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Author Topic: thinking about investing some harware into bitcoining, what do you think  (Read 709 times)
dan0804smith
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August 26, 2011, 06:50:46 PM
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thinking about getting the amd 6990x3

i plan to stick it into my duel 2.3 ghz ~ 2gb ram

comments concerns ?


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mute20
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August 26, 2011, 06:55:32 PM
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Their are quite a few things you must take in to consideration.
1. Will I make a profit
2. Do I have the right hardware
3. Do I know what I am getting into.
4. What is plan b if something goes wrong.
enygma
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August 26, 2011, 11:16:04 PM
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Also evaluate whether you can throw money on an exchange and make more money than if you bought the hardware. You can't ignore the fact that this setup you are proposing will give you about about 2 GHash/s (give or take) and cost you about 1.1 to 1.3 kWh of electricity. At $0.15 per kWh, that works out to just over $4 per day to generate bitcoins. Network difficulty and value fluctuate (difficulty going up and value going down). You have to take these factors into consideration if you choose to sink some money into hardware.

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Dirty
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August 27, 2011, 12:11:00 PM
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See also the Mining hardware comparison to get an idea how well your system will perform:
https://en.bitcoin.it/wiki/Mining_hardware_comparison
Dirty
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August 27, 2011, 12:12:20 PM
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Or this one:

http://chasinggoogle.blogspot.com/2011/07/bitcoin-mining-hardware-comparison-list.html
ukpyr
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August 27, 2011, 02:44:05 PM
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Also evaluate whether you can throw money on an exchange and make more money than if you bought the hardware. You can't ignore the fact that this setup you are proposing will give you about about 2 GHash/s (give or take) and cost you about 1.1 to 1.3 kWh of electricity. At $0.15 per kWh, that works out to just over $4 per day to generate bitcoins. Network difficulty and value fluctuate (difficulty going up and value going down). You have to take these factors into consideration if you choose to sink some money into hardware.

Also remeber that you have cooling costs involved. Winter is coming in my part of the world, but if you live elsewhere, keeping your expensive hardware cool is pretty key to extract long term profits. Cards get to hot, and you have a lot of wasted money sitting under your desk.

fently
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August 27, 2011, 06:11:23 PM
 #7

I like this one: http://bitcoinx.com/profit/

It makes a good effort to address the decreasing profitability of hardware that you purchase today. A clear consideration is that the longer your payback period is, the greater of an issue power efficiency becomes.

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August 27, 2011, 07:02:09 PM
 #8

You're better off buying shares in a bitcoin mining company on GLBSE, SIN pays regular dividends.

PGP key id at pgp.mit.edu 0xA68F4B7C

To get help and support for GLBSE please email support@glbse.com
bitbites
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August 27, 2011, 07:19:56 PM
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GLBSE looks very interesting. How safe is it? Is it well established? How runs it?
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August 27, 2011, 07:29:17 PM
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GLBSE looks very interesting. How safe is it? Is it well established? How runs it?

Security wise, it's VERY secure, using cryptographic keys instead of password logins, we're beyond password security. I'm the guy who runs it(I've been around for a while), on behalf of several investors(including myself).

We've been live for... oh nearly 4 months now (I think) and have had no breakins or losses.

glbse.com itself is fine(with regards security and trustworthyness) , the biggest issue is finding the right share to invest in, currently they're all quite high risk ( the shares that is) and people have already lost bitcoin, although quite a few have made some also.

Nefario.

PGP key id at pgp.mit.edu 0xA68F4B7C

To get help and support for GLBSE please email support@glbse.com
dub0matic
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August 27, 2011, 07:33:54 PM
 #11

thinking about getting the amd 6990x3

i plan to stick it into my duel 2.3 ghz ~ 2gb ram

comments concerns ?



get out while you can

make it rain haha
btc 176MrZ3CCXGb1GqFiGaoqQpaynzYqZsW6n
Nefario
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August 27, 2011, 07:56:14 PM
 #12

Actually WiseOldOwl is getting out of the mining game, you can probably get his hardware off him.

PGP key id at pgp.mit.edu 0xA68F4B7C

To get help and support for GLBSE please email support@glbse.com
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