You can still mine altcoins with GPU.
they are unprofitable already, unless you mine coin with 600%+++ profit 
Topic: Losing money is fun!!! (Read 1265 times)
Thanks for posting this!
While losing money is no fun...
Other members can learn from what you did!
While losing money is no fun...
Other members can learn from what you did!
Shoot 30 cents a kWh no wonder props.
You can still mine altcoins with GPU.
I don't pay for power. A 7950 pays itself back pretty fast.
Total was about $650 and I was running 4 cards for around 2 weeks, all 5 for maybe 2 weeks. That's probably around $400 more than normal. I pay around .30 kwh. Thanks for the offer r3wt, but I'm just going to sell the jcoins for btc at some point. I did pretty good, I have a little over 100.
That's a lot of money! I would have just rent a space in a nearby datacenter and use the electricity (make sure it comes with the rack and is unmetered), will be 1/2 price or even lower.
Total was about $650 and I was running 4 cards for around 2 weeks, all 5 for maybe 2 weeks. That's probably around $400 more than normal. I pay around .30 kwh. Thanks for the offer r3wt, but I'm just going to sell the jcoins for btc at some point. I did pretty good, I have a little over 100.
wow, lol you've got more than me. props
Total was about $650 and I was running 4 cards for around 2 weeks, all 5 for maybe 2 weeks. That's probably around $400 more than normal. I pay around .30 kwh. Thanks for the offer r3wt, but I'm just going to sell the jcoins for btc at some point. I did pretty good, I have a little over 100.
After lurking for a while, 2 months ago I decided to build a mining rig. I knew mining bitcoin with gpus was out, so I went with litecoin. I built a 5x 7950 rig. A few years back I ran a 1000 watt hps 12 hours a day and didn't notice much difference in my electric bill. I knew with this rig it would go up, and I finally got my first full bill! Needless to say I have since sold everything and at a pretty good size loss. So if you're thinking of gpu mining any coin and you pay any rate for power DO NOT DO IT!! Losing money that fast was a nice expensive lesson to research everything thoroughly before spending a dime!
Mind giving us a hint on the size of your electricity bills?
Yeah guys.. The mining of coins is already and soon gets even lower profit hobby for non-pros. Easiest way to get coins is to trade.
Ironic that you posted in here r3wt. After I saw my bill I mined J-Coin for about a day before I shut the rig down. Haha
lol, really? any luck? post your j-coin address. i'll send you some freebies
Ironic that you posted in here r3wt. After I saw my bill I mined J-Coin for about a day before I shut the rig down. Haha
well i bought two block eruptors. in one week of near continuous operation(i stop them and let them cool usually once a day) i've managed to pull in .1 btc. will i ever meet roi of ~180 invested? probably not. is it worth it to me? hell yeah man, i love these little things. they're just so... cool.
Finding a place where you can run your gpu rig with free electricity (at work, dorm) is about the only option that makes roi sense these days.
Crypto mining has humbled me greatly and I have no problem admitting it. It was fun playing the game while I did. I am not really upset about it because I followed the rule of not investing money I was scared to lose. And yes, as bas as it sucks, I don't see much difference between my lose and the huge amounts of people who preordered bfls forever ago. Not that it helps me in any way. I also have no problem with it being funnier watching me lose money. When I saw my power bill I about cried in laughter. The whole ordeal was very comical to me. Thinking about how much I could make and stuff. Then BAM!!! Reality owned me.
Respect for talking about it without bullshit. All the people here bragging about their baddass mining rigs, with ASICs bought for a small fortune, I wonder which percentage of them even break even. 10%??? Even the ones that hang around in the forums posting pictures and whatnot.
Look at it this way: you did, it was stupid, but you learn your lesson by your mistakes. as pointed by other, you still got a whole lot more than those that prefer to think that they may eventually make a ton of easy money, and end up loosing money all the time.
Look at it this way: you did, it was stupid, but you learn your lesson by your mistakes. as pointed by other, you still got a whole lot more than those that prefer to think that they may eventually make a ton of easy money, and end up loosing money all the time.
Watching people lose money is even funnier.
I would have saved one 7950 to play games with. That's a nice GPU.
After lurking for a while, 2 months ago I decided to build a mining rig. I knew mining bitcoin with gpus was out, so I went with litecoin. I built a 5x 7950 rig. A few years back I ran a 1000 watt hps 12 hours a day and didn't notice much difference in my electric bill. I knew with this rig it would go up, and I finally got my first full bill! Needless to say I have since sold everything and at a pretty good size loss. So if you're thinking of gpu mining any coin and you pay any rate for power DO NOT DO IT!! Losing money that fast was a nice expensive lesson to research everything thoroughly before spending a dime!
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