"Folding" for profit, not fun - Bitcoin

[Rob_B]

..and thats why it seems best to store in your wallet until you want to sell (although you can miss a decent price perhaps while waiting for confirmations!) although saying that I've got my 1.4BTC (woo!) stored in an exchange awaiting a decent price.

[kevpuk]

Britcoin down to ~7.6 now.....sold my last 5~odd @ 8.6 - hap been holding out for 9+ but decided it wasn't gonna get there.
Mind you, have now banked £97.04 towards my £99.99 5850 (excluding electricity), so - on the whole - am happy with that.
Will keep going, for the time being - bit gutted the last rfc block turned up Invalid, but hey-ho....

[badass]

Who here thinks that these price drops are simply the bubble deflating?
I'm firmly on the yes side of the fence. Tht's not to say there will not be some bear traps on the way down but I think bitcoin's fade into obscuirty is extremely likely.
That's 2 months of electricity and a Radeon 6870 Vapor-x paid for in full and an XFX 6870 at just over half price. I'll keep 4 bitcoins back and keep generating coins and trading them whilst they are worth more than electricity.
I do laugh a bit at the over excited people predicting with near certainty that bitcoins would hot $10,000 or even more over the next few years but it's easy to get caught up ni the mania.

[kevpuk]

Who here thinks that these price drops are simply the bubble deflating?
I'm firmly on the yes side of the fence. Tht's not to say there will not be some bear traps on the way down but I think bitcoin's fade into obscuirty is extremely likely.
That's 2 months of electricity and a Radeon 6870 Vapor-x paid for in full and an XFX 6870 at just over half price. I'll keep 4 bitcoins back and keep generating coins and trading them whilst they are worth more than electricity.
I do laugh a bit at the over excited people predicting with near certainty that bitcoins would hot $10,000 or even more over the next few years but it's easy to get caught up ni the mania.

Could be.......I suspect it is too early to tell just yet. Besides, as the price drops (now circa. £6.50 per BTC on Britcoin) we may see speculators purchasing and the value therefore going back up.....

I echo your sentiments, though, I - more or less - have earned myself a nice new 5850 to replace an aging GTS250, so anything else from hereon in is a bonus

Will keep chugging away for now.......

[jim]

Wow.

I bailed a few days ago, when my profit had dropped to £3 per day - with the heat and noise, it just wasn't worth it for me. Can't believe it has continued to drop from there.

Surely you can't be making much on them now?

[MadduckUK]

some days i don't bother turning the main cruncher on now, and when im there i only do it on 1 GPU because of the heat and resulting noise of two. If it was winter i would be far more inclined to continue properly.

[badass]

Wow.

I bailed a few days ago, when my profit had dropped to £3 per day - with the heat and noise, it just wasn't worth it for me. Can't believe it has continued to drop from there.

Surely you can't be making much on them now?

Just worked it out. 27p per day after electricity paid for. I thought it was a lot more than that. I think I'll leave the client to run when the computers are on but I'll not bother leaving them on any more. It's no hassle leaving the clients running when the PC's are on and maybe I'll check my bitcoin balance at some point a few months in the future and find out I have some free spare cash.

[kevpuk]

Hhhmmm, overall worth is not so good now, agreed.....tbh, mine has been left on 'just because' and also a bit of torrenting going on - I suspect the time to stop is coming, though

[badass]

And the bubble is properly deflating now.
In worked out that if I use the client only when I would be using the PC anyway, theoretically, I would be making money. However that amount of stree on the GPU with it heating up and cooling down so much simply isn't worth it.
I'm glad I sold my last 4 BTC before the latest price collapse though.

2 GFX cards for less than half the price of one!

[jim]

So, if that's it, how have we all done? Satisfied with your ventures?

I've just done all the maths...

I bought 3 5870s, plus a few bits to go with my spares and cobbled together two mining rigs, in addition to the 5870 already in my desktop.

Having sold off all the hardware now, my total investment after sales was approx £160. Spending on electricity was approx £130.

So,

Total spending = c. £300
Total income = c. £1130
Total profit = c. £830

Can't complain

[rox0r]

Well I retired my 5850 from mining and took it back to just the 6870 doing a bit here and there. More than anything it was the noise that was getting on my nerves, I bought a couple of Gelid Icy Vision Rev 2 aftermarket coolers for both cards to quieten them down during mining but one has an insanely annoying 'rattle' on one of the fans. I refuse to spend any more money on the 'operation' when profits are falling so I'll sell the card off and call it quits for multi-GPU mining.

I've made around £250 profit so far so I'm pretty happy all in all so the trickle of free money from the single 6870 is always welcome.

Annoyingly, before having 2 x GPU on the job I never got the 100% cpu 'bug' so I thought I'd be going back to nice cool and quiet CPU while single card mining but the damned thing still does it with just the 6870 now. Must be a side effect of having had more than one GPU in, I'm not re-installing Windows for that so sod it I'll live with it for now tiil ATi can sort the 'bug'.

[MadduckUK]

Well I retired my 5850 from mining and took it back to just the 6870 doing a bit here and there. More than anything it was the noise that was getting on my nerves, I bought a couple of Gelid Icy Vision Rev 2 aftermarket coolers for both cards to quieten them down during mining but one has an insanely annoying 'rattle' on one of the fans. I refuse to spend any more money on the 'operation' when profits are falling so I'll sell the card off and call it quits for multi-GPU mining.

I've made around £250 profit so far so I'm pretty happy all in all so the trickle of free money from the single 6870 is always welcome.

Annoyingly, before having 2 x GPU on the job I never got the 100% cpu 'bug' so I thought I'd be going back to nice cool and quiet CPU while single card mining but the damned thing still does it with just the 6870 now. Must be a side effect of having had more than one GPU in, I'm not re-installing Windows for that so sod it I'll live with it for now tiil ATi can sort the 'bug'.

cap your cores in CCC - Power - CPU Power. i stick mine on 2700 and it stops my H50 fan needing to become audible.

[kevpuk]

RIP rfc ?
Hoping I see my .55~ BTC that was accruing in the last block.....

[kalniel]

Seems some crooks might want to minecoins on hijacked computers/cards:
http://www.theregister.co.uk/2011/08...brute_forcing/

[MadduckUK]

crap article, crap crap crap

[kevpuk]

well, received my final payout from RFC, and happy with that....shame it is no more, but hey-ho