bitcoin is not a company that can be put out of business
Yes, but the exchanges, which are an integral part of the Bitcoin economy can be. Depends on the country. Russian sites for one, are notorious for hanging around for years. Only political favours or large payoffs from other countries will make the russian authorities give a shit about sites hosted in their country, legal or not (And BTC exchanges are currently legal). Many 'grey area' sites pay money to cops in these kind of nations so there is low incentive for interception |
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To create some perspective a proper gpu at $150 will give you 300,000khash/s. Even then it will create half a bitcoin per day, & less when difficulty rises.
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Depends on your definition of late. On 1 or 2 ordinary graphics cards like 5770, probably. On 1.5ghash or more I say go for it at the moment.
Though if price doesn't keep up with rapidly rising difficulty, even 10ghash/s wont be profitable in a few months so difficulty will probably drop at some point either way.
You can buy a rig now and put it dormant once it becomes unprofitable, wait for BTC value to rise or difficulty to lower.
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It's going to head up anyways due to difficulty increases. About $19-$21 seems right for Friday given the jump from ~440k to ~560k
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Damn. Didn't notice that, must be a record since the 17 second round about a week ago.
Prob. just bad luck then. First come first serve on shares.
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It's not that you're a new member. It's paypal that sets off alarms.
People like you have every incentive to initiate chargeback and blame some 'hacker' for using your account to perform some "illegal shady purchases of something called bitcoin which I know nothing about"
Find another payment method. I'd go even as far as saying people who offer to buy large quantities of BTC for PayPal are instantly scammers.
That's how it works in my mind right now. I'm not selling for PP even if you paid me triple the spot rate. Being able to withdraw zero of that isn't much use.
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So less than yesterdays pizza financed an aircraft today. This is what i call a sound currency.
Son, I bought a cup of coffee back in 1947 for 5 cents. Money meant something back in the day. Now you get to pay 4 damn bucks. Where's my back medication. |
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6990s were sold out before bitcoin became a craze. They were a limited production line top end card. They're also a terrible $/hash buy for mining.
Exactly. These are gaming cards and probably a very, very small minority has been purchased for distributed computing. Not to mention they cost $700 to $800 for about 600-700mhash/s, you can get two radeon 5870's for $300-$400 bucks at the cheapest & achieve the same or better. Wha? I get 850 mhash/sec on stock voltage on my 6990. It's overclocked to 990 on both GPUs. I could probably hit 1050 easy. And the point of the 6990 should be to have an awesome gaming rig AND hash. But I don't think that's the case for a whole of people. But it's horrible value for the money. I have exactly one; Due to using a massive discount at a retailer. Otherwise it would've been wasted cash more or less. Hell, you can get same hashing performance for two unlocked 6950's and those cost maybe 50% or less. |
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Earnings for block #5195 -66%?
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The 20,000 is probably pretty close to accurate, so if the 16M number sold is accurate why has there been such an impact on the video card market? You can't reliably find 5850s, 5870s, 5970s, or 6990s in stock anywhere, and even 5830s are going. If we're only .1% of the market, it shouldn't have had that big of an effect. Does that mean there is like 50k G/hash in cards purchased recently and still waiting to come online? It's possible, and I know I'm part of it since I bought 27 cards in the past week  Is the 20,000 miners or cards sold to miners? I personally have bought around 30 cards so far, other people who look at this as an investment are buying 5-10 without much hesitation. How many of the 16,000,000 cards are sitting in stores or in prebuilt computers waiting to be sold? Most are sitting in gamers' PC's. They purchase the vast majority of all graphics cards. The cards are also largely optimized for gaming; If they were optimized for OpenCL (besides it just being another feature) instead of gaming we'd be seeing double hash rates or better. |
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sry about that, here's a screen beyond that I'm not sure there's any real way to say, I don't think there's a reliable way to say how much difficulty will increase/exchange rate will change etc.  lol I'm new to this as well, if I understand correctly price has usually gone up to match difficulty so hopefully it won't matter much The estimate is safe as long as price keeps up with difficulty. So around $1.6k per month is reasonable. If it doesn't, you have to adapt or quit mining. But I suspect your rig will make at least $1k, more if price will rise. |
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I have to agree with the XFX assessment above, unfortunately.
If you run rigs away from home, great. If not, they are extremely loud. They are louder than 4 other sapphire 5830's combined.
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3 5870's would get atleast 1.5ghash?
Maybe at ridiculous overclocks that aren't stable for 24/7. I do run some 5870s in my miners but they are all within 5-10% of normal clock range. Not even nearly 500ghash/s. Somewhat better than 5850s though (but not enough to warrant the price difference+ power consumption) 5830's and 5850's are ideal. |
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Look at how quickly all the prices shot up.
Look at how quickly difficulty has risen. Then tell me with a straight face BTC value does not react to difficulty of acquiring new BTC. Thanks and bye |
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6990s were sold out before bitcoin became a craze. They were a limited production line top end card. They're also a terrible $/hash buy for mining.
Exactly. These are gaming cards and probably a very, very small minority has been purchased for distributed computing. Not to mention they cost $700 to $800 for about 600-700mhash/s, you can get two radeon 5870's for $300-$400 bucks at the cheapest & achieve the same or better. |
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Paypal is as good as shit on the internet if you don't buy from a verifiable vendor (like eBay seller that has thousands of positive feedback).
It can be chargebacked too easily; I wont sell BTC even at double the spot rate to an unknown with a PP address. Even if it has a few dozen rep (some people don't mind if they can rip someone off good enough).
Wire transfer or WU is the way to go. Anything that can be chargebacked is simply stupid because it's inherently ultra-risky for the seller if neither party knows each other or has assurances of honesty.
Add on top of that the fact PayPal can legally freeze your account any time they want & they don't like Bitcoin, you would be stupid to use it for BTC transactions.
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If you are in profit already then it's pretty simple:
When cost of mining 1 BTC outweighs cost of electricity, drop out of network. Unless you trust BTC enough to 'invest in it' by paying now and expecting price increases later.
Before that happens, there is nothing to lose even if difficulty keeps increasing. So far price has too.
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I just bought parts for yet another mining rig. I did this calculation for 1Gh/s at current difficulty and assuming a 100% increase in 20 days : days -
0
20
40
60
80
100
120
140
160
180
200
220
240
260
|
| BTC/day -
0
1.77
0.89
0.44
0.22
0.11
0.06
0.03
0.01
0.01
0.00
0.00
0.00
0.00
| power $ -
0
91.2
182.4
273.6
364.8
456.0
547.2
638.4
729.6
820.8
912.0
1003.2
1094.4
1185.6
| BTC Total -
0.00
35.4
53.1
62.0
66.4
68.6
69.7
70.2
70.5
70.7
70.7
70.8
70.8
70.8
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If I am even close to calculating returns, a 1Gh/s rig will only net about 70 BTC ever. Can someone verify? Does this mean a 1Gh/s rig must cost under 70BTC right now to be feasible. Otherwise just buy the BTC. Difficulty is dynamic. When mining becomes unprofitable for even ASIC farms and botnets, difficulty will go down in a linear curve with thash/s of the network, until optimal amount of blocks are generated. |
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Mining is currently constrained by the supply of ATI cards. Browser mining, FPGA's or ATI increasing manufacturing of older products could change this, but right now I am betting about 600,000 at the most.
As much as I like the FPGA/ASIC idea in theory, you are right, this is all GPU, and that won't change until either the BTC price stabilizes for 12mo, or the capital expense for these techs drops to less an order of magnitude above ATI cards, which does not seem likely. Nobody in their right mind would invest tens of thousands of dollars to build low ROI hardware to play in a market this volatile, especially given that it might become illegal in some large markets in 6mo. With GPUs and ROI around 1000%, not so big a risk. Does anybody have numbers on the number of ATI HD GPUs actually produced? What would be the hashrate and relative difficulty if every one of them was put into service? I would wager that that number is a hard limit at least until a new line of next generation GPUs comes out. 5xxx cards have been out of production for ages. Sapphire recently released some 5850's and 5830's under the 'Xtreme' brand but those sold out within weeks due to low pricing. 6000-series cards are still out in the open as they "just" came out, but costs are pretty prohibitive compared to mhash/s. 6950 and 6990 are the only viable cards tbh. |
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in 10 days 1 BTC will be 25$  But then in 20 days 1 BTC will be 0.25$ BTC is overheating now and we don't need to break 20$. In 20 days difficulty will be nearing a million. There is no such thing as "needing" to break a barrier or drop down in price. Supply and demand of bitcoins will dictate a fair price. The fair price at the moment is around $18 to $19. |
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