Nvidia Is About To Steal The Cryptocurrency Mining Crown From AMD

Discussion in 'Frontpage news' started by (.)(.), Feb 21, 2014.

  1. roki977

    roki977 Member

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    Titan BE is just come out and it would be crazy to expect all new GPUs one month later. I doubt we will se real Maxewell high end and time soon..
     
  2. Black_ice_Spain

    Black_ice_Spain Ancient Guru

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    I would be more concerned about the illegal things done with their money, but whatever, only difference w/ legal things is that they are not protected by the goverments
     
  3. VultureX

    VultureX Banned

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    And you should really learn about constructive criticism instead of attacking on the person. Fact is, it remains an invented data structure that requires needless hours of wasted computations that do not solve any interesting or useful problems. It's purely for profit and it shocks me. There are more useful problems to spend your computing time on, such as F@H.
     
  4. lucidus

    lucidus Ancient Guru

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    +1

    You can't buy anything with these space bucks .. they're useless irl.
     

  5. Denial

    Denial Ancient Guru

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    Uh which is why you go to a bit coin exchange and turn them into whatever currency? ...
     
  6. DarkKnightDude

    DarkKnightDude Maha Guru

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    My worry is all these mining setups for Nvidia and AMD will screw up prices for actual gamers, people who don't give two craps about this mining thing.
     
  7. Denial

    Denial Ancient Guru

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    The reason why the prices are high is because currently GPU's are the best litecoin miners available. ASIC units are being developed to mine litecoins at significantly lower power than a GPU can. Right now there is only one available and its only been out like a week, as more are developed AMD GPU prices will return to normal.
     
  8. CyberPaddy

    CyberPaddy Master Guru

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    bticon, litecoin and feathercon are the way forward, wil probly repace normal currency in 20 year completily an i am all for it. nothin "fed" can do exept embrace it surely?

    ps men, i dont mine but i mak some money buy n sell, it good.
     
  9. terremonde

    terremonde Member

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    awesome

    man this is frackin awesome news!...YES! please steal the crown....an fast...
    I want my ati cards to drop in price. I cant afford this 900$ stuff :banana:
     
  10. Loophole35

    Loophole35 Ancient Guru

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    The "fed" can't embrace it. It can either take it over or destroy it. Coexistence is not something it can do.

    As I've said earlier there are dedicated "mining" GPU's coming out soon.
     

  11. CyberPaddy

    CyberPaddy Master Guru

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    it is coexisitn now tho men so what is different? maybe it bea reverse to what u sayan bitcoin destroy fed or replace it?
     
  12. RighteousRami

    RighteousRami Member Guru

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    ________ALL OF YOU "GAMERS"_________

    OK guys, I am hearing quiet alot of crap talk. You guys are worried by an increase of in my country "$80 AUD" MAX i've seen in stores. Yes it is an increase, but excuse me, how many do you buy? 1,2 MAYBE if your a moron gamer 3.

    Like somebody else said, GPU's are not just used for your games. I also have a 290 in my gaming rig which i do not use for mining. Also it is not as if i have made an exorbitant amount of money. Infact I am still in the negative from the cost of the rig. So before you bitch and moan about the GPU prices, I am still alot more out of pocket and im not being a little bitch. Alot of you people only get a new card when you NEED to. What do you do for the business of high end desktops, actually not much at all. Without us evil miners these companies would barely be able to make a profit which at the moment in crucial to not falling behind the game of innovation.

    Stop being little whiney babies over increase of $20-$80 it looks cheap and you still have reasonable graphics cards like the 560ti i am seeing. You can hold on a little longer if your that cheap to get another card. I myself upgrade my gaming rig also every gen, im doing a whole lot more for the electronics industry than many of you gamers.


    I myself have a rig with 3xR9 270's which does 1200kh at the moment with these BS electricity costs i am only making double what I would over power. But it is being used in a house where instead a 800-1000w radiator heater would have been used. my rig is atleast mitigating the cost of heating and itself. It only uses 490w.

    Also, people concerned about "the things we do with our crypto curencies" you can buy drugs and guns with money too. Infact it would be alot easier. I myself just turn it into a real world currency to put in my account. Is that so evil.

    Yes i do think crypto currency ultimately is annoying on the energy supply overall as i think many people would not have a second use for the rig. If your not happy, do something about it instead of bitching. If you cared that much you would.
     
  13. Loophole35

    Loophole35 Ancient Guru

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    The US government is already going after the creator of the bit coin for many counts of money laundering. That sound like an attempt to eradicate to me.
     
  14. (.)(.)

    (.)(.) Banned

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    So you're saying that miners are keeping the gpu industry afloat more than the enthusiast market:3eyes:

    Have you been mining since the days of Matrox, Voodoo and TNT:3eyes:

    Love it or hate, but when you read the back of a gpu box that isnt a workstation card, every reference is pointed at gaming when it comes to features and performance.
     
  15. (.)(.)

    (.)(.) Banned

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    Yeah, dont steal. The Govt hates competition.

    Cant remember were i first heard that.
     

  16. RighteousRami

    RighteousRami Member Guru

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    I think that miners are contributing alot and i cant give you as figure as I honestly dont know exactly but from what i have seen. I have seen people with i hate to say this over 100 GPU's as much as this is extremley rare, I would say that it is significant.

    yes the cards are labeled for gamers but can you not use folding at home which i also think is a waste of energy because what can you honestly say you have been calculating, can you tell? You could be calculating the chemical equation for a new nuclear bomb how would you know.

    I have only been mining for a month now to be honest. I am doing this for my own curiosity. At my peak i was earning about $20 a day now is only about 8 due to bitcoin prices falling. [​IMG]
     
  17. Aura89

    Aura89 Ancient Guru

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    ...Am i the only one here who doesn't know what the hell everyone is talking about on this thread?
     
  18. Illnino

    Illnino Master Guru

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    Who knows how long this cryptocurrency bubble will last. I guess as long as its free money (besides energy bill) people will continue to try and cash in.

    They way i see it is, yes there is a demand for these cards but there is also enough supply not to warrant a price rise. AMD didn't raise the MSRP so to me its just the stores trying to cash in on some hype. AMD commodities lol
     
  19. shadex

    shadex Master Guru

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    You won't earn anything by mining with GPUs (both AMD and Nvidia). Even Butterfly labs sell units with like 600 GH/s and it will become so obsolete within months to come. KH/s?! You kidding me? You're going to earn a penny and electricity bill will take that away EASILY!

    Secondly, bitcoin difficulty is on the rise: this is the reason why mining will become obsolete fast! It's expensive to buy hardware specific, CPU specific for mining bitcoins such as Butterfly Labs, Neptune, Ants, and etc. It will cost you thousands of dollars annually, if not monthly.

    This article is pointless as of right now. GPU mining was a big thing during 2010, but not anymore.

    EDIT: see the profit calculator below.

    http://www.bitcoinx.com/profit/

    Bitcoin difficulty right now is: 3,129,573,175 - FORGET IT!

    So to speak:

    Bitcoin difficulty: 3,129,573,175.
    Bitcoins per Block (BTC/block): 25.00.
    Conversion rate (USD/BTC): 556.5 (preev.com).
    Hash rate: 1 MH/s.
    Electricity rate (USD/kWh): 0.15 (depending on your state).
    Power consumption (W): 350 Watts.
    Time frame (months): 3 months.
    Cost of mining hardware (USD): $999.00.
    Profitability decline per year: 1.

    1 MH/s = 0.00 USD
    Hardware break even: NEVER!
    Net profit first time frame: -1114.05 USD.

    FORGET IT. KH/s won't earn you a block. If AMD and Nvidia is promoting their graphic card so you can earn bitcoins, prepare for a rude awakening while AMD and Nvidia laughs all the way to the bank.
     
    Last edited: Feb 22, 2014
  20. tr4l1975

    tr4l1975 Ancient Guru

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    https://spendbitcoins.com/places/

    buy stuff from appliances to computers. they're not useless.
     

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