Very interesting input from everyone.
Even the guy thanking me saying "more for me!" My 12G/h does not effect the overall speed of the BTC network and it is silly for him to think that is more for him.
My mining was profitable and I mined until it was no longer profitable.
BTC value is dropping. If it goes above 130 I would stay in it, but it is not.
Transfer fees suck, ASCI preorders take forever, it is a fad that I do not see lasting unfortunately.
At this point my equipment is worth more than any amount of BTC I could still get.
1 BTC every 4 days is not worth my time if it is under $100.
Nor the stress on the gear, and monitoring GPUs which like to crash.
I could learn about Hashcat!
But I'm selling gear if anyone needs anything, I have... everything. lol
It was fun and I will enjoy trading BTC with people for stuff.
I spent all mine on USB eruptors which I intend to sell on ebay after I get them.
Topic: GPU mining is dead now. - page 5. (Read 18058 times)
It's definitely approaching lights off for GPU mining. The difficulty is going up very rapidly and it's just not economical any more. Investing in new GPU hardware has been stupid for a few months, GPU hashing should be totally dead by the end of the summer.
Alt coins are also dead, Litecoin is the last to go down but it's going and will be gone soon.
Long story short, ASICs are quickly becoming the only economical option but at the prices being charged by most vendors you may still have issues making back what you pay for them. If someone was mass producing at BFL's prices maybe, but then every hash would be worth less overall. As for me I'm thinking that my best option to just to get out of the business. This situation combined with government crackdowns on Bitcoin-centric businesses mean other businesses are more profitable.
Also, if you're thinking of the future value of Bitcoin it could be $0. It's a speculative market and that makes it very volatile.
Alt coins are also dead, Litecoin is the last to go down but it's going and will be gone soon.
Long story short, ASICs are quickly becoming the only economical option but at the prices being charged by most vendors you may still have issues making back what you pay for them. If someone was mass producing at BFL's prices maybe, but then every hash would be worth less overall. As for me I'm thinking that my best option to just to get out of the business. This situation combined with government crackdowns on Bitcoin-centric businesses mean other businesses are more profitable.
Also, if you're thinking of the future value of Bitcoin it could be $0. It's a speculative market and that makes it very volatile.
Doesn't take into account future price rise of BTC. If they are worth $500 in a years time then is your hardware still profitable? By the way $0.087 /kWh is low, it's $0.28+ where I live...
If they are worth $500 why bother investing in GPUs and not buy BTCs?
Not all of us area able to put mass amount of instant cash into hopes and dreams. A small amount of electricity cost is a lot easier to cope with. haha
But if you put the same $ for electricity into buying BTC, you are supporting the BTC economy instead of the local utility. It is more likely the price will rise under that scenario. If you make a profit, that is another story, but at break even you really should not be doing it that way.
Doesn't take into account future price rise of BTC. If they are worth $500 in a years time then is your hardware still profitable? By the way $0.087 /kWh is low, it's $0.28+ where I live...
If they are worth $500 why bother investing in GPUs and not buy BTCs?
Not all of us area able to put mass amount of instant cash into hopes and dreams. A small amount of electricity cost is a lot easier to cope with. haha
well.. he's almost right. it'll be dead by the end of the year for sure
If your machines are not efficient or your power is over 15 cents a kwh it is probably best to stop and sell the gear now. You might be making a small profit but you are putting wear on items you could sell now. If you think BTC is going to rise, sell the gear and buy BTC.
Doesn't take into account future price rise of BTC. If they are worth $500 in a years time then is your hardware still profitable? By the way $0.087 /kWh is low, it's $0.28+ where I live...
If they are worth $500 why bother investing in GPUs and not buy BTCs?
Doesn't take into account future price rise of BTC. If they are worth $500 in a years time then is your hardware still profitable? By the way $0.087 /kWh is low, it's $0.28+ where I live...
litecoin mining is still profitable.
i have no clue about litecoins, but bitcoin mining is still profitable, too. it's something like .21 or .22kWh is break even point.but the thing of it is, you aren't figuring in the value of your time and equipment loss/depreciation.
i don't consider it profitable at .06kWh, but I've been in the process of selling my stuff for a while (especially the 5xxx cards). in the meantime, i keep it running... in part because I dread cleaning out the room where I've been running most of my stuff for the last 18 months
litecoin mining is still profitable.
Thank you for powering down. More for me.
you can still wait with btc sale when the price will be higher to make a profit.
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.
LITEcoin does not appear to be worth mining.
Has anyone ever tried renting an apartment with "free utilities", moved in a bunch of miners, and used up free power for a while?
I guess it is time to sell of my GPUs.
Yes they did pay for themselves. I got about 52BTC mining with them.
Paid about 5k for the gear, and paid only 700 in power so far, (Will pay another 900 tops as bills catch up)
Then after I sell off the used gear I made some profit.
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.
LITEcoin does not appear to be worth mining.
Has anyone ever tried renting an apartment with "free utilities", moved in a bunch of miners, and used up free power for a while?
I guess it is time to sell of my GPUs.
Yes they did pay for themselves. I got about 52BTC mining with them.
Paid about 5k for the gear, and paid only 700 in power so far, (Will pay another 900 tops as bills catch up)
Then after I sell off the used gear I made some profit.
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