"Folding" for profit, not fun - Bitcoin

[davidcrofter]

my 2p is this.

the sweet cards to look at with a price vs return would be the likes of the 5830's which are dirt cheap at the moment or 5850/6870/6950 - although someone will disagree. or hey if no leccy bills are paid why not build a crossfireX rig and get some insane hash rates.

in regards to the leccy, nothing dodgy is it? like............................plugging in to next door lol.

if you pay absolutely no leccy then the coins are sort of free per se. but the price of coins dropped not so long ago with a hacked account which lead to a run and the price plummeted from $20odd and hasn't recovered that well - currently 1btc is worth £8. and as the difficulty goes up the harder it becomes to make a decent return - se my post above ref 6+ day block.

in short, no bills..........go for it

or with bills..................a double edge sword

Cheers - nothing dodgy re- the electricity, just seems that when I moved in to this apartment I bought a fridge from a shop and it gave the offer of changing my electricity provider .... seems they have forgot about me as I have never had anything from them apart from a "Welcome" letter and that was about 8 years ago .... so free so far.

Would you say a single 5830 or a pair of them in crossfire would be the best bang for buck??

[SuicidaL]

well i use a single 6870 and that is nearly 60% paid for. it depends on the hash rate you get and other variables like difficulty etc and i've no idea with xfire with regard to mining - others do it so may glean some info. 5830's were good because the price came right down on them but they are getting rare as the proverbial rocking you know what, there is one in the for sale section @ £85. ocuk - spit spit, have a sapphire 5850 for £126 which is pretty good and again the 5850 is getting hard to get hold of.

or you could look on the bay for a good second hand 5850 or 5870 or then a 6870 or 6950. it depends on how much your willing to pay i suppose.

[jim]

I think right now you'd have to be insane to build a mining rig, to be honest.

Judging by my sums, you'd be lucky to get £1.50 per day from a 5870, after taking into account electricity. For a 5850 or 5830 that's only going to decrease.

If you buy it for £100 we're talking approximately 60 days to make back what you paid for it, and that's assuming there are no difficulty increases. In all likelihood there will have been four difficulty increases over that period and your profit per day will drop each day. Then you've got the heat and the noise, which at this time of year isn't particularly enjoyable. So you're putting up with all of the downsides, for the overall benefit of £1.50 per day. Not to mention each hour that you spend setting it up or tweaking it is effectively more profit gone down the pan.

I came very close to shutting down my miners today... I certainly wouldn't be starting up.

[Golden Dragoon]

Cheers - nothing dodgy re- the electricity, just seems that when I moved in to this apartment I bought a fridge from a shop and it gave the offer of changing my electricity provider .... seems they have forgot about me as I have never had anything from them apart from a "Welcome" letter and that was about 8 years ago .... so free so far.

I can't imagine the bill you would get if they figured out that you existed.

[rox0r]

It's too late to be jumping on the bandwagon now unless you already have the hardware, investing in mining rigs now is pointless.

[marshalex]

The only way to really start now is if the price of coins rise dramatically. At current Market rates starting now isn't worth it. Probably going to pack it in at the end of this block and use the computer for the purpose it was designed for, gaming!

[jim]

And just to add, that seems fairly unlikely. Since the spike at $30 per coin, it has been very steady at $13-15. No sign of an increase any time soon.

[Caesium]

well i've made the concious decision to abandon this block - 6+ days and no end in sight, and i can't get above a 0.59 return so likewise has obliterated the profit made from the last block.

a lot of new workers hasn't really helped, looked just now and there is 163 workers @ 16.88Gh/s.

now i don't know if it's just an anomaly of the server/site but how can someone with just over 26000 shares be above the likes of kev and myself with 37000 & 32000 and have a higher return while not mining...........sort of me off if that's correct.

Yes, this block is kinda killing us, our luck from the first few blocks is now biting us in the ass.

As to the guys with less shares getting more BTC, they are on PPS. In long blocks, you'll generally do better with PPS, and in short blocks, you'll do better with Proportional. As someone else has mentioned PPS is a guaranteed steady income, whereas on proportional you earn more when we have short blocks, and less when we have long ones. PPS removes that uncertainty for you.

You can't change between the two systems mid-block (since that would be open to abuse) but you can make a new account and start that on PPS, if you want.

Oh, all the new workers are mostly a CPU mining guy by the way, he added a bunch of workers but not much GH/s - so the workers jumping from 70 to 250 or so didn't really affect the reward splits to any great degree.

All the new anonymous users are because the account preference defaults to anonymous, I don't think most of them even notice it. I've set the default anon setting to off now.

[badass]

And just to add, that seems fairly unlikely. Since the spike at $30 per coin, it has been very steady at $13-15. No sign of an increase any time soon.

For the price to go up, non geeks need to sustain an interest. With the current client, that isn't going to happen.
Someone who finds out about bitcoin and is just intelligent, rather than really into IT will need to be able to set themselves up, buy bitcoins, wash them, purchase some drugs/gamble those bitcoins and be convinced their bitcoins are safe.
Inside of 1/2 hour.
Then there needs to be another load of media coverage.

[badass]

For the price to go up, non geeks need to sustain an interest. With the current client, that isn't going to happen.
Someone who finds out about bitcoin and is just intelligent, rather than really into IT will need to be able to set themselves up, buy bitcoins, wash them, purchase some drugs/gamble those bitcoins and be convinced their bitcoins are safe.
Inside of 1/2 hour.
Then there needs to be another load of media coverage.

IMHO, bitcoin is going to fizzle out into nothing, though it's death will be long and protracted. There will be a large number of early adopters that wish they had cashed in when their coins were worth a few hundred thousand $

[Caesium]

Yes, this block is kinda killing us, our luck from the first few blocks is now biting us in the ass.

Finally! Block found! Was getting worried

[KBundy]

Marshalex,

What did you do to go about solving your cooling problems with your 6950 graphics card? I also have XFX Radeon 6950 graphics cards and cannot find waterblocks to fit them. Someone suggested the EK-FC6870 because the 6870s have an almost identical PCB. However, I contacted EK and they were hesitant to recommend them as there were "a few chips that made him feel uncomfortable."

Thanks for anything you can help with.

-KBundy

[marshalex]

Marshalex,

What did you do to go about solving your cooling problems with your 6950 graphics card? I also have XFX Radeon 6950 graphics cards and cannot find waterblocks to fit them. Someone suggested the EK-FC6870 because the 6870s have an almost identical PCB. However, I contacted EK and they were hesitant to recommend them as there were "a few chips that made him feel uncomfortable."

Thanks for anything you can help with.

-KBundy

my problem was with the screws on the heatsink not being tight enough and making a noise. no problems otherwise

[Moby-Dick]

http://launch.is/blog/bitomat-loses-...coin-cris.html

seems worrying...

[Agent]

In theory that should increase the value though if supply < demand....lets see if the market reacts

[SuicidaL]

http://launch.is/blog/bitomat-loses-...coin-cris.html

seems worrying...

that's just fecking great, due to cock up i may/may not - but more than likely lost 4btc which seem unlikely to re-appear anytime soon. had been in the process of transfering then, but due to the new sprog i haven't really been anywhere near the pc much. so am now in the loss zone and unlikely to start again unless things improve.