GPU mining is dead now. - page 3. | Bitcointalksearch.org

symzzi

member

Activity: 60

Merit: 10

Quote from: MangoJ on July 01, 2013, 06:54:06 PM

Quote from: symzzi on July 01, 2013, 06:45:27 PM

I still can't understand how you are failing to grasp this.

Say I have 1x 7950. It can achieve 590mH/s mining Bitcoin or 650kH/s mining Litecoin.

This currently equates to 0.139 Bitcoins per day (currently $1.24 in USD), or 0.777 Litecoins per day (currently $2.31 in USD).

Therefore Litecoin is 187% more profitable than Bitcoin on a 7950. Where you are getting this information that mining Litecoin earns less than Bitcoin I do not know.

THANK YOU for posting NUMBERS and not speculation.
THANK YOU.
This makes intelligent conversation based on metrics that are real.

First a 590Mh miner does not make 0.139BTC it makes 0.0139BTC. However my calculator puts that at $1.19USD so your main point is still valid, the USD money in the end is about what you said (with the dropping BTC value from the time you posted until the time I posted).

I get 650Khash = .77 LTC (2.05019 USD) (also dropped from your post time to my post time)

So yes that would appear more profitable!
You are right.
But how do you get 650K/hash when it was 590 M/hash?

Is there a mining rate converter somewhere?

Sorry I appear to have missed out a .0 on the Bitcoin amount. 0.0139 is the correct amount.

In my case based on personal experience, using a 7950 I have never been able to get above 600MH/s stable mining Bitcoin. 590MH/s stable can be achieved with GPU engine overclocking. The same card (Gigabyte WF3) flashed with F43 BIOS does 650kH/s mining scrypt on stock clocks.

MangoJ

full member

Activity: 222

Merit: 100

BTCRaven.com Escrow & Advertising

Quote from: symzzi on July 01, 2013, 06:45:27 PM

I still can't understand how you are failing to grasp this.

Say I have 1x 7950. It can achieve 590mH/s mining Bitcoin or 650kH/s mining Litecoin.

This currently equates to 0.139 Bitcoins per day (currently $1.24 in USD), or 0.777 Litecoins per day (currently $2.31 in USD).

Therefore Litecoin is 187% more profitable than Bitcoin on a 7950. Where you are getting this information that mining Litecoin earns less than Bitcoin I do not know.

THANK YOU for posting NUMBERS and not speculation.
THANK YOU.
This makes intelligent conversation based on metrics that are real.

First a 590Mh miner does not make 0.139BTC it makes 0.0139BTC. However my calculator puts that at $1.19USD so your main point is still valid, the USD money in the end is about what you said (with the dropping BTC value from the time you posted until the time I posted).

I get 650Khash = .77 LTC (2.05019 USD) (also dropped from your post time to my post time)

So yes that would appear more profitable!
You are right.
But how do you get 650K/hash when it was 590 M/hash?

Is there a mining rate converter somewhere?

symzzi

member

Activity: 60

Merit: 10

Quote from: MangoJ on July 01, 2013, 05:02:20 PM

If you are going to support the false information that was offered "50% less profitable" then you are a fool.
If you are not going to read what I said, you should not attempt to insult me. (I began this thread saying I have already earned more than my ROI.)
So lets talk about my ROI in the past, not the future. Nice attempt to sound like a big shot with your buzzwords but you just blew your facade but trying to sound cool.

Bottom line, you are avoiding the FACT that today, and tomorrow litecoin earns LESS than BTC, and BTC is dead to GPU unless you have free power or want to risk burning out a GPU and then go into the negative.
That is to say nothing of ROI, which is long dead for GPU mining if you are thinking of buying GPUs today.

On another note, I noticed you claim to mine multiple coins. A foolish speculative play when you can clearly see which is the better, mine that, and switch to the top coin of the day as needed.
Instead you waste your timing mining dead coins?

Yes and yes? So....

(PS: Learn to read at least the first post, and keep your story straight so you don't get called out.)

I still can't understand how you are failing to grasp this.

Say I have 1x 7950. It can achieve 590mH/s mining Bitcoin or 650kH/s mining Litecoin.

This currently equates to 0.139 Bitcoins per day (currently $1.24 in USD), or 0.777 Litecoins per day (currently $2.31 in USD).

Therefore Litecoin is 187% more profitable than Bitcoin on a 7950. Where you are getting this information that mining Litecoin earns less than Bitcoin I do not know.

tacotime

legendary

Activity: 1484

Merit: 1005

Itt maximum jimmy overrustle

malevolent

legendary

Activity: 3472

Merit: 1722

Quote from: MangoJ on July 01, 2013, 04:55:32 PM

Also the labor of monitoring miners and rebooting them when they are slow or go offline.

If you actually have to spend time on that, you are pushing your GPUs too far.
They should be able to stay stable for at least 2-4 weeks.

As for the fact that it's no longer worth it, I agree.

BitCoiner2012

sr. member

Activity: 364

Merit: 250

Quote from: MangoJ on July 01, 2013, 05:07:25 PM

Quote from: BitCoiner2012 on July 01, 2013, 04:57:27 PM

Ever considered solar or other alternatives if energy is one of your chief concerns? Though it sounds like there are a lot more things about mining that bother you, understandably so.

I once read a threat where these guys suggested getting a NASA engineer, or a nuclear engineer for some job....
It took about 10 posts before someone called them out for being stuck up snobs to suggest such an unreasonable overkill solution.

If I had 10,000 K Watts of solar power.....
How much do you think that solar power equipment would cost?
Given the smallest most optimistic rate of difficulty increase and ASIC network speed increast,
Do you believe that would make ROI, ever?
No offense. I think you were being genuine when you suggested solar.

I wonder if anyone has had experience renting "free utilities" rental offers, and just using up all that power?
A lease with utilities included seems plausible.

Solar is only viable I would suggest if you receive free GPU, free mining eq that consumes power (more gpu, etc..), etc. In other words, if power is what is keeping you from profiting. I wouldn't suggest new hardware with investment in solar, unless purely speculative mining is taking place. The new ASICs are too low on power for it to be a concern for SHA256 coins, but that's where Scrypt comes in. I plan to use my old GPU farm mostly toward LTC and eventually on solar if the remaining SHA256 become completely unprofitable. But it's not about mining X coins per day and liquidating, as a miner, for me, watching and playing the market is important. When you convert TRC/PPC/ or whatever coin to BTC is important. Or maybe you don't want to convert that alt, like LTC.

As far as the cost, I did recent research and it's not as expensive as you would imagine, particularly if fabricating yourself. I estimated several thousand dollars would set me up based on generic costs of certain cells available, but I'm still looking into it as I have a lot more on my plate and the coal company can provide me for now. But I have two very nice east and west roof tops.

However, remember the benefits of solar go beyond mining.

MangoJ

full member

Activity: 222

Merit: 100

BTCRaven.com Escrow & Advertising

Quote from: BitCoiner2012 on July 01, 2013, 05:07:04 PM

In the event that you were actually interested in corresponding, yes, I do mine a variety of coins. In fact, I haven't specifically mined BTC for quite some time as a primary coin and that has turned out well for me. However I don't consider it dead, rather a fallback in the event other coins are not profitable for me, as they sometimes are not. Other coins I will continue to mine as "fairweather", like LTC PPLNS, but I have other miners I switch around based on RBPPS systems generally speaking. Not sure what you mean about mining "dead coins", to which coins are you referring to? A lot of assumptions! Just ask, the information comes out easier. I have more than one miner.

To me, LTC is past dead and some people just cant do the math because they are stuck on their dreams of the future of LTC.
BTC is alive to ASIC, and alive to GPU if you are confident you wont break a GPU in the process. If you do burn one out, you just lost money you will never get back at this rate of difficulty increase and ASIC taking over.

MangoJ

full member

Activity: 222

Merit: 100

BTCRaven.com Escrow & Advertising

Quote from: BitCoiner2012 on July 01, 2013, 04:57:27 PM

Ever considered solar or other alternatives if energy is one of your chief concerns? Though it sounds like there are a lot more things about mining that bother you, understandably so.

I once read a threat where these guys suggested getting a NASA engineer, or a nuclear engineer for some job....
It took about 10 posts before someone called them out for being stuck up snobs to suggest such an unreasonable overkill solution.

If I had 10,000 K Watts of solar power.....
How much do you think that solar power equipment would cost?
Given the smallest most optimistic rate of difficulty increase and ASIC network speed increast,
Do you believe that would make ROI, ever?
No offense. I think you were being genuine when you suggested solar.

I wonder if anyone has had experience renting "free utilities" rental offers, and just using up all that power?
A lease with utilities included seems plausible.

BitCoiner2012

sr. member

Activity: 364

Merit: 250

Quote from: MangoJ on July 01, 2013, 05:02:20 PM

Quote from: BitCoiner2012 on July 01, 2013, 04:53:55 PM

Quote from: MangoJ on July 01, 2013, 04:41:24 PM

Quote from: tacotime on July 01, 2013, 10:40:53 AM

Bitcoin mining is 50% less profitable than Litecoin mining right now, see coinchoose.com

Please explain to us how you think that litecoin is more profitable than bitcoin?
50% is such a nice even rounded number, that I'd like to know how you mathematically reached it.

That website does not compare BTC to litecoin.

I used a litecoin calculator and found that it earns less coin and less USD per GPU.

I am NOT using "room to grow" speculation.
Speculation is guessing. Guessing is not fact.
Lets talk about today, not the hypothetical future.

If you're only interested in talking about "today", you may very well not mine. Are you going to invest, get ROI today? Anytime near today? Ever before? No and no. So...

If you are going to support the false information that was offered "50% less profitable" then you are a fool.
If you are not going to read what I said, you should not attempt to insult me. (I began this thread saying I have already earned more than my ROI.)
So lets talk about my ROI in the past, not the future. Nice attempt to sound like a big shot with your buzzwords but you just blew your facade but trying to sound cool.

Bottom line, you are avoiding the FACT that today, and tomorrow litecoin earns LESS than BTC, and BTC is dead to GPU unless you have free power or want to risk burning out a GPU and then go into the negative.
That is to say nothing of ROI, which is long dead for GPU mining if you are thinking of buying GPUs today.

On another note, I noticed you claim to mine multiple coins. A foolish speculative play when you can clearly see which is the better, mine that, and switch to the top coin of the day as needed.
Instead you waste your timing mining dead coins?

Yes and yes? So....

(PS: Learn to read at least the first post, and keep your story straight so you don't get called out.)

You get really fired up over very little. I think you looked a little too far into what I was saying. I was simply implying looking at a coin price today and expecting anything over time on that particular number when mining is not something I would advise, which isn't what you're retorting to.. Sorry about the "buzz words".

In the event that you were actually interested in corresponding, yes, I do mine a variety of coins. In fact, I haven't specifically mined BTC for quite some time as a primary coin and that has turned out well for me. However I don't consider it dead, rather a fallback in the event other coins are not profitable for me, as they sometimes are not. Other coins I will continue to mine as "fairweather" (edit I mean the opposite), like LTC PPLNS, but I have other miners I switch around based on RBPPS systems generally speaking. Not sure what you mean about mining "dead coins", to which coins are you referring to? A lot of assumptions! Just ask, the information comes out easier. I have more than one miner.

MangoJ

full member

Activity: 222

Merit: 100

BTCRaven.com Escrow & Advertising

Quote from: BitCoiner2012 on July 01, 2013, 04:53:55 PM

Quote from: MangoJ on July 01, 2013, 04:41:24 PM

Quote from: tacotime on July 01, 2013, 10:40:53 AM

Bitcoin mining is 50% less profitable than Litecoin mining right now, see coinchoose.com

Please explain to us how you think that litecoin is more profitable than bitcoin?
50% is such a nice even rounded number, that I'd like to know how you mathematically reached it.

That website does not compare BTC to litecoin.

I used a litecoin calculator and found that it earns less coin and less USD per GPU.

I am NOT using "room to grow" speculation.
Speculation is guessing. Guessing is not fact.
Lets talk about today, not the hypothetical future.

If you're only interested in talking about "today", you may very well not mine. Are you going to invest, get ROI today? Anytime near today? Ever before? No and no. So...

If you are going to support the false information that was offered "50% less profitable" then you are a fool.
If you are not going to read what I said, you should not attempt to insult me. (I began this thread saying I have already earned more than my ROI.)
So lets talk about my ROI in the past, not the future. Nice attempt to sound like a big shot with your buzzwords but you just blew your facade but trying to sound cool.

Bottom line, you are avoiding the FACT that today, and tomorrow litecoin earns LESS than BTC, and BTC is dead to GPU unless you have free power or want to risk burning out a GPU and then go into the negative.
That is to say nothing of ROI, which is long dead for GPU mining if you are thinking of buying GPUs today.

On another note, I noticed you claim to mine multiple coins. A foolish speculative play when you can clearly see which is the better, mine that, and switch to the top coin of the day as needed.
Instead you waste your timing mining dead coins?

Yes and yes? So....

(PS: Learn to read at least the first post, and keep your story straight so you don't get called out.)

BitCoiner2012

sr. member

Activity: 364

Merit: 250

Quote from: MangoJ on July 01, 2013, 04:55:32 PM

Quote from: squall1066 on July 01, 2013, 04:49:20 PM

Sorry, I just don't get it, If the rigs have paid for themselves and you (were) making $157 after bills, Then where is the problem?
My threshold is tighter, But I still make a profit, I am not going to turn off until I end up spending money in running rigs, Then I would just buy BTC and sit on it.

The problem is the dropping value in BTC, below $90 today.
Also the HEAT. Hottest day of the year, and I already have to open all doors and windows 24/7. Fire hazzard.
Running GPUs 24/7 is wear and tear.
If I burn out one GPU, and I am only making $157 per month, I just lost money because each GPU is worth more than that.
So it is not worth the risk of burning out 1 GPU.
Also the discomfort.
Also the dropping BTC.
Also the labor of monitoring miners and rebooting them when they are slow or go offline.

Congradulations to you for riding this out until the end.
I prefer not to lose money.

If someone has any info on free power.. I would run 1 of my miners for them!

Ever considered solar or other alternatives if energy is one of your chief concerns? Though it sounds like there are a lot more things about mining that bother you, understandably so.

MangoJ

full member

Activity: 222

Merit: 100

BTCRaven.com Escrow & Advertising

Quote from: squall1066 on July 01, 2013, 04:49:20 PM

Sorry, I just don't get it, If the rigs have paid for themselves and you (were) making $157 after bills, Then where is the problem?
My threshold is tighter, But I still make a profit, I am not going to turn off until I end up spending money in running rigs, Then I would just buy BTC and sit on it.

The problem is the dropping value in BTC, below $90 today.
Also the HEAT. Hottest day of the year, and I already have to open all doors and windows 24/7. Fire hazzard.
Running GPUs 24/7 is wear and tear.
If I burn out one GPU, and I am only making $157 per month, I just lost money because each GPU is worth more than that.
So it is not worth the risk of burning out 1 GPU.
Also the discomfort.
Also the dropping BTC.
Also the labor of monitoring miners and rebooting them when they are slow or go offline.

Congradulations to you for riding this out until the end.
I prefer not to lose money.

If someone has any info on free power.. I would run 1 of my miners for them!

BitCoiner2012

sr. member

Activity: 364

Merit: 250

Quote from: MangoJ on July 01, 2013, 04:41:24 PM

Quote from: tacotime on July 01, 2013, 10:40:53 AM

Bitcoin mining is 50% less profitable than Litecoin mining right now, see coinchoose.com

Please explain to us how you think that litecoin is more profitable than bitcoin?
50% is such a nice even rounded number, that I'd like to know how you mathematically reached it.

That website does not compare BTC to litecoin.

I used a litecoin calculator and found that it earns less coin and less USD per GPU.

I am NOT using "room to grow" speculation.
Speculation is guessing. Guessing is not fact.
Lets talk about today, not the hypothetical future.

If you're only interested in talking about "today", you may very well not mine. Are you going to invest, get ROI today? Anytime near today? Ever before? No and no. So...

squall1066

copper member

Activity: 2310

Merit: 1032

Quote from: MangoJ on July 01, 2013, 04:44:53 PM

Quote from: philips on July 01, 2013, 08:59:02 AM

Quote from: MangoJ on June 30, 2013, 05:30:04 PM

5 minutes ago I went down to the mine and powered off each of my 6 GPU miner rigs.
I ran the numbers, with power at .087 per k watt hour,
12000M hash speed,
current low BTC rate 94.06
Diff: 21,335,329

I would make 157 USD per month.
But BTC may or may not drop, then after BTC exchange rate fees, pool fees, transfer fees,,
GPU mining is not worth it anymore. Not for 157 and change for the heat and stress on the equipment.

Not arguing about GPU mining these days, but I still can make about 295$/month with 10GH (at current numbers).
(probably more if I undervolt my cards even further...but I doubt it's worth the effort for just few more weeks)

Very nice for you.
I am not overclocking otherwise I'd get more, but I'd burn the hell out of the cards or the room which is already super hot.
Windows and doors open 24/7!
My $157 quote is after the power bill (estimate)

Sorry, I just don't get it, If the rigs have paid for themselves and you (were) making $157 after bills, Then where is the problem?
My threshold is tighter, But I still make a profit, I am not going to turn off until I end up spending money in running rigs, Then I would just buy BTC and sit on it.

philips

hero member

Activity: 700

Merit: 500

I am not overclocking, just undervolting and I pay 0.17 per k watt hour.
Temps around 55 C.

MangoJ

full member

Activity: 222

Merit: 100

BTCRaven.com Escrow & Advertising

Quote from: philips on July 01, 2013, 08:59:02 AM

Quote from: MangoJ on June 30, 2013, 05:30:04 PM

5 minutes ago I went down to the mine and powered off each of my 6 GPU miner rigs.
I ran the numbers, with power at .087 per k watt hour,
12000M hash speed,
current low BTC rate 94.06
Diff: 21,335,329

I would make 157 USD per month.
But BTC may or may not drop, then after BTC exchange rate fees, pool fees, transfer fees,,
GPU mining is not worth it anymore. Not for 157 and change for the heat and stress on the equipment.

Not arguing about GPU mining these days, but I still can make about 295$/month with 10GH (at current numbers).
(probably more if I undervolt my cards even further...but I doubt it's worth the effort for just few more weeks)

Very nice for you.
I am not overclocking otherwise I'd get more, but I'd burn the hell out of the cards or the room which is already super hot.
Windows and doors open 24/7!
My $157 quote is after the power bill (estimate)

MangoJ

full member

Activity: 222

Merit: 100

BTCRaven.com Escrow & Advertising

Quote from: tacotime on July 01, 2013, 10:40:53 AM

Bitcoin mining is 50% less profitable than Litecoin mining right now, see coinchoose.com

Please explain to us how you think that litecoin is more profitable than bitcoin?
50% is such a nice even rounded number, that I'd like to know how you mathematically reached it.

That website does not compare BTC to litecoin.

I used a litecoin calculator and found that it earns less coin and less USD per GPU.

I am NOT using "room to grow" speculation.
Speculation is guessing. Guessing is not fact.
Lets talk about today, not the hypothetical future.

Lolbbqcabbage

newbie

Activity: 14

Merit: 0

He is right, for me anyway Bitcoin mining is dead.

Using dustcoin to calc my set up of 1200mh/kh 600w power and 0.23c power costs.

I in fact lose $19.70 a month, with litecoin I am making $33.90 a month.

So in a sense he right about Bitcoin, go low powered hardware AKA asics or it's not worth it unless power is free. However he is wrong about litecoin, it still has plenty of room to grow into.

zvs

legendary

Activity: 1680

Merit: 1000

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

If you don't mind wasting time on rebates;

http://www.newegg.com/Product/Product.aspx?Item=N82E16814127726

is a really good deal on Newegg right now. Card (radeon 7790) is about $80 after selling the games and doing the MIR.

tacotime

legendary

Activity: 1484

Merit: 1005

Quote from: MangoJ on July 01, 2013, 04:35:14 AM

Quote from: hrrsn on June 30, 2013, 11:40:45 PM

Quote from: Quix on June 30, 2013, 09:02:24 PM

Alt coins are also dead, Litecoin is the last to go down but it's going and will be gone soon.

Why do you say that? Litecoin is currently ASIC proof so there will be a lot of GPU workers going there over the next few months, also it is small but steadily growing, much like Bitcoin was. Once MtGox starts trading LTC we'll see a lot more market validation.

Right now, using GPU mining, LITEcoin is LESS profitable than BTC.
BTC is already not profitable for people to get into. GPUs cost too much, use too much power, and don't earn enough.
They earn even LESS money than BTC.

I checked the exchange rate for Litecoin with my mining power, and I make more mining BTC.
Yet I shut down my miners because it isn't enough to bother with.

Therefore Litecoin was dead before it ever went mainstream. Much like HD-DVD back when that was competing against Bluray disks.

Bitcoin was in the news, on TV, on talkshows, mentioned by the black market.
Nobody cares about Litecoin but people that don't yet know that they are burning out their CPUs and GPUs on a dying currency.
Sure they can make $10 USD a month mining litecoin, but that is foolish when they could make $15 a month on BTC currently.

Overheating my house and burning up my GPUs is no longer worth the little $150 I get after the power bill.
Anyone doing litecoin is terrible at math and or accounting.

Litecoin is totally dead.

BTC is alive.

Bitcoin mining is 50% less profitable than Litecoin mining right now, see coinchoose.com

Topic: GPU mining is dead now. - page 3. (Read 18058 times)