I made a giant, overpriced mining rig - page 2.

TCollar

newbie

Activity: 56

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Quote from: MagicBit15 on March 27, 2013, 05:56:40 AM

I am so for Pics or it Didn't happen on this one. I don't understand why you would spend that much. If I had 10k right now id be buying BTC and flipping having and hoarding as many coins as I possibly could. I am doing that with less as we speak!! Good Luck though, I would love to see pictures. No one is copying your Rig, TRUST ME!! Cool

I never took pics while I was building it. I have actually never taken a picture of a computer in my life except for at work when something went wrong and needed a photo back up for a meeting.

But, I am going to ask the folks down at the colo to take a pic for me, if you do not mind seeing racked computers next to other racked computers.

TCollar

newbie

Activity: 56

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Quote from: Drewbert on March 27, 2013, 02:32:37 AM

I think you should make changes to the hardware to correct the wrong assumptions you made, in order to divert capital to other projects or recover it.

Take the important bits (the GPU cards) out of all the expensive hardware and repurpose that hardware right where it is and sell it or lease it to someone that really does need what it offers.

Then put the GPU cards into cheaper hardware and put them to work, before ASIC's spoil the party. They don't need to be in geographically diverse locations. Stick them all in a location with the cheapest possible power costs, set them running and recover some funds.

I'm mining right now. The second rig will be up soon. The other hardware has actually suited my needs in spite of being overkill because I have used the CPUs and RAM to do some modeling on pools and their mining success and times when it is most likely to happen. I am at 59KH/s now and I hope to double that by today or tomorrow. But it is still a costly prospect for me but I am up and running unlike most of the ASIC folks.

MagicBit15

sr. member

Activity: 294

Merit: 250

Let's Start a Cryptolution!!

I am so for Pics or it Didn't happen on this one. I don't understand why you would spend that much. If I had 10k right now id be buying BTC and flipping having and hoarding as many coins as I possibly could. I am doing that with less as we speak!! Good Luck though, I would love to see pictures. No one is copying your Rig, TRUST ME!! Cool

Jay_Pal

legendary

Activity: 1493

Merit: 1003

* Jay_Pal Grabbed some popcorn and hit the "watch" button.

niko

hero member

Activity: 756

Merit: 501

There is more to Bitcoin than bitcoins.

You could start selling hot air.

Drewbert

newbie

Activity: 25

Merit: 0

I think you should make changes to the hardware to correct the wrong assumptions you made, in order to divert capital to other projects or recover it.

Take the important bits (the GPU cards) out of all the expensive hardware and repurpose that hardware right where it is and sell it or lease it to someone that really does need what it offers.

Then put the GPU cards into cheaper hardware and put them to work, before ASIC's spoil the party. They don't need to be in geographically diverse locations. Stick them all in a location with the cheapest possible power costs, set them running and recover some funds.

Tea, Towels, Vogons etc.

newbie

Activity: 20

Merit: 0

I think what you did was a calculated risk that was well reasoned. Mine the crap out of BTC before the ASICS arrive in force.
Screw BFL, I wouldn't worry about them. They haven't even demonstrated a working prototype.
The Avalon guys, on the other hand, could really start to make things difficult by mid summer to next fall once batch 3 is shipped....I say once your net profit starts dropping like a rock, switch over and start mining litecoin instead.
I think litecoin and bitcoin are kind of symbiotic...lots of GPU miners who get chased out of bitcoin by the ASICs are gonna have two choices: mine litecoin without worry of ASIC competition and still be able to trade it for USD or BTC, or sell their stuff. The Litecoin network is going to offer resource redundancy (it 'stores' yesteryear's computing power and equipment), kind of how the used car market still provides a useful transportation for people.
Litecoin will always play second fiddle to bitcoin, but it has demonstrated staying power and offers an alternative to Bitcoin that has enough advantages to make it a viable alternative (and some might argue, complementary) currency.

TCollar

newbie

Activity: 56

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Quote from: eudemonics on March 27, 2013, 01:11:09 AM

if you're in a position to hemmorhage cash like that, you should point the wound here: 1KvB9Nv9xvkNg1LPNkWL6WLHJJQhtopYJu

unlike your hardware, i'll actually appreciate it! Cheesy

How do you know my hardware doesn't love me?

TCollar

newbie

Activity: 56

Merit: 0

bitpop has reason to be suspicious. I just show up and say "here is what I did!" so I got no problem with that. It makes sense actually, but I gotta tell someone, somewhere.

I lost more on housing in 2008 but not that much. The trick is that when you lose you try to take that lesson and make sure you lose better each and every time (I think Samuel Beckett said something like that). So yes, it was either this or buy a midlife crisis sports car. Buying a midlife crisis sports car is an awful choice because middle aged men look ridiculous in them with wrinkly faces and bald spot flowing in the wind.

I've just decided to focus on what I know and if I fail I will just say "I was wrong" because it won't be the first time and I hope it won't be the last either because the only time we stop failing is when we are dead.

eudemonics

newbie

Activity: 5

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if you're in a position to hemmorhage cash like that, you should point the wound here: 1KvB9Nv9xvkNg1LPNkWL6WLHJJQhtopYJu

unlike your hardware, i'll actually appreciate it! Cheesy

mokahless

sr. member

Activity: 471

Merit: 256

So you have decided to keep everything? And bitpop has decided to keep trolling because he is bored?

I would like to see how this pans out but purchasing 750BTC with that money now would have been a better investment. My calculations and predictions tell me that I should expect less than 2BTC per week at 60GH/s by the end of this year.

Just to make sure, $60K is something you are willing to lose? Are you in that kind of financial position?

TCollar

newbie

Activity: 56

Merit: 0

Quote from: ReAzem on March 27, 2013, 12:16:02 AM

Quote from: TCollar on March 27, 2013, 12:12:40 AM

Quote from: ReAzem on March 26, 2013, 11:59:32 PM

I don't really understand your justification for the price.
Your mining wont nearly pay itself as fast as the ASIC stuff. 60k of ASIC would have gotten you so much more power.

I stuck with what I know and that is crazy ass hardware. I know 60k of ASIC would get me more power. Man, 60K of ASIC would get me 3TH which would then make me buy a very large boat and sail to Richard Branson's island and kick him in the testicles.

But ASICs are not being delivered. Avalons...yes, kinda. But there is something in the "too good to be true" in the typical ASIC promises that seem to be filled with slowness at best and felons at worst that made me decide that if I was going to gamble I was going to do it on something I knew I could get my hands on.

How many ASIC rigs are out there right now do you think?

The number suggest it is the Godot of hardware and we can always replace lost money but we can never replace lost time.

I think they will ship.
If BFL ships everything, non-ASIC gear will just be a waste of electricity.

If it's not Avalon or BFL that ends up shipping, someone else will do it. Technology is here and market is here, there has to be people making the gear availible.

You are right in that if it ships I will be stuck with rigs that will not be totally worthless, but I will lose money on them. I had an offer to lease them out for animation work but that won't pay for them.

You are also right about your prediction that someone will ship, but chip makers are a conservative lot and making and shipping chips that have the promise of having productivity halved in the future is something that makes them skittish. Also combined with the possibility of a bitcoin crash (always possible) that too is likely to keep the chip production down.

So I jumped in while others were waiting. I might lose a chunk of cash. I might mine a ton of bitcoins and have the bitcoin crash on me. ASIC rigs could end up fitting on wrists and generate "free money" for the wearers. I don't know. In fact, the economic modeling I do in my cluster really cannot tell me what will happen either since it has only been around since 2009 and really only been a currency for less time than that. So my economic models say 0.00, which means I built a cluster that says I should never have built a cluster, but I still think it is a better bet than ASIC.

ReAzem

newbie

Activity: 23

Merit: 0

Quote from: TCollar on March 27, 2013, 12:12:40 AM

Quote from: ReAzem on March 26, 2013, 11:59:32 PM

I don't really understand your justification for the price.
Your mining wont nearly pay itself as fast as the ASIC stuff. 60k of ASIC would have gotten you so much more power.

I stuck with what I know and that is crazy ass hardware. I know 60k of ASIC would get me more power. Man, 60K of ASIC would get me 3TH which would then make me buy a very large boat and sail to Richard Branson's island and kick him in the testicles.

But ASICs are not being delivered. Avalons...yes, kinda. But there is something in the "too good to be true" in the typical ASIC promises that seem to be filled with slowness at best and felons at worst that made me decide that if I was going to gamble I was going to do it on something I knew I could get my hands on.

How many ASIC rigs are out there right now do you think?

The number suggest it is the Godot of hardware and we can always replace lost money but we can never replace lost time.

I think they will ship.
If BFL ships everything, non-ASIC gear will just be a waste of electricity.

If it's not Avalon or BFL that ends up shipping, someone else will do it. Technology is here and market is here, there has to be people making the gear availible.

TCollar

newbie

Activity: 56

Merit: 0

Quote from: ReAzem on March 26, 2013, 11:59:32 PM

I don't really understand your justification for the price.
Your mining wont nearly pay itself as fast as the ASIC stuff. 60k of ASIC would have gotten you so much more power.

I stuck with what I know and that is crazy ass hardware. I know 60k of ASIC would get me more power. Man, 60K of ASIC would get me 3TH which would then make me buy a very large boat and sail to Richard Branson's island and kick him in the testicles.

But ASICs are not being delivered. Avalons...yes, kinda. But there is something in the "too good to be true" in the typical ASIC promises that seem to be filled with slowness at best and felons at worst that made me decide that if I was going to gamble I was going to do it on something I knew I could get my hands on.

How many ASIC rigs are out there right now do you think?

The number suggest it is the Godot of hardware and we can always replace lost money but we can never replace lost time.

ReAzem

newbie

Activity: 23

Merit: 0

I don't really understand your justification for the price.
Your mining wont nearly pay itself as fast as the ASIC stuff. 60k of ASIC would have gotten you so much more power.

bitpop

legendary

Activity: 2912

Merit: 1060

What universe are you on?

TCollar

newbie

Activity: 56

Merit: 0

Quote from: bitpop on March 26, 2013, 11:37:38 PM

You don't have any hardware. You are out of touch with reality.

As a basketball machine elf I beg to differ.

bitpop

legendary

Activity: 2912

Merit: 1060

You don't have any hardware. You are out of touch with reality.

TCollar

newbie

Activity: 56

Merit: 0

I had my doubts before it started running But it is doing OK. Not ASIC level but much better than projected (59GH per rig ) So yes, massive expense. Butterfly Labs is a much better deal and all those people who have those much, much cheaper rigs than me sure are laughing at me now. (how many people is that? two maybe?).

I know clusters. I'm 48 years old and have been doing clusters since 2000. I know financial data modeling and I know how to make this stuff sing and it has. Not at ASIC level but much better than I thought it would. Still, my loss or my profit, but I got my hardware delivered.

I am sure BFL will deliver their product right away, and be just as reputable as bASIC was, then I will be sorry.

bitpop

legendary

Activity: 2912

Merit: 1060

There are people that don't see reality like we do. He believes he bought all this stuff. He's lying. He needs to see his psychiatrist immediately. Or he could be a rich kid that is in a manic episode.

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