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Bitcoin Mining Tests On 16 NVIDIA and AMD GPUs
Vigile writes "For users that have known about the process of bitcoin mining the obvious tool for the job has been the GPU. Miners have been buying up graphics cards during sales across the web but which GPUs offer the most dollar efficient, power efficient and quickest payoff for the bitcoin currency? A series of tests over at PC Perspective goes through 16 different GPU configurations including older high-end cards through modern low-cost options and even a $1700+ collection with multiple dual-GPU cards installed. The article gives details on how the mining programs work, why GPUs are faster than CPUs inherently and why AMD seems to be so much faster than NVIDIA."
Given that the difficulty increases exponentially you're not going to be making their calculated B$/day for the whole year, so while the quickest to pay of is 70 days if the difficulty increases at the usual rate, you'd probably want to add on another month or two.
For the ones taking nearly half a year to pay off at the current rate, you'll probably spend closer to a year before you'll even break even.
Your hair look like poop, Bob! - Wanker.
So now it induces nerds to stock op on GPU hardware? I get it! BitCoin is not currency at all, is just a new game genre: MMOM (pronounced like "mom"), Massively Multiplayer Online Money. The hottest MMOM in town. Spread the word.
Interestingly bitcoin is working despite all the arguments for or against it. The only valid question with regard to the viability of bitcoin as a currency today, is "Is it a currency today?" and the answer is without question YES.
Aside from the uses, for which there are now many (I have personally paid for survives, from freelancers around the world with bitcoin), approximately 7200 new bitcoins are introduced into the supply every day, and yet the value of the bitcoins has be rising over the past months. Even lately with the price off it's highs the constant influx of new bitcoins is not causing the bitcoin to lose significant value.
Fairness of early adopters doesn't enter into it. Early adopters helped to lay the foundation of the security which backs bitcoins, and were compensated for that service. You can participate and be compensated for that service too.
I would love to have been an Apple stock, gold or even U.S. dollar early adopter. But just because I wasn't doesn't me I should adopt now.
If you don't like the idea of it as a currency, or a commodity, then just think of it as a software tool that allows you to move money electronically without friction (unlike any other monetary device in the world), and therein you will find it's value.
Yes, the stock market, or rather capitalism is pyramid based gambling too. It's just less so than Bitcon, due to multiple reasons:
The majority of companies having actual assets.
The majority of companies paying out dividends.
Companies you invest in differ - some are unique.
Bitcoin is like a stock market with a single stock, for a company with no assets, and paying no dividends. Would you rush to pour your money into that?