Legolouman,
Do you have any final stats then on how much we actually ended up paying for this? I have had A1BITCOINPOOL contact me and I have given him a number lower than what I ended up spending to "clear his name" of sorts, I just want to make sure that I give an appropriate percentage of this to Goat when/if it comes in. Thanks!

Well, I got mine on an 8" floppy disc, Sonny. Seriously, there currently are about 65 million of us boomers still around. Imagine only a fraction of them converting 1% of their savings into Bitcoin. The way I figure it, that'll be the ultimate hedge against inflation. Fuck gold! $1,700 worth of gold today, buys you $1,700 worth of stuff. Twenty years from now, if gold is at $5,000/oz, you'll be able to buy...wait for it...$5,000 worth of the exact same stuff.



~Bruno~

then why can't one person even check me out witout getting "f**k off scammer" posted. grow the f**k up

Coins sent. http://blockchain.info/tx-index/3440001/5434cc9958556fa494b8dca4b6ee4023e84bbb58ccde3821c60d02cadeb42f13

Cheers!

I'd like $5.35/coin.

25/5.35=4.673 coins

If it sounds agreeable, send $25 to *snip* and I'll send you the coin to the address in your sig.

can cablesaurus ship orders to finland?

Still willing to bet that the cablesaurus ones are the exact same as the $2 eBay ones

I don't think 95c is a very safe temp to run at, especially because you were OCing pretty hard. Not all eBay cards are bad, maybe you just had bad luck with one. If you're not good at fixing cards you can resell it on ebay or on these forums as a broken card, it won't go for as much but theres always someone willing to buy it.

Dealextreme have been slow on the shipping with those lately, i would probably check eBay first


Haha, wat. Cablesaurus is overprices a f@¤k. I'll bet you it's the excact same cables as commonly found on eBay for $2

Right. Miners effectively now have the option of efficiency through MH/$ efficiency (the GPU choice) or MH/KWh (the FPGA/ASIC choice). GPUs are relatively cheap up-front, but are risky for those paying a "reasonable amount" for electricity. As adoption of power-efficient miners increases as a % of total miners, there may be less resistance against a higher difficulty and lower price. That is, where old data show miners seem to drop out when Bitcoins lose value (whether this is because interest in BTC drops or because mining becomes unprofitable is up for debate) - what we may see in the future is that when price drops without a difficulty adjustment, GPU miners stop mining, but FPGA/ASIC miners keep going because, in any short-term scenario currently conceivable, there's no reason not to.

If difficulty remains where it's at now, and the price of BTC drops to $1, there isn't much reason for FPGA/ASIC miners to stop mining, because they don't pay much to create the coins. Many GPU miners, however, would not be willing to pay $5 in electricity to produce a good worth $1. Instead, in the future, difficulty may stop decreasing, and only increase at a slower rate when price drops. Just as CPU miners are now laughable, GPU miners may soon suffer the same fate, and in the future, were the market to adjust to having the majority of miners using high-efficiency FPGA or ASIC rigs, those too may eventually be superseded by something brand new and even more efficient.

As for "high power cost" (which was a bad phrase to use, but I'll run with it) - I'd consider that any amount where mining on mid-range ATI cards is unprofitable, which I'd guesstimate is something like $.15/KWh. Using that definition, and assuming FPGA/ASIC cards continue increasing in usage as miners, "high power cost" will lower with time, perhaps in a couple years settling at something like $.04/KWh.

(Quick disclaimer: I wouldn't be surprised to learn I'm overstating the impact of higher-power-efficiency hardware. It's a pretty big investment to buy something which has little existing demand outside of tiny markets, and which costs multiple times more than GPUs. I have no idea what % of miners run FPGA rigs. Maybe 5% currently, maybe .05%. In two years, FPGA miners may only make up maybe 3% of the network's total hashing power. *shrug*)

Be careful with the cheap stuff, some people get their cards/mobos ruined because of low quality risers

First off, my bought-in-April-2011 GPUs paid for themselves, including electricity costs and excluding the liquidation value I got from them after I sold a couple weeks ago. I'm quite pleased with how it turned out, but also pleased I got out when I did -- I'm not too far away from breaking even anymore.

1) Not worrying. If my math is correct, 7.2k Bitcoins "should" be created every day with a 50BTC reward. The mysterious solominer finds roughly (from someone in a previous thread) 1/15 of the blocks. 7200*(1/15)=480BTC, which really shouldn't move the market much, even if the coins were being sold "fresh" every day (also worth noting the coins which are on market due to mystery-miner always selling all his coins doesn't necessarily equal 480 coins being put on the market which wouldn't have been there otherwise given the miners who would've otherwise received the coins also selling their coins as they're "produced" -- it's likely just increasing the % of total coins produced in a day being sold, again assuming mystery-miner sells his coins as mined). When the reward halves, mystery-miner's daily reward will be 240BTC, which isn't very scary at all.

2&4) I think it's safe to assume FPGA "market share" of the hashing power is rapidly increasing. Even if the market "adjusts," that doesn't mean GPU mining will be viable long-term, especially when/if we see good results on ASICs. I imagine FPGA/ASIC efficiency (rather, the cheaper cost to "create" a Bitcoin using that kind of hardware) would keep most miners happily churning out coins even at a lower price and higher difficulty -- there's not really any reason an ultra-efficient FPGA should ever stop mining and selling unless they're hoarding and hoping for a better price or the value of Bitcoins becomes near-worthless. That said, there will always be a large variation in what people pay for electricity -- for someone paying something negligible or someone paying nothing for electricity, they'd be foolish (barring revolutionary new mining hardware) to not use GPUs in their situation. In that situation, it will always be more cost-efficient (again, barring a future scenario where ASICs or something have better Mh/$ efficiency) to run GPUs.

3) Not sure I understand. I don't think electricity providers are raising their rates due to increased demand caused by Bitcoin mining.

Fabulous work, rjk. You just got every person in this thread on a domestic terrorist watchlist.

See you in indefinite detention.

You don't need a powerful cpu unless your also going to use this rig for Litecoin Mining as well as Bitcoin mining