Cryptocurrency Mining and GPUs
- Thread starter sechs
- Start date
I'm curious if you'd be willing to share some info on your experience with mining and acquiring Bitcoins. I'm not looking for actual dollar amounts as that's your private business. What I'm curious about is if you can compare your gains/losses between the time you started mining and the value of Bitcoin now. This includes your initial investment cost for mining hardware/software/electricity/time/etc to get your gain/loss.
I would then like to know what the gain/loss might have been if just had just bought the bitcoins with the same initial investment amount when you started this vs buying the hardware to mining them. You could use the start time and the price at that time as a one-time lump purchase.
I'm interested in the percentage difference (if any) between buying coins as an investment vs mining them over time. I realize there are a lot of factors in this knowing that mined coins don't all come at one lump sum which means you'd need to know their rough basis value at acquisition to get to the number I'm looking for.
I would then like to know what the gain/loss might have been if just had just bought the bitcoins with the same initial investment amount when you started this vs buying the hardware to mining them. You could use the start time and the price at that time as a one-time lump purchase.
I'm interested in the percentage difference (if any) between buying coins as an investment vs mining them over time. I realize there are a lot of factors in this knowing that mined coins don't all come at one lump sum which means you'd need to know their rough basis value at acquisition to get to the number I'm looking for.
I'm certainly not considering it. I don't feel that the potential upside is as large as it has been, and the uncertainty is still there. It seems like more cryptocurrencies came out before BTC was able to properly establish itself as a standard. To me this weakens the validity of the system considerably. In the end I'll hold a dozen or so as a speculative play, but don't really expect much of it.
The good news is that it's not insanely good as rumoured. The bad news is that it's at least as good or better than nVidia. If AMD releases the DAG fix for Ethereum, and the difficulty bomb gets pushed back as expected, it's game over.
We can hope that supply of GPUs suitable for cryptocurrency mining meets the demand, because mining is unlikely going away soon. I see new people building mining-only rigs every day.
nVidia, at least, seems to be taking the path of attempting to meet the demand. AMD has built parts that are inherently better at compute tasks but is ignoring it.
We can hope that supply of GPUs suitable for cryptocurrency mining meets the demand, because mining is unlikely going away soon. I see new people building mining-only rigs every day.
nVidia, at least, seems to be taking the path of attempting to meet the demand. AMD has built parts that are inherently better at compute tasks but is ignoring it.
More likely they know people in the distribution chain, and can order/purchase cards before they even hit the retail merchants or end point distributors... Eg especially when miners are happy to pay RRP for cards directly from the local distributors...
I don't know how it works in the US, but here in OZ we typically have 2 tiers in the distribution chain, those that purchase directly from the manufacturer and import the goods, and those that buy from the former for distribution onto the retail merchants... If the minors are buying direct from the distributor doing the importing... that doesn't leave a lot in the smaller distributors and retail channel...
I don't know how it works in the US, but here in OZ we typically have 2 tiers in the distribution chain, those that purchase directly from the manufacturer and import the goods, and those that buy from the former for distribution onto the retail merchants... If the minors are buying direct from the distributor doing the importing... that doesn't leave a lot in the smaller distributors and retail channel...
AFAIK, unless the electricity is free they very much care about hash per watt because they need to turn a profit making more money mining than they're spending on electricity. Ultimately that's why GPU's fell to ASICs with Bitcoin mining. As the complexity went up it cost more to run GPUs for mining than you could make from the mining.
In other bad news...
AMD released a blockchain compute driver with the DAG fix.
Ethereum developers announced a delay in the difficulty bomb, to be implemented in September.
And, graphics RAM prices went up 30% this month.
AMD released a blockchain compute driver with the DAG fix.
Ethereum developers announced a delay in the difficulty bomb, to be implemented in September.
And, graphics RAM prices went up 30% this month.
On Differences...
http://www.gamersnexus.net/guides/2826-differences-between-ddr4-and-gddr5
It doesn't....
http://www.gamersnexus.net/guides/2826-differences-between-ddr4-and-gddr5
It doesn't....
This is an expensive lesson, and he admits as such. I don't think he's into gaming or needs a workstation. He just dumped a lot of money and effort down the drain.
The cryptocurrency mining scene is littered with people who didn't do any research or think about how they would do things. Pretty much nobody getting into Ethereum mining now is going to break even. But they keep coming like this.
The cryptocurrency mining scene is littered with people who didn't do any research or think about how they would do things. Pretty much nobody getting into Ethereum mining now is going to break even. But they keep coming like this.
