ok lets debunk your numbers here to show how incorrect you are. The rising difficulty is irrelevant as it will be harder to mine for both ASIC and GPU's the most profitable coin is NOT lite coin ATM there are 5 others above it: http://www.coinwarz.com/cryptocurre...sha256Check=false&scryptCheck=true&e=Coinbase and you can use a clever mining pool to auto swap and sell your coins and be making more than LTC profitability Firstly the 280 x is what you would be using not the 270 so this goes to show your low knowledge in this area already. a 4 x GPU rig that you can purchase now in AUD as in walk into a store here and give them $$ and walk out with hardware will cost with Risers: $2140 This rig will support 5 cards as well but using these 4 you will get 2800 - 3000 kh/s from it lets say 2900 as an average. The Cheapest ASIC miner you can find with the accessories to make them work is : $2399 USD + Shipping $139 if you import them and get charged GST + Customs fees ( which is a possibiulity so I will include it ) is a total of : $3128 AUD and will get 2900-3500 if you believe tghe marketing so say 3200 kh/s on average So a 3.2kh/s ASIC miner costs $1000 More than an equivalent GPU set up so over a 5 month period the actual profit will be very similar between the two taking into count the initial extra cost of the hardware. and I guarantee you in 5 months time I will beable to sel the GPU's for more than you will be able to sell the obsolete ASIC for.
Coinwarz only has a fraction of the total altcoins shown so there are a lot of newer coins not yet on coinwarz that are more profitable per hash, most auto swap mining pools are a scam (only have very few Scrypt-Jane coins compared to the total amount of profitable coins) they also take fees and set min withdrawal limits or they add addition conversion fees on top. The way to go is solo mining your coins via daemon but you need a lot of good rigs (at least 4 GPUS on every board, can use SATA risers now to rise up for additional cooling) cheap power is essential and a remote server for auto switching coins as well as BOTs for trading out coins. I can now switch coins myself with the server which also monitors my Solar Inverters in real time to kill the cgminer app on sunny days when I make more from Solar input credits than mining, then restart later in the day when mining is more profitable again.
You haven't included power in your calculations, Court Jester. 4x 280s would pull similar to my 4x 7970s, I'd say, so that's approximately $7 per day in power costs. ASIC would be basically nothing. Over a 5 month period (roughly 150 days), that's $1050 in power costs. Still, you'd have the GPUs, which would be worth something.
Yes I have as 150 days is approx where the break even point is with the power costs difference. using an electricity cost of 0.28c per KW/h ( about $1000 ) Profit for the GPU will be approx the same as the ASICS at this point.(150 days) after ALL costs including hardware and power are accounted for. And if I stop mining anywhere within that 5 month period I will be ahead. If in 5 months the ACIS is still useful I will eat my words but I think a 2nd / 3rd gen unit by then would have come along making these obsolete / very hard to do anything with besides weigh paper down. At least with the GPU's I can sell as they have a 2nd purpose. Good luck selling an obsolete ASIC miner for anything near what you paid for it. I am waiting for the lower cost per kh/s units before I jump onto the ASIC bandwagon as at the moment they are not worth the gamble compared to GPU's and to old mate in Switzerland who will then pipe in and say blah blah blah but cooling is an issue no its not. I live on the GOLD COAST in QLD which is a much hotter climate than old mate and have no issues keeping 20 GPUS's in my garage cool with fans.
That is a good point and I do keep an eye out and manually swap 1 or 2 rigs to an new alt when I feel it is worth while but they are not all winners I have a lot of Klondike and Mint coins that are pretty much worth less atm (and scam coins as well ) The problem is every man and his dog are introducing a new Sh!t coin so its hard to pick a winner. I have only been using an auto swap pool for a week now and they are OK, not as profitable as manually switching but a lot easier. That is a good idea about the solar, I am still on the 44c feed in tarrif so might look at powering my rigs down during day light hours since the profits have dropped away a bit and see which is more profitable. I will get my Spread sheet on.
TeamViewer is not a bad program to use for remote access to manually switch coins on the go Mining new alt coins is a gamble but best mitigated by just dumping them as soon as they are mined, don't speculate, I get my coins sent to exchanges on a daily basis and all converted to BTC and LTC now straight away. The multi-coin pools that don't covert on your behalf are usually no good for this reason as a price spike in a coin means your are mining an overvalued coin not necessarily the most profitable for you because if you don't sell it as you mine it then your not getting any value from the temporary over inflated price. I have done okay with most of the new alt coins now, I could have done better but as long as I'm up it doesn't matter what I dumped them for. I keep a float of stable coins with slow block times because I can mine them if difficulty drops but can still sell them on the exchange before everyone dumps the new cheaply mined coins on the exchange, i.e. I still get the higher price while others are still awaiting confirmations.
i dont remember this being an asic vs gpu thread, only that building a gpu rig for litecoin is unprofitable. but since you brought up the asic, yes difficulty is irrelevant when comparing as both face the same difficulty. however there are a number of wrong assumptions: mining the most profitable coin, then storing it, transferring it and then hopefully still selling it takes much time and effort. immediate fluctuations mean the most profitable coin on an autoswitcher will not necessarily be still profitable by the time you have withdrawn your coins and got them to a market to be sold. there is also the thinking that once a coin is on a switching pool it is no longer profitable. the type of hardware is really irrelevant, but since you asked the low power nvidia cards would see a better price/power performance ratio. obviously with 280x your power increases well over 1000w, and also up front costs. the next assumption that asic mining hardware will be worthless is also incorrect. theres currently a good business flipping these on ebay for 2/3 times value. there are plenty of scrypt based coins to continue to mine and with power consumption at light bulb level they should easily hold their value, more than gpu which also get replaced by newer modesl. this can also be seen with asic bitcoin low power technology still holding its value. what would still be profitable is mining new coins and flipping as they get pumped, al la maxcoin etc. also mining asic resistant coins such as vert may still see some value for future speculation.
again showing your ignorance there are several pools that sell the mined coins and pay out in BTC thus insuring profits are locked in at the high point. Not all the pools release athe coins that they are mining and most split the hashing power across diffferent pools to not immeaditly kill the profitability. SO again you show little knowledge in the area. e.g. http://www.clevermining.com again the prices and number provided $2140 AUD is with R9 280x's and a 4 Gpu rig will pull less than 1100w from the wall as for the asic miner holding their value, I doubt it, I don't see the first batch of bitcoin Asics selling on ebay for anything worthwhile. The evidence is already out there that the obsolete script miners DONT hold their value worth a damn. These things are wauyyyyyyyyyyyyyyyy overpriced to begin with so when the prices do drop the 2nd hand market will crash and when the 2nd gen of miners come out these will be worthless. i.e. I predict in 5 months time you will be lucky to get $50 for one 2ndhand I guarantee you I will get more for my GPU. again there are several multi pools that allready do this automatically for you. like i said in an earlier topic a fooll( you ) and their money are soon parted. we will see in a few months who is in a better position.
thanks tiger, im well aware there are pools that automatically convert your alts to btc or ltc and you can trust them totally that they are doing a great job with your coins this doesnt ensure anything about locking in prices at high points, they face the same issues as if you would do it yourself, only you trust them. 280x pulls 250w each + whatever your mobo has on it. bitcoin asic drawing low power still hold their value, just look at any technobit or bitfury miner on ebay. they only mine sha256 but scrypt will be able to mine much more so less reason for their prices to drop, they just switch coins eg to doge. i would print off that guarantee and include it with your gpus when you sell them for 80% of original value i must be talking swedish and losing all my swedish money....
yes rtard I know they use about 250w each ( with most cards are under this ) and what is 4 x 250w = 1000w like I said the rig will pull under 1100w from the wall you really fail at basic maths dont you. well the alternative to trusing an auto switching pool is doing it manually which is possible but not pratical with a life but meh its irtellevant as it is a problem for both GPU and ASIC/ Both of your examples are current gen items look at the previous gen of USB bitcoin miners (e.g. Block Erupter ) and they are selling ( if at all ) for like 10% of the initial cost. in 5 months time this is where you will be with your script ASIC miners, where as I with my GPU's will be around you in terms of profit and still be able to sell them for 70-80% of the new purchase price. I can show you sales of previous gen 7970's selling for upwards of $300 each which is MORE than 80% of their new value. So I am confident that I will get a good price back for my cards. You are a fence sitting idiot who (as proven above ) cant even do simple maths.
If anybody from Aus interested in 3200khash/s Rigs $2590 I gotta move so selling my setup. The current gold standard for SCRYPT mining, in terms of power per kilohash/sec, is the AMD Radeon HD 7950. Best value you can get on the market now. Open air RIGs are tweaked to maximum hashing power for the lowest power draw and ready to go. Plug in turn on and in 30 sec you are mining any scrypt coin. If you don't want to mine and you are hardcore Gamer this is for you too. PC1 1900+ kh/s - 3x Gigabyte Radeon HD7950 OC video cards (f43 bios) - Seasonic 1050W 80Plus Gold Full modular PSU - ASRock 970 Extreme4 Motherboard - Wirelless Lan Adapter - 2,6Ghz CPU - 4GB RAM - 160GB HDD $1650 PC2 1300kh/s - 1x Gigabyte Radeon HD7950 OC video cards (f43 bios) - 1x MSI HD7950 Twin Frozr 3GD5/OC - Corsair RM 1000W ATX PSU 80 Plus Gold Full Modular - ASRock 970 Extreme4 Motherboard - Wirelless Lan Adapter - 2,6Ghz CPU - 4GB RAM - 160GB HDD $1050 - running Win 7 - free remote desktop control software -manufacturer warranty (receipts will be supplied where aplicable) Message me for any questions. Cheers
What will happen if these miners hit the scrypt networks like LTC ? Nethash will skyrocket, difficulty will skyrocket and GPU miners will leave the networks. I think you can already see it now with the asics enterning the networks now. LTC nethash did rise from 100 to 160GH now Daiyly supply of ltc will stay the same, only they will be centralized to the big miners which are willing to invest in these asics miners. No coins will be available for the small GPU miners. So what will happen to the price. I think it will rise, but you cant be sure. The most other question is what will happen with all the existing GPU mining rigs. Some will be shut down but i think most of them will switch to N-scrypt coins like VTC VTC has a big community and a well doing DEV team already. So to have a look into the glasbowl i will speculate in strong rising VTC prices and very strong rising difficulty and nethash for VTC. Also coins like DRK using other algo (X11) could be a good choice. Mining DRK is not profitable at the moment but maybe times will change EDIT: estimated minimum 300 GH Gpu mining power must find a new home within this year. Wether they dissapear from market or they will find a new home
yes 2nd gen ASIC is what its all about I have put in my order for one of the KNC units allready, but wont be here till q4 this year so my GPU's have a little life left yet. put it this way I will be ahead of the first gen asic buyers as the difficulty increase from 3000+ of these miner hitting the network will make them obsolete before their payback period.
you wont see that. There are already other coins asics cant be mined by asics. That was the reason LTC was once born as asics come over GPU mining into the BTC network.
Scrypt mining Asic's will be flooding in by the second half of the year. There is already 2 million dollars in pre orders from Knc with some other serious competitors coming into play , this WILL make gpu scrypt mining obsolete by the end of the year IMO Litecoin being the first to go.
