Topic: Introduce yourself :) - page 414. (Read 1066160 times)

Long time reader, though wasn't registered. Decided to do so finally. Want to see a little more closely, if Bitcoin has what it takes to become not only superior, but more popular currency comparing to anything else that exists now.

Hello fellow Bitcoiners

my name is Anton and i read this forum since early 2011 almost every day. Mined some coins with 4 Cards last year with great nerdy passion. Looking forward to the great ASIC (r)evolution, because electricity is quite expensive here in Germany...

Hey everyone, been mining for a while but usually don't post of forums unless i have something to say. Just looking to be a little more proactive, ask questions and help where i can.

... so here is my story, as I put into an email for a friend:

So you have to realize, when I entered the BTC game I was basically looking for free videocards last Aug/Sept timeframe.  Then coins were a little bit above $5 (falling from $7).  I was figuring if I bought $30 mobos, $80 power supplies, and GPU's for $100 each I could pay off a rig in 3-4 months.  Everytime it paid itself off I have just bought more video cards (why not?)... oh and I did mine $600 USD worth for my vegas trip, that was nice!

So I started with 3 cards.

Now at 14 video cards (will be 18 once I get the latest rig running, still have two cars in the mail!) and with the rise to $9/coin I'm up to $20-30 a day.  As for GPU investment, payback can be $1.50/day per card if you buy cheap $100 cards it refunds their own purchase in a little over 2 months (assuming you already have a PCIE slot and PS wattage to spare).  Or when you are at my level, when buying two cards I can pay that off with my total rig power after as little as 7 days.

So, that's how I see GPUs.

ASICs will be a revolution.  The question is how fast.  When BFL announced their FPGA's they claimed "custom" hardware and twice the output and four times less power than what was actually released.  Problem was it is off the shelf FPGA hardware with custom interface - performed 50% the originally advertised output(mhash) and took 4x more electrical power. Oh and they were 3 months late ... on the first batch!  So BFL claims October.  How fast once they start producing are they getting units out... wait nevermind there is a waiting list... and last time unless you get in on batch #1 you are waiting ... 2-3 months maybe?  So my wild guess is if you order today you will get your ASIC in 5-6months.

Problem is even if the hashrate goes up the network automatically increases difficulty so the "rate" of coins released (~7K coins per day, soon to be ~3.5K in DEC) will adjust to be consistent, and how much profit you make will be dependent on how early of an adopter you are (first guys in will make huuuge bank for a couple weeks/months - if coins hold their value, dumping the market will make prices go down).  If you have 10000 people with ASICs as big as yours or bigger then that payback starts to become a lot longer.  If you were get the first 120Ghash rig  today you would be sitting around 1/150th of the whole network I think?  (if my math is right!)

So if history tells me anything, the real unknown is the reward getting cut 50% in December!  ASICs are a wildcard for sure, and eventually will be the future of bitcoin, but I'm not betting on BFL quite yet.

Right now I am in the process of upgrading cards, so if I do have to sell later I am selling Radeon 6950s - 7970s which will hold their value as they are still rather useful to gamers.  The old 5XXX cards will probably drop like a rock in price (only $90-150 now but get same/better mhash as a 6-series card).  Problem is 7970s are $350-400 and take twice as long to payoff - but will host value the best.

Eh just my $0.02BTC  

Newbie here, hoping to get into this bitcoin game! hopefully i'm not joining too late, this looks like this could be lots of fun.

Newbie checking in, looking forward to bitcoin mining and spending

Good luck to you!

Hey guys, Liam here. I'm mainly looking to buy Casascius Bitcoins (no luck from either https://www.casascius.com or http://memorydealers.com), but i'm also looking into bitcoin mining and possibly opening up as a bitcoin retailer. 

From the midwest.  Should have shifted some savings to bitcoin months ago, but hoping this is a good time to get into it.  Looks like the transaction volumes are picking up a good bit, especially looking at the excluding top 100...

Austrian -- Central Europe. Speaking German

Hi all,

Just registering under a new handle here for business purposes. 

Hi tabarnak!

I'm a Quebecois Canadian of Noth America.  A french Canadian Quebecois of french ascendence who speak french.

And welcome feel free to invest with me LOL


Yea if your doing business then it helps to keep a open eye for things.

Greetings.  I've been lurking the forums for a while, made my first investment in bitcoins around six months ago, and am now participating in the current bull run by shifting some savings into bit coins.  Thanks to everyone so far for all the information that exists on the web about bitcoin.

hi BitcoinINV, i like the fact that these forums are really very active.

Welcome MINERS!

Hi community,

I am new to forum, but have been wrenching on computer hardware for 30+ years.

This week, I am setting up a 4x5830 GPU rig.  My $/Kwhr costs are extraordinarily low here, so the GPU's should be viable for a bit.

We shall see   

hi, bitcoin miner since couple of weeks.

Welcome! have you seen that show about sasquatch hunting? Is it getting might squatchy in here lol

Hi guys. My name is Peter. I've really curious about the sustainability of bitcoin and cryptocurrency in general. Hope to be around for a while.