litecoin is about 3 years behind bitcoin... and really isn't ever going anywhere beyond that - when someone gets around to making an fpga or asic for it it will all fall apart.

From a "mine it and immediately sell for btc" perspective it's possibly to make some money there... I know some guys who are doing it - they're all buying 7950s.


Personally I've chosen not to go that route, I've sold off all my GPU and will stick with btc. After 2 years of massive electric bills, constantly fixing issues and dealing with cooling costs and the incessant noise of a gpu farm - I'm done. I'm glad I did it, but am very relieved that asics are available (with more offerings in the works!) and after switching over I haven't lost any hash-rate... but I have lost the fan noise, annoyance of keeping so many machines running and headaches associated.

Really the only way to get into bitcoin mining right now is to throw lots of money at it. If you really wanted to spend between $50000 and $200000 I'd be happy to advised you on the path to getting it going and actually making money off it.

This.

Also, your assumptions about how this will work are exactly that... assumptions. You dependent on someone everyone not being stupid or malicious enough to legitimately break your system. The primer on how to do it either through buying power or collusion are right there (and both of these scenarios will actively ignore any disincentives).

Bad idea is just bad.

Sorry to shit on your thread - but I have a brother-in-law who did a monster a day for about a year... now he's got severe colitis and is in and out of hospital every few weeks. I wouldn't drink that junk even if you were giving it away for free.

Maybe offer other coke products?

Vircurex runs it's business very professionally. Some people are willing to pay higher fees for the stability they offer. Personally, I've seen them respond quickly and accurately compensate people when there are issues. Even through being hacked and losing balances, they've always returned the btc lost to their users (I assume out of pocket). That level of customer service is invaluable. It's why we're willing to pay slightly higher fees.

I'm actually thinking about taking a nice long vacation to Ecuador.

What might your fees be for arranging the rental of a house and transportation for me while I'm there? I'd like to avoid touristy places in general and use you as my local exchange for btc to fiat. I speak very marginal spanish... so might also need your services as an interpreter.

So I recently bought a selection of 7950s... and ended up returning most of them... except for a pair which I kept (and another pair which I've since sold, because I missed the return date).

The one's I kept were the vapor-x from sapphire absolutely the best card out there.

HIS w/ iceQ is the close runner up.

reference is 3rd best.

Gigabyte is ok... but don't expect to mine with them in a case. These guys need aftermarket cooling on the backside or extender cables so they don't cook whatever happens to be near them.

avoid everything else unless you're planning on watercooling.

Interesting idea, love the concept.

Unfortunately, nothing touches my keys without me reading the source. Unless your program comes with comes with complete source upon purchase that I can compile myself it's a non-starter. I suspect that will be the perspective of most of your potential customers around here.

If you were willing to submit the code privately to me and let me review / compile and post checksums etc - so that the non-technical user have independent confirmation... shoot me a pm so we can talk.

I would agree with the giving cg a scammer tag only if johnblaze gets an 'asshat' tag along with it.

~

A few fine points:

jb posted he would take the 1 btc bet. on the next page cg posted "all bets confirmed."

Is that a statement that all best are before the post are accepted? or is cg simply stating that he's confirmed the bets he's willing to accept and implying that betting is closed?

After this jb starts insulting cg and demanding that he confirm the bet... which implies that jb was under the impression that without confirmation the bet wasn't on.

~

Hair pulling slap fighting histrionics aside, I would have wanted to treat jb the same in this situation... I probably wouldn't have done so... but of course I would have been much more specific in my postings and kept the same format throughout. So there would have been no question about the validity or non-validity of the bet in the first place.

Personally, I chose to read 'all bets confirmed' as the op expressing that he was out of funds to cover bets and that no more would be confirmed... and since he started out posting with a quote of each bet he accepted that only those quoted with a confirmation were valid.

It just goes to show that when you're dealing with money, it's usually in your interests to be as verbose as possible so you avoid misunderstandings.

LoL

You have a list of transactions - just return them to original address.

That being said. Fail Scam only fails completely if fail scammer gives refunds 

It makes sense to replace existing owned GPUs with these on a hashrate basis Especially if you've hit roi on the gpus. The idea is sell the existing gpus while he prices are still good... take some portion of that profit and replace the lost hash rate with 1% of the power draw and almost none of the side costs. So while I wouldn't suggest new fiat buy these things... It does make some sense in the case I've described.

As for me: I just sold 6 of my oldest (and least profitable) video cards as well as a pair of 7950s. Allowing me to then sell most of the parts from the 2 machines that were running them... got a couple of nice 24 port usb hubs and enough of these to replace the lost hash rate... and still make ~1000 usd.

So net gain for me is 1000 usd + ~250 per month savings on electric costs. I don't particularly care that I overpaid from the perspective of 'new money'.
And transit time for the new miners to be delivered... just a few days.

Confirmed - In process of getting escrow arranged.

I should probably pile in on this bet... but really. you'll already be losing enough.

What about aurumxchange not dealing with bitcoin exchanges for awhile? Wasn't this the main way to move fiat between exchanges?

To be fair, I can't seem to sell any of my 7950s either...(but they only hash in 500 - 550 range out of the box) I'm only asking 2.5btc and nobody seems interested. I'd really like to avoid the timesink and price gouging over at ebay... but I may have no choice.

Actually order numbers started in the 1600 range... so something isn't right here. I for one believe you do in-fact have orders... but think with your penchant for little white lies you've probably 'forgot' a zero off the end of it...

Either way - It's pretty hilarious to see you attempting to make such a silly amount of profit off a pre-order.

Seems like you're rather high maintenance - why would I need someone to vouch for me when using escrow?

But, I suppose I could add pictures to the post... later tonight once I get back to the house.

depends on if you're covering shipping or not.

escrow doesn't bother me at all.

To chime in on the original question. The value if you're adding to an existing mining operation (or attempting to build a new one) is negative. If they could be purchased for 0.5 btc that would be much much better, but still not 'good'.

If you're buying them to replace existing gpus that are currently hashing, then they do actually have positive value in the sense of them reducing your electric consumption. Assuming you replaced some gh/s you'd hit roi in only a few months just on the power savings.

However, ~2btc each they'll take almost 2 years to earn back the btc you'd spend on them... and that's a best case scenario.

Now that the price of BTC is down a bit - time to take another shot on selling these 7950s.

I've got two gigabyte 9750. Willing to take 2.5 btc per.

Let me know here or via PM.

I would answer - look at their business models. Based on those it should be a universal non-starter. They're doing exactly the opposite of what the network needs for security (keeping control off all the hash power they produce). IMO - Avoid it entirely because of this.