310 Mhash/s is $0.01 per day? | Bitcointalksearch.org

DirtFighter

member

Activity: 62

Merit: 10

Quote from: coreyman on June 09, 2014, 03:44:02 AM

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?

You can always look into the other Algo's…. x11, X13 Scrypt-n, Groestl, Keccak, Quark and exchange those for BTC. Waffle-pool multi mines Scrypt-n and X11 and I think they are working on X13. Do a little investigating before you just trash your cards

sukamasoto

legendary

Activity: 1148

Merit: 1006

Black Panther

you should try mining altcoin
dogecoin can with mine and exchanged at the currency exchange

Harley997

sr. member

Activity: 266

Merit: 250

Quote from: DrG on June 17, 2014, 02:56:25 AM

Quote from: Harley997 on June 15, 2014, 02:46:01 AM

Quote from: DrG on June 15, 2014, 12:00:04 AM

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.

I guess the very small miners are basically a suckers game.

KiddAvent

newbie

Activity: 8

Merit: 0

maybe u can buy an ASIC, sha 256 or scrypt,
but no guarantee for asic too, because if we use a GPU, maybe u can sell it again if we want change,maybe to other gamer who need it,if asic,u can't sell it again,
so,which the best, u decide again, Wink

DrG

legendary

Activity: 2086

Merit: 1035

Quote from: Harley997 on June 15, 2014, 02:46:01 AM

Quote from: DrG on June 15, 2014, 12:00:04 AM

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.

Harley997

sr. member

Activity: 266

Merit: 250

Quote from: DrG on June 15, 2014, 12:00:04 AM

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.

DrG

legendary

Activity: 2086

Merit: 1035

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.

nwfella

legendary

Activity: 1610

Merit: 1000

Well hello there!

Quote from: DolanDuck on June 09, 2014, 10:43:05 AM

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.

tuanvie

sr. member

Activity: 448

Merit: 250

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

Harley997

sr. member

Activity: 266

Merit: 250

Quote from: TheDragonSlayer on June 13, 2014, 10:31:50 AM

Quote from: coreyman on June 09, 2014, 03:44:02 AM

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.

TheDragonSlayer

sr. member

Activity: 273

Merit: 250

Quote from: coreyman on June 09, 2014, 03:44:02 AM

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.

Bitsaurus

hero member

Activity: 873

Merit: 1007

Quote from: zvs on June 11, 2014, 03:18:48 AM

Quote from: coreyman on June 09, 2014, 12:50:12 PM

Quote from: zvs on June 09, 2014, 12:44:52 PM

Quote from: JohanM on June 09, 2014, 04:19:52 AM

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

zvs

legendary

Activity: 1680

Merit: 1000

https://web.archive.org/web/*/nogleg.com

Quote from: coreyman on June 09, 2014, 12:50:12 PM

Quote from: zvs on June 09, 2014, 12:44:52 PM

Quote from: JohanM on June 09, 2014, 04:19:52 AM

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.

Harley997

sr. member

Activity: 266

Merit: 250

Quote from: coreyman on June 09, 2014, 03:44:02 AM

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.

coreyman

newbie

Activity: 4

Merit: 0

Quote from: zvs on June 09, 2014, 12:44:52 PM

Quote from: JohanM on June 09, 2014, 04:19:52 AM

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?

zvs

legendary

Activity: 1680

Merit: 1000

https://web.archive.org/web/*/nogleg.com

Quote from: JohanM on June 09, 2014, 04:19:52 AM

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

coreyman

newbie

Activity: 4

Merit: 0

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.

DolanDuck

full member

Activity: 196

Merit: 101

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.

coreyman

newbie

Activity: 4

Merit: 0

Quote from: Justin00 on June 09, 2014, 06:57:17 AM

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.

Justin00

legendary

Activity: 910

Merit: 1000

★YoBit.Net★ 350+ Coins Exchange & Dice

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.

Topic: 310 Mhash/s is $0.01 per day? (Read 2286 times)