The Litepresence Report on Cryptocurrency

I started with just one, it cost about $800. From there I just kept buying parts, eventually the china bubble came and I rushed to get a third one up.


I am currently having a new house built and am having one one upstairs bedroom fitted for mining. I have a network infrastructure and four 20 AMP dedicated circuits.

In about one month I will tear these apart and ebay them, meanwhile I am in the process now of accumulating the parts necessary to build a 20,000 kh/s mining room with about 8 rigs in it.



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The biggest mistake I made was using computer cases. This time I am building my own open air test benches, I actually just took a break from building the first one to type this out.

In the set up above each box is putting out about 1250 kh/s at about 750w each.

1250 kh/s right now gets about .3 LTC per day worth about $6 per day.
750w x 24 hours = 18kw/s x $.047 per kw/h = $.84 per day.

So each box nets about $5.16 per day at current difficulty.


In the summer months (JUN-SEP) power costs go up to $.08 per kw/h, so that will shave a little off of my profit.




I did the math with LTC, but in reality I use automated switching pools to mine the current most profitable script coin. So i consistently make more than what is list above.


I exchange about 70% for BTC and 30% for LTC and thats all I hold.
 
I did the math with LTC, but in reality I use automated switching pools to mine the current most profitable script coin. So i consistently make more than what is list above.


Do you mind sharing which automated switching pool you use? I've been looking into that, but haven't had enough time to do any real research.
 
Multipool.com seems to the best, but wemineall.com will probably challenge them.



wemineltc.com right now is the most used ltc pool, it is well run and well vetted, the same guys are starting up wemineall.com and it should be top notch as well.
 
I wouldn't enter mining at this time.

Why? Summer is coming. I know a lot of people got into mining during the fall/winter. Summer is going to have a lot of frustrated miners abandoning the pursuit. If your rig is running 80 celcius now (I don't run that hot, but lots of people do, i target 70), you will enter full meltdown mode in may, or else you will have to run air conditioning, effectively wiping out a large percentage of profit. So, people will either be burning out cards, or having to clock them way down. Leading to less profits, leading to less enthusiasm to buy more cards.

So, AMD video card price crash will be totally in effect by may. I'm sure you'll be seeing whole rigs appearing on ebay far under MSRP. I doubt I'd buy them though, as most likely they'll be coming from the "run em hot, and hard" set ups.

Personally, I'm just buying 750ti cards now, I can get 300 kh/s per card and run far cooler. It takes 2 to almost equal a 7950. I wouldn't buy a 7950 for more than 250, with the heat issue, and increased power consumption it wouldn't be worth the trouble.

The 750ti's I can just run them, on risers with at most a box fan circulating room air, and they'll never over heat.

So, that's what I'm waiting for sub 250 7950's or 280x's, then might be worth the trouble. Really, I doubt I'd pay more than 225, then I'd probably by good amount and just deal with it.

Also, I'm crazy, so I'm disconnecting my central air vents to blow all air outside, as in I'm disconnecting my vents, and routing the air outside, in that way I can just run the fan, and it'll suck the house air to the outside. For personal cooling, I'm just using a window unit in one room with no mining rigs in it. That method, should create a constant flow of outside air being sucked into the house. So, hopefully that will help mitigate upper house temps. Plus box fans of course to circulate the local air by the miners. Even with that, it'll still probably consume an additional Kilowatt of energy per hour in the summer.

I won't run air conditioning to cool the cards, that is bonkers, I'll just underclock the amd's to maintain sub 80 at max. I would have never purchased them, if the 750ti's were available back then. Yes, you need more of them, but they aren't going to raise your house temp to a 150 degrees either.
 
Mining is becoming more and more difficult, the ROI is a short window and it's easy to bet on the wrong pony. I think it's a very risky proposition and I've been mining for years.

Bitcoin/SHA256 mining is entirely ASIC - specialized mining chips - and to get in the game you're talking a few thousand for the smallest cheapest rig. Litecoin/scrypt ASICs are out also, more powerful ones on their way. If you go the GPU route that is still viable for scrypt and a few others. However GPUs are also a shorter window on ROI and profits are dropping too.

To earn a full bitcoin a day, at current difficulty rates, you're looking at

about 8 THs for Bitcoin/SHA256 =~ about 30K USD worth of gear (if you can find someone who even has product for delivery, most are months to wait for a pre-order)
about 150 Mhash for Litecoin/scrypt =~ 60K for ASICs that aren't shipping yet, more for the smaller performing ASIC currently out. Or over 200 of the top graphic cards which would be about 120K - but the GPUs are hard to get your hands on. My last order took 2 months to completely fill.

The difficulty is growing by 50%+ each month, profits drop accordingly.

Buying coins directly may be the best way to go.

With all that said, based on your end goals and if you have a technical side then mining is doable. Just know it's an arms race that is getting harder and harder to keep up at all times.

I think Litepresence has the right idea on letting money earn more money.

hmmmmm, that sounds terrible. I thought all I needed was a special video card lol .. I'll leave mining to the big boys.
 
The thing about mining for me is it's fun, I got into it before it was really profitable because I thought it would be a fun hobby and my goal was to break even.

I still enjoy it, I like perusing forums for new ideas and implementing my own, and I am certainly more than breaking even, so I'm gonna turn it up a notch.

I do have the cheap electricity on my side.

Wish me luck I guess.
 
Anyone notice the difficulty going down this last week? My payouts made a modest bump which is a first. Seems like some people have shut down and the newer ASICs are behind on delivery status.
 
The biggest mistake I made was using computer cases.


More pics of your new open air setup!

Be sure to run 12g wire on your 20 AMP circuits and use "20 AMP spec" outlets. It wouldn't hurt you to get a cheap infrared themometer and keep track of your circuit breaker and wire temps. Put some strong consideration into fire protection and get yourself a good 10lb fire extinguisher.

https://bitcointalk.org/index.php?topic=517976.0

What are your thoughts on aquarium rigs submersed in mineral oil?

http://www.pugetsystems.com/submerged.php

Have you looked at all into grid tied solar to offset summer electric cost?


Please post specs of each rig. What GPUs, motherboards, ram, chips, OS... give us all the gritty detail :)

Also where are you getting the good deals on parts and what does each complete rig cost?

How much setup time do you have in a rig?


love it!
 
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Xtreat, awesome setup! While we're showing off our mining rigs, here's a story about my humble 3 Mhash rig. It's a multipurpose miner/gaming rig/media center/multi-monitor workstation. Best of all, it's quiet!

I've taken a sort of "hobbyist" approach, having started mining bitcoins with an old Radeon 4870 late 2012/early 2013. I then bought a bunch of coins last April and the rest is history. Actually, my last big purchase was from MtGox just days before DHL seized their Dwolla account. That was a close one.

I kept the 4870 running through the summer but during the asic difficulty jumps I turned it off. In November just before the altcoin craze I grabbed a 7990 but quickly realized that they run super hot and sound like a jet engine. My office is right next to the living room and my wife wasn't having it. I mined quite a lot of DOGE with that single setup, which proved to be profitable.

Enter an additional 7990, a couple of water blocks, and radiators. To save power I undervolted each core to where it was *barely* stable @ 1100/1500. Cards run in the low-mid 60s, but will probably be closer to 70 when summer hits. Over on the LTC forums I found a custom cgminer kernel that boosted my cards from 760 to 780Mh/s. Cool stuff. To play games I simply turn off 2 cores and push them back up to stock 1.2V. I use MSI Afterburner to switch between different profiles.

To get the four cores to run stable, I threw in an EVGA power boost. Nice little device, that. I also sold the PSU and replaced it with the much quieter (and more efficient) Corsair AX1200i. It is rock solid and the cards love the digital voltage regulation. The real-time power monitoring software is excellent and the fan barely spins (~1000rpm) at near full load. The peace of mind is worth it, knowing that I don't have anything that's overheating or being pushed to its thermal limits.

So you can see I'm not exactly in it for the money, although I pull in between .5 and .75 LTC per day which I use for fun money and trading. I don't mine any altcoin except DOGE; not really keen on downloading unknown wallet software. It's been a fun project to tackle (watercooling can be a bitch) and I'll probably keep it running until its no longer profitable or dumps too much heat during the summer.

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And the mandatory cgminer screenshot. Hardware errors? Yeah, that's due to the undervolt. I mentioned that they are just barely stable running between 1.11 and 1.16V @ 1100/1500, so I get a few per 24 hour period. My rejected shares have also gone down significantly since upgrading to the digital PSU.
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Thanks for reading and letting me share!
 
I am using all 6950 and 6970 cards, only MSI and Sapphire brands, they seem to work the best.

Its really a very typical setup,

ASROCK 970 Extreme4 MB
AMD Sempron 145 CPU
4GB cheapo DDR3 RAM
Rosewill modular (kinda) 750w PSU
Refurbished $20 WD 160GB disk drive
Windows 7 64 bit
3 x 6900 series GPU

Each box cost about $800.
Each box gets about 1250 kh/s





Okay so I just finished this, so its not very neat. It likely won't ever be because I am not planning on keeping these older legacy cards once I get going. When I get it all moved into the new house with new hardware I will take the time to route and zip tie all the cables properly.

But this is my first test bench, I am about to order parts to build seven more. They cost about $37 a piece if you do it yourself. On Ebay they go for $120-150 bones each.

I get my parts from here. http://www.estoconnectors.com/

I am gonna get them all built before I move so I can start installing right away.

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What are your thoughts on aquarium rigs submersed in mineral oil?

http://www.pugetsystems.com/submerged.php

What's the point of this project? Crazy overclocking?

Answer: This project is intended as a cool conversation piece, and a fun do-it-yourself project. While there are certainly some thermal advantages, submersion cooling is usually not the best solution for overclocking. Due to the risk of tank failure if the oil reaches temperatures above 50C, we do not recommend submerging overclocked or extremely hot hardware in this system.
 
https://cryptorush.in/index.php?p=buy-cryptorush-shares

[h=3]Information on Buying CryptoRushShares[/h]As of March 14th 2014 it's now possible to buy a new currency called CryptoRushShares (CRS), as stated in this Official Public Statement.
[h=4]How does it work?[/h]there will be a finite number of CRS, and the amount of % you hold is equal to the amount of % of the trade-fees across the exchange in return every week. You can also trade CryptoRushShares on the exchange. This means that shareholders of CRS will make profit on exchange-fees, withdraw-fees, and can buy and sell the shares on Crypto Rush the same way as coins and stocks.
[h=4]How can I buy shares?[/h]Shares can be bought using the market CryptoRushShares / Bitcoin (CRS / BTC), where you trade and place orders like any other coins.
[h=4]How many shares are there?[/h]The total amount of shares existing is 100,000,000 to signify 100%.
[h=4]How do I make profits?[/h]By holding CryptoRushShares (CRS) you will receive the % amount of shares that you hold paid directly to your account in BTC every week on Saturday between 6-8 PM EST. This calculation is done at the same time every week and is based on how many shares you hold at the given point of calculation.
In addition to this, CRS can be traded and profits can be built like any other coins being traded.
[h=4]How much will I get each week?[/h]The amount you get is based on the amount of trade volume we get on the exchange throughout the week. You can easily calculate the minimum you get with the % you own based on our trading fees. Make sure to keep track of the daily volume from the homepage.
 
http://arstechnica.com/business/201...in-exchange-startups-wall-street-has-arrived/

On Wednesday morning, Perseus Telecom and Atlas jointly launched their new high-speed trading platform for Bitcoin and likely other cryptocurrencies in the future. Perseus is a firm that specializes in high-speed financial data networks, while Atlas is a relative newcomer to the Wall Street scene since starting in 2013.

The platform's debut puts Bitcoin trading much closer to the modern world of automated and secure trading. Atlas deals will have a matching speed of 30 millionths of a second. Modern trading firms colocate their systems as physically close to the “matching engines” as possible as a way to gain a few milliseconds of edge over others.
 
Looking for "temporarily overbought" signs on the way up, but failing. :-D
Haven't lost any potential gains on it so far though.
 
Ha, everyones setups look so nice compared to mine, one of my miners with 3 7850's (3 x 400 kh/s), has the video cards suspended in the air with FISHING LINE. HEHE. You guys just aren't getting ghetto enough. I have the fishing line routed through the fan that rests on stacks of canned goods. So, the cards are like hanging from the fan itself.

Come on people, the fun is the insanity!!!
 
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Here we go!

(Some of the previous ltcbtc spikes had a traceback then another bigger spike, though... hm :-D )
 
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