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The website statistics has not been updated for 30 minutes.
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OP is right. I am a prime example. I got into mining in May'13, having missed the big bubble up but got caught in the big blow down and the current stagnation. Spent $500 in GPU's and have made about 1 BTC thus far. Every 10 days or so, when the difficulty jumps, my mining "profit" takes a dump.
If I had just bought bitcoins with the $500, I'd have 3-4 BTC at least.
But your GPU is still worth about 3 BTC. |
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Looks to me like the higher the difficulty, the lower the btc value in US$. Probably because as the ASIC miners kick in, difficulty skyrockets; and these ASIC miners need cash to pay for their "investments" in hardware, so they dump their newly mined coins as fast as they can, thus flooding the market with new coins for sale, consequently the drop in btc value in US$.
Roughly 3600 new coins are minted each day. Mt Gox trades about 150,000 coins each day. Miners cashing out is a very small portion of the market. But that extra 3600 could be the weight tip the balance. More efficient ASIC miner reduce the cost of mined BTC, so they can be sold for lower price but still profitable. For GPU miner with lower profit margin, they will reluctant to sell at today's low price. |
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The unaccounted for mining power is worrying. That could be the potential source of attack. If the accounted for mining power is increasing faster, that is reasurring. |
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you can get 3 7950s for the price of 2 7970s and only need a good 750w psu ( i have a 3 card rig with 1950kh 720w from the wall )
I think it is better option. 7950 works better than 7850 on LTC, as the memory bandwidth of 7950 is 384 bit instead of 256 bit. memory bandwidth matters on LTC mining. |
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ATM, mining LTC is more profitable than BTC, so the GPU moves to LTc.
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The problem is: does the Windows operating system recognising 10, 16 or more GPU?
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The main reason we use riser is to spread the cards so that they are not too hot and we can use more slots.
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It is worth buying if you can get them at less than 2BTC per GHs and the product can be shipped within the next 45 days.
I agree. |
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Four hours have passed and it is now reading as: 11d 7hr 37m 3s No doubt it will shrink even further to less than 7 days. 2.78% 19339258.00 22356754.47 15.60% 11d 18hr 34m 35s Just an update: WTH? Yea why is that? Does the estimated date change as well? Thats weird.. I did not know that changes also. If you go to http://allchains.info/, you will see the latest estimated difficulty in the next round. |
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If you plan to sell at these dream numbers then I doubt the dream is sustainable.
thats true but we are not talking here about selling bitcoins at all but using them when more merchants will start to accept them. The more merchants will be accepting bitcoins then also they wont have to sell them but use with their purchases. And the higher bitcoin price the more people are talking about it and the faster adoption. And the faster adoption the better because for governments it could suddenly be too big to kill  Agree! |
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It all depends on the price of BTC and electricity. If you are mining for next year's BTC, then mine on.
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Rewards are 1/2 of what they were 2 months ago because difficulty has roughly doubled. It is not likely that difficulty will double every 2 months forever.  But yeah, alt coins. This is exactly right. but even since I posted this thread the total G/hash has gone up another 2500!!  But Why would you not expect the difficultly to continue to rise as the recent rate? There really is not much explanation except for recent asic chips hitting the streets, which will only grow at a quicker rate from now on... Worst part is that BTC value is dropping as asic is showing up which seems extremely ass-backwards IMO  At the moment, there are still lots of GPU in BTC. If the difficulty rise further, then some of them will move away from BTC so the rate of total hash power rise might be lower. |
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When price goes down People say xx sold their thousands of bitcoins so price went down
Stupids, if they sold it, someone bought it too..
When price goes up, people say, someone bought thousands of bitcoins so price went high
Stupids, they bought it because someone sold them..
Now tell me why price goes up down.
If there are more eager sellers than buyers, the sellers will lower their ask prices in order to entice buyers to buy. The price goes down. If there are more eager buyers than sellers, the buyers raise their bid prices in order to entice sellers to sell. The price goes up. I think the key word here is "eager". |
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electricity moves from high voltage to low voltage. it doesnt move 12v -> 12v. It moves 12v -> 0v (ground)
If the +12V at two PSU has slight difference, if you connect them together, there will be current moving between them. |
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Way to pretty much copy paste my guide. <_<
Yes, but this guide has more details. I know you paid 1 BTC for the advice you received. Thanks for sharing the knowledge in your original post. |
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If I can get the miner next week, $700 is a good price.
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I mine BTC just to own some for transaction purpose. I mine LTC to hoard for future value.
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Serious. I live in the USA. I have posted all sorts of things on here, on Craigslist, said things to the person sitting on the barstool next to me about politics and never was I afraid that I would be arrested. If you were to do the same thing in several other countries, you would be arrested quickly. If you have money, in the US, you could pay for a billboard saying anything you want. The issue with Snowden is not whether the US has free speech, which it does, but whether he was justified in revealing secret information about the government spying on its own citizens, even if that spying was not the content of phone calls but merely the data of who one calls. Aaron Swartz was more of a hero than is Snowden. http://about.jstor.org/statement-swartzThe thing is, in the USA, if you protest against the government, some church or religion or corporations, people just mostly really don't care.
 Joking? Snowden is today's hero! |
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These ASICs are too expensive and no resell value. If you want to contribute to the safety of the network to prevent it from 51% attack, then buy it.
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