Are GPUs still relevant and for how long
wowc8:
Here's my take:
Quote from: aznewsh on June 02, 2013, 05:41:30 PM
I have tried to do a lot of research and used calculators etc, however there is a lot of guesswork and I would appreciate more informed opinions.
With ASICs on the horizon - If I were to invest in GPUs:
1) Am I likely to get at least my money back?
Right now, yes. It will depend on how many months you will mine 24/7, but you can earn your money back. If I had to guess long-term the answer will still be yes because there are some promising Alt coins out there that are gaining momentum.
2) Are there realistic options in Alt currencies that the GPU could be useful for vs ASIC - can ASIC at this point or in the near future be used in Alt?
There are several Alt currencies that you can look at for GPU mining. I like WDC, DGC, BitBar, and Litecoin. Check out http://www.coinchoose.com/ for profitability compared to Bitcoin or Litecoin.
And, yes/no, ASIC machines will not work well on scrypt based Alt coins due to the memory demands of the scrypt algorithm. There's only a few Alt coins that an ASIC machine will work on right now, just check which alg the coin uses. ASICs like the SHA-256 alg.
3) Are there any realistic ASIC options at this point, all the sellers seem rather dodgy to me?
You should define "realistic." If you mean more affordable (Around the $1000 mark) then the answer is yes, but you may have to wait (pre-order), or buy from eBay.
4) What other angles could I look at other than actually buying Bitcoin of course?
One option that I haven't seen on here yet is trading BTC on an exchange. Be careful though because loosing money is almost easier than earning it.
Feel free to add any other pearls of wisdom that spring to mind...
Thanks for your time.
massnerder:
Quote from: suryc on June 04, 2013, 09:31:48 PM
Do you think there will still be a market for resale to gamers when AMD releases the 9xxx series later this year (they are skipping 8xxx)?
Best Buy still sells 6xxx series cards and lower. A quick search on ebay shows several 4xxx, 5xxx, and 6xxx series cards currently being bid on. So, yes.
Rakessh:
Quote from: massnerder on June 05, 2013, 12:34:59 AM
Quote from: suryc on June 04, 2013, 09:31:48 PM
Do you think there will still be a market for resale to gamers when AMD releases the 9xxx series later this year (they are skipping 8xxx)?
Best Buy still sells 6xxx series cards and lower. A quick search on ebay shows several 4xxx, 5xxx, and 6xxx series cards currently being bid on. So, yes.
And since they're twice the price of equal games wise performing nVidia cards, one could probably deduce they are bid on by hobbyist bitcoin miners, eh? 8)
(The ones on eBay that is)
DPoS:
Quote from: af_newbie on June 04, 2013, 05:07:00 PM
Quote from: aznewsh on June 04, 2013, 03:57:31 AM
Thank you all for taking the time to provide feedback - I am going to try a 3 card rig with the hope of not losing too much and will treat it as an hobby, then watch how things develop...
You have to treat it as a hobby. Less stress.
Besides, mining it is not that expensive comparing to other hobbies.
Not too many hobbies let you earn back a bit and in most cases, pay for themselves.
exactly.. ask how many 'photographers' ever make anything back from all the lenses, etc they throw down on
GenTarkin:
Quote from: suryc on June 04, 2013, 09:31:48 PM
Quote from: GenTarkin on June 04, 2013, 06:43:05 PM
they are relevant as long as you can turn a profit from them over power. They can always be sold for nearly what you paid, given they are 7xxx series...gamers will always eat em up.
Do you think there will still be a market for resale to gamers when AMD releases the 9xxx series later this year (they are skipping 8xxx)? It is not officially announced by AMD, but seems to be widely reported that its coming in late 2013.
http://www.mcvuk.com/news/read/amd-confirms-new-volcanic-island-gpus-for-2013-launch/0115398
Yeah, I would think so... it may be at a lower price point, but our GPU's , I would highly doubt will be useful in mining till that time(9xxx)...so most likely the 7xxx from miners would hit months before any new product comes out.
Worse case is one can only get 50-60% what they paid for a 7xxx GPU when done mining...but as long as your mining made up for the rest of it and had a little profit in addition then its still worth it.
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