Bitcoin Forum

So I have become absolutely fascinated with bitcoin mining operations. I wish SOMEONE would have told me about bitcoin many years ago I would have certainly been all over things in the good old mining days. Im surprised its taken me this long to really come to learn what bitcoin is.

Im mainly posting this to get up to 5 posts so I can start talking in the threads I really want to talk in (Avalon ASIC threads). But from what I have seen am I correct in saying the days where one could buy a ton a high end graphics cards, fill a room and turn a decent profit are long gone? When were those days exactly I guess up until 2011ish?

It seems to me if you aren't on-board (and at the front end) with all the new ASIC processing units, like those from BFL then there is really no hope for you in terms of mining, am I correct? 



I would like to hear peoples opinions on just what is going to happen when the vast majority of these back ordered machines start powering on all around the world. Are small time guys dead right away? If you are lucky enough to get one of the BFL units in one of the latter batches are you still going to be drown out by all those in front of you? Just how bad will it be?

GPU will die very...very soon.  IF you are going to invest in them..id say mine LTC could be profitable once they go up a little in price.

ORRR you could buy my asic preorder ha :)

I would actually be interested possibly!

Im interested in doing one of two things.

1) Finding a decent deal (What they paid + some) on taking someones spot who isnt that far away from receiving a BFL unit.
2) Getting an order of ASIC chips from the SebastianJu batch orders and then send them to Burnin who is making custom boards with them.

Basically whichever results in reviving something the fastest. While the custom board seems like it would be slow, the Burnin guy really does have the capability to produce the boards fast. The slow part would be waiting around in the actual chip group orders =\

GPU minning is not dead

It's alive and kicking!

ATM you can mine alternative crypto http://dustcoin.com/mining (http://dustcoin.com/mining) with decent return

After you mine them you can sell/exchange them and EASY earn 2 times more on https://btc-e.com/exchange/ltc_usd (https://btc-e.com/exchange/ltc_usd)

You can also sell GPU miners on ebay and easy get your investment in hardware back in a month

So after a month you can mine for example LTC and get 100% returns even if electricity in your area it's not cheap

BTW I think LTC will soon sky high like BTC

BTC started at 2009 and in 2012 you can buy it for 10$ now in 2013 for over $120

LTC started at 2011 and then you can buy them for few cents now it's at 3$ and in last few months more and more GPU miners from BTC switch to LTC so price will rise VERY SOON

With 2Ghs/s GPU miner you can mine about 2,5 BTC/month BUT over 3 LTC/day

You can build 2Ghs/s miner yourself for 2000$

You can also BUY 2000 LTC or more now and wait till 2014/15 and made easy money

This is how I do it...

Those are all good points. I need to look into litecoin more. But if it was to follow in the footsteps of BTC then buy up a bunch!
Im now interested in these BLOCK ERUPTER BLADE's 10-13 GH/s I just saw are selling actively now.

:D good joke! a few 5GHs BFL units won't make you rich and the singles are far, far away from being shipped anytime soon



probably the better bet...

see mars - spirit\opportunity.

It all depends on the price of btc Up up up (we hope)

Look at http://ltc.block-explorer.com/charts (http://ltc.block-explorer.com/charts) and scroll down to Mining difficulty screen and Market Capitalisation (USD) - it's the right time to BUY or start to mine LTC

I am planning on using a water cooled setup that I used for research a few years ago.  Four 9800GX2 Nvidia cards (8 GPUs), two quad core Opterons, two pumps, three radiators, three fans, large modified Lian Li case.  I can run it in the winter for free!  It will replace one of the 1500 watt heaters in my home that usually runs 24/7 in the cold months; same BTU's.  It will probably be winter by the time I get it all set up.  Long term, maybe some government subsidize solar panels if they have any programs going next year; a lot depends on the Bitcoin/KWH exchange rate.

Youre not gonna get anywhere with Nvidia cards just so you know.

At this point maybe is not the best option but I think that is still a good option in a long term, you can mine BT but in a month or two would be unprofitable maybe you can get 1 or 2 BTS , after that you can keep mining other cryptho currencies, and with the incomes buying a brand new asic, and sell your cards for 1/2 of the price and make money, in a long term investment keep some BTS for your retirement, and end of the story.  ;D

You may be right, but it is what I got with no investment.  I am not planning on making a living with this.

Nvidia for mining is useless see https://en.bitcoin.it/wiki/Mining_hardware_comparison (https://en.bitcoin.it/wiki/Mining_hardware_comparison)

Buy 3 x HD 7970 which give you 2GHs/s and after you done with mining you can play latest games on it or sell  :)

http://s13.postimg.org/ftqvo7n3r/2ghs_small_no.jpg

mine ltc with your rig , i think is the only viable alt-coin.

YES it's true  ;D

My LTC miner !!!

http://s15.postimg.org/trqa0138b/DSC00798.jpg

GPU minning is not dead but alive and kicking!

Dude is that first card on a powered raiser?  ???

I plan to make a rig like that too, but with 7950 instead. I´m just using one now to mine litecoin and i´m doing about 680 kh with it.

Looks like a Binford 5000 Mining Rig, designed by Tim Taylor himself.

"More Power!!!!"

This is cool!  I did not built a rig but use my game computer to do part time mining.

I believe if you have a good FPGA rig now, in hand, hashing at least 2 Gh/s then it is viable. otherwise, start saving for an ASIC :)

As the ASIC miners hit it will be more difficult to mine SHA-256 currencies with GPUs, but Scrypt-based currencies like Litecoin and Feathercoin are designed to be CPU and GPU friendly because they rely on memory-intensive operations. It'll be difficult to develop ASICs for those. Kevin De Angelis just created wheretomine.com to help people understand what the good mining opportunities are at the moment.

d

I'm happy with my Quad 7950 rig. It's been running over a month now.

http://www.youtube.com/watch?v=O3UsN-c7Zvk

Check it out!

What are the specs and hash rates?

I don't think they're dead yet, however, in a few months I believe it will be an entirely different story. I just bought a few 7970s with a buddy of mine, and we got a really good deal. I already had a motherboard laying around that has 5 PCI-X slots, and own a few solid supplies, so I've only spent money on GPUs.

Also, I don't have to pay for power, so, in my case, I believe there is still a benefit to GPU mining. Furthermore, I believe that I will be able to sell the cards I acquired for more than I paid in 3 months time, which will pretty much guarantee me a profit.

GPU mining is just fine ATM, maybe not the best.. but if your active in your mining then you can make some profit

GPU Mining is almost unprofitable unless you have free energy and the location you don't pay for. Which would be most High School and College Students.

My work colleague and I are IT professionals; have been for several years. I had been GPU mining for 1 year on my crappy GTX 450. Took me about 6 months to get 1 BTC. And then the bubble happened and I really got into things.

I live in Sydney, Australia
I pay for Power

At this current difficulty we are barely making a profit at 4GH/s in about 4 difficulty changes (2months) we will be loosing money.

But its been fun setting up the computers, working out all the issues. We are looking to move to ASIC's because of their speed and power draw over GPU.

So for the next 2 months; if you pay for power in Australia...  .... ..... you will be ok till then.