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[Official] BitCoin LiteCoin DigitalCoin and all Crypto Currencies Club And General Information Thread - Page 740

post #7391 of 22311
I've heard from someone that in order for Litecoin to achieve parity with Bitcoin, it will have to be 1/4 Bitcoin's price (as there are 4 times as many Litecoins). He said that for this to happen, people would have to be investing equally with their money, and be putting roughly the same amount of fiat money into both coins.
post #7392 of 22311
Quote:
Originally Posted by chronicfx View Post

Do we have an eta on these asics?
http://www.coindesk.com/scrypt-miners-cryptocurrency-arms-race/
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post #7393 of 22311
Is DOGE dying? I have watching the market close since I have a 1+ million doge and it has only slowly been falling!

I'm going to hold and hope for the best. Just curious to what you guys think
post #7394 of 22311
Quote:
Originally Posted by Jeffinslaw View Post

I'm getting really worried about these ASICs for scrypt... I finally have the money and the financial backing of my grandfather to build a large mining farm. He has done a lot of research and is confident that he is making the right choice to invest.

I'm just going to start out with two racks of 6 GPUs each. They will be run at college until I can afford my "mother of all" mining farm. A system that has 4 external PCIe expansion chassises that will give me a total of 32 R9 280X's for a total of 22.4Mhash/s. Should net me a pretty nice chunk of change until the ASICs ruin things.

Jeffinslaw

I would really discourage you from investing that much money into mining. If you buy a new mining system with the most efficient mining components for the price (like the 7950/280x), it will take something like 100 days to pay off. That scenario doesn't even consider a rise in difficulty or possible introduction of ASICs into the market. I would be really careful about dropping $12,000+ on GPUs alone to just mine considering this. I mean imagine being short over $12,000 for over 3 months being uncertain if you are going to be able to break even. In 3 months we saw BTC explode 1000% in price, imagine what the market will do in the next three months. No one knows. So please make sure you want to do this is all I am saying.

Good luck!
    
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post #7395 of 22311
Quote:
Originally Posted by ivanlabrie View Post

Undervolt that sucka...my cards never go above 80c unless ambient's above 28c. (nice rig tongue.gif athlon ftw)

Good idea. Maybe this ATI utility might work if I can't undervolt in cgminer... hope I don't have to flash the BIOS.

I got the computer running with one power supply. The 20+4 connector didn't snap in all the way. Those split power connectors can be fidgety sometimes!
post #7396 of 22311
Quote:
Originally Posted by blkdoutgsxr View Post

Because the price is not a function of difficulty solely, there has to be a demand for the coin. People who are mining too often look at prices from their own perspective, a transaction requires someone to want to give you x$ for your coin, and the problem has recently been that people are basing what they think a coin is worth on what they think is going to happen in the future to the price of the coin when they have no reason to think it will go up or down; This is why the market is so volatile . Sooo... What would cause an increase in demand? Well either people will have to think that some script coin in particular will become more widely accepted, there would need to be added features, there would have to be something that would cause you or someone else to say, 'yes I am willing to pay more USD(or w/e currency you normally use) for this coin. It is wishful thinking to think that just because the difficulty rises that it somehow raises the price (though it would be nice). It is possible that people will buy buy buy coins when ASICS do release, but this will just cause a bubble that will eventually leave people who did not bail out stuck with coins. We are basically printing money here, we have to stop and look realistically what the 'value' is of this, and IMO the value is currently price of Elec + some small percentage. There is nothing spectacular right now about these coins, other then the ability to make or break your wallet.

I just think it is all a big game of trading since it is all fiat, I don't think 99% of the people out there actually care about actual usability or features. The same thing with why Bitcoin went to $1000.
Quote:
Originally Posted by ccRicers View Post

I've heard from someone that in order for Litecoin to achieve parity with Bitcoin, it will have to be 1/4 Bitcoin's price (as there are 4 times as many Litecoins). He said that for this to happen, people would have to be investing equally with their money, and be putting roughly the same amount of fiat money into both coins.

Well yeah sure. I don't know why people would go with Litecoin over Bitcoin though other than to wait for some kind of big pump in LTC. BTC has around a 15.5x larger market cap than LTC right now.
    
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post #7397 of 22311
Quote:
Originally Posted by Willanhanyard View Post

I would really discourage you from investing that much money into mining. If you buy a new mining system with the most efficient mining components for the price (like the 7950/280x), it will take something like 100 days to pay off. That scenario doesn't even consider a rise in difficulty or possible introduction of ASICs into the market. I would be really careful about dropping $12,000+ on GPUs alone to just mine considering this. I mean imagine being short over $12,000 for over 3 months being uncertain if you are going to be able to break even. In 3 months we saw BTC explode 1000% in price, imagine what the market will do in the next three months. No one knows. So please make sure you want to do this is all I am saying.

Good luck!

The first rig I am being sponsored by a company to build it, super stoked about that! thumb.gif With the profits from that, I will be able to make another rack that I can use at school. Then, with my grandfather's investment money, I will be able to start the build process of the large miner. The return is about 40 days when I calculated it and I plan on having these things running here within a week or two. I feel confident that I can make my money back before the ASICs ruin everything.

Thanks for voicing your concern! I appreciate everyone's input! thumb.gif

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post #7398 of 22311
I hope you will be mining dogecoins with all that power thumb.gif
post #7399 of 22311
Quote:
Originally Posted by ivanlabrie View Post


You're doing it wrong that's why...i 15? why so low thread concurrency???

Can you change gpu voltage using afterburner? If you can't increase it then you'll be limited oc wise.

Try these cgminer settings please, before jumping to conclusions: --thread-concurrency 8192 -I 18 -g 1 -w 256 -v 1 --gpu-memclock 1250 --gpu-engine 850

Also uninstall those drivers and install catalyst 12.8 and sdk 2.8...your card isn't a newer gen card, those drivers slow it down.
I had been trying settings I found in the mining comparison chart just to get started.

I don't have MSI Afterburner on here, but AMD OverDrive allows under and overvolting.

The new config settings have boosted the card up to ~416 Kh/sec, but it renders the computer pretty much unusable for web browsing while its mining (I could barely type this message up on it due to the input lag on everything i typed).

What does SDK 2.8 provide?
 
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post #7400 of 22311
Quote:
Originally Posted by arcade9 View Post

I hope you will be mining dogecoins with all that power thumb.gif

I will be mining the most profitable coin and then converting to either Litecoins or WDC. Either of those coins have the biggest potential.

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