Good Bye Mining, See you at 10$ and Amd 7000

SlaveInDebt

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Your Minion

Quote from: bcpokey on October 10, 2011, 11:21:33 PM

Quote from: Fiyasko on October 10, 2011, 11:17:16 AM

Quote from: wndrbr3d on October 09, 2011, 08:30:10 PM

WELL FOLKS, as of this evening I'm shutting down my miners. At $4, with the current difficulty + electricity ($0.091) my monthly "profit" is at ~$30...... Shocked

If I want to speculate, I'll just buy the bitcoins with fiat, because then they'd be cheaper than mining them. Perhaps with the next difficulty drop, I'll turn it back on.. but unless price goes up, I think I'm going dark for a bit.

Well for me, If my miners stop "breaking even" I still get Super Extremetly Inexpensive Heating. Like. $5/mo to heat my 10room house

What the crap do you do with a 10 room house?

Those with more capital make more capital. Welcome to capitalism.

Unacceptable

legendary

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Merit: 1001

Quote from: bcpokey on October 10, 2011, 11:21:33 PM

Quote from: Fiyasko on October 10, 2011, 11:17:16 AM

Quote from: wndrbr3d on October 09, 2011, 08:30:10 PM

WELL FOLKS, as of this evening I'm shutting down my miners. At $4, with the current difficulty + electricity ($0.091) my monthly "profit" is at ~$30...... Shocked

If I want to speculate, I'll just buy the bitcoins with fiat, because then they'd be cheaper than mining them. Perhaps with the next difficulty drop, I'll turn it back on.. but unless price goes up, I think I'm going dark for a bit.

Well for me, If my miners stop "breaking even" I still get Super Extremetly Inexpensive Heating. Like. $5/mo to heat my 10room house

What the crap do you do with a 10 room house?

Brothel?

bcpokey

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Quote from: Fiyasko on October 10, 2011, 11:17:16 AM

Quote from: wndrbr3d on October 09, 2011, 08:30:10 PM

WELL FOLKS, as of this evening I'm shutting down my miners. At $4, with the current difficulty + electricity ($0.091) my monthly "profit" is at ~$30...... Shocked

If I want to speculate, I'll just buy the bitcoins with fiat, because then they'd be cheaper than mining them. Perhaps with the next difficulty drop, I'll turn it back on.. but unless price goes up, I think I'm going dark for a bit.

Well for me, If my miners stop "breaking even" I still get Super Extremetly Inexpensive Heating. Like. $5/mo to heat my 10room house

What the crap do you do with a 10 room house?

Fiyasko

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Activity: 1428

Merit: 1001

Okey Dokey Lokey

Quote from: wndrbr3d on October 09, 2011, 08:30:10 PM

WELL FOLKS, as of this evening I'm shutting down my miners. At $4, with the current difficulty + electricity ($0.091) my monthly "profit" is at ~$30...... Shocked

If I want to speculate, I'll just buy the bitcoins with fiat, because then they'd be cheaper than mining them. Perhaps with the next difficulty drop, I'll turn it back on.. but unless price goes up, I think I'm going dark for a bit.

Well for me, If my miners stop "breaking even" I still get Super Extremetly Inexpensive Heating. Like. $5/mo to heat my 10room house

wndrbr3d

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Activity: 914

Merit: 500

WELL FOLKS, as of this evening I'm shutting down my miners. At $4, with the current difficulty + electricity ($0.091) my monthly "profit" is at ~$30...... Shocked

If I want to speculate, I'll just buy the bitcoins with fiat, because then they'd be cheaper than mining them. Perhaps with the next difficulty drop, I'll turn it back on.. but unless price goes up, I think I'm going dark for a bit.

wndrbr3d

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At $3.50 I'm shutting down my rigs. Basically it'll cost me less money to buy 1 BTC per day than to mine it.

Unacceptable

legendary

Activity: 2212

Merit: 1001

Quote from: Reckman on September 29, 2011, 10:49:15 PM

Closed out my last rig today, ended up profitabe with some great memories so net win =)

Final numbers are 440 BTC profit, had 5.2 ghash with 5000 invested.

I'm somewhat with ya,I'll keep 1 rig running ,as I have no other use for it & it's only $20 month to run.

Fiyasko

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Okey Dokey Lokey

Quote from: grod on October 03, 2011, 06:31:51 PM

Quote from: Fiyasko on October 03, 2011, 11:39:35 AM

Aside from that, I feel confident that the only ones mining right now are:
People that dont pay thier own elecbill
People with a large mining Farm
People who just dont want to hit Off, on their comps for the night, when they could instead hit ON on thier miners

Hell 15/7 i run at -f250, And at night i swap to -f8

Deepbit is less than 20% off of its highs. Are you positive 80% of the mining community fits into your 4 categories?

May I present an alternative. My power rate is 4.6 cents/kwhr. My 2x overclocked, undervolted 5830 rig pulls 380 watts from the wall. With all the distribution fees I am at 6 c/kwhr, or 400x24/1000*.06 = 60 cents a day, or $1.80 a bitcoin. Let's call it $20 a month to generate a bit over 8 coins, which are worth $40. This is loosely confirmed by my power bill which is only a hair higher than same time last year (although temperatures differ by 2 degrees).

Hardware was paid off after 6-7 days in July, and being 5830s it's not very valuable now. So even $20/month after power costs beats $0, considering it's completely effort free money. If this persists for another 10 months it's another free video card.

now im <55% sure

grod

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Quote from: Fiyasko on October 03, 2011, 11:39:35 AM

Aside from that, I feel confident that the only ones mining right now are:
People that dont pay thier own elecbill
People with a large mining Farm
People who just dont want to hit Off, on their comps for the night, when they could instead hit ON on thier miners

Hell 15/7 i run at -f250, And at night i swap to -f8

Deepbit is less than 20% off of its highs. Are you positive 80% of the mining community fits into your 4 categories?

May I present an alternative. My power rate is 4.6 cents/kwhr. My 2x overclocked, undervolted 5830 rig pulls 380 watts from the wall. With all the distribution fees I am at 6 c/kwhr, or 400x24/1000*.06 = 60 cents a day, or $1.80 a bitcoin. Let's call it $20 a month to generate a bit over 8 coins, which are worth $40. This is loosely confirmed by my power bill which is only a hair higher than same time last year (although temperatures differ by 2 degrees).

Hardware was paid off after 6-7 days in July, and being 5830s it's not very valuable now. So even $20/month after power costs beats $0, considering it's completely effort free money. If this persists for another 10 months it's another free video card.

Fiyasko

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Okey Dokey Lokey

Quote from: AngelusWebDesign on October 03, 2011, 01:17:38 AM

I don't know; I think some people mention it as if they get "free electricity" due to their own cunning, intelligence, or courage. It's ridiculous when you think about it.

Either they live with mom & dad, they're renting, or they happen to be in college.

They half imply that they're somehow more awesome because they had enough confidence in themselves to go ahead and call the electric company and insist on being switched to the "free plan", which most of us have insufficient manhood to do Cheesy

I can say i have free energy, I bought soloar panels, Then the panels payed themselves off, Now the sun is giving me free energy!

Lol yes? no?

Aside from that, I feel confident that the only ones mining right now are:
People that dont pay thier own elecbill
People with a large mining Farm
People who just dont want to hit Off, on their comps for the night, when they could instead hit ON on thier miners

Hell 15/7 i run at -f250, And at night i swap to -f8

AngelusWebDesign

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I don't know; I think some people mention it as if they get "free electricity" due to their own cunning, intelligence, or courage. It's ridiculous when you think about it.

Either they live with mom & dad, they're renting, or they happen to be in college.

They half imply that they're somehow more awesome because they had enough confidence in themselves to go ahead and call the electric company and insist on being switched to the "free plan", which most of us have insufficient manhood to do Cheesy

Manko

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Quote from: JonHind on October 01, 2011, 09:32:18 PM

Quote from: wknight on October 01, 2011, 05:04:55 PM

Free electricity has made it a lot easier staying with mining BTC.. if it wasnt for that I am sure a lot more people would be joining ya.

Unless you have power generating devices, electricity is never free. Someone pays for it somewhere. Just saying Wink

I think people need to start qualifying what they are saying, even though for most of us the implication is obvious, free to the miner.

JonHind

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Quote from: wknight on October 01, 2011, 05:04:55 PM

Free electricity has made it a lot easier staying with mining BTC.. if it wasnt for that I am sure a lot more people would be joining ya.

Unless you have power generating devices, electricity is never free. Someone pays for it somewhere. Just saying Wink

worldinacoin

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You are still mining at 560.9mhash at deepbit

wknight

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Bitcoin calls me an Orphan

Free electricity has made it a lot easier staying with mining BTC.. if it wasnt for that I am sure a lot more people would be joining ya.

Fiyasko

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Okey Dokey Lokey

Quote from: Syberia on October 01, 2011, 10:22:30 AM

I mined for about a week on my gaming pc (single 6950) before I realized I wasn't making any money at current prices, at that point I bought $200 worth of bitcoins, exchanged half of them to i0coins, and woke up today to realize that investment lost half its value in less than 24 hours. Fun times, but nothing to do right now except tough it out, leave my money in there, and hope things turn around. Oh, and buy more cheap i0coins

EDIT: I might buy your 6990 for a reasonable price when the 7000s come out. I am more interested in gaming than mining, and for that it will be fine.

Indeed, and my target market is majority gamers rather than miners

Reckman

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Quote from: Syberia on October 01, 2011, 10:22:30 AM

I mined for about a week on my gaming pc (single 6950) before I realized I wasn't making any money at current prices, at that point I bought $200 worth of bitcoins, exchanged half of them to i0coins, and woke up today to realize that investment lost half its value in less than 24 hours. Fun times, but nothing to do right now except tough it out, leave my money in there, and hope things turn around. Oh, and buy more cheap i0coins

EDIT: I might buy your 6990 for a reasonable price when the 7000s come out. I am more interested in gaming than mining, and for that it will be fine.

lol forks...what were you expecting

Syberia

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I mined for about a week on my gaming pc (single 6950) before I realized I wasn't making any money at current prices, at that point I bought $200 worth of bitcoins, exchanged half of them to i0coins, and woke up today to realize that investment lost half its value in less than 24 hours. Fun times, but nothing to do right now except tough it out, leave my money in there, and hope things turn around. Oh, and buy more cheap i0coins

EDIT: I might buy your 6990 for a reasonable price when the 7000s come out. I am more interested in gaming than mining, and for that it will be fine.

Fiyasko

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Okey Dokey Lokey

As soon as the 7000's Actually "hit the market" It's gonna be SOOO hard to sell a 6990...

Anyone wanna buy a 6990 when the 7000series comes out? Lemme know.

I plan to sell my MSI6990 413mhash/core@925core once the 7000's come out, So. When they come out, PM me, And i'll most likely sell you my 6990

worldinacoin

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Nice to see someone in the green with bitcoin mining and hope to see you soon! Sure hope bitcoin will be $10 soon enough

Manko

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Quote from: Reckman on September 29, 2011, 11:53:54 PM

Quote from: worldinacoin on September 29, 2011, 11:23:13 PM

See you then, thanks for the cards, anticipating their arrival soon

Oh im not leaving bitcoins, just mining, invested all of that paypal money back into BTC

That's how I have made most of my money with cryptocurrency; buy and sell.

I haven't mined BTC in many weeks. My miners are currently gathering the other cryptocurrencies, speculating that sometime in the future, they will rise to a value I'd be happy to sell at. Total gamble, but hey, no risk, no reward

JonHind

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I anticipated the current dip and got out of mining a couple of months back (& managed to sell my equipment for virtually the same price that I paid for it) . I feel your sadness. Hitting the power button for the final time was quite an emotional moment.

I believe that new hardware opportunities in the future along with a potential bounce in bitcoin value will see us all mining once again.

Reckman

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Quote from: worldinacoin on September 29, 2011, 11:23:13 PM

See you then, thanks for the cards, anticipating their arrival soon

Oh im not leaving bitcoins, just mining, invested all of that paypal money back into BTC

worldinacoin

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See you then, thanks for the cards, anticipating their arrival soon

Reckman

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Quote from: pennytrader on September 29, 2011, 11:05:03 PM

Good for you. Still trying to sell my remaining 5830s but apparently they're not that hot now...

Probably asking too much or maybe people are catching on to how ineffiecient they are vs almost anh other card.

I bet for 80$/ea you could sell them fast

pennytrader

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Good for you. Still trying to sell my remaining 5830s but apparently they're not that hot now...

Reckman

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Quote from: The LT on September 29, 2011, 10:51:40 PM

Time to fix your siggy then! Roll Eyes

I need the "I mined at deepbit.net"

The LT

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Time to fix your siggy then! Roll Eyes

Reckman

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Closed out my last rig today, ended up profitabe with some great memories so net win =)

Final numbers are 440 BTC profit, had 5.2 ghash with 5000 invested.

Topic: Good Bye Mining, See you at 10$ and Amd 7000 (Read 5498 times)