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Cryptocoin Mining?

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Silverforce11 said:
We've come a long way but the journey is just beginning. Once a critical mass is reached in terms of market-wide adoption and acceptance by major stores/banks, then we will reach the crazy phase (as if it isn't going up like crazy enough already!).
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I'm confused as to where this all heading. Right now, I cannot see it being adopted when it keeps changing in value. One week a computer might cost 1BTC. The next month, 1.5BTC, and the next, 1.2BTC and so on. And then if it does become adpoted as an official currency, doesn't that kind of defeat the whole purpose of it?

I think we'll soon to be getting to the good part of this experiment. 😛
 
njdevilsfan87 said:
I'm confused as to where this all heading. Right now, I cannot see it being adopted when it keeps changing in value. One week a computer might cost 1BTC. The next month, 1.5BTC, and the next, 1.2BTC and so on. And then if it does become adpoted as an official currency, doesn't that kind of defeat the whole purpose of it?

I think we'll soon to be getting to the good part of this experiment. 😛
Click to expand...

Every currency changes value relative to other currencies all the time. This is not something new.
 
Bryf50 said:
I looked into the Red Furys and found they would take ages to make any significant profit. Even that profit relies on Bitcoin staying at like $500+. And by that time when the cost of device is covered the difficulty will be so high that they'll be near useless. Basically its just as much of a risk as buying Bitcoins directly. That said the online profitably estimators differ wildly so maybe I'm wrong.

I still run a few Block Erupters that I'll keep going until the power costs out-way the revenue but they're basically making pennies at this point.
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I did about 10 different moves.. some very good some bad. but the coins are over 700 usd now. After all the sales buys and moves I have about 260gh in hash power all paid for just hashing away.

Plus 90gh is due in Jan. In the short term the 260gh will earn 6-8 coins by jan 1st after that who knows?
 
ultimatebob said:
The mods should really move this topic to another forum. Nobody in their right mind is mining bitcoins with video cards anymore!
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You talkn' to me? 😀

Just make the thread title Bitcoin/Litecoin. The content in the thread talked alot about both anyways.
 
Yeah the difficulty is to the point where I'm barely making 1 LTC/day, even with 3 7950s, although I have them undervolted and underclocked somewhat to cut down on power consumption.
 
This thread really belongs in Distributed Computing forums.anandtech.com/forumdisplay.php?f=15 at this point because it's not just video-card specific, it includes FPGAs and ASICs as well.
 
it should be a sticky on video cards with a we moved it to 'whatever' link .

a tech helped many of us to get into mining with this thread.
 
philipma1957 said:
it should be a sticky on video cards with a we moved it to 'whatever' link .

a tech helped many of us to get into mining with this thread.
Click to expand...

Actually, mining started with CPUs and distribute computing.

Imho, stickies should be for only the most important topics like forum announcements or when new video cards launch. Else you wind up with clutter due to having a bunch of stickies.
 
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blastingcap said:
Actually, mining started with CPUs and distribute computing.

Imho, stickies should be for only the most important topics like forum announcements or when new video cards launch. Else you wind up with clutter due to having a bunch of stickies.
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I would normally agree but it may be the largest thread on the site or one of the top 10 largest threads on the site. Most likely this thread helped to sell thousands or even tens of thousands of amd video cards. I would keep it on the top of the video card graphic section for a month or two announcing the move to link in cpu's and distributed computing. That would work for me.

But if some one missed the move notice they would have trouble finding it. So having a moved to spot holder on the video cards and graphics would need to be there a while but not forever. I still refer to this thread for info and I sometimes give the link to people on bitcointalk dot org . Still have to thank this site for the starting point of mining for me.
 
Litecoin and other alt scrypt coin mining is still very profitable on GPUs. Making more profit than BTC peak awhile ago..

So thread is as valid as ever, in directing GPU users towards mining these altcoins.

Edit: Thread should stay put, it really directs people who aren't aware of their GPU's capabilities to actually make $$. Title should be updated to reflect GPU involvement in mining bitcoins and altcoins.
 
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Considering that video cards are no longer fast enough to suitably participate in (and profit from) Bitcoin, I've had a request come in that this be moved over to the Distributed Computing forum. Are there any objections to this?

-ViRGE
 
ViRGE said:
Considering that video cards are no longer fast enough to suitably participate in (and profit from) Bitcoin, I've had a request come in that this be moved over to the Distributed Computing forum. Are there any objections to this?

-ViRGE
Click to expand...

This thread should be more about coin mining in general since a lot of us mine litecoin.
 
ViRGE said:
Considering that video cards are no longer fast enough to suitably participate in (and profit from) Bitcoin, I've had a request come in that this be moved over to the Distributed Computing forum. Are there any objections to this?

-ViRGE
Click to expand...

For the record, I wasn't the one who made the request. That said, I have no objection since this thread should have stayed in Distributed Computing in the first place.
 
Its confirmed, I just lost 8 BTC through the MotherF**** MTGOX 🙁 MY USD$ somehow mysteriously converted to BTC and transferred to an unknown address when I tried to withdraw to my bank account 🙁 Completely heartbroken 🙁

Maybe some of you nice folks here can spare me some BTC 🙁 🙁
 
Qianglong said:
Its confirmed, I just lost 8 BTC through the MotherF**** MTGOX 🙁 MY USD$ somehow mysteriously converted to BTC and transferred to an unknown address when I tried to withdraw to my bank account 🙁 Completely heartbroken 🙁

Maybe some of you nice folks here can spare me some BTC 🙁 🙁
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IDK why anyone would trust Mt.Gox for anything. Use BTC-E.
 
Qianglong said:
I already learned my lesson...thank god my only 1 BTC remaining was not transferred to MGTGOX..
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The US Gov has already seized their funds more than 1 time. And they don't have very good user security on their site (the thing that probably led to your stuff going missing).
 
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