Anyone still mining Bitcoins?

J

Jimmy-Z

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Sep 25, 2011
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I'd love to own one of those ASIC miners, but they're not available yet..... And the release dates are somewhat vague.

This is the list of ASIC miners as from OCt last year:

Butterfly Labs
BitForce Jalapeno 4.5 GH/s - $149 (30.2MH/s/$)
BitForce Single 'SC' 60 GH/s - $1,299 (46.19 MH/s/$)
BitForce Mini Rig 'SC' 1,500 GH/s - $29,899 (50.17MH/s/$)
Anticipated release sometimes before Christmas
Comes with their own driver and custom mining software.

btcfpga
27GH/s bASIC NextGen Bitcoin Miner $599.99 (45 MH/s/$)
54GH/s bASIC NextGen Bitcoin Miner $1,069.99 (50.47MH/s/$)
Anticipated release in November or December

Avalon
60GH/s Avalon ASIC Miner $1,299 (46.19 MH/s/$)
Anticipated release in Q1 of 2013
Do note that according to them, the price will go up to $1999 after 300 total orders

Deepbit
4GH/s DeepBit Reclaimer One $320 (12.5MH/s/$)
8GH/s DeepBit Reclaimer 4A $520 (15.28MH/s/$)
80GH/s DeepBit Reclaimer RM $2800 (28.57 MH/s/$)
Do keep in mind that speed specs are not based on working prototype tests yet, but are guaranteed to be not worse than that.
You can only make a pre-order of it by buying a special "DB.RCLMR" security in the Exchange section of https://icbit.se trading platform
Anticipated release in Q2 of 2013
 
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Rickster

Rickster

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I was mining for like 10min but the pc was lagging like a mofo, even the mouse at the desktop...

Also my AV was saying its a virus and i got scared and uninstalled.
 
grok

grok

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Jimmy-Z said:
I'd love to own one of those ASIC miners, but they're not available yet..... And the release dates are somewhat vague.

This is the list of ASIC miners as from OCt last year:

Butterfly Labs
BitForce Jalapeno 4.5 GH/s - $149 (30.2MH/s/$)
BitForce Single 'SC' 60 GH/s - $1,299 (46.19 MH/s/$)
BitForce Mini Rig 'SC' 1,500 GH/s - $29,899 (50.17MH/s/$)
Anticipated release sometimes before Christmas
Comes with their own driver and custom mining software.

btcfpga
27GH/s bASIC NextGen Bitcoin Miner $599.99 (45 MH/s/$)
54GH/s bASIC NextGen Bitcoin Miner $1,069.99 (50.47MH/s/$)
Anticipated release in November or December

Avalon
60GH/s Avalon ASIC Miner $1,299 (46.19 MH/s/$)
Anticipated release in Q1 of 2013
Do note that according to them, the price will go up to $1999 after 300 total orders

Deepbit
4GH/s DeepBit Reclaimer One $320 (12.5MH/s/$)
8GH/s DeepBit Reclaimer 4A $520 (15.28MH/s/$)
80GH/s DeepBit Reclaimer RM $2800 (28.57 MH/s/$)
Do keep in mind that speed specs are not based on working prototype tests yet, but are guaranteed to be not worse than that.
You can only make a pre-order of it by buying a special "DB.RCLMR" security in the Exchange section of https://icbit.se trading platform
Anticipated release in Q2 of 2013
Click to expand...

So .. give us a realistic ballpark of profitability.

Say I was to drop $1300 on a ASIC machine above, what's the projected return? How long before I get my investment back & start seeing a profit?

Or is it a case of 'in a gold rush the guys making the profit are the ones selling the mining equipment'?
 
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w1z4rd

w1z4rd

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I want this bubble to burst so I can buy coins again. :/
 
J

Jimmy-Z

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Messages
757
Impossible to say when you'll make a return on the investment...

The only people coining it are those that got in on it when the gold rush started & before the value skyrocketed. When I started, it was only $20 per coin & I could mine 0.1 coins per day. Not a lot, I know, but it was something I could run in the background when I was playing games or when the PC was idle.

Also, no ASIC units have been confirmed shipped. When they arrive, the market will crash & if you're slow to sell, you may just be left with a very expensive paperweight. GPU miners could always sell their extra GPU's
 
E

EmileS

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Feb 13, 2013
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Rickster said:
I was mining for like 10min but the pc was lagging like a mofo, even the mouse at the desktop...
Click to expand...

I had this same issue, even got artifacts showing in Windows! Sounded like my GPU was about to take off, and I'm really afraid I'm going to nuke it!

Is there anyway you can reduce the GPU usage on this? What flag should I use in GPUMine? Was getting 430 Mhash when running with my GPU, however, it didn't sound or look good!
 
K

killadoob

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Messages
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evilstebunny said:
So .. give us a realistic ballpark of profitability.

Say I was to drop $1300 on a ASIC machine above, what's the projected return? How long before I get my investment back & start seeing a profit?

Or is it a case of 'in a gold rush the guys making the profit are the ones selling the mining equipment'?
Click to expand...

Check out this website, http://www.alloscomp.com/bitcoin/calculator

I could be mistaken but 20gh = 20000 mhash, the difficulty level has gone up but the price of a bitcoin is now 214 dollars.

So for your 12k investment, you could expect returns of about 100k per month possibly more/less depending on the price or bitcoin could crash in two weeks and you are left trying to recover your investment slowly. I wish i never sold my 30 bitcoins 3 months ago for 11 dollars but i thought it was practically dead after the big hack. Hopefully bitcoin has better security now because the banks will not be liking this.

If you buy the best bitcoin miner you can make this amount of money at the moment:
http://www.alloscomp.com/bitcoin/calculator

If my calculations are correct obviously :D.

Problem is the new bitcoin miners will flood the market by month end and if you have not ordered i dunno if you can get stock in time to cash in. If you spend 200k. i think i will set my 6990 to run 24/7 again, this bitcoin thing could get to 500 dollars possibly more. Those okes who make the hardware should mine bitcoins rather :D
 
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K

Kayoss

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Feb 26, 2007
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So been doing a bit of research on this today and it seems as tho the only ASIC unit to have made it to the market thus far is from Avalon.. These are no longer for sale as they sold out almost immediately (batch 3 already sold out with no mention of a possible batch 4).

What confuses me is that some places say it costs $1299 but Avalon's website says that it can only be bought using bitcoins. And it's priced a 100 bitcoins. But from what I gather, Bitcoins are sitting at $200 atm so that's $20000 for one system? (Already sold out).

Surely with more of these systems flooding the market, the difficulty is going to go sky high and their profitability will fall drastically? To the point where i'm unsure if this is profitable at all.. (of course it's impossible to predict the future value of bitcoins but i'm referring to the amount of bitcoins that will be mined). One thing seems apparent tho, mining without one of these ASIC units is soon going to be a complete waste of time..

Am I understanding this all right?
 
DTBA

DTBA

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Just asking.Even if u toast your GPU after a year or 3 you should be able to buy a new one with the money u make? How about drop 3 new pc's with a small CPU,RAM,HDD and something like a 660-680GTX let it run for 3 years.U should be able to make money:p
 
J

Jimmy-Z

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Messages
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DTBA said:
Just asking.Even if u toast your GPU after a year or 3 you should be able to buy a new one with the money u make? How about drop 3 new pc's with a small CPU,RAM,HDD and something like a 660-680GTX let it run for 3 years.U should be able to make money:p
Click to expand...


Not if you're mining with Nvidia....
GTX 680 - 120Mh/s
7970 - 580Mh/s

I have 2 680's for gaming & 1 7970 just for mining. Right now I'm seriously thinking of selling my coins & running another 7970
 
DTBA

DTBA

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Jimmy-Z said:
Not if you're mining with Nvidia....
GTX 680 - 120Mh/s
7970 - 580Mh/s

I have 2 680's for gaming & 1 7970 just for mining. Right now I'm seriously thinking of selling my coins & running another 7970
Click to expand...
WOW, can u maybe explain how many Mh is 1 coin?
 
J

Jimmy-Z

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Messages
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DTBA said:
WOW, can u maybe explain how many Mh is 1 coin?
Click to expand...


The 580Mh/s at the current difficulty is 0.04 coins per day

edit:

I'm using bitminter, so I earn bitcoins & Namecoins, which is another alt currency.
 
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K

killadoob

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Messages
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By month end gpu mining will be over guys, the difficulty will follow the hardware involved thus gpu's will be left in the dark, you will mine perhaps 0.01 coins a month. Either you buy the new stuff or don't bother buying gpu's to mine bitcoin.

The difficulty is going too high for gpus to considered profitable.
 
P

poffle

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Apr 21, 2007
Messages
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Eina! man this thing is volatile.

It's shaping up to be a pretty ugly day for Bitcoin.

After soaring past $250 earlier, it's tumbled all the way down to current levels around $150.

Bitcoin is now 44 percent off its intraday high of $266.

At its low of the day ($105), it had lost 61 percent of its value from the peak.

The chart below shows Bitcoin prices from April 9 through today.

bitcoin chart

bitcoin.clarkmoody.com

The virtual currency briefly staged a sizeable comeback this afternoon before getting slammed again.

The biggest question everyone has had about Bitcoin in recent weeks – aside from how it works – is whether or not it's in a bubble.

After all, the virtual currency has seen a remarkable rise since January, when it was trading below $15.

Already this afternoon, since the plunge began, we've seen some interesting defenses of the virtual currency popping up on the Internet.

A Reddit user posted a graphic showing the Spartans' shields from the movie 300 redesigned as Bitcoins with the word HOLD! across the top.

Another Reddit user sought to use technical analysis to explain away today's move.

Read more: http://www.businessinsider.com/bitcoin-plunges-2013-4#ixzz2Q9RJL44h


http://www.businessinsider.com/bitcoin-plunges-2013-4#ixzz2Q7vFPRRk
 
K

killadoob

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Messages
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Whether or not it's a bubble? LOL of course it is.

there is no possible way a bitcoin should be worth 250 dollars. Can't be sustained for much longer.

Mtgox is lying, they keep getting hacked. that is what caused bitcoin is virtually die a few months ago and nearly killed it. Once hacked there is no way to retrieve said bitcoins.

Happened 3 months ago and closed a few big bitcoin operators.
 
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