Good luck getting a 7970 on Monday - Bitcoin miners likely to clear them out :(

Discussion in 'Video Cards and Graphics' started by Madpacket, Jan 6, 2012.

  1. Madpacket

    Madpacket Golden Member

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    Looks like the 7970 pulls around 650Mh/s with a standard 1150 overclock and it'll likely pull more once proper miners are developed for it.

    I'm guessing these excellent results combined with the recent large increase in value of the BTC will create the perfect storm where miners will clear out most of the initial shipments of 7970's - I hope I'm wrong.

    Source:

    https://bitcointalk.org/index.php?topic=56630.20

    What you do you think?
     
  2. 3DVagabond

    3DVagabond Lifer

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    I think 7970's are too expensive to be the darling of the BM community like the 5800's were.
     
  3. Phynaz

    Phynaz Diamond Member

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    People still mine bitcoins?

    At 650Mh/s how long would it take one of these to break even?
     
  4. Concillian

    Concillian Diamond Member

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    There's no way it will do well enough in mining per watt for bitcoin peeps to snatch up all these.

    Look at that thread you linked, there's all kinds of skepticism in there. They won't snatch them up on release day based on speculation and no power draw numbers.
     
  5. Madpacket

    Madpacket Golden Member

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    Yeah tons of people still mining if you look at the current swarm speed (Network total 9.346 Thash/s). That's a lot of miners.

    As for how long it'll take to pay off, no one knows really as it depends on many factors but the biggest one being how much do you pay for electricity.
     
  6. Madpacket

    Madpacket Golden Member

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    Concillian,

    I hope you're correct! I want to snag a 7970 come Monday :)
     
  7. Smartazz

    Smartazz Diamond Member

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    That's pretty impressive, but it's far too expensive to have as solely a mining card. However, it might be a good card to have for gaming, and some mining on the side.
     
  8. Don Karnage

    Don Karnage Platinum Member

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    I don't see the cards selling out. Amd has a lot of stock and the prices are really high
     
  9. hdfxst

    hdfxst Senior member

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    bitcoin went over 7 dollars yesterday,i'm thinking of starting up over the weekend
     
  10. dakU7

    dakU7 Senior member

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    650MH/S for 550$, or 800MH/S for 300$ (HD5970).
    I seriously doubt miners are going to buy strictly for mining.
     
  11. james1701

    james1701 Golden Member

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    Well, if one of them wants, I can trade them 2 5870's for 1 7970 lol.
     
  12. Vesku

    Vesku Diamond Member

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    Can't really see many miners buying in at launch pricing. Especially since the 7970 launch will probably see another round of used 5800/5900 series hitting the internet.
     
  13. gevorg

    gevorg Diamond Member

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    AMD and Nvidia should pray to Bitcoin. People buying multiple highend GPUs and don't care about driver issues in gaming. :)
     
  14. toyota

    toyota Lifer

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    I bet every person that actually wants one will get one. a few people are just hoping they will sale out so they can bitch about it.
     
  15. x3sphere

    x3sphere Senior member

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    Only AMD you mean. Nvidia cards are worthless for mining, GTX580 is only on par with a low end 57xx in terms of hash rate.
     
  16. Anubis

    Anubis No Lifer

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    i thought the stupidity that was bitcoin finally died, guess i was wrong
     
  17. Rvenger

    Rvenger Elite Member <br> Super Moderator <br> Video Cards
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    I guess you figure, these cards are more efficient than the 6000 and 5000 series so it goes to count that it would save some electricity over time.
     
  18. Smartazz

    Smartazz Diamond Member

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    The savings in electricity costs would likely be much less than the added cost of getting these cards over something like the 5970.
     
  19. railven

    railven Diamond Member

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    If I owe the Bitminers anything - it's a thanks. My brief excursion into the Bitmining world yielded me $800 on ~$20-30 investment.

    I'll buy an HD 7970 in their honor :D
     
  20. Don Karnage

    Don Karnage Platinum Member

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    Care to explain how you achieved that?
     
  21. railven

    railven Diamond Member

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    Sure, I had a spare P43 Neo3 F board, a Intel E2160, and 1x2GB of DDR2 800 RAM from an old build.

    I also had a HD 5830. I started to bitmine, found a good guide on how to downlock my RAM and processor, then OC the HD 5830. I traded my PhysX GTX 460 for a second 5830. Through that into the miner. Ran it 24/7 for about 2.5 weeks average about 3 coins every other day. Then I sold my coins, about 25, for a nice ~$16 a piece (before the bottom fell out) and then someone offered me $400 for the Rig so I said sure. Haha.

    Cost out of my pocket - electricity. My guess was $30-50, could have been less or more, but since I only did it for such a shor time, my bill was electricity bill was about ~50 higher but I also ran the A/C more during that period.

    And I doubt I'm not one of the big "I made a fortune from bitminig" stories. So yeah, thanks bitminers :D
     
  22. Don Karnage

    Don Karnage Platinum Member

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    Nice :thumbsup:
     
  23. ensign_lee

    ensign_lee Senior member

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    Serious bitcoin miners won't be buying 7970s on launch day. The price/performance for the hardware just isn't there. Why would you buy a 550 7970 mining at 650 mhash/sec when you could get a used 5870 mining at 400 mhash/sec for around $150-$200?

    What this WILL affect however, is the resale price of 7970s down the road, which is a good thing for anyone who wants a 7970. Wheneve rpeople are dumping this card (either for Kepler or for the next generation after this), you can be sure that this card will retain its value better than its Nvidia counterpart.

    Look back in the past for the pricing of 5870s. Why, only 6 or so months ago, they were selling for $300 again USED. And this was on 2 year old hardware. Considering their original MSRP was around $400 or so, that is Fing awesome! And why was this? Because bitcoin miners drove up the price of 5870s because of increased demand for it as used hardware.

    So fret not anyone who wants a 7970. There won't be very many miners who will compete with you on launch day to get your cards, driving your prices up. What they will do, however, is pay you more whenever you decide to trade up from your 7970 for anything else.
     
  24. OVerLoRDI

    OVerLoRDI Diamond Member

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    I was a pretty serious bitcoin miner for quite sometime and the 7970 does not offer the performance/price of other cards. What I'm more curious about any VLIW 28nm cards that may sneak through into the 7000 series. Those have potential to be solid miners at a really low price. Ultimately depends on how well suited GCN is for hashing, but it seems like it is hard to beat VLIW at this task.
     
  25. Madpacket

    Madpacket Golden Member

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    Great responses guys and thanks for sharing. After reading your responses I agree the non gaming hardcore miners will likely stay away from these cards initially until the price falls, however folks such as myself will be mining on these new 7970 when not gaming to help augment the price of the card over the next 6-12 months or so. I should rename the thread title to "casual" Bitcoin miners likely to clear them out :)
     
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