Tomintx
Member
 Offline
Activity: 69
Merit: 10
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June 14, 2013, 06:00:24 PM |
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Surprise! PG&E Tiered Rates!
I blasted all the way to Tier 5. That means I win? Right?
It means you should move out of CA. |
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"If you don't want people to know you're a scumbag then don't be a scumbag." -- margaritahuyan
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Bobs Yerunkle
Member
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Activity: 90
Merit: 10
Untitled
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June 14, 2013, 06:28:11 PM |
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Surprise! PG&E Tiered Rates!
I blasted all the way to Tier 5. That means I win? Right?
It means you should move out of CA. I tend to agree. |
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Kinetic915
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June 14, 2013, 07:11:26 PM |
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Mine scrypt for now. It will keep profitability at least for alittle. I'm waiting for the difficulty to stabilize after the majority of asics are shipped (or turn out to be scams) then sell my gpus and buy an asic or whatever will be equivalent then.
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Kinetic915
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June 14, 2013, 07:52:09 PM |
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Got my electricity bill. Tier 2! After all the extra fees, ECA_VEA_CRPSEA_CRPSEA, etc The per kw/h comes to around 0.22399 plus 10% of the subtotal. So friggin expensive in california. Right now I'm barely making profit. Probably won't be mining for much longer  |
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ISAWHIM
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June 15, 2013, 02:51:17 PM |
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Mine alt-coins... save power and make real money... BTC is dead to GPU's... We are all moving or have moved to alt-coins... Litecoins Feathercoins Novacoins Worldcoins Mincoins Digicoins Memecoins Fastcoins etc... Places like www.Multipool.in have ports that simply mine whatever coin is the most "profitable" those few minutes. (Eg, lowest Diff and highest trade-value. Port 7777 I believe. Average value is greater than 120% of BTC, and up to 210% on some coins, when they sell. EG, if mining BTC earns you $100, these earn you $120-$210 when you mine them.) Or, jump on a coin of your choice. Great solo-mine coins are... (You actually see returns within hours, not days.) Memecoin Fastcoin Mincoin Worldcoin The others are sort-of pool dependent, for the best value, over solo mining. (The diff is higher and you get more on average from pools.) |
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FloridaBear
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June 15, 2013, 03:00:12 PM |
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Mine alt-coins... save power and make real money... BTC is dead to GPU's... We are all moving or have moved to alt-coins... Litecoins Feathercoins Novacoins Worldcoins Mincoins Digicoins Memecoins Fastcoins etc... Places like www.Multipool.in have ports that simply mine whatever coin is the most "profitable" those few minutes. (Eg, lowest Diff and highest trade-value. Port 7777 I believe. Average value is greater than 120% of BTC, and up to 210% on some coins, when they sell. EG, if mining BTC earns you $100, these earn you $120-$210 when you mine them.) Or, jump on a coin of your choice. Great solo-mine coins are... (You actually see returns within hours, not days.) Memecoin Fastcoin Mincoin Worldcoin The others are sort-of pool dependent, for the best value, over solo mining. (The diff is higher and you get more on average from pools.) See returns? Yes, you may see a few mincoins in a few hours, becuase they're worth 0.000437 BTC each. You'd need nearly 2300 for 1 BTC. According to coinchoose, it is not really any more profitable to mine altcoins--Mincoin may be 200% of BTC right now, but it has averaged only 90% of the profitability. As more people join pools like multipool.in, it will ensure that whack-a-mole is played more effectively, knocking down the most profitable altcoin. |
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Kinetic915
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June 15, 2013, 06:07:09 PM |
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Rather then jumping around I think it's a good bet to bet on one or two coins and put your power there.
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zvs
Legendary
Offline
Activity: 1680
Merit: 1000
https://web.archive.org/web/*/nogleg.com
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June 15, 2013, 08:58:25 PM |
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i get discounts for using more electricity
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sinner
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June 16, 2013, 04:16:00 AM |
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i get discounts for using more electricity
where/how? |
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Armchair Miner
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June 19, 2013, 01:22:09 AM |
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From a post above in this thread:
"why not buy and sell some of those asicminer usbs on ebay? make double your money that way
It's a good idea but apparently Ebay is canceling auctions related to Bitcoin mining."
To be more specific, Ebay has cancelled AN auction related to Bitcoin mining.
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Damnsammit
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June 19, 2013, 03:58:09 PM |
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Mine scrypt...
I highly doubt there will ever be an ASIC for scrypt, so GPUs are going to be the norm for scrypt mining.
The main question is will ASIC mining of BTC kill all cryptocurrencies? It could because it will force people who are still using GPUs to mine SHA256(BTC) to switch to Scrypt(LTC) if they want to make any coin. This will just make LTC/FTC/etc more difficult to come by.
I just started mining last month, but overall I have only put in $140 to my "rig". I bought a 5850 for $80 and a 850W PSU for $60, and slapped them into my PC with a 6950 I already had. I get about 800MHash/s for BTC (800KHash/s for scrypt).
I've only made like $30 so far, and will likely piss that away with gambling, but I did it more for fun and experimentation.
My advice: Don't buy new hardware if you can avoid it. Spend $60-80 on a 5850 instead of $300 on a 7950 unless you just have a lot of extra income OR you want to upgrade your graphics card anyways.
I plan on getting a 7950 or 7970 next month but that will be going in another desktop that I will only mine with while I sleep/work.
I'm a n00b though, so I could be wrong, but I think there is still profit to make here. A lot of people pay some ridiculous amounts for electricity, too. I'm in Texas and pay $0.06/kwh... so it costs about $40 to leave my computer on all month. On average, I make ~$2-3/day right now, so I get a small profit, but it's not really about the money for me as much as it is the experience.
It's a way better hobby than smoking rock and playing dice.
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FloridaBear
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June 19, 2013, 10:18:53 PM |
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Mine scrypt...
I highly doubt there will ever be an ASIC for scrypt, so GPUs are going to be the norm for scrypt mining.
Hard to tell. I think there are at least FPGA development efforts already underway. If LTC hangs around and becomes significantly more profitable than BTC due to hashrate not increasing as quickly as BTC, there might be incentive to do an ASIC run. The main question is will ASIC mining of BTC kill all cryptocurrencies? It could because it will force people who are still using GPUs to mine SHA256(BTC) to switch to Scrypt(LTC) if they want to make any coin.
Yes, eventually all GPU miners will switch to scrypt as BTC hashrate rises and LTC and other scrypt coins become more profitable. That is, unless it doesn't become more profitable. This will just make LTC/FTC/etc more difficult to come by.
Huh? All cryptos become easier to come by as they get mined (there is more in circulation). Difficulty adjusts to keep production constant--I don't understand the logic here. I just started mining last month, but overall I have only put in $140 to my "rig". I bought a 5850 for $80 and a 850W PSU for $60, and slapped them into my PC with a 6950 I already had. I get about 800MHash/s for BTC (800KHash/s for scrypt).
I've only made like $30 so far, and will likely piss that away with gambling, but I did it more for fun and experimentation.
My advice: Don't buy new hardware if you can avoid it. Spend $60-80 on a 5850 instead of $300 on a 7950 unless you just have a lot of extra income OR you want to upgrade your graphics card anyways.
I plan on getting a 7950 or 7970 next month but that will be going in another desktop that I will only mine with while I sleep/work.
I'm a n00b though, so I could be wrong, but I think there is still profit to make here. A lot of people pay some ridiculous amounts for electricity, too. I'm in Texas and pay $0.06/kwh... so it costs about $40 to leave my computer on all month. On average, I make ~$2-3/day right now, so I get a small profit, but it's not really about the money for me as much as it is the experience.
It's a way better hobby than smoking rock and playing dice.
Absolutely. Just as people gamble (and expect to lose), this can be a fun gamble as well. Personally, I'm trying to invest only in opportunities that appear to have a positive ROI. But everyone is different! |
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zvs
Legendary
Offline
Activity: 1680
Merit: 1000
https://web.archive.org/web/*/nogleg.com
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June 20, 2013, 01:18:06 AM |
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i get discounts for using more electricity
where/how? texas by using a different plan, with a guarantee to use x amount of kilowatts i.e. plan A charges you $20 a month (flat fee) and 6c per kWh plan B charges you $50 a month (flat fee) and 5c per kWh, provided you use a minimum of 3000 kWh. if you don't, you get billed for 3000. if you use 3000, it's a wash. if you use more than 3000, then it's a discount ed: ok, i just checked. plan A is $20 per month, the next one is $40 per month. there's also one where there's a 'minimum bill' of $500, where you can get electricity for 4.16c/kWh, that may be business only though |
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lazydna
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June 20, 2013, 01:19:34 AM |
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i get discounts for using more electricity
where/how? texas by using a different plan, with a guarantee to use x amount of kilowatts i.e. plan A charges you $20 a month (flat fee) and 6c per kWh plan B charges you $50 a month (flat fee) and 5c per kWh, provided you use a minimum of 3000 kWh. if you don't, you get billed for 3000. if you use 3000, it's a wash. if you use more than 3000, then it's a discount oh texas, only you would charge more for conserving energy. |
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zvs
Legendary
Offline
Activity: 1680
Merit: 1000
https://web.archive.org/web/*/nogleg.com
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June 20, 2013, 01:22:34 AM |
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i get discounts for using more electricity
where/how? texas by using a different plan, with a guarantee to use x amount of kilowatts i.e. plan A charges you $20 a month (flat fee) and 6c per kWh plan B charges you $50 a month (flat fee) and 5c per kWh, provided you use a minimum of 3000 kWh. if you don't, you get billed for 3000. if you use 3000, it's a wash. if you use more than 3000, then it's a discount oh texas, only you would charge more for conserving energy. well, natural gas is so cheap that some wind farms got shut |
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zvs
Legendary
Offline
Activity: 1680
Merit: 1000
https://web.archive.org/web/*/nogleg.com
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June 20, 2013, 01:29:09 AM |
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Damnsammit
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June 20, 2013, 01:03:14 PM |
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This will just make LTC/FTC/etc more difficult to come by.
Huh? All cryptos become easier to come by as they get mined (there is more in circulation). Difficulty adjusts to keep production constant--I don't understand the logic here. I just meant that as more GPU miners leave BTC and flock to the scrypt-mined currencies, then the hashrate of those currencies will increase meaning that a 800-1200KHash rig will not generate as many coins as it does now. So it would obviously not be as profitable (if profitable at all) to mine the scrypt coins depending on how much higher the hashrate climbs, and the value of the coins. So yes, they will be easier to come by, but the relative ease of mining for them with a GPU rig could be exponentially increased depending on how many GPU rigs switch over from BTC to LTC/FTC/etc |
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rovchris
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June 20, 2013, 01:33:51 PM |
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This was due to ASICMiner having some kind of problem with their Data Centre I believe. If you have a look at the charts on their website you will see that it coincides with drop in hash rate. Interestingly it shows that 1 company now has the power to impact the entire network. If they lost all power to the data centre it would have a massive impact on the overall network performance. Personally I feel ASICMiner are far too large and could seriously damage Bitcoins. The market share they have goes completely against the decentralisation of Bitcoins. But they are greedy bastards so I don't expect them to give up any market share. Next difficulty rise and GPU's will not be viable any more. The main problem being it is impossible to get your hands on an ASIC and it will remain that way for a while. Once they do become mainstream the hash rate of the network will be so high that you will need very deep pockets due to the number of devices you will need to buy. This problem never occurred when people started GPU mining as GPU's could be purchased next day by anyone - this jump to ASIC's is going to purge out a huge number of miners and just leave a small minority with ASIC's. It will be interesting to see what happens. It may even drive the Bitcoin price lower as they can be mined more efficiently. The more efficiently something can be produced generally the lower the value. |
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massnerder
Sr. Member
Offline
Activity: 308
Merit: 250
No power in the 'verse can stop me.
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June 20, 2013, 02:49:04 PM |
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...
The main problem being it is impossible to get your hands on an ASIC and it will remain that way for a while.
Once they do become mainstream the hash rate of the network will be so high that you will need very deep pockets due to the number of devices you will need to buy.
This problem never occurred when people started GPU mining as GPU's could be purchased next day by anyone - this jump to ASIC's is going to purge out a huge number of miners and just leave a small minority with ASIC's.
It will be interesting to see what happens.
It may even drive the Bitcoin price lower as they can be mined more efficiently. The more efficiently something can be produced generally the lower the value.
True, but it will also concentrate the mining of bitcoins into fewer hands. The fewer there are to sell a resource, the higher the price (assuming demand stays the same). Definitely will be interesting to see how it all unfolds  |
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