master noran
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Bitcoin Mining GPU Performance Comparison @ [H]
- Thread starter FrgMstr
- Start date
720 Mh/s on those two cards? Would you mind sharing the split? How much Mhash on each card? I'm thinking of going 6970+6870 just to pay them off.
400 Mh/s on the 6970, 320 Mh/s on the 5830
I've got my 6970 clocked to 900mhz (+20 mhz OC) and 1020mhz on the 5830. Both stock volts... could push them even more but worth the extra heat imo.
UrbanSmooth
Limp Gawd
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Is anyone actually spending their bit coins on stuff?
Yeah, 0.06.
Not bad, do you remember what your income per day was back in May?
100 mhash is low, maybe that's why you're not making much?
Haha I knew somebody would make that nonsensical statement. Even if it was 1000 Mhashes/sec it would be a pittance - $8 / day. Keep rolling dem eyes, lol.
But if 1 ghash is profitable, so is 10 ghash and so on.... $80/day isn't bad.
Well let's see. Deepbit is running about 4600Gh/s. Yesterday they got 59 blocks, day before they got 57. Let's assume that of the 144 blocks available in each 24hr period deepbit gets 59. Assuming equal distribution of luck we get total network speed of 4600*144/59 ~ 11,200Gh/s.
If I bring 10Gh/s tomorrow, then on average I should mine 144*10/11,210 ~ 0.13 blocks/day. That's $85 at current prices, not too bad right?
However:
1. Initial cost is high - at least 5 machines with 4 overclocked 6970's each (~$7000).
2. Powering and cooling all that hardware 24hrs/day is not a trivial expense.
3. The total network speed will keep increasing hence my piece of the pie will keep shrinking unless I keep adding hardware too (more cost).
Given the low barrier to entry an increase in the price of bitcoins won't help balance the equation either. If the price rises, even more miners will invest in hardware and join the network, again reducing the payout to any one individual miner.
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Right.... But if 1 ghash is profitable, so is 10 ghash and so on...
Ah but who said 1Gh/s is profitable? If like the guy above you already have 3 video cards dedicated to mining perhaps but that's a small population. Nobody getting into serious mining today is going to profit, as I said - it's only for early adopters.
Well that's for each individual to decide. I don't mine, but I'll probably pick up video cards for gaming anyways.
Given that I don't pay for electricity, I'd probably be profitable rather quickly.
master noran
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Oh lawdy, the more MHASH you get the more money you make on a daily basis, it was always like that. 1000 mhash at 8 dollars a day can pay off the trifire 6950's quite soon especially if you hold on to those bitcoins while the difficulty is lower, then when the difficulty get's higher so will the price per bitcoin. You must be thinking of mining with GTX580's at $500 or so per GPU for 100 MHASH. If you have fairly low electricity rates and have the cards spread apart using extenders then you should no issues with heat, should be making more then your electricity cost and in turn making a FUCKING PROFIT. after you pay your cards off that is.
Please try to understand how mining works before you type. The supply rate for bitcoins is fixed at 100,800 coins every 2 weeks so the price isnt going to increase with difficulty. Difficulty rises to offset the number of miners joining the network so that supply doesn't increase above the fixed rate.
You have to fight for your share of a fixed number of coins generated each period. As the number of miners grows that share will inevitably drop. Your $8/day share is going to drop every two weeks as the network grows. Unless there's an increase in the value of a bitcoin over time you wont be paying off squat anytime soon
You have to fight for your share of a fixed number of coins generated each period. As the number of miners grows that share will inevitably drop. Your $8/day share is going to drop every two weeks as the network grows. Unless there's an increase in the value of a bitcoin over time you wont be paying off squat anytime soon
Godmachine
[H]F Junkie
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100 mhash is low, maybe that's why you're not making much?
100 mhash isn't even worth it unless the power usage is practically zero. Even then that's just so fractional and when the difficulty increases it'll be even less worth it. Part of the reason Nvidia card owners aren't really encouraged to even bother doing this in the first place is the very low return considering the power consumed.
I wouldn't bother mining like that even in the long term , the price could drop , the difficulty could start going up. You can't expect to dedicate a single setup (unless you've got 2 6990's) and expect to cut a real profit from it ( I'm talking a NICE profit , not $150 a month). You either invest in this concept and plan to make from it otherwise its a pure curiosity and you shouldn't expect much if anything for a long time in profit at that kind of rate.
I'm pushing 950 mhashes and even with power costs I'll make a nice little monthly profit that I plan to use to fund my gaming habit this fall (I've got about $400-500 worth of games I want). I can't wait for the winter , fucking super heat waves ..
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master noran
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Please try to understand how mining works before you type. The supply rate for bitcoins is fixed at 100,800 coins every 2 weeks so the price isnt going to increase with difficulty. Difficulty rises to offset the number of miners joining the network so that supply doesn't increase above the fixed rate.
You have to fight for your share of a fixed number of coins generated each period. As the number of miners grows that share will inevitably drop. Your $8/day share is going to drop every two weeks as the network grows. Unless there's an increase in the value of a bitcoin over time you wont be paying off squat anytime soon
How does a fixed number of blocks and rising difficulty not result in a higher price per BTC over time? You should start putting IMO in front of every word so people don't take this crap as facts.
trinibwoy suggests that the laws of economics do not apply to bitcoins.
Spare-Flair
Supreme [H]ardness
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Because the bitcoin economy does not work with supply and demand like conventional currencies. There is overabundant supply with miners hoarding coins waiting for prices to rise and very little demand unless better exchanges and more POS accept bitcoins. The number of bitcoins released every month is exactly the same. Higher difficulty just means more people were mining and therefore everybody gets a smaller piece of the pie. The price of bitcoins has trended upward since 2010 but future performance is not going to be predictable as long as the currency's future and adoption remains ambiguous.
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Again, really happy this review was done! So, I'm going to build a new miner, this time going for multi-gpu (above 2x), obviously it's going to be ATI/AMD GPU - figured we'd go with the suggestion from this article = 6870's, specifically QUAD-GPU! Moved the build post here, so as not to clutter this thread.
-fnord0
-fnord0
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Rising difficulty is a DIRECT result of rising supply, by the BTC algorithm. It is made to negate the effect of the additional miners on the total output of BTC from the network. This = the same amount of BTC generated during one time period, and therefore no affect on the price.
Also- everyone stop mining. It is not profitable. You will lose money and kill gpus. Difficulty increases make it not worth it.
/force persuade
KOTOR reference? lol
Bitcoin mining is going to crash super hard. Its a matter of time. It was flawed to begin with. The difficulty level is getting higher and higher and harder and harder to mine this stuff. Not to mention I understand the reasoning behind the motivation for Bitcoin however its going to fail as predicted. There are so many security holes in the whole system that even MT Gox gets hacked almost weekly and virtual money stolen. Plus with all Fiat currency there is NOTHING backing this virtual money. And honestly I would NOT sell you or anyone a good or service for something that has no real world value. If you can assure me that 1 BTC is worth say ... 0.01oz of Gold and certify it then it becomes worth something.
The reason the world is in massive trouble is FIAT currency and BTC is another Fiat.
The reason the world is in massive trouble is FIAT currency and BTC is another Fiat.
No I'm suggesting that neither you or master_noran fully understand the bitcoin economy. Supply and demand for bitcoins does not depend on the number of miners in the network or mining difficulty. Even if there was only one miner the difficulty would be adjusted such that a single miner finds 2016 valid hashes in two weeks and earns all 100,800 bitcoins for the period.
Thank you.
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the difficulty is going up because so many people are out there trying to do it. When the coolness dies down and people arent making money anymore, they'll quit and the difficulty will self adjust.
The value is just like everything else. It's inherently based upon what others see it. The USD could become worthless if everyone abandoned it's use. It could take a wheelbarrow full of hunder dollar bills to buy a loaf of bread, It happened with the German mark.
It is what it is, and you either do it to get rich quick, or after the rush, you do it for a hobby, or an investment or hoping for luck.
Monkey God
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As planned. When people think its no longer worth it to mine, they will stop. The system will go on.
MtGox got hacked because MtGox sucks. Bitcoin itself is pretty secure. No one so far has actually hacked bitcoin, the only hacking going on is the fly by night websites who dont know WTF they are doing. Thats like saying the Dollar got hacked because Lulzsec hit a bank or something.
Bitcoins is like anything else, its only worth what people agree its worth. You think the dollar is backed by anything?
Dont put down something you dont understand.
I started late May, close to $20 a day but that was short lived. BTC value skyrocketed to like $25-30 back then, but quickly settled down to around $17.
People who started around March and April really cashed out good.
That's 100% true. The difference being that the dollar is accepted as payment by billions of people and is backed by the largest economy in the world while bitcoins are used to buy drugs on the Internet with no accountable central authority.
The lack of structure in currency markets isn't freedom. It's anarchy.
Nice.
If I didn't understand the economy why would I have made points about fiat. The dollar is worthless and backed by wait don't hold your breath, the Fed lol.
Trust in govt lol my ass I buy silver and gold and that is my real worth. Bitcoin is just a bunch of wasted energy that could be spent playing video games instead.
Why can't people just work for a living and earn money the rightly and actually produce gods and services. Bitcoin is not a good and its not a service.
What are you talking about? Where did I say anything even related to bitcoin economy?
All I said is that if mining at a rate of X is profitable, so is mining at a rate of 10X.
The same can be applied to almost any other productive activity. If giving 1000 blowjobs is profitable, then giving 10000 blowjobs is profitable as well.
That says nothing about the economics about bitcoin.
YOU on the other hand, HAVE made comments about the bitcoin economy and I have pointed that out. I never said anything else for or against your statements... although I do believe mining can be fun if you have the hardware already and don't pay for electricity.
Supply in demand of bitcoins has to do with more than the creation rate. You have to take into consideration the exchange volume as well. Personally I think as long as bitcoins remain unregulated, the demand will go up among money launderers. The result will be increased value, similar to why crack is so expensive when the production costs are relatively low.
Either way, I have no bitcoins, no mining, and am interested merely as an observer than a participant at this time.
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Monkey God
Mangina Full of Sand
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That's not the point. Yes, more people use the dollar, but the dollar is not BACKED by anything. Its worth whats it worth because we all more or less agree to it. And yes, some people use Bitcoins to buy drugs on the internet, but there's no such thing as dollars being used in the drug trade, nope, not at all. Shit, a sizable fraction of the entire South American economy is based on drugs and Dollars. You're comparing silkroad with the international narco business? UNREAL.
As far as bitcoin being unstructured and anarchistic...of course it is...its an emerging technology. Who knows what will happen with it. If you're scared of it, stay away and be quiet, nay sayer.
Spare-Flair
Supreme [H]ardness
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Keep in mind that 5830s will net you roughly the same or better performance and the [H]ard article was missing 5830s in that article. Newegg had 5830s last week for $129 (out of stock now, miners bought them all). The cheapest 6870 Newegg has is $175 and that's AFTER rebate.
Would it be worth it to get in today if I were just looking to experiment and perhaps make a few $$$ on a rig I would use anyway for gaming? I.E. I'm thinking of swapping my GTX 580 for dual 6970s. That way I can run my 6970s as miners overnight and such when I'm not using the computer/gaming. The price difference (after selling my old hardware) will only be about $175...
Spare-Flair
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Mining overnight with two 6970s will be about 800 m/H per second. If you mined for 12 hours day (overnight), you would get roughly 0.25 BTC/day at the current difficulty.
At currency prices (seem to be stabilizing around $13 USD/ 1 BTC), that would make you about $3.25 a night.
How much does your electricity cost? Including electricity and difficulty increases and mining pool downtimes (dual 6970s will suck for solo mining unless you are incredibly lucky), it will take you over 2 months to pay off that $175 in expenditure.
Wow. Thank you for the detailed reply. According to my July bill from Xcel Energy (I'm in MN):
Energy Charge Summer 1397.25 kWh @ $0.073630
EDIT: I used this calculator (http://bitcoinx.com/profit/index.php) and it appears that I should be able to make a $1/day profit pretty easily. Hehe. Either way, the geek in me is excited for new hardware and it's a small investment since my rig is already CFX-capable (900W 80+ Gold PSU) and the ROI on 6970s appears to be pretty good. I am a gamer first and I have a day job so this is nothing but something to tinker with and perhaps make my GPUs pay rent at my house.
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Wow. Thank you for the detailed reply. According to my July bill from Xcel Energy (I'm in MN):
Energy Charge Summer 1397.25 kWh @ $0.073630
EDIT: I used this calculator (http://bitcoinx.com/profit/index.php) and it appears that I should be able to make a $1/day profit pretty easily. Hehe. so this is nothing but something to tinker with and perhaps make my GPUs pay rent at my house.
By your calculations you'll make $30 or so a month? How exactly will that pay your rent?
Seems more of a headache to me, but thats jmo.