Miners quitting en masse -- so it begins.

[CNMOH]

Is spreading FUD all you're good for?

[Coolhwip]

Apparently the 7xxx series will have about the same mining power as the current cards, as AMD is more than happy with the shaders they have now

The shaders they have now are gone, no more VLIW5/4 for HD7K because it's a completely new architecture which I linked you to. You were talking out of your ass, I corrected you. Deal with it.  

[Jack of Diamonds]

AndrewMatthew, you say your in this for the fun, yet you are by far the biggest buzz kill on this forum! Doesn't seem like you're having much fun at all dude, maybe you should sell your gear and piss off already, lol.

Haha, true. Brilliant.
I love it when people say they are into bitcoins for "fun" yet they are as hostile as a deprived swarm of bees, spread negativity and stress about price fluctuations every day.

(Which is 95% of the forum. Nearly nobody just relaxes and takes things as they come)

Maybe "fun" is just a nervous substitution for "I just want to scrape any $$ left and get the hell out of here, out of my way idiots".

[teflone]

You guys! and me included now..

Are feeding the BIGGEST troll on this board..

The sky has been falling for Angelus for many years...

[Mousepotato]

blah blah blah, stop mining so the difficulty will go down for me, don't let the door hit you on the way out
Between the "your dumb because you're paying too much for your 5830s" and this, we know, you really want to scare people to quit

Every time I see your name, I can't help but say it in a frantic Doc Brown voice.

[skyhigh]

OP your life must suck bigtime

[AngelusWebDesign]

It's sad that so many of you kids can't have an intelligent discussion. Oh well.

My fault for looking in the wrong place.

At any rate, I've never seen a more textbook case of "shoot the messenger".

No one is finding fault with anything I said -- just me personally.

Hey, I'm sorry if your life is stressful, if your mining profits have gone down, if you don't know what to do at this point -- but don't blame me. It isn't my fault.

Matthew

[Man From The Future]

Quitting bitcoin mining is a wonderful idea. They are much safer now. Unfortunately the quitters are just passing the danger on to others who may be more apathetic or ignorant about safety.

The only harmless mining rig is the one donated to a local library.

Until one of the graphics cards catches fire.

[1.21gigawatts]

No one is finding fault with anything I said -- just me personally.

No one cares about what you have to say because you have an alternate agenda that is different than the diarrhea spewing out of your mouth.
I've already proved you're a hypocrite.
If you're a messenger, you would be selling your mining equipment now instead of picking up more.
You're just a troll with mining equipment.

[lacedwithkerosene]

Quitting bitcoin mining is a wonderful idea. They are much safer now. Unfortunately the quitters are just passing the danger on to others who may be more apathetic or ignorant about safety.

The only harmless mining rig is the one donated to a local library.

Until one of the graphics cards catches fire.

A de-commissioned mining rig then.

[SgtSpike]

Let's see....

$1100 worth of equipment I wouldn't have purchased otherwise.
1900MH/s, equivalent to $20.88/day at current market rates.
Equivalent to $626.40/month.
Less $100/month in electricity (give or take $25, I know it's around there though) equals $526.40.

At worst, I expect the hardware will be worth half of what I bought it for a year from now.  So I'll lose $550 in a year.  That's only $45.83/month I need to keep up on.

So I have $526.40 of pure profit per month at the current price/difficulty ratio, and you're worried about me not accounting for my $45 in depreciation every month?

Enough with the FUD already.  Seriously.

[rograz]

Found some refurbed 5870s for 220$ each and a lone 5850 for 120$ with full warranty, sorry some doomsday math isn't gonna stop me from buying those and adding to my growing pile of hardware, all about finding hardware at the right price point. I can understand if the "I've got 10 rigs filled with 6990s that cost me 800$+ each cos I just HAD to have them" crowd is starting to get a bit worried tho 

[bluefirecorp]

I'm glad more people are selling their cards, more cards for me.

As for the cards losing their value, all my cards are under a life time warranty, meaning if they go bust, I get a new card, free of charge (other than shipping). Another amazing thing, is if the company is out of stock, they send me a free upgraded card.. In case I'm missing something here, my cards don't lose value (ok, they do, if the company fails..even then, I can still write it off as a tax deduction..depreciation of computer hardware..lawlz)

Just my 2 cents.

I've had 2 cards die in the past, from different manufacturers with lifetime warranties, an they were both replaced with current day equivalents of the same cards, not "upgraded" to the same tier of card, as you would suggest.

the last one, my prized and beloved top of the line 8800 ULTRA was replaced with a GTX 260. the 260 preforms about 20% better and sells for about the same price on ebay, so its pretty much the same card, but its by no means the High end card of it's line that the 8800 was 

Unless I'm missing something as to the terms of your warranty.

It was still an upgrade. Say in another 10 years, my cards will be like the ancient series. Say I had a 6800 right now, it dies next year. They'd be upgrading to way beyond anything that the 6800 could preform at. Your cards might of not had a big improvement, because they were only about 3 years old? Right?

[AngelusWebDesign]

Found some refurbed 5870s for 220$ each and a lone 5850 for 120$ with full warranty, sorry some doomsday math isn't gonna stop me from buying those and adding to my growing pile of hardware, all about finding hardware at the right price point. I can understand if the "I've got 10 rigs filled with 6990s that cost me 800$+ each cos I just HAD to have them" crowd is starting to get a bit worried tho 

I'll speak to you because you're actually capable of rational thought:

I never said it was foolish to spend another dime on mining equipment. Only someone with an IQ of 80 who can't think would get that from my posts. I clearly said I wasn't selling; so it's obviously not "the only thing to do" or what I'm advocating.

I just said that I understand where they're coming from, and that there are a lot of "them" doing so right now. They have a point of view that doesn't seem to be well-represented on here.

At this point, expansions have to be intelligent, deliberate, and low in cost per MH.  No more filling one's cart at Best Buy with whatever ATI cards they offer "because I'm gonna have this gear paid for in a week!"  That might have been true in late May, but not anymore.

[gigabytecoin]

Lol. Busted.

[KarlSpaat]

Miners quitting???
Have you watched the Network Hashrate the last days. It grew by 40% to over 14 THash/s which means the next difficulty will be about 1.800.000. I would like to see someone quitting...
And the Bitcoin exchange rate dropped to 12 Euros per BTC, with the next difficulty and a worse exchange rate you cant invest in new mining hardware anymore.

[Fuzzy]

It was still an upgrade. Say in another 10 years, my cards will be like the ancient series. Say I had a 6800 right now, it dies next year. They'd be upgrading to way beyond anything that the 6800 could preform at. Your cards might of not had a big improvement, because they were only about 3 years old? Right?

Damn, you're right, should've waited a year or two before RMAing it..

Next time... 

[film2240]

FYI, I offered the guy $175 for his 5870 -- that was it.

At this point, I can only afford to buy used cards when it's a good deal, since I don't want my payback period to be anything longer than 50 days. 50+ days is too great of an unknown.

You should meditate on the wisdom: "Fools rush in where angels fear to tread."

I wonder how long the payback is on a Radeon HD 6950 GPU that cost me £178.50 (equivalent $286.51).I know that this may not be the best value for mining power but I don't care.Why?Because my GPU is used for other things like gaming,research,film making/editing,encoding as GPGPU is far faster than my Core i7 920 CPU with monster sized HD 1080P raw,captured footage.So  when mining becomes unviable,it's still a solid investment for me as this'll boost my film making work by leaps and bounds for my uni work (and degree) compared to my old Radeon HD 4670 GPU (Even though it's Oc'd to the max,it simply can't cope anymore with my work or mining)

Do you guys think this upgrade path is a sound one or is it stupid for my situation?

[AngelusWebDesign]

It sounds like you're not really talking about buying equipment for mining, but rather upgrading your professional equipment which happens to work well for mining.

[film2240]

It sounds like you're not really talking about buying equipment for mining, but rather upgrading your professional equipment which happens to work well for mining.

Angelus,your understanding of my setup is well, faultless (perfect) as I'm rely on it for professional filmmaking as well as mining.

I'd also like to give a piece of advice to all those who feel like that they got a raw deal in mining due to rising difficulty.

My advice is:If you already upgraded your computer just for mining,and mining then becomes unfeasible,don't despair as you will still have serious firepower under the hood for all your working and gaming needs.

This is what i've been doing as I've adopted to mining rather late so sure it's less profitable now than before,but I say keep mining while the train's still moving.