n01d3x (OP)
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August 12, 2013, 09:46:28 PM |
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After lurking for a while, 2 months ago I decided to build a mining rig. I knew mining bitcoin with gpus was out, so I went with litecoin. I built a 5x 7950 rig. A few years back I ran a 1000 watt hps 12 hours a day and didn't notice much difference in my electric bill. I knew with this rig it would go up, and I finally got my first full bill! Needless to say I have since sold everything and at a pretty good size loss. So if you're thinking of gpu mining any coin and you pay any rate for power DO NOT DO IT!! Losing money that fast was a nice expensive lesson to research everything thoroughly before spending a dime!
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firstlast
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August 12, 2013, 09:50:16 PM |
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I would have saved one 7950 to play games with. That's a nice GPU.
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ElectricMucus
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Marketing manager - GO MP
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August 12, 2013, 09:56:39 PM |
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Watching people lose money is even funnier.
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Athanasios Motok
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August 12, 2013, 10:04:38 PM |
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You bought experience.
That is a good one.
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zemario
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August 12, 2013, 10:06:15 PM |
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Respect for talking about it without bullshit. All the people here bragging about their baddass mining rigs, with ASICs bought for a small fortune, I wonder which percentage of them even break even. 10%??? Even the ones that hang around in the forums posting pictures and whatnot.
Look at it this way: you did, it was stupid, but you learn your lesson by your mistakes. as pointed by other, you still got a whole lot more than those that prefer to think that they may eventually make a ton of easy money, and end up loosing money all the time.
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n01d3x (OP)
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Activity: 69
Merit: 10
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August 13, 2013, 04:07:07 AM |
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Crypto mining has humbled me greatly and I have no problem admitting it. It was fun playing the game while I did. I am not really upset about it because I followed the rule of not investing money I was scared to lose. And yes, as bas as it sucks, I don't see much difference between my lose and the huge amounts of people who preordered bfls forever ago. Not that it helps me in any way. I also have no problem with it being funnier watching me lose money. When I saw my power bill I about cried in laughter. The whole ordeal was very comical to me. Thinking about how much I could make and stuff. Then BAM!!! Reality owned me.
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flipper
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August 13, 2013, 04:16:30 AM |
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Finding a place where you can run your gpu rig with free electricity (at work, dorm) is about the only option that makes roi sense these days.
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r3wt
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August 13, 2013, 04:21:50 AM |
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well i bought two block eruptors. in one week of near continuous operation(i stop them and let them cool usually once a day) i've managed to pull in .1 btc. will i ever meet roi of ~180 invested? probably not. is it worth it to me? hell yeah man, i love these little things. they're just so... cool.
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My negative trust rating is reflective of a personal vendetta by someone on default trust.
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n01d3x (OP)
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Activity: 69
Merit: 10
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August 13, 2013, 04:31:22 AM |
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Ironic that you posted in here r3wt. After I saw my bill I mined J-Coin for about a day before I shut the rig down. Haha
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r3wt
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August 13, 2013, 04:37:01 AM |
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Ironic that you posted in here r3wt. After I saw my bill I mined J-Coin for about a day before I shut the rig down. Haha
lol, really? any luck? post your j-coin address. i'll send you some freebies
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My negative trust rating is reflective of a personal vendetta by someone on default trust.
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Anduck
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quack
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August 13, 2013, 04:43:28 AM |
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Yeah guys.. The mining of coins is already and soon gets even lower profit hobby for non-pros. Easiest way to get coins is to trade.
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worldinacoin
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August 13, 2013, 04:44:36 AM |
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After lurking for a while, 2 months ago I decided to build a mining rig. I knew mining bitcoin with gpus was out, so I went with litecoin. I built a 5x 7950 rig. A few years back I ran a 1000 watt hps 12 hours a day and didn't notice much difference in my electric bill. I knew with this rig it would go up, and I finally got my first full bill! Needless to say I have since sold everything and at a pretty good size loss. So if you're thinking of gpu mining any coin and you pay any rate for power DO NOT DO IT!! Losing money that fast was a nice expensive lesson to research everything thoroughly before spending a dime!
Mind giving us a hint on the size of your electricity bills?
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n01d3x (OP)
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Activity: 69
Merit: 10
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August 13, 2013, 05:17:01 AM |
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Total was about $650 and I was running 4 cards for around 2 weeks, all 5 for maybe 2 weeks. That's probably around $400 more than normal. I pay around .30 kwh. Thanks for the offer r3wt, but I'm just going to sell the jcoins for btc at some point. I did pretty good, I have a little over 100.
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r3wt
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August 13, 2013, 05:20:38 AM |
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Total was about $650 and I was running 4 cards for around 2 weeks, all 5 for maybe 2 weeks. That's probably around $400 more than normal. I pay around .30 kwh. Thanks for the offer r3wt, but I'm just going to sell the jcoins for btc at some point. I did pretty good, I have a little over 100.
wow, lol you've got more than me. props
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My negative trust rating is reflective of a personal vendetta by someone on default trust.
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worldinacoin
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August 13, 2013, 05:26:12 AM |
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Total was about $650 and I was running 4 cards for around 2 weeks, all 5 for maybe 2 weeks. That's probably around $400 more than normal. I pay around .30 kwh. Thanks for the offer r3wt, but I'm just going to sell the jcoins for btc at some point. I did pretty good, I have a little over 100.
That's a lot of money! I would have just rent a space in a nearby datacenter and use the electricity (make sure it comes with the rack and is unmetered), will be 1/2 price or even lower.
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Bfljosh
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August 13, 2013, 08:24:51 AM |
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I don't pay for power. A 7950 pays itself back pretty fast.
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mlyckoX
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August 13, 2013, 09:49:20 AM |
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You can still mine altcoins with GPU.
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freedomno1
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Learning the troll avoidance button :)
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August 13, 2013, 09:55:43 AM |
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Shoot 30 cents a kWh no wonder props.
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Believing in Bitcoins and it's ability to change the world
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imabauss
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The Premier Digital Asset Management Ecosystem
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August 13, 2013, 09:58:54 AM |
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Thanks for posting this! While losing money is no fun... Other members can learn from what you did!
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Amph
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August 13, 2013, 10:55:07 AM |
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You can still mine altcoins with GPU.
they are unprofitable already, unless you mine coin with 600%+++ profit
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