Bitcoin Forum

5 minutes ago I went down to the mine and powered off each of my 6 GPU miner rigs.
I ran the numbers, with power at .087 per k watt hour,
 12000M hash speed,
current low BTC rate 94.06
Diff: 21,335,329

I would make 157 USD per month.
But BTC may or may not drop, then after BTC exchange rate fees, pool fees, transfer fees,,
GPU mining is not worth it anymore.  Not for 157 and change for the heat and stress on the equipment.


LITEcoin does not appear to be worth mining. 

Has anyone ever tried renting an apartment with "free utilities", moved in a bunch of miners, and used up free power for a while?

I guess it is time to sell of my GPUs.
Yes they did pay for themselves.  I got about 52BTC mining with them.
Paid about 5k for the gear, and paid only 700 in power so far, (Will pay another 900 tops as bills catch up)
Then after I sell off the used gear I made some profit.

you can still wait with btc sale when the price will be higher to make a profit.

Thank you for powering down.  More for me.

litecoin mining is still profitable.

i have no clue about litecoins, but bitcoin mining is still profitable, too.  it's something like .21 or .22kWh is break even point.

but the thing of it is, you aren't figuring in the value of your time and equipment loss/depreciation. 

i don't consider it profitable at .06kWh, but I've been in the process of selling my stuff for a while (especially the 5xxx cards).  in the meantime, i keep it running... in part because I dread cleaning out the room where I've been running most of my stuff for the last 18 months

Doesn't take into account future price rise of BTC. If they are worth $500 in a years time then is your hardware still profitable? By the way $0.087 /kWh is low, it's $0.28+ where I live...

If they are worth $500 why bother investing in GPUs and not buy BTCs?

If your machines are not efficient or your power is over 15 cents a kwh it is probably best to stop and sell the gear now.  You might be making a small profit but you are putting wear on items you could sell now.  If you think BTC is going to rise, sell the gear and buy BTC. 

well.. he's almost right. it'll be dead by the end of the year for sure

Not all of us area able to put mass amount of instant cash into hopes and dreams. A small amount of electricity cost is a lot easier to cope with. haha

But if you put the same $ for electricity into buying BTC, you are supporting the BTC economy instead of the local utility.  It is more likely the price will rise under that scenario.  If you make a profit, that is another story, but at break even you really should not be doing it that way. 

It's definitely approaching lights off for GPU mining. The difficulty is going up very rapidly and it's just not economical any more. Investing in new GPU hardware has been stupid for a few months, GPU hashing should be totally dead by the end of the summer.

Alt coins are also dead, Litecoin is the last to go down but it's going and will be gone soon.

Long story short, ASICs are quickly becoming the only economical option but at the prices being charged by most vendors you may still have issues making back what you pay for them. If someone was mass producing at BFL's prices maybe, but then every hash would be worth less overall. As for me I'm thinking that my best option to just to get out of the business. This situation combined with government crackdowns on Bitcoin-centric businesses mean other businesses are more profitable.

Also, if you're thinking of the future value of Bitcoin it could be $0. It's a speculative market and that makes it very volatile.

Very interesting input from everyone.
Even the guy thanking me saying "more for me!"  My 12G/h does not effect the overall speed of the BTC network and it is silly for him to think that is more for him.

My mining was profitable and I mined until it was no longer profitable.
BTC value is dropping.  If it goes above 130 I would stay in it, but it is not.
Transfer fees suck, ASCI preorders take forever, it is a fad that I do not see lasting unfortunately.

At this point my equipment is worth more than any amount of BTC I could still get.
1 BTC every 4 days is not worth my time if it is under $100.
Nor the stress on the gear, and monitoring GPUs which like to crash.

I could learn about Hashcat!

But I'm selling gear if anyone needs anything, I have... everything.  lol

It was fun and I will enjoy trading BTC with people for stuff.
I spent all mine on USB eruptors which I intend to sell on ebay after I get them.

Why do you say that? Litecoin is currently ASIC proof so there will be a lot of GPU workers going there over the next few months, also it is small but steadily growing, much like Bitcoin was. Once MtGox starts trading LTC we'll see a lot more market validation.

Litecoin is dead.

MtGox will NEVER start trading litecoin. Yeah, I know what they said. But it will never happen.

Miners moving to litecoin will help kill litecoin faster as litecoin difficulty will rise and miners won't make their money back.

People holding devaluating Bitcoins don't want to feel like they're losing money to the rapidly growing Litecoin

The 24 hour volume for LTC is well over 1M USD right now (MORE than the 24 hour volume of BTC/USD at mtgox) and the LTC economy seems healthier than ever

Litecoin Is dead? Do your research....

First came the telephone, and it's faxing, dial up connections and basic internet, all was good in the world.
Next came a faster network of broadband and fiber....

First came bitcoin.
Next.....?

Litecoin may not be asic proof for long.

Right now, using GPU mining, LITEcoin is LESS profitable than BTC.
BTC is already not profitable for people to get into.  GPUs cost too much, use too much power, and don't earn enough.
They earn even LESS money than BTC. 

I checked the exchange rate for Litecoin with my mining power, and I make more mining BTC.
Yet I shut down my miners because it isn't enough to bother with.

Therefore Litecoin was dead before it ever went mainstream.  Much like HD-DVD back when that was competing against Bluray disks.

Bitcoin was in the news, on TV, on talkshows, mentioned by the black market.
Nobody cares about Litecoin but people that don't yet know that they are burning out their CPUs and GPUs on a dying currency.
Sure they can make $10 USD a month mining litecoin, but that is foolish when they could make $15 a month on BTC currently.

Overheating my house and burning up my GPUs is no longer worth the little $150 I get after the power bill.
Anyone doing litecoin is terrible at math and or accounting.

Litecoin is totally dead.

BTC is alive.

GPU is not completely dead for mining as GPU is a form of ASIC, specialized on Vision with little accelaration on calculations generally.

Silly rely on GPU is completely dead. You better be parasite for this game. Outsouring.

During the step, my equipment only provides basic start , I have to find a way to copy 'me' like Preserving the same signal infinity times...

Whoever thinks and says litecoin is dead needs to really look at the charts, at the current rate it will be $20+ USD by the end of the year.

As of this post Litecoin is at $3.

179% More profitable then Bitcoin....


So many people Scaremongering, Am tired of it.

But by all means, don't mine it, all the more for me.

Personally i hope everyone sells thier GPU's ..... and i can pick up for cheap.

Charts?  Aka speculation?  Why don't you take every penny you have and double 3 times on lite coin while you're predicting the future and inventing numbers.   Litecoin mining with the same miners as btc mining earns LESS income than BTC mining.
Nice way to twist a higher profit by claiming charts provide this greater percentage a year into the future.

Google Bitcoin calculator.
Open a new tab.
Google lite coin calculator
Open a new tab
Google btc exchange rate
Open a new tab
Google lite coin exchange rate.
Enter the same hash power for both
(Remember that 1mega hash in btc equals 1k hash lite coin)
Do the math
Then reply back

Wana buy mine then?

I'm selling all of mine as well, hit the same wall where elec vs. difficulty vs. hashrate just didn't add up anymore.  F'ing summer pricing.

I've put them all up on eBay, however, more gamers shop there and I honestly don't feel bad about two months of hyper-cooled constant use.  Realistically I'm unloading 3x 7970's and 1x 7950, all used for less than two months, and replacing them with the usb erupters for the time being so I can continue mining (flip the investment, net zero cost to double hashrate and halve electricity).  Running some of my older hardware into the ground because 5x and 6x have basically zero resale value now, but I can easily plug an anker with 9 of the sticks into my home server and not notice a difference except my 24/hr mining rate looking shinier. ;) 

I agree, GPU mining across the board is basically dead unless you have free power or believe so much in the long-term power of BTC that you are willing to net negative on it for now.  And alt-coins are all bullshit, just copies of BTC.  Their only real value is to trade for fiat or BTC.  If there is going to be another currency that catches on like wildfire in the spirit of BTC we likely haven't seen it yet.

These threads usually receive one of two responses:

"Thanks for shutting down, more bitcoins for me!"

or

"Mine now, sell when BTC is worth more USD$"

The first scenario is interesting as unless the respondent is mining with ASICs he or she is in the same boat as the poster.  Mining at a loss.  Not yet perhaps?  Well they soon will be.  Free electricity?  Someone, somewhere pays.  If the rented apartment comes with 'free' electricity don't be surprised when the miner is booted out as a mining farm was not reasonably foreseeable by the landlord.  Now mining becomes expensive when they're forced to pay to move into a new place or pay increased rent even when they stop mining.

The second reply assumes "when", not "if".  Dangerous thing to do when predicting the future.  If the respondent is so sure that bitcoins will be worth more USD$ in the future, why go to all the trouble of mining when you can just buy bitcoins in anticipation of their increased value? 

GPU mining for many is now where CPU mining is for all.  More people are joining the GPU abandonment ranks every two weeks or so.  It's a one way street.

Is it really cheaper to buy bitcoins than to mine them with GPU?

Sounds to me like it's working out. But I'm a speculative miner as well. I don't mine LTC for today or yesterday's price, or at 30 cents. Guess how profitable those months of LTC are looking now? Mining isn't always about today..  The cost of my power consumption is minimal, it is something subsidized into my entire bill and I hold coin. Result is positive. Like others have said though, there is risk involved. But you're mining crypto...

why would you mine if you are sure the price will raise and you can buy much more cheap coins now?

Not arguing about GPU mining these days, but I can still make about 295$/month with 10GH (at current numbers).
(probably more if I undervolt my cards even further...but I doubt it's worth the effort for just few more weeks)

Watch how popular mining becomes when the USD crashes later this year and bitcoin goes back up to $160

I could do both. Mind blown?

Everybody can do both. The question is what is worth of doing. If you believe the coins are undervalued and it is profitable to mine only because they will raise in value, you better sell your mining rig and buy more coins now (while they are cheap).

Somehow I disagree. I'm sorry. My miners work for me and I will continue to mine with GPU all manner of coins, BTC, LTC, TRC, PPC, or whatever is needed for diversity and ability to continue desiring to mine. Maybe that's why you don't mine? I couldn't call it. I rarely inject as much as I use existing to build or mine! The better BTC is the one I didn't pay over my mental market for.  I like crypto as a long, I am encouraging crypto online and offline. I spread information, I will accept it, I want it to succeed for a variety of reasons. Mining is additionally another way to support crypto without profit in mind, as a side note.

Bitcoin mining is 50% less profitable than Litecoin mining right now, see coinchoose.com

If you don't mind wasting time on rebates;

http://www.newegg.com/Product/Product.aspx?Item=N82E16814127726

is a really good deal on Newegg right now.  Card (radeon 7790) is about $80 after selling the games and doing the MIR.

He is right, for me anyway Bitcoin mining is dead.

Using dustcoin to calc my set up of 1200mh/kh 600w power and 0.23c power costs.

I in fact lose $19.70 a month, with litecoin I am making $33.90 a month.

So in a sense he right about Bitcoin, go low powered hardware AKA asics or it's not worth it unless power is free. However he is wrong about litecoin, it still has plenty of room to grow into.

Please explain to us how you think that litecoin is more profitable than bitcoin?
50% is such a nice even rounded number, that I'd like to know how you mathematically reached it.

That website does not compare BTC to litecoin.

I used a litecoin calculator and found that it earns less coin and less USD per GPU.

I am NOT using "room to grow" speculation.
Speculation is guessing.  Guessing is not fact.
Lets talk about today, not the hypothetical future.

Very nice for you.
I am not overclocking otherwise I'd get more, but I'd burn the hell out of the cards or the room which is already super hot.
Windows and doors open 24/7!
My $157 quote is after the power bill (estimate)

I am not overclocking, just undervolting and I pay 0.17 per k watt hour.
Temps around 55 C.

Sorry, I just don't get it, If the rigs have paid for themselves and you (were) making $157 after bills, Then where is the problem?
My threshold is tighter, But I still make a profit, I am not going to turn off until I end up spending money in running rigs, Then I would just buy BTC and sit on it.

If you're only interested in talking about "today", you may very well not mine. Are you going to invest, get ROI today? Anytime near today? Ever before? No and no. So...

The problem is the dropping value in BTC, below $90 today.
Also the HEAT.  Hottest day of the year, and I already have to open all doors and windows 24/7.  Fire hazzard.
Running GPUs 24/7 is wear and tear.
If I burn out one GPU, and I am only making $157 per month, I just lost money because each GPU is worth more than that.
So it is not worth the risk of burning out 1 GPU.
Also the discomfort.
Also the dropping BTC.
Also the labor of monitoring miners and rebooting them when they are slow or go offline.

Congradulations to you for riding this out until the end.
I prefer not to lose money.

If someone has any info on free power.. I would run 1 of my miners for them!

Ever considered solar or other alternatives if energy is one of your chief concerns? Though it sounds like there are a lot more things about mining that bother you, understandably so.

If you are going to support the false information that was offered "50% less profitable" then you are a fool.
If you are not going to read what I said, you should not attempt to insult me.  (I began this thread saying I have already earned more than my ROI.)
So lets talk about my ROI in the past, not the future.  Nice attempt to sound like a big shot with your buzzwords but you just blew your facade but trying to sound cool.

Bottom line, you are avoiding the FACT that today, and tomorrow litecoin earns LESS than BTC, and BTC is dead to GPU unless you have free power or want to risk burning out a GPU and then go into the negative.
That is to say nothing of ROI, which is long dead for GPU mining if you are thinking of buying GPUs today.

On another note, I noticed you claim to mine multiple coins.  A foolish speculative play when you can clearly see which is the better, mine that, and switch to the top coin of the day as needed.
Instead you waste your timing mining dead coins?

 Yes and yes?  So....

(PS:  Learn to read at least the first post, and keep your story straight so you don't get called out.)

You get really fired up over very little. I think you looked a little too far into what I was saying. I was simply implying looking at a coin price today and expecting anything over time on that particular number when mining is not something I would advise, which isn't what you're retorting to.. Sorry about the "buzz words".  

In the event that you were actually interested in corresponding, yes, I do mine a variety of coins. In fact, I haven't specifically mined BTC for quite some time as a primary coin and that has turned out well for me. However I don't consider it dead, rather a fallback in the event other coins are not profitable for me, as they  sometimes are not. Other coins I will continue to mine as "fairweather" (edit I mean the opposite), like LTC PPLNS, but I have other miners I switch around based on RBPPS systems generally speaking.  Not sure what you mean about mining "dead coins", to which coins are you referring to? A lot of assumptions! Just ask, the information comes out easier. I have more than one miner.

I once read a threat where these guys suggested getting a NASA engineer, or a nuclear engineer for some job....
It took about 10 posts before someone called them out for being stuck up snobs to suggest such an unreasonable overkill solution.  

If I had 10,000 K Watts of solar power.....
How much do you think that solar power equipment would cost?  
Given the smallest most optimistic rate of difficulty increase and ASIC network speed increast,
Do you believe that would make ROI, ever?
No offense.  I think you were being genuine when you suggested solar.

I wonder if anyone has had experience renting "free utilities" rental offers, and just using up all that power?
A lease with utilities included seems plausible.

To me, LTC is past dead and some people just cant do the math because they are stuck on their dreams of the future of LTC.
BTC is alive to ASIC, and alive to GPU if you are confident you wont break a GPU in the process.  If you do burn one out, you just lost money you will never get back at this rate of difficulty increase and ASIC taking over.

Solar is only viable I would suggest if you receive free GPU, free mining eq that consumes power (more gpu, etc..), etc. In other words, if power is what is keeping you from profiting. I wouldn't suggest new hardware with investment in solar, unless purely speculative mining is taking place. The new ASICs are too low on power for it to be a concern for SHA256 coins, but that's where Scrypt comes in. I plan to use my old GPU farm mostly toward LTC and eventually on solar if the remaining SHA256 become completely unprofitable. But it's not about mining X coins per day and liquidating, as a miner, for me, watching and playing the market is important. When you convert TRC/PPC/ or whatever coin to BTC is important. Or maybe you don't want to convert that alt, like LTC.

As far as the cost, I did recent research and it's not as expensive as you would imagine, particularly if fabricating yourself. I estimated several thousand dollars would set me up based on generic costs of certain cells available, but I'm still looking into it as I have a lot more on my plate and the coal company can provide me for now. But I have two very nice east and west roof tops.

However, remember the benefits of solar go beyond mining.

If you actually have to spend time on that, you are pushing your GPUs too far.
They should be able to stay stable for at least 2-4 weeks.

As for the fact that it's no longer worth it, I agree.

Itt maximum jimmy overrustle

I still can't understand how you are failing to grasp this.

Say I have 1x 7950. It can achieve 590mH/s mining Bitcoin or 650kH/s mining Litecoin.

This currently equates to 0.139 Bitcoins per day (currently $1.24 in USD), or 0.777 Litecoins per day (currently $2.31 in USD).

Therefore Litecoin is 187% more profitable than Bitcoin on a 7950. Where you are getting this information that mining Litecoin earns less than Bitcoin I do not know.

THANK YOU for posting NUMBERS and not speculation.
THANK YOU.
This makes intelligent conversation based on metrics that are real.

First a 590Mh miner does not make 0.139BTC  it makes 0.0139BTC.  However my calculator puts that at $1.19USD so your main point is still valid, the USD money in the end is about what you said (with the dropping BTC value from the time you posted until the time I posted).

I get 650Khash = .77 LTC (2.05019 USD)  (also dropped from your post time to my post time)

So yes that would appear more profitable!
You are right.
But how do you get 650K/hash when it was 590 M/hash?

Is there a mining rate converter somewhere?

Sorry I appear to have missed out a .0 on the Bitcoin amount. 0.0139 is the correct amount.

In my case based on personal experience, using a 7950 I have never been able to get above 600MH/s stable mining Bitcoin. 590MH/s stable can be achieved with GPU engine overclocking. The same card (Gigabyte WF3) flashed with F43 BIOS does 650kH/s mining scrypt on stock clocks.

Funny, I opened a LTC calc, and a BTC calc, entered 600mh/s BTC and 600kh/s LTC (roughly what a 7950 will do on either coin give or take a bit).

BTC= $1.30 per day
LTC= $2.18 per day

Seems like LTC is better to mine. Maybe not quite double, but still considerably better.

You can also just look at https://coinotron.com to see how a few different coins compare in mining value.

Have 2 5970 that are mining since 3.5 years now.. still running fine, stable and hash some satoshi.. I've no real incentive to put them off at a 0.08$/kwh power cost !

All scrypt currencies need some RAM (not only 2 GB). You cant just convert because it depends also on memory clock speeds, system RAM, etc...
https://github.com/litecoin-project/litecoin/wiki/Mining-hardware-comparison

i have 83 7950s and am making over 3x what i pay for electric and i pay £0.14 per kwh gpu mining with alts is the way to go !!

My GPU's are sitting stable at 650-680kh each

My rigs have 7950's installed 6 per rig, stable at an average of 4mh/4000kh mining litecoins.

Using those stats - of 4mh I get -

LTC current exchange rate - 2.71503305

4.7813 LTC per day * 2.71503305 = $12.98 "USD"



For Bitcoins max stable I can achieve is 590mh per gpu.

So that is a total of 3540mh for a total rig.

With those stats - of 3540mh I get -

฿0.08 per day, works out to $7.44 "USD"


$7.44 for bitcoin vs $12.98 for litcoin.


25 rigs at 4mh each mining litcoins.

25 * $12.98 = $324.39 per day.


$7.44 for bitcoin vs $12.98 for litcoin.



As for burning out graphic cards due to overwork in a hot climate, run your air intakes under the house or design a cooling system to make the max out of your building, or rent a basement space/storage in a highrise building and install an air transfer system and heat the lower levels or water for free... the landlords will love you.

GPU mining is currently the only way to mine scrypt, unless you have your hands on one of the few scrypt fpga units, so how can you say GPU mining is dead, it has a long way to go for the scrypt currencies.

Yes I do see your position, I do have the advantage of mining in a cold country  ;D

Where I spend on power for the rigs, I do save in heating.

I believe GPU mining is on its threshold for mining, and wholely depends on individual circumstances now.

I do believe it will end for GPU's, But not for people who are blessed with free power.

so bitcoin price decrease, cuz people are dumping them in to litecoin

That's a lot of work for $7.44 or $12.98 a day!  :D

i have a powercolor 7950 that runs stable at 1250-175, that's ~645 mhash.  hm, probably would get 650-655 at 8 *intensity (sigh)

but i usually run it at 1200-175, 617mhash or so

if mtgox price drops below $80 is when I will turn all my stuff off (or after next difficulty increase).   my time is worth more to me than what i would earn at that point

oh, re: stuff remaining stable for weeks.  maybe if you have all your stuff in an enclosed air conditioned space?  i have to close the window every time there is a thunderstorm (fairly frequent).   regular rain showers would be OK, but thunderstorm with swirling winds and what not,  rain flies into that room from fan.  so, window has to be closed and then room gets too hot, so miners have to be stopped and turned back on later.  also, there are power brownouts every week or so.

The cost of air conditioning during the summer must be considered if you run anything more than one or two GPUs and it is hot outside. Right now for me it is just no good to run the GPUs anymore in Texas, even with a good low rate, because my apartment has an older less efficient air conditioner which I can not influence other than to move to another apartment.

It's possible that maybe nothing else changed, during winter running the GPUs would break even.

I am strongly considering purchasing some "USB Block Erupters" from BTC Guild. If I sell GPUs, which have earned their keep over time, it's like free money to spend on the USB devices - which would seem to use only tiny fractions of electricity. Then I can sell off other rig parts, since I only need one extremely modest computer to direct the USB and Bitcoin client. Seems like a good idea to just let these run virtually forever - until they fail otherwise or become unprofitable due to unpredicted advancements.

I still keep my gaming/mining rig on, cause its paid for by BTC, I love btc...

First I will say that I am a hyprocrite. Because I purchased two yesterday.  :D But I will also say you should not buy them unless you truely have an interest in the hardware ownership and/or coolness factor of 'having ASIC hardware'.

Why? Because calculations taking difficulty increase into account usually show that they will never make back their current cost.

If you wanted to use the money more wisely, or use the 'but BTC will rise in value and I'll be rich and it'll make ROI!!!!111' argument then you would still be better off buying and holding BTC.

I powered down a couple of smaller miners about two weeks ago. I use the computers for other things, and I'm certain the heat will cause lifetime issues with them. That coupled with the fact that they were only returning about 0.0005 daily just made it no longer worth while. Besides, they just can't compete with ASIC miners.

In my case I wanted to replace my watercooled 5970 with something that uses far less power, my last power bill was over $725/qtr although the heat in winter (now) is nice. I realise I might not ever make my money back but I still enjoy mining and the novelty factor of the devices and hardware amuses me. In the future I will probably look at investing in more profitable options though. The fact that you can order the USB's and get them at your doorstep within days is another plus.

Because I only mine SHA-256 altcoins the discussions that can be had about litecoin and other scrypt based coins on GPU is not of significance to me. I loathe the idea of raping the memory subsystem of a graphics card when the SHA-256 coins profitability is almost that of litecoins on a weekly averaged basis.

The heat issues of the USB miners seems trivial to me and I intend to investigate it further when mine arrive. I have dozens of various heatsinks and fans around the place ready to be put to use for silly business like this. I also have access to a FLIR thermal imaging camera or two with quantitative readouts, it depends on if I can book them in the near future at work.

Yeah, LTC is so dead that I only make 60% more than I would mining BTC.  ::)

BTC:
1400MH/s --- 21335329 diff --- $84.26 (USD/BTC)

.03 BTC/day -- $2.77
.23 BTC/week -- $19.40
1.00 BTC/30 days -- $84.26

LTC:
1400kH/s --- 841 diff --- $2.75 (USD/LTC)

1.67 LTC/day -- $4.60
11.71 LTC/week -- $32.21
50.20 LTC/30 days -- $138.06

well, i'm in Tyler, about 100 miles east-southeast of dallas...  don't need an AC...   all my stuff has always been vented from outside air

and i'm turning it all off tomorrow if price stays below $80  ;D

I have my miner running in an unfinished, naturally cool basement. But the recent price decline is becoming more problematic than the difficulty increases.

ok, the price is at $70something, you turn off because you are losing money on the elec. next week the price is $120 and you have lost a weeks worth of mining. I mean, really unless you are cashing out your BTCs as you get them, do you really care about the current price? Or do you feel that the current drop will be permanent? ???

*pulls out magic 8 ball*
*eyes turn solid white*
*a cold gust of wind blows across the room*


"We are entering a dead zone. The Bitcoin price will hit 30 USD and remain at 30 to 20 for months to come. When all hope is lost the price will drop down to 5 USD.

Network hash rate will continue to grow for the next 8 months. In March of 2014 all new money for ASIC will be completely dyed up.  BFL will be the only surviving ASIC company. They still have a 16 month back log but promises to ship in 2 weeks.... then IT happens. the 3rd bitcoin bubble. It is massive. NO! SUPER MASSIVE!! Bitcoins jump in price to 30k USD each and continue to clime untill untill... "

*magic 8 ball explodes in a torrent of blue slime*
*eyes return to normal*


its going to be epic!

The outer limits!

The same argument works in reverse, the value can drop to $20 or less just as easily. It's not possible to predict this totally unprecedented speculatory market.

well, i used to say it was overpriced at $50, so now it's at $65 or whatever and i still think it's overpriced.  but it seems to me like at least there will be downward pressure for the next several months with (some of) these new people to bitcoin wasting money on ASICs (re: the ones that were insanely overpriced) thinking they'd actually profit from it.  so they'll be selling as they make

i turned off all the stuff in my 'dedicated' room (well, ok, i will later tonight), i'm going to wait until next week to take everything out, just in case.  i'll probably leave the stuff mining in my room with the portable AC, at least for another few weeks...  that's only like 1ghash though

I just stick with altcoins ( pxc and ifc have made me 200ltc in 7 days wiith only 2,000kh between them  :) )

OK, all off now  ;D

Not keen for the other SHA-256 and scrypt coins? It could be worth your while because the returns are a little better. BTC will rise again, how often would you usually cash out anyway?

The USB ASICs are actually becoming more of a bargain now, at $65 USD...

Are there any group buys going atm for this though?

Mining other SHA-256 is becoming useless too. With the the price drop of BTC some people started mining PPC with their ASICs  ::) Network hashrate went up to 4.36 Th/s in the last days, making it harder to earn PPC with GPU only.  :-\

Mining Litecoin is also a bad idea now when you don't have a big cluster of GPUs:
http://litecoinscout.com/static/speed-small-lin.png

 With this price drop, I'm extremely tempted to purchase $5k USD worth of coins @ ~$70/BTC and order another 50 sticks for my farm from AM... Having a hard time rationalizing parting with my mined coins lately, and would rather sit on them than spend them.

They haven't raised their price to compensate for the currency drop? I'm suprised. Unless, they were anticipating another price drop and are just doing by holding the same bitcoin price. This is probably going to drive the eBay sellers crazy.

ASICMINER has always sold their mining equipment for BTC. One BTC a week ago, a month ago, a year ago, is still one BTC today.

this price drop makes the 330mh usb miners more affordable  :)

doesn't change the fact that those things can't make roi, if we speak about the same value

Face it, ROI is a myth, an unobtainable dream. Its a good thing most people don't seem to care and are still mining away.

*Grabs his GPU off the donkey drawn cart* BBut it's not Dead yet!!!

what are you talking about ?

my rigs paid for them selves in less than 90 days and I have nearly 50k of gpus  :)

He means roi is unobtainable now.
I'm just glad I got 2 free 7970s and free electricity for a few months out of mining, as it looks like anyone who decides to set up a rig now is doomed.

yea if you get an awesome deal then it may get roi. I mine litecoin and just found a 6950 on craigslist for $100 so I'll mine a bit then flip it on ebay and ittl go for like 150 at least. Hard to find deals like that tho. I have a friend who I am trying to convince that it's not a good time to dump 2400 into a rig. I wish I had gotten into this a year before I did.

Crypto is a speculative scene.  It's all speculation to me.

Litecoin is compared to Bitcoin on Coinchoose.  It does look better to mine Litecoin and convert to Bitcoin than mining Bitcoin directly.

taco dont bother he has BTC religious issues.... Its been pointed out 8 times and still living on the banks of a river in egypt !!

..lolz