Bitcoin sellers remorse.... how many people are kicking themselves for cashing out>?

[SlowSpyder]

I still have 2.3xxxx in my wallet. If I sell out now, my video card will end up being about half price of what I paid originally... not bad.

 

[BUTCH1]

You can, but at the rate that you would be contributing would net you so little amounts of bitcions that it costs more in electricity to run your GPU. Most of the mining has moved on to custom ASICs.

If your computer is on the GPU is running, your saying that running bitcoin max's the GPU out causing more electric usage than just say normal web browsing??..

 

[ultimatebob]

Bitcoin finally cracked $100... and Litecoin cracked a dollar. Crazy!

 

[Crusty]

If your computer is on the GPU is running, your saying that running bitcoin max's the GPU out causing more electric usage than just say normal web browsing??..

No, what I'm saying is that there is no amount of current hardware that you can fit into a single PC that will be able to mine more BTC than it costs in USD to run the machine 24/7.

If you really tried you might be able to get a PC to squeak out a few GHash, but it's really about the ASICs now. They offer mining rates that start at 60GHash and go all the way up to 1500GHash if you've got the $$$ for it.

 

[Train]

No, what I'm saying is that there is no amount of current hardware that you can fit into a single PC that will be able to mine more BTC than it costs in USD to run the machine 24/7

You sure about that? Even with the recent spike in BTC to USD?

Even at 1000 watts, you're only spending maybe $2.4 a day in electric.

At current prices, as long as you can mine one coin per 40 days, you're still coming out ahead.

 

[Crusty]

You sure about that? Even with the recent spike in BTC to USD?

Even at 1000 watts, you're only spending maybe $2.4 a day in electric.

At current prices, as long as you can mine one coin per 40 days, you're still coming out ahead.

Well, roughly calculating...

A 60GHash device will give you 4.5BTC per day at the current difficulty.

So lets say you can get 2GHash from a 1000watt computer...

2GH/60GH *4.5BTC = .15BTC * 40days = 6BTC, so at current prices it might be feasible, but the difficulty is only going to go up.

edit: correct numbers

 

[chimaxi83]

No, what I'm saying is that there is no amount of current hardware that you can fit into a single PC that will be able to mine more BTC than it costs in USD to run the machine 24/7.

If you really tried you might be able to get a PC to squeak out a few GHash, but it's really about the ASICs now. They offer mining rates that start at 60GHash and go all the way up to 1500GHash if you've got the $$$ for it.

Absolutely incorrect. I mine on two 7970s and one 7870, and at current BTC prices, I make nearly $300 a month after electricity expense.

 

[Crusty]

Absolutely incorrect. I mine on two 7970s and one 7870, and at current BTC prices, I make nearly $300 a month after electricity expense.

That's not how it was for the entire year up until last month when the price went nuts. Mining on a GPU might be profitable now, but definitely not for very long.

 

[OverVolt]

yes but essentially the WAY you earn the currency is still a game. Its an endeavor which only results in one product-the currency. Other than that it serves no useful function what so ever.

At least with real world mining the ore can be used for several thousand applications. Here the ore is good for one thing only-to spend.

I get why people do it im not arguing the value of it, just what the other result is.

The roman empire mined copper, silver, and gold to use for coins. They didn't have many industrial purposes for them like we do today, especially the silver and gold.

They spent all their time digging mines for this "money." Its really no different.

 

[FelixDeCat]

nvm

 

[FelixDeCat]

▲ mtgoxUSD USD (dwolla/SEPA) 114.5 80,825 traded

 

[gorobei]

well now i am kicking myself for quiting bitmining.

 

[zCypher]

there is also "litecoin"

 

[quakefiend420]

there is also "litecoin"

yeah, was just looking into that.

I have all my GPUs on bitcoin, this looks like a good way to put my CPUs to use too

 

[FelixDeCat]

1 BC / $140.00 USD just printed

 

[Red Squirrel]

I'm starting to wonder if it's worth getting into this. I have plenty of rack space for a couple 4U boxes. I was cruising Tiger Direct and found a motherboard with 6 16x slots! That could probably fit 3 video cards! Too bad video cards take 2 slots now, since it could technically fit 6. Would probably need to find room to put a secondary power supply in there too. Throw in a core i7 and 32GB of ram and it could also act as a decent VM server.

Still need to read up more on it though, and see what is the most efficient way of going about it.

 

[OverVolt]

I'm starting to wonder if it's worth getting into this. I have plenty of rack space for a couple 4U boxes. I was cruising Tiger Direct and found a motherboard with 6 16x slots! That could probably fit 3 video cards! Too bad video cards take 2 slots now, since it could technically fit 6. Would probably need to find room to put a secondary power supply in there too. Throw in a core i7 and 32GB of ram and it could also act as a decent VM server.

Still need to read up more on it though, and see what is the most efficient way of going about it.

AMD dual video?

 

[arkcom]

I'm starting to wonder if it's worth getting into this. I have plenty of rack space for a couple 4U boxes. I was cruising Tiger Direct and found a motherboard with 6 16x slots! That could probably fit 3 video cards! Too bad video cards take 2 slots now, since it could technically fit 6. Would probably need to find room to put a secondary power supply in there too. Throw in a core i7 and 32GB of ram and it could also act as a decent VM server.

Still need to read up more on it though, and see what is the most efficient way of going about it.

not worth it for bitcoins. Fpgas are about to make video cards obsolete.

Edit: meant ASICs

 

[Red Squirrel]

not worth it for bitcoins. Fpgas are about to make video cards obsolete.

I just googled those real quick. That sounds interesting. Are these like a card that goes in a computer, or is that actually completely separate from a computer?

 

[arkcom]

I just googled those real quick. That sounds interesting. Are these like a card that goes in a computer, or is that actually completely separate from a computer?

It's a usb box that does nothing but mine bitcoins.

 

[Doppel]

Bitcoin is like the uber pyramid scheme, touted by those with zero knowledge of currencies. It is by its very design deflationary. It's hilarious some people continue to defend it as if it's anything but a sideshow.

 

[Doppel]

The roman empire mined copper, silver, and gold to use for coins. They didn't have many industrial purposes for them like we do today, especially the silver and gold.

They spent all their time digging mines for this "money." Its really no different.

The largest difference is that there is no practical limit to how much silver and gold is in the world. Although there is some unknown finite amount if the entire planet was sifted for these metals, throughout history as demand for them as increased so too has the effort to locate them and thus the supply continually and healthily grows. Bitcoin on the other hand hits a point at which increased effort to get more coins is monumentally detached from how many are received. With half (?) of the world's supply of bitcoins now mined you can see a wall soon approaching at which point people will either jump from it en masse or continue to bid up its price to stratospheric levels.

 

[3chordcharlie]

The largest difference is that there is no practical limit to how much silver and gold is in the world. Although there is some unknown finite amount if the entire planet was sifted for these metals, throughout history as demand for them as increased so too has the effort to locate them and thus the supply continually and healthily grows. Bitcoin on the other hand hits a point at which increased effort to get more coins is monumentally detached from how many are received. With half (?) of the world's supply of bitcoins now mined you can see a wall soon approaching at which point people will either jump from it en masse or continue to bid up its price to stratospheric levels.

QFT, and yes, the currency is designed to be deflationary. I suspect it will most closely approximate the market for 'rare baseball rookie cards'.

There's a very high correlation between:

-Holds some sort of MCSE;
-Seems to think the 'E' stands for Economics;
-Is a Gold standard preaching Libertarian;

and:

-Has no clue why falling prices could be a problem

 

[HydroSqueegee]

ride the rocket while the getting is good. if it does come tumbling to the ground, jump out with your parachute made from 100$ bills down to safety.

little risk, huge rewards. its a good investment opportunity... well, was. BC is just about out of reach for the average GPU miner.

 

[ultimatebob]

Wow... we're up to $145 Bitcoins and $5 Litecoins. Just a month ago, Bitcoins were $35 and Litecoins were 8 cents. Yeah, 8 cents. I wish that I didn't cash out of my stash when they got to 50 cents a little over a week ago!

When will this madness end?