AMD Mining Devices Making Millionaires Worldwide

Discussion in 'Video Cards' started by jww20, Nov 28, 2013.

  1. jww20

    jww20 [H]Lite

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  2. QKSILVR73

    QKSILVR73 Limp Gawd

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    Be Wary the US Government is eyeballing this bitcoining thing. Something about not legal currency in the US.
     
  3. Broons

    Broons [H]Lite

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    Can the government really stop it though?
     
  4. xoleras

    xoleras 2[H]4U

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    Just FYI, GPU mining is done. The difficulty has increased to a point that dedicated mining ASICs are the only thing usable to generate sufficient returns.

    GPU mining *used* to be pretty good. Now? It's worthless. On the other hand, all those guys who mined early years ago and saved their coins...they probably made a killing. ;)
     
  5. HFBallad

    HFBallad Gawd

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  6. {NG}Fidel

    {NG}Fidel [H]ardness Supreme

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    Yeah I do use my GPU to mine every now and then (electricity is free for me) but thats all while saving for dedicated mining ASICs.
     
  7. x3sphere

    x3sphere 2[H]4U

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    I don't think you've seen recent Litecoin prices. 1.4 MH/s (two 7970s) brings in $1100 a month at current rates.
     
  8. TechPirate

    TechPirate [H]Lite

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    There are no ASICs for mining Litecoin, so dust off those Radeons!
     
  9. xoleras

    xoleras 2[H]4U

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    I see! I wasn't aware of this, I stand corrected.
     
  10. Damos

    Damos Limp Gawd

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    Yep. Litecoin is where it is now. Unfortunately, Electricity prices for me makes it pretty much impossible now.
     
  11. xoleras

    xoleras 2[H]4U

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    What kind of returns would one typically expect in the US with current electric prices?
     
  12. collegeboy69us

    collegeboy69us [H]ardness Supreme

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    right now -- big ones.

    I run two 290's and two 7970ss I pay 8.5 cents per kwH - so it costs me what? 60 dollars per month to power the video cards. The fact you can generate (for now) 1000+ dollars means its uberprofitable.

    I'm just kicking myself because I remember mining LTC back early (mined around 1100 coins) sold them off when the price spiked and fell months ago.

    Could have paid off 1/2 my house instantly.

    Oh well -- it's still free money rolling in.
     
  13. x3sphere

    x3sphere 2[H]4U

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    Unless you are trying to mine with those 470s I can't see how your electricity prices will negate any profit. 0.12 kwh here, running two 7970s costs around $50-60 a month. So that's still $1000 net profit at current prices.
     
  14. jojo69

    jojo69 [H]ardForum Junkie

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    Actually

    the Senate hearings on crypto currencies just last week, carried live on CSPAN2, went very well, with Senators (clearly well briefed on the technology by staffers) reluctant to over-regulate and make the US noncompetetive in what is clearly the currency of the future.

    Your FUD is weak sauce indeed.
     
  15. Rational

    Rational Limp Gawd

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    I keep toying with the idea of building a LTC rig because power is free. But it is just so much information to read.
     
  16. Digital Viper-X-

    Digital Viper-X- [H]ardForum Junkie

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    gpu mining is only done for bitcoins, it's alive and well for litecoins though.
     
  17. Spazturtle

    Spazturtle [H]ard|Gawd

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    I have free electricity and just picked up a 7990 for cheap, litecoin here I come.
     
  18. IncoherentOrange

    IncoherentOrange n00b

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    I've been intrigued by this cryptocurrency thing for a while, but the rather simple fact that CUDA is just not good at hashing them has hindered any attempt to get into it. I've thought about buying a mining rig and running it all the time, but I haven't had the cash. I think I'll wait and see where this goes and maybe when I have the money on-hand I may just get a machine for the purpose, should it remain viable. Power is quite cheap here, to my knowledge, and the money I can theoretically make is promising.
     
  19. Kritter

    Kritter Gawd

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    Bubble economics and short selling. MAKING INTERNET DOLLARS!
     
  20. StatutoryApe

    StatutoryApe Limp Gawd

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    I was reading all of the necessary stuff for litecoin mining and installing it when i came across the tidbit about XFX cards having issues for mining. Dammit all.
     
  21. Digital Viper-X-

    Digital Viper-X- [H]ardForum Junkie

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    IIRC : AMD hardware has instructions built in to do a bit shift in 1 cycle vs 3 on nv
     
  22. samuelmorris

    samuelmorris [H]ardness Supreme

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    I've been mining away without issues on two XFX (admittedly, reference) HD6970s the last two nights. What issues are these?
     
  23. collegeboy69us

    collegeboy69us [H]ardness Supreme

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    XFX doesn't have any issues mining, i have an XFX 290 mining away as I type this without issue for the past 2 weeks.
     
  24. mkrohn

    mkrohn 2[H]4U

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    quit reading and just get mining... without power in the equation its a no brainer grab up 5850's and 6x's like crazy because most are avoiding them due to power onsumption but they can still hash quite well
     
  25. mkrohn

    mkrohn 2[H]4U

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    my 3 6950's want to say WTF? I have a black edition 280x on the way as well. I've ordered a variety pack of R9's to determine what brands work best for what I'm doing and then i'll just order a ton of them after spending some time tuning them.
     
  26. TurboGLH

    TurboGLH Gawd

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    For litecoin, is everyone here solo mining, if not, what pool(s) are you in?
     
  27. horrorshow

    horrorshow [H]ardness Supreme

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    *strokes chin.....
     
  28. Rational

    Rational Limp Gawd

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    I live in Sweden now, so getting used stuff cheap is not really an option. But I will look around and see what I can find. May as well, free power and tons of free time.
     
  29. RanceJustice

    RanceJustice [H]ardness Supreme

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    How do the AMD 290X fare for Bitcoin (or Litecoin, or Namecoin etc..) mining? I've heard conflicting opinions that the 5000, 6000, or 7000 series are the places to go for this and that the 290X, 290, 280 etc... aren't up to snuff, yet I've also heard the alternative that the 290X is the place to go right now etc...
     
  30. R3MF

    R3MF [H]ard|Gawd

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    curious about this too.

    i have a 7790 i got for £80 sat around doing nothing...
     
  31. kirbyrj

    kirbyrj [H]ard as it Gets

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    I use middlecoin because it auto converts to BTC and mines whatever they deem to be most profitable at the time. I make ~$20/day recently with spike in BTC prices with a single 7950.
     
  32. kirbyrj

    kirbyrj [H]ard as it Gets

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    The 280X and below are essentially rebranded 7XXX series cards. The 290(x) is similar with more shaders. Bang for the buck is probably still a 7950 depending on the price you get it at. You can find them used for around $160. You should be able to tweak it to around 600kh/sec.
     
  33. samuelmorris

    samuelmorris [H]ardness Supreme

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    Pooling with wemineltc
     
  34. jwcalla

    jwcalla 2[H]4U

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    I find this very surprising.

    If you can make $1,000 / mo w/ a pair of 7970s... why not get... say, ten 7970s and make $5,000 / mo?
     
  35. xoleras

    xoleras 2[H]4U

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    Probably not worth the risk? Litecoin prices from what i'm reading are pretty volatile. You might have a great month, and then a terrible month depending on volatility. The prices are not consistent at all.
     
  36. jwcalla

    jwcalla 2[H]4U

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    How much are people, on average, making on litecoin mining with a pair of 7970s or such?

    By average, let's say the past 6 months or 12 months.
     
  37. samuelmorris

    samuelmorris [H]ardness Supreme

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    I'm running two HD6970s, and have done it for two nights so far (I refuse to leave the PC running flat out with nobody home, even though i know it'd make far more money to do so). This has made me 0.15LTC and 0.25LTC (8, 12 hours respectively), which from what I can gather is about $5.50 and $9, or £3.50 and £5.50 in my local currency. Considering it's running less than half the day, $9 a night isn't too bad. Assuming the litecoin rate stays stable for now that's potentially $63 a week. This is three year old hardware it's being run on though, so I'm trying to be a little bit considerate :D

    I have to say though, I've not looked at trying to sell any LTC yet.
     
  38. thebufenator

    thebufenator [H]ard|Gawd

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    Wht options do you run? I was only getting 20k/s with my 7950
     
  39. Pitbully

    Pitbully [H]ard|Gawd

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    What pools are people using? Trying to get my feet wet at the moment in litecoin and having some problems finding pool. Been trying to join mine.lite-coin.com for 3 days now and their site is so slow or down completely, I'm really losing faith there...Registered with lite.coin-pool.com and I'm having problems getting CUDAminer running with their script.
     
  40. Vengance_01

    Vengance_01 [H]ardness Supreme

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    Might have to try for a few months and mine to pay for 290