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Author Topic: 310 Mhash/s is $0.01 per day?  (Read 2141 times)
coreyman
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June 09, 2014, 07:44:02 AM
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So according to a lot of popular profitability calculators taking in current exchange rate and difficulty settings, I will be losing money at 310Mhash/s with my Radeon 7800 Series due to power costs. Should I trash this card and get a different one? Or throw out GPU mining altogether and go with an ASIC?
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Mikez
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June 09, 2014, 07:47:01 AM
 #2

No point in trying to mine with it, other than playing around and learning about mining.
Maybe you can try and mine some really new altcoins and hope that the price increases.

My advice, buy an ASIC, either for SHA256 or Scrypt.

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June 09, 2014, 08:04:34 AM
 #3

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JohanM
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June 09, 2014, 08:19:52 AM
 #4

Mining with this card was never profitable when taking into account the bitcoin price at the time of mining.
In 2010/2011 you could mine lots of bitcoins with this card but the coins were essentially worthless at the time.
The rise of bitcoin price made it (hugely) profitable after the fact, but so would buying 1000USD worth of coins at that time (at 0.05 $/BTC)

Same situation today. The card will cost many times more in electricity than it will get in bitcoins.
If the bitcoin price rises to 1,000,000 USD even this would be profitable.

That being said, using GPU today to mine bitcoins is completely a big no-no. Asic's are the only way now because with todays bitcoin prices you can marginally get your investment back.

For investment purposes this is not the way to go. It is much simpeler just buying the coins and holding them (in well protected wallet, read up on this FIRST).
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June 09, 2014, 10:57:17 AM
 #5

0.01/day... what about in a month ? wouldn't difficulty make it 0.00001/month ?
I don't know much about mining, i just hear things lol.

coreyman
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June 09, 2014, 01:54:01 PM
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0.01/day... what about in a month ? wouldn't difficulty make it 0.00001/month ?
I don't know much about mining, i just hear things lol.

No the difficulty is included with the current profitability calculators.
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June 09, 2014, 02:43:05 PM
 #7

If you want to have some fun by trading, buy a new hardware to mine scrypt coins,
if you want some easy profit just buy bitcoins and hold them long term.

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coreyman
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June 09, 2014, 04:25:49 PM
 #8

Also apparently mining on the CPU affects Mhash/s from the GPU so much that it isn't worth it to mine on CPU and GPU and the same time.
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June 09, 2014, 04:44:52 PM
 #9

Mining with this card was never profitable when taking into account the bitcoin price at the time of mining.
In 2010/2011 you could mine lots of bitcoins with this card but the coins were essentially worthless at the time.
The rise of bitcoin price made it (hugely) profitable after the fact, but so would buying 1000USD worth of coins at that time (at 0.05 $/BTC)

Same situation today. The card will cost many times more in electricity than it will get in bitcoins.
If the bitcoin price rises to 1,000,000 USD even this would be profitable.

That being said, using GPU today to mine bitcoins is completely a big no-no. Asic's are the only way now because with todays bitcoin prices you can marginally get your investment back.

For investment purposes this is not the way to go. It is much simpeler just buying the coins and holding them (in well protected wallet, read up on this FIRST).

2010, maybe.  not 2011.  I payed off half a dozen 5830's in about 10 days

Dacentec, best deals for US dedicated servers. They regularly restock $20-$25 Opterons with 8-16GB RAM & 2x1-2TB HDD's (ofc, usually lots of other good stuff to choose from).  I did a Serverbear benchmark of one of my $20/mo Opteron (June last year), it's here.  Have had about a half dozen different servers with Dacentec, & none have failed to sustain at least 40MB/s (burst higher). My favorite is a 12-month rent-to-own ZT Systems 2XL5520 16GB 2x2TB SATA for $40/month (got lucky with the 'off-brand', haven't seen a RTO 2xL5520 for under $50/mo since -- at least for monthly contracts).  wholesaleinternet.com has some ancient 2-core intel CPUs @ $10/mo sometimes (I got an Intel Core 2 6300 @ 1.86GHz, with a 250GB HDD with 46000 hours on it, LOL. $20 @ Dacentec is much better, if you can grab one). joesdatacenter.com (same location as Wholesale Internet) also occasionally has specials (or if you don't want to wait, it has an AMD Opteron 170 @ $16/mo).
coreyman
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June 09, 2014, 04:50:12 PM
 #10

Mining with this card was never profitable when taking into account the bitcoin price at the time of mining.
In 2010/2011 you could mine lots of bitcoins with this card but the coins were essentially worthless at the time.
The rise of bitcoin price made it (hugely) profitable after the fact, but so would buying 1000USD worth of coins at that time (at 0.05 $/BTC)

Same situation today. The card will cost many times more in electricity than it will get in bitcoins.
If the bitcoin price rises to 1,000,000 USD even this would be profitable.

That being said, using GPU today to mine bitcoins is completely a big no-no. Asic's are the only way now because with todays bitcoin prices you can marginally get your investment back.

For investment purposes this is not the way to go. It is much simpeler just buying the coins and holding them (in well protected wallet, read up on this FIRST).

2010, maybe.  not 2011.  I payed off half a dozen 5830's in about 10 days


What do you suggest for this point in time? 6/9/2014?
Harley997
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June 11, 2014, 04:38:30 AM
 #11

So according to a lot of popular profitability calculators taking in current exchange rate and difficulty settings, I will be losing money at 310Mhash/s with my Radeon 7800 Series due to power costs. Should I trash this card and get a different one? Or throw out GPU mining altogether and go with an ASIC?

GPUs have been unprofitable for a good part of a year now. You would earn very close to 0 BTC and would still have your electric costs.

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zvs
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June 11, 2014, 07:18:48 AM
 #12

Mining with this card was never profitable when taking into account the bitcoin price at the time of mining.
In 2010/2011 you could mine lots of bitcoins with this card but the coins were essentially worthless at the time.
The rise of bitcoin price made it (hugely) profitable after the fact, but so would buying 1000USD worth of coins at that time (at 0.05 $/BTC)

Same situation today. The card will cost many times more in electricity than it will get in bitcoins.
If the bitcoin price rises to 1,000,000 USD even this would be profitable.

That being said, using GPU today to mine bitcoins is completely a big no-no. Asic's are the only way now because with todays bitcoin prices you can marginally get your investment back.

For investment purposes this is not the way to go. It is much simpeler just buying the coins and holding them (in well protected wallet, read up on this FIRST).

2010, maybe.  not 2011.  I payed off half a dozen 5830's in about 10 days


What do you suggest for this point in time? 6/9/2014?

I'd suggest buying bitcoins if you think their price is going to go up.  ASICs are all incredibly overpriced, as is the 'rented' ghash at cex.io (they'd use it themselves if they made more money that way).

GPUs are pointless for bitcoins.

If you're a gamer and have a good card and live with your parents, they probably wouldn't notice an extra $10 or something on their electricity bill if you mined some scrypt coin at night or somesuch.  You should be able to make a little bit off of that.

Dacentec, best deals for US dedicated servers. They regularly restock $20-$25 Opterons with 8-16GB RAM & 2x1-2TB HDD's (ofc, usually lots of other good stuff to choose from).  I did a Serverbear benchmark of one of my $20/mo Opteron (June last year), it's here.  Have had about a half dozen different servers with Dacentec, & none have failed to sustain at least 40MB/s (burst higher). My favorite is a 12-month rent-to-own ZT Systems 2XL5520 16GB 2x2TB SATA for $40/month (got lucky with the 'off-brand', haven't seen a RTO 2xL5520 for under $50/mo since -- at least for monthly contracts).  wholesaleinternet.com has some ancient 2-core intel CPUs @ $10/mo sometimes (I got an Intel Core 2 6300 @ 1.86GHz, with a 250GB HDD with 46000 hours on it, LOL. $20 @ Dacentec is much better, if you can grab one). joesdatacenter.com (same location as Wholesale Internet) also occasionally has specials (or if you don't want to wait, it has an AMD Opteron 170 @ $16/mo).
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June 11, 2014, 08:02:05 PM
 #13

Mining with this card was never profitable when taking into account the bitcoin price at the time of mining.
In 2010/2011 you could mine lots of bitcoins with this card but the coins were essentially worthless at the time.
The rise of bitcoin price made it (hugely) profitable after the fact, but so would buying 1000USD worth of coins at that time (at 0.05 $/BTC)

Same situation today. The card will cost many times more in electricity than it will get in bitcoins.
If the bitcoin price rises to 1,000,000 USD even this would be profitable.

That being said, using GPU today to mine bitcoins is completely a big no-no. Asic's are the only way now because with todays bitcoin prices you can marginally get your investment back.

For investment purposes this is not the way to go. It is much simpeler just buying the coins and holding them (in well protected wallet, read up on this FIRST).

2010, maybe.  not 2011.  I payed off half a dozen 5830's in about 10 days


What do you suggest for this point in time? 6/9/2014?

I'd suggest buying bitcoins if you think their price is going to go up.  ASICs are all incredibly overpriced, as is the 'rented' ghash at cex.io (they'd use it themselves if they made more money that way).

GPUs are pointless for bitcoins.

If you're a gamer and have a good card and live with your parents, they probably wouldn't notice an extra $10 or something on their electricity bill if you mined some scrypt coin at night or somesuch.  You should be able to make a little bit off of that.

True but if you're living with parents, you're probably in your own room and have your PC close to your head.  Most people don't want 50-100% fans buzzing in their ears at night - at least not for the 10 cents a day it makes  Sad
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June 13, 2014, 02:31:50 PM
 #14

So according to a lot of popular profitability calculators taking in current exchange rate and difficulty settings, I will be losing money at 310Mhash/s with my Radeon 7800 Series due to power costs. Should I trash this card and get a different one? Or throw out GPU mining altogether and go with an ASIC?

The good part about GPU is, you can mine anything with it so go look for one that is profitable.

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June 13, 2014, 04:02:18 PM
 #15

So according to a lot of popular profitability calculators taking in current exchange rate and difficulty settings, I will be losing money at 310Mhash/s with my Radeon 7800 Series due to power costs. Should I trash this card and get a different one? Or throw out GPU mining altogether and go with an ASIC?

The good part about GPU is, you can mine anything with it so go look for one that is profitable.

You may be "able" to mine anything with it, but it may not always be profitable to do so.

If you pay more in electric costs then the value of the coins a GPU mines then you can't "really" mine that coin with it as it is not economically advantageous to do so.

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June 14, 2014, 02:57:34 AM
 #16

I will try to buy the fury gawminres 1.3 MH / s.
are still able to profit?

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June 14, 2014, 07:05:34 PM
 #17

If you want to have some fun by trading, buy a new hardware to mine scrypt coins,
if you want some easy profit just buy bitcoins and hold them long term.
+1 This.  Unless you have a time machine to get back to 2010/2011 your pretty much screwed as far as profitability goes trying to mine BTC with a GPU.  You'll lose slightly less money every month if you switch over to some Scrypt-N, or X11/X13 based coin but more than likely unless you have free electricity your still looking at a net loss.

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June 15, 2014, 04:00:04 AM
 #18

You can get a lot of these card on the cheap on eBay due to all the miners dumping them.  Scrypt hashrates are going up with ASICs now.

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Harley997
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June 15, 2014, 06:46:01 AM
 #19

You can get a lot of these card on the cheap on eBay due to all the miners dumping them.  Scrypt hashrates are going up with ASICs now.

The problem with this is that even if you get the cards cheaply they are still unprofitable to operate.

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June 17, 2014, 06:56:25 AM
 #20

You can get a lot of these card on the cheap on eBay due to all the miners dumping them.  Scrypt hashrates are going up with ASICs now.

The problem with this is that even if you get the cards cheaply they are still unprofitable to operate.

That's why they're dumped on eBay and not here saving the seller a 20% fee.  When there was a shortage you could sell a 5830 on here and now there's a glut of cards.

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