BallaTheFeared
Diamond Member
- Nov 15, 2010
- 8,115
- 0
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So do you plan to buy it with Bitcoins directly.?
Does Newegg take Bitcoins.
No, newegg doesn't take cyrpto.
Paypal balance.
So do you plan to buy it with Bitcoins directly.?
Does Newegg take Bitcoins.
No, newegg doesn't take cyrpto.
Paypal balance.
I'll tell you this... if/when a major retailer like Newegg or Amazon starts taking crypto coins, the price of Bitcoin and Litecoin are going to skyrocket
Honestly, I'm amazed that more online retailers aren't using Bitpay already. It allows you to accept Bitcoins for payment, but you still get paid in US dollars. The fees that Bitpay charges are less than the merchant fees for a credit card, and you don't have to worry about chargebacks.
It's not surprising, they won't accept it until it becomes less volatile. Since bitcoins can half in value practically overnight, it isn't a viable form of currency for the vast majority of business. The dollar is more or less somewhat stable. Credit is a stable form of currency. Bitcoin is a question mark. They can get a 1000$ purchase and if paid with bitcoins, they could either get 1000$ or that could turn into 700$ (ie a 300$ loss) in a matter of hours.
For instance, China declared that BTC is not an acceptable currency to them. What happens? Bitcoins tank. So any etailer that had accepted bitcoins as a form of payment? Hello massive operating loss.
If you believe that cryptocurrency prices will keep going up, then you might as well just buy the cryptocurrency directly. People mocked me for saying this back when BTC was like $50-100 and now look at it. Same with LTC, it was like $3.50.
Man, that's a lot of setup and installation work for... what... $200 a day once he gets all that set up?
That's assuming that he doesn't have to upgrade the wiring coming into his house to power all that equipment... it would likely take weeks for the power company to do that.
Hell, by the time he's finished setting up those systems the difficulty would have increased yet again. If the price of Litecoin doesn't go up with it, now he's only making $150 a day and dropping quickly.
If he's that passionate about Litecoin, he should just buy 500 of them and get it over with.
If he put that much money directly into buying LTC instead of mining it, he could quit. Otherwise... can you imagine the headaches of setting up and maintaining that many cards? Way easier to buy and sell currencies directly.
If he put that much money directly into buying LTC instead of mining it, he could quit. Otherwise... can you imagine the headaches of setting up and maintaining that many cards? Way easier to buy and sell currencies directly.
Well since he started awhile ago it would be higher.. but if he started today..
It's more like $500 a day (69 x 7950 at 600kHa/s is a lot), or ~$15,000 a month AFTER paying electricity (69 x 250W average each, less due to 4 cards per system) of ~0.1 USD per kWh which is high in some parts of USA heh.
If he had that setup going since the start of the year, holy crap.. it would have been ridiculous, he could quit his job and be swimming in $$.
Of course, the air conditioning bill for 70 radeons, that would offset electricity costs a bit more.
$17,500 for GPUs (~250 each back then) is a sizeable investment for sure, but if he spent that much money and risk LTC crashing, he would have had a major loss. But his 69 radeons? They are still worth plenty for gamers. A 7950 OC is still a great gaming card for many. Its the same argument, risk vs reward and how much risk are you willing to take on?
Btw, 69 x 7950s mining since the start of the year would have now already made him a fortune, regardless of whether he bought GPUs to mine or buy coins directly.
Nah, open the windows. If its in a garage, not a problem!!
I dunno...it gets pretty darn toasty in the southeast and humidity is a big issue. I kinda doubt windows alone would cover 70 radeons. I'd love to hear firsthand stories from dudes running these types of farms though. As far as drawbacks, hassles, profits, etc...
My two mining rigs are already giving me enough of a headache, I can't imagine myself maintaining dozens of them.
There were dudes buying 7950s en-mass start of this year. For BTC mining before ASICs killed it, which they then would switch to altcoins. Sure these days, R290 is the best bang for buck mining/gaming, but back then 7950 reigned supreme.
$17,500 for GPUs (~250 each back then) is a sizeable investment for sure, but if he spent that much money and risk LTC crashing, he would have had a major loss. But his 69 radeons? They are still worth plenty for gamers. A 7950 OC is still a great gaming card for many. Its the same argument, risk vs reward and how much risk are you willing to take on?
Btw, 69 x 7950s mining since the start of the year would have now already made him a fortune, regardless of whether he bought GPUs to mine or buy coins directly.
The point of having money is to ENJOY LIFE, not add more headaches to it.