If your 20,000 USD rig consumes 6,000 W of electricity, it would cost you only 860 USD per month total to host it with me. That’s probably what you pay right now only in electricity, excluding other hosting costs. I will reduce the fee by 25% after the first two months when the operation is up and running, and it’s very likely I will reduce fees even further as time goes by. I can further reduce fees significantly because the electricity in Venezuela is virtually free. Your rig can remain profitable even when it cannot pay for electricity where you live.
your numbers are WAY off. nobody in their right mind pays 860 USD for electricity on the states unless you live in New York, have a family of 6 and 10 litecoin miners running 24/7. Even if you did spend 860 USD on bitcoin ASIC is still more than worth it as your gain from mining will greatly out eclipse your electricity cost as ASICs get more efficient. No risk/reward for me to ship you my ASICs. and 6,000 W is WAY over estimating the cost of 20,000 in ASIC mining power with todays machines. |
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I feel like the vast majority of people are investors right now. Is anyone actually using bitcoin to buy things? If so, what? I've purchased other cryptocurrencies with it, but that's it so far...
costco cash cards, work pants off of overstock.com and graphic cards at tiger direct. https://for-bitcoin.com/costco/ |
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The way i see it Satoshi gave a poor man a free launch...
nice |
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I have been looking into mining for a while now.
Seems there are two kinds of mining operations:
Cex.io where the price per GH is never going to make a profit mining bitcoins, but is at least legitimate (not stealing your money)
and all the others, which show an ROI on GH/s in 50-70 days.
Most of the second type seem to have newly registered sites, a slick/simple layout, unrealistic pricing, a strange inability to demonstrate that they are actually generating ANY coins at all.
Mining lease companies are the new ponzi, imo, and from my personal research it looks like 90% of the ones out there are ponzis.
In before all the "no way man, I gave them 1 btc and they gave me back 0.09 this week so therefore no way are they a ponzi"
I can't even convince some people Leancy is a ponzi so this is hopeless.
i mine and make a very healthy profit although i mine scrypt and n-scrypt. i won't touch SHA even with Satoshis stick. |
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https://www.youtube.com/watch?v=aGmAmJFUvzM&hd=1it was all fun, but bitcoin's adventure has come to an end. Do not hyde this to yourselves, you all know this. All major exchangers are "suspending" withdrawls, nations are banning it (russia, china...some others will follow), price is going down...this is not another crysis. This is the beginning of the end. Wait some months and your beloved bitcoins will be back to 15 dollars. In the future they will look back and laugh at bitcoin's bubble of 2013-2014. I can figure that. is this like the first end of bitcoin or like the second end in later 2013? or is the third "true" end of ends...of bitcoin? |
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* yawn *
if we don't take action you will be yawning yourself to Bitcoin value to $20 usd . The idea that we have to create positive news to rocket bitcoin to the moon (pun intended) is counter-intuitive to letting bitcoin generate its own success through the improvements that it generates for its users. we don't need PR gimmicks, Bitcoin will appreciate in time on its own. |
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I am trying to build a dedicated mining rig with a budget of roughly 10K.
Should I buy a bunch of GPUs run the hell out of them, and them sell them when the ASICs chips come out?
I hear a lot about how GPU mining is not worth the investment, but if you are new and want to front run the ASICs cards. And then use profits to purchase to upgrade is this a feasible solution?
yes in scrypt, not in SHA. Right now you can mine more BTC per $ if you build scrypt machines (including electricity) than buying an equal costly SHA machine. |
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How would you describe the noise of 6 280x mining at 50-60% fan speed in an open case? Will that be the equivalent of 1 hair dryer? Is it very irritating to have it under your desk?
hhmm, well i have two machines each with 3x 280s right next to each other (6 total) and i would classify the noise level as equal to the two box fans on low settings i have behind them pushing air. Between the two machines and the box fan i can hear the sound as being slightly quieter than a hair dryer in the next room. I can still watch TV and not notice anything in the next room (open area to the dining room where i have my machines hooked up). so just put them away as far as possible and as long as someone isnt sleeping in the same room or watching TV you will be ok. If you have a door separating them from someone you will only be able to hear it if you really concentrate. my two 290s though in my gaming computer.....when those things are mining.......i think a blackhawk is taking off. mine are MSIs |
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ya i had to replace mine after a couple days. The PSU started making this weird loud sound (think it was the fan as stated above) and my single was hashing at like only 60%. I replaced with an older but still good PSU i had from a smaller computer years ago, stuck the paper clip and its been working like a charm.
its just not the PSU, the machine looked like a 5 year old with a complicated instruction manual put this thing together.
Never again, at least the hash rate is as advertised so i have easily made my ROI....but still....
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Hello Bitcoin forums, I am looking to sell my 2xGTX 670s (together). I used to use them in my gaming machine, but i have since replaced them with R9 290s so i can mine while I am not on my main machine. Each card has about one year of average gaming use on it. I am looking to sell both with the SLI bridge for .5 BTC, shipping included. I will ship the business day after payment. Please only US/Canada   Please message me if you are interested. Please only send payment after you PM me and we confirm the sale. I will post all updates on this thread to include when i receive payment and shipping date. Escrow open but at buyers expense. I wanted to try here first to see if anyone is interested to save some auction fees on ebay and such. Bitcoin address in signature is good. I would be happy to answer any questions before any agreement is made. newegg link from where i bought them from even though they are not available anymore from them. http://www.newegg.com/Product/Product.aspx?Item=N82E16814130785first come, first serve basis. |
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for 5k you can build 3 or 4 mining rigs if you build the right machines. Mine dogecoin and trade it up to BTC/LTC.
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Hi, Based on your experience, can you recommend a particular make/model of AMD R9 280X GPU that you've found to be stable, and that is able to be under-volted (ideally out of the box - without re-flashing, etc). I'm looking for an economical 280X card to run, that provides average/good hash, eg: 730-740mhs approx. I currently run a pair of 290's, which is similar to sitting near a pair of jet engines (as well as running very hot), and also a pair of MSI 280x's - which are a nice card (quiet and run cool), though I can't under-volt them, so am having something of a re-think of what I run in my rigs. Thanks in advance for your recommendations/advice.  I have the MSIs and they can be undervolted as well. Been running 6 of them since i could get them when they came out and havent had a single problem yet. 700 Kh/s. I probably could squeeze out alittle more but i am happy not over taxing them. |
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get a plastic crate from Lowes, they are 5 bucks and you wont have any heat problems. can fit a full rig in them.
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If they are so convinced of this high price, why sell the position.
Some (especially those with several billions or even trillions) might avoid Bitcoin as a currency with public information available about two people owning ~1% of it – knowing they bought "low" compared to the current exchange rate and they might need some money to get their IPO started. It simply can't go – or at least it won't stay at $40,000 with a wealth distribution like this – greed and the risk of someone dumping 1% holds it down – that's why you diversify… That being said: I think their intentions are good. Yes, this another major problem for bitcoin, however they cant solve it, as they are tiny in comparison to some other early adopters. We already have a huge one sided distribution in favor of early adopters, who hold over 50% of the bitcoin supply. This design was built in on purpose, Satoshi himself doesnt seem to mind otherwise he would have designed it differently. Again I find it peculiar to say the least, that they are so convinced of the $40000 price tag but already want to dump. To me the explanation that they just want OUT is more straightforward than what you point to, as they cant fix the design flaw (if they think distribution is one). you do realize that is how all long term investments work right!? the early adopters are the ones that put up the most risk and are the ones that benefit the most if the investment grows. Thats why there are people that become early adopters for higher risk and once the company/website/crypto coin becomes too mainstream they sell and move on to the next big hit. You could then technically say any investment, even a start-up company, is a "ponzi scheme" where the earlier investors make the majority of the money in the long term. How dare people buy in early to grow an investment! /facepalm |
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Hi all. Just looking for some advice here as im not sure whats happened. I have/had a 850watt powercool psu (see here: http://www.scan.co.uk/products/850w-psu-powercool-pcpc850auba-80-eff-80-plus-sli-crossfire-eps-12v-quiet-fan-atx-v22) I just setup a new rig with 1x R280X and 1x 7950 graphics card in (from a powered riser card). The PSU only has 2 8pin PCIE power connectors edspite being titled as SLI, so i plugged in as follows: 1x8pin into the 280x 1x6pin into the 7950 2xmolex to 8pin pcie for the 2nd power slot on the R280X off 1 cable coming from the psu 2xmolex to 6pin pcie for the 2nd power slot on the 7950 + 1 molex to the pcie riser card off the 2nd cable coming from the psu. the 2 12v Rails were rated at 16A which should be 190W. I plugged in, powered up, started mining just fine. Both cards running. I then changed the power-tune in config file from -20 to -10 via RDC, and suddenly heard a 'POP' in the other room. Went to inspect and the entire machine was off. Unplugged everything and turns out the fuse had blown in the power cable. Swapped power cable over and just turned the psu on (not plugged into mobo) and 'POP'. Blew the 2nd fuse in the new cable. Basically the PSU is dead - but what i wanted to know was - have i caused this or was i just unlucky with a faulty unit? What should normally happen if you over load a psu would it smoke up - id expect them to have some sort of resettable fuse in them. The 2 cards should only be a max of 500watts (less because powertune was still -10%) but im not sure if its because i then utilised the riser on the same channel or what? - didnt actually need the riser in this case i was just testing it but a bit nervous about trying a riser on any of my other boards now - i bought 5 with the hope of adding a 3rd card to my other boards. What power supplies does everybody use or recommend for 3x280x or 3x7950s? Do any exist with 6 pcie power cables or does everyone utilise the molex adapters like i have? thanks in advance! i have machines running a 860W with 3x R9 280x and that PSU works like a charm 24/7 for months now. My guess is you didn't buy a certified PSU and went with a cheapo one. PSU should never be skimped on in any mining rig. |
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Straight from the Man: https://www.youtube.com/watch?v=Oht_i6ADSbcI don't understand why the Chinese don't just switch to LocalBitcoins, or come into BtcChina office and give them RMB directly?  Someone could probably make some money running armored couriers to and from the BtcChina office...  who says they aren't? i can tell you that a chinese person that wants bitcoins will get them...just not throught BTC china |
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Hi guys, I am looking for a btc loan but pegged to the usd! I want to borrow 1000 BTC pegged at $600 US each. My plan is to take the 1000 BTC and HODLING them until they are worth $1000 US each. At that point I will give you back 600 BTC and keep 400 BTC for myself!  As for COLLATERAL , I can offer my bitcointalk account passwords, copies of my ID, I have 0.003LTC and 6 PPC, I also have about 10 DVC.. oh yeah.. I also have a Motorola Brick phone I can throw in but you have to pay for shipping! If this is not enough I can put up half a tube of toothpaste, three rolls of sharmin double ply toilet paper and a 16OZ T-bone steak. Ummm.. As I understand I am asking for a lot I can even throw in my PS2 with 100 games, I have a PS3 but I play it daily. So I ask this generous community, who can loan me 1000BTC? One doesnt even know where to start obviously a troll post.....right..... |
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Looking to rent some MH/s, first by day to test you
out, then by week, then by month. If all goes well.
This way i will be able to trust you and likewise with
me.
I am able to pay you with BTC, LTC.
I don't necessarily need your personal information,
but proof of your hashing power would be ideal.
The smaller hourly/daily contracts to get started
minimizes risk. I won't touch mining power options or
anything like that and you can control where the
miners are pointing too. I am quite new to all the
crypto business so you will mostly be in control (and i
will probably need your help on things)
Let me know if anyone is offering something on here.
Many thanks
Gav
hm, i think you might have better luck on the litecoin forums. I have some scrypt miners but what would be the advantage for me to rent it out instead if just mining with it myself like it currently is? You would have to pay a premium on the Mh/s to make this worth while for scrypt miner. send me a PM i might be interested...but you would have to give me an higher incentive to direct some of my LTC hashing power your way. With cryto currencies on sale right now there is solid upside to coins. |
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come together as a union, citizen arrest and hang the criminals.
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You don't invest in USD or EURO or etc... you use them. Bitcoin is a currency, and a tool. It wasn't meant for people to make money. People made money holding Bitcoin while it is in growing phase, is simply an abnormality. Once Bitcoin reach user saturation, there probably will be no more such occurrences.
Also Bitcoin may forever be an obscure experimental internet currency, that may never make it mainstream. There are no guarantee that it will become mainstream. So user saturation MAY already happened.
it doesn't matter what people classify or even label as what constitutes an investment. if you store some of your hard earn wealth in it, and it grows over time then that is an investment. If one person can find a way to grow his wealth through pink elephants then that is an investment. Bitcoin is an investment because it can (and has) been to used to grow a store of wealth over time. People label it as a none investment doesn't actually matter. sorry and yes people invest in fiat currencies all the time and make profits off it. You also have no evidence of your assumption of saturation or that there will not be any more occurrences of the price rising. Ignorance is bliss because you are always right. |
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