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Bitcoin Discussion Thread Part 2

Hey guys, if I had 6 5870s, would that be a bit overkill for mining? I'd be using the riser cables and a custom made bench for the set up. How much power would it draw in total and what would be a good PSU to hold that much?
 
The more the merrier. I had 4 5870s with 2gb ram and a Sempron 145 and it pulled just shy of 750w under a mining load.
 
If you already have 6 5870s it's worth a shot. However if you plan on buying them i wouldn't bother. There is no way you will even make your money back before rewards drop to 1/2. Then if asic miners come out in the next year or so you will never make your money back.

If you have free electricity however you have a better shot of making back your money.
 
yeah, the era of GPUs paying for themselves is over...my 6950s might just do it and they have been running flat out for 18 months already...if you already have the hardware and cheap electricity fire that shit up!
 
I have a 6950 and 6970 - no free electricity.

I love mining in the winter months as it's "free" heat. But here in N. Texas it's 105F and we aren't even in august yet. No way in hell am I paying for the electricty, and then paying for more electricity to cool down the massive heat these things dump.
 
I cashed my coins in far to early, and now mtgox is giving me crap about dwolla verification documents.

Ugh. anyone verified at mtgox that would be willing to cash me out?
 
Veeb0rg said:
I cashed my coins in far to early, and now mtgox is giving me crap about dwolla verification documents.

Ugh. anyone verified at mtgox that would be willing to cash me out?
Click to expand...

Yeah I see this too, is there any way around this annoyance?
 
Sold off my coins today. I've been been mining for ~6 months, and holding them waiting for a bubble. sold off 77.4 coins for $8.49 each for about $657 dollars.

Considering I purchased the gear for about $415 (unlocked 6950, swap 5830 for a gtx460 768, and 5770x2, plus a case, motherboard, ram, CPU, and CX 430 PSU for the 5770s).

Used about $190 in power as well, the cards are heavily undervolted increasing their efficiency by quite a bit.

So I'm basically looking at free hardware, (which I could sell off for more money), and ~$50 in profit.

Not too bad, having my gaming equipment pay for itself :).
 
canna said:
Sold off my coins today. I've been been mining for ~6 months, and holding them waiting for a bubble. sold off 77.4 coins for $8.49 each for about $657 dollars.

Considering I purchased the gear for about $415 (unlocked 6950, swap 5830 for a gtx460 768, and 5770x2, plus a case, motherboard, ram, CPU, and CX 430 PSU for the 5770s).

Used about $190 in power as well, the cards are heavily undervolted increasing their efficiency by quite a bit.

So I'm basically looking at free hardware, (which I could sell off for more money), and ~$50 in profit.

Not too bad, having my gaming equipment pay for itself :).
Click to expand...

Cool. I wish I would have gotten involved sooner, I am just now getting my feet wet with about 1.5BTC so far.
 
canna said:
Sold off my coins today. I've been been mining for ~6 months, and holding them waiting for a bubble. sold off 77.4 coins for $8.49 each for about $657 dollars.
Click to expand...

I miss the bitcoin boom when I was cashing out $400+ every week lol.
 
We're almost at $9 men, somethings a brewin.

Gonna sell my 25 btc and pick up a second 7970 for my main pc which mines at night.
 
I just happened to check mtgox for no reason and saw the price it was at. I have 10 BTC. Anyone have some DDR3 they want to sell me for BTC? Looking for triple channel.

Edit: Also willing to give more value in BTC then what the ram is worth for your trouble.
 
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Really makes me wish I'd have kept my 6970+6950 cooking the past 6 months.

The fact was since I have to pay for my own electricity to mine (and to cool) it just wasn't worth it. Here in TX the 102F daily heat doesn't help.

Nice to see the price going back up -- part of me thinks that we will see the price go up for a while then crash back down again.

It seems in pretty much every market (banking/homes/investing/dotcom/bitcoin) the markets are constantly getting pumped and dumped. a few people get crazy rich and everyone else is left holding their junk.
 
So I'm considering preordering a ButterFly Labs Jalapeno SC. The claims on this seem a bit unrealistic, but the company seems to be a reputable one. Anybody else preordering it? It also kind of scares me that they ONLY accept bitcoins or a wire transfer. At least if I used paypal or a CC I could dispute the charges for false advertising... Any insight? currently mining with a 5870 and 9800gt, getting 420mhash at peak.

I'm also debating replacing the 9800gt as it only makes about 30mhash/s, with a 5830 since they seem to be the best option in terms of value.
 
I hope this is the right place to ask this, but when I look at the comparison lists for which GPU's are worth while using and what not, I get lost reading the equivalencies.

So my question is this, where does a single 6990 rank in the fray? I am tempted to let it run loose on a tiny 1156 system I have.
 
elite.mafia said:
So I'm considering preordering a ButterFly Labs Jalapeno SC. The claims on this seem a bit unrealistic, but the company seems to be a reputable one. Anybody else preordering it? It also kind of scares me that they ONLY accept bitcoins or a wire transfer. At least if I used paypal or a CC I could dispute the charges for false advertising... Any insight? currently mining with a 5870 and 9800gt, getting 420mhash at peak.

I'm also debating replacing the 9800gt as it only makes about 30mhash/s, with a 5830 since they seem to be the best option in terms of value.
Click to expand...

Ditch 9800gt, to much power, you are losing money everyday on that one.

As for BFL, they are the real deal at least for their current line. You can always until the actually release the product and buy then.
 
Wyluliraven said:
I hope this is the right place to ask this, but when I look at the comparison lists for which GPU's are worth while using and what not, I get lost reading the equivalencies.

So my question is this, where does a single 6990 rank in the fray? I am tempted to let it run loose on a tiny 1156 system I have.
Click to expand...

With a 6990 - assuming heat is not going to be an issue, you should be getting around 680-700MHash/sec with that setup.

Pretty similar to what I get on my 6970+6950 crossfire setup mildly overclocked. If you don't pay for the electricity then I say crank it up - however you will be throwing off a good amount of heat.

Up north it might not be an issue - here in Central Texas I won't be mining till it starts to cool off. Winter is the only time I can mine "for free" because the waste heat produced means I don't have to run my heater at all during the winter.
 
Wow - just did a bit of reading on the butterfly labs stuff -- 3.5GHash/sec for $150? Wonder what the wattage use would be?

I refuse to do pre-orders and all that jazz, but for $150 I might have to try and get one in october. Assuming the BTC price stays stable you could make your money back in a week (in theory)
 
Depending on how many they sell, it could affect the difficulty greatly. If they only sell a hundred or so, it may not affect the difficulty by much, but if they thousands of them it will. Every BTCer is going to want these, so good luck getting one if you don't have a pre-order.
 
yep Sethmo has it right. If you want to make the big bucks you need to get these things on pre-order and get a lot of them. In a few weeks or months the difficulty will have settled and you''ll be back to making pennies over cost.

Just like when the bitcoin craze hit the only people who really made out big already had ati hardware and went for broke for more hardware. People who waited to see what would happen missed out on the most profitable time. I made more money in the first month or 2 than I did in the nest 6 months combined.

I agree that i'm not really comfortable spending $1000 in bitcoins for a product that doesn't yet exist. I think I'm just going to sit this one out but if i had more faith in bfl i strongly would consider a bitforce single.
 
Kardonxt said:
yep Sethmo has it right. If you want to make the big bucks you need to get these things on pre-order and get a lot of them. In a few weeks or months the difficulty will have settled and you''ll be back to making pennies over cost.

Just like when the bitcoin craze hit the only people who really made out big already had ati hardware and went for broke for more hardware. People who waited to see what would happen missed out on the most profitable time. I made more money in the first month or 2 than I did in the nest 6 months combined.

I agree that i'm not really comfortable spending $1000 in bitcoins for a product that doesn't yet exist. I think I'm just going to sit this one out but if i had more faith in bfl i strongly would consider a bitforce single.
Click to expand...

I fully understand about being an early adopter -- my thing is I literally only have one bitcoin to my name. Over the past year or so, grand total I might have mined maybe 20 or 30 coins in my life. And doing a bank wire transfer just doesn't sit well with me for something that's in essence a "hobby" and a total unknown.

The thing I'm wondering about is: if I were a company and creator of this awesome super low power giga hashing machine, I would personally crank out a respectable volume of them, run them on my own for a while (for stress testing - wink wink) and then sell them for mondo profit. That way you not only have a big bank from selling your awesome creation you are also sitting on a huge pile of bitcoins before the difficulty goes up thanks to the general population having access to these things.
 
the fact that bitcoins are sitting at 11$ right now is pretty cool

Not that I'm going to make much money with 6950+6970 I have in my rig, especially during the 107F temps we have here in N. Texas.


Ive been wondering though if something is going on in the market, another classic bubble or pump and dump we are all familiar with the past few years. With the bitcoin block reward getting cut to 25 (from 50) here in a few months. I'm just wondering if the value is being jacked up for a sell off and then as soon as the reward gets split, the value of BTC will come crashing back down.

Only upside is that in less than a month I will be living in an "all bills paid" setup so electricity will essentially be free.
 
brycejones said:
Ditch 9800gt, to much power, you are losing money everyday on that one.

As for BFL, they are the real deal at least for their current line. You can always until the actually release the product and buy then.
Click to expand...

Yeah I ditched it a few days ago, causing a lot of issues unrelated to bitcoin mining. Since I actually use this computer a lot I think the rate is about the same without it, since it drops a lot when I game.
 
I just opened my btc client and realized I had 5.5 still in there. Just sold them for $11 and change :)
 
I had 10 BTC in my account over at BTC guild that I forgot about. Buying 24 GB of ram with it now.
 
i did good whit bit coins started whit 2 unlocked 6950s when coins for going for like $8 a coin back in the day then whit in a month there whit $20 or so and i went and sold like 30 of them for 2 more 6950s. then i mad a good bit of coins before the price fell to low and i sold off a lot of coins for $16 a pop and bought a 3930k rig, sadly i sold 70 coins for $3.3 a few months ago to get a denon 5000 and only have 29 left right now:( and its so funny my wife my dad and my brother thought i was crazy for telling them they should have invested in coins back in the day now my wife is always asking me to buy her stuff whit them lol.
 
I know that you were retelling your story, but your reply made my eyes bleed, my brain hemorrhage, and my spleen do back flips.
 
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