So...? Were you trolling us or did you really buy 60K worth of equipment without properly researching Bitcoin? You didn't even know how mining worked? Don't tell me you thought it would be a good idea to mine on all those CPU cores too?
Because spending 60K on hardware instead of Bitcoin means you expected to make back 750BTC with (12 GPUs X 4 systems X 600MH/s (assuming they are all 7970s)=) 28.8GH/s
Topic: I made a giant, overpriced mining rig - page 3. (Read 7845 times)
Sell it all as soon as possible to recover as much as possible money; you have no idea whatsoever how to build a mining rig that will not be a liability (not to mention that the days of GPU mining are nearing the end). Doesn't matter which coin you will want to mine it's not worth with what you've built.
I don't like you either
He may be testing how gullible the Bitcoiners are:
https://bitcointalksearch.org/topic/any-counter-proof-that-satoshi-nakamoto-did-not-design-a-ponzi-scheme-on-purpose-158111
He's a pathological liar
He may be testing how gullible the Bitcoiners are:
https://bitcointalksearch.org/topic/any-counter-proof-that-satoshi-nakamoto-did-not-design-a-ponzi-scheme-on-purpose-158111
somebody checked if is it true this http://dustcoin.com/mining ?
really mining ltc is more profitable than mining btc with gpus ?
really mining ltc is more profitable than mining btc with gpus ?
Rid yourself of that beast!
He's a pathological liar
He may be testing how gullible the Bitcoiners are:
https://bitcointalksearch.org/topic/any-counter-proof-that-satoshi-nakamoto-did-not-design-a-ponzi-scheme-on-purpose-158111
He's a pathological liar
And what happens when the ASICs hit the scene. You think you can redeem your investment?
This guy is either a troll or batshit insane. He has no clue what he's talking about and he's completely lying about everything. Op please setup an appt with your psychologist. Everyone needs to stop interacting with him.
I can't see how photographs would help someone build a competing rig.
Just to clarify I have 12 GPU cards. I do things for failover and redundancy because that is how I set up everything that handles potential income. It might be excessive but it is just a habit.
As far as ASIC goes, How many people do you know personally with ASIC rigs?
As far as my huge amount of memory, I will need that to run numerous instances. One thing I am just checking out is the possibility of adding nodes even if I could virtualize an ASIC chip. They have such low power useage and would take up low CPU and perhaps GPU cycles that if I can virtualize and ASIC instance , then maybe this rig would not be a waste of money.
My one test was a dismal failure at about 26600 Mh but I was testing on cracking phpBB3 hashes when I got that speed, so I will see for sure in a day or two.
Most likely this will be a bad investment though. I can face that but I am going to look for ways to "hedge" a potential loss.
No pictures yet. On the off chance this does work, I really don't want copycats with my rig chugging away at what could be my bitcoins. If it works I might be open to "leasing" as part of my hedge plan. Being that if it works, I lease instances as a hedge against BTC for dollars.
As far as ASIC goes, How many people do you know personally with ASIC rigs?
As far as my huge amount of memory, I will need that to run numerous instances. One thing I am just checking out is the possibility of adding nodes even if I could virtualize an ASIC chip. They have such low power useage and would take up low CPU and perhaps GPU cycles that if I can virtualize and ASIC instance , then maybe this rig would not be a waste of money.
My one test was a dismal failure at about 26600 Mh but I was testing on cracking phpBB3 hashes when I got that speed, so I will see for sure in a day or two.
Most likely this will be a bad investment though. I can face that but I am going to look for ways to "hedge" a potential loss.
No pictures yet. On the off chance this does work, I really don't want copycats with my rig chugging away at what could be my bitcoins. If it works I might be open to "leasing" as part of my hedge plan. Being that if it works, I lease instances as a hedge against BTC for dollars.
Failover? Redundancy? can you elaborate further on those topics? because I don't think they apply to the bitcoin world unless we are talking about a pool that needs to be up 24x7 or a market exchange, but from the miner's perspective?
Failover means that when , lets say, The State of Missouri is destroyed in an act of clumsiness typical of that state and my rig is destroyed with it, my other rig either surrenders half of its tasks and takes on the tasks of the dead Missouri rig or it takes over in full by creating more instances to make up for those lost. This is why I need huge logging space because the failover rig will have to collect data from the failed rig. The colos provide 24/7 AC and backup power so I figured I might as well take advantage of them.
Redundant means they are the same and have the ability to failover.
There is no data to collect, No reason to fail over. Your rigs are running calculations and reporting the results to the pool operator. If you want to solo mine, you may want redundancy in your main wallet but not for the whole rig. JUST RUN BOTH RIGS. No need for virtualization either. Like the guy up there said, you can run the os on thumbdrives with write errors. Hopefully those 96gpu are 6990's
also, do not immediately convert mined LTC to BTC...hold until LTC reaches $1
For much less than you paid, you could have instead won the bid for this
http://www.ebay.com/itm/Avalon-ASIC-Bitcoin-Miner-System-Rig-65-Gh-s-Guaranteed-Batch-2-PRE-ORDER-/171013152886?pt=Desktop_PCs&hash=item27d12da076
Last one on ebay sold for $20,600. As suggested, best way to try to make profit with what you have is to mine Litecoin.
http://www.ebay.com/itm/Avalon-ASIC-Bitcoin-Miner-System-Rig-65-Gh-s-Guaranteed-Batch-2-PRE-ORDER-/171013152886?pt=Desktop_PCs&hash=item27d12da076
Last one on ebay sold for $20,600. As suggested, best way to try to make profit with what you have is to mine Litecoin.
I'm going to lay this out pure and simple.
You made a huge financial miscalculation out of sheer ignorance. My opinion is that you would be wise to cut your losses and sell the thing immediately. If ASICs reach consumers at anywhere near the scale that a company like BFL intends to do within the next few months, you will likely never earn more than a maximum of $10,000-$30,000 (if you're lucky) before the difficulty gets so high that all of your useless extras start costing you more in electrical costs than what you'll earn generating BTC.
...
Wait a second...
You only have 12 GPUs? HOLY DEAR GOD SELL!!!
You made a huge financial miscalculation out of sheer ignorance. My opinion is that you would be wise to cut your losses and sell the thing immediately. If ASICs reach consumers at anywhere near the scale that a company like BFL intends to do within the next few months, you will likely never earn more than a maximum of $10,000-$30,000 (if you're lucky) before the difficulty gets so high that all of your useless extras start costing you more in electrical costs than what you'll earn generating BTC.
...
Wait a second...
You only have 12 GPUs? HOLY DEAR GOD SELL!!!
This rig is called a sunk cost. Believe it or not, selling the thing now is the financially optimal choice.
I'm going to lay this out pure and simple.
You made a huge financial miscalculation out of sheer ignorance. My opinion is that you would be wise to cut your losses and sell the thing immediately. If ASICs reach consumers at anywhere near the scale that a company like BFL intends to do within the next few months, you will likely never earn more than a maximum of $10,000-$30,000 (if you're lucky) before the difficulty gets so high that all of your useless extras start costing you more in electrical costs than what you'll earn generating BTC.
...
Wait a second...
You only have 12 GPUs? HOLY DEAR GOD SELL!!!
You made a huge financial miscalculation out of sheer ignorance. My opinion is that you would be wise to cut your losses and sell the thing immediately. If ASICs reach consumers at anywhere near the scale that a company like BFL intends to do within the next few months, you will likely never earn more than a maximum of $10,000-$30,000 (if you're lucky) before the difficulty gets so high that all of your useless extras start costing you more in electrical costs than what you'll earn generating BTC.
...
Wait a second...
You only have 12 GPUs? HOLY DEAR GOD SELL!!!
Why would anyone buy a $90K of hardware without researching first?
Well I watched $70K disappear because I didn't set stops on some short options. I was near death at the time, so my only excuse is that it wasn't me who made that decision.
Well I watched $70K disappear because I didn't set stops on some short options. I was near death at the time, so my only excuse is that it wasn't me who made that decision.
stuffthatdidnthappen.txt
My one test was a dismal failure at about 26600 Mh but I was testing on cracking phpBB3 hashes when I got that speed, so I will see for sure in a day or two.
Most likely this will be a bad investment though. I can face that but I am going to look for ways to "hedge" a potential loss.
Most likely this will be a bad investment though. I can face that but I am going to look for ways to "hedge" a potential loss.
Well, according to the Bitcoinx mining profitability calculator, that hashrate would gross $4403.21/month. Granted, you did spend a lot for your rig, but I wouldn't call that a dismal failure!
Unless I'm mistaken phpBB3 uses md5 hashes (~4x quicker to compute than sha256d) which fits with TCollar saying there's only 12 GPU total (~8GH/s with 7970 for sha256d))...
I hope it's all a big joke...
I am starting to wish it was. But I did take into account the speed difference. We will see in my test tomorrow. I might only lose half at this point if I part everything out on e-bay.
Just to clarify I have 12 GPU cards.
Epic fail
I do things for failover and redundancy because that is how I set up everything that handles potential income. It might be excessive but it is just a habit.
As far as ASIC goes, How many people do you know personally with ASIC rigs?
As far as ASIC goes, How many people do you know personally with ASIC rigs?
Doesn't matter, what matters is the Bitcoin difficulty and the speed at which it rises. If you think it rises because of new GPU miners, please share whatever you are smoking...
As far as my huge amount of memory, I will need that to run numerous instances. One thing I am just checking out is the possibility of adding nodes even if I could virtualize an ASIC chip.
Virtualize an ASIC chip? You really don't know what you are talking about.
They have such low power useage and would take up low CPU and perhaps GPU cycles that if I can virtualize and ASIC instance , then maybe this rig would not be a waste of money.
[...]
I suspect LSD now.
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