Future of Feathercoin mining
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I’ve only recently join the crypto world and the amount of information out there about this is just mind boggling…
I’ve been mining FTC with my GPU (~700kh/s) and so far i’ve avoided my urge to buy a mining rig, but I would like to upgrade my mining power in the near future (let’s say in the next 4-6 months). So my question to you, FTC community, is simple: What is the best route to follow?
Route 1 - Buy a mining rig ASAP!! Sooner is better when it comes to FTC mining and 6 months in crypto is a lot, which means I would have lost the early mining phase of FTC by then.
Route 2 - Wait for Lhizy’s (is that how it is spelled?) USB thingy’s which are as expensive as a mining rig (mining power wise) but much better in power consumption.
Route 3 - Wait for Alpha Technology’s Scrypt ASIC’s (is this company to be trusted) which will not be as good as SHA256 ASIC’s but still will be better than GPU mining in mining power and power consumption.
Route 4 - Some other option which my obviously poor knowledge in this area doesn’t know of.
Waiting on your comments now… feel free to correct any of the above options if wrong assumptions were made and let me know what you feel about each one!
Regards
Thytos -
MrFeathers +1 rep :)
So you make a good point when deciding to spend 2000$ in a mining rig or directly in coins. My view here is that you are always better having the hardware (risk-wise) simplybecause if for some awkward reason crypto world collapses tomorrow, you will still have something left at the end of the day. Also im not here for fast profit (which would be a valid reason to spend money directly in coins).
As for the 3 options, I guess we are on the same line regarding Alpha ASIC’s. As for the USB i’m not sure… depending on it’s arrival (1 month? 2 months?) we are talking of roughly the same $/khash as GPU mining, but with less power consumption and probably more scalable… wouldn’t that be a good option? Though if the crypto world collapsed you would be hanging with a bunch of worthless USB stickers… maybe sell them on ebay as memorabilia :)
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Buy a GPU mining rig, GPU mining aint going nowhere for a while, and as Mr.Feathers says, GPU’s have great resell value.
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I went the mining route. You get the fun of setting it up and tinkering with it to get the best KH/Watt plus if it all goes pear shaped you’ve got the hardware to sell on to recoup some of the start up cost.
Anyway, who doesn’t like building PC stuff?! Plus you earn coins. It’s a win win!
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[quote name=“finalbillybong” post=“51052” timestamp=“1389305835”]
I went the mining route. You get the fun of setting it up and tinkering with it to get the best KH/Watt plus if it all goes pear shaped you’ve got the hardware to sell on to recoup some of the start up cost.Anyway, who doesn’t like building PC stuff! Plus you earn coins. It’s a win win!
[/quote] I agree with you, good choice. -
Ok… so far everyone is supporting the GPU mining option… does AMD have any trick up their sleeve in the upcoming months? Or should i just go with the 290x?
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I would go the GPU mining route, and get in now, for what you plan to do in the next ~6 months. Someone will come out with ASIC, and you want to maximize using the GPU while the payoff time is still reasonable.
I’m preordered on AlphaT so i don’t share the negative opinion on them, but I do gladly admit its a huge risk, and potential tie up of some working capital.
I would suggest you look into lower cost, higher Hash/$ route. There are some cards out there with the right tuning that can give you $150 per GPU for 500khash.
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Interesting… I already have a spare 5850 GPU (which will hopefully mine around 300kh/s). What 150$-500kh/s GPU would be a nice pair to that 5850 then?
edit: My less than good feeling about AlphaT has to do with a couple of comments i’ve read… 30% deposit for an item which is in high demand. Not sure if that is common practice around ASIC’s though.
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I use 2 270x and get 480KH/s out of each of them. They’re not too expensive either! Maybe you could consider them?
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Ty MrFeathers for the insight on ASIC history… had no idea :) Looking back to paying 100% ahead for a technology still in development actualy sounds pretty insane doesn’t it?
Ty finalbillybong for your suggestion on the 270x. Are there any sites where I can list GPU’s by their hashrate/$?
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I don’t know of any hash/$ lists but this: https://litecoin.info/Mining_hardware_comparison will give you a rough idea of the hash rates of various cards. It’s not the be all and end all though, as I’ve said, I’m getting 480KH/s from my 270x’s.
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As you can’t foresee the future - maybe splitting the risk and chance is a good option.
Waiting some months for the ASICS or USB removes the chance of getting FTCs at the moment where CPU mining is still valuable. That’s why I would still build a mining rig … and considering the resell value of the GPUs and the current positive daily outcome of mining you can amortize your rig within some months.I would also preorder ASICs - as the current pre invest is still a fair risk/chance tradeoff. Fact is - if ASICs come and you get one, you can amortize the device fast (2-3 months). If ALPHA is a scam - this is speculation - no one knows really. At least based on their partner Dexcel, good communication and prototype - looks a bit more promising than Butterfly - but still a possible 0 value. But to win - you need to take risks. In the end it depends on your risk awareness.
For the USB devices - I would also order as soon as they are out.
From modern portfolio theory it makes sense to split across as many as possible opposite areas. There you have the fair chance with 3 different strategies (RIG, USB, ASIC). You’ll lose if BitCoin and Crypt-Coins crash completely … but that’s another picture (therefore you need to distribute to Gold, Silver, Shares,…). If one of the 2/3 options crash it’s still very likely that 1 outperforms the others by magnitudes and it amortizes your total investment (and at the end that’s what counts).
Currently setting to only one option is in my opinion gambling.
Just my thoughts ;-)
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I am gonna go with option 1. If those asics do hit market your coins will increase in value greatly. Now is the time to mine or buy coins. I have 5 MH between 8 r9 280x’s i have a 9th one im not using if you wanna buy it? ;D
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I agree with splitting the investment in more than one way, that way you minimize risk. +1 rep sradics for the insightful info :)
As for the choosing the GPU, that hardware comparison list is good but I have a slim notion of GPU prices… is there some other list where I can see the GPU list by price?
And as for that 280x, what’s the price and from which country are you sending it from (to account shipping)? :p
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[quote name=“Thytos” post=“51312” timestamp=“1389398665”]
I agree with splitting the investment in more than one way, that way you minimize risk. +1 rep sradics for the insightful info :)As for the choosing the GPU, that hardware comparison list is good but I have a slim notion of GPU prices… is there some other list where I can see the GPU list by price?
And as for that 280x, what’s the price and from which country are you sending it from (to account shipping)? :p
[/quote]I paid this [url=http://www.newegg.com/Product/Product.aspx?Item=N82E16814125490.]http://www.newegg.com/Product/Product.aspx?Item=N82E16814125490.[/url] shipped from USA!
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[b]ideas, for Future of Feathercoin mining[/b]
to develop a feathercoinminer for smartphone link to a dedicated smartphone feathercoinpool and to a smartphone feathercoinwallet…
even if the rate would be low your phone is basically on 24/24[b]could it be possible…technically[/b]
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[quote]I am gonna go with option 1. If those asics do hit market your coins will increase in value greatly. Now is the time to mine or buy coins. I have 5 MH between 8 r9 280x’s i have a 9th one im not using if you wanna buy it?[/quote]
Why would coin value go up with asic mining ?
The production would go up, the costs would be lower and that could lead to lower prices also as the profit margin changes.
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[quote name=“mmyhre” post=“51635” timestamp=“1389547441”]
[quote]I am gonna go with option 1. If those asics do hit market your coins will increase in value greatly. Now is the time to mine or buy coins. I have 5 MH between 8 r9 280x’s i have a 9th one im not using if you wanna buy it?[/quote]Why would coin value go up with asic mining ?
The production would go up, the costs would be lower and that could lead to lower prices also as the profit margin changes.
[/quote]Infrastructure. The more hashing power a particular coin has, the better it’s chances for wide adoption. It’s all about the transaction processing. The stronger the network, the more attractive the technology becomes.
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i say this is true
[quote name=“corather” post=“51702” timestamp=“1389592155”]
[quote author=mmyhre link=topic=6759.msg51635#msg51635 date=1389547441]
[quote]I am gonna go with option 1. If those asics do hit market your coins will increase in value greatly. Now is the time to mine or buy coins. I have 5 MH between 8 r9 280x’s i have a 9th one im not using if you wanna buy it?[/quote]Why would coin value go up with asic mining ?
The production would go up, the costs would be lower and that could lead to lower prices also as the profit margin changes.
[/quote]Infrastructure. The more hashing power a particular coin has, the better it’s chances for wide adoption. It’s all about the transaction processing. The stronger the network, the more attractive the technology becomes.
[/quote]
