AMD destroys Nvidia at Bitcoin mining, can the gap ever be bridged?

[Chiropteran]

$100 for an entire month on 24/7 mining on high OC is extremely MEH in my opinion.

Sounds like you aren't much of a businessman. Can you name any other possible investment that pays off better?

 

[96Firebird]

Can you name any other possible investment that pays off better?

My degree.

 

[BallaTheFeared]

Picking up pop cans is more profitable, and an actual service to the community. Though you may have to invest slightly more time overall, unless you have a "honey hole".

 

[Zanovar]

Picking up pop cans is more profitable, and an actual service to the community. Though you may have to invest slightly more time overall, unless you have a "honey hole".

Hahah,that made me chuckle.more effort involved though im sure.

 

[AustinInDallas]

Picking up pop cans is more profitable, and an actual service to the community. Though you may have to invest slightly more time overall, unless you have a "honey hole".

whats a honey hole?

 

[f1sherman]

Sounds like you aren't much of a businessman. Can you name any other possible investment that pays off better?

 

[Rezist]

I think it's better/cheaper to post nvidia propaganda then bitcoin mine IMO. You coud get sponsored to bash AMD.

 

[3DVagabond]

I think it's better/cheaper to post nvidia propaganda then bitcoin mine IMO. You coud get sponsored to bash AMD.

Well that is another way to get free hardware. Actually requires you to do something for it though, and you'll only get nVidia product. With bitcoins you can buy some pizza and beers to go along with that new card.

 

[Zanovar]

Wtf is that pic lol?it has meaning im sure,but beats me at this ungodly hour.Ah nvm,think i get it.

 

[SlowSpyder]

Here is estimates on earnings when some of the ASICs hits the marked. Note that those after this date are estimates, not proof.

However take a look at the previous records on mining. They is 100% real and how Bitmining have changed and it gives a great picture on why GPU mining is dead.

2013-02-01: 0.169 BTC per day with 1GH/s. Back then you made 5.07 BTC/month (0.169*30days).
2013-04-18: 0.056 BTC per day with 1GH/s. That is today. So in a month now you make 1.68 BTC/month (0.056*30).

So without ASICs flooding the market from Avalon/BFL, due to the difficulty you now mine 65% less Bitcoins/month than 2 months ago. Just look at the chart, if his estimation on ASICs hitting the market is correct, you will need several ASICs to make a decent slump of money.

You can find terms about the difficulty and earnings after this date is based on here: http://organofcorti.blogspot.no/2013/04/913-asic-choices-asic-earnings-17-april.html

That's super duper information and all, but would you rather mine 5.07 x $20 bitcoins in a month or 1.68 x ~$120 bitcoin a month? I'm using the dates you picked to 'prove' your point of GPU mining being dead.

http://bitcoincharts.com/charts/ <-- Draw a graph going three months back.

I understand that GPU mining has a limited future. That doesn't mean this isn't still a good time to mine with a GPU right now. And if the asic's don't hit the market on time (which delivery of product appears to be an issue right now) then who knows what will happen.

 

[pandemonium]

Lol, a lot of unecessary hate in this thread. Can't believe we're still debating the purposes of making money where-as it wouldn't have been made.

My degree.

How much did that set you back?

 

[Gikaseixas]

The thread title is what's killing them, they just can't live with it and want to downplay it as much as they possible can.

 

[wand3r3r]

The irony of the people claiming they don't care about $50-100/month and then running cards that only cost a couple hundred $ is just great.

If they supposedly didn't care about 'little' money they'd be using titans or 690's as they are only about $50-100 /mo.

 

[markyh]

Here is estimates on earnings when some of the ASICs hits the marked. Note that those after this date are estimates, not proof.

However take a look at the previous records on mining. They is 100% real and how Bitmining have changed and it gives a great picture on why GPU mining is dead.

2013-02-01: 0.169 BTC per day with 1GH/s. Back then you made 5.07 BTC/month (0.169*30days).
2013-04-18: 0.056 BTC per day with 1GH/s. That is today. So in a month now you make 1.68 BTC/month (0.056*30).

So without ASICs flooding the market from Avalon/BFL, due to the difficulty you now mine 65% less Bitcoins/month than 2 months ago. Just look at the chart, if his estimation on ASICs hitting the market is correct, you will need several ASICs to make a decent slump of money.

You can find terms about the difficulty and earnings after this date is based on here: http://organofcorti.blogspot.no/2013/04/913-asic-choices-asic-earnings-17-april.html

328 terahash by end of july? Not gonna happen. I doubt we will enven have this much network hashrate by the end of 2013. The whole hashing power of Avalons batch 2 and 3 which jhave not shipped yet are 1200 x 60g/hash. This is 72 Terahash. Enough to just about double the network hash rate now if the are all running and mining come 1/5/13, which they wont be.

There is no Avalon Batch 4 yet And BFL will trickle out no flood out (well maybe!!!!)

So where is this other 200 terahash coming from by July? That is 200 million megahash!! which is 400,000 AMD 7950 GPU pulling 500 megahash each!

lol.

M

 

[RussianSensation]

The irony of the people claiming they don't care about $50-100/month and then running cards that only cost a couple hundred $ is just great.

If they supposedly didn't care about 'little' money they'd be using titans or 690's as they are only about $50-100 /mo.

If $50-100 a month doing little physical or mental work is not worth it, can I get these people to send me $50-100 a month?

If $50-100 a month is nothing, why are many people asking if they should get HD7950/670 or HD7970/680 or i5 3570K vs. i7 3770K? Why did NV create a $100 price difference between 670 and 680? Why did AMD split 7970 and 7970GE? $100 is the difference between 128GB and 240-256GB SSD, etc.

$50-100 a month is the difference between buying an HD7970GE and having half or more of it paid off vs. spending $450 on a competing product that also happens to be slower. Or it's like getting an HD7970GE + free SSD upgrade, free i5, free PSU upgrade, over time, etc.

$50-100 a month is per 1 card. If you get 2 or 3, that's $100-$300. If BTC continues at the same pace, that's up to $900 from 3x 7970s in only 3 months. If you game 6 hours per every single day for 3 months, that' still $675 in 3 months after electricity costs @ $0.15 per kWh, or nearly 2x 7970s paid off. :biggrin:

BTC mining with the GPU is actually one of the least riskiest methods to get into it because the GPU hardware can be readily sold off. If bitcoins fail tomorrow, the ASICs and other specialized units are worthless. If you invest real money into BTC currency and the value of BTC falls dramatically, you lose a lot of your own $. By far the least riskiest method is mining with your GPUs. I wonder how many people here would have been running GTX670/680 Tri-SLi if NV's cards could make $ mining. The naysayers have been around since HD4800 days and now we are mining on the HD7000 generation of AMD cards. The bitcoin profits keep being rolled over into future GPU upgrades, while on the NV side you have to spend your own money to go from GTX200 to 600, etc. It starts to add up.

 

[Chiropteran]

My degree.

Hah, that is a good one.

Highly unscientific, google "average cost to get a degree", and results come at around $75,000

Okay, so $75,000 worth of mining gear, you can get 2x7970, cheap mb and cpu, power supply, and a cheap hd or usb stick for linux- around $1150

$75,000 is enough for 65 of such systems. Each 7970 can put out 600 mh/sec fairly easily, so that is 65X2X600= 78GH/sec

Putting all this into the profit calculator http://www.bitcoinx.com/profit/ for 1 year.


Net profit first time frame $156,004.16 USD

Did your degree net you $156,004 your first year out of school?


Of course, you probably went to school years ago. If you did the same thing 3 years ago and mined bitcoin before the recent craze and held your bitcoin, you would actually have more than 10 million dollars worth of bitcoin.

Yeah, I'm sure your degree paid off better, lol.

 

[96Firebird]

You seriously are delusional...

$75k is the average for a degree? Do we not include grants/scholarships?

 

[Keysplayr]

Lol. Thread is proof further that ANYTHING can be debated and mostly without any public or community-based agreement. Round and round she goes.
Just end it folks. Those for bitcoin mining just keep on mining. Those against just don't post about it anymore. Chances are those that are for it will listen to your point of view just as much as you listen to theirs. Which is never.
/thread

 

[3DVagabond]

Lol. Thread is proof further that ANYTHING can be debated and mostly without any public or community-based agreement. Round and round she goes.
Just end it folks. Those for bitcoin mining just keep on mining. Those against just don't post about it anymore. Chances are those that are for it will listen to your point of view just as much as you listen to theirs. Which is never.
/thread

The thread wasn't about bitcoin mining, it's profitability or lack thereof, whether people are dumb to do it, etc... That's just where it got dragged off to. It's about whether or not nVidia hardware can be made as fast as AMD hardware at mining.

 

[Eureka]

Thing is, there's really no debate on that end (AMD vs NV at BTC mining). AMD chips are faster at processing integer rotations and so it will be faster at BTC mining. And most people (average consumers) aren't going to BTC mine, so Nvidia has no incentive to change their design to do so.

BTC mining, with GPUs, is going to be a small fraction of the consumer base.

So now the discussion has moved to BTC mining itself.

Is it a source of money? Yes it is. Is it an ethical source of money? That's more debatable. Is the bubble going to pop? No one knows.

 

[Chiropteran]

The funny thing is I can instantly tell (with almost 100% accuracy) whether a poster is pro-bitcoin or anti-bitcoin, just by seeing which kind of video card they have listed in their signature.

It's rather obvious that those against mining aren't using any rational argument, they are simply jealous because their GPU of choice doesn't perform very well at the task.

You seriously are delusional...

$75k is the average for a degree? Do we not include grants/scholarships?

The entire thing was a bit tongue in cheek, but just to play along: if you are going to assume a grant or scholarship, I can assume that you can simply lease or rent the video cards and resell later, given resale value around 50% at one year increase the money earned to $300k for a year.

 

[wand3r3r]

Wtf is that pic lol?it has meaning im sure,but beats me at this ungodly hour.Ah nvm,think i get it.

I'm still trying to guess what the picture represents. I can guess but it's hard to determine if that is a cutout from a body or not. A little too much info in the pic, but not quite enough to be sure what he's trying to demonstrate.

 

[smithkt]

I'm still trying to guess what the picture represents. I can guess but it's hard to determine if that is a cutout from a body or not. A little too much info in the pic, but not quite enough to be sure what he's trying to demonstrate.

From Wikipedia:

"Scott Tenorman Must Die" is the fourth episode of the fifth season of the animated television series South Park, and the 69th episode of the series overall. It first aired on Comedy Central in the United States on July 11, 2001. In the episode, ninth-grader Scott Tenorman makes Cartman believe that buying pubic hair from him will make Cartman reach puberty. Realizing that he had been tricked, an angry Cartman then proceeds to plot revenge on Scott.

 

[Eureka]

The funny thing is I can instantly tell (with almost 100% accuracy) whether a poster is pro-bitcoin or anti-bitcoin, just by seeing which kind of video card they have listed in their signature.

Sorry, you really can't. There are plenty of AMD users who don't touch BTC mining. I've had more AMD cards than Nvidia cards over the years, and I'm still not sold on it. Sure you can make money on it, but with only one card, it amounts to eating out once a week, and at the same time, it is pretty unethical in doing so. It's a ponzi scheme feeding black market purchases. Not to mention you're smoking your room and eating up power for the sake of doing so (which works in winter, I suppose).

I'm still trying to guess what the picture represents. I can guess but it's hard to determine if that is a cutout from a body or not. A little too much info in the pic, but not quite enough to be sure what he's trying to demonstrate.

Does nobody watch South Park anymore?

 

[f1sherman]

Does nobody watch South Park anymore?

theyr all racists

discriminating against my people by ignoring pubes $*&#@^
my money is as good as anybody's!