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Bitcoin Discussion Thread

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Any thoughts on why the drop today? 15 isnt bad but I was hoping it would stabilize where it was right around 20.
 
Vediovus said:
Starting to switch to Trixx myself to get the ram clocks down to 300 on my cards. The less heat I can generate the better. 2 5830s and 2 6850s do a good job heating a room up.
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I thought Trixx had issues with controlling the settings on multiple cards. Or have they resolved that now?
 
Chihlidog said:
Any thoughts on why the drop today? 15 isnt bad but I was hoping it would stabilize where it was right around 20.
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Seems to me there is quite a bit of dark pool / bot selling going on in the last few days to a week. So instead of having 50% market sings it's slowly moving downwards. I'd expect to the market to keep moving downwards for a good while still.

Just my 2 bits...
 
Totally pulling it out of the air, but my prediction is all the early adopters with huge amounts of bitcoins are attempting to cash out slowly enough to not crash the market. This is actually a good thing, because it moves large quantities of coins from hoarders to people more likely to want to use it to buy stuff.

I think the market will remain mostly flat for a while, if it does spike up again, more selloffs will happen to dampen it. If it falls too much, people interested in day-trading will come out and buy, driving it back up.
 
Parja said:
I thought Trixx had issues with controlling the settings on multiple cards. Or have they resolved that now?
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I don't have a machine with multiple cards currently. I need to move some power supplies around/wait on an rma before I try more than 1 card per machine. I'm not too thrilled about trying to run 2 cards on my LL v351 since the "top" card would be pretty starved for airflow intil I get a beefier fan.
 
Monkey God said:
Totally pulling it out of the air, but my prediction is all the early adopters with huge amounts of bitcoins are attempting to cash out slowly enough to not crash the market. This is actually a good thing, because it moves large quantities of coins from hoarders to people more likely to want to use it to buy stuff.

I think the market will remain mostly flat for a while, if it does spike up again, more selloffs will happen to dampen it. If it falls too much, people interested in day-trading will come out and buy, driving it back up.
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That makes pretty good sense to me actually.

I didnt care much at first sionce I just decided to use my 5850 to mine. I already had it in my rig and had nothing to lose. Now that I've spent real money on a 5830 solely to mine, I dont like seeing the drop and have to keep telling myself I'll probably at least break even for the near future.
 
To confirm what I posted yesterday, if the deal to buy a bunch of 5870's fell through I would quit mining. Well that's dead so I'm disgusted and done.

Anybody want to buy a 5970 or a 5870?

The 5970 was set for gaming at 900 /1210 for short session and 880 /1200 for marathons at the standard 1162mv. It has been mining 24/7 for days and days getting apx 760 in guiminer and 784 in phoenix 1.48 temps at 80% fan speed in a 75F room are 71/ 73 and 75/ 78 with phoenix. It will come with the original box, cables, crossfire bridge, driver disk, and the littler sapphire sticker. (I already used the Dirt 2 coupon).

The 5870, at 985 / 330 gets 420 MHash in guiminer and 431 in phoenix 1.48 but phoenix raises the gpu's temp by 5 degrees. Temp in guiminer at 60% fan speed is usually 65-ish. Before mining I had run it through MSI's Kombuster and pushed the GPU to 1015. I tossed the box for this card shortly after I bought it back in December 2010. It comes with cables (except a mini-d to HDMI cable), crossfire bridge, driver disk, and the little sticker.

These cards are crossfired in my daily use computer running SDK 2.4 and Catalyst 11.5. I haven't the slightest idea why phoenix makes the cards run so much warmer which is why I've mainly stuck with guiminer, however your temps and performance may vary based on cooling. A dedicated miner without a crossfire bridge, but with dummy plugs, should probably squeeze out a few more MHash.

As with everyone else, I've seen what these are going for on fleabay and amazon. $750 for the 5970 and $285 for the 5870 or an even $1,000 both. All prices include continental US shipping via UPS ground. I am posting here first, the main for Sale/Trade board later and amazon over the weekend.

I'll take cash, bitcoins (to be immediately cashed out on mtgox), or paypal. If you want a bitcoin escrow service then you can pay for it.
 
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Vediovus said:
I don't have a machine with multiple cards currently. I need to move some power supplies around/wait on an rma before I try more than 1 card per machine. I'm not too thrilled about trying to run 2 cards on my LL v351 since the "top" card would be pretty starved for airflow intil I get a beefier fan.
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I had a machine running multiple cards and the heat was almost unbearable, it didn't help that they weren't very efficient miners and ran hot (4890 and 4870, but they were all I had at that time), I was relieved when my 6850 came, roughly the same hashing power as those two cards (if not a little more) in a one card, one PCIE connector solution, but the heat is still coming out of the top of my case (600T), not as much as before, but it's still pretty toasty around the computer, the 6850 is definitely no 5850 with regards to temps and heat...lol
 
Parja said:
I thought Trixx had issues with controlling the settings on multiple cards. Or have they resolved that now?
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Nope trixx still sucks. I tried for hours last night trying to get it to control more than 1 card with no luck. I'm pretty ticked about it so now 6 out of 8 cards are not going to run as well as i hoped.

At stock volts all of them hit 950 with 2 CM r4s blowing on them using afterburner. So not too bad.
 
gigatexal said:
Sorry bout the bad deal teenyman
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yeah, that sucks, but why not keep at least one miner...? a "just in case" miner that could probably get you a decent amount of bitcoins (the 5970?) for at least another month or two, see what the market looks like then...? I don't believe in a lot of the forecaster charts, but some have pegged the value in the thousands of dollars per bitcoin at some point...you just never know...
 
wol-va-rine said:
yeah, that sucks, but why not keep at least one miner...? a "just in case" miner that could probably get you a decent amount of bitcoins (the 5970?) for at least another month or two, see what the market looks like then...? I don't believe in a lot of the forecaster charts, but some have pegged the value in the thousands of dollars per bitcoin at some point...you just never know...
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If that happens .... well ..... I'll be absolutely speechless. Anything is possible, but THOUSANDS?
 
Chihlidog said:
If that happens .... well ..... I'll be absolutely speechless. Anything is possible, but THOUSANDS?
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If it takes off, yes it could. The question is will it take off, or will government lap dogs at the urging of the banks and such kill it before that happens?
 
Neb said:
Remember that in the future it's possible that generating a single bitcoin may take a VERY long time.
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True enough. Its just such a unique currency that it's hard for me to really feel strongly about what may happen one way or another, since there is really no historical reference for anything like it. It's all completely wild speculation.

Although, I do see the value in the thousands as much more likely than it completely losing ALL value, I think it has taken off to sufficient degree that it will always be wroth something. Shit, if it goes into the thousands Im going to be a very, very happy guy. I just cant see the market supporting that. Imagine the guys who have a few hundred of these or even a few thousand, if they decided to sell it would cripple everything, and who could buy all that?

Kardonxt said:
yep that's when I decided to order a bunch of 5830s and they finally get here and difficulty has gone up and value has gone down. Story of my life lol
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You, me, and thousands of others. I knew that going into it. My hope is that people will get bored with it or decide it isnt worth it and sort of drop off, leaving it for those of us who wanna stick with it.

I dont expect much. If after all is said and done in a few months I can get myself a new gaming rig from my profits with bitcoin, I will be very, very happy.
 
Chihlidog said:
You, me, and thousands of others. I knew that going into it. My hope is that people will get bored with it or decide it isnt worth it and sort of drop off, leaving it for those of us who wanna stick with it.

I dont expect much. If after all is said and done in a few months I can get myself a new gaming rig from my profits with bitcoin, I will be very, very happy.
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yeah exactly. i will definitely be getting out of it soon. right now im getting a bitcoin every two or three days, and after another difficulty increase or two, it just wont be worth the meager profits to have my computer so loud and hot. especially in hawaii where the room is already 85 degrees every day. im hoping to get a couple bitcoins and hold onto them for a while. if it drops some more i might buy a couple hundred bucks' worth, and if they do go up a lot i might make a few hundred or a few thousand. if they go down then im only out a couple hundred bucks.
 
LOL I just sold 2 $900 computers for $1700 EACH on ebay as "specialized bitcoin machines."

"Specially selected low power componets to maximize your profit" translates into $40 amd cpu's and 50% profit margins for me.

I freaking love bitcoin.
 
ekuest said:
yeah exactly. i will definitely be getting out of it soon. right now im getting a bitcoin every two or three days, and after another difficulty increase or two, it just wont be worth the meager profits to have my computer so loud and hot. especially in hawaii where the room is already 85 degrees every day. im hoping to get a couple bitcoins and hold onto them for a while. if it drops some more i might buy a couple hundred bucks' worth, and if they do go up a lot i might make a few hundred or a few thousand. if they go down then im only out a couple hundred bucks.
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yep, exactly, people made thousands on the price drop from $30 to $10 because it rallied back to what, $25 at some point...? trolls were flocking to the bitcoin forums screaming SELL, SELL...!!! and people panicked and listened, then the trolls bought low, waited for it to stabilize and sold them back making thousands in the process...

I also think that the early adopters (AKA the big hitters) aren't stupid enough to just try to sell all at once, why cash out all at once when there is ample time to milk the system and possibly profit even more...? hell, even if a big hitter cashes out all it will probably do is flood the market for a while and drive the price down a bit, but even then those sold bitcoins will still be with someone, it's not like they're just gone when sold...
 
Wouldn't the value go up as difficulty increases? Because they're harder to mine?
 
computerpro3 said:
LOL I just sold 2 $900 computers for $1700 EACH on ebay as "specialized bitcoin machines."

"Specially selected low power componets to maximize your profit" translates into $40 amd cpu's and 50% profit margins for me.

I freaking love bitcoin.
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lol, that's closer to 100% profit margins, no...?

that's pretty cool, is it parts for systems you were gonna put together to mine and then decided not to...?
 
I'd be very curious to know who the numbnuts are that are selling below $15 today.
 
Well, they didnt go up with the last difficulty increase. They've dropped slowly but steadily since then.
 
computerpro3 said:
LOL I just sold 2 $900 computers for $1700 EACH on ebay as "specialized bitcoin machines."

"Specially selected low power componets to maximize your profit" translates into $40 amd cpu's and 50% profit margins for me.

I freaking love bitcoin.
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hahahahaha lol! you magnificent bastard! :D
 
at this point I'd rather sell my cards and later cash my coins and get a 30inch IPS and a pair of 6950s to last until the 600 series or the 7000's whichever is better. After all, I originally built this computer for gaming.
 
The bitcoin market itself is reall really thin. you find significant support or resistance at certain psychological thresholds usually at the XX.00, XX.50 or about a penny or two off from those marks. Otherwise, you can see as much as a 20 or 30 cent spread between individual asks or individual buys and even then those limit orders might only be 5-20 coins.

Whenever somebody wants to cash out the price tends to drop several bucks because there simply isn't enough of a market and those sellers are either impatient, careless, or purposely trying to tank it to buy back in at a lower price.
 
computerpro3 said:
LOL I just sold 2 $900 computers for $1700 EACH on ebay as "specialized bitcoin machines."

"Specially selected low power componets to maximize your profit" translates into $40 amd cpu's and 50% profit margins for me.

I freaking love bitcoin.
Click to expand...

ingenious. play the market for what it's worth.
 
computerpro3 said:
LOL I just sold 2 $900 computers for $1700 EACH on ebay as "specialized bitcoin machines."

"Specially selected low power componets to maximize your profit" translates into $40 amd cpu's and 50% profit margins for me.

I freaking love bitcoin.
Click to expand...

I'd love to see the Ebay ad for that. I bet I can get about just as much out of this machine!
 
Dallows said:
Sigh. Why can't I ever know about shit during the good times.
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I'd say now is still a good time to be mining. Not necessarily investing a lot of money into hardware, but if you've got it already then I think mining will stay profitable. By how much Im not real convinced, but there s abit to be made yet even worst case scenario.
 
Chihlidog said:
I'd say now is still a good time to be mining. Not necessarily investing a lot of money into hardware, but if you've got it already then I think mining will stay profitable. By how much Im not real convinced, but there s abit to be made yet even worst case scenario.
Click to expand...

That's true, but the early birds will be making buckets.
 
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