GPU mining is dead now.

[BitCoiner2012]

Bitcoin mining is 50% less profitable than Litecoin mining right now, see coinchoose.com

Please explain to us how you think that litecoin is more profitable than bitcoin?
50% is such a nice even rounded number, that I'd like to know how you mathematically reached it.

That website does not compare BTC to litecoin.

I used a litecoin calculator and found that it earns less coin and less USD per GPU.

I am NOT using "room to grow" speculation.
Speculation is guessing.  Guessing is not fact.
Lets talk about today, not the hypothetical future.

If you're only interested in talking about "today", you may very well not mine. Are you going to invest, get ROI today? Anytime near today? Ever before? No and no. So...

[MangoJ]

Sorry, I just don't get it, If the rigs have paid for themselves and you (were) making $157 after bills, Then where is the problem?
My threshold is tighter, But I still make a profit, I am not going to turn off until I end up spending money in running rigs, Then I would just buy BTC and sit on it.

The problem is the dropping value in BTC, below $90 today.
Also the HEAT.  Hottest day of the year, and I already have to open all doors and windows 24/7.  Fire hazzard.
Running GPUs 24/7 is wear and tear.
If I burn out one GPU, and I am only making $157 per month, I just lost money because each GPU is worth more than that.
So it is not worth the risk of burning out 1 GPU.
Also the discomfort.
Also the dropping BTC.
Also the labor of monitoring miners and rebooting them when they are slow or go offline.

Congradulations to you for riding this out until the end.
I prefer not to lose money.

If someone has any info on free power.. I would run 1 of my miners for them!

[BitCoiner2012]

Sorry, I just don't get it, If the rigs have paid for themselves and you (were) making $157 after bills, Then where is the problem?
My threshold is tighter, But I still make a profit, I am not going to turn off until I end up spending money in running rigs, Then I would just buy BTC and sit on it.

The problem is the dropping value in BTC, below $90 today.
Also the HEAT.  Hottest day of the year, and I already have to open all doors and windows 24/7.  Fire hazzard.
Running GPUs 24/7 is wear and tear.
If I burn out one GPU, and I am only making $157 per month, I just lost money because each GPU is worth more than that.
So it is not worth the risk of burning out 1 GPU.
Also the discomfort.
Also the dropping BTC.
Also the labor of monitoring miners and rebooting them when they are slow or go offline.

Congradulations to you for riding this out until the end.
I prefer not to lose money.

If someone has any info on free power.. I would run 1 of my miners for them!

Ever considered solar or other alternatives if energy is one of your chief concerns? Though it sounds like there are a lot more things about mining that bother you, understandably so.

[MangoJ]

Bitcoin mining is 50% less profitable than Litecoin mining right now, see coinchoose.com

Please explain to us how you think that litecoin is more profitable than bitcoin?
50% is such a nice even rounded number, that I'd like to know how you mathematically reached it.

That website does not compare BTC to litecoin.

I used a litecoin calculator and found that it earns less coin and less USD per GPU.

I am NOT using "room to grow" speculation.
Speculation is guessing.  Guessing is not fact.
Lets talk about today, not the hypothetical future.

If you're only interested in talking about "today", you may very well not mine. Are you going to invest, get ROI today? Anytime near today? Ever before? No and no. So...

If you are going to support the false information that was offered "50% less profitable" then you are a fool.
If you are not going to read what I said, you should not attempt to insult me.  (I began this thread saying I have already earned more than my ROI.)
So lets talk about my ROI in the past, not the future.  Nice attempt to sound like a big shot with your buzzwords but you just blew your facade but trying to sound cool.

Bottom line, you are avoiding the FACT that today, and tomorrow litecoin earns LESS than BTC, and BTC is dead to GPU unless you have free power or want to risk burning out a GPU and then go into the negative.
That is to say nothing of ROI, which is long dead for GPU mining if you are thinking of buying GPUs today.

On another note, I noticed you claim to mine multiple coins.  A foolish speculative play when you can clearly see which is the better, mine that, and switch to the top coin of the day as needed.
Instead you waste your timing mining dead coins?

 Yes and yes?  So....

(PS:  Learn to read at least the first post, and keep your story straight so you don't get called out.)

[BitCoiner2012]

Bitcoin mining is 50% less profitable than Litecoin mining right now, see coinchoose.com

Please explain to us how you think that litecoin is more profitable than bitcoin?
50% is such a nice even rounded number, that I'd like to know how you mathematically reached it.

That website does not compare BTC to litecoin.

I used a litecoin calculator and found that it earns less coin and less USD per GPU.

I am NOT using "room to grow" speculation.
Speculation is guessing.  Guessing is not fact.
Lets talk about today, not the hypothetical future.

If you're only interested in talking about "today", you may very well not mine. Are you going to invest, get ROI today? Anytime near today? Ever before? No and no. So...

If you are going to support the false information that was offered "50% less profitable" then you are a fool.
If you are not going to read what I said, you should not attempt to insult me.  (I began this thread saying I have already earned more than my ROI.)
So lets talk about my ROI in the past, not the future.  Nice attempt to sound like a big shot with your buzzwords but you just blew your facade but trying to sound cool.

Bottom line, you are avoiding the FACT that today, and tomorrow litecoin earns LESS than BTC, and BTC is dead to GPU unless you have free power or want to risk burning out a GPU and then go into the negative.
That is to say nothing of ROI, which is long dead for GPU mining if you are thinking of buying GPUs today.

On another note, I noticed you claim to mine multiple coins.  A foolish speculative play when you can clearly see which is the better, mine that, and switch to the top coin of the day as needed.
Instead you waste your timing mining dead coins?

 Yes and yes?  So....

(PS:  Learn to read at least the first post, and keep your story straight so you don't get called out.)

You get really fired up over very little. I think you looked a little too far into what I was saying. I was simply implying looking at a coin price today and expecting anything over time on that particular number when mining is not something I would advise, which isn't what you're retorting to.. Sorry about the "buzz words".  

In the event that you were actually interested in corresponding, yes, I do mine a variety of coins. In fact, I haven't specifically mined BTC for quite some time as a primary coin and that has turned out well for me. However I don't consider it dead, rather a fallback in the event other coins are not profitable for me, as they  sometimes are not. Other coins I will continue to mine as "fairweather" (edit I mean the opposite), like LTC PPLNS, but I have other miners I switch around based on RBPPS systems generally speaking.  Not sure what you mean about mining "dead coins", to which coins are you referring to? A lot of assumptions! Just ask, the information comes out easier. I have more than one miner.

[MangoJ]

Ever considered solar or other alternatives if energy is one of your chief concerns? Though it sounds like there are a lot more things about mining that bother you, understandably so.

I once read a threat where these guys suggested getting a NASA engineer, or a nuclear engineer for some job....
It took about 10 posts before someone called them out for being stuck up snobs to suggest such an unreasonable overkill solution.  

If I had 10,000 K Watts of solar power.....
How much do you think that solar power equipment would cost?  
Given the smallest most optimistic rate of difficulty increase and ASIC network speed increast,
Do you believe that would make ROI, ever?
No offense.  I think you were being genuine when you suggested solar.

I wonder if anyone has had experience renting "free utilities" rental offers, and just using up all that power?
A lease with utilities included seems plausible.

[MangoJ]

In the event that you were actually interested in corresponding, yes, I do mine a variety of coins. In fact, I haven't specifically mined BTC for quite some time as a primary coin and that has turned out well for me. However I don't consider it dead, rather a fallback in the event other coins are not profitable for me, as they  sometimes are not. Other coins I will continue to mine as "fairweather", like LTC PPLNS, but I have other miners I switch around based on RBPPS systems generally speaking.  Not sure what you mean about mining "dead coins", to which coins are you referring to? A lot of assumptions! Just ask, the information comes out easier. I have more than one miner.

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.

[BitCoiner2012]

Ever considered solar or other alternatives if energy is one of your chief concerns? Though it sounds like there are a lot more things about mining that bother you, understandably so.

I once read a threat where these guys suggested getting a NASA engineer, or a nuclear engineer for some job....
It took about 10 posts before someone called them out for being stuck up snobs to suggest such an unreasonable overkill solution.  

If I had 10,000 K Watts of solar power.....
How much do you think that solar power equipment would cost?  
Given the smallest most optimistic rate of difficulty increase and ASIC network speed increast,
Do you believe that would make ROI, ever?
No offense.  I think you were being genuine when you suggested solar.

I wonder if anyone has had experience renting "free utilities" rental offers, and just using up all that power?
A lease with utilities included seems plausible.

Solar is only viable I would suggest if you receive free GPU, free mining eq that consumes power (more gpu, etc..), etc. In other words, if power is what is keeping you from profiting. I wouldn't suggest new hardware with investment in solar, unless purely speculative mining is taking place. The new ASICs are too low on power for it to be a concern for SHA256 coins, but that's where Scrypt comes in. I plan to use my old GPU farm mostly toward LTC and eventually on solar if the remaining SHA256 become completely unprofitable. But it's not about mining X coins per day and liquidating, as a miner, for me, watching and playing the market is important. When you convert TRC/PPC/ or whatever coin to BTC is important. Or maybe you don't want to convert that alt, like LTC.

As far as the cost, I did recent research and it's not as expensive as you would imagine, particularly if fabricating yourself. I estimated several thousand dollars would set me up based on generic costs of certain cells available, but I'm still looking into it as I have a lot more on my plate and the coal company can provide me for now. But I have two very nice east and west roof tops.

However, remember the benefits of solar go beyond mining.

[malevolent]

Also the labor of monitoring miners and rebooting them when they are slow or go offline.

If you actually have to spend time on that, you are pushing your GPUs too far.
They should be able to stay stable for at least 2-4 weeks.

As for the fact that it's no longer worth it, I agree.

[tacotime]

Itt maximum jimmy overrustle

[symzzi]

If you are going to support the false information that was offered "50% less profitable" then you are a fool.
If you are not going to read what I said, you should not attempt to insult me.  (I began this thread saying I have already earned more than my ROI.)
So lets talk about my ROI in the past, not the future.  Nice attempt to sound like a big shot with your buzzwords but you just blew your facade but trying to sound cool.

Bottom line, you are avoiding the FACT that today, and tomorrow litecoin earns LESS than BTC, and BTC is dead to GPU unless you have free power or want to risk burning out a GPU and then go into the negative.
That is to say nothing of ROI, which is long dead for GPU mining if you are thinking of buying GPUs today.

On another note, I noticed you claim to mine multiple coins.  A foolish speculative play when you can clearly see which is the better, mine that, and switch to the top coin of the day as needed.
Instead you waste your timing mining dead coins?

 Yes and yes?  So....

(PS:  Learn to read at least the first post, and keep your story straight so you don't get called out.)

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.

[MangoJ]

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?

[symzzi]

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.

[Philj]

Funny, I opened a LTC calc, and a BTC calc, entered 600mh/s BTC and 600kh/s LTC (roughly what a 7950 will do on either coin give or take a bit).

BTC= $1.30 per day
LTC= $2.18 per day

Seems like LTC is better to mine. Maybe not quite double, but still considerably better.

You can also just look at https://coinotron.com to see how a few different coins compare in mining value.

[DoomDumas]

Have 2 5970 that are mining since 3.5 years now.. still running fine, stable and hash some satoshi.. I've no real incentive to put them off at a 0.08$/kwh power cost !

[icyak]

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?

All scrypt currencies need some RAM (not only 2 GB). You cant just convert because it depends also on memory clock speeds, system RAM, etc...
https://github.com/litecoin-project/litecoin/wiki/Mining-hardware-comparison

[zackclark70]

i have 83 7950s and am making over 3x what i pay for electric and i pay £0.14 per kwh gpu mining with alts is the way to go !!

[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.

Charts?  Aka speculation?  Why don't you take every penny you have and double 3 times on lite coin while you're predicting the future and inventing numbers.   Litecoin mining with the same miners as btc mining earns LESS income than BTC mining.
Nice way to twist a higher profit by claiming charts provide this greater percentage a year into the future.

Google Bitcoin calculator.
Open a new tab.
Google lite coin calculator
Open a new tab
Google btc exchange rate
Open a new tab
Google lite coin exchange rate.
Enter the same hash power for both
(Remember that 1mega hash in btc equals 1k hash lite coin)
Do the math
Then reply back

My GPU's are sitting stable at 650-680kh each

My rigs have 7950's installed 6 per rig, stable at an average of 4mh/4000kh mining litecoins.

Using those stats - of 4mh I get -

LTC current exchange rate - 2.71503305

4.7813 LTC per day * 2.71503305 = $12.98 "USD"



For Bitcoins max stable I can achieve is 590mh per gpu.

So that is a total of 3540mh for a total rig.

With those stats - of 3540mh I get -

฿0.08 per day, works out to $7.44 "USD"


$7.44 for bitcoin vs $12.98 for litcoin.


25 rigs at 4mh each mining litcoins.

25 * $12.98 = $324.39 per day.


$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.

GPU mining is currently the only way to mine scrypt, unless you have your hands on one of the few scrypt fpga units, so how can you say GPU mining is dead, it has a long way to go for the scrypt currencies.

[squall1066]

Sorry, I just don't get it, If the rigs have paid for themselves and you (were) making $157 after bills, Then where is the problem?
My threshold is tighter, But I still make a profit, I am not going to turn off until I end up spending money in running rigs, Then I would just buy BTC and sit on it.

The problem is the dropping value in BTC, below $90 today.
Also the HEAT.  Hottest day of the year, and I already have to open all doors and windows 24/7.  Fire hazzard.
Running GPUs 24/7 is wear and tear.
If I burn out one GPU, and I am only making $157 per month, I just lost money because each GPU is worth more than that.
So it is not worth the risk of burning out 1 GPU.
Also the discomfort.
Also the dropping BTC.
Also the labor of monitoring miners and rebooting them when they are slow or go offline.

Congradulations to you for riding this out until the end.
I prefer not to lose money.

If someone has any info on free power.. I would run 1 of my miners for them!

Yes I do see your position, I do have the advantage of mining in a cold country 

Where I spend on power for the rigs, I do save in heating.

I believe GPU mining is on its threshold for mining, and wholely depends on individual circumstances now.

I do believe it will end for GPU's, But not for people who are blessed with free power.

[Amph]

so bitcoin price decrease, cuz people are dumping them in to litecoin