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Title: Biggest opportunity for miners... Post by: ehoffman on April 10, 2013, 09:53:53 AM Well, mining has just become extremely profitable. I had fear that with the difficulty rise, people would move their GPU to other alt-coins, but with ASIC lagging, the price rise is way higher than difficulty rise.
I remember starting FPGA-mining in January (custom design re-using telecom cards that I have here at my job for free, with big FPGA) at 500MH/s, jumping to 2.2GH/s in Febuary. I told myself there's no point in adding more hashing power as ASIC would come and it will just become less profitable. I then waited for BFL 60GH/s SC as my next mining platform. But at the time, I popped a bitcoin in 3 days, worth like 12~15$/day. Now, even though difficulty has doubled (I now pop a BTC in 7 days), with price rise I now make 35$/day (That's a little over 1K$/month). So I just bought stuff to add 1.2GH/s. That will be 45$/day and continue rising ;D. I think a lot of miners, especially GPU miners where power cost is much higher than FPGA, are really happy continuing mining BTC. Especially looking at LTC flopping the last few days on the exchanges :) Run Bitcoin... Run :) Title: Re: Biggest opportunity for miners... Post by: Frost on April 10, 2013, 10:24:23 AM Is there any chance with my GeForce 570 Phantom? :'(
Title: Re: Biggest opportunity for miners... Post by: Uglux on April 10, 2013, 10:26:44 AM Is mining with EC2 profitable now? ;D
Title: Re: Biggest opportunity for miners... Post by: ehoffman on April 10, 2013, 10:43:19 AM Is there any chance with my GeForce 570 Phantom? :'( You can mine with anything... Even with paper and pencil :P It's just a question if it's profitable or not. This can give a very good idea of hashing rate https://en.bitcoin.it/wiki/Mining_hardware_comparison And you plug number into this, and give you the profitability http://www.bitcoinx.com/profit/ For example, a GTX570 Phantom, clock stock at 750MHz, give around 140MHash/s. It give around 2.25USD/day with current BTC price. From that you have to subtract power cost. The card draw 219W, but let's say it uses 150W more than idle. I don't know how much is electricity for you, but it should give around 1.50$~2$ profit per day. So it's maybe 50$ per month, if BTC price stay constant (which it wont!) So if BTC price rise, the rise will act as a lever on the early BTC you will make :) At least it's more profitable than running SETI@Home ;D Title: Re: Biggest opportunity for miners... Post by: Frost on April 10, 2013, 10:58:50 AM Thanks that you explain this. I think I will give it a try now... sounds fun.. who knows where the exchange rate ends. :) But I must read now how to setup my system then. ;D
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