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Old 11-27-2013, 08:54 PM
chipshot64 chipshot64 is offline
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Default Will AMD Produce Enough Radeons As Bitcoin/Litecoin Hit Record Highs?

In another thread about GlobalFoundries was news about custom ASICs for virtual coin mining --

Quote:
Available in mass scale production starting from the last week of November 2013, the Coincraft Bitminer A1 employs cutting edge 28nm HPP technology from GlobalFoundries and ultra low voltage transistors

https://bitmine.ch/?product=coincraft-ai-asic

The GoldStrike1 chip is fabricated at Global Foundries using the 28nm HPP process, ensuring high clock speed and performance, at lowest possible power consumption. CoinTerra's manufacturing and production lines stand ready for the arrival of the GoldStrike1.

http://au.finance.yahoo.com/news/coi...145123727.html
Now news media is front paging the fact that Bitcoin and Litecoin are reaching all time highs. Looking at a number of articles and comments from readers, it looks like it could replicate a virtual gold rush as media around the world repeat the record high value story.

AMD Radeon graphics cards (especially models like HD 7950) are now being sought after for Litecoin mining proficiency and people are indicating they are making multiple card purchases (as in 4 to 10+) items. Other people have brought up the fact that GF should also be utilized to make AMD graphics chips and it looks like there could be such a demand that they may need to plan for that option.

http://bits.blogs.nytimes.com/2013/1...rrencies/?_r=0

http://www.theverge.com/2013/11/27/5...coin-hits-1000
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  #2  
Old 11-27-2013, 09:58 PM
JonHarris JonHarris is offline
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No.

10 characters.
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Old 11-28-2013, 12:47 AM
Thrillseeker Thrillseeker is offline
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Nobody much uses video cards for bitcoin/litecoin mining anymore. They use specialized ASICs.
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Old 11-28-2013, 02:39 AM
Drunkenmaster Drunkenmaster is offline
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bitcoin, yes, litecoin, no, there are no ASIC's for litecoin yet, and with the price soaring to $30 and the ability to bring in .4 litecoins a day on a single 7970, that is as of today like $13.5 a day income for what is(in the uk) around $1 in electricity......

Bitcoin, a single 7970 can generate about $0.0000000000000000000000001 bitcoins a day now.... which will cost you that same $1 a day in electricity. Bitcoin mining for gpu is utterly dead, for litecoin, it's gone from can get loads of litecoins but they weren't worth the electricity, to actual profit generating today, tomorrow, who knows.

Obviously it would have been better to do it for the last several months get loads of litecoins when they weren't profitable and hope that your stash of litecoins soar in price as they have done.
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Old 11-28-2013, 11:36 AM
Thrillseeker Thrillseeker is offline
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Just noticed Litecoins are up to $43. Wow. They were $2 a month ago.
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Old 11-28-2013, 12:39 PM
tgrech tgrech is offline
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Quote:
Originally Posted by Thrillseeker View Post
Nobody much uses video cards for bitcoin/litecoin mining anymore. They use specialized ASICs.
I've been mining a couple out per week on a 150 HD7870Tahiti, currently have around 30, that's about $1500(A little under 1000) on current OKcoin prices, and with China buying the way it is it doesn't look like that'll slow down anytime soon. Electricity costs for mining over idle use in my config so far is around 10-20. People definitely still can profit on Litecoins.

But on topic-
Yes, they probably will still supply enough, there are far more gamers in the world that people looking to mine Litecoins, and even if some of those people are buying 4 or so GPUs at a time I don't think it's enough to over take that market. Although I found no one was really interested in investing in them when they were at $3, when they still had massive gains to be had, so I really doubt most will now(Although maybe it's just because no one takes financial advice from 15/16 year olds seriously, unfortunately).
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Last edited by tgrech; 11-28-2013 at 12:48 PM.
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Old 11-28-2013, 04:30 PM
themassau themassau is offline
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maybe in the wrong thread but were is the mining computing power used for? or is it just cracking random pieces of code?
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Old 11-28-2013, 05:07 PM
tgrech tgrech is offline
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Quote:
Originally Posted by themassau View Post
maybe in the wrong thread but were is the mining computing power used for? or is it just cracking random pieces of code?
Cracking pieces of code is probably the easiest way to put it. With Bitcoin I believe the encryption is SHA-256, whereas Litecoin uses Scrypt(More memory bound and more complex). The choice of Scrypt for Litecoins is due to the fact that it is more memory bound, as it means ASICs will be far less profitable/feasible. This in itself should mean it'll be a while before people stop Litecoin mining with AMD GPUs.
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Old 11-28-2013, 06:47 PM
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I find the idea of "mining" virtual currency just bonkers tbh. If you can make a few quid at it... fair enough.

Roll on organised and profitable distributed computing, for computing sake. There's got to be money in that for folk who need supercomputer power but don't want to shell out for a whole supercomputer?
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Old 11-29-2013, 02:45 AM
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Quote:
Originally Posted by tgrech View Post
Cracking pieces of code is probably the easiest way to put it. With Bitcoin I believe the encryption is SHA-256, whereas Litecoin uses Scrypt(More memory bound and more complex). The choice of Scrypt for Litecoins is due to the fact that it is more memory bound, as it means ASICs will be far less profitable/feasible. This in itself should mean it'll be a while before people stop Litecoin mining with AMD GPUs.
Given that it's more memory bound, this might mean that Nvidia GPUs might be on a more equal footing for Litecoin. I mean a 780 TI has ~330 GB/s of bandwidth.
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