OK, so I started mining Bitcoin with 336Mh/s USB ASICs back when they were $10/each. By the time January hit they were useless, although they still generate about $7/week. Then I bought an overpriced R9 280x and have been making a decent return every week. Now I'm seeing hashing speeds drop and on /litecoinmining I see posts about how there are scrypt ASICs coming. I was really disappointed to hear this as I thought (and have argued this with friends) that Scrypt coining has been generally safer because to get high hash rates we all have to buy the same type of hardware, video cards, which usually only do 1 or 2 generation bumps a year, and those bumps don't always come with huge performance increase. I also saw a few comments about Scrypt-N coins (panda, quark, etc.) How do these hashing algorithms differ from Scrypt coins (litecoin, feathercoin, doge, etc.)? Are they truly safe from ASICs? Should I switch to mining Scrypt-N coins now, and if so, which coins would be recommended? I don't want to switch to a coin that's just going to be a pump and dump as I don't believe they truly help the community.
So I am pretty new to this alt/bitcoin mining thing, but am looking to get into it. I am probably going to buy a r9 280x to mine with. What are the hash rates I can expect with this card? It looks like 750ish GH/s is reasonable? Thanks!
this is the very basic for latecomer always doesn't understand. i keep seeing they insist on mining bitcoin with SHA256 ASIC, i know its fun, its fun to see you generate money out of thin air, but thats not how we do it today because SHA256 ASIC era are gone, its very expensive playing field right now, if you insist want to mine some bitcoin, you should start mining using GPU! why? lets calculate profitability of your SHA256 ASIC, and lets make it really easy by assuming some factor :
you have free electricty
your ASIC does not consume electricity
your ASIC shipping cost is free
you have ASIC right now in hour hand
you bought ASIC for 1BTC price (for this example, i will use ASICMiner Cube 38GH/s which price is 1BTC right now)
now go here you will see you will get 1 BTC in about 75 days right now (see the 2nd column from the rightmost), this value is not correct since it does not account for difficulty increase within 75 days, bitcoin difficulty are increasing about 35% in 2 weeks, thats about 70% per month, you will see the correct calculation is here which you will never get 1BTC within a year, and after 6 months your ASIC doesn't generate bitcoin anymore now lets compare it to GPU miner for Scrypt mining, which i use realistic assumption here
you dont have free electricity, you will pay 0.1$/KWH
your GPU rig consume constant max amount of electricity that it need 24/7
your GPU rig come with shipping cost
you have GPU rig in your hand right now
you bought GPU rig for 1 BTC ( its about 1000$, for this example i will use 2x AMD R9 280X which cost 800$ and will produce 1.6MH/s with cost about 750W/h )
now go here, you will see that on the most profitable coin (first row) you will get 1 bitcoin for about 30 days (its 45 days faster than SHA256 ASIC), how about difficulty increase within these period, this factor is not as scary as bitcoin, lets see difficulty chart for LTC here, you will see that the diff is up and down, by calculating the data history for 1 year, you will get that LTC difficulty increase is about 3% per month on average (this is 25x smaller than bitcoin difficulty change rate), so coinwarz data is not too much way off here by not take into account of difficulty increase TL;DR;
you get 3500% more profit mining scrypt altcoins using GPU than mining bitcoin using SHA256 ASIC, for same price of hardware.
mining using GPU are less risk because you can buy GPU rig anytime, anywhere, no pre-order.
you get 1BTC in 30 days for mining altcoin with GPU, compared to 300+ days for mining bitcoin with ASIC
note: this calculation are made in worst case scenario for GPU compared to best case scenario for bitcoin ASIC thats just prediction and calculation, things will go wrong right? lets see the report from my own GPU mining rigs here, see 2nd sheet (RIG1-Report), this is my earning report day to day in BTC (already running since december 2013), my rigs cost about 2000$ (this is 2nd hand 6x AMD 7970 for 4.2MH/s) and will ROI within 50 days from start if my calculation are correct
GPUs will make a comeback to mining, and in doing so, will destroy the security of the Bitcoin network
The reason why Bitcoin is relatively secure right now is because the cost to mine is extraordinarily expensive. Why is it so expensive? Not because of the cost of the silicon, or even really the cost to manufacture, but because the only use of an ASIC is for mining SHA-256 cryptocurrencies such as Bitcoin. When people pay up to $15,000 for an ASIC miner, they're paying for all the time and effort that went into it. But consider this: What if mining machines become multi-purpose? In particular, what if GPUs return to the fore as competitive mining machines? Now I know what you're thinking; you're thinking 'You fool, GPUs will never come close to the efficiency of an ASIC'. But the thing is, they don't need to be. They only need to be cheap, since the purchase cost of an ASIC greatly outweighs its electricity cost. A 'CoinTerra AIRE' ASIC slated for release in March this year will cost $2499 and do 4500 GH/s. Now taking into account a number of factors like electricity cost and rate of value depreciation, I'd estimate that for a $200 GPU to be competative, it needs to do about 225GH/s - an improvement of 375x on current hardware. Impossible you say? Well, the hash rate of nVidia GPUs has improved by ~70-80x in just a few years, without any intentional focus towards Bitcoin: 5.66 MH/s 8600GT to ~414 MH/s GTX 960. The nVidia GTX 780ti is a top of the line card currently priced at $440 and it does 0.5 GH/s, yet an Ati 280X which costs just half the price does at least 0.7 GH/s. Ati cards have always displayed better performance in mining, but why? I'm no expert on the technical details, so I'll only say what can be deduced and is relevant: GPU designs can be altered to increase efficiency/performance when it comes to Bitcoin mining - this is a proven fact from the Ati/nVidia difference! So far, these chipset makers have no doubt been focused on improving gaming performance. But what if they realize that there are many people who will buy more of their GPUs if they have the added benefit of good mining performance, as in 2011? Surely it wouldn't be too difficult or expensive to rearrange things a bit or slap a few things on - If a bunch of amateurs can create ASICs, how difficult could it be for a multi-billion dollar company to improve the hash rate of their GPUs at minimal extra end cost to the consumer? Or what if gaming just naturally tends more towards GPUs having better hash rates? When this happens, Bitcoin will have a security crisis on its hands. There are millions of people with mid or high level graphics cards. In Q1 2014, AMD and NVidia sold a combined 14 million add-in boards. But let's be conservative - let's use the publically available Steam data, which says that yesterday there were a peak 8.3 million concurrent users online. Steam's hardware survey says about 65% of these are not mid or high level cards, so 0.35 x 8.3 mil = 2,905,000 people with decent AMD or nVidia cards who are conscious users (i.e. not office workers) at a certain time of day. For those 2.905 million gamers to launch a concerted and sucessful 51% attack on the network, their GPUs would only need to do on average 57.14 GH/s. If $200 GPUs were to be doing 225 GH/s, the entire number of ASICs throughout the world would be no match! If you want a 'tl;dr' then go listen to Fenton or Shrem egg you on to buy or something - stay in your little dreamland while the price falls like a rock
I'm a GPU miner, I've been in the game for over a year. I've invested over 40 thousand into GPU mining. This is why I think we will survive.
It all started back in 2013, April 17th was my official 'up and running smooth' date. I remember coming across crypto back in around February of 2013, for some reason I hadn't heard about it before then really. Bitcoin here in Canada was starting to show up in the news a bit and some friends had dabbled a bit in buying the crypto themselves. At first I wasn't concerned with bitcoin, I barely even read about it - not knowing what use it really would have till I took the time to really read into it. Once I read into it further, I found this whole new world unravel before me. I saw a world where my fiat was worthless in a sense, the money itself was 'worth' something but the uses were limited; bitcoin and alts seemed to really allow me to express my beliefs and who I am as a person. Crypto means progress and freedom to me - fiat on the other hand means limited control by the holder of the fiat and full control for the governments/bankers, I do not own my fiat, the governments own the fiat, these bills I have are government issued and I cannot do with them as I please, to destroy them is a felony, with crypto I can do as I please, I don't have to turn it in if the government wants 'it back' because they never had it in the first place, it's no theirs, it's mine. I had a friend who had invested $500 into bitcoin, they were cashing out in April for around $6000. A $5500 profit. They used that money to quit their job, buy a old camper van, suit the camper van up like a mobile home and live out of it now basically. They also bought a empty trailer attachment that they're building a home on so they can travel around the country doing what they love, for this individual they love music and have been in record label bands before but didn't care for it. I thought this was amazing. I decided in march that I would buy two 7950's and start mining litecoin. I mined litecoin with the two cards and eventually did some day trading of the ltc. The day trading ended up costing me $7000 profit since my account got locked out when I sold my iphone which had the 2factor authentication app code and the app didn't transfer to my new iphone 5s that I had purchased and the 4s was reset to factory settings since I had to sell it right away to pay for some of the cost of the 5s. (side note: don't assume iTunes backs up the 2 factor authenticator apps codes!!) my trading account had a lock for a week where if I didn't login for one week the admin would take off the 2 factor authentication and allow me to sign in with just my password. During that week litecoin skyrocketed and my coins I had from day trading plummeted. I ended up with $1700 roughly in btc instead of around $9000. However I still made enough money to pay for the power and for the two cards. I already had the cpu/ram/mobo/psu. All in all it was a learning experience and I broke even/slight profit in a 8 month mining period. I decided it was time to expand and go big. After having friends on the trading exchanges chat rooms, I discussed my expansion operation. Some of my crypto online buddies have gpu farms. One having 126 rigs(3 cards per rig) around 378 cards total, mostly 280x's and a few 7950's(used to all be 7950's). my buddies stated they were not concerned with asics. For one at the time I wanted to expand, no asics were out yet, all rumors. For two, my buddies had the hashing power and had their stuff paid off. For three, we all thought that asic companies will not be able to manufacture asics cheaper than AMD/nvidia can manufacture gpu's. If anything amd/nvidia will make mining cards that work better than their current GPU's and make them explicitly for mining. The cost of ram is very high and GPU makers like amd/nvidia have the cash flow to purchase the memory chips and gpu dies. ASIC companies cannot compete with the demand that amd/nvidia have from their consumers, the manufacturing companies simply cannot tell amd/nvidia that they need to slow down shipments of chips to them because other companies like asic companies want to buy the memory for their applications. The long term ties amd/nvidia have with these manufactures means that they'll always be getting the best rates and the products first for their applications. For forth, ASICS we thought will not be able to adapt very well to changes in the coins code that they mine. with a stroke of a keyboard, a dev can destroy the asic community. For fifth, we thought devs on coins that are to last long term, will most likely want GPU miners to always be profitable. Seeing as ASICS become obsolete so fast(new ones every 3-5 months now days that can obliterate your old asics hashing profitability). Consumers mostly own GPU's, they'd be more willing to buy a higher end GPU even if they didn't play games a lot, just because they knew they could make the electricity bill at the least while supporting crypto and not having to worry about what would happen once GPU's become obsolete. Consumers are weary of asics, they're strange things, they're not useful for other purposes that a consumer can generally utilize(unless they are into mathematics at MIT or something and do computational stuff..)...asics just aren't practical for the every day crypto consumer. Bitcoin is potentially totally different than scrypt in many ways. Not just algorithm based but the way its rolled out. ASICS hit bitcoin and wiped out GPU's/cpu's, GPU's went to scrypt, scrypt started to become profitable and now has become very profitable much like bitcoin. However GPU's now have scrypt-n/jane that ASICS can't currently mine, and for the above reasons where I mentioned amd/nvidia being the kings of manufacturing, myself and other gpu farm miners don't believe that ASICS will be overthrowing GPU's entirely in the long run. If anything the scrypt coin community is going to get tired of asics and their threat to the 51% attacks and adapt the coins to be asic resistant. I've got 46 280x's going. I run one of the most power efficient rig setups that I've ever seen in north america and I recently just expanded from a 13 card setup to 46, I'm here to stay and GPU's are here for the long run. My mining farm friends are not too concerned and they're currently mining away on ltc and wdc. I would be as well but unfortunately since my expansion I need to make some money right now to pay things off, however I am holding some wdc and ltc for the long run from previously mining on the 13 cards I had before expanding. Don't forget that years from now btc and other alt coins will potentially be worth more in fiat. However to me, crypto is worth more than the fiat value. I own it, the government doesn't own it, and I plan to keep mining for years to come to keep supporting our networks. Happy mining!
Seeing how this Subreddit is lacking any sort of info on Feathercoins and the lack of community support we have, I have decided to start a post that would inform newbies about Feathercoin and seasoned vets on the best places to trade. Feathercoin: It is a Crypto Currency that was started by Peter Bushnell. It is a clone of Litecoin (This coin was inspired by Bitcoin). The Feathercoin network generates coins at a decreasing rate. It will generate about 336 million coins which is 16 times more than that of Bitcoin and 4 times more than that of Litecoin. Currently about 25 million coins have been generated. Network hashrates, Pools, Solo mining: Currently a mid end system comprising of 7870 or 7970 will get you abot 400 to 700 kh/s. That means that in a given day you will be mining about 7 to 13 Feathercoins on current difficulty level. However If you mine alone that is solo mining, the probability of you finding a block is hard and it may take a while before you make a coin. To counter this people have started making pools to increase the chances of finding blocks. There are many pools that allow you to have multiple workers so you can setup multiple systems and mine at your leisure. Currently some of the popular pools are: http://www.fcpool.com/ http://give-me-coins.com/ http://www.wemineftc.com/ http://fc.ltcoin.net/ https://ftc.d2.cc/ For a full list of mining pools: http://coinpools.sdfg.org/ftc It is highly recommended to join a pool to make mining profitable. Look at the pools posted above, look at their fee structure, their payout and make an informed decision on which pool to join. Hardware and Mining: Feathercoin utilizes scrypt based mining that is you can use your GPU (the Graphics card inside your system) to mine them. AMD Cards are highly recommended as they output higher hashrates as compared to Nvidia. To give you an idea of the difference a 7870 ghz edition mines at about 375 kh/s whereas a Nvidia 780ti would mine at about 224 to 300 kh/s. If you are seriously considering in investing in this venture it would be best to buy a rig that supports 6 GPU's and buy either the 7950 or the 280x as they have considerably higher hash rates and are affordable to say the least. Something one should be aware of is that mining produces a lot of heat as your system is basically running at full capacity and therefore needs a lot of cooling. People usually build rigs in the open (no case) and use household fans to cool them. Also another thing that is common is to use PCIe risers as they allow greater spacing between GPU cards and effectively help in dissipating heat. Mining uses a lot of electricity so it is best to use a schedule to mine or if electricity is cheap then 6 7950's running 24 hours a day would cost you about 12 to 18 dollars in electricity a month, maybe more depending on where you live. The software to use for mining are Cgminer (https://litecointalk.org/index.php?topic=6925.0), guiminer scrypt (http://forum.feathercoin.com/index.php?topic=961.0) and cudaminer for Nvidia cards. I would advise against Cpu mining as that is not profitable and will simply weigh you down. Invest 250 to 350 dollars in a good AMD GPU and you will be mining much more effectively. Trading: There are many places where one can trade Feathercoins but only a few of them offer FTC/USD exchange. Btc-e (https://btc-e.com/exchange/ftc_btc). Is one of the biggest cryptocoin trading exchanges, it does not offer USD exchange for Feathercoins as of yet but allows you to exchange for Bitcoins. Crypto-trade (https://www.crypto-trade.com/trade/ftc_btc), this trading exchange allows you to trade against the USD making it more favourable to miners however there is currently a lack of volume for FTC as of writing. Other exchanges like Cryptsy, Bter and coins-e are all good but they are heavily dependent on Bitcoins and Litecoins for now. My thoughts Feathercoin is fairly new and its gaining momentum, once big exchanges start listing it against the USD, the venture will become more profitable. For now it is advisable to mine as many as you can and sit on them till value improves or if you have a mining rig that is mining at 22000 kh/s (this will get you about 500 feathercoins a day) then mine the shit out of them and trade them for Btc for profit although I would recommend against this as it it reduces the value of feathercoin. Many exchanges allow you to deposit money via international wire transfers however the minimum is 2000 dollars so keep that in mind before investing real money into this venture. There are alternatives like paypal and okpay that are also accepted but not a lot of people have accounts on those so signup for a website that suits your situation. One last ting we all need to do is spread awareness about Feathercoin, It is a miners coin and the difficulty right now makes it so much more interesting to mine. I will update this page with more information and will answer questions if any to the best of my knowledge. Happy mining My FTC wallet deposit thingy address : 6v1VuL41xGuLG1Bd8usJsuUEkZyac8jKbe EDIT : I realized some of you might have NVIDIA GPU's and are hesitant on getting AMD. Never fear for there is a solution. If you have a motherboard that supports two or more GPU's that is you have more than one PCIe slots than follow these instructions: If you intend to game on your system while you are mining then put the NVIDIA card in PCI slot one and buy an AMD card and put it in slot 2. Now install the drivers in the order Nvidia first reboot and then Amd second reboot. You do not need to plug in HDMI to your AMD card just leave it as it is. Now download gpu miner scrypt and select from the list your AMD card and start mining, its that easy. At night if you want to squeeze in more kh/s then run cudaminer and let it mine alongside your AMD. The best part about this is that you can be mining 24/7 on your AMD card and you will not experience any system slow down while gaming or watching movies. Remember to have atleast two workers workers created so you can mine parallel. If you already have an NVIDIA card then just install your AMD card and install AMD drivers and reboot and run guiminer scrypt. At times you might run into the issue of guiminer not starting, just delete it and re install it and it should work fine in 98% of the cases. This is for those who do not want to invest in a completely new system and would rather use their existing system. You can use cgminer as well but remember the order in cgminer starts from 0 not 1 so if NVIDIA is in slot 1 then it is -d0 -g0 and AMD will be -d1 -g1
48 hours at 750 kH/s, checked my balance... 0.00001301 BTC. Is WP broken? Or a scam? Or am I missing something?
I entered my receive address I'm mining with in here: http://wafflepool.com/miners and I get: Hash Rate: 0.00 kH/s Blocks Found: 0 (show last 10) Bitcoins sent to you: 0.00000000 Bitcoins earned (not yet sent): 0.00000971 Bitcoins unconverted (approximate): 0.00000330 which totals a tiny 0.00001301 BTC (around half a US cent per day). I made somewhere around two hundred times this much per day in January on 200 kH/s using Middlecoin. I've switched back to middlecoin for now, of course, but I'm curious to know what's wrong? Is wafflepool broken temporarily/permanently? Or was it a scam from the start, shortchanging some miners? Or am I just misunderstanding something, doing something wrong? Any thoughts? Using sgMiner 4.0.0 on R9 280X, averaging > 750 khs Edit: Thanks everyone, looks like it was a configuration issue. There was a little "HW" counter at the top of the screen and it was going up every couple of seconds. In all the tutorials and readme.txts I've read on mining, HW errors were never mentioned. Trying to fix it now.
How to fix crashes and low hash rate on my new scrypt rig?
I need help to get past two major problems in my scrypt mining machine (see my config at bottom).
1 problem is system crashes during mining, even with low hash rate
2 problem is the low hash rates. 280x running at 400 k/hs and R9 290 at 180-400 k/hs
So far I have tried mining on Windows 8.1, Litecoin BAMT Linux and SMOS Linux with much luck. On Windows 8.1 I have gone through tons of AMD Driver versions from 13.1, 13.11 beta v9.4, 14.1 beta, 13-12, and bunch of other versions. Even tried couple of DDU clean ups. I have also tried different iners like cgminer, bfgminer, etc. Note on windows 8.1 I can't see GPU temp either. However, the hangs and low hash rates persist. One of the main issues is I can't get around play around with miner settings due crashes. On linux at least I can see GPU temps. But from my testing the system still hangs when running at 400 k/hs on my two R9 280x or 180 k/hs on R9 290. My setting for above on cgminer was (2x 280x and 1x 290 at the end): cgminer.exe --scrypt -I 12,12,12 -shaders 2048,2048,2560 --auto-fan --target-temp 65 Here is my hardware config: MSI Z77A-GD65 Motherboard(highly recommended on bitcoin.org board) Intel Celeron G1620 Corsair RM 850W G.SKILL 8 GB (4GB x 2) Sapphire Radeon R9 280x MSI Gaming R9 280x XFX R9 290x R9-290A-ENFC Anyone got any suggestions on what to try next? Seems like very hard to mine effectively, for me atleast...
Hey guys, I'm a new shibe but I've been watching this whole dogecoin thing since it came out and I want to tell about my adventure... I remember hearing about dogecoin when it first came out, and my first thought was basically "well this is kind of stupid that this is a thing now but what the hell I'll check it out." I was mining litecoin at the time on just a ATI 5830 which only gets like 275 kh/s for me, so dogecoin felt more fun when I started mining it at such a low difficulty. Anyways, I traded chunks of doge into litecoin a little at a time but then like a week ago I was impatient and had accumulated like 140k doges when the exchange rate was about 43 satoshis, and since I was impatient and wanted to actually buy something, I traded ALL of them for litecoin, which I then added to my other litecoin stash on BTC-E and then switched the whole thing into bitcoin. Then I bought a R9 270x from bitcoin store and was all proud of myself because I bought a video card with only mined coins! Now I'm sitting here looking at the exchange rate and my head is exploding. It's cool having that video card (hashing away mining more doge now) but when I see how much that doge I spent is worth now it's kind of bittersweet, especially with the huge difficulty increase. I could have got a 280x with only my mined doge at this point without having spent any of my other coins! It doesn't bother me too much though because it's all part of the trip to the moon right? So yeah that's my story, and I'm definitely having more fun with dogecoin than I thought I would initially even with my occasional losses (I wasted a bunch gambling too early on lol). I'm also completely new to reddit by the way, so... sup guys?
Tagged as:amd cards for mining AMD R9 280X Hashrate bitcoin energy consumption cryptonight gpu CryptoNightV7 Mining Hashrate gpu hashrate gpu hashrate ethereum lbry coin mining mining decred pascal coin mining R9 280X CryptoNightV7 sibcoin mining z cash miner. Leave a Reply Cancel reply. Your email address will not be published. Required fields are marked * Comment. Name * Email * Website ... Sapphire Radeon R9 280x Hashrate : GeForce GT 750M: 0.45 MHash/s: Ethereum: 55: 1033-Gygabyte: Nvidia: Gygabyte GeForce GT 750M Hashrate : HD 7870: 12.2 MHash/s: Ethereum-1100 MHz-Gigabyte: AMD: Gigabyte HD 7870 Hashrate : GeForce 840M: 1.66 MHash/s: Ethereum---Nvidia: Nvidia: Nvidia GeForce 840M Hashrate : GeForce GTX 560M: 1.85 MHash/s: Ethereum-1550 MHz-Nvidia: Nvidia: Nvidia GeForce GTX ... The Bitcoin hashrate is number of possible solutions (hashes) being generated per second. As of January 2020, the Bitcoin hashrate peaked at 131 EH/s. Bitcoin mining also generates new Bitcoin. When a Bitcoin miner finds the correct hash to solve the next Bitcoin block, the miner is rewarded with Bitcoin. Currently, 6.25 Bitcoin are created when a block is solved. Bitcoin Mining Guide. To ... *Please note that values are only estimations based on past performance - real values can be lower or higher. Exchange rate of 1 BTC = 12982.45 USD was used. Was bedeutet Hashrate überhaupt? Zunächst einmal: wer sich mit Kryptowährungen auskennt, ... Radeon R9 280X: ca. 490 Hashes/s: NVIDIA: GeForce GTX 980: ca. 540 Hashes/s: AMD: Radeon RX 580 (4GB) ca. 570 Hashes/s: AMD: Radeon R9 380X: ca. 570 Hashes/s: AMD: Radeon RX 570 (4GB) ca. 630 Hashes/s: AMD: Radeon RX 470 (4GB) ca. 650 Hashes/s: AMD: Radeon RX 570 (8GB) ca. 650 Hashes/s: NVIDIA ...
Questions for the modification Sgminer on e-mail - [email protected]r.ru Time to improve your miner no more than 30-40 minutes. Bitcoin Gold mining Hashrate & Power consumption on RX VEGA 56 GTX 1080 Ti 1080 1070 1060 1050 Ti 980 Ti 980 970 960 RX 580 RX570 RX ... Bitcoin Mining Rig 5x Radeon HD7950 ферма для майнинга биткоинов обзор / review - Duration: 3:39. ARSI (АРСИ) 53,140 views 3:39 Bitcoin its hash rate dropped 25% since the halving on the 11th of May. What does this mean? Can there be effects of this on the price? #Bitcoin #Hashrate #mining *** Social media *** Last time bitcoin hash rate took a nosedive to a new low, bitcoin price turned bullish. This is what btc price charts tell us! #Bitcoin #btc Headlines: https...