Radeon 5870 prices have gone insane

price dropped to 0.01 per coin from $17.5 peak yesterday due to hacking activity, expect more of these cards to flood the market as ppl quitting mining business.
 
We really went OT on the topic, lets try and steer it back.

People who have 5xxx series cards should cash out right now while the market is hot, because the 6xxx offers better gaming performance, lower power usage, and are newer so should hold their value better.
 
tangoseal said:
I hope governments crack down and eliminate bitcoin mining. Its stupid, its inflationary, and its going to ruin a lot of people's finances.

The system is absolutely retarted. There just shy of 7 billion people on earth and they only allowed 22 or so million bitcoin to be generated before the system is maxed out. What the hell is that kind of thinking. Now look at people putting 10 computers in their house, with 4 6990s in each machine, paying 500 a month in electricty, making the demand for power higher, making the power plants work harder, causing my bill to go up when I dont mine for this crap, and then they wonder why you need all this increasing amount of hardware. Just get a fucking real job people and earn money like I and the rest of us do. I will be LOL so damn hard when people actually start committing armed robbery and suicides over bitcrap.

Dont get me started on how these same people gleefully drive their smart car or honda hybrid zip car crap around town thinking they are the next best thing to tofu for the environment but go home that afternoon and power on the 10kw server farm thinking they are going to get rich. LOL @ these people. Do they have any idea how much they are wasting in energy whether or not they pay for it or not. I bitcoin mined for 48 hours on 3 6970's and I got a whopping 1.1 bitcoins in a pool. My office was hot as hell, like 101f, and I said no more this is stupid as shit.

Its also pissing me off because my fucking 6990 is on backorder still after a month +. And thats CDW. That damn place moves a lot of hardware.

And to boot I just had one of my 6970's boink on me and I cant warranty it because the damn thermal pads ripped so bad when I removed the heatsink to h2 cool it.
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I totally agree with you. I am just in it for some profit hopefully.

I can't wait until mining becomes near unprofitabe so I can get rid of this shit.
 
Wow didn't mean to start all this lol I was just wondering if there is somthing about the 5000 series that makes them better than the 6000's? as it seems like 6000 series cards are still at normal prices.
 
5870 has 1600 shaders and 6970 has 1536. You get more productivity thanks to the extra 64 shaders. Thus the price increases. 6970 is still in retail so the prices will not fluctuate though that cannot be said for the 5870.
 
The only people who truly get to cash in on Bitcoin are the pool operators. If you look at some of the pools you'll see that they rake in 6 figures (if they managed to convert all those BT to real $$$).
 
What's the point of bitcoins and spending real money "mining" them?
 
jimbean21 said:
What's the point of bitcoins and spending real money "mining" them?
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Because for the longest time you could sell a coin for more than it cost to mine a coin, if you only count operating and not capital costs.
 
You people need to get out of the house more often... there's a real - non internet - world out there.
 
jimbean21 said:
What's the point of bitcoins and spending real money "mining" them?
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At this point I wouldn't spend anymore money doing it, but a few months ago you would be making around 5-6 bitcoins a day doing this. Now I am lucky to make .3, anyways it was a good run while it lasted(already cashed out) now to get back playing games.
 
their prices are dropping now. ebay has them going for 250-270 now.

it coming down from the 300 range now. with ebay and paypal fee's seller is prolly only get around 230-240.

So if you have one you want to get rid of now is the time, unless the craze picks up agian which i don't see happening./
 
I was bitcoin mining for a few days and it was cool to generate a profit from my computer.

But when it comes down to it, the energy that's spent mining bitcoins is wasted. Let's say bitcoin mining goes mainstream and everyone does it. Suddenly every household is burning an extra couple hundred watts of energy for the purpose of distributing new bitcoins.

I'm no hippy, but that's a waste of resources. I won't be a part of it, even if it means I give up some real money in profit. We do enough to hurt this world without going out of our way to burn energy for nothing.
 
After finishing the thread, I was beginning to think your local electric company was behind the master plan of increasing profit by tricking computer nerds into running their computers on full load 24/7. At least F@H has a purpose... I wish those work units were worth something :p
 
Cowboy420 said:
+1 to this.
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funny. coming from guys with like 1000 posts.

the irony of it is bitcoin mining requires little to no attention. and since my cards are so busy mining i'm not really gaming as much so i'm actually out cycling and running more often.

also been doing a bit of gardening this year too!
 
kcmastrpc said:
the irony of it is bitcoin mining requires little to no attention. and since my cards are so busy mining i'm not really gaming as much so i'm actually out cycling and running more often.

also been doing a bit of gardening this year too!
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As weird as that sounds, same for me. Single digit gaming hours per week since starting to mine, who would have thought.
 
kcmastrpc said:
funny. coming from guys with like 1000 posts.

the irony of it is bitcoin mining requires little to no attention. and since my cards are so busy mining i'm not really gaming as much so i'm actually out cycling and running more often.

also been doing a bit of gardening this year too!
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honestly this is my excuse for mining, I won't be able to sit around and play BC2 all day. I can do things, like STUDY for school for a change :D

the power issue is legitimate but if you think of bitcoin as a political movement then it may be worth it. Besides, i'm sure someone has already setup a huge server farm in Nebraska or Washington (where power is cheapest).
 
bitcoining reminds me of that recent episode in southpark where they make money off of crack baby basketball, you may find ways to justify it, but in the end it is still wrong.
 
nalc said:
Funny to see someone with well over 100 posts who hasn't even been here for 4 weeks bust on someone who has 800 posts in 6 years.
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i just find it humorous that people bring the RL card far too often on forums which are inhabited primarly by computer geeks.

glass houses, etc.
 
bigpimpatl said:
the power issue is legitimate but if you think of bitcoin as a political movement then it may be worth it. Besides, i'm sure someone has already setup a huge server farm in Nebraska or Washington (where power is cheapest).
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There are many places around the world where power is much cheaper than in the u.s. ...
 
Why don't the people mining use bitcoins to buy their 5xxx series GPUs?
 
I stand my ground. I lol @ bitmining.

If you share with me how you generated 160 in 4 days, I will transfer coin to you. I know how to mine. I have a ton of servers and hardware at my disposal. I like what it stands for on the freedom from govt.front but right now I am genuinely pissed hqve to wait until July to get my card.

So I blame bitcrap mining on the lack of my card. And I will have 2 6970 and 1 6990 so I can mine line q champ if I wanted too.

And I will close with..... U have the right to use all the power you want and use your hardware mining but I have a huge chip on my.shoulder because you people r screwing me for my enthusiast game card.

Typed on my 4G badass phone.
 
$160 in 4 days is $40 per day. At the peak of the MtGOX market that was roughly 1.3-1.5 coins per day
 
tangoseal said:
I stand my ground. I lol @ bitmining.

If you share with me how you generated 160 in 4 days, I will transfer coin to you. I know how to mine. I have a ton of servers and hardware at my disposal. I like what it stands for on the freedom from govt.front but right now I am genuinely pissed hqve to wait until July to get my card.

So I blame bitcrap mining on the lack of my card. And I will have 2 6970 and 1 6990 so I can mine line q champ if I wanted too.

And I will close with..... U have the right to use all the power you want and use your hardware mining but I have a huge chip on my.shoulder because you people r screwing me for my enthusiast game card.

Typed on my 4G badass phone.
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My payouts from btcguild:

2011-06-13 04:19:23 167FPiF8VgzFcLEq33mwKTS8qsuDzR3Luq 3.71
2011-06-15 22:21:05 1PAZkBd4JmVyGidxQAUT2GiAxTS7BJrECD 3.20

Screenshot of my Dwolla account:

dwolla.png


Go verify the transactions if you want. Price was over $20 per bitcoin when I sold.

I've got another 7 bitcoins just waiting to be cashed out too. So basically, I got a free reference 6950 that I unlocked to 6970 to go Trifire with. You got nothing for "loling" at me.

I didn't spend a dime with this mining rig. I already have 6970's in xfire for gaming, so I literally got it for free. My electricity is free.

You can send me my coin to wallet 1CDv3Do9jmULjs9s81vdWU5XUPQBeeAFBA.
 
magoo said:
Why don't the people mining use bitcoins to buy their 5xxx series GPUs?
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I did.

Had a 5870 lying around + few days of mining was enough to buy a 5830. The rest is profit & see about increasing difficulty curve vs. bitcoin value.
 
# Total Posts: 971
# Posts Per Day: 0.45 - over 6 years time.

You have over 10% over my post count in 1% of the time.

Eat me.
 
Pissing contest aside, bitcoin mining is good fun...... it's the closest us plebs will ever get to the true 'Ben Bernanke' experience :p
 
computerpro3 said:
Wanna bet? Was about a week ago during the last difficulty period. Do the math. Sold at $20 per bitcoin.
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https://en.bitcoin.it/wiki/Mining_hardware_comparison

Unlocked/OC HD6950 does ~400 Mhash/s so x2 would be ~800Mhash/s

http://www.alloscomp.com/bitcoin/calculator.php

Using that calc @ $20/btc and a difficulty factor of 877226.666667 (which is the latest I think)

You'd make around $18USD/day (not counting electricity) unless if you are part of a mining pool..but a mining pool won't double your btc production :)
 
bigpimpatl said:
honestly this is my excuse for mining, I won't be able to sit around and play BC2 all day. I can do things, like STUDY for school for a change :D

the power issue is legitimate but if you think of bitcoin as a political movement then it may be worth it. Besides, i'm sure someone has already setup a huge server farm in Nebraska or Washington (where power is cheapest).
Click to expand...

Please elaborate on the suggestion of having us look at bitcoin as a political movement. A political movement at least has some purpose even if it's a distraction from a bunch of lies. bitcoin on the otherhand... is promising a big lie. Well I guess I walked into that one.
 
Daemos said:
https://en.bitcoin.it/wiki/Mining_hardware_comparison

Unlocked/OC HD6950 does ~400 Mhash/s so x2 would be ~800Mhash/s

http://www.alloscomp.com/bitcoin/calculator.php

Using that calc @ $20/btc and a difficulty factor of 877226.666667 (which is the latest I think)

You'd make around $18USD/day (not counting electricity) unless if you are part of a mining pool..but a mining pool won't double your btc production :)
Click to expand...

Give me one good reason to spend $18USD to buy a virtual bitcoin.

edit: If you can't give me a legitimate reason, I don't see why the next fool would.
 
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no good reason to buy coins at $18 right now, but you should be able to snag a few coins at $15, and sell them when the price goes above $20.
sorry I don't have any better reasons other than making $5 per coin :)
 
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