Who is quitting mining due to block halving?

[jimbobway]

Just curious who is going to quit running their mining rigs.  Also tell us what kind of rig you run.

[Stephen Gornick]

Just curious who is going to quit running their mining rigs.  Also tell us what kind of rig you run.

Here's one story of it:

Spent a long afternoon with my Air Compressor
 - http://bitcointalk.org/index.php?topic=128282.0

[Wave]

I'm considering it given:

4.5 GH/s with electricity at $0.14 per KW/H  I'm looking at a profit of maybe $20 USD per month.  I.E. not worth my time and I want my gaming rig back, lol.

But I still want to support bitcoin so I setup a full bitcoin node today!  :-)


-Wave

[bcpokey]

I'm considering it given:

4.5 GH/s with electricity at $0.14 per KW/H  I'm looking at a profit of maybe $20 USD per month.  I.E. not worth my time and I want my gaming rig back, lol.

But I still want to support bitcoin so I setup a full bitcoin node today!  :-)


-Wave

Kudos to you sir. And you've given me a good idea too. I've long been thinking about getting one of those cheapie little low-power computing devices like a BeagleBone or RaspPi, to play with, and potentially run future mining operations on, but I never really could think of anything entirely USEFUL I'd actually want to do with them. Running a full node on such a device would be low cost, a mildly interesting learning experience, and quite useful as well (I'd like to support bitcoin as well).

[cdb000]

I set all my 5870s and 5970s to run at 600MHz, 0.95v. More efficient and (just) profitable.

During the winter, I'll keep them going because, even at break-even, the heat has value.

Come warmer weather and I'll quit mining.

[jermwerty]

$0.058 KWH here...

Can I *borrow* your rigs for just a bit?



I actually traded up, and focused on 7970s/6950s at the end... I miss the 5970s but I knew trading them out for 7970s was a smart thing to do.

Wish I knew how fast ASIC is getting here...

[layyen]

3* 6870 - very hungry rig
4*6770 - not so hungry but nearly umprofitable..
switched to LTC for some time..

heat from the rigs is valuable for me during winter..

[bcpokey]

$0.058 KWH here...

Can I *borrow* your rigs for just a bit?



I actually traded up, and focused on 7970s/6950s at the end... I miss the 5970s but I knew trading them out for 7970s was a smart thing to do.

Wish I knew how fast ASIC is getting here...

As I recall from my days long ago, 5970s were far more efficient devices for $/Mhash and even Mhash/J than 6950s, and I assume by extension 7970s. Or are the 7970s a lot more power efficient? I haven't kept up on cards in a while.

[os2sam]

But I still want to support bitcoin so I setup a full bitcoin node today!  :-)

-Wave

Running a full node on such a device would be low cost, a mildly interesting learning experience, and quite useful as well (I'd like to support bitcoin as well).

When you guys say run a "full bitcoin node", what do you mean exactly?  Are you just running a Bitcoin client 24/7 or is there something else to it?
Thanks,
Sam

[bcpokey]

But I still want to support bitcoin so I setup a full bitcoin node today!  :-)

-Wave

Running a full node on such a device would be low cost, a mildly interesting learning experience, and quite useful as well (I'd like to support bitcoin as well).

When you guys say run a "full bitcoin node", what do you mean exactly?  Are you just running a Bitcoin client 24/7 or is there something else to it?
Thanks,
Sam

Different clients function differently, in order to send/receive bitcoins you do not need to be a node, or have the full blockchain.

In this context to be a "full bitcoin node" you need to have the Full BlockChain on your machine and be actively receiving and transmitting bitcoin transactions/block finds from many peers, assisting in dispersing blockchain information to as many people as fast as possible.

I perhaps make it sound complicated, but it can be as simple as you suggest, running a bitcoin client like Bitcoin-qt 24/7 on a machine that has open access to the internet (has an open port that isn't firewalled for listening for peers).

[bitcoindaddy]

I turned 3 rigs off. According to the bitcoin profitability calculator I would make little to nothing. One rig will be turned on again (sans video cards) when the ASICs arrive or I'll use Raspberry Pi's if that works out.

[QuestionAuthority]

I turned off 6GH/s of miners the day of the reward drop. It won't be profitable to mine until a shitload of people stop mining or the ASICs come out and drop in price, in other words, a very long time from now.

[Stephen Gornick]

It won't be profitable to mine until a shitload of people stop mining

And that doesn't look like it is happening.  I see reports of many Ghashes of capacity that have quit, and I see the stats going up for hashing done on some alts but there's no drop in the Thash/s mining Bitcoin:
 

 - http://bitcoin.sipa.be/speed-lin-2k.png

I'm real curious to know where the additional capacity is coming from.

[caffeinewriter]

Never could mine. All I have is a CPU and an "Intel Graphics Accelerator HD" aka, useless mining stuff. I wanted to, but I can't afford it >_<, so yes, I am quitting, before I even started

[Jack1Rip1BurnIt]

I switched to mining Litecoin until the rest of my cards sell. I've been enjoying gaming again...these 7xxx series cards are excellent!

[Technomage]

I have fixed electricity costs (included in the rent) so I'm basically not even close to the quitting point. I will quit when ASIC's have arrived, then GPU mining is basically useless even with free electricity when you take into account the noise, wear and tear from running them and the decreasing resell value.

[DiCE1904]

switched them to something else yesterday

[c0ikws]

Using GPU processing power for heating my place right now. It's 24.5 inside (-10 outside) and there are no other heater than my two Pcs

I still make around 0.25 bitcoin a day with around 1Gh/s so I guess it's not that bad.

[Littleshop]

I turned off 6GH/s of miners the day of the reward drop. It won't be profitable to mine until a shitload of people stop mining or the ASICs come out and drop in price, in other words, a very long time from now.

I am turning off my least efficient rigs.  I have 3 single card machines to shut down as they are no longer profitable.  Half of mine would be unprofitable if the waste heat was not useful.   The other half are BFL Singles and they will stay on until they are replaced by ASIC upgrades.  

[fuuka]

It's cold, I'll probably keep my 2x 5850s running for a little bit longer.

I'm going to sell my Single in a couple weeks, someone else can trade it in towards a Single SC  and I'll buy a little single or jalapeno