Anyone mining bitcoin?

[Exodus2K]

Don't under estimate the electrical bill when you have more than a few machines each housing a few GPUs doing the mining. They will all be running at 100% load. Beside the electricity consumption from the machine, your aircon bill will go up too, as it will need to work much harder.

You can use the Profit Calculator to estimate CoinWarz - Crypto Currency Mining Profitability how long you need to recover your hardware. If you have free electricity, just enter 0 for power cost.

Litecoin is slightly more profitable than mining Bitcoin directly for GPU mining.

 

[Maeda_Toshiie]

Is it actually profitable to mine with a stack of 7970s? The equipment cost is already in the range of $2000 or more.

 

[Preety]

Is it actually profitable to mine with a stack of 7970s? The equipment cost is already in the range of $2000 or more.

Nopes..7970 are not profitable at all...

Check out the analysis i did for litecoin

Card K#/S Price K#/$
7950 684 319 2.144200627
7970 750 399 1.879699248
7990 2200 1400 1.571428571

so from a price perspective, 7950 is the best.

 

[Preety]

Don't under estimate the electrical bill when you have more than a few machines each housing a few GPUs doing the mining. They will all be running at 100% load. Beside the electricity consumption from the machine, your aircon bill will go up too, as it will need to work much harder.

You can use the Profit Calculator to estimate CoinWarz - Crypto Currency Mining Profitability how long you need to recover your hardware. If you have free electricity, just enter 0 for power cost.

Litecoin is slightly more profitable than mining Bitcoin directly for GPU mining.

Well, there is a slight margin...

Assume the Litecoin Price 3.3
with a 3 GPU Setup you get aroun 3.71 Litecoins/Day....so to break even on a 2500 Rig, it will be about 7 months...
with a 2 GPU Setup you get aroun 2.5 Litecoins/Day....so to break even on a 2000 Rig, it will be about 8 months...

All analysis is excluding electricity cost...and yes the price of litecoin fluctuations needs to be considered as well.

 

[Middle-C]

some help here!
Isit just open the litecoin and bitcoin programme?
I'm out of blocks to farm. How do I get more blocks to farm?
Interested to build a spare rig to farm. itx build possible?

 

[zero7090]

Well, there is a slight margin...

Assume the Litecoin Price 3.3
with a 3 GPU Setup you get aroun 3.71 Litecoins/Day....so to break even on a 2500 Rig, it will be about 7 months...
with a 2 GPU Setup you get aroun 2.5 Litecoins/Day....so to break even on a 2000 Rig, it will be about 8 months...

All analysis is excluding electricity cost...and yes the price of litecoin fluctuations needs to be considered as well.

For 4x7950 2.6 mhash setup you only need $2k. It will give you 4.3 ltc/day or $16.39 /day or $ 491.7 per month.

In additional, you forgot that you can sell those GPU as 2nd hand. Also as the price fluctuate, you can trade between bitcoin, litecoin and other alternative coin to gain profit.

Speaking of which, i wonder if any stock trader here would take interest in this as the market are very easy to manipulate, full of noob panic sell, panic buy.

p/s: If anyone is sceptical and doesnt want to invest too much into crypto currency, i suggest you get 3x7950, build them as gaming rig then use them to mine coin when you go to work. The revenue should be already enough to cover your house utilises plus internet bill. That is already a win.

But its still slower than using ASIC. I think I saw a company releasing bitcoin mining machines. USD 2499 for a 3.5GH machine.

ASIC is still extremely rare. Buttfly lab set up pre order in 2011 and still havent ship anything.

 

[Preety]

For 4x7950 2.6 mhash setup you only need $2k. It will give you 4.3 ltc/day or $16.39 /day or $ 491.7 per month.

The cost of such rig will be higher....

a basic 7950 costs about 418 SGD..that itself gets the costs to 1672...and you would certainly need to have a power supply atleast 1200W...add another 375 SGd..that gets you to >$2000

 

[Taengoo]

Hi spawnXp! Do count me in. Maybe create a whatsapp grp on this first?

 

[SpawnXp]

Hi spawnXp! Do count me in. Maybe create a whatsapp grp on this first?

u can contact archcherub
think he's interested too.

 

[zero7090]

The cost of such rig will be higher....

a basic 7950 costs about 418 SGD..that itself gets the costs to 1672...and you would certainly need to have a power supply atleast 1200W...add another 375 SGd..that gets you to >$2000

850W single rail can run 4x7950 just fine, 1200W is for 5x7970

 

[zero7090]

15/5 update: BTC and LTC price mass panic sell. Time to stock up guys.

 

[terence52]

15/5 update: BTC and LTC price mass panic sell. Time to stock up guys.

Interesting. Thanks for the heads up.

 

[zero7090]

Let play a game guessing if next pump wil be over $130

 

[terence52]

Let play a game guessing if next pump wil be over $130

I will say maybe in a few days. Price dropped below USD100 liao. Now at 99.5

 

[SpawnXp]

I will say maybe in a few days. Price dropped below USD100 liao. Now at 99.5

im still seeing 104 via mt.gox

 

[terence52]

im still seeing 104 via mt.gox

I am using BTC-E. Now up to 102 liao.

 

[SpawnXp]

I am using BTC-E. Now up to 102 liao.

okie thanks

 

[Exodus2K]

Can read about this guide, https://bitcointalk.org/index.php?topic=163306.0, on how to setup your hardware... you will need some PCI-E extender so that the graphics card have a little bit of breathing space.

The setup is going to generate a lot of heat and noise. So if you are thinking of running this thing discreetly (such as tapping on some free electricity somewhere), then this is a reality check for you too.

 

[Boltstorm]

are those risers (powered or non powered) available in sg?

 

[Kiwi8]

are those risers (powered or non powered) available in sg?

Can order from eBay for cheaper price than at brick-and-mortar shops.