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Old 02-08-2014, 12:46 PM
 
Location: Vancouver, B.C., Canada
10,959 posts, read 23,491,494 times
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Mining Kit UKO-K140K: AMD Sempron 2.8GHz Single Core, 6 X Radeon R9 290X 4GB, 4GB RAM, 2 X 1500W 80 PLUS Gold Power Supply
Newegg.com - Computer Parts, PC Components, Laptop Computers, LED LCD TV, Digital Cameras and more!
That is correct 6 X R9 290x's + 2 X 1500W 80 PLUS Gold Power Supplies for $4,946 and I could build a PC that would be pretty darn nice for $5K.

my question is how do people afford these set ups and add in the power they would consume that would be a notable increase to your monthly power and utility bill.

Plus it says you can only order a maximum of 3 Mining Kit Super combos for $15K.


pretty sure but I could build over the top home PC or a heck of a decent Server/Workstation and how do the people afford to mine since to get started it looks like it is a large investment in hardware and will suck a lot of power that adds to the cost I guess if the person had already started early on the huge spike in value would mean they could use it to upgrade their hardware.

I just curious that now it is a big thing and all these people are shelling out large amounts of money on get on board and yet the risks now making back the original investment for the hardware are pretty low for people that are jumping on the bandwagon.
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Old 02-09-2014, 10:50 PM
 
1,156 posts, read 1,669,032 times
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I am going to assume you are talking about bitcoin mining, (correct me if I'm wrong because I know there are other mining things out there,) and bitcoins are worth a really hefty sum, they are currently sitting at near $700 a coin. I have personally seen them cap out at over $1000 a coin. If you have a powerful enough miner, you can easily offset the power useage. But then again the smarter thing to have done was start early when the difficulty was low.
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Old 02-10-2014, 02:36 AM
 
Location: Viña del Mar, Chile
16,410 posts, read 26,661,204 times
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Ehh, bitcoins are going to crash and burn in no time. I wouldn't waste your time and money
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Old 02-10-2014, 02:41 PM
 
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I wouldn't say that bitcoin will crash and burn, I don't think it will remain as high as it has been, but by that token unless you already have a powerful enough machine to mine them, I wouldn't bother as it is probably too late in the game to really make a profit from it. This is something that should have been gotten into early on to really make a profit. I do however foresee it becoming a viable virtual currency once the dust of the big boom has settled and the market for it calms down some.
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Old 02-10-2014, 04:31 PM
 
Location: Grand Rapids, MI
82 posts, read 110,776 times
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The motherboard has 4 pci express slots that you can plug a pci express video card into (the long slots). Yet this kit has 6 video cards. How does that work. Not to mention that the video cards they are selling you are two slots wide. And that two of the pci express slots are right next to each other on that board. Thus you can only use 3 of the 6 video cards on that board. But I don't know a thing about Bitcoin mining (or any other coin mining). Maybe someone can explain to me how this hardware is supposed to work together.
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Old 02-10-2014, 05:00 PM
 
1,009 posts, read 1,561,461 times
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Quote:
Originally Posted by burgler09 View Post
Ehh, bitcoins are going to crash and burn in no time. I wouldn't waste your time and money
I told that to myself when BTC came out and they were worth less than 1 dollar each.....
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Old 02-11-2014, 06:15 AM
 
Location: Cary, NC
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Like any gold rush, there is less risk/more profit in selling mining tools to the hopeful than there is in joining the hopeful.

Bitcoin mining profitability calculator | Bitcoinx
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Old 02-11-2014, 07:34 AM
 
947 posts, read 1,201,018 times
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4 Reasons Bitcoin Hoarders Are Screwed | Cracked.com

Everyone should read that.
A lot of people don't think you have to pay taxes on bitcoin money hence why it's popular with libertarians.

Right now mining bitcoins is worthless.
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Old 02-11-2014, 11:54 AM
 
Location: Vancouver, B.C., Canada
10,959 posts, read 23,491,494 times
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Quote:
Originally Posted by Gorath View Post
The motherboard has 4 pci express slots that you can plug a pci express video card into (the long slots). Yet this kit has 6 video cards. How does that work. Not to mention that the video cards they are selling you are two slots wide. And that two of the pci express slots are right next to each other on that board. Thus you can only use 3 of the 6 video cards on that board. But I don't know a thing about Bitcoin mining (or any other coin mining). Maybe someone can explain to me how this hardware is supposed to work together.
That is what I was curious about with the 6 GPU Video cards and no being able to use all 6 of them in any configuration that I can think of with that MOBO and well I guess bitcoin mining is over since now.


Bitcoin, the controversial virtual currency, is watching its market value crumble. It has fallen to $60 this morning.

Just Wednesday, it topped $266 before a dramatic plunge sent it to $120.
Then, Thursday, Mt. Gox – the world's largest Bitcoin exchange – halted trading for 12 hours in an attempt to "cool down" the market.

When trading reopened last night, Bitcoin instantly plunged another 35% to $78.
Now, at $60, Bitcoin has lost 77% of its value from Wednesday's high.

Mt. Gox has been dealing with trading lag issues in recent weeks as popularity of the virtual currency has soared.

Some of these trading lags have been caused by "distributed denial of service" attacks, wherein hackers use large groups of computers to flood a website with bogus connections, preventing legitimate users from connecting and causing the site to crash.

One analyst says hackers are doing this to force Bitcoin prices down so they can scoop them up on the cheap.

The lag that sent Bitcoin traders into a selling panic on Wednesday, according to Mt. Gox, was not the result of a DDoS attack, but was instead due to the rapid influx of new users in recent days.


Read more: Bitcoin Loses 77% Of Value From High - Business Insider


I guess there will be a flood of people selling off a bunch used mid higher end GPU cards unless they decide to try mining another virtual currency Newegg bundling all the video cards like it did now makes sense.

they have to unload all their inventory now stuck in their warehouses that are competing against all the people selling off their the GPUs systems and the market is flooded with video cards and silver and gold rated 100o watt-1500watt PSU.

Might have to shop for a ASUS P9X79-E WS LGA 2011 Intel X79 SATA 6Gb/s USB 3.0 SSI CEB Intel MOBO or ASUS Rampage IV Extreme LGA 2011 Intel X79 SATA 6Gb/s USB 3.0 Extended ATX Intel MOBO

Due to the huge flood of GPU Graphic cards and the higher end modular PSU and find myself a good deal on a i7-4930K Ivy Bridge-E and but can have the fun dealing with some not bad support on dealing with the BIOs issues on both those MOBOs seem to have.

Last edited by GTOlover; 02-11-2014 at 12:29 PM..
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Old 02-11-2014, 12:04 PM
 
1,156 posts, read 1,669,032 times
Reputation: 2124
Quote:
Originally Posted by GTOlover View Post
That is what I was curious about with the 6 GPU Video cards and no being able to use all 6 of them in any configuration that I can think of with that MOBO and well I guess bitcoin mining is over since now.


Bitcoin, the controversial virtual currency, is watching its market value crumble. It has fallen to $60 this morning.

Just Wednesday, it topped $266 before a dramatic plunge sent it to $120.
Then, Thursday, Mt. Gox – the world's largest Bitcoin exchange – halted trading for 12 hours in an attempt to "cool down" the market.

When trading reopened last night, Bitcoin instantly plunged another 35% to $78.
Now, at $60, Bitcoin has lost 77% of its value from Wednesday's high.

Mt. Gox has been dealing with trading lag issues in recent weeks as popularity of the virtual currency has soared.

Some of these trading lags have been caused by "distributed denial of service" attacks, wherein hackers use large groups of computers to flood a website with bogus connections, preventing legitimate users from connecting and causing the site to crash.

One analyst says hackers are doing this to force Bitcoin prices down so they can scoop them up on the cheap.

The lag that sent Bitcoin traders into a selling panic on Wednesday, according to Mt. Gox, was not the result of a DDoS attack, but was instead due to the rapid influx of new users in recent days.


Read more: Bitcoin Loses 77% Of Value From High - Business Insider


I guess their will be a flood of people selling off a bunch used mid higher end GPU cards unless they decide to try mining another virtual currency that get picked up and it seems very risky.

The info your quoting is rather old from last year at about this time, looking at the market now, it is falling, but is still at over $550 a coin
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