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The issue right now with many economies is the job numbers. The numbers are way too high and unemployment is way too low. Sounds good but this is one of the reasons why inflation keeps growing.
People find higher paying jobs and those employers need to increase salary. When they do that they need to increase cost and it’s a never ending cycle.
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$30k is not a good area because it’s actually major resistance. It’s where the last support was, tested many times and broke. If it reaches that area most likely many will sell.
However what matters is what happens after. If it slices it like butter. Similar to the old $6K support in 2019, then it’s confirmation that we hit the low and will go up from here.
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I am too lazy to google the motherboard and look up the specs. But does it have an onboard video? Onboard video is when there is some basic GPU already built into the motherboard.
Most likely it’s trying to mine on that card which obviously doesn’t have enough memory. You should manually try and select a GPU, try GPU = 0. You can also try changing the platforms around and see if it works.
If it doesn’t then make sure your virtual memory is very large. Sometimes this can be an issue.
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There are pros and cons for both.
ASICs unless they are outdated or used are usually very expensive. So the entry price is much much higher. Another reason is that they are extremely loud. Basically as loud as a vacuum and you need a special area for them. You cannot sleep next to one. Another issue is that many of them require 240V which most don’t have set up.
GPUs are just easier, cheaper to get introduced into crypto. They however are more technically involved. ASICs are just plug and play pretty much. You don’t need to worry about it crashing as much.
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In my country it’s typically 40 hour work week. 9 to 5. Usually after 40 hours you get paid 1.5x because it’s overtime.
Depending on the job you have. If it’s white collar you don’t do 8 hours of work each day. Maybe 2. The rest is spent talking with workers, extended lunches and playing with your phone. Other jobs like blue collar are usually very long hours and no resting.
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I think all eyes will be on sept 13th which is significant because it’s when the ETH merge happens and when the CPI is released.
The CPI is important because if we get a low number then we will rally hard. If we get something high like 1% again then we will dump hard since it means more rate hikes.
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Yeah I had like half of mine have burnt capacitors. They were hard to find because they were under some cover. And the weird thing is the GPU worked like nothing happened.
Since it was under warranty I figured I might as well send it in. I was hoping they would send a new replacement. And guess what they did. They sent the same GPU back, all they did was remove the entire row of capacitors in that area where one of them burnt. It ran fine.
Wondering why put it there in the first place.
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Bitcoin has created a lot good wave to it's investors during bull market, bad wave during bear market. Bitcoin is a seasoned coin that undergoes halving every 4 years, yet many have not gotten use to bull and bear market of Bitcoin coin, some people only get happy during the bull market as a result they forget to prepare their mind for bear market too. 1 Bitcoin = $26 (2013) when only an average number of investors believed in it, Now that many investors are into Bitcoin investment, it cost thousands of $$ to afford 1 Bitcoin ( 1 Bitcoin not for everyone).
perhaps Now that the potential of Bitcoin have been globally let out and with regards to more innovation, the price will continue to go that many can not afford 1.
Holy crap, Detritus you are still around? This is obviously off topic but I remember you had a thread on how to build a cheap DIY wooden open air GPU rig. And I book marked bitcointalk with that thread. So whenever I wanted to go to Bitcointalk, I clicked your link. And I would see your nickname and avatar everytime. Seen it perhaps 2000 times. Then I see you made a topic, I had to blink my eyes to see if it was posted in 2022 and it was. Man I remember your posts from over 10 years ago. Wondering if its actually you and not a bought account. Great to see you are still around. |
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What is the difference between the difficulty bomb in the latest version and the version prior. The prior version also has a difficulty bomb so even if pools don't upgrade the network will come to a halt unless they upgrade their software.
I think that most pools will switch, its just too early at the moment. Will be interesting to see what the %'s will be next week however.
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It is built like a tank however. They will never die. Unlike the Vega or Fury GPUs from the day.
I've had like 5 die (280x and 290s), though I did mistreat them back in the day by having them run extremely hot and I also flashed 390 bios on the latter ones. That being said it's normal, no card lives forever. Fun story is, I took an old working one out of my warehouse to check it out for ETC mining, and after plugging it in there was like a small burst of fire inside it(lasted for less than a second), then the house started smelling like something was burnt. Once again, not the card's fault, I used to be pretty rough with it during ltc/zcash days What brand was it? Was it aftermarket AIB or the AMD reference models? Most of my R9 290 were reference models and I didn't have any issues. I think the only issue I had was that one of them had a bad fan after running for 5 years straight. However it was like $10 from eBay and was perfectly fine. I had some bad r9 280x but it was models like the Sapphire Dual-X 280X which many miners had isses with burnt MOSFETs. Then I had a bunch of Gigabyte 7950/7970 which all had fried capacitors but they still functioned. |
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Where have you been living for the past couple of years? We had Covid19 in early 2020 and due to that it distrupted alot of supply chains and increased money supply. Pretty much everything is much more expensive now.
Houses, rent, cars, computer equipment like GPUs.
Another reason why GPUs went up since 2019 is because mining was very profitable in 2020-2021 so all the miners bought them up. Hence why the pricing doesn't make sense. Whats worse is people paying $200 for an RX 470 which had an MSRP of $200 about 6 years ago.
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You need to understand that price can trade sideways for the next few months and the dots will turn yellow and the bottom can still be in. It doesn't mean the last cycles low will play out.
There are too many people out there thinking we will hit a new low, or go to $10K or lower. And this is why I am long term bullish. Many already sold. I don't think there are many sellers out there. The only sellers that will be in the market will be the MtGox coins but who knows when they will be released.
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Alot of people assumed that since Bitcoin was created during the 2008 market crash. That if there was another market crash it would do the opposite, since it would be a safe haven and supply being capped. However when the covid crash happened the opposite was true.
Now it has very close correlation with stocks, especially Nasdaq. Sometimes you can watch the nasdaq and if there is a quick move, you can copy the move and bitcoin will also move in a few seconds later. Its just the way it is. It trades as a risk on asset like a stock.
Who knows? Maybe one day there will be some form of decoupling.
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I had a few of the 390 and many of the r9 290. The only way how to make it efficient you need to undervolt it to the max, I forgot how low I set the voltage and you need to underclock it so low that it'll hash at like 20-22mh/s or something. By doing so it'll be efficient however VERY slow.
However the GPU will run cool and if you got the reference models you can use it in your room and it won't be loud as a vacuum. However keep in mind this is a GPU that came out in late 2013, so its almost a decade old. It will never be as efficient as some of the GPU cards of today.
It is built like a tank however. They will never die. Unlike the Vega or Fury GPUs from the day.
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While I truly support decentralized mining (best achieved with gpus) I am absolutely DISGUSTED by the ETHW or eg. DCRN project.
Etheremine announced today that their staking pool will be without US citizens. The new POS network will move away from US servers because the POS holders are financing the biggest money laundering network in the world and their funds can be confiscated. Ethereum 2.0 will become a Tornado POS network owned and run from Russia, Iran and North Korea. The law is simple. Stablecoins will have to leave the network because all of the validators are banned from the US. That's why we need ETHW and POW mining. A safe, legal and secure place for the stablecoins. https://beincrypto.com/eth-mining-pos-activities-prohibited-says-data-service-provider/So another platform that the US people can't use. Its funny. It one of the largest financial capital of the world. However if any small fish wants a piece of the pie they are forbidden. Just like with the pattern day trader rule. You need $25K to day trade. Saying its to prevent losses. And since most people don't have $25K saved up, they can't day trade. Same goes with the crypto futures and such. Its getting pretty ridiculous living in that country. And the excuse it always the same. "Its to protect the consumer". |
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Yes it varies per card. Some cards are worse memory and some GPUs have a worse ASIC quality % and they can't clock as high. You can try and force it to 31MH/s however you will run into hardware errors and it'll keep freezing on you. Eventually it'll freeze in the middle of the night and you will lose all profits on 8 GPUs just because you overclocked it too much.
Good quality looking rig, reminds me of my old RX 570 rigs. Those were the fun days.
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Honestly you are better off just selling your GPUs now. The merge is in like 2 weeks and mining profitability will be almost nothing. Every miner will give it a few weeks or so. Hoping that a coin like ETC goes up in value, however there is no gaurantee.
Just like a bitcoin halving event, your profits will be halved, nobody knows how much. However the profits are bad now, it'll be even worse. If the GPUs are worth a decent penny, just sell them to some gamer and buy coins like BTC and ETH and hodl.
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no smart contracts are running on ETC.
No Smart contracts are running on the Bitcoin chain either, but still 2-3 times more valuable than Ethereum. Based on the stake itself, eth devs always believed btc to be 33 times more valuable than eth, as per the stake the 32 eth was chosen based to be worth 1 btc. So in that sense as this is still pre bear market eth has to crash a lot more and that is what I believe, there is still too much hype on eth yet because of the eth 2.0 but as soon as that fades away then we will see the real price of eth, I would not be surprised if eth crashes below 0.03 btc and goes below 0.016 btc like we have seen on the 2018 crash. This eth move to pos could be the death of eth itself, never go full retard and invest all in it, need to apply caution here. Didn't realise that was the reason, was always curious why "32". Always assumed it had something to do with those games that the ETH devs were playing, since many of the ETH forks are named after some game levels. Either way, I remember back in 2015-2016 when ETH was not doing so well. Many of the ETH devs were selling their ETH and buying BTC and the foundation itself I think held a large portion of BTC. This is proof that, BTC is still king. |
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Gamestop went higher, I think $400 or $450 or something. I know because I bought some at $10 and sold most of it at $20, lol.
And its also not normal for a stock to double or triple in value so soon. For it to go quickly from $10 or $450 doesn't make any sense. Many markets don't make any sense.
EDIT: Didn't realise this but Gamestop had a stock split, so the high was $80 after the split, before it was $450 or so.
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I am not surprised. And honestly the inflation is around that rate everywhere pretty much. You look at your bills and inflation is definitely more than 8-9% as from what the fed is saying.
Right now there needs to be a massive job correction. Unemployment needs to rise so people buy sell stuff, everything becomes cheaper, and labor is no longer tight and services are going to be cheaper also. Until that happens inflation will be crazy high.
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