GPU mining is dead now.

[MangoJ]

5 minutes ago I went down to the mine and powered off each of my 6 GPU miner rigs.
I ran the numbers, with power at .087 per k watt hour,
 12000M hash speed,
current low BTC rate 94.06
Diff: 21,335,329

I would make 157 USD per month.
But BTC may or may not drop, then after BTC exchange rate fees, pool fees, transfer fees,,
GPU mining is not worth it anymore.  Not for 157 and change for the heat and stress on the equipment.


LITEcoin does not appear to be worth mining. 

Has anyone ever tried renting an apartment with "free utilities", moved in a bunch of miners, and used up free power for a while?

I guess it is time to sell of my GPUs.
Yes they did pay for themselves.  I got about 52BTC mining with them.
Paid about 5k for the gear, and paid only 700 in power so far, (Will pay another 900 tops as bills catch up)
Then after I sell off the used gear I made some profit.

[tutkarz]

you can still wait with btc sale when the price will be higher to make a profit.

[pikeadz]

Thank you for powering down.  More for me.

[Moebius327]

litecoin mining is still profitable.

[zvs]

litecoin mining is still profitable.

i have no clue about litecoins, but bitcoin mining is still profitable, too.  it's something like .21 or .22kWh is break even point.

but the thing of it is, you aren't figuring in the value of your time and equipment loss/depreciation. 

i don't consider it profitable at .06kWh, but I've been in the process of selling my stuff for a while (especially the 5xxx cards).  in the meantime, i keep it running... in part because I dread cleaning out the room where I've been running most of my stuff for the last 18 months

[Trillium]

Doesn't take into account future price rise of BTC. If they are worth $500 in a years time then is your hardware still profitable? By the way $0.087 /kWh is low, it's $0.28+ where I live...

[Moebius327]

Doesn't take into account future price rise of BTC. If they are worth $500 in a years time then is your hardware still profitable? By the way $0.087 /kWh is low, it's $0.28+ where I live...

If they are worth $500 why bother investing in GPUs and not buy BTCs?

[Littleshop]

If your machines are not efficient or your power is over 15 cents a kwh it is probably best to stop and sell the gear now.  You might be making a small profit but you are putting wear on items you could sell now.  If you think BTC is going to rise, sell the gear and buy BTC. 

[superduh]

well.. he's almost right. it'll be dead by the end of the year for sure

[hodginsa]

Doesn't take into account future price rise of BTC. If they are worth $500 in a years time then is your hardware still profitable? By the way $0.087 /kWh is low, it's $0.28+ where I live...

If they are worth $500 why bother investing in GPUs and not buy BTCs?

Not all of us area able to put mass amount of instant cash into hopes and dreams. A small amount of electricity cost is a lot easier to cope with. haha

[Littleshop]

Doesn't take into account future price rise of BTC. If they are worth $500 in a years time then is your hardware still profitable? By the way $0.087 /kWh is low, it's $0.28+ where I live...

If they are worth $500 why bother investing in GPUs and not buy BTCs?

Not all of us area able to put mass amount of instant cash into hopes and dreams. A small amount of electricity cost is a lot easier to cope with. haha

But if you put the same $ for electricity into buying BTC, you are supporting the BTC economy instead of the local utility.  It is more likely the price will rise under that scenario.  If you make a profit, that is another story, but at break even you really should not be doing it that way. 

[Quix]

It's definitely approaching lights off for GPU mining. The difficulty is going up very rapidly and it's just not economical any more. Investing in new GPU hardware has been stupid for a few months, GPU hashing should be totally dead by the end of the summer.

Alt coins are also dead, Litecoin is the last to go down but it's going and will be gone soon.

Long story short, ASICs are quickly becoming the only economical option but at the prices being charged by most vendors you may still have issues making back what you pay for them. If someone was mass producing at BFL's prices maybe, but then every hash would be worth less overall. As for me I'm thinking that my best option to just to get out of the business. This situation combined with government crackdowns on Bitcoin-centric businesses mean other businesses are more profitable.

Also, if you're thinking of the future value of Bitcoin it could be $0. It's a speculative market and that makes it very volatile.

[MangoJ]

Very interesting input from everyone.
Even the guy thanking me saying "more for me!"  My 12G/h does not effect the overall speed of the BTC network and it is silly for him to think that is more for him.

My mining was profitable and I mined until it was no longer profitable.
BTC value is dropping.  If it goes above 130 I would stay in it, but it is not.
Transfer fees suck, ASCI preorders take forever, it is a fad that I do not see lasting unfortunately.

At this point my equipment is worth more than any amount of BTC I could still get.
1 BTC every 4 days is not worth my time if it is under $100.
Nor the stress on the gear, and monitoring GPUs which like to crash.

I could learn about Hashcat!

But I'm selling gear if anyone needs anything, I have... everything.  lol

It was fun and I will enjoy trading BTC with people for stuff.
I spent all mine on USB eruptors which I intend to sell on ebay after I get them.

[hrrsn]

Alt coins are also dead, Litecoin is the last to go down but it's going and will be gone soon.

Why do you say that? Litecoin is currently ASIC proof so there will be a lot of GPU workers going there over the next few months, also it is small but steadily growing, much like Bitcoin was. Once MtGox starts trading LTC we'll see a lot more market validation.

[mgio]

Alt coins are also dead, Litecoin is the last to go down but it's going and will be gone soon.

Why do you say that? Litecoin is currently ASIC proof so there will be a lot of GPU workers going there over the next few months, also it is small but steadily growing, much like Bitcoin was. Once MtGox starts trading LTC we'll see a lot more market validation.

Litecoin is dead.

MtGox will NEVER start trading litecoin. Yeah, I know what they said. But it will never happen.

Miners moving to litecoin will help kill litecoin faster as litecoin difficulty will rise and miners won't make their money back.

[tacotime]

Alt coins are also dead, Litecoin is the last to go down but it's going and will be gone soon.

Why do you say that? Litecoin is currently ASIC proof so there will be a lot of GPU workers going there over the next few months, also it is small but steadily growing, much like Bitcoin was. Once MtGox starts trading LTC we'll see a lot more market validation.

People holding devaluating Bitcoins don't want to feel like they're losing money to the rapidly growing Litecoin

The 24 hour volume for LTC is well over 1M USD right now (MORE than the 24 hour volume of BTC/USD at mtgox) and the LTC economy seems healthier than ever

[3ham3]

Alt coins are also dead, Litecoin is the last to go down but it's going and will be gone soon.

Why do you say that? Litecoin is currently ASIC proof so there will be a lot of GPU workers going there over the next few months, also it is small but steadily growing, much like Bitcoin was. Once MtGox starts trading LTC we'll see a lot more market validation.

Litecoin is dead.

MtGox will NEVER start trading litecoin. Yeah, I know what they said. But it will never happen.

Miners moving to litecoin will help kill litecoin faster as litecoin difficulty will rise and miners won't make their money back.

Litecoin Is dead? Do your research....

First came the telephone, and it's faxing, dial up connections and basic internet, all was good in the world.
Next came a faster network of broadband and fiber....

First came bitcoin.
Next.....?

Litecoin may not be asic proof for long.

[MangoJ]

Alt coins are also dead, Litecoin is the last to go down but it's going and will be gone soon.

Why do you say that? Litecoin is currently ASIC proof so there will be a lot of GPU workers going there over the next few months, also it is small but steadily growing, much like Bitcoin was. Once MtGox starts trading LTC we'll see a lot more market validation.

Right now, using GPU mining, LITEcoin is LESS profitable than BTC.
BTC is already not profitable for people to get into.  GPUs cost too much, use too much power, and don't earn enough.
They earn even LESS money than BTC. 

I checked the exchange rate for Litecoin with my mining power, and I make more mining BTC.
Yet I shut down my miners because it isn't enough to bother with.

Therefore Litecoin was dead before it ever went mainstream.  Much like HD-DVD back when that was competing against Bluray disks.

Bitcoin was in the news, on TV, on talkshows, mentioned by the black market.
Nobody cares about Litecoin but people that don't yet know that they are burning out their CPUs and GPUs on a dying currency.
Sure they can make $10 USD a month mining litecoin, but that is foolish when they could make $15 a month on BTC currently.

Overheating my house and burning up my GPUs is no longer worth the little $150 I get after the power bill.
Anyone doing litecoin is terrible at math and or accounting.

Litecoin is totally dead.

BTC is alive.

[polarhei]

GPU is not completely dead for mining as GPU is a form of ASIC, specialized on Vision with little accelaration on calculations generally.

Silly rely on GPU is completely dead. You better be parasite for this game. Outsouring.

During the step, my equipment only provides basic start , I have to find a way to copy 'me' like Preserving the same signal infinity times...

[3ham3]

Whoever thinks and says litecoin is dead needs to really look at the charts, at the current rate it will be $20+ USD by the end of the year.

As of this post Litecoin is at $3.

179% More profitable then Bitcoin....


So many people Scaremongering, Am tired of it.

But by all means, don't mine it, all the more for me.