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Author Topic: Mining rigs "after Bitcoin"  (Read 6678 times)
lardycake
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June 15, 2011, 07:09:03 AM
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Don't take this the wrong way, I do not think mining is going to die out as soon as some on these forums say. But I do like to think of what we will do with the hardware "after" bitcoin whenever that may be.

Basically I'm looking for any other opportunities to rent out processing power, are there any out there? And if not perhaps there is a market to set up a system for brokering the trade of processing power for companies that could use it?

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Jack of Diamonds
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June 15, 2011, 07:31:22 AM
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Not really, at least anything as profitable. Then again, if price does keep up with difficulty, bitcoin mining will be with us for a long time.
If it stagnates at $20 while difficulty goes into 8 million, then yep, it's going to die until diff. goes down again.

If you want to go in the grey market though, a nice BTC cluster could be useful for cracking MD5 hashes or various passwords.
Some people will pay for consistent daily performance.

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Dhomochevsky
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June 15, 2011, 10:06:09 AM
 #3

Guys, please learn the way Bitcoin works, this thing is discussed to death. As long as Bitcoin will be a viable currency (which, as things look now, seems to be a REALLY long time) mining will exist. Mining doesn't only mint new coins and puts them in circulation, as most people here seem to think. It also verifies transactions and secures the network. If mining is done with, Bitcoin is done with. They won't exist one without the other. Also, miners don't get money from discovered blocks only. They receive the fees from transactions inside discovered blocks. This will more or less compensates the loss in income from reducing rewards over the years.

So the only way "after Bitcoin" exists is if Bitcoin dies. Which, hopefully, won't happen. And seeing the momentum it gains, this becomes more unlikely with each day passing.
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June 15, 2011, 10:21:31 AM
 #4

Don't take this the wrong way, I do not think mining is going to die out as soon as some on these forums say. But I do like to think of what we will do with the hardware "after" bitcoin whenever that may be.

Basically I'm looking for any other opportunities to rent out processing power, are there any out there? And if not perhaps there is a market to set up a system for brokering the trade of processing power for companies that could use it?

I think of the people who were thinking this way back when BTC were worth pennies and decided not to start mining. Take a chance. At most, you will lose a few bucks.

As long as you're not scraping buy to begin with, I think it's a decent project for the average techie.

Help Bitcoins by buying clothes, technology, books, etc. through people/stores that accept BTC. This will increase overall value of BTC as well as mitigate unnecessary bank transaction fees.

My address -
1EM9HGg1SEa5Bux1rVEPxGqGSfNTTc9EkC
luffy
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June 15, 2011, 01:20:55 PM
 #5

it is also possible for other internet coins to be appeared, thus mining will not die for sure Wink
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June 15, 2011, 02:10:53 PM
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Take on the Chinese @ WoW gold mining Smiley
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June 15, 2011, 02:19:35 PM
 #7

I bought two 6950s (unlocked to 6970) and one 6970 lightning. When mining dies, well, eventually BC3 is coming so I don't really care. I will be happy if I can mine until November and hopefully pay off these three new GPUs that I bought.

If not, still a win-win situation for me.

 Grin

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June 15, 2011, 07:57:00 PM
 #8

I bought two 6950s (unlocked to 6970) and one 6970 lightning. When mining dies, well, eventually BC3 is coming so I don't really care. I will be happy if I can mine until November and hopefully pay off these three new GPUs that I bought.

If not, still a win-win situation for me.

 Grin

Haha I am with you.  Bought a GPU, will play games on it.  For the first time my hobby might actually pay for itself!

Like my post? Consider donating: 1ENPBz6zZa1maehG48PaYzYhPjodN1NkTF
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goldcd
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June 15, 2011, 11:41:32 PM
 #9

As long as Bitcoin will be a viable currency (which, as things look now, seems to be a REALLY long time) mining will exist.

And there's the nub of it. Either bitcoin is:
a) A viable currency that will continue forever more.
b) Something that seems to be giving us free money.

Or to put it even more simply - are you mining coins to sell them for cash, or mining them to buy goods/services?
Now there are always going to be those people who will mine and sell them - but these people are only supported by people buying newly minted coins for cash.
So what motivates these purchasers? Either they want to buy/sell with them - or they're just hoping the price goes up and they can sell for a profit.
I dunno how this will all end up in the short term, but I just have a sneaky suspicion that 90% of people involved in this are looking at their bitcoins in dollars.

Say you are mining 2 coins a day. Say you can't just swap them for cash - how are you going to spend your bitcoins?
fascistmuffin
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June 16, 2011, 12:43:38 AM
 #10

Say you are mining 2 coins a day. Say you can't just swap them for cash - how are you going to spend your bitcoins?

That's a good question.

When I first got a good chunk of coins, I looked at the forums to see what I could actually get with them. It turned out the answer was not much. I'd love to use them for something more than trading them for cash, but sellers aren't really jumping on board with this currency, and I don't blame them with the current exchange trends. I haven't looked at Silk Road yet, but this also bring up another problem: I'm not looking for anything.

I'm a rather minimal person. I have my computer(s), video games, some food, and a bed. I'm pretty content with what I have. Bitcoin was an excuse to myself to set up another machine (which I really enjoy doing). Hopefully there will be opportunities in the future to use bitcoin for something I actually need/want, but for now I think I'll be saving them away until that time come.
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June 16, 2011, 03:55:36 PM
 #11

I bought two 6950s (unlocked to 6970) and one 6970 lightning. When mining dies, well, eventually BC3 is coming so I don't really care. I will be happy if I can mine until November and hopefully pay off these three new GPUs that I bought.

If not, still a win-win situation for me.

 Grin

Evil Genius, bought for $3 on GoG, plays just fine on a 6870 at minor overclock and AGGRESSION=7

Cheesy

find something useful in my  post? 13FMjxBshHfrRPLzz41t5UcWyKXWwpoTTt
lessPlastic
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June 17, 2011, 04:24:13 AM
 #12

Guys, please learn the way Bitcoin works, this thing is discussed to death. As long as Bitcoin will be a viable currency (which, as things look now, seems to be a REALLY long time) mining will exist. Mining doesn't only mint new coins and puts them in circulation, as most people here seem to think. It also verifies transactions and secures the network. If mining is done with, Bitcoin is done with. They won't exist one without the other. Also, miners don't get money from discovered blocks only. They receive the fees from transactions inside discovered blocks. This will more or less compensates the loss in income from reducing rewards over the years.

So the only way "after Bitcoin" exists is if Bitcoin dies. Which, hopefully, won't happen. And seeing the momentum it gains, this becomes more unlikely with each day passing.

So you're saying that mining will still make money after all of the coins are mined out? How will this compare to current profits?
Skunkworks
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June 17, 2011, 05:45:34 AM
 #13

My rigs will be used to drive personal video wall(s)

Got a big lot of 30 LCD monitors in january and I've been set on making a video wall ever since.
Comepradz
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June 17, 2011, 06:25:15 AM
 #14

My rigs will be used to drive personal video wall(s)

Got a big lot of 30 LCD monitors in january and I've been set on making a video wall ever since.

ahaha I like it Grin

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Swishercutter
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June 17, 2011, 08:25:50 PM
 #15

My rigs will be used to drive personal video wall(s)

Got a big lot of 30 LCD monitors in january and I've been set on making a video wall ever since.

Awesome, I never thought someone would find a way to get more heat output than we already have. Smiley
Freakin
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June 17, 2011, 09:03:37 PM
 #16

I bought two 6950s (unlocked to 6970) and one 6970 lightning. When mining dies, well, eventually BC3 is coming so I don't really care. I will be happy if I can mine until November and hopefully pay off these three new GPUs that I bought.

If not, still a win-win situation for me.

 Grin

Evil Genius, bought for $3 on GoG, plays just fine on a 6870 at minor overclock and AGGRESSION=7

Cheesy

haha that game is so much fun. It's like SIM-villain
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July 09, 2011, 06:53:24 PM
 #17

I bought two 6950s (unlocked to 6970) and one 6970 lightning. When mining dies, well, eventually BC3 is coming so I don't really care. I will be happy if I can mine until November and hopefully pay off these three new GPUs that I bought.

If not, still a win-win situation for me.

 Grin
I suck at FPS games, but I'm still going to try BC3. It looks AMAZING from the Youtube previews I've seen!!!

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July 10, 2011, 09:18:10 AM
 #18

Render farm.

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Nicolai Larsen
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July 10, 2011, 08:01:43 PM
 #19

I bought two 6950s (unlocked to 6970) and one 6970 lightning. When mining dies, well, eventually BC3 is coming so I don't really care. I will be happy if I can mine until November and hopefully pay off these three new GPUs that I bought.

If not, still a win-win situation for me.

 Grin

Haha I am with you.  Bought a GPU, will play games on it.  For the first time my hobby might actually pay for itself!

Hehe ^^

Still hope my two HD5850 will be able to run BF3 when it comes out in october.

BTC: 1GUH16sneWgKuE1ArXrnYKN3njuherJQi1
TheSocialHermit
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July 12, 2011, 04:27:20 AM
 #20

Like most everyone here, I bought a better GPU so I might as well game on it Grin The only reason I was mining was to get a platform upgrade for the desktop and now that I've don't that I will do a little bit of this namecoin thing and see if I can pick up a SSD to go with it. As for "After" I'll be gaming and enjoying all that high quality video that comes with it Grin
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