Associate
- Joined
- 3 Sep 2013
- Posts
- 61
For the people that currently mine - would you say its worth investing in a mining rig right now?
*** CRYPTO-CURRENCY MINING SYSTEMS: GET DAT $$$$ ***
- Thread starter NathWraith
- Start date
Soldato
- Joined
- 17 Jun 2005
- Posts
- 6,508
- Location
- Near Brighton
Do you own any hardware you can use (mobo, cpu, ram, psu, case) ? If you were to buy graphics cards for mining, would you also use them for gaming once mining isn't profitable?
I've been thinking the same thing about whether it's worth it or not. I've just sold an iMac and am going to use the proceeds of that to mine with. It's not like I have anything to lose seeing as I'm only using the money that the iMac was worth.
Currently eyeing up 3 x R9 290 cards or 2 x 7990. The latter is obviously more expensive, but I'm hoping it will work out better in the long run.
When you buy a car do you ring them up and ask them what brand and model the fuelpump is?
Thought not.
What really confuses me, if it is really viable, is why butterfly labs and the like are selling asic miners.
Surely in their position it would be easier to just keep all the miners for themselves, mine, make millions of BC and then sell it?
Which makes me wonder; do they know something we don't; is BC a flop. The threads I have seen about exchanges stealing coins or not paying out or wallet companies selling user/pass' to "hackers" certainly suggests so.
Surely in their position it would be easier to just keep all the miners for themselves, mine, make millions of BC and then sell it?
Which makes me wonder; do they know something we don't; is BC a flop. The threads I have seen about exchanges stealing coins or not paying out or wallet companies selling user/pass' to "hackers" certainly suggests so.
Because the difficulty will get harder, and at some point they would have millions of these cards lying around that are no longer useful, they have to create better ones. That'd be a waste of electricity.
With these coins, early adopters get it all, while the late ones get the rest or nothing. Nice "Currency".
That's just stupid.
Memory is a customisable item, you like to know what it has as standard. Just the same as a car may have a many audio or trim options.
Of course people who buy this kind of enthusiast kit, want to know what components they are actually paying for. Why shouldn't they?
Associate
- Joined
- 3 Dec 2010
- Posts
- 23
I've priced mine up doing a quad-GPU configuration but using budget everything else, much cheaper
CPU and GPU mining is obsolete and also impossible to earn from as the electric used would cosy more than the bitcoin
These lame miners would take years to mint ! coin.
To mine you actually need ASIC equipment, the card below can generate 0.30 coin per day.
http://www.butterflylabs.com/monarch/
Those power hungrey GPU's could be out performed by a usb asic dongle that uses 2.5w
Last edited:
The near 1k I just had drop in my bank account, I disagree.
The difficulty keeps increasing, so those already in are the ones who do well, if difficulty keeps increasing then now is the time to be in whilst it is still profitable and with more different forms of mining appearing, it can still be worth while for sure.
Soldato
- Joined
- 23 Nov 2011
- Posts
- 2,744
- Location
- London
The near 1k I just had drop in my bank account, I disagree.
The difficulty keeps increasing, so those already in are the ones who do well, if difficulty keeps increasing then now is the time to be in whilst it is still profitable and with more different forms of mining appearing, it can still be worth while for sure.
I didn't know that you were a miner Andrew
I didn't know that you were a miner Andrew
Yes was mining bitcoin, made the mistake to stop mining bitcoin.
Fortunately I had mined a couple, and sold them at the recent highs, only wished I had continued as I'd have had probably nearly 10 bitcoins by now. Hence now I am mining litecoins and won't be stopping because who knows, this time next year litecoins could be worth $500 or $5, that's the gamble, in it to win.
Soldato
- Joined
- 23 Nov 2011
- Posts
- 2,744
- Location
- London
Yes was mining bitcoin, made the mistake to stop mining bitcoin.
Fortunately I had mined a couple, and sold them at the recent highs, only wished I had continued as I'd have had probably nearly 10 bitcoins by now. Hence now I am mining litecoins and won't be stopping because who knows, this time next year litecoins could be worth $500 or $5, that's the gamble, in it to win.
Thats a shame
hope that the Litecoin's work out for you, but it must be easier for you with the ammount of GPU's you have laying about the office 
- Joined
- 11 Dec 2005
- Posts
- 11,364
- Location
- Cheshire
Useless for LTC though.
Thats a shame
I was only using a 7970, again another mistake as I could have used a 7990 as well, but never. Oh well.......
Soldato
- Joined
- 13 Jul 2004
- Posts
- 20,341
- Location
- Stanley Hotel, Colorado
and what fps does it get on bf4.
It might make money today but will it earn back its cost. Maybe but why not just stick to gpu especially if already owning one.
I leave ASIC to the professionals because that is where BTC is now, its an international currency trade and maybe it'll take off or maybe these asic chips that can hash so easily will be its downfall.
Could be gpu mining is the most sensible thing and LTC will take over. We dont know but gpu has a backup use at least, seems like a win/win
The whole market is subject to possible collapse if any one entity can control 51% of the available hashing, in theory it might allow them to fake currency movements. It'd be shooting themselves in the foot, this might occur anyway; its easier to sell shovels in a gold rush
Last edited:
Soldato
- Joined
- 20 Jul 2009
- Posts
- 4,827
- Location
- The bleak North East arm pit of Britain
Has anyone looked into other forums of coins as your not just limited to litecoin for example.
There are Dogecoins, BBQcoins, namecoins etc etc
So with that in mind perhaps look to mine something different whilst the difficulty is low on them and if your lucky you may end up with the next bubble!
http://dogecoin.com/
There are Dogecoins, BBQcoins, namecoins etc etc
So with that in mind perhaps look to mine something different whilst the difficulty is low on them and if your lucky you may end up with the next bubble!
http://dogecoin.com/
Soldato
- Joined
- 13 Jul 2004
- Posts
- 20,341
- Location
- Stanley Hotel, Colorado
Its not listed here http://www.coinchoose.com/
I dont see it on cryptsy either so not for me, seems a bit of a joke but I heard its done well anyway. Another one, stupidly popular in china but without actual good reason is applecoin.
I guess its the name, its another clone and not listed properly so not for me.
6 months old, Quark coin can be mined on CPU. Simple to do, trying that one though it might not last.
Others are Mega, digital and world coin. All are covered by multipool who monitor which has the highest profit and redirect the miner automatically so I like using them. Collecting WDC, it might go somewhere in 2014 not sure.
NMC or namecoin is very interesting. I have some stored away for a years time if it ever gets used properly as DNS it'll be 100x higher maybe.
I sold 500 quark for about 50p, opps, its worth or was recently at £80
In theory its superior to BTC but nothing is certain if anyone will use or has any need to use all these various types
I dont see it on cryptsy either so not for me, seems a bit of a joke but I heard its done well anyway. Another one, stupidly popular in china but without actual good reason is applecoin.
I guess its the name, its another clone and not listed properly so not for me.
6 months old, Quark coin can be mined on CPU. Simple to do, trying that one though it might not last.
Others are Mega, digital and world coin. All are covered by multipool who monitor which has the highest profit and redirect the miner automatically so I like using them. Collecting WDC, it might go somewhere in 2014 not sure.
NMC or namecoin is very interesting. I have some stored away for a years time if it ever gets used properly as DNS it'll be 100x higher maybe.
I sold 500 quark for about 50p, opps, its worth or was recently at £80
In theory its superior to BTC but nothing is certain if anyone will use or has any need to use all these various types
IIRC Quark dropped like a lead balloon once one of the devs outed it as a scam.
