One thing to consider... the PS3 probably pulls around 80W at least so at only 20 mhash/s I dunno if you'd break even on power costs.
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Bitcoins
- Thread starter Andy
- Start date
One thing to consider... the PS3 probably pulls around 80W at least so at only 20 mhash/s I dunno if you'd break even on power costs.
El Diablo
Member
Is being in a pool really worth it if you have a decent GPU? It seems like if you're able to get decent speeds on your own, it would be more profitable to solo mine because when you find a block, you get 50 bitcoins whereas when you're in a pool you're splitting it with a lot of people. I feel like I would be lucky to make 1 bitcoin a day right now but on my own if I got lucky every couple weeks could be 50 coins.
Andy
Champion of the Sun
It would take you months to get a block solo, probably longer as the difficulty rises. Pools allow you a steady payout as blocks are found much faster.
MenaceInc
Staff Member
Apparently mtgox got hacked and everyone's email addresses, usernames and hashed passwords were leaked. This has been in the last week or so. Added to that is the bitcoin market crash that happened earlier today due to someone's account being hacked and nearly all their bitcoins being sold.
https://support.mtgox.com/entries/2...ell-off-due-to-a-compromised-account-rollback
This kinda stuff makes me very wary of the whole thing.
https://support.mtgox.com/entries/2...ell-off-due-to-a-compromised-account-rollback
This kinda stuff makes me very wary of the whole thing.
El Diablo
Member
From what I understand bitcoin has been going on for a long time, I think years. How many major companies and or corporations have been hacked in the past month. I don't see what there really is to be wary about as you literally do nothing but let it run like folding@home, get some fake virtual currency and can cash out. Sure it won't last forever, and from what I understand we're getting into it pretty late in the game but it's free money aside from what it takes to power it.
Personally I plan on running it for a week or 2, selling whatever I have and seeing how much I made and if it's worth continuing. People have been extremely dedicated to this and spent thousands on parts and multimachine rigs they run dedicated to mining, people 3 6990s or other high end cards getting double digit GH/s from it who have made their money back, and profit ontop of it. Sadly though from what it seems is that the amount of people doing that and more people trying to do it, it has increased the difficulty a lot to the point where it's going up faster than it was supposed to, that soon it will only be 25 coins a block and you will start to make little money. That+the difficulty going up quick has a lot of people saying that soon the cost to run it for long enough to find a block won't be worth the electricity to do so unless the price of coins goes up which who knows if it will. So I figure if anything, get in on it now for a little bit while there may still be a little something to get from it. All you have to lose is a hot room and not being able to play games on your pc while you run it. Worst case is the price drops a lot and you sell all your stuff for less than you had hoped to.
Personally I plan on running it for a week or 2, selling whatever I have and seeing how much I made and if it's worth continuing. People have been extremely dedicated to this and spent thousands on parts and multimachine rigs they run dedicated to mining, people 3 6990s or other high end cards getting double digit GH/s from it who have made their money back, and profit ontop of it. Sadly though from what it seems is that the amount of people doing that and more people trying to do it, it has increased the difficulty a lot to the point where it's going up faster than it was supposed to, that soon it will only be 25 coins a block and you will start to make little money. That+the difficulty going up quick has a lot of people saying that soon the cost to run it for long enough to find a block won't be worth the electricity to do so unless the price of coins goes up which who knows if it will. So I figure if anything, get in on it now for a little bit while there may still be a little something to get from it. All you have to lose is a hot room and not being able to play games on your pc while you run it. Worst case is the price drops a lot and you sell all your stuff for less than you had hoped to.
Robby
Los Doyers!
That's the same pool and miner I use.
Adiuvo
Active Member
Since I have my PC in my room I'm not going to bother with this. The heat my PC makes is already annoying and running my GPUs 24/7 certainly won't help things.
If I had my PC in another room I might, but right now it's not worth it. Having 6990 rigs running this would be awesome though.
If I had my PC in another room I might, but right now it's not worth it. Having 6990 rigs running this would be awesome though.
KezraPlanes
Just some dood
How much would a HD6780 get?
El Diablo
Member
The way the difficulty rose and seems like it will continue to at a pretty good rate, you really cannot make much from it anymore. I'll let my miner run in a pool for 12+ hours and come out with .15-.2 if I'm lucky now with 310mh/s where as when I started trying it when it was first posted here, I was making double that in the periods I would run it. The time it takes to get 1 coin (probably about a week of almost constantly running it now) isn't worth the ~15 bucks you might be able to get from it. You probably will only be making a very small amount of money per coin once factoring in electricity costs.
The only reason I'm still running mine a little bit is to save up a little more and try and buy something on silkroad, but I'm not sure if I trust it so I may just try and get money for it.
The only reason I'm still running mine a little bit is to save up a little more and try and buy something on silkroad, but I'm not sure if I trust it so I may just try and get money for it.
Last difficulty increase was only around 14%, next one might actually go down according to the latest estimate. I'm making around $200/mth with 6970/5830 combo, few more weeks and I'll have made enough to pay for the next series of AMD cards, whenever they come out.
KezraPlanes
Just some dood
How do I use the calculator?
What do I put in exchange rate? I got the rest covered xD
How do I use the calculator?
Just lookup the current bitcoin to USD exchange rate on mtgox.com. Last I checked it's around $15
KezraPlanes
Just some dood
Thanks x3! So now I know that a 6780@900MHz would get me around $71.89 a month. Hm...
Sousanator
Shockingly Delicious
I've been trying to get a 5850/70 off craigslist since I saw this thread, but I'm either too slow or the deal falls through.
Anyone know any good retailers online(that can ship to Canada) that sell discontinued video cards at a fair price?
Anyone know any good retailers online(that can ship to Canada) that sell discontinued video cards at a fair price?
El Diablo
Member
According to the calculator I'm at about 20 bucks a week if I run it 24/7, when this thread was first started and I was trying it I was at about 60 bucks a week. The reason the difficulty increases aren't as high is because after the 50% one so many people stopped/cut back and so many less blocks were being found that the difficulty had to slow down. I just don't think with what the difficulty is at right now it's worth it to try and make a profit from it, let alone investing in a video card to buy to try and make money off it, unless you already have some multi gpu rig already set up that you can dedicate to mining. Even then it will soon get to a point where the cost of running your computer will exceed the amount of BTC you will get a day.
Keep in mind Sous and Kezra that you may buy a card now looking at calculators saying "oh well, the calculator tells me that with that card I should make $100/month and if the card costs me $120 then it a little over a month I will have my money back" but sometime during that month there will be a 14% difficulty increase dropping you to about $85 a month, and then 73 a couple weeks later etc etc. It just really is not worth it to try and get into it at this point with how high the difficulty is no compared to when this thread was started, let alone a few months ago. If you don't have some retarded multi giga hash triple crossfire multi computer rig set up, you won't really be making much from it.
Then again you could always buy a card, run it for a week straight solo mining and find a block and make 750 bucks in a week but who knows.
Keep in mind Sous and Kezra that you may buy a card now looking at calculators saying "oh well, the calculator tells me that with that card I should make $100/month and if the card costs me $120 then it a little over a month I will have my money back" but sometime during that month there will be a 14% difficulty increase dropping you to about $85 a month, and then 73 a couple weeks later etc etc. It just really is not worth it to try and get into it at this point with how high the difficulty is no compared to when this thread was started, let alone a few months ago. If you don't have some retarded multi giga hash triple crossfire multi computer rig set up, you won't really be making much from it.
Then again you could always buy a card, run it for a week straight solo mining and find a block and make 750 bucks in a week but who knows.
Agreed, I would not buy a card for the sole purpose of mining. Even if you factor difficulty changes into account, it's still risky as the Bitcoin has had some swings as of late, who knows if it'll stay at $15. Couple days ago it went down to $11. There's always the chance it could spike again (at one point it was $30) but I don't see that happening.
Personally, it's worth it for me to continue as long as I'm over $100/mth. With both GPUs maxed out 24/7 it costs me around $30 extra in power costs.
Personally, it's worth it for me to continue as long as I'm over $100/mth. With both GPUs maxed out 24/7 it costs me around $30 extra in power costs.
Sousanator
Shockingly Delicious
I've been looking for a graphics card for my newly built i7 rig for a while, but could never decide on one. I'm not getting one solely for Bitcoining, but it did play a huge factor in deciding what card I want. I don't mind if I don't make a profit, but anything to offset to cost of the card is a bonus. That's why I'm looking for a 5800 series card (and not an easily found 6700, or 6800 series card) since they're affordable and have the best chance to make a profit, however little that may be in the coming months.
My computer is on all the time and my electricity bill is static (I pay the same amount every month no matter how much power I use), so I have a good chance to at least pay off the card in a few months (even if the rate goes down to $10)
My computer is on all the time and my electricity bill is static (I pay the same amount every month no matter how much power I use), so I have a good chance to at least pay off the card in a few months (even if the rate goes down to $10)
Oh jeez, I didn't keep any of my BTC from way back then. Even LTC has went up like crazy. I did re-enter the market in 2014 though, when it was trading around $200, so I've done pretty good. Haven't sold since then.
I also got into ETH, which I find has quite a bit more use cases than BTC. For now I've been holding both.
I also got into ETH, which I find has quite a bit more use cases than BTC. For now I've been holding both.
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