World's Most Elaborate Bitcoin Mining Operation?

bucketlist said:
I wonder if the cost of building and operating these are worth the process?
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Yeah, they will quickly make a profit.

And once all the bitcoins have been mined they and many other will be left with purpose build encryption cracking devices.
 
Since the bitcoiners are going to ASIC powered systems this should cause the price of high end video cards to drop because the demand will slack off.
 
Dr. Righteous said:
Since the bitcoiners are going to ASIC powered systems this should cause the price of high end video cards to drop because the demand will slack off.
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No, ASIC's have been around for a while now.

Only bitcoins are mined with ASIC's (and a couple other worthless coins not worth mentioning), all other coins are mined via GPU's, ASIC's wont work with Scrypt Coins.
 
until they make an ASIC for it?
 
leeleatherwood said:
No, ASIC's have been around for a while now.

Only bitcoins are mined with ASIC's (and a couple other worthless coins not worth mentioning), all other coins are mined via GPU's, ASIC's wont work with Scrypt Coins.
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Wow, didn't know there was a difference.

So Bitcoins are "worthless" now? (not worth pursuing I think you mean). Can you elaborate?
I'm not into this kind of thing but I find it fascinating.
I find it laughable when people say "it's not real money".
Technically the dollar bill in their pocket isn't real money either.
 
FLECOM said:
until they make an ASIC for it?
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There is not yet even a viable FPGA solution to Scrypt yet, much less an ASIC.

It will be years before ASIC's for Scrypt are ready unless some huge company puts a lot of $$$$ into the R&D.
 
Dr. Righteous said:
Wow, didn't know there was a difference.

So Bitcoins are "worthless" now? (not worth pursuing I think you mean). Can you elaborate?
I'm not into this kind of thing but I find it fascinating.
I find it laughable when people say "it's not real money".
Technically the dollar bill in their pocket isn't real money either.
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No Bitcoins are not "worthless", but it is worthless to try to mine then with GPU's. It is horribly inefficient now. There are two main types of Coins. SHA256 and Scrypt. Only SHA256 can be mined with ASIC's.

Bitcoins are the only SHA256 coins worth pursuing, the other ones are garbage.
Litecoins and a few other Scrypt coins are worth mining.

Scrypt coins are still very profitable with GPU's. I have been making ~$600 a month. Just added 7 more 7970's to bring it up to ~$1000 a month. Hardware pays itself off in about 5-6 months. But since the 7970's dropped in price so much they should pay for themselves in about 4 months now.
 
Yeah, but where is the vault full of coins to jump and swim in? A large amount of barrels in crysis does not count :p
 
That's pretty [H]ard!

Sweet and most likely will pay for itself quite quickly.

Can't wait to see the upgrade! :D
 
Youn said:
Yeah, but where is the vault full of coins to jump and swim in? A large amount of barrels in crysis does not count :p
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scrooge-mcduck.jpg
 
if i can make 500/month (conservative instant estimate) with two 290s and two 7970s via LItecoin (recent price spikes are awesome)

This guy must be raking in cash hand over fist currently.

Sure - the price of BTS/LTC might crash, but it always recovers.

Holy crap that's just an amazing setup *drools*
 
leeleatherwood said:
No Bitcoins are not "worthless", but it is worthless to try to mine then with GPU's. It is horribly inefficient now. There are two main types of Coins. SHA256 and Scrypt. Only SHA256 can be mined with ASIC's.

Bitcoins are the only SHA256 coins worth pursuing, the other ones are garbage.
Litecoins and a few other Scrypt coins are worth mining.

Scrypt coins are still very profitable with GPU's. I have been making ~$600 a month. Just added 7 more 7970's to bring it up to ~$1000 a month. Hardware pays itself off in about 5-6 months. But since the 7970's dropped in price so much they should pay for themselves in about 4 months now.
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Wow. So are there MB or backplane board available with that many PCI-E slots??
What kind of system do you run these on?
I know CPU power needed is minimal but supporting that many high end video cards takes more than your average hardware.
 
bucketlist said:
I wonder if the cost of building and operating these are worth the process?
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Easily. He'll make back the cost in a matter of weeks, even if the price significantly dips.

That's what has become truly infuriating...a system that was supposed to be speculator-proof has been broken by those with massive investment capital.
 
Dr. Righteous said:
Wow. So are there MB or backplane board available with that many PCI-E slots??
What kind of system do you run these on?
I know CPU power needed is minimal but supporting that many high end video cards takes more than your average hardware.
Click to expand...

Windows starts acting weird after 4 GPU's but 5 is doable, 6 GPU's and things start to get annoying. Its best just to stay at 5GPU's IMO.

This is the motherboard we use: http://us.msi.com/product/mb/Z77A-GD65.html

Each rig takes a standard ATX power supply to power the motherboard + 1400watt 12v power supplies for the GPU's.
 
leeleatherwood said:
Windows starts acting weird after 4 GPU's but 5 is doable, 6 GPU's and things start to get annoying. Its best just to stay at 5GPU's IMO.

This is the motherboard we use: http://us.msi.com/product/mb/Z77A-GD65.html

Each rig takes a standard ATX power supply to power the motherboard + 1400watt 12v power supplies for the GPU's.
Click to expand...

Very interesting. Thanks for the input.
I did notice there is a linux client for LiteCoins.
Have to wonder about the performance of a windows based system compared to a linux based one for mining.
Maybe performance wise there is not but there is no licence to purchase for linux. :D
 
It's too bad mining for bitcoins doesn't do anything useful, like fold proteins for cancer research. So much wasted electricity.
 
_________ is such a waste of money and energy.
Place anything in the blank.
What can't be reduced to say its a waste of energy and money?.. ooh I don't know, food, water, medicine, minimum shelter? Everything else, even education for all could be considered, 'a waste of money and energy' since we don't need everybody to be a doctor or a proper farmer, so its not like everyone needs to be educated or anything. Even most clothes are a waste of money and energy, not your.. you know stuff for cold weather since that is more like shelter than clothes.
 
Cmdrmonkey said:
It's too bad mining for bitcoins doesn't do anything useful, like fold proteins for cancer research. So much wasted electricity.
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Pretty much this. Lets all build supercomputers to perform arbitrary meaningless calculations to produce an unstable pseudo currency out of thin air.
 
Uvaman said:
_________ is such a waste of money and energy.
Place anything in the blank.
What can't be reduced to say its a waste of energy and money?.. ooh I don't know, food, water, medicine, minimum shelter? Everything else, even education for all could be considered, 'a waste of money and energy' since we don't need everybody to be a doctor or a proper farmer, so its not like everyone needs to be educated or anything. Even most clothes are a waste of money and energy, not your.. you know stuff for cold weather since that is more like shelter than clothes.
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That's a sound argument you have there. Education, medicine and clothing is a waste of energy too so leave my bitcoins alone!
 
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