GPU mining is dead now.

[atariguy]

$7.44 for bitcoin vs $12.98 for litcoin.

As for burning out graphic cards due to overwork in a hot climate, run your air intakes under the house or design a cooling system to make the max out of your building, or rent a basement space/storage in a highrise building and install an air transfer system and heat the lower levels or water for free... the landlords will love you.

That's a lot of work for $7.44 or $12.98 a day!  

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[zvs]

I still can't understand how you are failing to grasp this.

Say I have 1x 7950. It can achieve 590mH/s mining Bitcoin or 650kH/s mining Litecoin.

This currently equates to 0.139 Bitcoins per day (currently $1.24 in USD), or 0.777 Litecoins per day (currently $2.31 in USD).

Therefore Litecoin is 187% more profitable than Bitcoin on a 7950. Where you are getting this information that mining Litecoin earns less than Bitcoin I do not know.

THANK YOU for posting NUMBERS and not speculation.
THANK YOU.
This makes intelligent conversation based on metrics that are real.

First a 590Mh miner does not make 0.139BTC  it makes 0.0139BTC.  However my calculator puts that at $1.19USD so your main point is still valid, the USD money in the end is about what you said (with the dropping BTC value from the time you posted until the time I posted).

I get 650Khash = .77 LTC (2.05019 USD)  (also dropped from your post time to my post time)

So yes that would appear more profitable!
You are right.
But how do you get 650K/hash when it was 590 M/hash?

Is there a mining rate converter somewhere?

Sorry I appear to have missed out a .0 on the Bitcoin amount. 0.0139 is the correct amount.

In my case based on personal experience, using a 7950 I have never been able to get above 600MH/s stable mining Bitcoin. 590MH/s stable can be achieved with GPU engine overclocking. The same card (Gigabyte WF3) flashed with F43 BIOS does 650kH/s mining scrypt on stock clocks.

i have a powercolor 7950 that runs stable at 1250-175, that's ~645 mhash.  hm, probably would get 650-655 at 8 *intensity (sigh)

but i usually run it at 1200-175, 617mhash or so

if mtgox price drops below $80 is when I will turn all my stuff off (or after next difficulty increase).   my time is worth more to me than what i would earn at that point

oh, re: stuff remaining stable for weeks.  maybe if you have all your stuff in an enclosed air conditioned space?  i have to close the window every time there is a thunderstorm (fairly frequent).   regular rain showers would be OK, but thunderstorm with swirling winds and what not,  rain flies into that room from fan.  so, window has to be closed and then room gets too hot, so miners have to be stopped and turned back on later.  also, there are power brownouts every week or so.

[mrich8]

The cost of air conditioning during the summer must be considered if you run anything more than one or two GPUs and it is hot outside. Right now for me it is just no good to run the GPUs anymore in Texas, even with a good low rate, because my apartment has an older less efficient air conditioner which I can not influence other than to move to another apartment.

It's possible that maybe nothing else changed, during winter running the GPUs would break even.

I am strongly considering purchasing some "USB Block Erupters" from BTC Guild. If I sell GPUs, which have earned their keep over time, it's like free money to spend on the USB devices - which would seem to use only tiny fractions of electricity. Then I can sell off other rig parts, since I only need one extremely modest computer to direct the USB and Bitcoin client. Seems like a good idea to just let these run virtually forever - until they fail otherwise or become unprofitable due to unpredicted advancements.

[culexevilman]

I still keep my gaming/mining rig on, cause its paid for by BTC, I love btc...

[Trillium]

I am strongly considering purchasing some "USB Block Erupters" from BTC Guild. If I sell GPUs, which have earned their keep over time, it's like free money to spend on the USB devices - which would seem to use only tiny fractions of electricity. Then I can sell off other rig parts, since I only need one extremely modest computer to direct the USB and Bitcoin client. Seems like a good idea to just let these run virtually forever - until they fail otherwise or become unprofitable due to unpredicted advancements.

First I will say that I am a hyprocrite. Because I purchased two yesterday.  But I will also say you should not buy them unless you truely have an interest in the hardware ownership and/or coolness factor of 'having ASIC hardware'.

Why? Because calculations taking difficulty increase into account usually show that they will never make back their current cost.

If you wanted to use the money more wisely, or use the 'but BTC will rise in value and I'll be rich and it'll make ROI!!!!111' argument then you would still be better off buying and holding BTC.

[MikeMark]

I powered down a couple of smaller miners about two weeks ago. I use the computers for other things, and I'm certain the heat will cause lifetime issues with them. That coupled with the fact that they were only returning about 0.0005 daily just made it no longer worth while. Besides, they just can't compete with ASIC miners.

[Trillium]

I powered down a couple of smaller miners about two weeks ago. I use the computers for other things, and I'm certain the heat will cause lifetime issues with them. That coupled with the fact that they were only returning about 0.0005 daily just made it no longer worth while. Besides, they just can't compete with ASIC miners.

In my case I wanted to replace my watercooled 5970 with something that uses far less power, my last power bill was over $725/qtr although the heat in winter (now) is nice. I realise I might not ever make my money back but I still enjoy mining and the novelty factor of the devices and hardware amuses me. In the future I will probably look at investing in more profitable options though. The fact that you can order the USB's and get them at your doorstep within days is another plus.

Because I only mine SHA-256 altcoins the discussions that can be had about litecoin and other scrypt based coins on GPU is not of significance to me. I loathe the idea of raping the memory subsystem of a graphics card when the SHA-256 coins profitability is almost that of litecoins on a weekly averaged basis.

The heat issues of the USB miners seems trivial to me and I intend to investigate it further when mine arrive. I have dozens of various heatsinks and fans around the place ready to be put to use for silly business like this. I also have access to a FLIR thermal imaging camera or two with quantitative readouts, it depends on if I can book them in the near future at work.

[Foofi]

To me, LTC is past dead and some people just cant do the math because they are stuck on their dreams of the future of LTC.
BTC is alive to ASIC, and alive to GPU if you are confident you wont break a GPU in the process.  If you do burn one out, you just lost money you will never get back at this rate of difficulty increase and ASIC taking over.

Yeah, LTC is so dead that I only make 60% more than I would mining BTC.  

BTC:
1400MH/s --- 21335329 diff --- $84.26 (USD/BTC)

.03 BTC/day -- $2.77
.23 BTC/week -- $19.40
1.00 BTC/30 days -- $84.26

LTC:
1400kH/s --- 841 diff --- $2.75 (USD/LTC)

1.67 LTC/day -- $4.60
11.71 LTC/week -- $32.21
50.20 LTC/30 days -- $138.06

[zvs]

The cost of air conditioning during the summer must be considered if you run anything more than one or two GPUs and it is hot outside. Right now for me it is just no good to run the GPUs anymore in Texas, even with a good low rate, because my apartment has an older less efficient air conditioner which I can not influence other than to move to another apartment.

It's possible that maybe nothing else changed, during winter running the GPUs would break even.

I am strongly considering purchasing some "USB Block Erupters" from BTC Guild. If I sell GPUs, which have earned their keep over time, it's like free money to spend on the USB devices - which would seem to use only tiny fractions of electricity. Then I can sell off other rig parts, since I only need one extremely modest computer to direct the USB and Bitcoin client. Seems like a good idea to just let these run virtually forever - until they fail otherwise or become unprofitable due to unpredicted advancements.

well, i'm in Tyler, about 100 miles east-southeast of dallas...  don't need an AC...   all my stuff has always been vented from outside air

and i'm turning it all off tomorrow if price stays below $80 

[atariguy]

I have my miner running in an unfinished, naturally cool basement. But the recent price decline is becoming more problematic than the difficulty increases.

[Trongersoll]

ok, the price is at $70something, you turn off because you are losing money on the elec. next week the price is $120 and you have lost a weeks worth of mining. I mean, really unless you are cashing out your BTCs as you get them, do you really care about the current price? Or do you feel that the current drop will be permanent?

[Quantus]

*pulls out magic 8 ball*
*eyes turn solid white*
*a cold gust of wind blows across the room*


"We are entering a dead zone. The Bitcoin price will hit 30 USD and remain at 30 to 20 for months to come. When all hope is lost the price will drop down to 5 USD.

Network hash rate will continue to grow for the next 8 months. In March of 2014 all new money for ASIC will be completely dyed up.  BFL will be the only surviving ASIC company. They still have a 16 month back log but promises to ship in 2 weeks.... then IT happens. the 3rd bitcoin bubble. It is massive. NO! SUPER MASSIVE!! Bitcoins jump in price to 30k USD each and continue to clime untill untill... "

*magic 8 ball explodes in a torrent of blue slime*
*eyes return to normal*


its going to be epic!

[philips]

*pulls out magic 8 ball*
*eyes turn solid white*
*a cold gust of wind blows across the room*


"We are entering a dead zone. The Bitcoin price will hit 30 USD and remain at 30 to 20 for months to come. When all hope is lost the price will drop down to 5 USD.

Network hash rate will continue to grow for the next 8 months. In March of 2014 all new money for ASIC will be completely dyed up.  BFL will be the only surviving ASIC company. They still have a 16 month back log but promises to ship in 2 weeks.... then IT happens. the 3rd bitcoin bubble. It is massive. NO! SUPER MASSIVE!! Bitcoins jump in price to 30k USD each and continue to clime untill untill... "

*magic 8 ball explodes in a torrent of blue slime*
*eyes return to normal*


its going to be epic!

The outer limits!

[Quix]

ok, the price is at $70something, you turn off because you are losing money on the elec. next week the price is $120 and you have lost a weeks worth of mining. I mean, really unless you are cashing out your BTCs as you get them, do you really care about the current price? Or do you feel that the current drop will be permanent?

The same argument works in reverse, the value can drop to $20 or less just as easily. It's not possible to predict this totally unprecedented speculatory market.

[zvs]

ok, the price is at $70something, you turn off because you are losing money on the elec. next week the price is $120 and you have lost a weeks worth of mining. I mean, really unless you are cashing out your BTCs as you get them, do you really care about the current price? Or do you feel that the current drop will be permanent?

well, i used to say it was overpriced at $50, so now it's at $65 or whatever and i still think it's overpriced.  but it seems to me like at least there will be downward pressure for the next several months with (some of) these new people to bitcoin wasting money on ASICs (re: the ones that were insanely overpriced) thinking they'd actually profit from it.  so they'll be selling as they make

i turned off all the stuff in my 'dedicated' room (well, ok, i will later tonight), i'm going to wait until next week to take everything out, just in case.  i'll probably leave the stuff mining in my room with the portable AC, at least for another few weeks...  that's only like 1ghash though

[zackclark70]

I just stick with altcoins ( pxc and ifc have made me 200ltc in 7 days wiith only 2,000kh between them  )

[zvs]

OK, all off now 

[Trillium]

OK, all off now  

Not keen for the other SHA-256 and scrypt coins? It could be worth your while because the returns are a little better. BTC will rise again, how often would you usually cash out anyway?

[atariguy]

The USB ASICs are actually becoming more of a bargain now, at $65 USD...

[notlist3d]

The USB ASICs are actually becoming more of a bargain now, at $65 USD...

Are there any group buys going atm for this though?