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Author Topic: How many people have bought rigs for free through bitcoins they've earned?  (Read 2521 times)
mike678
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September 04, 2011, 02:56:56 PM
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I'm just curious how many people are at the point where their miners have mined enough to get a free rig. For those miners did you go for reliability (buying from newegg) or go for cheap (buying used). The reason I ask is because I'm almost to the point where I can created a free rig and I'm curious what other people's strategies have been. In all honesty I'm thinking of just going for newegg so I have a warranty and buying 6950's that are reference card and the shaders can be unlocked. I realize this goes against conventional wisdom of 6950's are inefficient but I'd prefer it to used 5870's.

So what have you guys done?
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Vladimir
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September 04, 2011, 02:59:59 PM
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It is only free if you ignore http://en.wikipedia.org/wiki/Opportunity_cost

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mike678
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September 04, 2011, 10:48:06 PM
 #3

It is only free if you ignore http://en.wikipedia.org/wiki/Opportunity_cost


Pushing that to the side I've always been curious what card do you tend to use the most or is it a mix? I know you have a huge megahash or should I say gigahash but I have never heard what you use. Also did you take your original roi out so at the very least it didn't cost you anything?
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September 04, 2011, 10:55:54 PM
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Too busy gossiping on forums, so I have not calculated my roi yet  Wink

I mostly use 5970, 5870, 6990's

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bcpokey
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September 04, 2011, 11:18:45 PM
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It is only free if you ignore http://en.wikipedia.org/wiki/Opportunity_cost


Pushing that to the side I've always been curious what card do you tend to use the most or is it a mix? I know you have a huge megahash or should I say gigahash but I have never heard what you use. Also did you take your original roi out so at the very least it didn't cost you anything?

He started out (more or less) by selling hashing power contracts, which significantly helps ROI (if you rent 1GHash for 3 months at a price that buys 1GHash of hardware, that's basically a 3 month ROI guarantee).
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September 06, 2011, 06:49:49 PM
 #6

I have a pair of 5770s, so I'm slowly mining, but my coins are being used for putting together a new gaming machine.  I'm getting together things like case/power-supply and things like that right now that don't lose value as quickly and can last a few years as-is, and then will try to earn roughly $1000 worth of coins overtime to get a kick-ass (or pair of kick-ass) video cards, and then maybe a new proc/mobo/ram around that time, too.
 
My wife doesn't like my gaming hobby, so this is legit since to her I'm not spending "real" money (minus electricity costs)

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Bitcraft
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September 09, 2011, 05:12:47 AM
 #7

That's gonna take you a while.
SMOKEU
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September 09, 2011, 06:19:12 AM
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I've lost most of my savings through BTC from buying hardware and I don't think I'll ever get that money back.
mike678
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September 09, 2011, 06:52:40 AM
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I've lost most of my savings through BTC from buying hardware and I don't think I'll ever get that money back.
That's unfortunate what kind of rigs did you build? and when did you start building these rigs?
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September 09, 2011, 07:06:33 AM
 #10

Bought our rigs for free... wat?  Huh

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mike678
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September 09, 2011, 07:10:47 AM
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Bought our rigs for free... wat?  Huh
I meant through bitcoins. If you have mined enough to build another rig with the coins you mined.
trentzb
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September 09, 2011, 07:26:16 AM
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We have mined enough to build about 10 additional rigs after covering initial rig x 4 costs. We did not build beyond initial 4 rigs though, just holding now.
Mousepotato
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September 09, 2011, 07:49:11 AM
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Bought our rigs for free... wat?  Huh
I meant through bitcoins. If you have mined enough to build another rig with the coins you mined.
Oh... well, sorta.  Not through Bitcoins though, but I've made more than I've spent on my HW from mining Ixcoins and Solidcoins.

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saadtariq30
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September 09, 2011, 11:23:40 AM
 #14

i sold 30 coins at 30$ each during the last rally and built a new gaming machine..i5 2500k, p8p67 motherboard, 4gb ram and 2 reference 6950s unlocked Smiley

oh wait..i already had one 6950..
wndrbr3d
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September 09, 2011, 12:45:02 PM
 #15

my original rig was two 6870's, which has paid for itself over the last four months.

i used my last cash out to buy a 5830 for my PC. so essentially, all my BTC hardware is paid for (even calculating in cost of power).
AngelusWebDesign
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September 09, 2011, 05:22:42 PM
 #16

Well, looks like the gravy train just derailed.

$4.80 per Bitcoin now!

With my 20 cards, I'm making about $2.75 a day now TOTAL, counting electricity (but not counting fees).
Reckman
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September 09, 2011, 06:11:03 PM
 #17

Well, looks like the gravy train just derailed.

$4.80 per Bitcoin now!

With my 20 cards, I'm making about $2.75 a day now, counting electricity (but not counting fees).


Yup sad day, about the same for me making like 1 dollar today, 9 dollar bitcoins are looking so good right now
stryker
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September 09, 2011, 06:43:21 PM
 #18

hey guys, just wondering cos I'm curious.... but what.... I say "WHAT?" in the wild world of fu**ing sports ever possessed you to buy all that mining gear thus invest so much?

I ask as I've done some stoooopid things but usually when drunk.... such as getting my motorbike license

20 cards?!? really??
AngelusWebDesign
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September 09, 2011, 06:50:39 PM
 #19

Some of them date back to late May of this year, others to June.

I still have 27% of my investment to recoup -- don't know that I'll be able to do that now, outside of selling equipment.
I only bought equipment though at good prices, and when there was money to be made. I stopped expanding right before the big crash of August 6.

Note -- that 27% figure is counting ALL expenses, with the utmost precision. An accountant couldn't be more anal than my spreadsheet  Wink

Want to know whose sanity you should question?  The guys who bought 2, 4 or even 8 $500 5970's from NewEgg TWO WEEKS AGO when BTC was only $8 or $9 and seemed to be trending down.

I mean, you can't sell a $500 card very easily on the aftermarket. People with that kind of money would prefer to pick their own card, buy NEW, and get a warranty.

Much easier to sell a $100 or even $200 card used.
stryker
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September 09, 2011, 06:58:14 PM
 #20

fair comment AngelusWebDesign, your talking about large mining deployment through thoughtful investment.  I'd imagine though you made that investment in the hope of returns.

TBF I was initially too, but then common sense kicked in and I've kept it to within "hobby" costs ever since.... my £40 GBP on electricity would only be spent on Vodka anyways :-)
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