Anyone mining bitcoin?

[zero7090]

as title, anyone having 79xx farm at home as passive income source?

 

[rhizopus]

how does it work? you earned any?

 

[incesto]

you bought cheapo mobo,cpu, ram and 5 79xx card, 1200W PSU and let it mine 24/24. Minus electric cost 1 day can earn about $30 depend on the price of BTC.

If you want to earn big you can play trading between bitcoin, litecon and other crypto currencies. Just like trading forex and stock but the fluctuation is really high. 1 day PPC cost 0.002 BTC, the next day it can jump to 0.03 then down. Those who sold 20000-50000 PPC earned like 80k-200k USD over night.

 

[Entry Level PC]

Not worth it lah.
You are trading electric fees for bitcoin.
Bitcoin price heavy fluctuation some more.
Sudden surge these few months only.
Before that was sibei expensive where electric fees > bitcoin value
Only recent surge made it bitcoin value > electric fees
But nobody knows how long that will last as well.

want to make money don't mine bitcoin go trade bitcoin.

 

[zero7090]

Actually since 1 year ago, when btc = $10 it is already feasible to mine. Just that the profit is quite small for a 3.5 gh rig. However there were other coin worth investment like ppc ltc.

Cyprus bank bailout made btc rocketed from $50 to 140

 

[escksu]

Nay, not worth unless you don't have to pay for electricity. Cause the power consumption is even higher than payout.

Btw, bitcoin heavily favour AMD cards.

 

[zero7090]

you sure or not? my payout was always higher than my electric bill since last year.

 

[The Big Bang Theory]

letting GPU at full load won't shorten it's lifespan meh? later need to change GPU

 

[escksu]

letting GPU at full load won't shorten it's lifespan meh? later need to change GPU

Thats why you don't use your current GPU to do bitcoin mining. Use old gfx cards. I used to have a 5870 for that purpose. But returns very little so I stop after around 3 months.

 

[escksu]

If you really want to earn $$$ from bitcoin, its not impossible. Its a feasible option actually.

But...... SG...... sigh.... If I have some land, I will build a solar/wind array to power all my bitcoin machines. Then no more power issues.

I am talking about DIY, as cheap as possible power generator. Not a problem for me. But I don't have any space for that in SG.

 

[The Big Bang Theory]

Thats why you don't use your current GPU to do bitcoin mining. Use old gfx cards. I used to have a 5870 for that purpose. But returns very little so I stop after around 3 months.

Then u wanna play game how? Change back to ur current GPU

Or u using spare rig to farm?

 

[zero7090]

letting GPU at full load won't shorten it's lifespan meh? later need to change GPU

people have been running 58xx GPU for past 3 years 24/7/365

Then u wanna play game how? Change back to ur current GPU

Or u using spare rig to farm?

Mining use 0% cpu so even a Celeron cpu will do, mainboard just need one with 6 PCI slot for 6 card. Also for e.g you have 3 cards, you can make the software to only use GPU 2 and 3 to mine while GPU 1 is used for gaming.

 

[Exodus2K]

GPU mining is too inefficient on power. 3.5Gh/s setup using GPU, you are talking about at least 2KW/h, or 48KW per day. That's almost $13 of electricity per day Not even considering the amount of heat generated in your room.

It's better to buy FPGA gear from people upgrading to ASIC, or just queue up and buy ASIC gear. ASIC can do do 50-60GH/s with only 620W/h (based on Avalon) or 180W/h (if butterflylab ever shipped their product).

With the kind of hash power and power efficient from ASIC, better to leave GPU for gaming purpose.

 

[SiaoAngMoh]

.... you are talking about at least 2KW/h, or 48KW per day...

Just curious how you determined at least 2KW/h? Most PCs would typically have a 500W PSU max, which assuming ~ 80% efficiency would draw approx 625W from the mains.

Assuming the PSU was on full load for 24 hours, it would draw 15KW and cost $4.

Having a more efficient PSU, the cost drops.

Although I do agree with you on the ASIC portion.

 

[zero7090]

GPU mining is too inefficient on power. 3.5Gh/s setup using GPU, you are talking about at least 2KW/h, or 48KW per day. That's almost $13 of electricity per day Not even considering the amount of heat generated in your room.

It's better to buy FPGA gear from people upgrading to ASIC, or just queue up and buy ASIC gear. ASIC can do do 50-60GH/s with only 620W/h (based on Avalon) or 180W/h (if butterflylab ever shipped their product).

With the kind of hash power and power efficient from ASIC, better to leave GPU for gaming purpose.

well there are always ltc, ppc, trc, nvc .... to mine, especially ltc since it is ASIC proof.

btw with 3.5 Ghash and the current diff you can get 0.22 coin a day. Current price is $160/btc so 1 day you get US $35.2. Minus electric profit is about US$23.

 

[Exodus2K]

Just curious how you determined at least 2KW/h? Most PCs would typically have a 500W PSU max, which assuming ~ 80% efficiency would draw approx 625W from the mains.

Assuming the PSU was on full load for 24 hours, it would draw 15KW and cost $4.

Having a more efficient PSU, the cost drops.

Although I do agree with you on the ASIC portion.

You can see the wiki page at https://en.bitcoin.it/wiki/Mining_hardware_comparison

For a 3.5GH/s set up, you will need at least five 7970 card (or other combination). But let's take 7970 which has a TDP of 250W each, so 5x250 = 1250W

Then you add in the host PC power and cooling power.. 2KW/h is quite conservative already.

 

[Exodus2K]

well there are always ltc, ppc, trc, nvc .... to mine, especially ltc since it is ASIC proof.

btw with 3.5 Ghash and the current diff you can get 0.22 coin a day. Current price is $160/btc so 1 day you get US $35.2. Minus electric profit is about US$23.

Yes, I agree litecoin mining can still be quite profitable using GPU. But not for bitcoin mining. Remember currently. only about 300 sets of Avalon is shipped, and the network hash already double from 30Th/s to 60-70Th/s. Batch 2 and Batch 3 will ship a few thousand more. Butterfly lab has a pre-order of over 30000 sets. When all these machine shipped, the network hash will be over 200Th/s in the next 1-2 months.

If you only started building up your GPU mining gear today, very high chance you won't recover your investment (unless of course if bitcoin price continue to increase to $200-$300 range)

 

[zero7090]

well, of course it is quite late to start mining. But if you started mining since last year, the profit still is very nice as a passive income source. Now it is probably more profitable to invest in new coin.

p/s: i still prefer GPU mining than ASIC since if something happen still can sell those GPU while ASIC will be just a junk piece.

 

[zero7090]

bitcoin broke USD $185

 

[incesto]

holy shiat, on Mtgox it is $225/bitcoin now