Re: DO NOT BUY GPUs to mine! You will not get your money back!
Arguing that GPU mining is dead is also arguing that scrypt mining is dead since GPUs are the best available option for mining scrypt coins, and I happen to disagree with that sentiment. LTC happens to be doing very well at the moment and is valued at over $3 per coin, so we'll see who's right if and when LTC hits Mt Gox...
Various folks have been making similar statements about GPU mining going all the way back to 2011, and while they may eventually be correct if you wait long enough, timing is everything and everyone up until this point has had the timing wrong. I believe the first few months of 2013 were some of the most profitable ever for GPU miners, and my electricity costs are pretty low (~$0.065/KWh).
ATI will also release their 8000 series of video cards later this year which should be more powerful and use less power, which will change the GPU mining equation yet again.
ASIC supply is currently very limited, and they are going for exorbitant prices (~5BTC per GHs). I refuse to pay that price and will happily stick to GPU mining until the price of ASICs comes down to a reasonable level.
If the price of LTC and/or BTC goes up, I may even purchase more GPUs if the ROI looks reasonable at that time. Right now, the ROI for GPUs honestly isn't that much worse than the estimated ROI of an ASIC device selling that ~5BTC per GHs if one has low electricity costs! I can build a 2.5 GHs GPU mining rig for ~$1600, and if BTC or LTC is worth zero tomorrow because of a cryptocoin hack, I can always sell the GPUs on Ebay.
I believe some miners purposely give out bad advice on forums like this one to discourage new folks from mining because it will chip away at their own personal profits. How many GPUs do you own, FloridaBear?
Various folks have been making similar statements about GPU mining going all the way back to 2011, and while they may eventually be correct if you wait long enough, timing is everything and everyone up until this point has had the timing wrong. I believe the first few months of 2013 were some of the most profitable ever for GPU miners, and my electricity costs are pretty low (~$0.065/KWh).
ATI will also release their 8000 series of video cards later this year which should be more powerful and use less power, which will change the GPU mining equation yet again.
ASIC supply is currently very limited, and they are going for exorbitant prices (~5BTC per GHs). I refuse to pay that price and will happily stick to GPU mining until the price of ASICs comes down to a reasonable level.
If the price of LTC and/or BTC goes up, I may even purchase more GPUs if the ROI looks reasonable at that time. Right now, the ROI for GPUs honestly isn't that much worse than the estimated ROI of an ASIC device selling that ~5BTC per GHs if one has low electricity costs! I can build a 2.5 GHs GPU mining rig for ~$1600, and if BTC or LTC is worth zero tomorrow because of a cryptocoin hack, I can always sell the GPUs on Ebay.
I believe some miners purposely give out bad advice on forums like this one to discourage new folks from mining because it will chip away at their own personal profits. How many GPUs do you own, FloridaBear?