Title: Still money in mining Post by: JayKEy00 on May 27, 2013, 06:15:13 PM Hey guys,
is there still money in mining or do you get only the costs of computer and energy back? Title: Re: Still money in mining Post by: Chrithu on May 27, 2013, 06:18:04 PM Depends on what you mine with.
Cost efficient GPUs can still get you a profit. But to really earn some money you'd be better of with ASIC based miners. Title: Re: Still money in mining Post by: bt_spectro on May 27, 2013, 06:48:17 PM Hey guys, is there still money in mining or do you get only the costs of computer and energy back? For GPU mining, it depends on your electricity cost. Run the numbers based on cost of electricity, hash rate and price of bitcoin. The consensus around here is GPU mining is no longer worth the cost, but I ran the numbers and figured that even if difficulty triples, at current bitcoin prices I will still make some money by keeping my computers on, something I already do anyways ;D Title: Re: Still money in mining Post by: teeone on May 27, 2013, 06:57:26 PM Here is the site you want to look at:
http://www.bitcoinx.com/profit/ All depends on GPU or ASIC mining ...and what your electricity price is Title: Re: Still money in mining Post by: CryptoJunky on May 27, 2013, 08:02:18 PM I'm still mining and will continue to. If you have an interest in Bitcoin, it's not a bad idea to try your hand at mining. I'd recommend doing some extensive research and making only small investments to start.
Title: Re: Still money in mining Post by: Gabi on May 27, 2013, 08:05:22 PM Currently mining hashrate is over 100THash/s
This means that yes, for some people it is profitable. Hashrate keep increase :) Title: Re: Still money in mining Post by: jelin1984 on May 27, 2013, 08:05:58 PM I think that gpu card for mining is dead only ASIC miner now
Title: Re: Still money in mining Post by: picasso on May 27, 2013, 08:11:35 PM only ASIC can get money
Title: Re: Still money in mining Post by: DMTechie on May 27, 2013, 08:31:22 PM ASIC is the not so distant future of mining..
Think of mining as a way to preserve wealth. Title: Re: Still money in mining Post by: Kurcoin on May 27, 2013, 08:40:33 PM Only if you are minning scrypt, keep your coin from scammers and wait the right momment to sell
Title: Re: Still money in mining Post by: frobley on May 27, 2013, 09:17:17 PM It very much depends over what time period you are thinking.
People who started mining btc, ltc and have held for 2 years have done very well. If you want to mine today and get rich tomorrow, then I doubt it. Title: Re: Still money in mining Post by: JuneRabbit on May 28, 2013, 12:38:56 AM only ASIC can get money
Title: Re: Still money in mining Post by: gnode on May 28, 2013, 01:52:23 AM Many people underestimate the amount of electricity is used in mining. If you can get "free" power you can make a lot of money.
Title: Re: Still money in mining Post by: zemansky on May 28, 2013, 02:10:06 AM I guess there is
At least in my country (Argentina) Electricity is subsidized and buying dollars is restricted right now so BTC are bought/sold using dolar's black market price (more than 50% higher than the official rate) Title: Re: Still money in mining Post by: darksun22 on May 28, 2013, 03:05:54 AM I travel a lot so I get to use hotel power lol.
Im in a condo in panama city right now so LOL. As long as it does not crash my graphics card Title: Re: Still money in mining Post by: Chez.Savage on May 28, 2013, 03:08:43 AM Well there is if you buy ASICs but they generally cost alot of money
Title: Re: Still money in mining Post by: abzaladin on May 28, 2013, 03:15:57 AM Depends on your cost of electricity also!
Title: Re: Still money in mining Post by: senguier on May 28, 2013, 03:26:54 AM I usually leave my computer on when I am at work etc... so letting it run as a GPU miner does not really affect my power consumption to much. With that in mind, after about a month, I only have .25 btc. Looking into some of those 5ghz mining machines but not sure if I want to drop $250 into it.
Title: Re: Still money in mining Post by: megadeth92 on May 28, 2013, 04:55:04 AM I was searching for other companies that make ASIC miners (differente of butterflylabs, avalon)...., but I can't find any..
Someone knows about other ones? Title: Re: Still money in mining Post by: merve10495 on May 28, 2013, 05:01:26 AM 5ghz mining machines but not sure if I want to drop $250 into it. Which 5Hgz mining machines are you looking at? edit: There is also Terrahash for those that can only find Avalon and Butterfly labs, but I'd stay away from butterfly labs. Avalon is a lot more trustworthy imo. Title: Re: Still money in mining Post by: rtt on May 28, 2013, 05:02:27 AM I was searching for other companies that make ASIC miners (differente of butterflylabs, avalon)...., but I can't find any.. USB-dongle miner here: https://bitcointalk.org/index.php?topic=217104.0;allSomeone knows about other ones? Title: Re: Still money in mining Post by: UniversalTrek on May 28, 2013, 05:29:41 AM Depends, but yes, you can sit around and mine all the new alts coming out everyday and dump them before the coins dump...
Title: Re: Still money in mining Post by: grosskate on May 28, 2013, 05:53:24 AM It s going to be really hard mining with only graphic cards. Many ASIC devices are poping up everywhere....
Title: Re: Still money in mining Post by: nousfeed on May 28, 2013, 08:02:41 AM im still making money mining litecoins, I got a 5970 for cheap, it gets me about 1 litecoin a day for $1 a day worth of electricity. Its also winter here so the extra heat is nice.
Title: Re: Still money in mining Post by: LABitMarket on May 28, 2013, 08:07:36 AM Pay a legion of hard hat clad workers and you're in business! Boom!
Title: Re: Still money in mining Post by: riaro on May 28, 2013, 08:20:06 AM yes , if you are sn ASIC based miner.
Title: Re: Still money in mining Post by: addictivegaming on May 28, 2013, 09:03:04 AM 5ghz mining machines but not sure if I want to drop $250 into it. Which 5Hgz mining machines are you looking at? edit: There is also Terrahash for those that can only find Avalon and Butterfly labs, but I'd stay away from butterfly labs. Avalon is a lot more trustworthy imo. Hello. Why would you prefer Avalon Systems over Butterfly Labs. We have been looking into Butterfly Labs products and would love to learn more about the differences between each. -Quality -Speeds -Advantages one may have over the other -Power consumption Thank you! Title: Re: Still money in mining Post by: merve10495 on May 28, 2013, 09:56:19 AM I was searching for other companies that make ASIC miners (differente of butterflylabs, avalon)...., but I can't find any.. USB-dongle miner here: https://bitcointalk.org/index.php?topic=217104.0;allSomeone knows about other ones? I wouldn't mind purchasing one of these sticks or a couple, but I don't want to buy 50 in one go :( @Addictivegaming I would choose Avalon over BFL as you don't see any bad publicity for Avalon on the forums at the moment as they actually make the products and ship them. BFL charged ridiculous amounts for things and showed nothing of it. They then promised release dates and kept pushing it back as more orders came in and kept creating more options to pre-order. Once they finally got the ASICs to start production (Months after actually saying they would be shipping) they figure out their plans are all wrong because it is actually making parts of the product melt as the plastic can't cool down fast enough. A couple of days ago they added an option for people to 'upgrade' their product even more to squeeze more money out. They even refuse to refund some people. Avalon is actually sending products out. However I can not persuade you, it is up to you if you like the idea of a faster product or actually receiving a product. -Quality The products are melting due to attempting to make them look good appose to perform how they should. -Speeds Unable to actually tell you a price changing the size of their prices for ASIC three times since original pre-orders came out. -Advantages one may have over the other What? -Power consumption Product hasn't even been released and they don't say any specs that anyone other than they can confirm. I can say I've made an ASIC that is half the power consumption how would anyone know any different? Title: Re: Still money in mining Post by: xiaodaoxiaodao@gmail.com on May 28, 2013, 11:10:10 AM continue working, you will got coins.
Title: Re: Still money in mining Post by: Markov on May 28, 2013, 12:04:31 PM How about alt currency?
Title: Re: Still money in mining Post by: Rangertime on May 28, 2013, 12:41:19 PM i made some profit off of wdc but the big guys raped the difficulty =/
Title: Re: Still money in mining Post by: ScottJD on May 28, 2013, 12:42:42 PM The 5ghz Jalapeno is only about $250, This would earn it's money back in 2 weeks surely?
Title: Re: Still money in mining Post by: Snail2 on May 28, 2013, 12:58:29 PM Mining new altcoins with some decent hardware and dump them shortly after they appear on an exchange is profitable :).
Title: Re: Still money in mining Post by: SimplyBTC on May 28, 2013, 01:19:15 PM It doesn't seem worth it with a normal computer. I think if you had free electricity and a high powered computer it would be worth it.
Title: Re: Still money in mining Post by: GhanaGamboy on May 28, 2013, 01:27:06 PM The 5ghz Jalapeno is only about $250, This would earn it's money back in 2 weeks surely? Would be nice if BFL send it second day after paying for it. Something is not rigt... Title: Re: Still money in mining Post by: retro72 on May 28, 2013, 01:47:08 PM Still getting a decent return with my gpu rigs. ROI is higher though about 5-6 months.
Title: Re: Still money in mining Post by: tzh2231 on May 28, 2013, 01:52:59 PM I think recent math is roughtly break even on about 25c/kwh electricity?
anything above 15c electricity makes GPU mining like a chicken rib. Hey guys, is there still money in mining or do you get only the costs of computer and energy back? For GPU mining, it depends on your electricity cost. Run the numbers based on cost of electricity, hash rate and price of bitcoin. The consensus around here is GPU mining is no longer worth the cost, but I ran the numbers and figured that even if difficulty triples, at current bitcoin prices I will still make some money by keeping my computers on, something I already do anyways ;D Title: Re: Still money in mining Post by: rtt on May 28, 2013, 02:45:57 PM I was searching for other companies that make ASIC miners (differente of butterflylabs, avalon)...., but I can't find any.. USB-dongle miner here: https://bitcointalk.org/index.php?topic=217104.0;allSomeone knows about other ones? I wouldn't mind purchasing one of these sticks or a couple, but I don't want to buy 50 in one go :( --------------------------------- Please search for "Group Buy", such as this one (closing shortly): https://bitcointalk.org/index.php?topic=201577.0 People get together and order the required number on these forums (was 300 min, now 50 min) from AsicMiner. Title: Re: Still money in mining Post by: neordicICE on May 28, 2013, 03:03:41 PM How about alt currency? These are only good for GPU and converting to Bitcoin immediately Title: Re: Still money in mining Post by: therealjonnyd on May 28, 2013, 03:17:57 PM Alt coins are good to immediately trade for BTC as said above. When the ASIC devices hit the network, altcoins *might* stay profitable for a bit with GPU's.
Title: Re: Still money in mining Post by: therealjonnyd on May 28, 2013, 03:18:45 PM I was searching for other companies that make ASIC miners (differente of butterflylabs, avalon)...., but I can't find any.. USB-dongle miner here: https://bitcointalk.org/index.php?topic=217104.0;allSomeone knows about other ones? You said "dongle" hahaha, that's a funny word. Title: Re: Still money in mining Post by: joeperry on May 28, 2013, 03:35:56 PM I thinK so, and even if balance is negative Ill do for a long time, because I expect that price of BT will raise next year.
Title: Re: Still money in mining Post by: jmutch on May 28, 2013, 04:36:54 PM BFL? if you invest now expect to be waiting awhile. I've been waiting since last august...
Title: Re: Still money in mining Post by: tinus42 on May 28, 2013, 04:53:25 PM You can also invest in mining shares.
Asicminer pays out nice dividends (40% per annum!) and they have proved to be trustworthy. They also sell their own designed hardware so they don't only get income from mining. Their shares are available at Bitfunder.com, Btct.co and Havelockinvestments.com. To me it makes more sense to buy these than spend the money on a mining rig. Unless you already have a high end gaming PC and cheap electricity. You have to earn back the cost of the rig and the hardware depreciates in value. Whilst the Asicminer shares may appreciate in value (or maybe not). It's the dividend I find interesting though. Disclaimer: I hold several of these shares. Do your own research to see if it is a good investment to make. Both buying and operating a mining rig and buying shares are an investment which you may or may not redeem. Title: Re: Still money in mining Post by: Devnant on May 28, 2013, 05:09:49 PM You can also invest in mining shares. Asicminer pays out nice dividends (40% per annum!) and they have proved to be trustworthy. They also sell their own designed hardware so they don't only get income from mining. Their shares are available at Bitfunder.com, Btct.co and Havelockinvestments.com. To me it makes more sense to buy these than spend the money on a mining rig. Unless you already have a high end gaming PC and cheap electricity. You have to earn back the cost of the rig and the hardware depreciates in value. Whilst the Asicminer shares may appreciate in value (or maybe not). It's the dividend I find interesting though. Disclaimer: I hold several of these shares. Do your own research to see if it is a good investment to make. Both buying and operating a mining rig and buying shares are an investment which you may or may not redeem. Thatīs exactly what I was looking for. Thank you so much! Title: Re: Still money in mining Post by: grosskate on June 11, 2013, 09:52:19 AM i think in about 2months i ll switch to litecoin mining with my GPU. There would be no point in mining bitcoin woth gpu anymore. Thanks to the asics.
Do you guys know of a cool gui litcoin mining prog ?? Thanks Title: Re: Still money in mining Post by: cryptofreak on June 11, 2013, 10:05:19 AM Mining is forever.
Title: Re: Still money in mining Post by: finalmente on June 11, 2013, 11:28:13 AM Litecoin mining is the way to go right now (or some other alt coin such as FTC). Right now a 7950 will mine about 1 ltc a day depending on pool luck and cost anywhere between $0.20-$0.40 a day depending on how much your electricity costs and whether you've undervolted the card to gain better hashes/watt. Even if you were to mine Bitcoin with the 7950, you'd still end up with around 90% of the value (converted to fiat) compared to Litecoin at today's difficulty according to dustcoin/coinwarz.
Title: Re: Still money in mining Post by: b!z on June 11, 2013, 12:00:09 PM i think in about 2months i ll switch to litecoin mining with my GPU. There would be no point in mining bitcoin woth gpu anymore. Thanks to the asics. Do you guys know of a cool gui litcoin mining prog ?? Thanks I think performance > appearance when it comes to mining. |