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Author Topic: What to do with my GPUs when ASIC arrives?  (Read 8713 times)
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August 06, 2012, 01:55:12 PM
 #21

Well this means nothing. Maybe they were ppl who bought enuff bitcoin with dollars to buy the ASIC, for them it doesn't matter if a btc is worth 5 or 10$

Yes, buying them at 5 and waiting until they are at 10 and then buying the ASIC is a good idea but it's called speculation. You would need a crystal ball to see the future to do that reliably  Cheesy

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August 06, 2012, 02:00:35 PM
 #22

Well this means nothing. Maybe they were ppl who bought enuff bitcoin with dollars to buy the ASIC, for them it doesn't matter if a btc is worth 5 or 10$

Yes, buying them at 5 and waiting until they are at 10 and then buying the ASIC is a good idea but it's called speculation. You would need a crystal ball to see the future to do that reliably  Cheesy


speculation: these things will perform 10-20% of their advertised speeds, 40% will break within 4 months of receiving them. My e-peen will be the largest on the forum by the time this comes around Smiley


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P!nk4sand
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August 06, 2012, 10:14:09 PM
 #23

sell them and leave 1 for gaming Grin
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August 09, 2012, 11:30:44 PM
 #24

Hey guys, as the title says:
What should I do with my GPUs when ASIC arrives?
And I want to make money, I already have contributed enough to Folding@Home.

Cheers

You should join our pool, and you'll be able to profitably mine with your GPU after ASICs hit!

https://bitcointalk.org/index.php?topic=99643.0
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August 19, 2012, 09:19:13 AM
 #25



why did I think of mountains of gold when I saw that ?
ugh, to bad cost still bigger then profit ...

Anny way, keep mining join a pool and be happy you have gpu's and not fpga's  Grin


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August 19, 2012, 05:29:35 PM
 #26

why did I think of mountains of gold when I saw that ?
ugh, to bad cost still bigger then profit ...

Anny way, keep mining join a pool and be happy you have gpu's and not fpga's  Grin


I'd rather have FPGA's because I'm an electrical engineer and leftover (unprofitable) FPGA hardware can just become some compute-heavy hardware for some projects  Smiley
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August 19, 2012, 11:24:47 PM
 #27

You could give it to me Grin
Go for science dude, Try for BOINC >> https://boinc.berkeley.edu/
Use them for science!

http://milkyway.cs.rpi.edu/milkyway/

That is one project that runs very well on ATI cards!
Milkyway@home is part of it. Cheers Smiley
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September 03, 2012, 05:25:19 PM
Last edit: September 03, 2012, 05:35:50 PM by VeeMiner
 #28

Well this means nothing. Maybe they were ppl who bought enuff bitcoin with dollars to buy the ASIC, for them it doesn't matter if a btc is worth 5 or 10$

Yes, buying them at 5 and waiting until they are at 10 and then buying the ASIC is a good idea but it's called speculation. You would need a crystal ball to see the future to do that reliably  Cheesy


speculation: these things will perform 10-20% of their advertised speeds, 40% will break within 4 months of receiving them. My e-peen will be the largest on the forum by the time this comes around Smiley


I can't wait for the time when my mini rig comes and I will mine with 40 Ghash/s and you will be left with your few petty GPUs, I can't wait to see your e-peen then Cheesy. Anyway, I don't like that people are baselessly accusing BFL of scam. Let's just wait and see who is right in the end...
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September 03, 2012, 05:31:02 PM
 #29

Oh nice the forum has an ignore feature!

Goodbye, VeeMiner.

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September 03, 2012, 06:31:20 PM
 #30

Well this means nothing. Maybe they were ppl who bought enuff bitcoin with dollars to buy the ASIC, for them it doesn't matter if a btc is worth 5 or 10$

Yes, buying them at 5 and waiting until they are at 10 and then buying the ASIC is a good idea but it's called speculation. You would need a crystal ball to see the future to do that reliably  Cheesy


speculation: these things will perform 10-20% of their advertised speeds, 40% will break within 4 months of receiving them. My e-peen will be the largest on the forum by the time this comes around Smiley


I can't wait for the time when my mini rig comes and I will mine with 40 Ghash/s and you will be left with your few petty GPUs, I can't wait to see your e-peen then Cheesy. Anyway, I don't like that people are baselessly accusing BFL of scam. Let's just wait and see who is right in the end...

1. There is no MiniRig that does 40Ghash/s. It's called SC Single.
2. Your 40Ghash/s will be worth not much once the difficulty goes up so don't get too excited about mining with it.
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September 03, 2012, 07:12:05 PM
 #31


1. There is no MiniRig that does 40Ghash/s. It's called SC Single.
2. Your 40Ghash/s will be worth not much once the difficulty goes up so don't get too excited about mining with it.

sorry for the wrong name of the product. I meant SC single of course. I'm counting on the difficulty to go up by 15-20x, who knows, maybe more. It will still be profitable though. I'm just trying to make a point that lot of people write bad things about BFL, but it's a lot of baseless accusations.

I just came to bitcoin couple months ago and I really like the idea and I want to get a piece of the cake with the mining evolution that's going on right now...
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September 08, 2012, 12:20:43 PM
Last edit: September 08, 2012, 12:37:27 PM by macsga
 #32

In my opinion, it all makes sense when you compare what the network production/equity is now, with the one that will be, when the Asic miners come in. If you think about it a bit; the current exchange rate is about $12 for 1BC. That means you need about 100BC or $1200 for a BFL, SC and 40GH/s. You need about 100 days, to produce 100BC at a rate of 1BC/day with an average setup that sets you back about $1000 to $1200 (a couple of 5970s, a couple of 6870s, and some 6950s) and gives you 2.5GH/s.

Now, lets project this for a while to after 6 months to 1 year. By that time, lets asume that EVERYONE (who can afford it) will mine with an asic by then. The difficulty should respectively rise to actively produce an average for 40GH/s lets say 1BC/day. This means on a direct comparison that your (future) 40GH/s equals with the (today's) 2.5GH/s. Respectively you will be at the same position minus the initial 100BC you gave to buy the asic, minus the cost of the videocards (if you don't manage to sell them, or want to keep them anyway).

It's all about the Benjamins gentlemen. My advice is (that's what I'm gonna do) to quit mining and while the price is still low; I'll prefer buying 1BC per day. When this won't be feasible anymore, I will have a fair amount of BCs to buy myself a couple of asics at 1/3 or even less of the current price... and won't mind about the loss. Of course I'll stand out from mining for a fair amount of time, but what is time? Isn't money..? Wink

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September 08, 2012, 07:16:35 PM
 #33

It's all about the Benjamins gentlemen.

This is where you are wrong.  The reason bitcoin exists is because there is a problem with the benjamins... The fucking Federal Reseve (a private bank) keeps printing them and handing them out to there friends and governments that do not have our best interest in mind.

Sure bitcoin is a big risk but if it works the payoff will be greater than holding gold or silver.  This is what people like myself see and make decisions based on that not On how much federal reserve notes we will get right now.
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September 08, 2012, 07:20:41 PM
 #34

I already have contributed enough to Folding@Home.

Cheers

you can never contribute "enough" to Folding@Home


that said, AMD cards suck balls at folding

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September 08, 2012, 07:21:06 PM
 #35

In my opinion, it all makes sense when you compare what the network production/equity is now, with the one that will be, when the Asic miners come in. If you think about it a bit; the current exchange rate is about $12 for 1BC. That means you need about 100BC or $1200 for a BFL, SC and 40GH/s. You need about 100 days, to produce 100BC at a rate of 1BC/day with an average setup that sets you back about $1000 to $1200 (a couple of 5970s, a couple of 6870s, and some 6950s) and gives you 2.5GH/s.

Now, lets project this for a while to after 6 months to 1 year. By that time, lets asume that EVERYONE (who can afford it) will mine with an asic by then. The difficulty should respectively rise to actively produce an average for 40GH/s lets say 1BC/day. This means on a direct comparison that your (future) 40GH/s equals with the (today's) 2.5GH/s. Respectively you will be at the same position minus the initial 100BC you gave to buy the asic, minus the cost of the videocards (if you don't manage to sell them, or want to keep them anyway).

It's all about the Benjamins gentlemen. My advice is (that's what I'm gonna do) to quit mining and while the price is still low; I'll prefer buying 1BC per day. When this won't be feasible anymore, I will have a fair amount of BCs to buy myself a couple of asics at 1/3 or even less of the current price... and won't mind about the loss. Of course I'll stand out from mining for a fair amount of time, but what is time? Isn't money..? Wink


Good post dude....


I am goign to mine as hard as possible with my GPU's while you guys are waiting on these ASIC's ....I'll use my coins to buy some when they are released and are working.. But I doubt i'll buy through BFL....


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and blockchain education. ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀

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September 08, 2012, 08:32:25 PM
 #36

It's all about the Benjamins gentlemen.

This is where you are wrong.  The reason bitcoin exists is because there is a problem with the benjamins... The fucking Federal Reseve (a private bank) keeps printing them and handing them out to there friends and governments that do not have our best interest in mind.

Sure bitcoin is a big risk but if it works the payoff will be greater than holding gold or silver.  This is what people like myself see and make decisions based on that not On how much federal reserve notes we will get right now.

Hehe. It's just a phrase; as we say "a matter of speaking". The "Benjamins" were just another word for money / bitcoins / any means of exchange really. I wasn't referring to the fiat money. IMHO, Bitcoin is NOT a big risk. It's the next step; and frankly, my opinion is that's gonna be what's left after everything else has failed...

...except; if we have no computers and/or electricity and/or internet...

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September 08, 2012, 09:10:16 PM
 #37

In my opinion, it all makes sense when you compare what the network production/equity is now, with the one that will be, when the Asic miners come in. If you think about it a bit; the current exchange rate is about $12 for 1BC. That means you need about 100BC or $1200 for a BFL, SC and 40GH/s. You need about 100 days, to produce 100BC at a rate of 1BC/day with an average setup that sets you back about $1000 to $1200 (a couple of 5970s, a couple of 6870s, and some 6950s) and gives you 2.5GH/s.

Now, lets project this for a while to after 6 months to 1 year. By that time, lets asume that EVERYONE (who can afford it) will mine with an asic by then. The difficulty should respectively rise to actively produce an average for 40GH/s lets say 1BC/day. This means on a direct comparison that your (future) 40GH/s equals with the (today's) 2.5GH/s. Respectively you will be at the same position minus the initial 100BC you gave to buy the asic, minus the cost of the videocards (if you don't manage to sell them, or want to keep them anyway).

It's all about the Benjamins gentlemen. My advice is (that's what I'm gonna do) to quit mining and while the price is still low; I'll prefer buying 1BC per day. When this won't be feasible anymore, I will have a fair amount of BCs to buy myself a couple of asics at 1/3 or even less of the current price... and won't mind about the loss. Of course I'll stand out from mining for a fair amount of time, but what is time? Isn't money..? Wink

I agreed with everything you said, right up until the part where you said to stop mining. Why would you not mine now, before the difficult spikes and it requires ASICs to make 1BTC/day?

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September 08, 2012, 09:42:45 PM
 #38

In my opinion, it all makes sense when you compare what the network production/equity is now, with the one that will be, when the Asic miners come in. If you think about it a bit; the current exchange rate is about $12 for 1BC. That means you need about 100BC or $1200 for a BFL, SC and 40GH/s. You need about 100 days, to produce 100BC at a rate of 1BC/day with an average setup that sets you back about $1000 to $1200 (a couple of 5970s, a couple of 6870s, and some 6950s) and gives you 2.5GH/s.

Now, lets project this for a while to after 6 months to 1 year. By that time, lets asume that EVERYONE (who can afford it) will mine with an asic by then. The difficulty should respectively rise to actively produce an average for 40GH/s lets say 1BC/day. This means on a direct comparison that your (future) 40GH/s equals with the (today's) 2.5GH/s. Respectively you will be at the same position minus the initial 100BC you gave to buy the asic, minus the cost of the videocards (if you don't manage to sell them, or want to keep them anyway).

(snip)

Absolutely agree and this was my thought on the matter as well.  The difficulty may make it eventually that the Single takes as long as a GPU to pay itself off but given that in the overall scheme of things it costs a fair bit less than a full system with many GPUs or multiple systems combined, I'm not too worried.  As long as we all get ROI, whenever that is, IMO, that's fine for me.

Oh Loaded, who art up in Mt. Gox, hallowed be thy name!  Thy dollars rain, thy will be done, on BTCUSD.  Give us this day our daily 10% 30%, and forgive the bears, as we have bought their bitcoins.  And lead us into quadruple digits
Gabi
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September 08, 2012, 10:26:23 PM
 #39

I already have contributed enough to Folding@Home.

Cheers

you can never contribute "enough" to Folding@Home


that said, AMD cards suck balls at folding
Luckily there are tons of other project that run very well on AMD cards

ARapalo
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September 09, 2012, 12:13:02 AM
 #40

Sorry, n00b question, but about when will these ASICs arrive? I'm in the same boat with a couple of these old GPUs.
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