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Author Topic: October 2014. Are GPU rigs useless?  (Read 8127 times)
clem84
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October 04, 2014, 08:28:28 PM
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Just came back from a 4 months hiatus from the world of crytos. My GPU rigs have been asleep for the summer because of the heat. Right now, is it still possible to use a GPU rig in a manner that will be profitable? Or should I just dismantle them and sell the parts?
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October 04, 2014, 09:28:44 PM
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Just came back from a 4 months hiatus from the world of crytos. My GPU rigs have been asleep for the summer because of the heat. Right now, is it still possible to use a GPU rig in a manner that will be profitable? Or should I just dismantle them and sell the parts?

The days of mining shitcoins and dumping them on fools is over more or less, only the real coins will survive these shakeouts

mining and holding good coins is still totally viable med-long term

that being said, sell the rig and get cloud mining, thats what all the cool kids are doing these days
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October 05, 2014, 09:03:13 AM
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I don't know why miners are selling their amd cards even below half of the price they bought.

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October 05, 2014, 10:34:22 AM
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I don't know why miners are selling their amd cards even below half of the price they bought.

Its because the GTX750 and GTX9xx are about 100% more energy efficient.

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October 05, 2014, 10:52:56 AM
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I don't know why miners are selling their amd cards even below half of the price they bought.

Its because the GTX750 and GTX9xx are about 100% more energy efficient.

btw GTX 9xx have yet to be put fully to work and be worked 100% so for the time being the 750ti's are still a better pick.
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October 12, 2014, 11:27:56 AM
 #6

I don't know why miners are selling their amd cards even below half of the price they bought.

Its because the GTX750 and GTX9xx are about 100% more energy efficient.

btw GTX 9xx have yet to be put fully to work and be worked 100% so for the time being the 750ti's are still a better pick.

Meh, AMD cards aren't being fully utilized, either - in some algs, an AMD card will stomp even a GTX 9xx in hash/watt, if done properly.

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November 09, 2014, 11:49:00 PM
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I don't know why miners are selling their amd cards even below half of the price they bought.

Some probably bought during the GPU boom and are now trying to get anything in return.  It's kind of like panic dumping.
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November 10, 2014, 12:04:20 AM
 #8

I don't know why miners are selling their amd cards even below half of the price they bought.

Some probably bought during the GPU boom and are now trying to get anything in return.  It's kind of like panic dumping.

Yay for cheap cards Cheesy

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November 10, 2014, 12:28:05 AM
 #9

Just came back from a 4 months hiatus from the world of crytos. My GPU rigs have been asleep for the summer because of the heat. Right now, is it still possible to use a GPU rig in a manner that will be profitable? Or should I just dismantle them and sell the parts?
I would definately not sell them. There are still some coins around that can be very profitable with GPUs,  or even have algos that only support CPUs and GPUs.

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November 10, 2014, 12:34:31 AM
 #10

Just came back from a 4 months hiatus from the world of crytos. My GPU rigs have been asleep for the summer because of the heat. Right now, is it still possible to use a GPU rig in a manner that will be profitable? Or should I just dismantle them and sell the parts?
I would definately not sell them. There are still some coins around that can be very profitable with GPUs,  or even have algos that only support CPUs and GPUs.

This issue is too many people thinking that. You need an edge.

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November 10, 2014, 12:41:15 AM
 #11

Just came back from a 4 months hiatus from the world of crytos. My GPU rigs have been asleep for the summer because of the heat. Right now, is it still possible to use a GPU rig in a manner that will be profitable? Or should I just dismantle them and sell the parts?

Since summer is over, same goes for a lot of people. Difficulty going to increase for all algo. So yeah GPU is useless for mining.

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November 10, 2014, 01:22:18 AM
 #12

Just came back from a 4 months hiatus from the world of crytos. My GPU rigs have been asleep for the summer because of the heat. Right now, is it still possible to use a GPU rig in a manner that will be profitable? Or should I just dismantle them and sell the parts?

Since summer is over, same goes for a lot of people. Difficulty going to increase for all algo. So yeah GPU is useless for mining.

Not the case; I'm turning a profit at $0.11 USD per kWh.

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November 10, 2014, 07:35:10 AM
 #13

Just came back from a 4 months hiatus from the world of crytos. My GPU rigs have been asleep for the summer because of the heat. Right now, is it still possible to use a GPU rig in a manner that will be profitable? Or should I just dismantle them and sell the parts?

Since summer is over, same goes for a lot of people. Difficulty going to increase for all algo. So yeah GPU is useless for mining.

Not the case; I'm turning a profit at $0.11 USD per kWh.

Why do you always make posts similar to this, which inevitably leads to noobs asking you how you do so, to which you'll brag about the magic kernels that you've made and only you have access to? You give people false hope and waste time. It gets annoying.

That said, I don't think you should share your kernels and understand why you don't. Doesn't it get annoying having people beg you for them? If I were you I'd STFU about them and enjoy the extra profit, like I'm sure a good number of people do who may have just as good or even better custom kernels.
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November 10, 2014, 08:30:59 AM
 #14

Just came back from a 4 months hiatus from the world of crytos. My GPU rigs have been asleep for the summer because of the heat. Right now, is it still possible to use a GPU rig in a manner that will be profitable? Or should I just dismantle them and sell the parts?

Since summer is over, same goes for a lot of people. Difficulty going to increase for all algo. So yeah GPU is useless for mining.

Not the case; I'm turning a profit at $0.11 USD per kWh.

Wolf,
You are a dev with private (read: highly tuned, not available to public) miners.  Your situation is irrelevant and unrelatable to your average miner.  


Now, back on OP:

GPU mining is dead at the moment, but this is exactly the same situation that occurred when bitcoin asics forced out the gpu farms a while back.  Something called Scrypt then hit the scene and GPU mining was back in force.  History will repeat itself. here All of the new attention on crypto-mining has brought even more programmers and academics into the algorithm scene (Squaggle dga, you there? Grin).  This spin-cycle is real and i'll call back attention to this very post when the next "Scrypt" hits the bigs.

I recommend people not dump their farms if they have 79xx/R9 2xx cards, but that's already happening.  I am not selling a single GPU out of my farm because i know they will be put to use again in not too long.  

In fact, if i had more disposable income at the moment, i would be buying a new rig or 2.  Image how quickly a $100 280 or $200 290 would ROI itself if profitability was there.
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November 10, 2014, 09:00:43 AM
 #15

Just came back from a 4 months hiatus from the world of crytos. My GPU rigs have been asleep for the summer because of the heat. Right now, is it still possible to use a GPU rig in a manner that will be profitable? Or should I just dismantle them and sell the parts?

Since summer is over, same goes for a lot of people. Difficulty going to increase for all algo. So yeah GPU is useless for mining.

Not the case; I'm turning a profit at $0.11 USD per kWh.

Wolf,
You are a dev with private (read: highly tuned, not available to public) miners.  Your situation is irrelevant and unrelatable to your average miner.  


Now, back on OP:

GPU mining is dead at the moment, but this is exactly the same situation that occurred when bitcoin asics forced out the gpu farms a while back.  Something called Scrypt then hit the scene and GPU mining was back in force.  History will repeat itself. here All of the new attention on crypto-mining has brought even more programmers and academics into the algorithm scene (Squaggle, you there? Grin).  This spin-cycle is real and i'll call back attention to this very post when the next "Scrypt" hits the bigs.

I recommend people not dump their farms if they have 79xx/R9 2xx cards, but that's already happening.  I am not selling a single GPU out of my farm because i know they will be put to use again in not too long.  

In fact, if i had more disposable income at the moment, i would be buying a new rig or 2.  Image how quickly a $100 280 or $200 290 would ROI itself if profitability was there.

Yup GPU mining is dead for normal home user. Unless you are a good friend of wolf0 then you will be the few who is profitable...

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November 10, 2014, 11:11:50 AM
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Just came back from a 4 months hiatus from the world of crytos. My GPU rigs have been asleep for the summer because of the heat. Right now, is it still possible to use a GPU rig in a manner that will be profitable? Or should I just dismantle them and sell the parts?

Since summer is over, same goes for a lot of people. Difficulty going to increase for all algo. So yeah GPU is useless for mining.

Not the case; I'm turning a profit at $0.11 USD per kWh.

Why do you always make posts similar to this, which inevitably leads to noobs asking you how you do so, to which you'll brag about the magic kernels that you've made and only you have access to? You give people false hope and waste time. It gets annoying.

That said, I don't think you should share your kernels and understand why you don't. Doesn't it get annoying having people beg you for them? If I were you I'd STFU about them and enjoy the extra profit, like I'm sure a good number of people do who may have just as good or even better custom kernels.

also 0.11 per kwh isn't something special, unless you are running  mega farm, it's like mining air anyway
djm34
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November 10, 2014, 01:54:43 PM
 #17

Just came back from a 4 months hiatus from the world of crytos. My GPU rigs have been asleep for the summer because of the heat. Right now, is it still possible to use a GPU rig in a manner that will be profitable? Or should I just dismantle them and sell the parts?

Since summer is over, same goes for a lot of people. Difficulty going to increase for all algo. So yeah GPU is useless for mining.

Not the case; I'm turning a profit at $0.11 USD per kWh.

Wolf,
You are a dev with private (read: highly tuned, not available to public) miners.  Your situation is irrelevant and unrelatable to your average miner.  


Now, back on OP:

GPU mining is dead at the moment, but this is exactly the same situation that occurred when bitcoin asics forced out the gpu farms a while back.  Something called Scrypt then hit the scene and GPU mining was back in force.  History will repeat itself. here All of the new attention on crypto-mining has brought even more programmers and academics into the algorithm scene (Squaggle, you there? Grin).  This spin-cycle is real and i'll call back attention to this very post when the next "Scrypt" hits the bigs.

I recommend people not dump their farms if they have 79xx/R9 2xx cards, but that's already happening.  I am not selling a single GPU out of my farm because i know they will be put to use again in not too long.  

In fact, if i had more disposable income at the moment, i would be buying a new rig or 2.  Image how quickly a $100 280 or $200 290 would ROI itself if profitability was there.

Yup GPU mining is dead for normal home user. Unless you are a good friend of wolf0 then you will be the few who is profitable...

gpu mining will remain dead as long as gpu miners keep selling way below profitability rather than not selling at all (which would lead to higher price... but hey... gpu miner have only bills no self esteem and are definitely short sighted Grin)
If miners sells their unused gpu in the same spirit they sell coins, we should see soon lots of 750ti at 10euros...  Grin

So if gpu mining is dying it is mostly the fact of miners themselves, don't blame the market for your wrong doing and poor skills in selling your coins...

just in case: I'd be happy to buy 2 gtx980 for 20euros, so pm me if interested, this offer will last only today (the market so low, it is a very good deal no way you could sell them higher than that fud fud fud...  Grin)

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November 10, 2014, 03:50:06 PM
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I tried many coins and now i can seriously say they are useless atm.
bensam123
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November 11, 2014, 05:57:57 PM
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Pretty much... Mining is a sinking ship for miners right now. It doesn't help that every coin an their mom is PoS now. The big coins that have sailed through x11 and x13 to PoS is mind boggling. The only ones getting fucked are miners.

I'm definitely considering parting my rigs. 'Break Even' with power isn't breaking even. It doesn't include ROI; Outstanding loans and interest (if applicable) and the fact that you're sitting on a buttload of money in hardware which is constantly depreciating.

gpu mining will remain dead as long as gpu miners keep selling way below profitability rather than not selling at all (which would lead to higher price... but hey... gpu miner have only bills no self esteem and are definitely short sighted Grin)
If miners sells their unused gpu in the same spirit they sell coins, we should see soon lots of 750ti at 10euros...  Grin

So if gpu mining is dying it is mostly the fact of miners themselves, don't blame the market for your wrong doing and poor skills in selling your coins...

just in case: I'd be happy to buy 2 gtx980 for 20euros, so pm me if interested, this offer will last only today (the market so low, it is a very good deal no way you could sell them higher than that fud fud fud...  Grin)

I don't think that will ever come around. With the invention of sites like Nicehash, miners that are dying off are sucking other miners down with them. People who use Nicehash don't have to worry about returns, so they'll pay as little as possible for coins pulling everything down with it until miners simply turn their miners off.

If you look at NH right now for instance, everything is super negative. I highly doubt those miners are paying a lot less in power then me, all have super optimized kernels, or super efficient hardware. They're just circling the drain and sucking everyone else down with them as they go. It will always gravitate towards the bottom. Even as difficulty decreases due to less miners, it will still equalize with power rates, as the only ones who will make more money are NH users and not miners, especially considering that the market is essentially run by bots. The cycle continues over and over again till we're just left with average joes mining on their CPUs on a whim.

The hardware war of ASICs doesn't exist in the GPU scene, so buying your way to the top doesn't work. We're all stuck with the same hardware.

If there was any one thing responsible for the death of GPU mining right now I'd say it's cloud mining like NH. It gives miners that don't know where to find coins a glimmer of hope where there is none and people who can find coins the ability to suck them dry.
djm34
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November 11, 2014, 06:33:01 PM
 #20

Pretty much... Mining is a sinking ship for miners right now. It doesn't help that every coin an their mom is PoS now. The big coins that have sailed through x11 and x13 to PoS is mind boggling. The only ones getting fucked are miners.

A few rules of thumb to keep profitability where it should be and take back altcoin from penny-stock fraudsters

* stop mining/buying ipo coin (we know they are scams organized by p&d groups) and mining it is just giving credit to them.
* stop mining/buying coin which doesn't show any innovation

You might say that the other aren't profitable, but it is mostly the case because the money seems to go there... they are p&d scheme... so basically it just from the right pocket to the left pocket of some people...

So say no to scam coin...  Grin
(because for a small one time profit, you kill your long term profit)

 

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