There are many other subforums here besides the mining forum.

Most of the people with huge stockpiles of gold probably never picked up a pick.  To earn BTC you do not NEED to mine, and presently it is better to earn them through business than mining (unless you live next door to KNC lol)

Mining is not profitable in the sense that you get less BTC from a miner mining until infinity with no electricity costs than you would if you had bought BTC outright.  This is only because the miners are overpriced by the ASIC monopolies.

A 6870 was making 1 BTC a week for me in 2012. To do that now one would need more than 1.2TH, which even at the cheapest $3/GH would cost you $3.6K USD.

Only people who have already bought eq and are mining may come out ahead.  People buying preorders now are hoping every other company will have a BFL/Avalon failure.

They're only selling for more in fiat.  I guarantee they're worth less BTC now.  Would have been better to buy BTC

Yes you can add more.  Buy USB 3.0 to PCI slot converters and you can chain 128 of them...



What is this crap

After 8 months I had to take down a LTC rig today for cleaning out the fans - amazing how useful a leafblower is - the hell with compressed air    It did have 2 pauses in mining (switching from reaper to CGMiner and then again switching pools) but the machine didn't actually restart - Win 7 x64 SP1

Word of advice - if you don't know how to write your own VB scripts you probably can't cover up your tracks well enough to stay out of trouble.  It's not worth stealing from your workplace unless you are looking at getting fired and don't mind the threat of incarceration.  There have been several threads posted on here similar to this.  One where an idiot posted his a ref to his real identity and he lost his job and was charged (couldn't find the archived thread).

Those smart enough to cover their tracks could probably make more $ running a botnet or creating a real crypto business.

Well tell me your PSU model and what CPU and drives you're running - I can tell you if you have enough clearance.

I vote scam.

Check with your CO first, I have a few marine friends who got into some trouble with that... 

Check and see if your PSU can put out 400W on the 12v rail(s).  If it can then you can add 1 more.  If it can't then no.

If you don't understand that, then you need to read more on the forums or use google before making a purchase.

Either buy coins or set up a business where people can use the coins.  Some of the wealthiest coin owners are the BTC entrepreneurs... more worthwhile than mining.

Def use a T10 and get rid of those useless grills - will breath a lot easier.  You can also repaste it and should get better temps.  Lightfoot (pm him) might be able to help you with the nonfunctional engines.

If it's a newer mobo I've had problems with PCIe Gen 3 slots.  Drove me nuts because it worked with one 7950 but not another (only to find out one of the 7950s was infact dead).

Try going into the BIOS with a good card and set to Gen2, or maybe update the BIOS.

For the time being BTC mining has left the hands of the basic man and migrated to the big commercial endeavors.  Hopefully by summer of 2014 there will be more reasonable equipment options where a normal person spending $300 or so could have some meaningful contribution and maybe a small profit.

LTC mining is profitable at this moment because LTC shot up from $2 to $34, but this was done on relatively small volume.  There are few people in the LTC who alone could have driven up that price (just from their BTC profits).  I mine LTC currently, but I do have an expectation that it could very easily fall back to $2 per coin or even less.  If you're tech capable then you can build a LTC rig and mine with it.  Problem is all the video cards world wide appear to be sold-out (not even joking about this).  It will be about 2-4 weeks before restocks and still the price will be high.  If you don't actively sell the LTC at the high price you might be holding a $2500 mining rig and 25 LTC worth $2.

Given these 2 constraints, I would just buy the coins.  You could always use the coins to purchase the mining equipment (oh my god, use the currency as....wait for it.... currency!) 

Most of the people viewing this subforum are new users.  Their mindset is still in the "well if something happens I'll go to the police" mindset.  The beauty of bitcoin being free of regulation also harbors it's capacity for evil - scamming.  I've been there myself having lost $ to my own greed with Pirate@40's ponzi - losing an amount that would make noobie's head spin.

Everybody should consider what happens if the person that they are trusting runs with the money.  Of course some trust needs to be had with any transaction or nothing would ever get done in this world - but high levels of trust need to be earned.  Would you put $1k of money online onto a website that claims to be a bank instead of your "trusted" Chase, B of A, Citibank etc?  Probably not.

I trusted another user named Hashking because he had a good track record leading up to his scam.  He had a solid 6 month history under his belt.  I lent him 41 BTC and even though he personally guaranteed it he defaulted on everybody's money and ran.  He admitted to basically gambling it, and then he bought more equipment to mine with.  He's probably quite rich right now with other people's money.  I still need to find a lawyer to go after him (I have a couple other lawsuits I need to take care of before).

And what is the consequence to CEX if they run with people's wallets?  It has happened time and time again in the history of BTC.  It's one thing to use their service, but do not use their service as a piggybank.  Many new users learned this the hard way with 50BTC.

All we need is a hacker and then the "Oops, we lost everybody's coins" excuse.

Please don't teach people bad speculation.  It never makes sense to mine at a loss.  The only to mine the actual coins at a loss would be if you cannot buy them (ie have no access to exchanges).  If you think the coins are going to go up, then it would be cheaper to buy them.  If they go up next year it doesn't matter whether you mined them or bought them (other than maybe a feeling of satisfaction).  If you mine at a loss you're spending more $ than you need to (assuming you have access to an exchange).

+1

If you guys really want to do virtual mining on a large scale (ie you have lots of $), do it this way.  Buy a large order (either preorder or existing hardware for sale) and have it shipped to a colocation center.  There are several members on this forum that have made this their business (with contracts, insurance, security, etc).

They will handle all the messy hardware and maintenance, you just collect the mining proceeds.  Should you ever wish to sell it just transfer the contract to another interested party.

Yes it is more work.  But in this world if something seems too good to be true it is....especially with mining.  If 0.07BTC/GH/s was a good price then everybody would be buying it.

No free BTC lunches except for scammers.

LMAO at all the whining on Slickdeals about litecoin miners hoarding cards