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Topic: Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock] - page 70. (Read 300686 times)

member
Activity: 118
Merit: 10
nowhere on the site is written how exactly is profitability calculated. I just don't believe that GPUs worth 10BTC would be 60 times (= 6000%) profitable (mining LTC) than ASICs worth 10BTC (mining BTC).

Well, I've been GPU mining and comparing results of mining BTC vs altcoins. These estimates on the site are accurate.
Try it yourself if you don't believe it. Mine with a GPU (or even a CPU) for 24h BTC, then 24h altcoins, convert to BTC and compare.

The numbers behind are here. Check the thread.

The other problem is the change in difficulty could be different.  We can't make decisions based only upon NOW, we need to make decisions based upon projections into the next 2-3 months.  6000% more than zero doesn't make sense.  Right now, GPU mining bitcoins makes you some money, but less than the power costs.  6000% more profit might cover power, but it might not, you need to do that calculation.  Then you need to include the rate of change of LTC difficulty.  To me, 100$ per card + power supply, mobo, etc, call it $500 charitably (probably would actually cost way more), making 5$ per day will take 100 days to break even, except if the difficulty increases just 5% every 14 days, it will take *way* longer because by the end of 100 days you are making only 60% as much per day.  And I just made up 5%, it's probably higher with all the people switching away from bitcoin mining...

The best evidence to consider would be a table with rows like this:

Cost of miner, daily/weekly return at the time we would receive it, estimated rate of difficulty change

Then the math is pretty straightforward to calculate the time-to-break-even and profit-per-unit-investment.
sr. member
Activity: 267
Merit: 250
nowhere on the site is written how exactly is profitability calculated. I just don't believe that GPUs worth 10BTC would be 60 times (= 6000%) profitable (mining LTC) than ASICs worth 10BTC (mining BTC).

Well, I've been GPU mining and comparing results of mining BTC vs altcoins. These estimates on the site are accurate.
Try it yourself if you don't believe it. Mine with a GPU (or even a CPU) for 24h BTC, then 24h altcoins, convert to BTC and compare.

The numbers behind are here. Check the thread.

That's comparing GPU BTC mining and GPU LTC mining. I said that more fair would be comparing ASIC BTC mining with GPU LTC mining. For 10BTC you can get 10 Asicminer cubes, ergo 380GH/s overclocked. On the other hand, 10BTC (with BTC price at $870) will get you 14 AMD R290x cards which do apparently ~900kh/s, so 12,6 MH/s. Now we can start comparing. I doubt the GPUs would by 60x profitable than Cubes

Coinwarz can do a comparison like this. Obviously power usage will be a factor too.
sr. member
Activity: 406
Merit: 250
nowhere on the site is written how exactly is profitability calculated. I just don't believe that GPUs worth 10BTC would be 60 times (= 6000%) profitable (mining LTC) than ASICs worth 10BTC (mining BTC).

Well, I've been GPU mining and comparing results of mining BTC vs altcoins. These estimates on the site are accurate.
Try it yourself if you don't believe it. Mine with a GPU (or even a CPU) for 24h BTC, then 24h altcoins, convert to BTC and compare.

The numbers behind are here. Check the thread.

That's comparing GPU BTC mining and GPU LTC mining. I said that more fair would be comparing ASIC BTC mining with GPU LTC mining. For 10BTC you can get 10 Asicminer cubes, ergo 380GH/s overclocked. On the other hand, 10BTC (with BTC price at $870) will get you 14 AMD R290x cards which do apparently ~900kh/s, so 12,6 MH/s. Now we can start comparing. I doubt the GPUs would by 60x profitable than Cubes
legendary
Activity: 2156
Merit: 1131
nowhere on the site is written how exactly is profitability calculated. I just don't believe that GPUs worth 10BTC would be 60 times (= 6000%) profitable (mining LTC) than ASICs worth 10BTC (mining BTC).

Well, I've been GPU mining and comparing results of mining BTC vs altcoins. These estimates on the site are accurate.
Try it yourself if you don't believe it. Mine with a GPU (or even a CPU) for 24h BTC, then 24h altcoins, convert to BTC and compare.

The numbers behind are here. Check the thread.
hero member
Activity: 583
Merit: 500
Bitcoin for all & all for Bitcoin
Well it was a Fixed Interest Mining Bond. I guess his unlucky streak of solomining didn't bode well for those monthly interest payments...

Glad someone bought the little I had for 2x face value.

Maybe everyone will get an update regarding FIMB and COG's financials soon.
full member
Activity: 175
Merit: 100

Can we get an official statement regarding FIMB migration status? Dividends are very late, and no word has been given when it will be migrated to a new exchange. At a minimum, dividends should continue to be paid on schedule using BTCT's panic address, as months have passed since the shutdown and there is no reason for withholding payments.




sr. member
Activity: 406
Merit: 250
Are you comparing GPU LTC vs GPU BTC? We should compare GPU LTC vs ASIC BTC

Yes but the ROI can be compared to the ROI from ASIC BTC.
If the GPU ROI is better then it is better.

nowhere on the site is written how exactly is profitability calculated. I just don't believe that GPUs worth 10BTC would be 60 times (= 6000%) profitable (mining LTC) than ASICs worth 10BTC (mining BTC).
legendary
Activity: 2156
Merit: 1131
Are you comparing GPU LTC vs GPU BTC? We should compare GPU LTC vs ASIC BTC

Yes but the ROI can be compared to the ROI from ASIC BTC.
If the GPU ROI is better then it is better.
sr. member
Activity: 406
Merit: 250
I don't have much of an alternative but I believe the GPU litecoin mining ship has essentially sailed.  Difficulty is going up very quickly and all Radeon graphic cards prices are insane including ebay, Newegg, and Amazon.
That was my impression too, but I have no numbers to back it up, I haven't done the research.  Before we jump on that, we should run the numbers.  Specifically, I want to see "we can get X MH/s at a cost of $P by

Here is my calculations using :
radeon HD 7770 / 99 usd per card / 210 Mh/S / 80 W / 6000% profitability compared to Bitcoin (average past 7 days) / 0.15 USD/kWh / 797.98 USD/BTC

I've got 5.278764 USD per day. ROI 19 days for one GPU (it does not include motherboard, riser cable, CPU, RAM, pool fees)

It's just a quick estimation but GPU mining look very profitable right now.



Are you comparing GPU LTC vs GPU BTC? We should compare GPU LTC vs ASIC BTC
legendary
Activity: 2156
Merit: 1131
I don't have much of an alternative but I believe the GPU litecoin mining ship has essentially sailed.  Difficulty is going up very quickly and all Radeon graphic cards prices are insane including ebay, Newegg, and Amazon.
That was my impression too, but I have no numbers to back it up, I haven't done the research.  Before we jump on that, we should run the numbers.  Specifically, I want to see "we can get X MH/s at a cost of $P by

Here is my calculations using :
radeon HD 7770 / 99 usd per card / 210 Mh/S / 80 W / 6000% profitability compared to Bitcoin (average past 7 days) / 0.15 USD/kWh / 797.98 USD/BTC

I've got 5.278764 USD per day. ROI 19 days for one GPU (it does not include motherboard, riser cable, CPU, RAM, pool fees)

It's just a quick estimation but GPU mining look very profitable right now.

member
Activity: 118
Merit: 10
I don't have much of an alternative but I believe the GPU litecoin mining ship has essentially sailed.  Difficulty is going up very quickly and all Radeon graphic cards prices are insane including ebay, Newegg, and Amazon.

That was my impression too, but I have no numbers to back it up, I haven't done the research.  Before we jump on that, we should run the numbers.  Specifically, I want to see "we can get X MH/s at a cost of $P by
member
Activity: 109
Merit: 10
I don't have much of an alternative but I believe the GPU litecoin mining ship has essentially sailed.  Difficulty is going up very quickly and all Radeon graphic cards prices are insane including ebay, Newegg, and Amazon.
newbie
Activity: 53
Merit: 0
We should have our current GPUs mining the most profitable alt coin and either converting it straight back to Bitcoin or keeping it in that altcoin (in case they rise a la the last rise)

GPUs mining Bitcoin is already a waste of electricity.

EDIT:

nvm we don't even own any GPUs.

If you can start snagging 7970's off ebay (I've seen some go for $300), I think that'd be pretty profitable.

or reprogramming those FPGAs
member
Activity: 118
Merit: 10
but are they "real"?


pretty sure i would have heard about it if there really was one.

Ditto. I'm very well meshed in the FPGA/ASIC community and have not heard of this yet. If they are legitimate, I will take a historic perspective and estimate an additional thee months (*ahem, Avalon*) to one year (*ahem, BFL*) on delivery.

Right now, I strongly agree with investing our reserves in Litecoin hardware in the GPU variety. Are there any disagreements with this?

I'm not against LTC investments, but I don't think of it as "diversifying" in the same way.  If BTC tanks, LTC is likely to tank too.  If LTC tanks, it may or may not be because BTC is tanking.  LTC is not actually "silver to BTC's gold", it's a faux comparison.  As long as divs are converted to BTC it doesn't really matter to me.

I would be interested in "diversifying" by buying units from other companies too though.  Maybe the hashfast or some sort of deal with asicminer for 3rd gen, or something like that is possible?  Any other manufacturer of lower-than-55-nm would be a good investment to hedge against complete failure of cointerra.

EDIT: of which LTC mining rigs is one example of hedging against failure of cointerra, so the actual calculation becomes "which makes more money, LTC mining rigs or BTC asics from other companies with which we might not have as lucrative a deal as we had with cointerra"?
legendary
Activity: 947
Merit: 1008
central banking = outdated protocol
but are they "real"?
pretty sure i would have heard about it if there really was one.
Ditto. I'm very well meshed in the FPGA/ASIC community and have not heard of this yet. If they are legitimate, I will take a historic perspective and estimate an additional thee months (*ahem, Avalon*) to one year (*ahem, BFL*) on delivery.
Right now, I strongly agree with investing our reserves in Litecoin hardware in the GPU variety. Are there any disagreements with this?

FPGA and ASIC are possible and some prototype exist. The problem is the production.

I have no idea how long it will take, if we look at the past with Avalon/BFL this could take half a year or a year.

In the mean time we should go for smart and optimised GPU mining.

+1 Asics might be coming but we should be moving on GPU now.
legendary
Activity: 2156
Merit: 1131
but are they "real"?
pretty sure i would have heard about it if there really was one.
Ditto. I'm very well meshed in the FPGA/ASIC community and have not heard of this yet. If they are legitimate, I will take a historic perspective and estimate an additional thee months (*ahem, Avalon*) to one year (*ahem, BFL*) on delivery.
Right now, I strongly agree with investing our reserves in Litecoin hardware in the GPU variety. Are there any disagreements with this?

FPGA and ASIC are possible and some prototype exist. The problem is the production.

I have no idea how long it will take, if we look at the past with Avalon/BFL this could take 6 months or a year.

In the meantime we should go for smart and optimized GPU mining.

EDIT :
For your information :
List of LTC FPGA/ASIC-miner-developers
legendary
Activity: 938
Merit: 1000
What's a GPU?
but are they "real"?


pretty sure i would have heard about it if there really was one.

Ditto. I'm very well meshed in the FPGA/ASIC community and have not heard of this yet. If they are legitimate, I will take a historic perspective and estimate an additional thee months (*ahem, Avalon*) to one year (*ahem, BFL*) on delivery.

Right now, I strongly agree with investing our reserves in Litecoin hardware in the GPU variety. Are there any disagreements with this?
legendary
Activity: 2156
Merit: 1131
Whether they exist or not, lols will be had, as it was supposed to be resistant to ASICs.
Oh wait, that's actually totally wrong, it was supposed to be resistant to GPUs.

Resistant to ASICs doesn't mean immune to it. It was a matter of time and investment. So nothing to laugh at.
sr. member
Activity: 245
Merit: 250
Timeframe looks a little long, 4-5 months after pre-order.
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