 a month similar to 290X, that would be $160 a month for ~ $600 Polaris 10 CF with 300W of power usage. No need to even buy an expensive PSU with 2 Polaris 10 cards.
The GPUs can be resold quickly in the open market for at least 50% of their retail price 6 months from now. The Bitcoin mining system? Who knows.
Seems in the foreseeable future Ether mining is still the way to go over Bitcoin mining.
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Found Bitcoin mining benchmarks on Computerbase. 1080 does indeed outperform every card, but looking at 980Ti vs. 390 scores is a red flag. It seems bitcoin mining is not correlated directly with Ether mining. 980Ti easily beats 390 by 23%, but in Ether, the 980Ti max overclocked is actually slower than a stock 390.
http://www.computerbase.de/2016-05/geforce-gtx-1080-test/8/#diagramm-compubenchcl
Genoil is saying 24Mh for the 1080 which is frankly terrible but not surprising given how the 980 Ti performed.
https://bitcointalk.org/index.php?topic=1464999.msg14891671#msg14891671
Looks like we'll be sticking to Radeons. He also made a comment that the new Radeon's will likely not be anything special at mining due to narrow bus etc.
Fury Nano looking like the card to beat, we just need it to drop price hehe.
So why would I want to mine Eth? What benefit is there to it as a currency over bitcoin? I mean I realize that it has value now, but what is that value based on? Why spend the time, money on mining it when it could just lose all value right after I've mined it (like many have in the past ).
Hmm that is disappointing about the newegg thing. False advertising ftl.
Yup. I just called Newegg to RMA them. I guess I will just eat the 390x depreciation and keep my powder dry for Polaris. I apologize for anyone else who got caught up in that situation because of me. Crappy thing is they changed the description to be correct AND dropped the price $20 because they know the cards aren't worth that.
The Sapphire Tri-X's are only $249 CAD here:
http://www.newegg.ca/Product/Product.aspx?Item=N82E16814202208
I'm tempted to buy some but don't have any more motherboards and power supplies. Even if I did I have nowhere left to plug them in lol. Perhaps I could build another milk crate miner and outsource to my brother
Good price even for a refurb.
Genoil is saying 24Mh for the 1080 ....Looks like we'll be sticking to Radeons. He also made a comment that the new Radeon's will likely not be anything special at mining due to narrow bus etc.
Fury Nano looking like the card to beat, we just need it to drop price hehe.
That one is the upgraded New Edition Sapphire Tri-X R9 290, with 6 power phases instead of the old version's 4, and 2x 8-pin connectors, instead of 6+8. Other than the Lightning and Vapor-X, this is the probably the 3rd best R9 290. It does have Sapphire's custom PCB though instead of AMD's reference; so not sure if voltage control is working properly.
@RS No I understand how mining works (I started bitcoin back when it was pennies... wish I kept some then )
What I was asking is, where is the value of Eth? BTC is well known and established, but what does Eth bring to the table? Why would I use it over BTC? Where is its inherit value?
Not just why should I mine it to make some money, but how do I know it will keep value over the next 30 days, let alone year?
Because Ethereum is the evolution of crypto and has the brightest future.
What makes it better is my question. I've seen countless coins claim to be better, go for a month or 6 then die.
What makes it better is my question. I've seen countless coins claim to be better, go for a month or 6 then die.
Interesting. Since Polaris looks to have a smaller bus width than Hawaii, we may have to wait for Vega and big Pascal with HBM2 before a new mining leader has the potential to emerge. Until then, 390 and Nano aren't likely to drop to firesale prices, or if they do they won't be on the market for long.That one is the upgraded New Edition Sapphire Tri-X R9 290, with 6 power phases instead of the old version's 4, and 2x 8-pin connectors, instead of 6+8. Other than the Lightning and Vapor-X, this is the probably the 3rd best R9 290. It does have Sapphire's custom PCB though instead of AMD's reference; so not sure if voltage control is working properly.
Thanks for that link. I read the thread. The members on there think most 256-bit cards max out at 24MH/sec due to a memory bandwidth/latency bottleneck. That's why Fury X can do 33-35MH/sec. With 224 GB/sec and 2048-2304 SPs on the Polaris 10, it might even be a worse miner than the R9 390.
If people are on the fence whether or not to mine Ethereum, then I'll just say "no, you shouldn't do it". Less competition for me, right?
If you do decide to mine, though, I'll help you in any way I can to get the most out of your hardware.
Btw, I do not recommend Vapor-X 290s for mining! They are absolute power hogs. Something happens to them at clockspeeds above 990 MHz (default is higher than that) that causes them to pull anywhere from 25-40W more than what can be justified by their performance. Perf/watt is terrible. I haven't figured out how to deal with the inexplicable jump in power consumption at such speeds.
None have come close to the market cap of Ethereum. Ethereum is backed by a great community and because of the way the presale was done, there is incentive for the developers behind it.
Also to note, Bitcoin is suffering major issues in regards to time to complete a transaction. Currently, Bitcoin can only handle about 3000 transactions every ten minutes, and this limit is regularly broken. Because of this, transactions sometimes don't go through for 30-60 minutes minimum. And then 6 blocks need to happen before people consider a transaction verified. All-in-all, you're looking at up to 30 minutes to start the transaction and 60 minutes more to confirm.
In the next 60 days, the block reward for Bitcoin is going to half from 25 BTC to 12.5. When this happens, a very large amount of the hashing network will be unable to generate positive income (due to rewards being less than power cost). When this happens, a good 20-50% of the network may very well go offline at the same time. This will make it so block times go up as the block difficulty takes about 5 days to adjust. This combined with people being afraid of BTC's value dropped, there may be a partial exodus from BTC. With more transactions and longer block times, some are fearing it could take hours or days to process a transaction. Anyhow, we'll find out what happens in July.
Ethereum, on the other hand was designed to handle much higher transaction volumes, has a stronger, more liked core team of developers, and a good long-term vision. In the future, with sharding, ETH should be able to scale exponentially.
I'm not going to sell you on it. Google is your friend.