The sky is falling

M

mkrohn

2[H]4U
Joined
Apr 30, 2012
Messages
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Anybody actually thinking this? Instead of panic sells I'm just going to put my expansion plans on hold and lowball some people dumping hardware. Waves will happen and hopefully the price of parts will be driven down low enough that I can stock up for the next upward movement. I kinda feel like there will be massive hardware dumps happening as the weather heats up but possibly more people just trading coins instead of mining.

I believe once the weather gets cold again there will be a rush on "shovels" driving prices back up. I have to pull the trigger soon on however I'm planning on cooling my mining room
 
I want to pick up a replacement for the sole 5830 I have. I run all 69x0 series cards except that one. I'd really like to get my hands on a 7 gpu capable mobo setup so i can consolidate my rigs/power supply situation.
 
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I'm not selling any more GPUs. Already replaced the entire 7950 and 7970 fleet with 290s back when I could get ridiculous sums for the 79xx series and people didn't know how good the 290s were :D
 
mkrohn said:
Anybody actually thinking this?
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Not me. I'd never get anywhere in this hobby if I panicked every time the market did something I didn't like.

I planned for the inevitable day the market started to become less profitable by buying my hardware only when mining could pay for it. As a result, I'm not under any pressure to make ROI on 6+ video cards I couldn't afford to begin with. I may not have huge hashrate, but I'm happily in the black. I can wait for the market to rebound, many can't.

Next planned video card buy for me is next week. Onwards I go.
 
I'm still a ways out on ROI but I never gamble with money I can't afford to lose. As long as profits remain above my $0.08/kWh then I'll keep plugging away even if ROI is 2 years.
 
I just bought 3 290's a few days ago... I did it only because Newegg.ca had them in stock and at a price that I figured was acceptable. I want to buy 3 more, but I've been very nervous and it's kept me from pulling the trigger the past few days. I've been looking at profits lately too... not entirely awesome.

But I suppose I just have to keep telling myself that there is still profit to be made... and if not, I'll have 6 awesome gaming cards.
 
Oklahoma Wolf said:
Not me. I'd never get anywhere in this hobby if I panicked every time the market did something I didn't like.
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This.

edge929 said:
I'm still a ways out on ROI but I never gamble with money I can't afford to lose. As long as profits remain above my $0.08/kWh then I'll keep plugging away even if ROI is 2 years.
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and this.

Kinda goes back to whether your motives for doing this are purely financial, or if you consider it a hobby with some unknown payoff to keep it interesting.
 
I'm happy where I sit right now. I'm going to keep plugging along with my 9+ mH/s mining setup until it doesn't pay the electric bill.
 
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Not gonna stop Scrypt mining until Scrypt mining is completely unprofitable....



.... and that will never happen. ;)
 
Veeb0rg said:
I want to pick up a replacement for the sole 5830 I have. I run all 69x0 series cards except that one. I'd really like to get my hands on a 7 gpu capable mobo setup so i can consolidate my rigs/power supply situation.
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msi z77a-gd65
 
_r2h said:
msi z77a-gd65
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Maybe it's me, or that I was using Windows (both 7 and 8.1, both 64-bit), but I could not get the z87 version of that board to run the seventh card. And I tried just about everything (system wouldn't even post unless I disabled on-board video). The driver will install, but Windows will not run the device because it claims there are not enough resources. six cards works fine though in both Win7 and Win8.
 
I've done 6 on several Win 8.1 rigs, but I usually run out of Powersupply @7. :D
 
Why are y'all using win8? I just use bamt because it takes 5 min to burn a USB and another five to boot and copy in my configs. What does win8 bring to the table?
 
_r2h said:
Why are y'all using win8? I just use bamt because it takes 5 min to burn a USB and another five to boot and copy in my configs. What does win8 bring to the table?
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windows is way more comfortable for a lot of people, me personally I use Win7 since I like having the ability to remote into all my machines from anywhere to change pools or tweak things should I need to change pools on the fly .
 
_r2h said:
Why are y'all using win8? I just use bamt because it takes 5 min to burn a USB and another five to boot and copy in my configs. What does win8 bring to the table?
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At the moment, there's no CGWatcher for Linux.

Being able to use it in conjunction with CGRemote is really nice for remote managing and a quick view of whats going on.
 
Using Windows Server 2012 R2 myself.

And even if scrypt gets taken over by ASICs we still have Scrypt-n
 
yup -- I was thinking about that as well, if difficulty suddenly blows up to say something crazy like 50,000 then all of us "small" guys will have to go somewhere, the market would kind of create itself since you'd have all that computer power sitting idle.
 
collegeboy69us said:
windows is way more comfortable for a lot of people, me personally I use Win7 since I like having the ability to remote into all my machines from anywhere to change pools or tweak things should I need to change pools on the fly .
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Could always install teamviewer for linux.
 
I really really need to stop being a cheapass and just buy into the beta/whatever CGremote program. From what I've seen it would basically serve like a remote desktop but JUST for my miners, so no crazy bandwidth requirements of streaming the remote screen back to my main rig.

Monday will be fun, I have another 270 being delivered, as well as 2 more on order from newegg that should be here Wednesday. Loving the price breaks on some of these cards. I got this: http://www.newegg.com/Product/Product.aspx?Item=N82E16814127769

for 172 delivered after the promo and cashback via my creditcard/fatwallet.
 
collegeboy69us said:
yup -- I was thinking about that as well, if difficulty suddenly blows up to say something crazy like 50,000 then all of us "small" guys will have to go somewhere, the market would kind of create itself since you'd have all that computer power sitting idle.
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The people who made the most from scrypt coins were the people who kept their farms after bitcoin gpu mining died. Selling your farms is just short sighted. And now we can even see future coins like Vertcoin using Scrypt-n.
 
collegeboy69us said:
I really really need to stop being a cheapass and just buy into the beta/whatever CGremote program. From what I've seen it would basically serve like a remote desktop but JUST for my miners, so no crazy bandwidth requirements of streaming the remote screen back to my main rig.
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Can't bring myself to buy into software.
 
Spazturtle said:
The people who made the most from scrypt coins were the people who kept their farms after bitcoin gpu mining died. Selling your farms is just short sighted. And now we can even see future coins like Vertcoin using Scrypt-n.
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I do agree -- I just bought 7 more GPU's for my little operation. I'm quite proud as I'll be sitting on 7Mhash in less than a week (waiting on 3 more cards as of this writing)

5.5 cents per kwh delivered helps too :)
 
CGRemote is worth every single penny. Stuff like TV is just too heavy when you have a bunch of rigs up.

I can get all the info i need about my farm in 5 seconds and can tell immediately if a rig is down. The only thing that it doesn't do is it doesn't send a notification upon rig failure, but i hear he's working on that too.

As for all the "early adopters" of Scrypt that sold off their farms in the summer of last year... sucks to be them. This mining business requires faith in the long-term at minimum.
 
atp1916 said:
CGRemote is worth every single penny. Stuff like TV is just too heavy when you have a bunch of rigs up.

I can get all the info i need about my farm in 5 seconds and can tell immediately if a rig is down. The only thing that it doesn't do is it doesn't send a notification upon rig failure, but i hear he's working on that too.

As for all the "early adopters" of Scrypt that sold off their farms in the summer of last year... sucks to be them. This mining business requires faith in the long-term at minimum.
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I gave him $10 for mine and its been worth it. I am WORKING on something similiar but its a ways out. I'm still trying to get the data I want displayed properly then work it into ALL of my rigs once thats done. I have no use for windows rigs so I'll be doing something specifically just for the linux users. I will be doing LESS in the form of controls but more in the form of monitoring because that is more important to me than controlling crap
 
atp1916 said:
CGRemote is worth every single penny. Stuff like TV is just too heavy when you have a bunch of rigs up.

I can get all the info i need about my farm in 5 seconds and can tell immediately if a rig is down. The only thing that it doesn't do is it doesn't send a notification upon rig failure, but i hear he's working on that too.

As for all the "early adopters" of Scrypt that sold off their farms in the summer of last year... sucks to be them. This mining business requires faith in the long-term at minimum.
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It does that already. Mainly sends an email when the program fails to connect with the cgminer instance on whatever rig.
 
There's no point in dumping hardware now. The next crypto bubble all AMD cards will be sold out once again while 7950s will be commanding at least $200-$250. I will sell my used hardware and upgrade with whatever profits I may take then.

With that said, I may have to change my electricity plan. In the summer prices get hiked 20%. I can either go $0.16 fixed maxed tier rate, or I can do some kind of plan that charges $0.20 during 8 of the peak hours, and $0.09 during the other 16 in which I can run my miners. It works out fine since those 8 hours are the hottest of the day when it's usually around 100F, and I'm probably not going to want be running them during those hours anyway.
 
blade52x said:
There's no point in dumping hardware now. The next crypto bubble all AMD cards will be sold out once again while 7950s will be commanding at least $200-$250. I will sell my used hardware and upgrade with whatever profits I may take then.

With that said, I may have to change my electricity plan. In the summer prices get hiked 20%. I can either go $0.16 fixed maxed tier rate, or I can do some kind of plan that charges $0.20 during 8 of the peak hours, and $0.09 during the other 16 in which I can run my miners. It works out fine since those 8 hours are the hottest of the day when it's usually around 100F, and I'm probably not going to want be running them during those hours anyway.
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Don't know if you are in a house/apt, single/family... what I did that I'm very excited about is bought a 10,000BTU portable ac unit (the kind on wheels) Got a bitchin deal from lowes with a 10% off coupon combined with 5% discover cashback. Since it usually hits 100-110F here in Texas during the summer, not to mention my house has a lot of windows facing the sun in afternoon.... I will use portable AC to cool the master bedroom (where I spend all my time anyway) and let the rest of the house sit at 90. Power draw of the AC unit is only 900w and it will be on it's own circuit anyway. Beats running the whole house AC that will suck down 5000W+ to cool places of the house I never go. (1600sq ft 2 bedroom and I live alone) lol the spare bedroom is great place to stick the noisy 7970's at full tilt.

Those peak rate and sweet rate deals for the day can work out to your advantage... sometimes. Maybe there is already a calculator or something out there that can help, but always fun to build a little excel spreadsheet that helps you decide. In theory it's still profitable to mine even if you are paying the peak rate of 20 cents per kwh, but you have to factor in if you are paying for the cooling on top of that at the peak rate, might make the whole thing a wash.
 
What you may end up doing is just disabling the rigs for an hour or two in the afternoon when the rates are highest and the temps are highest as well. I'm on a time-of-day plan as well so I have a similar thing coming up, and I'm in Arizona so it's going to get hot as hell. Plus I have everything set up in the spare bedroom, which is the hottest room in the house because it's the furthest away from the AC.
 
so i redid my calculations for current pay rates and WOW apparently the sky is falling... I'm in position to only profit about $600/mnth by time I factor in the current power requirements.

Obviously as long as I don't have to do much to the rigs themselves it is worth keeping things plugged in but I apparently hadn't realized how bad things had gotten. I can see why so many people are running away right now. I was about to drop some money on cooling the room but what I might do instead is all of the cards under warranty just sealing them up in that room and letting them run with a high ambient temp and just space them as good as I can. I'll remove the box fans and just put a blower in to pump the air to the outside.
 
It's only like this because of Gox and the fact that 700k coins are still unaccounted for.

Noone is gonna buy up to have the rug pulled out from under them.

The market will rocket back up once there is closure to the whole Gox fiasco.
 
atp1916 said:
It's only like this because of Gox and the fact that 700k coins are still unaccounted for.

Noone is gonna buy up to have the rug pulled out from under them.

The market will rocket back up once there is closure to the whole Gox fiasco.
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yeah I know, but I still have to cash a certain amount out for power expenses and at this point its getting awfully close to half of whats mined by time you factor expenses in
 
atp1916 said:
The market will rocket back up once there is closure to the whole Gox fiasco.
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Doubtful.

Gox isn't the reason BTC is still low much less the whole market being tied to anything about Gox.

Will it stay low? Maybe... maybe not. Will the alt coin market recover? Probably not. I think the market has already picked its winners and those will be the ones that prosper. The rest of the market will die a slow death.
 
Carbon_Rod said:
Doubtful.

Gox isn't the reason BTC is still low much less the whole market being tied to anything about Gox.

Will it stay low? Maybe... maybe not. Will the alt coin market recover? Probably not. I think the market has already picked its winners and those will be the ones that prosper. The rest of the market will die a slow death.
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I think this is spot on. Most of the coins with communities seem to be doing well, DOGE/LTC/etc. Most of the multipools that share their coin base spend most of their time on DOGE/LTC anyway. I'm already contemplating my move to scrypt-n/jane.
 
What coins are you able to still even make money on running video cards for hardware? Seems to me the cost of electricity eats away any little profits, unless you happen to have free electric.
 
centex99 said:
What coins are you able to still even make money on running video cards for hardware? Seems to me the cost of electricity eats away any little profits, unless you happen to have free electric.
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I am currently only making 5-6$ a day atm after power costs. I don't think I will be buying any new hardware to next year. I see this as a hobby to make some extra bucks so at this point I am gonna ride it out to the end as I have very little invested atm. I might try to snatch up one more 290 so I am running with 3 290's and 6 750Ti's. 2 290's are in my gaming computer. So even if mining does die, I won't sell those. The other 290 will go into my G/F's computer.
 
Yeah my profit is around $8-9 per day running just over 3mh. That's about 3 times my power cost. I'll keep riding my GPUs until it's no longer profitable. Hopefully by then I will have made ROI.
 
If I didn't have cheap power, and hadn't already made ROI, I probably wouldn't still be mining.
 
What are you people mining to make any sort of profit? It doesn't seem like LTC even breaks even at this point, unless you have really, really cheap electricity.
 
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