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comeonalready
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March 16, 2014, 09:52:16 AM
Last edit: March 16, 2014, 10:39:43 AM by comeonalready |
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Litecoin difficulty is now up to... 5162! ...with a network hashrate of 173GH/s, and only projected to continue rising higher.
That means approximately 0.18704355 LTC per MHD, or 0.00513434 BTC per MHD at the current exchange rate before fees.
Assuming power requirements of 500 watts per 1 MH/s for GPU mining, that brings the breakeven point (not considering fixed capital expenses -- e.g. your equipment), to 0.00042786 BTC, or US$0.2674 per KWh at the current exchange rate before fees.
Do you know how much your electricity costs per KWh? Or how many MH/s you generate per KWh? How much higher will the litecoin difficulty be in 2-3 days? (And how much lower the return per KWh?) How many will you be surprised at the end of the month as to how little of it you get to keep? The only GPU miners still running after the shakeout may just be in the bedrooms of children still living with their parents, in college dorm rooms, and on the sly in office buildings. Who will survive?! These are very interesting times!
Tune in next week for the exciting conclusion. Same bit time, same bit channel...
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comeonalready
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March 16, 2014, 10:42:32 AM |
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Anyone having this problem? It always happen 5-10 seconds. what is the solution for this?  Im using wafflepool. In your example it is happening about two minutes apart. Also would be helpful not to redact the server name to which you are connecting as that could be a factor. Are you connected to a pool other than wafflepool? |
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comeonalready
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March 16, 2014, 10:56:38 AM |
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And here is my another problem.. Im only using wafflepool but my failover is middlecoin. help  Unfortunately I do not have an answer for you. But I am sure someone else will soon. |
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wahahano
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Activity: 5
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March 16, 2014, 11:01:19 AM |
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Can anybody tell me if my issue is normal?
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madian
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March 16, 2014, 11:10:03 AM |
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Litecoin difficulty is now up to... 5162! ...with a network hashrate of 173GH/s, and only projected to continue rising higher.
That means approximately 0.18704355 LTC per MHD, or 0.00513434 BTC per MHD at the current exchange rate before fees.
Assuming power requirements of 500 watts per 1 MH/s for GPU mining, that brings the breakeven point (not considering fixed capital expenses -- e.g. your equipment), to 0.00042786 BTC, or US$0.2674 per KWh at the current exchange rate before fees.
Do you know how much your electricity costs per KWh? Or how many MH/s you generate per KWh? How much higher will the litecoin difficulty be in 2-3 days? (And how much lower the return per KWh?) How many will you be surprised at the end of the month as to how little of it you get to keep? The only GPU miners still running after the shakeout may just be in the bedrooms of children still living with their parents, in college dorm rooms, and on the sly in office buildings. Who will survive?! These are very interesting times!
Tune in next week for the exciting conclusion. Same bit time, same bit channel...
Come on comeonalready... I didn;t know you to be such a doomsday announcer... If I had a penny for all the bad predictions I heard over the years I would crawl under my rock and be a filthy rich lizzard. I've been mining since late 2012. I've mined for nothing, I broke 14 GPU's, I've mined at a loss, I've mined with great profits and every time ppl kept saying how the end of the cryptoworld is near and we should all quit. For some, THIS is not a game. If you want to gain enough then you have to stick with the plan and do your homeworks. The market is flooded with Sunday miners and ppl who just want to get rich fast without even understanding what the hell they are doing. They will be the first to go and unfortunately because of all the hype and late jumpers, altcoins with never recover but what the hell, we keep on mining. And as I said before many times, ASICS will not scare hardcore miners, we'll just have to find something else to play with our rigs. Bottom line is, this is not and will not be the end of GPU rigs. But if you feel like selling then I'm definitely buying. |
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comeonalready
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March 16, 2014, 12:30:33 PM
Last edit: March 16, 2014, 02:10:57 PM by comeonalready |
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Come on comeonalready... I didn;t know you to be such a doomsday announcer... If I had a penny for all the bad predictions I heard over the years I would crawl under my rock and be a filthy rich lizzard.
I've been mining since late 2012. I've mined for nothing, I broke 14 GPU's, I've mined at a loss, I've mined with great profits and every time ppl kept saying how the end of the cryptoworld is near and we should all quit. For some, THIS is not a game. If you want to gain enough then you have to stick with the plan and do your homeworks. The market is flooded with Sunday miners and ppl who just want to get rich fast without even understanding what the hell they are doing. They will be the first to go and unfortunately because of all the hype and late jumpers, altcoins with never recover but what the hell, we keep on mining. And as I said before many times, ASICS will not scare hardcore miners, we'll just have to find something else to play with our rigs.
Bottom line is, this is not and will not be the end of GPU rigs. But if you feel like selling then I'm definitely buying.
You touch upon certain subjects that I don't particularly care to discuss publicly, though I will admit that my own particular situation is such that I will be able to continue to mine profitably with GPUs for quite some time to come, so they are not yet for sale! But ASICs are a very real threat to the viability of profitably mining scrypt coins with GPUs, though I find it highly unlikely that another option would not surface as a suitable alternative. The beauty of cryptocoin architecture is that we can all collectively mine only as many coins as the underlying network is designed to make available to us. |
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igoork
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March 16, 2014, 03:59:03 PM |
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Happend to me also a few times, i would like to know too why if anyone can help? Using wafflepool only. |
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gaalx
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March 16, 2014, 04:43:33 PM |
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CoinBuzz
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March 16, 2014, 05:06:51 PM |
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Come on comeonalready... I didn;t know you to be such a doomsday announcer... If I had a penny for all the bad predictions I heard over the years I would crawl under my rock and be a filthy rich lizzard.
I've been mining since late 2012. I've mined for nothing, I broke 14 GPU's, I've mined at a loss, I've mined with great profits and every time ppl kept saying how the end of the cryptoworld is near and we should all quit. For some, THIS is not a game. If you want to gain enough then you have to stick with the plan and do your homeworks. The market is flooded with Sunday miners and ppl who just want to get rich fast without even understanding what the hell they are doing. They will be the first to go and unfortunately because of all the hype and late jumpers, altcoins with never recover but what the hell, we keep on mining. And as I said before many times, ASICS will not scare hardcore miners, we'll just have to find something else to play with our rigs.
Bottom line is, this is not and will not be the end of GPU rigs. But if you feel like selling then I'm definitely buying.
I agree with you, cryptoworld ends when miners leave it, until then there will be always something to mine with gpu. If it wasn't, we would make one ! For now, please take a look at Vertcoin (VTC) for mining with your rigs. |
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igroock
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Activity: 84
Merit: 10
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March 16, 2014, 06:31:33 PM |
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I truly wish everyone luck with mining. Rates on coins and profitability are coming down like world trade. The investment into hardware is no longer justified based on the returns, especially with summer around the corner which requires MUCH more electricity for cooling. Seems those who pay the least for their electric will benefit. Especially when you consider the influx of miners that are taking advantage of lower prices on hardware (recently they have been discounted), the more people mine the quicker coins go down the tubes. I now realize that I could have made WAY more in arbitrage vs. putting money into mining directly.
Sorry to discourage anyone. Good luck.
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igroock
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Activity: 84
Merit: 10
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March 16, 2014, 06:34:07 PM |
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Come on comeonalready... I didn;t know you to be such a doomsday announcer... If I had a penny for all the bad predictions I heard over the years I would crawl under my rock and be a filthy rich lizzard.
I've been mining since late 2012. I've mined for nothing, I broke 14 GPU's, I've mined at a loss, I've mined with great profits and every time ppl kept saying how the end of the cryptoworld is near and we should all quit. For some, THIS is not a game. If you want to gain enough then you have to stick with the plan and do your homeworks. The market is flooded with Sunday miners and ppl who just want to get rich fast without even understanding what the hell they are doing. They will be the first to go and unfortunately because of all the hype and late jumpers, altcoins with never recover but what the hell, we keep on mining. And as I said before many times, ASICS will not scare hardcore miners, we'll just have to find something else to play with our rigs.
Bottom line is, this is not and will not be the end of GPU rigs. But if you feel like selling then I'm definitely buying.
I agree with you, cryptoworld ends when miners leave it, until then there will be always something to mine with gpu. If it wasn't, we would make one ! For now, please take a look at Vertcoin (VTC) for mining with your rigs. An influx of miners will only raise the sale of coins which will drive down price and difficulty, which in itself a big negative. It wont die, which is good for the currency itself, but the miner will no longer make money. |
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zneww
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March 16, 2014, 06:39:41 PM |
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Only the strong will survive  |
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azebro
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March 16, 2014, 07:45:47 PM |
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Have you counted the benefit of heating your house with rigs?
I'd estimate savings of ~£500 in heating oil thanks to rigs being distributed across the house (use mainly 270s so quite quiet though).
This argument holds true in the winter time. Much less in the summer. Electricity prices in SE Europe are still quite low. Prices in the north of Europe are also high (Germany, Denmark). What about moving rigs to SE Europe? I have 26 rigs and 73 GPUs in total (280x and 7970s mainly). I am negotiating for lower prices for electricity. Feel free to contact me. In Northern Ireland it holds for 8 out of 12 months  |
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azebro
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March 16, 2014, 08:19:44 PM |
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Is the whale back again  |
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lagster
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March 16, 2014, 08:56:01 PM |
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Is the whale back again something went wrong at ghio and like last time he came back. he will go when ghio will start getting blocks again. |
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phzi
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March 16, 2014, 09:15:17 PM |
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sfire can you please f off with all your GHs and let us mine other coins...
What other coins? sfire's hashing power isn't stopping WafflePool from mining anything right now. @PoolWaffle: I think automatic shift length adjustment is much needed on WafflePool right now. Maybe make a lookup table based on current hashrate? Shifts are flying by way too fast right now (just over 1/minute). |
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gtraah
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March 17, 2014, 12:04:33 AM |
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So guys, when is this going to be as profitable as mining litecoin directly? its very close isn't it? When that happens is it even worth mining at multipools?
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igroock
Member
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Activity: 84
Merit: 10
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March 17, 2014, 12:47:24 AM |
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So guys, when is this going to be as profitable as mining litecoin directly? its very close isn't it? When that happens is it even worth mining at multipools?
Answer is no. While many coins are popping up that may seem profitable, it's only for a short period until people sell them all off and drive the value down. |
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