Cryptocoin Mining?

[chimaxi83]

I get it. I was arguing with a child. Never mind then, adding you to ignore.

Heh, most of that persons posts show how much of an angry little person they must be

 

[philipma1957]

Ah yes, it's per 10 minutes, not day.



Or you'd have to put up the money to keep up.

no I put up 1k for asics never delivered so I got a refund. the problem is lack of the ability to buy an asic thus allowing 3 asic builders or maybe 2 the ability to have huge amounts of the pool. the pool is 52Th.

no one know what asic miner has.?


avalon has sold 300 x 60 + 300 x 60 or 36Th.

They have delivered 18Th.

where is the other 18Th? is it in the 30Th unknown ?


BFL sold 70,000 chips or about 420TH. Do we really know WTF they are doing?


30Th is unknown out of 52Th = not acceptable . just points to huge undercover mining ops by the known asic builders.

 

[Chiropteran]

avalon has sold 300 x 60 + 300 x 60 or 36Th.

They have delivered 18Th.

where is the other 18Th? is it in the 30Th unknown ?


BFL sold 70,000 chips or about 420TH. Do we really know WTF they are doing?


30Th is unknown out of 52Th = not acceptable . just points to huge undercover mining ops by the known asic builders.

While I have some personal worry about BFL, since I have a pre-order with them, I am not really concerned about the future of bitcoins. The cool thing about bitcoins is everyone involved can know the rules and knows the limitations.

Trying to imagine how things are from avalon or BFL's point of view, I just can't accept the idea that they would spend millions of dollars developing an asic to mine coins, and turn around and just monopolize the mining and tank the value of bitcoins. I think this is why they both are trying to make money by selling devices, not by mining directly.

Also, an old axiom comes to mind re: BFL's constant delays. Don't attribute to malice what can be easily explained by stupidity. I don't think BFL is delaying the ASICs because they are seriously mining on them or anything of that sort, I think they are just really inept and also unwilling to give the honest (bad) news about how long it is really going to take to produce their first batches of ASIC.



In other news, difficulty up 30%. Probably be similar increases like this for awhile, as long as ASIC devices are coming onto the network. Still very profitable to GPU mine, though.

 

[philipma1957]

very interesting email today from avalon.


"Batch one have mostly finished shipping, aside from a small number of orders with incomplete/wrong address or phone numbers. We've been getting these orders back from our shipper and getting in touch with people to update their information, this is a fairly quick process. If you have not gotten your order, especially people in Germany or Iceland that uses special characters in their addresses. I highly suggest you open a ticket with our support indicating your order number, full address with phone numbers, so if there is a problem we can pull up new information quickly and let shipping proceed. This also applies to batch two customers, please make sure your phone number is correct, and there is no typo in the address.

Speaking of batch two, we are unfortunately going to be late. This should not be too surprising as the delay from batch one will no doubt carry over. This delay also caused us to make drastic adjustments to our project timeline dealing with anything with a lead time like parts purchasing. We plan to start shipping majority of batch two orders starting on 15th of April. Not all the news is bad news however, originally around this period we are suppose to take this time to organize, make some changes and install a brand new SMT line in our facility. This upgrade will effectively double our production capacity, it enable us to put Avalon into the hands of our customer even faster. The new line is currently scheduled to come online during the last week of April. We expect batch two and three to ship much faster than batch one mainly there is no Chinese New Year and we have overcome the problems encountered in shipping batch one.

On to batch three, we at Avalon did not even wish to sell another batch. If you recall, our original plan was to produce only one batch, sell chips to thwart the centralization of mining, but due to the lackluster performance of our competitors we are here today as the exact centralization we tried to decouple. In addition, this delay is eating into our timeline for this project's future goals and various other projects. To be frank: it was a simple decision of build a mining farm ourselves and mine for a month or so to get the funding for things like the SMT line and next generation development vs. raise the price and sell units trying to get the money earlier to counterbalance the delay we have had. So, we came up with some terms and left the choice to the community.

More details on the F.A.Q. section of the Site. There will also be a follow up newsletter on chips for sale and the trade-in program.

Decide on 8:30AM EST, 3/25/2013. "

Batch 3 not open as of today and it costs 75 bitcoins. about 5000 usd at todays prices. I find it very interesting that even they say things are screwed up and that too much hash is in too few hands. Hold on to your hats!

Price is at 70 usd.

BTW I see this as an admission that they are mining with the second batch. So they may have 10 to 18Th in the unknown of the network mining away as I type.

 

[Mir96TA]

I think ASIC are at play
cause Difficulty: 6695826
There is no way 7970 could have bump the Diffculty that much!

 

[Chiropteran]

Back to $75 after the weekend dip. I bought a few bitcoins during the dip at $62-$64, resold 5 of them to keep some USD in my mtgox account for the next dip. It seems like the most predictable market ever lately, always seems to crash some after hitting a new high and then come back to match or exceed that high a few days later. Obviously this isn't guaranteed to continue to occur, but I'll profit off of it until it doesn't (in which case I'll be losing money, but it's a risk I will take).

I think ASIC are at play
cause Difficulty: 6695826
There is no way 7970 could have bump the Diffculty that much!

Avalon batch 1 has been mostly received and is up and running. Just going to get worse until it gets worse for GPU mining, we are nearing the end.

 

[philipma1957]

Back to $75 after the weekend dip. I bought a few bitcoins during the dip at $62-$64, resold 5 of them to keep some USD in my mtgox account for the next dip. It seems like the most predictable market ever lately, always seems to crash some after hitting a new high and then come back to match or exceed that high a few days later. Obviously this isn't guaranteed to continue to occur, but I'll profit off of it until it doesn't (in which case I'll be losing money, but it's a risk I will take).

I think you could be correct.

if avalon holds up batch 2 and mines 10 to 18th.

asic miner will slowly add. a few Th at a time.

BFL may not deliver for months and months. The network may float in the 70 to 90Th area for 3 or more months. If this happens coins will go up.

 

[Chiropteran]

I should have waited before selling those 5 coins, at this rate I wouldn't be surprised to see $79 by lunch. $76.35 now.

 

[Mir96TA]

........
...



Avalon batch 1 has been mostly received and is up and running. Just going to get worse until it gets worse for GPU mining, we are nearing the end.

Enjoy {have my GPU Mine} while it last ?
Is it worth to get another 7970 ?

 

[Chiropteran]

Enjoy {have my GPU Mine} while it last ?
Is it worth to get another 7970 ?

Not for mining, IMO. It'll make some money in the next few months, but it's not likely to pay off the cost of purchase. At current difficulty a 7970 does about .04 bitcoin per day, or $3. Could potentially pay itself off in 4 months if difficulty doesn't change, but it's a given at this point: difficulty is going up much higher.

Unless you have a need for it otherwise (gaming machine for a kid or friend or something), I wouldn't bother.

 

[Mir96TA]

Not for mining, IMO. It'll make some money in the next few months, but it's not likely to pay off the cost of purchase. At current difficulty a 7970 does about .04 bitcoin per day, or $3. Could potentially pay itself off in 4 months if difficulty doesn't change, but it's a given at this point: difficulty is going up much higher.

Unless you have a need for it otherwise (gaming machine for a kid or friend or something), I wouldn't bother.

Yea I was thinking about upgrading my faithfull 6970 (sell) and upgrade to 7970!
Hope fully it may pay off upgrade cost :$

 

[philipma1957]

Yea I was thinking about upgrading my faithfull 6970 (sell) and upgrade to 7970!
Hope fully it may pay off upgrade cost :$

also possible to switch to litecoins in a few months as they will not allow use of asics.

 

[HydroSqueegee]

also possible to switch to litecoins in a few months as they will not allow use of asics.

speaking of litecoins, cgminer is giving me fits. what hash rate should a 7870 be pulling on average? Its waaaaaay lower than i think it should be.

 

[philipma1957]

speaking of litecoins, cgminer is giving me fits. what hash rate should a 7870 be pulling on average? Its waaaaaay lower than i think it should be.

man don't feel bad I have spent 3 days trying to switch one of the 12 gpus that I have from mining bitcoins to mining litecoins. I am pretty annoyed that I can't get it to work. My fault for running an easy bitcoin pool like bit minter. I can't believe I have not gotten a running litecoin miner after playing with it this long.

 

[HydroSqueegee]

man don't feel bad I have spent 3 days trying to switch one of the 12 gpus that I have from mining bitcoins to mining litecoins. I am pretty annoyed that I can't get it to work. My fault for running an easy bitcoin pool like bit minter. I can't believe I have not gotten a running litecoin miner after playing with it this long.

I spent mist of Sunday mucking with it. It works... for a while. Slowly. until it cant detect the GPU anymore...

out of boredom i have my file server running its CPU mining at a whopping 4khps!

 

[Accord99]

speaking of litecoins, cgminer is giving me fits. what hash rate should a 7870 be pulling on average? Its waaaaaay lower than i think it should be.

In general, an AMD card should be able to get the same hash rate (in khash/s) as it does in bitcoin (in mhash/s).

But litecoin is much more finicky and sensitive to configuration settings and hardware setup than bitcoin and the pools are not nearly as stable.

 

[blastingcap]

Litecoin difficulty will skyrocket as GPU miners transition to Litecoins soon. Not sure if price will follow, because Litecoin isn't as popular.

 

[HydroSqueegee]

In general, an AMD card should be able to get the same hash rate (in khash/s) as it does in bitcoin (in mhash/s).

But litecoin is much more finicky and sensitive to configuration settings and hardware setup than bitcoin and the pools are not nearly as stable.

yea. that means my config is off because im getting about 100khash/s than i think i should be. gonna try out reaper when i have some time.

 

[Zargon]

man don't feel bad I have spent 3 days trying to switch one of the 12 gpus that I have from mining bitcoins to mining litecoins. I am pretty annoyed that I can't get it to work. My fault for running an easy bitcoin pool like bit minter. I can't believe I have not gotten a running litecoin miner after playing with it this long.

that reminds me of the week I spend trying to get a linus miner running 2 years ago

I could never get it stable

 

[Chiropteran]

yea. that means my config is off because im getting about 100khash/s than i think i should be. gonna try out reaper when i have some time.

I'm seeing 112 khash/s avg per 5830 mining litecoins with recommended settings on cgminer...
--shaders 1120 --intensity 12 --worksize 128 -g 1

Bitcoin wise, I'd see 260+ mhash.

Actually, I think I figure it out myself, I have mem clocked down for bitcoin mining, and litecoin mining needs faster memory, lets see what happens...

190khash now per card, getting closer to where it should be.

 

[thilanliyan]

speaking of litecoins, cgminer is giving me fits. what hash rate should a 7870 be pulling on average? Its waaaaaay lower than i think it should be.

Yeah I'm not sure why but my 7950 is getting like half the rate it should be in cgminer scrypt litecoin mining. I've seen others getting what they should and I tried using their settings, but it just doesn't work. CGminer gives me like 300kh/s whereas Reaper gives me 550kh/s.

Also, it doesn't help that cgminer crashes whenever I try to use a different thread concurrency. I have to delete all files and reinstall cgminer for it to work again. A royal pain to try any new settings, so I've stuck to Reaper for now. And I'm using the latest that should allow higher thread concurrency with 7XXX cards.

 

[VulgarDisplay]

Imagine my surprise when I saw someone randomly mention bitcoins being $70 in another thread and I said, hmmm, did I do that for a few weeks a while back? Turns out I had 7.65 bitcoins sitting in my wallet. Now what the heck should I spend my $500 bucks on? or should I wait?

Is it going to go up?

 

[Krynj]

I think there's some speculation that it will reach $100 per coin in the next month or so.

Coworker of mine just cashed out his 12 coins. Think he may have done it too soon.

 

[VulgarDisplay]

I think there's some speculation that it will reach $100 per coin in the next month or so.

Coworker of mine just cashed out his 12 coins. Think he may have done it too soon.

I'm kinda pissed that I stopped mining back in September. I can only imagine how much I would have right now...

 

[HydroSqueegee]

man don't feel bad I have spent 3 days trying to switch one of the 12 gpus that I have from mining bitcoins to mining litecoins. I am pretty annoyed that I can't get it to work. My fault for running an easy bitcoin pool like bit minter. I can't believe I have not gotten a running litecoin miner after playing with it this long.

i finally got it running stable (for at least the past 10 hours since i kicked it off and went to bed) using guiminer scrypt with reaper. One 7870 running at 260kh/s (which feels lower than it should be, but the numbers ive been finding across the net seems like about where it should be).

fired up another miner using my processor to see if my PC can take the load from CPU and GPU all at the same time and letting that run while im here at work today. the extra 22Kh/s wont make a huge difference, but it gives my cores something to do.