Crypto Currency Mining & Graphics Cards

[Onus]

No, it would be against the rules to discuss an activity known to be illegal. We've reached that line (I probably went closer than you did, because I have such a lofty regard for elected officials /drip), so probably shouldn't cross it.

 

[cub_fanatic]

So glad this is over. "This" as in AMD GPU hoarding caused by non-ASIC scrypt mining. It really didn't last as long as many thought it would. Scrypt was supposed to be "ASIC-free" forever or at least a very long time. Somewhere some engineer heard that and went "challenge accepted", completed the task and out popped the gridseed. Now, the R9 280x which was sold out for months and/or nearly $450 at one point is back in stock at its normal price of under $300. It would have been fun to see miners fight over the 295x2. I wonder how high prices would have gone - $2000?... $2500?... $3000? Why not? You can now get a used (reference) R9 290 for under $300 on ebay (lol!). I'm thinking about picking up a 7970 or 7950 which are now even less at $250 and $200 brand new and even less than that for the scores of used former mining examples on ebay - many of which are still technically under factory warranty, although I'm pretty sure they are non-transferable. Even those gridseeds are dropping in price rapidly. They were in the $200 range initially which wasn't bad considering they got 400 kh/s which was about the same as a $200 270x but used about the same amount of power as a smartphone. Now, they going for around $75. Almost every singe alt-coin is virtually worthless and costs more to mine in electricity even if you have very cheap rates. Also flooding ebay - high end power supplies and multi-PCIe x16 slot motherboards. If you are thinking about building a 1500 watt rig with 4x 7970 GHz in CFX, this is the time to do it. Thousands of people are desperately trying to dump their hoards of AMD GPUs and high end PSUs for fractions of what they paid for them just 5 or 6 months ago. I don't see the prices of any alt-coins going up anytime soon except for maybe litecoin. But, as of right now, unless you have a small room full of gridseeds, you can't make much mining LTC due to its extremely high difficulty and there are no other scrypt coins that you can trade for LTCs to trade for BTCs that will net you more than $1 per day per 1 Gh/s. Amateur hour is over for crypto currency mining. Now, you need to be like that dude in Northern Greenland or Iceland or wherever who set up a mining warehouse full of the latest SHA ASIC miners that is run by some sort of hydro-electric power station (or wind turbines, can't recall exactly, maybe both) and cooled by, well, a hole cut in the floor exposed to the arctic ice. The whole idea of a crypto currency is great. It was ruined by all the alt-coins that popped up - literally dozens per day - and the mining. It ended up putting all the power to mine them in the hands of an elite few just like how regular money is. Whoever has the most regular money now can afford to buy all the best ASIC miners and will have the majority of the coins. The elite few can then manipulate the markets just like they do with regular money. And with all these bogus alt-coins and "exchanges" it is extremely easy to do so. And it seems like what they chose to do is to try and kill it off entirely or at least eliminate the amateur miners from the equation.

 

[Rob Davis]

After doing the math on the pool I was in, turns out it would take me 900+ days to earn 0.01 bitcoins -_-

So much for that idea...

I was actually going to ask someone on this tread if its worth buying expensive hardware for bitcoin mining. Now i see you get so little on your ROI and earning $6 when i got it converted 0.01 to usd http://www.converterhub.com/0-01btc-usd plus waiting 3 years, no thanks.
It would be much simpler just to invest few hundred dollars couple of years ago or wait till something new comes up .

 

[vince232]

hi guys im planning to build a 3 750ti mining rig and would just like to ask if a 750w psu can handle that thanks

 

[smeezekitty]

I don't think it is very profitable anymore.

Anyway 750w will be MORE than enough. a 400w PSU would be enough

 

[vince232]

well i saw articles that a 750ti can produce 250-270kh with the 60w consumption. reviews are saying that it is the best bang for your buck card. given the kh/w they produce. ill try to mine litecoins or any other scrypt or x11. then trade for bitcoins.

 

[vince232]

i have a thermaltake litepower 500w. for the mean time, will it be enough for 3 750ti and mine maybe 16-20 hours a day then ill upgrade to a 650w when i get another card

 

[smeezekitty]

It should be sufficient

 

[vince232]

It should be sufficient

thanks!

 

[cub_fanatic]

i have a thermaltake litepower 500w. for the mean time, will it be enough for 3 750ti and mine maybe 16-20 hours a day then ill upgrade to a 650w when i get another card

Please tell me you are joking and that you didn't just buy 3x 750ti's for mining. You are literally not going to make any money. Also, the best bang for your buck in scrypt is the gridseed, unless they came out with an even more efficient scrypt ASIC. The gridseed is $55 to $60 shipped and gets you 300 kh/s out of the box stock. It uses less power than a thumb drive (2.5 watts) and many people have reported that it can be overclocked to around 400 kh/s. By comparison, each 750ti is going to draw around 175 watts and you are barely getting 275 kh/s per card. Oh, and they cost about $150 each vs $55 each for a gridseed (link to a gridseed for $55 shipped). You are going to discover that you are paying more for power than you are actually making (which is going to be about 10 cents USD per day). Unless you plan on buying like 100x GTX 650ti's or 100x gridseeds, the entire concept is a waste - unless you are doing it purely for educational purposes? I was mining scrypt up until around March with my 7950 which gets 650 kh/s and I also had a 270X which was doing 420 kh/s, so a little over 1 Mh/s. By Sept. of last year, I was making roughly $15 per day and power cost me around 15 cents per day. By March, I was making less than a buck per day. I still have my 7950 and if I were to fire it up for mining again, I would barely make 10 cents mining even the most profitable alt-coin. That is a net loss of -5 cents per day. Unless you are getting your power 100% free and your GPUs, PSU and rest of your rig are 100% free, you won't make any money. Even if your power is 100% free, you won't break even on the price of your GPUs for several years. If your power isn't free, you also have to take into consideration your CPU. Even at idle, many CPUs consume 40 to 50 watts of power. You will also have to add at least 25% on top of your total power consumption because you are losing about that much in heat due to your garbage non-80 plus Thermaltake Llitepower power supply.

 

[vince232]

i have a thermaltake litepower 500w. for the mean time, will it be enough for 3 750ti and mine maybe 16-20 hours a day then ill upgrade to a 650w when i get another card

Please tell me you are joking and that you didn't just buy 3x 750ti's for mining. You are literally not going to make any money. Also, the best bang for your buck in scrypt is the gridseed, unless they came out with an even more efficient scrypt ASIC. The gridseed is $55 to $60 shipped and gets you 300 kh/s out of the box stock. It uses less power than a thumb drive (2.5 watts) and many people have reported that it can be overclocked to around 400 kh/s. By comparison, each 750ti is going to draw around 175 watts and you are barely getting 275 kh/s per card. Oh, and they cost about $150 each vs $55 each for a gridseed (link to a gridseed for $55 shipped). You are going to discover that you are paying more for power than you are actually making (which is going to be about 10 cents USD per day). Unless you plan on buying like 100x GTX 650ti's or 100x gridseeds, the entire concept is a waste - unless you are doing it purely for educational purposes? I was mining scrypt up until around March with my 7950 which gets 650 kh/s and I also had a 270X which was doing 420 kh/s, so a little over 1 Mh/s. By Sept. of last year, I was making roughly $15 per day and power cost me around 15 cents per day. By March, I was making less than a buck per day. I still have my 7950 and if I were to fire it up for mining again, I would barely make 10 cents mining even the most profitable alt-coin. That is a net loss of -5 cents per day. Unless you are getting your power 100% free and your GPUs, PSU and rest of your rig are 100% free, you won't make any money. Even if your power is 100% free, you won't break even on the price of your GPUs for several years. If your power isn't free, you also have to take into consideration your CPU. Even at idle, many CPUs consume 40 to 50 watts of power. You will also have to add at least 25% on top of your total power consumption because you are losing about that much in heat due to your garbage non-80 plus Thermaltake Llitepower power supply.

thanks for the advice. in another forum someone told us that he has 6x 750ti. mined an altcoin for one month 24/7 then traded it to bitcoin and earned him 2.5bitcoins. i dont know what coin he mined though. also i think 750ti only consumes 60w. every review is saying it is 60w

 

[vince232]

i have a thermaltake litepower 500w. for the mean time, will it be enough for 3 750ti and mine maybe 16-20 hours a day then ill upgrade to a 650w when i get another card

Please tell me you are joking and that you didn't just buy 3x 750ti's for mining. You are literally not going to make any money. Also, the best bang for your buck in scrypt is the gridseed, unless they came out with an even more efficient scrypt ASIC. The gridseed is $55 to $60 shipped and gets you 300 kh/s out of the box stock. It uses less power than a thumb drive (2.5 watts) and many people have reported that it can be overclocked to around 400 kh/s. By comparison, each 750ti is going to draw around 175 watts and you are barely getting 275 kh/s per card. Oh, and they cost about $150 each vs $55 each for a gridseed (link to a gridseed for $55 shipped). You are going to discover that you are paying more for power than you are actually making (which is going to be about 10 cents USD per day). Unless you plan on buying like 100x GTX 650ti's or 100x gridseeds, the entire concept is a waste - unless you are doing it purely for educational purposes? I was mining scrypt up until around March with my 7950 which gets 650 kh/s and I also had a 270X which was doing 420 kh/s, so a little over 1 Mh/s. By Sept. of last year, I was making roughly $15 per day and power cost me around 15 cents per day. By March, I was making less than a buck per day. I still have my 7950 and if I were to fire it up for mining again, I would barely make 10 cents mining even the most profitable alt-coin. That is a net loss of -5 cents per day. Unless you are getting your power 100% free and your GPUs, PSU and rest of your rig are 100% free, you won't make any money. Even if your power is 100% free, you won't break even on the price of your GPUs for several years. If your power isn't free, you also have to take into consideration your CPU. Even at idle, many CPUs consume 40 to 50 watts of power. You will also have to add at least 25% on top of your total power consumption because you are losing about that much in heat due to your garbage non-80 plus Thermaltake Llitepower power supply.

can you give me a website which ships gridseed internationally? you cant find one here in the philippines. thanks

got a reply from the other guy. he said he mines with a 6 750ti x11 algo. then trades it to btcoin. dont know what x11 algo coin he mines

 

[smeezekitty]

each 750ti is going to draw around 175 watts and you are barely getting 275 kh/s per card

That is over 100w high since the max a PCI-E slot without extra power connectors can provide is 75w
Probably be about that for ALL THREE

 

[cub_fanatic]

i have a thermaltake litepower 500w. for the mean time, will it be enough for 3 750ti and mine maybe 16-20 hours a day then ill upgrade to a 650w when i get another card

Please tell me you are joking and that you didn't just buy 3x 750ti's for mining. You are literally not going to make any money. Also, the best bang for your buck in scrypt is the gridseed, unless they came out with an even more efficient scrypt ASIC. The gridseed is $55 to $60 shipped and gets you 300 kh/s out of the box stock. It uses less power than a thumb drive (2.5 watts) and many people have reported that it can be overclocked to around 400 kh/s. By comparison, each 750ti is going to draw around 175 watts and you are barely getting 275 kh/s per card. Oh, and they cost about $150 each vs $55 each for a gridseed (link to a gridseed for $55 shipped). You are going to discover that you are paying more for power than you are actually making (which is going to be about 10 cents USD per day). Unless you plan on buying like 100x GTX 650ti's or 100x gridseeds, the entire concept is a waste - unless you are doing it purely for educational purposes? I was mining scrypt up until around March with my 7950 which gets 650 kh/s and I also had a 270X which was doing 420 kh/s, so a little over 1 Mh/s. By Sept. of last year, I was making roughly $15 per day and power cost me around 15 cents per day. By March, I was making less than a buck per day. I still have my 7950 and if I were to fire it up for mining again, I would barely make 10 cents mining even the most profitable alt-coin. That is a net loss of -5 cents per day. Unless you are getting your power 100% free and your GPUs, PSU and rest of your rig are 100% free, you won't make any money. Even if your power is 100% free, you won't break even on the price of your GPUs for several years. If your power isn't free, you also have to take into consideration your CPU. Even at idle, many CPUs consume 40 to 50 watts of power. You will also have to add at least 25% on top of your total power consumption because you are losing about that much in heat due to your garbage non-80 plus Thermaltake Llitepower power supply.

thanks for the advice. in another forum someone told us that he has 6x 750ti. mined an altcoin for one month 24/7 then traded it to bitcoin and earned him 2.5bitcoins. i dont know what coin he mined though. also i think 750ti only consumes 60w. every review is saying it is 60w

That is right, I was looking at the 650ti. It is actually more like 70 watts since you are going to be at nearly 100% load. Most of the reviews are measuring the load when either gaming or running a benchmark test which usually never hits 100% load. But still, that 60-70 watts is about 30 times more than what a gridseed uses. Mining with a GPU is just not smart anymore no matter what card you use or what coin you mine - scrypt or sha. You are about a year or so late to the party.

 

[vince232]

i have a thermaltake litepower 500w. for the mean time, will it be enough for 3 750ti and mine maybe 16-20 hours a day then ill upgrade to a 650w when i get another card

Please tell me you are joking and that you didn't just buy 3x 750ti's for mining. You are literally not going to make any money. Also, the best bang for your buck in scrypt is the gridseed, unless they came out with an even more efficient scrypt ASIC. The gridseed is $55 to $60 shipped and gets you 300 kh/s out of the box stock. It uses less power than a thumb drive (2.5 watts) and many people have reported that it can be overclocked to around 400 kh/s. By comparison, each 750ti is going to draw around 175 watts and you are barely getting 275 kh/s per card. Oh, and they cost about $150 each vs $55 each for a gridseed (link to a gridseed for $55 shipped). You are going to discover that you are paying more for power than you are actually making (which is going to be about 10 cents USD per day). Unless you plan on buying like 100x GTX 650ti's or 100x gridseeds, the entire concept is a waste - unless you are doing it purely for educational purposes? I was mining scrypt up until around March with my 7950 which gets 650 kh/s and I also had a 270X which was doing 420 kh/s, so a little over 1 Mh/s. By Sept. of last year, I was making roughly $15 per day and power cost me around 15 cents per day. By March, I was making less than a buck per day. I still have my 7950 and if I were to fire it up for mining again, I would barely make 10 cents mining even the most profitable alt-coin. That is a net loss of -5 cents per day. Unless you are getting your power 100% free and your GPUs, PSU and rest of your rig are 100% free, you won't make any money. Even if your power is 100% free, you won't break even on the price of your GPUs for several years. If your power isn't free, you also have to take into consideration your CPU. Even at idle, many CPUs consume 40 to 50 watts of power. You will also have to add at least 25% on top of your total power consumption because you are losing about that much in heat due to your garbage non-80 plus Thermaltake Llitepower power supply.

thanks for the advice. in another forum someone told us that he has 6x 750ti. mined an altcoin for one month 24/7 then traded it to bitcoin and earned him 2.5bitcoins. i dont know what coin he mined though. also i think 750ti only consumes 60w. every review is saying it is 60w

That is right, I was looking at the 650ti. It is actually more like 70 watts since you are going to be at nearly 100% load. Most of the reviews are measuring the load when either gaming or running a benchmark test which usually never hits 100% load. But still, that 60-70 watts is about 30 times more than what a gridseed uses. Mining with a GPU is just not smart anymore no matter what card you use or what coin you mine - scrypt or sha. You are about a year or so late to the party.

how about x11 and x13?

 

[cub_fanatic]

how about x11 and x13?

Depending on which coin you mine, you can probably make <$1.00 to $1.50 per day if you use those 3x GTX 750ti's. Let's take the most profitable X11 coin on this page that a google search threw up: (link), "SaffronCoin-X11 (SFR)". Using the profitability calculator it links to (link) and assuming that each of your 750ti's mine at a rate of approx. 2.5 MH/s for a total of 7,500 KH/s, you can expect to make around ฿0.00231704 per day which is equal to $1.47. If you are paying for power and you assume that each 750ti uses 60 watts max plus your CPU at ~35 watts and the fact that your 80 plus rated TT Litepower PSU is losing around 20% at the wall socket, you are using about 250 watts or .25 kw/h. If you are paying 20 cents (USD) per kw/h, that is $1.20 per day. Even at 5 cents per kw/h, you are spending 30 cents per day or nearly 20% of your total income. Now, [strike]lets assume you paid retail for each 750ti or around $140 plus shipping and tax; so $150[/strike]. Actually, lets assume you got them on sale for $120 each with free shipping and no tax from Newegg (link). So, you paid $360 on just the GPUs. It will take you 314 days of 24/7 mining before you pay off just the GPUs (assuming your power cost is 5 cents per kw/h). Add another $150 or so for a motherboard with at least 3x PCIe slots (or you can use risers on a cheap board which will still cost around $20 each + price of board), the price of a 500w PSU, the price of a CPU and price of RAM and breaking even will take even longer. Unless you can find a coin where you are making at least $10 or more per day after power costs, or if you already have the hardware and power is free or very cheap, invest your money and time in something else. Unless of course, like I said before, this is a purely educational project.

 

[vince232]

how about x11 and x13?

Depending on which coin you mine, you can probably make <$1.00 to $1.50 per day if you use those 3x GTX 750ti's. Let's take the most profitable X11 coin on this page that a google search threw up: (link), "SaffronCoin-X11 (SFR)". Using the profitability calculator it links to (link) and assuming that each of your 750ti's mine at a rate of approx. 2.5 MH/s for a total of 7,500 KH/s, you can expect to make around ฿0.00231704 per day which is equal to $1.47. If you are paying for power and you assume that each 750ti uses 60 watts max plus your CPU at ~35 watts and the fact that your 80 plus rated TT Litepower PSU is losing around 20% at the wall socket, you are using about 250 watts or .25 kw/h. If you are paying 20 cents (USD) per kw/h, that is $1.20 per day. Even at 5 cents per kw/h, you are spending 30 cents per day or nearly 20% of your total income. Now, [strike]lets assume you paid retail for each 750ti or around $140 plus shipping and tax; so $150[/strike]. Actually, lets assume you got them on sale for $120 each with free shipping and no tax from Newegg (link). So, you paid $360 on just the GPUs. It will take you 314 days of 24/7 mining before you pay off just the GPUs (assuming your power cost is 5 cents per kw/h). Add another $150 or so for a motherboard with at least 3x PCIe slots (or you can use risers on a cheap board which will still cost around $20 each + price of board), the price of a 500w PSU, the price of a CPU and price of RAM and breaking even will take even longer. Unless you can find a coin where you are making at least $10 or more per day after power costs, or if you already have the hardware and power is free or very cheap, invest your money and time in something else. Unless of course, like I said before, this is a purely educational project.

thanks!. well i think i'll mine what i can with my 260x. i just cant resist to mine new coins. just having 10-20 coins per cryptocurrency will be fine hehe ill just hope my coins will be priced high on the future just like bitcoins

 

[vince232]

can you guys suggest a budget mining rig? maybe under 1k dollars if possible? for x11 and x13 thanks!

 

[smeezekitty]

So apparently Microsoft is going to start accepting Bitcoin despite a strong apparent decline since the mid-year

 

[Mahisse]

Bitcoins are so dying. Gone as fast as they came, Just my 2 cents.

 

[smeezekitty]

Bitcoins are so dying. Gone as fast as they came, Just my 2 cents.

Yeah I figured as much

 

[RussK1]

It's dying that's why Microsoft is investing in it.

 

[Mahisse]

I wouldn't know the reason to why Microsoft starts to accept Bitcoins at this point and I'm too lazy to read up on it but I don't think Microsoft is particular known to be able revive trends. Actually the last many years Microsoft seemed to have invested in things a bit too late in my opinion. The only really success investment that I know of is Skype.

 

[James Mason]

Maybe now that the price stabilized they're willing to invest in it.
I just got a plug n play (mostly, gotta point it to your mining pool) asics mining rig and it's netting me $100 a month.

 

[jaideep1337]

At this point there isn't much point mining. Even x11 and x13 are not profitable. For it to be profitable the price must go up to about 1k USD like it was back in 2013-14. Maybe we might just see a spike this summer.