Why Bitcoin miners why?

[FreezeFlyte]

Does anyone know when miners will stop buying up the R9 series cards so that they can go back down to the affordable price point they were originally for? I mean come on, i saw the card i bought go up almost $100 in almost a week. Some people can't throw $800 dollars at a graphics card you know?

[miyabwah]

people bitcoin mine with AMD cards? litecoin mining is where it's at.

AFAIK, GPU prices won't go down until litecoin dies.

[IdeaStormer]

Because they are dreamers.

[Bluethulhu]

Maybe when the LTC ASICS come GPUs will drop.

[MeltyMoon]

I'm so happy that I picked up my second 7950 for 220 before this crap happened  <_<

 

It's really depressing now to go on newegg and look at new GPUs

 

Edit-

 

Hell even 7950s are 440 dollars! Oh my goodness....

[FreezeFlyte]

I'm so happy that I picked up my second 7950 for 220 before this crap happened  <_<

 

It's really depressing now to go on newegg and look at new GPUs

Ya a i bought a r9 270x before it jumped and now i was looking at another one for crossfire but i almost had a heart attack when i saw the prices now. Its not worth it unitl they stop buying them and the price reduces.

[Imabigmac]

I finally found an R9 290x MSI gaming edition and its $750.

[flibberdipper]

My 6570 is still the same low price of $64 and some change.

[OBEYSQUIRREL]

people bitcoin mine with AMD cards? litecoin mining is where it's at.

AFAIK, GPU prices won't go down until litecoin dies.

They might not even go down then at the rate other coins keep popping up. There will probably be something else in its place.

[FreezeFlyte]

I really hate the whole online currency buisness personally. The gpus they are using are made, programmed, and advertised for the gaming comunity. Not for some sort of digital currency that by definition doens't exist. I would never invest into something that i could never physically touch or see. Especially a form of "currency". Anyone else with me on that one?

[Hikaru12]

I agree with everyone's sentiments. I wanted to go for a R9 290X but at it's current price point, it's not worth it. For an extra $100 I can just upgrade to the 780 TI. I hate that they're taking a card meant for gaming and using it for some digital currency BS that will burst like all the other digital currencies out there. It's not worth the heat and electricity it produces either. 

[FreezeFlyte]

I agree with everyone's sentiments. I wanted to go for a R9 290X but at it's current price point, it's not worth it. For an extra $100 I can just upgrade to the 780 TI. I hate that they're taking a card meant for gaming and using it for some digital currency BS that will burst like all the other digital currencies out there. It's not worth the heat and electricity it produces either. 

I'm with you 100% on that statement.

[DoubleY]

I agree with everyone's sentiments. I wanted to go for a R9 290X but at it's current price point, it's not worth it. For an extra $100 I can just upgrade to the 780 TI. I hate that they're taking a card meant for gaming and using it for some digital currency BS that will burst like all the other digital currencies out there. It's not worth the heat and electricity it produces either. 

Yes, it is. Don't go spreading information about how mining isn't profitable. It IS profitable, you just have to wait 6 months. This isn't a get rich quick scheme. It's in INVESTMENT.

[DoubleY]

I really hate the whole online currency buisness personally. The gpus they are using are made, programmed, and advertised for the gaming comunity. Not for some sort of digital currency that by definition doens't exist. I would never invest into something that i could never physically touch or see. Especially a form of "currency". Anyone else with me on that one?

They are "programmed" to do computing. Calculations. Not to shoot bullets at an enemy.

[UselessBread]

I suspect that the prices will go down once AMD notices that there is such interest in their products, and tries to sell more.

[MrImnotMLG]

I'm so happy that I picked up my second 7950 for 220 before this crap happened  <_<

 

It's really depressing now to go on newegg and look at new GPUs

 

Edit-

 

Hell even 7950s are 440 dollars! Oh my goodness....

I remember when Sapphire's 7950 was $200 USD.

 

[MeltyMoon]

 

I remember when Sapphire's 7950 was $200 USD.

I remember one Sapphire model was on for $180! I nearly blew up, and it sold out within 5 minutes  :wub:  :wub:  :wub:  :wub:  :wub:  :wub:

 

Edit-

They restocked on that model, and it costs 440 dollars now  <_<

[Hikaru12]

Yes, it is. Don't go spreading information about how mining isn't profitable. It IS profitable, you just have to wait 6 months. This isn't a get rich quick scheme. It's in INVESTMENT.

 

So, waiting 6 months out weighs the costs of running a mining rig 24/7 at 360W+ continously? Unless you're joining a huge mining team or something I don't see the point. Plus using digital coins to inflate real assets is lame. As our derivatives or "speculative money."

 

You'd see a better return investing conservatively in the stock market for the price of one of the cards.

[JAW96]

I'm so happy that I picked up my second 7950 for 220 before this crap happened  <_<

 

It's really depressing now to go on newegg and look at new GPUs

 

Edit-

 

Hell even 7950s are 440 dollars! Oh my goodness....

same here (high five)

[FreezeFlyte]

They are "programmed" to do computing. Calculations. Not to shoot bullets at an enemy.

I never said that it wasn't proffitable i just said that putting your money into something that you can not physically touch or insure is something that IMO is not secure. We have all seen how the stock market works and that can be scary at the best of times. And according to studies, online currency can only be profitable if you yourself are not paying (based on average prices) for the electricity consumption. Along with the high consumption it is by facts leaving a carbon foot print through the form of high wattage.

[DoubleY]

So, waiting 6 months out weighs the costs of running a mining rig 24/7 at 360W+ continously? Unless you're joining a huge mining team or something I don't see the point. Plus using digital coins to inflate real assets is lame. As our derivatives or "speculative money."

 

You'd see a better return investing conservatively in the stock market for the price of one of the cards.

Yes. It's like any investment, it takes time to pay itself off. 

 

Let's use an analogy here; a man builds an apartment building for $1,000,000. Does he make that money back right away? No. He has to wait a very long time to make money back. But, once it is paid off, the profit margins are amazing! 

 

This is why people coin mine. Cause they KNOW it will make money. It's just a matter of when.

 

I have nearly $6,000 invested in mining rigs. And you know what? They've already paid for half of themselves over the past 2 months. Even after the $300 odd dollars paid in electricity. And, the best part is, I still have $800 worth of coins sitting in my wallet, that I could sell along with all my my mining equipment. At the point, I would have made a profit of nearly $1,000! Although, I don't plan on cashing out anytime soon

[Vitalius]

Because they are dreamers.

I'm up to $109 after 1.5 months. Which I did nothing for. But mine.  

Note: I bought the 290X for gaming stuff. The mining is a bonus. 

 

Unless you're joining a huge mining team or something I don't see the point.

You... I... I don't even... Ugh.

When you mine, you join a pool online. Which is a massive team of people mining coins together connected by the internet. That's literally mining 101.

[DoubleY]

I never said that it wasn't proffitable i just said that putting your money into something that you can not physically touch or insure is something that IMO is not secure. We have all seen how the stock market works and that can be scary at the best of times. And according to studies, online currency can only be profitable if you yourself are not paying (based on average prices) for the electricity consumption. Along with the high consumption it is by facts leaving a carbon foot print through the form of high wattage.

Mining is quite profitable. You just need the correct hardware.

[flibberdipper]

Yes. It's like any investment, it takes time to pay itself off. 

 

Let's use an analogy here; a man builds an apartment building for $1,000,000. Does he make that money back right away? No. He has to wait a very long time to make money back. But, once it is paid off, the profit margins are amazing! 

 

This is why people coin mine. Cause they KNOW it will make money. It's just a matter of when.

 

I have nearly $6,000 invested in mining rigs. And you know what? They've already paid for half of themselves over the past 2 months. Even after the $300 odd dollars paid in electricity. And, the best part is, I still have $800 worth of coins sitting in my wallet, that I could sell along with all my my mining equipment. At the point, I would have made a profit of nearly $1,000! Although, I don't plane on cashing out anytime soon

Plane? Where?

[DoubleY]

Plane? Where?

Oh gosh

Thanks. Fixed