Alternative folding support idea - mining for coins to fund F@H

[Handruin]

I started mining them on 12/20/2013 @ 23:30:00 making the total time 5,521 minutes or 3.83 days. I've netted 214416.02282743 Dogecoins total, half of which I exchanged to BTC during this time. The other half are just in my wallet or still being confirmed.

Here are some numbers from my almost 4-day run with Dogecoin:

Here's how my numbers break down:
100K DOGE -> 0.0795 BTC = $52.94 USD (rate was an average of roughly 0.00000077 BTC per 1 Dogecoin)
(Primary pool): 105020 DOGE = $69.11 USD
(Backup pool): 9395.69249798 DOGE = $6.11 USD

Total value mined so far: $128.16
Average value per day: $33.73
Cost of power during this mining run: $14.90
Current profit: $113.26

(current rate as of writing this is 1 Doge = USD $0.00066)​

Compared to what I was making with Litecoin which was about $8-12/day, it does not hold a candle to Dogecoin's current value and possibly future value. Like anything it's a risk, but right now I have some real converted Doge->BTC to prove it and I can sell them once my Coinbase account verifies my bank details.

Mining Rig:
2 x R9 290X | 980 kh/s avg (each).
1 x GTX 780 FTW | 512 kh/s avg.
Total kh/s: ~2472

 

[Stereodude]

So, you've basically got a money printing machine there. Nice...

 

[CougTek]

You better check your wallet to be sure that you've not been part of the Christmas Day Hack.

 

[Handruin]

You better check your wallet to be sure that you've not been part of the Christmas Day Hack.

The way you've interpreted this is misleading and unfortunately is causing people to panic. This hack affected people who carelessly put their coins into an online repository wallet system. My coins are stored on my physical machine in an encrypted wallet. I don't store my coins in an online wallet for this exact reason. This has also happened to people who did this with Bitcoin not too long back.

 

[timwhit]

How is the mining going?

 

[Handruin]

How is the mining going?

Good so far. I'm 25 days into the mining and at $563 in bitcoins at today's value. The majority of coins have been exchanged from Dogecoin. I'm now back to mining litecoins after trying dogecoin and Ron Paul coin. All the numbers are updated in my earlier shared google spreadsheet if you're curious. I'm not alone in this. I've had help and support from another forum member if he chooses to mention it. We chat almost daily between him and an old highschool friend of mine as we strategize which coins to mine and figure out the right times to exchange and move on. Its been really interesting, fun, and I'm learning a lot.

 

[timwhit]

When will you turn on some more folding hardware?

 

[Handruin]

When will you turn on some more folding hardware?

Soon. Probably in a few days.

 

[Handruin]

One of my machines had FAH turned off and it shouldn't have.

 

[timwhit]

The team's production has fallen off a cliff after Coug stopped doing 2 million points a day.

 

[Clocker]

Yes I am making $ too.

Right now have 3 R9 270's running with a 4th on the way and contemplating a 5th. Sold my Asus R9 270 for a nice profit as the Gigabyte ones are just fine & cheap. Going to sell my R9 270X Asus as well for a much bigger profit and replace it with a base Gigabyte R9 270. There's no difference in performance between 270 & 270x for mining unless you can get a 270x with faster memory (have not seen one).

 

[Handruin]

The team's production has fallen off a cliff after Coug stopped doing 2 million points a day.

My plan was to resume when my rig paid for itself giving our team a boost. I did take away one folder to help with the effort but perhaps I shouldn't have.

 

[P5-133XL]

Yes I am making $ too.

Right now have 3 R9 270's running with a 4th on the way and contemplating a 5th. Sold my Asus R9 270 for a nice profit as the Gigabyte ones are just fine & cheap. Going to sell my R9 270X Asus as well for a much bigger profit and replace it with a base Gigabyte R9 270. There's no difference in performance between 270 & 270x for mining unless you can get a 270x with faster memory (have not seen one).

Why R9 270's and not R9 290's? Is it just you could not afford the higher performing card?

 

[Handruin]

Why R9 270's and not R9 290's? Is it just you could not afford the higher performing card?

The payout and return on investment is relative to the card's performance. No one needs an R9 290 to do mining and some of the 270 and 280 cards offer better kh/s per watt over the 290. I chose the 290 because I felt time was of the essences in relation to the coin's difficulty increasing and potential for future ASIC miners taking away the chance for commodity miners like us.

 

[Clocker]

The payout and return on investment is relative to the card's performance. No one needs an R9 290 to do mining and some of the 270 and 280 cards offer better kh/s per watt over the 290. I chose the 290 because I felt time was of the essences in relation to the coin's difficulty increasing and potential for future ASIC miners taking away the chance for commodity miners like us.

What Doug said, for the most part. The 290's are roughly 3-4x the cost of the 270s yet the offer only about 2x the performance in KH/s. In the long run, if the run is long, the 290s are a better value but I wanted to choose the card that would pay for itself the soonest. I think I got that with the 270s. That and I just have a problem with spending close to $700 on a video card!

I'd also point out that the 270's are actually pretty quiet. Maintaining about 75C at 60% fan speed for the upper card (currently Asus R9 270X with bigger cooler) and about 25% fan speed for the lower card (vanilla Gigabyte 270), in a Coolermaster HAF XB (or any mid tower laying down on it's side - for comparison).

 

[CougTek]

I put together some numbers from my experiment. I dug up my cost of power per kW/h and plugged in those values along with an estimated consumption from my PC running cudaminer with some forcasts.
Google spreadsheet with numbers.

You seem to still maintain these stats. Have you only made 575$ so far? It's been four months since you've started this. One would have thought that your hardware would have repaid itself sooner (like, before the Mt.Gox collapse).

 

[Handruin]

You seem to still maintain these stats. Have you only made 575$ so far? It's been four months since you've started this. One would have thought that your hardware would have repaid itself sooner (like, before the Mt.Gox collapse).

I have not been maintaining the stats file in that google spreadsheet. There is a function in the spreadsheet that updates the date/time when you view it. That may be why it appears like I still update it. It's been 78 days since I started (so more like 2.5 months) and I'm in the neighborhood of $850. The number was previously higher but as you mentioned there has been some drama surrounding MtGoX (and many other events) that caused a shift in the market. I was not using them as an exchange so I did not lose any of my BTC from their demise. This market volatility is expected since it's the nature of the beast. My estimates will likely extend beyond my expected payout in 3-4 months but at the very least I've subsidized some of the cost of the parts up until this point. I'm actually considering selling the two AMD cards when I'm done to make either my money back or profit and then buy Nvidia GPUs to do F@H. I'll cross that bridge when I get to it.

 

[P5-133XL]

Curecoin: is a team where you can get a digital currency for folding.

The official sites are:
http://cryptobullionpools.com/ (coins come into accounts on this site)
http://curecoin.net/ (third-party introductory site)
http://www.curecoin.us/ (forums)
http://curecoinfolding.com/ (CC + F@h blog)
EOC: http://folding.extremeoverclocking.com/team_summary.php?s=&t=224497

About 80,000 PPD, which is sort of low to midrange for the team get's about 3 or 4 CureCoins per day depending on when the points come in. The exchanges are currently asking at 1 CUR for 0.0015 BTC, which at current Bitcoin US values means that its making about three dollars worth of cryptocurrency per day. 4 * 0.0015 * 494.5 = $2.96, not counting the small exchange fee.

 

[Handruin]

Curecoin: is a team where you can get a digital currency for folding.

The official sites are:
http://cryptobullionpools.com/ (coins come into accounts on this site)
http://curecoin.net/ (third-party introductory site)
http://www.curecoin.us/ (forums)
http://curecoinfolding.com/ (CC + F@h blog)
EOC: http://folding.extremeoverclocking.com/team_summary.php?s=&t=224497

About 80,000 PPD, which is sort of low to midrange for the team get's about 3 or 4 CureCoins per day depending on when the points come in. The exchanges are currently asking at 1 CUR for 0.0015 BTC, which at current Bitcoin US values means that its making about three dollars worth of cryptocurrency per day. 4 * 0.0015 * 494.5 = $2.96, not counting the small exchange fee.

That's not bad. Are you participating in it?

 

[P5-133XL]

No, my team is here...