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Author Topic: should i spend money for VGA right now  (Read 1966 times)
hope2907
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March 21, 2013, 02:59:19 PM
 #1

should i spend money for VGA right now

i'm want to spend about 6000USD to buy vga, does it worth now?

because buying avalon too risk for me @this time, as we all know problem about ship time? and my country have some conflict with china right now another risk @@

thus i'am new to BTC, ijust get break even for 2 7970 and 1 770 last month

regard

sr for poor english
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BBQKorv
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March 21, 2013, 03:35:15 PM
 #2

Bitcoin difficulty should skyrocket soon with ASICs shipping, so buying GPUs for bitcoin only doesn't look too good now. If you trust altcoins and specially scrypt then its as good time to purchase than any other time.

We have to remember that ASICs are very hard to get these days, and even if BFL starts shipping soon (which it doesn't) it would take close to half a year or more for them to even ship all the current orders. Trying to get Avalon seems like a gamble, you might get lucky and get to place an order but the new price makes it a ridiculous gamble if you ever break even.
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March 21, 2013, 03:44:55 PM
 #3

Wow if you're just breaking even at BTC $68 you really need a low power ASIC. Cry Japan?

ryantc
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March 21, 2013, 06:37:24 PM
 #4

how about buying BTC directly?

if this is not an option for you,

do some simple math

with 6000 USD, you will get approx 12 7970 @ 400 USD each (or even cheapeer)
these cards spread on 3 or 4 mobos so you will need
3 or 4 mobo
3 or 4 PSU
3 or 4 RAM
you can run the system on usb linux, that costs next to nothing.

add the original 2 7970 (7770 becomes trivial in this setup)
you get 14 7970s, and each can hash at 700Mh/s (correct me if I am wrong)
that gives you 9.8G hash rate.

you have to work out your power cost, and where ever you put your rigs you have to make sure there is enough AMP for these rigs to run together.

so the only unpredictable factor is the difficulty level, with the current difficulty level you get approx 1BTC per day, till the next retarget date
deathcode
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March 21, 2013, 10:32:23 PM
 #5

how about buying BTC directly?

if this is not an option for you,

do some simple math

with 6000 USD, you will get approx 12 7970 @ 400 USD each (or even cheapeer)
these cards spread on 3 or 4 mobos so you will need
3 or 4 mobo
3 or 4 PSU
3 or 4 RAM
you can run the system on usb linux, that costs next to nothing.

add the original 2 7970 (7770 becomes trivial in this setup)
you get 14 7970s, and each can hash at 700Mh/s (correct me if I am wrong)
that gives you 9.8G hash rate.

you have to work out your power cost, and where ever you put your rigs you have to make sure there is enough AMP for these rigs to run together.

so the only unpredictable factor is the difficulty level, with the current difficulty level you get approx 1BTC per day, till the next retarget date


I'd have to agree. With 6k buy btc directly. Think ROI, you'll be making money, to pay for your investment, and once ASIC is fully deployed (BFL finally ships) then I see the difficulty level doubling within the next 4-5 months, meaning you'll be making 1btc a day and then starting to go down....
I have my GPUs mining because I already paid for them since last May and because the price increase made the GPU miners more profitable than before, so no matter how little I mine, I get to profit from it.
6K at actual prices is not too late to get in... especially if you're in for the long term. If you are thinking about buying GPU, then you're in for the long term so buy BTC and profit from the spikes that will surely go up.

I'll use one of my miners as example:

Rig 1: 2 x7970 1x5750 = Total 1500 Mhash/s bought in August 2012 spent about $1200 (bought expensive case, PSU to keep them)

BTC Price in August: $10~
BTC Amount in August: BTC120 (U$S 1200 / $10)

Current BTC generated by Rig 1: 82 BTC as of today.

Total Value of BTC generated by Rig 1: 82 x $70 = U$S 5,740 + Residual value of hardware ($800~) - Power (0.06Kw/h)
                                                                                  U$S 6,540 - U$S 250~ = U$S 6,290
Total Value of BTC if directly invested in BTC instead of mining: BTC 120 x $70: U$S 8,400

I hope this provide you with a clear example of why investing in BTC might be a better option, however, this example applies to my particular case and the value of bitcoin has changed dramatically. I do not sell my bitcoins and I'm planning on keeping them for a long term and I store them offline.


vdragon
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March 22, 2013, 12:17:39 AM
 #6

With this price increase, gpus will stay in the game for few more months, but buying brand new - its a NO NO at this moment

My USB Erupter GROUP BUY https://bitcointalk.org/index.php?topic=252180.0

Hungary (south) based trader - accepting/sending bank transfers, also willing to meet in person
Jutarul
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March 22, 2013, 12:20:07 AM
 #7

i'm want to spend about 6000USD to buy vga, does it worth now?
no.

The ASICMINER Project https://bitcointalk.org/index.php?topic=99497.0
"The way you solve things is by making it politically profitable for the wrong people to do the right thing.", Milton Friedman
hope2907
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March 22, 2013, 12:35:46 AM
 #8

what do you guy thing about future of Alternate cryptocurrencies like LTC ignore TRC or PPC
Jutarul
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March 22, 2013, 12:41:15 AM
 #9

what do you guy thing about future of Alternate cryptocurrencies like LTC ignore TRC or PPC
necessary

The ASICMINER Project https://bitcointalk.org/index.php?topic=99497.0
"The way you solve things is by making it politically profitable for the wrong people to do the right thing.", Milton Friedman
bitcool
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March 22, 2013, 12:46:49 AM
 #10

For mining Litecoin, yes.

For btc, probably no.
JerimiahJohnson
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March 22, 2013, 05:23:27 AM
 #11

now would be a horrible time to invest in GPU.

If you want to actually gain on your investment I recommend you either BUY BITCOINS!!!!!


which everyone is kicking themselves for not doing so about a month ago

Or if you do not want to want for ASIC vendors - go buy a FPGA miner


FPGA mining is still very profitable at this current value - even with the current difficulty.

Coming soon the Cointamination 16 65nm Chip BFL CLone Board.
Board Hashing: http://bit.ly/1cXs5Rt
ryantc
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March 22, 2013, 12:37:43 PM
 #12

Or if you do not want to want for ASIC vendors - go buy a FPGA miner
FPGA mining is still very profitable at this current value - even with the current difficulty.

please educate me on this "FPGA is still very profitable" statement, I thought FPGA only has advantage in term of power consumption rather than hash power.
JerimiahJohnson
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March 26, 2013, 03:07:04 AM
 #13

well I guess I should of said buy a USED FPGA

because the ROI would be difficult considering the cost of a new unit.


However those who already have FPGA miners or can get them cheap (look in the marketplace)


they are still profitable due to low electrical usage and the high value of Bitcoin

Coming soon the Cointamination 16 65nm Chip BFL CLone Board.
Board Hashing: http://bit.ly/1cXs5Rt
peewee
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March 26, 2013, 04:22:20 AM
 #14

You guys are way overestimating electricity as a factor unless your paying california, etc rates... and then a small office rental or commercial space will easily bring electrical under .09/kwh or be included in the rent for less net $.

That being said he can build a triple 7970 system for 1450.. (I know I have several) or a 6x 7970 system for 2850 (not much savings there due to complexity, cabling, dual psu's, etc)

Each Triple system will yield 2.1 ghash on average and cost about $45/mo in electric if managed right.

You have to resolve yourself to long term timelines to guess at these values.  With roughly 4 systems he'll have 8.4 ghash...which is currently .017% of the network...if the network hits the 100% target then that's .772 BTC/day currently if optimized. (Network at 48k ghash currently)

When Avalon 3 ships and BFL batch order 1 ships he'll have approx. half this share of the  market and be earning .38 BTC/day.  Now in a little over a year we'll see the 4th from avalon?? and a second batch from BFL presumably then doubling the hashpower of the network (some serious guesses made in there).  So 2 year horizon he's still making .19 BTC/Day and in those 2 years he's netted:

277 BTC for his investment and his hardware is resellable at approx 50% of its original cost (2 year radeon resell with a decline in demand from now based on GPU popularity for mining <keeping the 58xx series artificially high now>) = 277 BTC + ~$3000 USD.  Offset by $190/mo in electricity x 24 $4560= -$1560 Net..Total investment is $27.29/BTC

or..Buy bitcoins now

6000/76.00 (5 min ago) = 78.9 BTC...even if he could spend his extra electricity usage over the future, right now he'd still only have 99.47 BTC

I know the rest of the GPU miners know this because we're all happily running our rigs....I can only surmise that this is suppressed because they hope there's some infinitesimal chance that telling people to buy BTC instead of mining gear helps maintain their greater share of the market??

I've gotten used Vids in the last month (all way below market) because people seem to be jumping off the cliff because one batch of ASIC's actually made it to market....sure I'd like to be spending less on electricity but I'm still hugely profitable.

As a matter of fact if you're jumping off the cliff and need a buyer for your 5870, 5970, 6950/70, 6990, or 7870-7970 vids just pm me and we'll get an escrow transaction going right away.

The recipe is simple...just maintain your share of the market to ensure longterm success...why do i have to own one of the first ASIC's if I can still maintain my share of the network with a video card here and there?  Network hashpower isn't easy to double overnight and ASIC production has been less than amazing at this point in terms of total hashpower.

BTC will be worth $1000 each in 10 years mark my words and we'll all be wishing we'd saved them...so my recommendation to you sir is only power up what you can afford on your budget...don't spend your BTC for the electricity costs....if you're salary can support the extra expense of the money on electricity...go for it.  I'd still set aside at least $5k USD longterm if BFL comes through course that's another discussion.  I'd also budget for another used video card added to your system each month to stay ahead of the curve if you can afford it without spending your BTC.




JerimiahJohnson
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March 26, 2013, 06:16:08 AM
 #15

I stand by what I say....


Buying BTC and saving it in the long run is the best investment with the best return you will ever see...



less than a year ago you could buy BTC for $2 each


if you want to make money from Bitcoin at this point in the game and you have not already invested in hardware just go buy as much as you can afford and hold on to it for 10 years


you will be able to send your kids to college and retire.

mark those words.

Coming soon the Cointamination 16 65nm Chip BFL CLone Board.
Board Hashing: http://bit.ly/1cXs5Rt
tacotime
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March 26, 2013, 06:19:34 AM
 #16

Come mine litecoins with us.

It costs 100x more power to mine 1 USD in LTC as compared to BTC with an ASIC.  Get your money's worth -- there's a reason it's more profitable to miner LTC than BTC right now.

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March 26, 2013, 07:00:46 AM
 #17

If you want to earn Bitcoins fast and without risk, buy 100 @ 60$.
Every one or two weeks there is a big selloff, value drops, you buy and wait...

Mining 100 BTC would take forever with GPU, difficulty would be over 10,000,000 before you reach 25 BTC and then more ASIC's kick in...

I say: buy BTC and keep them, it's faster, safer.

Other option: wait for an ASIC. But you have to wait long or pay much.

Unofficial Waves topic: https://bitcointalk.org/index.php?topic=2142722   |   My Waves address alias = magnet
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