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Vernon715
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February 27, 2013, 02:33:39 AM |
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If someone has free electricity they could still make a profit with GPUs
True, but in case of difficulty going up 10X or more, it is more profitable to sell cards I was speaking of a situation where someone is mining during their gaming rigs downtime. |
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vdragon
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February 27, 2013, 01:50:20 PM |
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If someone has free electricity they could still make a profit with GPUs
True, but in case of difficulty going up 10X or more, it is more profitable to sell cards I was speaking of a situation where someone is mining during their gaming rigs downtime. Ah that  . Sorry. my brain doesnt work that way  |
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Vernon715
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March 01, 2013, 04:31:50 PM |
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If someone has free electricity they could still make a profit with GPUs
True, but in case of difficulty going up 10X or more, it is more profitable to sell cards I was speaking of a situation where someone is mining during their gaming rigs downtime. Ah that . Sorry. my brain doesnt work that way understandable |
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Evan
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March 01, 2013, 09:10:23 PM |
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I was wondering if there is a particular exchange price that bitcoin can rise to to keep the GPU and FGPA Miners still in the bitcoin game?
No quit now. |
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bitcool
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March 01, 2013, 09:15:04 PM |
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No, miners with GPUs will either stop mining or move on to litecoin. Mining LTC is already 30% more profitable for me, I don't know why anyone would still be GPU mining BTC at this point.
Very interesting. I have never heard of LTC but if it is 30% better for GPU miners like myself I will look now! Thanks. that's a well-kept little dirty secret in the mining industry  |
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crazyates
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March 02, 2013, 04:33:38 AM |
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No, miners with GPUs will either stop mining or move on to litecoin. Mining LTC is already 30% more profitable for me, I don't know why anyone would still be GPU mining BTC at this point.
Very interesting. I have never heard of LTC but if it is 30% better for GPU miners like myself I will look now! Thanks. that's a well-kept little dirty secret in the mining industry What? LTC is your dirty little secret to success in the age of Bitcoin ASICs? LTC is old news, and isn't really going anywhere. It hasn't been going anywhere for a long time, now. The only reason it's even still around is because it was the most popular of the alt-coins, which isn't really saying much. |
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bitcool
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March 02, 2013, 01:15:35 PM |
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No, miners with GPUs will either stop mining or move on to litecoin. Mining LTC is already 30% more profitable for me, I don't know why anyone would still be GPU mining BTC at this point.
Very interesting. I have never heard of LTC but if it is 30% better for GPU miners like myself I will look now! Thanks. that's a well-kept little dirty secret in the mining industry What? LTC is your dirty little secret to success in the age of Bitcoin ASICs? LTC is old news, and isn't really going anywhere. It hasn't been going anywhere for a long time, now. The only reason it's even still around is because it was the most popular of the alt-coins, which isn't really saying much. Pass reading comprehension exam and get your GED first. Which part of the sentence of "Mining LTC is already 30% more profitable for me" you didn't understand? |
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crazyates
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March 02, 2013, 06:26:24 PM |
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No, miners with GPUs will either stop mining or move on to litecoin. Mining LTC is already 30% more profitable for me, I don't know why anyone would still be GPU mining BTC at this point.
Very interesting. I have never heard of LTC but if it is 30% better for GPU miners like myself I will look now! Thanks. that's a well-kept little dirty secret in the mining industry What? LTC is your dirty little secret to success in the age of Bitcoin ASICs? LTC is old news, and isn't really going anywhere. It hasn't been going anywhere for a long time, now. The only reason it's even still around is because it was the most popular of the alt-coins, which isn't really saying much. Pass reading comprehension exam and get your GED first. Which part of the sentence of "Mining LTC is already 30% more profitable for me" you didn't understand? And what sites accept LTC that aren't a trading platform? |
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bitcool
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March 02, 2013, 07:16:22 PM |
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And what sites accept LTC that aren't a trading platform?
Why should miners care? You mine, you sell, you make money. No need to get philosophicalish complicated. If you try to find a place for ltc-bashing, this is the wrong thread. |
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tacotime
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March 02, 2013, 11:34:55 PM |
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What? LTC is your dirty little secret to success in the age of Bitcoin ASICs? LTC is old news, and isn't really going anywhere. It hasn't been going anywhere for a long time, now. The only reason it's even still around is because it was the most popular of the alt-coins, which isn't really saying much.
I know, it's this terrible alternative currency that has made more more money than bitcoin mining has over the past 6 months. |
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Grover
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March 03, 2013, 12:06:13 AM |
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New to the game and the board.
Seems like the rise in difficulty for mining BTC will move older gen hardware out of profitable BTC mining. That hardware may sit idle but looks like many people may elect to move to LiteCoin mining to maintain profitability, even if profitability is speculative at first.
Wouldn't more people mining for LiteCoins increase demand for LiteCoins? Then people can exchange litecoins for Bitcoins or for fiat.
This seems to be a normal progression of the rise in difficulty in mining for BTC. As opportunity cost rises more people will look for a cost that works for their situation and opportunity will follow demand.
Maybe I have this all wrong just my questions/thoughts.
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crazyates
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March 03, 2013, 06:01:21 AM |
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What? LTC is your dirty little secret to success in the age of Bitcoin ASICs? LTC is old news, and isn't really going anywhere. It hasn't been going anywhere for a long time, now. The only reason it's even still around is because it was the most popular of the alt-coins, which isn't really saying much.
I know, it's this terrible alternative currency that has made more more money than bitcoin mining has over the past 6 months. Orly? Did you forget about the massive LTC roller-coaster after the BTC reward half? People jumped onboard cuz it was more profitable, and then jumped off when the network adjusted and everyone (literally, everyone) was mining at a loss. Up down up down. You're really looking forward to that again when BTC difficulties hit 10M+ and GPUs aren't even profitable with BTC anymore? |
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msm595
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March 03, 2013, 07:33:32 AM |
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Wouldn't more people mining for LiteCoins increase demand for LiteCoins? Then people can exchange litecoins for Bitcoins or for fiat. No, more people mining litecoin would increase supply, not demand. This will certainly profoundly impact litecoin. Prices will drop, and the difficulty is already projected to rise 35%. In the long term, there is no saying what will come out of this. |
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-ck
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March 03, 2013, 08:15:34 AM |
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Wouldn't more people mining for LiteCoins increase demand for LiteCoins? Then people can exchange litecoins for Bitcoins or for fiat. No, more people mining litecoin would increase supply, not demand. This will certainly profoundly impact litecoin. Prices will drop, and the difficulty is already projected to rise 35%. In the long term, there is no saying what will come out of this. Mining only has an indirect effect on price. People mine to make money, the value of their currency does not inspire them and they want their mined coins to be valuable, so some of them branch out into other ventures which actually do affect price, such as selling goods with their currency etc. If people don't do the latter, the price will not rise, as the value of the currency is determined by speculation and trade, NOT mining. By virtue of the way Satoshi designed the original successful cryptocurrency (obviously BTC), mining doesn't affect production either. Production varies slightly from difficulty to difficulty, but overall is relatively constant. As for the original question [Can the the rise of bitcoin price keep GPU and FGPA in the mix?] - that question is easy to answer: No. |
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Grover
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March 03, 2013, 08:23:37 AM
Last edit: March 03, 2013, 08:42:49 AM by Grover |
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Wouldn't more people mining for LiteCoins increase demand for LiteCoins? Then people can exchange litecoins for Bitcoins or for fiat. No, more people mining litecoin would increase supply, not demand. This will certainly profoundly impact litecoin. Prices will drop, and the difficulty is already projected to rise 35%. In the long term, there is no saying what will come out of this. Isn't LTC supply set at a fixed rate over time like BTC? So if one person was the entire system/network and doing all the mining they would get all the coins just as fast as if 100 people are mining. If one person has all the coins there would be no demand for the coins unless others see a perceived value which is generally based on the perception of the scarcity of the item. If 100 people tried mining the coins, people who wind up with fewer coins will want more coins and will be more open to trade items to get the coins. That's the demand I'm talking about. That gives the item value, like when people decide Beanie Babies have value, or Tulip bulbs. The demand is really driven by people with less wanting more and people with more trading for things they value in exchange for the item with the people who have less. I think then as the cost for mining BTC goes up for people with GPU and FPGA systems they will search for greener pastures and mine LTC which will give LTC value to that group of people. It is a function just like people selling items in any MMORPG. The items have a lot of value to people in the game, then more people get involved to try and profit and all the sudden there are auction sites and exchanges. To me this is no different than a MMORPG, other than some businesses outside the supply chain, economy, of the game are starting to accept BTC for goods or services that have nothing to do with the game of BTC. These businesses accept BTC because of liquidity that is derived from so many people wanting more BTC that they are willing to trade currency for the BTC. I know BTC is considered a quasi currency, but until governments accept BTC as payment for tax debt then it is just another commodity. Just my 0.00000002 Bitcents. |
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tacotime
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March 03, 2013, 03:46:43 PM |
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What? LTC is your dirty little secret to success in the age of Bitcoin ASICs? LTC is old news, and isn't really going anywhere. It hasn't been going anywhere for a long time, now. The only reason it's even still around is because it was the most popular of the alt-coins, which isn't really saying much.
I know, it's this terrible alternative currency that has made more more money than bitcoin mining has over the past 6 months. Orly? Did you forget about the massive LTC roller-coaster after the BTC reward half? People jumped onboard cuz it was more profitable, and then jumped off when the network adjusted and everyone (literally, everyone) was mining at a loss. Up down up down. You're really looking forward to that again when BTC difficulties hit 10M+ and GPUs aren't even profitable with BTC anymore? Sounds like someone's jimmies are rustled |
XMR: 44GBHzv6ZyQdJkjqZje6KLZ3xSyN1hBSFAnLP6EAqJtCRVzMzZmeXTC2AHKDS9aEDTRKmo6a6o9r9j86pYfhCWDkKjbtcns |
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crazyates
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March 05, 2013, 03:33:45 AM |
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What? LTC is your dirty little secret to success in the age of Bitcoin ASICs? LTC is old news, and isn't really going anywhere. It hasn't been going anywhere for a long time, now. The only reason it's even still around is because it was the most popular of the alt-coins, which isn't really saying much.
I know, it's this terrible alternative currency that has made more more money than bitcoin mining has over the past 6 months. Orly? Did you forget about the massive LTC roller-coaster after the BTC reward half? People jumped onboard cuz it was more profitable, and then jumped off when the network adjusted and everyone (literally, everyone) was mining at a loss. Up down up down. You're really looking forward to that again when BTC difficulties hit 10M+ and GPUs aren't even profitable with BTC anymore? Sounds like someone's jimmies are rustled Well sort of. I don't have anything particularly against LTC, at least not more than I do against any other alt-coin, except for the fact that people view it as their salvation for GPU-leftover-woes when the BTC difficulty goes up. When I see someone mining LTC, I don't see a Kh/s making LTC stronger, I see a missing Mh/s that could be making the BTC network stronger, but isn't. As ckolivas said, the real strength of Bitcoin is that it's a currency, and it grows and is stronger when people use it as such. Buy. Sell. Trade. Whenever people buy or sell with LTC, that's another transaction that could have furthered the adoption of BTC. I would much rather see people sell their GPUs, buy ASICs, and keep the BTC network strong than switch those GPUs to LTC. |
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Vernon715
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March 06, 2013, 12:23:08 AM |
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What? LTC is your dirty little secret to success in the age of Bitcoin ASICs? LTC is old news, and isn't really going anywhere. It hasn't been going anywhere for a long time, now. The only reason it's even still around is because it was the most popular of the alt-coins, which isn't really saying much.
I know, it's this terrible alternative currency that has made more more money than bitcoin mining has over the past 6 months. Orly? Did you forget about the massive LTC roller-coaster after the BTC reward half? People jumped onboard cuz it was more profitable, and then jumped off when the network adjusted and everyone (literally, everyone) was mining at a loss. Up down up down. You're really looking forward to that again when BTC difficulties hit 10M+ and GPUs aren't even profitable with BTC anymore? Sounds like someone's jimmies are rustled Well sort of. I don't have anything particularly against LTC, at least not more than I do against any other alt-coin, except for the fact that people view it as their salvation for GPU-leftover-woes when the BTC difficulty goes up. When I see someone mining LTC, I don't see a Kh/s making LTC stronger, I see a missing Mh/s that could be making the BTC network stronger, but isn't. As ckolivas said, the real strength of Bitcoin is that it's a currency, and it grows and is stronger when people use it as such. Buy. Sell. Trade. Whenever people buy or sell with LTC, that's another transaction that could have furthered the adoption of BTC. I would much rather see people sell their GPUs, buy ASICs, and keep the BTC network strong than switch those GPUs to LTC. The Btc network is already more powerful than any supercomputer in the world... Just sayin'... |
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FreedomCoin
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March 06, 2013, 12:27:53 AM |
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For people in the United States, i think alot of GPU miners will go offline that are paying for their own power. In the winter you can leave a window open and have your room cooled. But with summer your overhead will go way up trying to keep a computer room cool.
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vdragon
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March 06, 2013, 06:49:35 PM |
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Interesting thing, I dont have to cool the rooms before its 40C at some point in the day. People usually go for mass cooling, instead of lowering the core on cards. If you lower your 1000MHz core on 7950, to 900MHz, it does wonders too. Also work on proper airflow, use extenders to pull apart cards. Usually is much cheaper then buying 24000 BTU air conditioning that runs on like 1.7kW (if you buy an efficient one)
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