Cryptocoin Mining?

[dfuze]

If I were to grt back into mining, go multipool with a 270, can you still make positive money?

 

[ultimatebob]

If I were to grt back into mining, go multipool with a 270, can you still make positive money?

With what they charge for power in Connecticut, I highly doubt it.

 

[fleshconsumed]

Looks like bitcoin is finally tanking as well. $434 at coinbase. The party is over? Seems sort or strange considering even paypal sort of jumped on the bitcoin bandwagon.

http://www.bloomberg.com/news/2014-09-08/ebay-s-paypal-unit-to-start-accepting-bitcoin-payments.html

 

[chimaxi83]

Looks like bitcoin is finally tanking as well. $434 at coinbase. The party is over? Seems sort or strange considering even paypal sort of jumped on the bitcoin bandwagon.

http://www.bloomberg.com/news/2014-09-08/ebay-s-paypal-unit-to-start-accepting-bitcoin-payments.html

This is about the 1000th time BTC "tanked".

 

[fleshconsumed]

This is about the 1000th time BTC "tanked".

Yes. This could be the last one, at least for a very long time. There are no more international financial crises to fuel the flames of cryptocurrency. The initial exuberance is waning, people are becoming disinterested, and the economy is slowly but steadily improving. Bitcoin has been slowly sliding downwards for the last year or so. At this point I feel like cryptos will either die off or level off in price that is much lower than the peak and become a niche currency. They may become more commonstream years later, but they've got a huge uphill battle to fight.

 

[taltamir]

Yes. This could be the last one, at least for a very long time. There are no more international financial crises to fuel the flames of cryptocurrency.

I am going to say that this is a rather naive and wishful sentiment

 

[x3sphere]

BTC has went through numerous crashes when everyone thought it was going to 0. It hasn't just recovered one time, but several. It is not your typical bubble. That doesn't mean this time won't be different but having been following it since around 2011 I'd place odds on BTC recovering unless a fundamental flaw was found in the protocol or something.

 

[fleshconsumed]

$400 now on coinbase. For sure will be interesting to see where it ultimately goes couple of years from now.

 

[BD2003]

$400 now on coinbase. For sure will be interesting to see where it ultimately goes couple of years from now.

Lol, I've got a bitcoin stashed away for my baby's college fund. I figure either it's going to fund an Ivy League education or be worth less than the paper its printed on.

 

[njdevilsfan87]

BTC is at $380, and can't even get back to $400. It's getting really bad right now, and honestly, there's no point in even trying to call a bottom if you're interesting in buying. It's looking like it could capitulate well into the $200s, and if it does, BTC is going to take a long time to recover. (A long time as in a year.) The market has simply broken down.

 

[pandemonium]

Nah, $400 was the bottom marker, and I'm pretty sure a lot of people believe that to be the case. The Alibaba IPO was at fault here for the drop as everyone dumped their BTC investments and jumped ship to that. Since that insanely bullish release is old news, we can continue back toward a steady incline with all of the interest and merchant engagement. Pending another major disrupting financial abhorrent, things should start to climb here in anticipation of the holidays.

That's how I see it anyways.

 

[Shmee]

I just got another Sapphire Tri X 290, and this one is also hynix! Yay! Currently mining darkcoin atm with the 2. I just need another motherboard to get the 980X and powercolor card up and going.

 

[Mark R]

Last month appears to be the mensis horribilis for the scrypt ASIC companies.

KNC started shipping their titan a few weeks late, only to stop shipping when it became clear that their miners were completely unfit for use. Problems included a massive DOA rate, unstable ASICs, firmware incompatible with multi-coin pools, a CPU on the ASIC controller that is too weak to keep the ASICs fed at full hash speed, and power connectors that are too small for the current demands leading to meltdowns.

Meanwhile Alpha technology have admitted that their July shipping date was fantasy, and that they're not going to make their September shipping date. However, their wafers have completed and are being sliced, diced and packaged. They still seem to think that they'll ship in October. I'm thinking November at this point. I believe earlier in this thread I predicted December when I decided not to pre-order. Guess I got lucky.

Oh, and there was the DOGE fork which means that it no longer required dedicated mining, so there are a ton more miners chasing fewer and fewer coins. The next biggest scrypt coins like feathercoin have announced forks away from scrypt.

 

[Wolf0]

I just got another Sapphire Tri X 290, and this one is also hynix! Yay! Currently mining darkcoin atm with the 2. I just need another motherboard to get the 980X and powercolor card up and going.

Assuming you're using stock sgminer 5, or the badman74 fork, how on earth do you make money over power?

 

[KlokWyze]

Winter is coming so I was thinking of getting a small rig to heat my basement workshop and to just mess around with it again. I'm assuming that it's impossible to make anything considering power costs.

Now I need to look @ either second hand asic units or a GPU rig.... hmmmmmm

 

[BD2003]

Winter is coming so I was thinking of getting a small rig to heat my basement workshop and to just mess around with it again. I'm assuming that it's impossible to make anything considering power costs.

Now I need to look @ either second hand asic units or a GPU rig.... hmmmmmm

Lol, I'm thinking the same thing. My rig is keeping my office warm right now at least.

 

[KlokWyze]

Lol, I'm thinking the same thing. My rig is keeping my office warm right now at least.

I had 2x7950's and a 7970 mining last winter when things were crazy and I was surprised how cold it got in here after I sold them.

But the LTC hashrate is 40k.... went from 1k-3k when I was mining.

 

[Wolf0]

Winter is coming so I was thinking of getting a small rig to heat my basement workshop and to just mess around with it again. I'm assuming that it's impossible to make anything considering power costs.

Now I need to look @ either second hand asic units or a GPU rig.... hmmmmmm

Not impossible, just impossible for most.

 

[Brekyrself]

Winter is coming so I was thinking of getting a small rig to heat my basement workshop and to just mess around with it again. I'm assuming that it's impossible to make anything considering power costs.

Now I need to look @ either second hand asic units or a GPU rig.... hmmmmmm

You need to choose what you mine wisely. The landscape has changed and everyday scam pump and dumps that bring zero innovation attract miners trying to strike it rich. I personally believe most of the "mineable" coins will never have a future as they can not compete with Bitcoin when it comes to the first mover advantage. Thus have moved onto technology that brings innovation.

At this point in time look at something like http://pool.minebitshares.com/

Its quite ironic yet will be profitable. Bitshares are not minable but this pool lets you mine the most profitable x11 based coins with your gpu and pays out bitshares.

 

[suklee]

Bit quiet in here lately, with zero posts in November! Does it mean interest is waning in cryptos or is it just not as profitable?

I've been doing some BTC trading recently but haven't mined this year. Is it worth getting back into it now? As the poster mentioned above, with winter coming some extra heating wouldn't hurt. Last coin I remember mining was Blackcoin... what are you guys mining with your home PC rigs?

 

[bkiserx7]

I too have been away for a while, but this thread has historically been pretty quiet since I have followed.

 

[thilanliyan]

I sold off 3 7950s and 1 290, leaving me with 2 290s. I've been using them for X-coin mining but very rarely has that been profitable in the last while, which is why I've pretty much sold everything off.

 

[fleshconsumed]

It is simply no longer profitable to mine on GPUs which is why this thread is all but dead. It hasn't been profitable to mine bitcoin on GPUs for well over a year? And it hasn't been profitable to mine Scrypt for 6 months. There are x11/x13 which are supposed to be more profitable but at this point they are not bringing in much so with electricity costs and depreciating hardware it's just not worth it. It will be really interesting where bitcoin and other altcoins end up years from now, but in the meantime the GPU mining and this thread are dead.

 

[njdevilsfan87]

The entire market is just dormant right now. I don't really expect anything too interesting out of BTC after being in a down trend for an entire year. I still like and support crypto though.

I'm also much more likely to invest directly into crypto as opposed to mining if there is going to be another boom. Mining with GPUs was fun hobby, but it was also too much maintenance in the end.

 

[Bubbleawsome]

Bitcoin is $381 right now. Hm.
Doge is probably below $0.01. I remember I had about 2.3k doge worth $4 last year. Probably worth $0.00 now.