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7970 mine faster but are more pricey but i was thinking of picking a GPU for Litecoin mining
 
I was thinking of a good cheap option to get money to buy a high end gpu and a proper monitor eventually...hence the 5870's. They can mine alright, they are good for benching on cold with vmods and they are cheap. Can't beat that...Plus a pair of em would make decent gaming cards for 1280x1024 anyway, right?
 
Don't mistake my knowledge for favoritism for Bitcoin. It is pretty worthless to be mining this late in the game. ASIC is taking the stage by storm, just like when GPU took over CPU. Don't bother wasting your money.

If (this is a big if) BFL isn't actually ripping everyone off and actually releases a functional product, the cards you buy for this will be hilariously out powered.
 
There are other asic companies that have already released some hardware. The only reason that it is anywhere close to being profitable to mine with gpu's is the price is going up faster than the difficulty. That will likely not last long...
A better strategy would be to watch the price and buy when it dips down.

The top graph here shows the $ per bitcoin in blue. The difficulty is shown in red. You can see the spike in both, there at the right side. I expect the difficulty to keep going up very rapidly. I would guess that the price will level off a bit or could even go down.
chart_large_lin.png
 
I wonder what would happen to the prices if bfl does turn out to be a scam, or their product fails....
 
I expect it to follow the same trend it did back in 2011 when the exact same thing happened. If I had any, I'd certainly be selling right now, before the bubble popped.

xsuperbgx said:
I wonder what would happen to the prices if bfl does turn out to be a scam, or their product fails....
Click to expand...
I can say for sure that the price of comedy gold will skyrocket.
 
i agree if you buy a GPU just to mine your wasting money because most likly you will not make what you spend
however if you buy a GPU to play games and when your not playin games Mine BTC i say go for it!
 
thideras said:
I expect it to follow the same trend it did back in 2011 when the exact same thing happened. If I had any, I'd certainly be selling right now, before the bubble popped.

I can say for sure that the price of comedy gold will skyrocket.
Click to expand...

Bitcoin prices are not just up due to the expectation of BFL's ASIC. Orders have already been paid for (and current orders will never turn a profit by the time they are shipped). So the current market price is because of other factors like the spread of bitcoin throughout the internet, and an increasing number of businesses that accept BTC for payment.

If bitcoin is to ever succeed, which I think it will, the market cap must be equal to or greater than the total fiat in circulation, and BTC has a long was to go. The current market cap is under $500 million USD. That means long term, the price is going up, up, up!
 
ChanceCoats123 said:
So the current market price is because of other factors like the spread of bitcoin throughout the internet, and an increasing number of businesses that accept BTC for payment.

If bitcoin is to ever succeed, which I think it will, the market cap must be equal to or greater than the total fiat in circulation, and BTC has a long was to go. The current market cap is under $500 million USD. That means long term, the price is going up, up, up!
Click to expand...
Or a bubble. I know you have an account "over there", but I'm not sure if you are serious. There is absolutely no way Bitcoin could replace even a single country's currency. No real business take it. Reddit* is, well Reddit. The BitcoinStore** is a joke and can't even compete with anyone. Etc.

*They came back with numbers and reported that they spend more money paying people to process the transactions than they actually make off taking payments.
**He need to make 800k per quarter to keep his contracts and is somewhere around 50k. Good luck.

ivanlabrie said:
I think a 7850 would fit the bill...350 k/hash approx is relatively good, but maybe a good 5870 deal shows up and I grab two of em. :rolleyes:
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Again, it isn't worth buying a graphics card to try and make money. Just since a group put their ASIC products online, it jumped the difficulty some 30%, and they plan to add more. That isn't even including the other companies. Again, don't waste your money.
 
This looks very very similar to the previous bubble. Note the price increase rate in that chart, that's not a sustainable rise.
The rise from $5 to $15 is a sustainable rise.

The big question, really, is: Do you think there will be a bigger bubble later?
 
Considering the number of people saying they will be buying in "after the next crash", I'd say it is a pretty poor bet to wager on.
 
Oh don't get me wrong, I'd love for bitcoin to become a larger part of the world's economy. When I say it will succeed though, I don't necessarily mean it will become a country's currency. Just that if it is to become a larger part, there needs to more that $500 million on circulation.

Ivan, buying gpu's with mining in mind is flat out a bad idea. So if you want to purchase a card, plan on using it for something else, and do not expect it to pay itself off... well, ever.
 
I was thinking of a good cheap option to get money to buy a high end gpu and a proper monitor eventually...hence the 5870's. They can mine alright, they are good for benching on cold with vmods and they are cheap. Can't beat that...Plus a pair of em would make decent gaming cards for 1280x1024 anyway, right?
Click to expand...

I have purchased hardware from one person on the bitcointalk forums and had great success, they prefer bitcoin for payment.

5870s go for about $110 over there
 
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I've got the capability for 2000+ kh, but I've never gotten the mining rig to work properly mining ltc. I'll have a hash rate on the machine that's pretty high, and I'll see maybe a sixth of the rewards that I should.
 
I'm mining ltc on my cpu, client and pool show about the same numbers, 65kh/s using 7 threads (probably not worth it, just learning). I'm using this pool http://ltc.kattare.com/gettingstarted.php

I plan to make the switch once it gets warm, seems like they wont use nearly as much power since gpu speed is not as important as memory speed.
 
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I used to CPU mine and I was getting the right amount, but now that my hash rate has grown, it's like the pool can't see it all.
 
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