Topic: Miners quitting en masse -- so it begins. - page 4. (Read 11446 times)
Is spreading FUD all you're good for?
i have to admit the sudden raise in diff shocked me a little.. i thought i could at least mine for a few onths with my 6950 with decent results.. now its only peanuts :/ oh well gotta be patient i guess
Selling up while a 6970 is still a good card and not superseded by 7xxx isn't a bad idea.
Apparently the 7xxx series will have about the same mining power as the current cards, as AMD is more than happy with the shaders they have now. The improvements they make to the architecture will solely benefit other aspects of graphics rendering, and possibly power consumption (though not by a significant amount).
By the time you see the 7xxx series on shelves, you'll be breaking even with the electricity bill, if that.
You can't possibly estimate nor predict the hashing power of products based on this new architecture without knowing the numbers of CU's and only AMD knowns that. Also, products based on this new architecture will be available for purchase in Q4 of this year.
It appears YOU are the one who is lacking knowledge here, troll. AMD and nVidia are competing in the 3D Graphics sector, not Bitcoin mining, go read about it.
And even if they DOUBLED the shader/hashing power, the mining difficulty in 3 months will render them useless.
good for other miners. at least difficulty won't be rising as fast as it did in the past 
The OP, suggesting ppl to sell their rigs now before it's too late, is buying PCI expansion cables for himself . Funny, ins't it? 
http://forum.bitcoin.org/index.php?topic=24618.0
http://forum.bitcoin.org/index.php?topic=24618.0
Quitting bitcoin mining is a wonderful idea. They are much safer now. Unfortunately the quitters are just passing the danger on to others who may be more apathetic or ignorant about safety.
The only harmless mining rig is the one donated to a local library.
The only harmless mining rig is the one donated to a local library.
Selling up while a 6970 is still a good card and not superseded by 7xxx isn't a bad idea.
Apparently the 7xxx series will have about the same mining power as the current cards, as AMD is more than happy with the shaders they have now. The improvements they make to the architecture will solely benefit other aspects of graphics rendering, and possibly power consumption (though not by a significant amount).
By the time you see the 7xxx series on shelves, you'll be breaking even with the electricity bill, if that.
You can't possibly estimate nor predict the hashing power of products based on this new architecture without knowing the numbers of CU's and only AMD knowns that. Also, products based on this new architecture will be available for purchase in Q4 of this year.
I'm glad more people are selling their cards, more cards for me.
As for the cards losing their value, all my cards are under a life time warranty, meaning if they go bust, I get a new card, free of charge (other than shipping). Another amazing thing, is if the company is out of stock, they send me a free upgraded card.. In case I'm missing something here, my cards don't lose value (ok, they do, if the company fails..even then, I can still write it off as a tax deduction..depreciation of computer hardware..lawlz)
Just my 2 cents.
As for the cards losing their value, all my cards are under a life time warranty, meaning if they go bust, I get a new card, free of charge (other than shipping). Another amazing thing, is if the company is out of stock, they send me a free upgraded card.. In case I'm missing something here, my cards don't lose value (ok, they do, if the company fails..even then, I can still write it off as a tax deduction..depreciation of computer hardware..lawlz)
Just my 2 cents.
I've had 2 cards die in the past, from different manufacturers with lifetime warranties, an they were both replaced with current day equivalents of the same cards, not "upgraded" to the same tier of card, as you would suggest.
the last one, my prized and beloved top of the line 8800 ULTRA was replaced with a GTX 260. the 260 preforms about 20% better and sells for about the same price on ebay, so its pretty much the same card, but its by no means the High end card of it's line that the 8800 was
Unless I'm missing something as to the terms of your warranty.
I'm glad more people are selling their cards, more cards for me.
As for the cards losing their value, all my cards are under a life time warranty, meaning if they go bust, I get a new card, free of charge (other than shipping). Another amazing thing, is if the company is out of stock, they send me a free upgraded card.. In case I'm missing something here, my cards don't lose value (ok, they do, if the company fails..even then, I can still write it off as a tax deduction..depreciation of computer hardware..lawlz)
Just my 2 cents.
As for the cards losing their value, all my cards are under a life time warranty, meaning if they go bust, I get a new card, free of charge (other than shipping). Another amazing thing, is if the company is out of stock, they send me a free upgraded card.. In case I'm missing something here, my cards don't lose value (ok, they do, if the company fails..even then, I can still write it off as a tax deduction..depreciation of computer hardware..lawlz)
Just my 2 cents.
Selling up while a 6970 is still a good card and not superseded by 7xxx isn't a bad idea.
Apparently the 7xxx series will have about the same mining power as the current cards, as AMD is more than happy with the shaders they have now. The improvements they make to the architecture will solely benefit other aspects of graphics rendering, and possibly power consumption (though not by a significant amount).
By the time you see the 7xxx series on shelves, you'll be breaking even with the electricity bill, if that.
You should meditate on the wisdom: "Fools rush in where angels fear to tread."
I can bet you these "angels" are always the last ones to the party.
By the time bitcoin proves itself as the worlds First and Primary form of crypto currency (or falls flat and bombs) there will no longer be any profit in mining it.
For those who got in (bought mining hardware) before Q2 2011, they've mined 90% of the bitcoins their current hardware will ever be capable of mining.
Anyone who got in during Q2 2011 will have paid off their hardware (either by now, or soon), essentially earning themselves some free hardware.
But any hardware bought from Q3 2011 onwards will depend on the increase of the bitcoins value in order to break even, let alone make a profit.
If I had $1000 today, I'd buy the bitcoins outright, and consider the money gone. Then check back at the end of the year to see how things have panned out.
did we actually have a "God hates Miners" thread?
The hash rate is still going up because some people are happy to earn $5 a day (after costs and tax) on $300 of equipment. That works just fine as long as difficulty doesn't keep increasing at the pace it has so far. The next increase is likely to be less, about 25%. Still, that's 25% less money than they're making today. Miners may also be betting on a higher exchange rate in the future, although prices have stagnated for weeks despite a more than 100% difficulty increase. Some people get power at 10c/kWh, but many pay a lot more than that.
To all the people with the 'har har! Stop mining and just make it easier for me! Don't let the door hit your ass on the way out!' type attitude, be aware that GPU mining in general may be unprofitable regardless of power costs in a couple of months. There are much more efficient ways of grinding bitcoins coming online. The miners getting out now make it easier for you, but they're also going to get better prices for their hardware. Selling up while a 6970 is still a good card and not superseded by 7xxx isn't a bad idea.
To all the people with the 'har har! Stop mining and just make it easier for me! Don't let the door hit your ass on the way out!' type attitude, be aware that GPU mining in general may be unprofitable regardless of power costs in a couple of months. There are much more efficient ways of grinding bitcoins coming online. The miners getting out now make it easier for you, but they're also going to get better prices for their hardware. Selling up while a 6970 is still a good card and not superseded by 7xxx isn't a bad idea.
FYI, I offered the guy $175 for his 5870 -- that was it.
At this point, I can only afford to buy used cards when it's a good deal, since I don't want my payback period to be anything longer than 50 days. 50+ days is too great of an unknown.
You should meditate on the wisdom: "Fools rush in where angels fear to tread."
At this point, I can only afford to buy used cards when it's a good deal, since I don't want my payback period to be anything longer than 50 days. 50+ days is too great of an unknown.
You should meditate on the wisdom: "Fools rush in where angels fear to tread."
That one dude who selling all his 5870s and whatnot for too much bling on this forum got an offer from Angelius for his rig. Tells you something about which side of the mouth one talks out of. Yes people bailing on mining helps me out too, but I prefer to just be an honest injun about stuff. There is still money to be made mining. It's not a great time to buy in but it's not necessarily a death trap either. You need to be smart about how you invest and don't expect money to fall into your lap and give you a happy ending while it's at it.
Easy peasy, didn't need 20 new threads to say that.
I think another factor though which encourages me personally to continue mining is that I would like to believe that bitcoin has a real chance to succeed as an internet currency. To that end, I would like to remain a part of that.
Wrong, you haven't been around to see the OPs 5000000 other topics about OMG THE SKY IS FALLING YOU'RE GOING TO GET AIDS IF YOU MINE, etc.
Easy peasy, didn't need 20 new threads to say that.
blah blah blah, stop mining so the difficulty will go down for me, don't let the door hit you on the way out
Between the "your dumb because you're paying too much for your 5830s" and this, we know, you really want to scare people to quit
Actually, I don't believe the parent is trying to scare anyone away from mining. He is simply pointing out, and rightly so that depreciation costs represent a substantial cost over that of electricity for mining. Depreciation is hard to get right with mining though as even though we are seeing some of the lower end video gear being sold, (still not many 5970/6990), there is still a scarcity of good mining hardware.Between the "your dumb because you're paying too much for your 5830s" and this, we know, you really want to scare people to quit
I think another factor though which encourages me personally to continue mining is that I would like to believe that bitcoin has a real chance to succeed as an internet currency. To that end, I would like to remain a part of that.
Wrong, you haven't been around to see the OPs 5000000 other topics about OMG THE SKY IS FALLING YOU'RE GOING TO GET AIDS IF YOU MINE, etc.
blah blah blah, stop mining so the difficulty will go down for me, don't let the door hit you on the way out
Between the "your dumb because you're paying too much for your 5830s" and this, we know, you really want to scare people to quit
Actually, I don't believe the parent is trying to scare anyone away from mining. He is simply pointing out, and rightly so that depreciation costs represent a substantial cost over that of electricity for mining. Depreciation is hard to get right with mining though as even though we are seeing some of the lower end video gear being sold, (still not many 5970/6990), there is still a scarcity of good mining hardware.Between the "your dumb because you're paying too much for your 5830s" and this, we know, you really want to scare people to quit
I think another factor though which encourages me personally to continue mining is that I would like to believe that bitcoin has a real chance to succeed as an internet currency. To that end, I would like to remain a part of that.
All I hear is "I'm quitting" and "Mining NO LONGER PROFITABLE" yet the network hash rate keeps going up!
This is probably BC all the miners who quit give their hardware to another miner, who keeps mining, thus the hardware just circulates, yet never leaves the network.
I would also like to think that all the 6950s I bought may not be the best for mining in a Mhs/$ sense, but they're sure as hell the best for gaming at their price (the 1GB ones), at least according to the Toms Hardware charts.
So once they're useless to the average miner, they'll still be worth a fair price for gamers, especially considering they're on more current architecture than the 5xxx radeons.
This is probably BC all the miners who quit give their hardware to another miner, who keeps mining, thus the hardware just circulates, yet never leaves the network.
I would also like to think that all the 6950s I bought may not be the best for mining in a Mhs/$ sense, but they're sure as hell the best for gaming at their price (the 1GB ones), at least according to the Toms Hardware charts.
So once they're useless to the average miner, they'll still be worth a fair price for gamers, especially considering they're on more current architecture than the 5xxx radeons.
Lol
blah blah blah, stop mining so the difficulty will go down for me, don't let the door hit you on the way out
Between the "your dumb because you're paying too much for your 5830s" and this, we know, you really want to scare people to quit
Angelus wants to scare you into selling your rigs for 1 selfish reason:
He wants to pick up your equipment for less than market price.
Here's some evidence:
This was just 3 days ago, low ball offer on 18 GPUs
http://forum.bitcoin.org/index.php?topic=23529.msg295691#msg295691
Then he tries to justify his lowball offers with this:
http://forum.bitcoin.org/index.php?topic=24343.0
Probably another lowball offer for:
http://forum.bitcoin.org/index.php?topic=23464.msg300342#msg300342
Not the first time he refers to miners as dumb kids:
http://forum.bitcoin.org/index.php?topic=23698.msg298597#msg298597
Thanks for looking out for our best interests Angelus, I mean Dad.
It's like telling us we'll go to hell for masturbating, when you have a stash of Playboys in your closet.
You're just a hypocrite
Between the "your dumb because you're paying too much for your 5830s" and this, we know, you really want to scare people to quit
Angelus wants to scare you into selling your rigs for 1 selfish reason:
He wants to pick up your equipment for less than market price.
Here's some evidence:
This was just 3 days ago, low ball offer on 18 GPUs
http://forum.bitcoin.org/index.php?topic=23529.msg295691#msg295691
Then he tries to justify his lowball offers with this:
http://forum.bitcoin.org/index.php?topic=24343.0
Probably another lowball offer for:
http://forum.bitcoin.org/index.php?topic=23464.msg300342#msg300342
Not the first time he refers to miners as dumb kids:
http://forum.bitcoin.org/index.php?topic=23698.msg298597#msg298597
Thanks for looking out for our best interests Angelus, I mean Dad.
It's like telling us we'll go to hell for masturbating, when you have a stash of Playboys in your closet.
You're just a hypocrite
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