Introduce yourself :)

[Thick_dingo]

Newbie here, hoping to get into this bitcoin game! hopefully i'm not joining too late, this looks like this could be lots of fun.

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[jermwerty]

... so here is my story, as I put into an email for a friend:

So you have to realize, when I entered the BTC game I was basically looking for free videocards last Aug/Sept timeframe.  Then coins were a little bit above $5 (falling from $7).  I was figuring if I bought $30 mobos, $80 power supplies, and GPU's for $100 each I could pay off a rig in 3-4 months.  Everytime it paid itself off I have just bought more video cards (why not?)... oh and I did mine $600 USD worth for my vegas trip, that was nice!

So I started with 3 cards.

Now at 14 video cards (will be 18 once I get the latest rig running, still have two cars in the mail!) and with the rise to $9/coin I'm up to $20-30 a day.  As for GPU investment, payback can be $1.50/day per card if you buy cheap $100 cards it refunds their own purchase in a little over 2 months (assuming you already have a PCIE slot and PS wattage to spare).  Or when you are at my level, when buying two cards I can pay that off with my total rig power after as little as 7 days.

So, that's how I see GPUs.

ASICs will be a revolution.  The question is how fast.  When BFL announced their FPGA's they claimed "custom" hardware and twice the output and four times less power than what was actually released.  Problem was it is off the shelf FPGA hardware with custom interface - performed 50% the originally advertised output(mhash) and took 4x more electrical power. Oh and they were 3 months late ... on the first batch!  So BFL claims October.  How fast once they start producing are they getting units out... wait nevermind there is a waiting list... and last time unless you get in on batch #1 you are waiting ... 2-3 months maybe?  So my wild guess is if you order today you will get your ASIC in 5-6months.

Problem is even if the hashrate goes up the network automatically increases difficulty so the "rate" of coins released (~7K coins per day, soon to be ~3.5K in DEC) will adjust to be consistent, and how much profit you make will be dependent on how early of an adopter you are (first guys in will make huuuge bank for a couple weeks/months - if coins hold their value, dumping the market will make prices go down).  If you have 10000 people with ASICs as big as yours or bigger then that payback starts to become a lot longer.  If you were get the first 120Ghash rig  today you would be sitting around 1/150th of the whole network I think?  (if my math is right!)

So if history tells me anything, the real unknown is the reward getting cut 50% in December!  ASICs are a wildcard for sure, and eventually will be the future of bitcoin, but I'm not betting on BFL quite yet.

Right now I am in the process of upgrading cards, so if I do have to sell later I am selling Radeon 6950s - 7970s which will hold their value as they are still rather useful to gamers.  The old 5XXX cards will probably drop like a rock in price (only $90-150 now but get same/better mhash as a 6-series card).  Problem is 7970s are $350-400 and take twice as long to payoff - but will host value the best.

Eh just my $0.02BTC  

[dickcheney]

Hey everyone, been mining for a while but usually don't post of forums unless i have something to say. Just looking to be a little more proactive, ask questions and help where i can.

[Uglux]

Hello fellow Bitcoiners

my name is Anton and i read this forum since early 2011 almost every day. Mined some coins with 4 Cards last year with great nerdy passion. Looking forward to the great ASIC (r)evolution, because electricity is quite expensive here in Germany...

[Ivica]

Long time reader, though wasn't registered. Decided to do so finally. Want to see a little more closely, if Bitcoin has what it takes to become not only superior, but more popular currency comparing to anything else that exists now.

[urbanawesome]

hello, my friends showed me and told me about bitcoins and i was like WHAAAAAAAAAT?
just sounds so awesome in everyway. so far i have not yet gained my first whole bitcoin but im working on it.
want to get more in to all the forums that are discussing bitcoins to learn more.

...if Bitcoin has what it takes to become not only superior, but more popular currency comparing to anything else that exists now.

exciting right?

[gtklocker]

Hi, I'm a software engineer and Quake player.

[Kneedle]

Kneedle from the northwest!  Currently at ~ 8mhash and tapping my fingers as fast as I can for my Jalapenos!

[Bit-CoinSite]

Hi I'm mainly here for tech support, and I'm also interested in investing my BTC.  I mine a bit also, but not on anything special.

[freeAgent]

I guess I'm stuck in the room with the white, padded walls until I prove I'm not a spambot/troll/idiot, so here it goes.  I just joined the forum after starting mining a while ago on my gaming rig (Radeon HD 7950).  I recently preordered a BFL Jalapeno and want to make sure I get the most out of Bitcoin.  I'm primarily mining as a way to obtain Bitcoin without paying transaction fees involved with converting USD to BTC.  I'd also like to support the network since I think Bitcoin is a neat idea.  I'll see you around.

[BitcoinINV]

Welcome all you new and old bitcoin users

[BitMonkey]

Been Coining since early 2011. On and Off really. Excited to join this board.

[nima]

Hi fellow miners
Another newbie just joined the forum. Happy to be here 

[BitcoinINV]

Been Coining since early 2011. On and Off really. Excited to join this board.

Hi fellow miners
Another newbie just joined the forum. Happy to be here 

Welcome New members

[frozenkai]

Hi I am hear to learn more about bitcoins and to ask a few questions about mining hardware.
I am mining on slush's pool at about 110mhash/s with a 6670
I recently started mining bitcoins and I have a few 7970's on the way
What drivers and mining software should I use for the 7970?

[freeAgent]

Hi I am hear to learn more about bitcoins and to ask a few questions about mining hardware.
I am mining on slush's pool at about 110mhash/s with a 6670
I recently started mining bitcoins and I have a few 7970's on the way
What drivers and mining software should I use for the 7970?

The current AMD drivers are as good as anything.  You also need to get the AMD App SDK: http://developer.amd.com/sdks/amdappsdk/downloads/pages/default.aspx

As far as mining software goes, the easiest one I've found to use is GUIMiner.  I haven't bothered with the others, but I don't think they're significantly faster, if any faster at all.  By all means, someone correct me if I'm wrong

[BitcoinINV]

https://en.bitcoin.it/wiki/Mining_hardware_comparison Check that out fellas all the graphics and what they push with what software and settings

[BTC4Victory]

Joined over a year ago and then mostly lurked here, but have been following Bitcoins with great interest and letting a couple of project ideas marinate in the meantime.  Now looking to get out of the penalty box with another couple of posts, so I can discuss them on the non-newbie sections...

[Firesalk]

I've been lurking around these boards for a while, so I decided to get in on the action. I've done a bit of mining over the past year or so, but it's mostly been recreational. It's nice to see how many new services are available to Bitcoin users nowadays.

[BitcoinINV]

welcome fellas