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Since the difficulty bomb affects ALL miners pretty much equally, it's not going to have ANY noticeable effect on Ethereum profitability.
It's a really stupid concept and a total waste of time - whoever came up with the idea was NOT THINKING.
The Ethereum "reduce reward per block" is what's going to hammer profitability, though it seems to be designed to be a gradual thing.
ZCash IS as profitable as ETH - on SOME cards, particularly the higher-end Nvidia 1080 and 1080 ti where it is MORE profitable (it's been ballpark even with ETH on the 1070 most of the last couple months).
It's generally lower on most current AMD cards, but AMD is NOT ALL THAT MINERS USE this time around (unlike Litecoin/X11 craze days where AMD had a clear advantage at the time) and again it's been CLOSE.
Given how the ETH folks are implimenting things, I don't really see a "sudden" fallout for a while but I do see a gradual move as the profitability gradually drops for the next few months.
A big price move would negate that estimate however....
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Producing costs are actually lower. Wafer itself will cost more, but 16nm will have much more usable chips than 28nm waffer. Although developing costs for 16nm will also be higher. So might be 28nm.
Probably should just ask Bitmain about it, wonder if they will answer.
14/16nm process costs a LOT more, as the equipment is much lower throughput compared to 28nm and soaks quite a bit more power/labor costs. The equipment ITSELF is also A LOT more expen$ive, so it's going to take longer to amortize that cost. Wafer cost is a MINOR part of the actual cost of a chip - I doubt it's even 10% of the total overall cost. Also, current yield on 14/16nm is still a fair bit lower as a % of the chip than 28nm, though it's high enough you probably DO get more usable chips per wafer. |
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Hello, everyone,
how much do you normally pay for electricity per month? Just interested to know. Do u have any differences between cost of using electricity day/night in your counrty?
My last bill was about $500 My current location is totally flat rate, but we're on hydropower from a couple of big dams here and the rate per KWH is low. Last place I lived, we had a "Time of Day" rate option that did save me a bit of money, "high rate" Mon-Fri from around 7AM to around 9PM or something like that, low rate the rest of the time. The REAL killer there though was the 3 months of the summer that the "base rate" changed from a "tier" type rate to pretty much flat and ended up kicking my net rate up to almost double the other 9 months of the year. |
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Why would they limit sales, they make the same amount if they don't and they have less support hassle dealing with fewer folks.
Down side of the not-quite-a-monopoly Bitmain has had in the SHA256 mining space for the last couple years.
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Good question! Yes, certificate authorities will sign certificates which certify that a particular user (as identified by a Curecoin address) did a certain quantity of work. The certificate gives a range of nonces that that user is allowed to try mining with, and if they get a nonce in the provided range that, when combined with the previous block hash (as defined by the certificate), and their address (as defined by the certificate), they are allowed to make a block.
This sounds like you're now expecting Folders to mine as well to get our rewards? Or am I being confused? |
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...50 CURE works out to be what you would currently be awarded daily for the work of approximately 6 GTX 1080 Ti vidia cards...
Or what 1 1080 non-Ti earned a few months ago  More like a year ago. 8-P |
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When you are talking about "forming" a business, I am not sure you have the right idea about it. You can have a sole proprietorship, which does not actually require "forming" anything, but is basically stating you now have a sole proprietorship, and take depreciation on your equipment and deduct electricity costs. (That is at the federal level, state level may be different. In KS I do not need to file anything with the state, but your state may be different).
You still have to register as a sole proprietorship, usually with your state's Department of State, in every state I've operated a business in, before you can claim to be a business for tax purposes. That might vary with the state though, I've only run businesses in 4 states at this point (CA, IN, IA, WA). Many municipalities require you to be licensed as a business as well, but that varies a LOT. I've also seen a couple of counties that required it, but that was only in "unincorporated" parts of the county and didn't apply if you were in a municipality. Feds require you to "operate as a business" in my experience, they generally accept that if you keep seperate accounting of the mining operation income and expenses AND are licensed per your state/local legal requirements that you are a business for that purpose - though they sometimes STILL apply the "you need to demonstrate you will be making a profit at it somewhere in a 5 year period" test anyway. |
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Nicehash is a market - it would appear that some of the "willing to pay crazy high rates" folks buying hashrate have dropped their "what I'm willing to pay" quite a bit, down closer to what the actual Scrypt coins are at on profitability.
So yes, profitability HAS dropped some the last few days on Nicehash for Scrypt.
What was strange but nice was the ballpark 2 weeks that Nicehash was paying out 20-50% over ANY actual Scrypt coin mining payout - now it's down to more like 5-10% more.
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Please add more gpu support such as 390 cards and also new amd 570s and 580s.
Also on subject are you guys intrested in a link back to exchange websites if i link you on mine will you link me on yours ?
570 and 580 stats are pretty much identical to the 470 and 480 - and depend a LOT on your optimisations and if they are BIOS modded for mining. I don't see the point of listing older-gen cards, even though I HAVE quite a few AMD R9 2xx series cards. I still want to see the Skein coins added to the main page, since that algo is more profitable than some of the algos that ARE on the main page. Is the announced ASIC device for SIA being sold yet? That might be a good option to drop in place of Skein.... |
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I run XUbuntu on all of my mining rigs, but I don't do riser rigs.
I'm not sure what the card limit on nvOS is - it's a Ubuntu-based mining-specific distribution and I think it specifically supports that 13-slot board so it MIGHT work "out of the box" for you.
I tried PiMP once - was very underwhelmed by the interface - but a lot of folks like it.
I don't like the "charge for it" aspect of ethOS, it doesn't seem to offer anything you can't find elsewhere in exchange for the cost.
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I'm mainly concerned this is going to be another huge bust for AMD and we're going to have another 200 series epidemic where there was a huge surplus of Hawaii chips after Litecoin and Scrypt mining died off; it forced AMD to make a 300 series where not much changed but a few minor tweaks to the Hawaii core. It could also be a reason why AMD didn't go full gear in production for Polaris.
Keep in mind that almost the entire R9 2xx series was a HD 78xx/79xx refresh with BIOS updates and slightly faster memory. As I recall the only NEW gpu in the R9 2xx series was the Hawaii chip used in the R9 290, R9 290x, and the R9 295x "dual" cards, and at the end of the line the GPU used in the R9 285. R9 3xx completely killed Tahiti with it's very good FP64 performance as the R9 285 GPU became the R9 380/380x GPU instead, and that was the only major change between the R9 2xx and 3xx series. |
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1) I *DO* need to form a business, because if I don't then all of this is treated as a personal expensive and thus, not deductible. and you still gotta pay taxes on mining rewards even if you don't form any legal entity.
2) costs incurred prior to the actual formation are seen as startup costs and allowed for deductions.
3) On date of receipt of these mining rewards in cryptocurrency (I guess this is when I transfer it from the pool to my wallet, because I don't know how the hell you'd do this for the fractions of shares in pplns pools), this is taxable as gross-income. not sure if you use the highest value for that day, lowest value for that day, or probably more accurately the last trade at that exact timestamp which I guess is going to vary depending on which exchange you look at...
4) you can apply deductions to this income. aka expenses related to a home office (% of rent, utilities, repairs, insurance, mortgage interest), depreciation expense on assets (e.g. computers, office equipment, tools, furniture). also deductable is % of credit card interest, if you used it to buy your equipment. basically any cost you incur in order for this to work is an operational expense. or more formally stuff like this:
"To be deductible, a business expense must be both ordinary and necessary. An ordinary expense is one that is common and accepted in your trade or business. A necessary expense is one that is helpful and appropriate for your trade or business. An expense does not have to be indispensable to be considered necessary."
5) I still dont know how to deduct the purchase cost of the equipment itself, whether the full purchase price is deductible, and whether or not the hardware is now an asset that is depreciated every year for 5 or 15 years or whatever those rules are. in other words i think its an amortizable deduction. like i dont think you can claim a huge $20k deduction up front, but rather its split up over some amount of years. I do not understand this part very well and how it affects depreciation value and if you can only claim one or the other or both.
there some difference here that i dont fully understand yet. "capital expenses" is a bit different than deductions somehow. I think startup costs and assets are capital expenses vs the operational costs like electricity. and these are amortized over years instead of all up front. in any case all of this is deductible in some form.
6) when I "sell" the cryptocurrency to exchange it into USD, this is treated like stocks, and if it gained from the VALUE it was when you received it (see #3 above), that difference is taxable as capital gains, and if it went down from that value then its a capital loss. also here if I recall right, if you sell it less than a year of having it, its taxed higher.
7) VERY IMPORTANT. regarding #6 above, if you sell the cryptocurrency less than 1 year after acquiring it, you're taxed under short-term capital gains which is HIGHER, and the % matches whatever your bracket is you fall under. lets say your married filing joint and make $200k, then short term capital gains tax is 25% of your profit. if you HODL and sold > 1 year, this drops to 15%.
8 ) like-kind exchanges don't apply to cryptocurrencies. so if I exchange ETH into BTC, this is also subject to capital gains/loss. so if i made money on ETH, gotta report it as a gain, and if I lost some then its a loss. Now when I exchange it back into ETH, once again if BTC went up its a capital gain, and if BTC went down its a capital loss. and again like #7 if i'm just flipping this back and forth every other day or week or month even, its all short-term capital gains...
9) with a business you're supposed to pay taxes quarterly, not yearly, but for startups the quarterly filing is waived for the first year. so after a year, i file everything up til then, and after that then i have to pay quarterly. also something about half of self-employment tax you pay is also a deduction, so dont forget that.
10) keep detailed records of EVERYTHING. because the IRS is probably going to scrutinize you when you deduct all this stuff computers and electricity etc, especially since its dealing with cryptocurrencies... excel is your friend. I use google sheets lol.
1) safer, but not an absolute requirement. There's a supplimental form you can file for "income and loss from a private business" or some such, but the IRS tends to get picky about "auditing" folks that go that route and often disallows deductions if they decide you're a "hobby" not a "business". It's MUCH easier to justify "business" expenses when you have a formally set up business, and the IRS is a lot less likely to try to disallow business expenses in that case. 2) Iffy, I'd DEFINITELY consult a tax professional about that sort of thing. 3) grey area there, the "count it once it's in your wallet or in your exchange wallet" is probably the safest option, but in theory you COULD try to claim it as an investment then only count it as income once you convert it to cash (or spend it on something) like on a stock. 4) if you SELL your miners, you can count them as INVENTORY - which gives you much better options to deal with their value dropping over time vs the crazy-long "depreciation" schedual the IRS allows for computer equipment. 5) purchase cost - if you count them as equipment, you treat it like any other equipment used in the business. If you treat them as inventory, it's treated as inventory of product for sale. 6) + 7) seems basically correct. Less than a year it's taxed as a "short term gain" at the higher rate for those gains, more than a year it's a "long term gain" at the lower rate for those. 9) depends on the size of the business, and what kind of profits you're getting taxed on. 10) ABSOLUTELY. And optimally keep PAPER BACKUPS as well, some IRS agents hate having to deal with anything else and I've encountered at least one that didn't believe ANYTHING that wasn't "on paper". |
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Seasonic SS-860 (platinum) or X-850 (gold) have 6 x 6+2 connectors stock - out of production but the SS-860 was still in stock at Newegg as of a couple weeks ago.
The EVGA G2/P2 850s are also good supplies, I wouldn't hesitate to use them if you prefer them, though they've also been out of production for a bit.
Your risers appear to come with adapters to run them from a SATA power connection, so you should be OK there - all of those PS have plenty of SATA power cabling no need to "split anything out" to run them.
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There is a limit to how many GPU chips can be pumped out by AMD and Nvidia due to LIMITED FOUNDRY CAPACITY on the production nodes those chips are made at.
They are also competing for that capacity with OTHER THINGS, like AMD CPUs and Samsung smartphones and Apple smartphones among MANY OTHER high-quantity selling items.
Keep in mind that ONLY AMD makes the GPU chips for AMD brand cards, and ONLY NVIDIA makes the GPU chips for Nvidia brand cards.
It's NOT up to the likes of EVGA, Gigabyte, Sapphire, ASUS, MSI, et cetera, as to how many cards they CAN make - if they don't have the GPU chips, they can't make the cards.
Gamers have been able to buy cards - they just didn't always have the option to buy low-cost midrange cards for cheap the last few months. I suspect that gamers "moving up from the 1070 to the 1080" due to shortages of 1070 cards and gouge pricing had a lot more to do with the MINOR availability and pricing issues of the GTX 1080 than miners have had, and it's noteable that the pricing of the GTX 1080 ti never moved noticeably even though availability got a LITTLE spotty on occasion.
BTW - this is also why Bitmain (and others to a lesser degree) have been often OUT OF STOCK on miners - they are SMALL FRY compared to the big boys, and have a much harder time getting ANY access to foundry capacity at all on the current "state of the art" nodes they're mostly using for the current miner generation.
Contrary to your assumption, they CAN'T just "max out their production" because the chip makers are ALREADY running flat-out and have been since the 14/16nm nodes first hit production status (less a short interruption of TSMC when their current-node factory got hit by an earthquake and lost ALL production for a couple months or so).
One additional factor for AMD - they got HAMMERED a few years back when the Litecoin/X11 GPU mining craze died, because they sold too many cards into the craze only to have the market dry up BIGTIME for a good year after that collapse, due to oversupply of cards on the used market. They seem to be trying to avoid that to SOME degree this time around by (1) encouraging their AIO partners to come up with "mining specific" cards that won't drag the market down for "real" cards much if at all, and (2) NOT ramping up production to crazy levels (even if they COULD) to try to keep up with the short-lived demand at the cost of the long term ability to KEEP SELLING CARDS once the current demand dies back down again.
One more point to keep in mind - demand seems to have ALREADY leveled off or dropped some due to ETH (and ZEC and some degree the other GPU mineable altcoins) having major profitability drops over the last couple months, pricing has already dropped a LOT vs the peak and availability is starting to recover quite a bit as well. NVidia is still seeing some elevation on 1070 pricing (and probably on 1060 pricing as well) but it's not CRAZY high any more, 1080 pricing is pretty much back to where it was in Febuary before the craze hit, and RX 570/580 card pricing has dropped a LOT over the last month though it's still elevated, while availability has improved a TON vs a month ago.
The craze isn't over yet, but folks are obviously starting to have second thoughs now that the potential for "2-3 month ROI" is dead and there appears to be some potential for "never achieve ROI" on the horizon with the ETH plans to move to POS actually ROLLING this time around.
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why are they not using the MB onboard graphics instead of wasting one of their badass GPUs on a display?
Under LINUX, that would be because trying to get an iGPU working with AMD or NVidea discrete GPUs is a nightmare in recent times (less so if you have an AMD A-series and AMD discrete cards, but you still have to do unnatural things with xorg.conf if you want fan control or clock setting ability on the discrete cards). Under Windows, NOT doing so is dumb and I don't understand it either, since Windows makes it so easy to get dissimilar GPUs to all work at the same time. |
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I like the idea of a computer sitting in my bsement makeing me money. So a few questions to get out of the way:
I thought bit coins handed out the reward to the person who completed the lock fastest? Like the only people who make coins are the one with th fastest computers who race to finish the next block? If thats not true can you just do hashes and get some money like 10-50$ (What ever that is in BTC @ 4200.00$ USD.
Also whats the start up cost? Im pretty good at electronics and building computer even thought I have never built one for this purpose. I hear the graphics card are being sold out quickly. Is there an advantage to running older ones?
As computers get faster do you need to compete with the others out there to earn the coins? Kind of like my first example but instead be willing to mine small amounts?
Or could have your lap top plugged in doing it and just expect less coins but aside from the electricity your machine is making you some sorts of money?
My bitcoin strategy is as follows $2000USD start up plus $500 a month goes into an exchange. Half those coins will be day traded and the other half with be used for my prediction (long) that its going to go up in the next year and it has to ride out the bump, because no mater what its staying in the market. The other half is deemed acceptable loss if everything goes wrog because I suck at trading but so far I'm winning on paper.
But mining now presents a third option: even if the gains are not much I'm thinking i leave this machine on for 3 years and half the value comes from the GPU making coins and the other half of the value come from appreciation.
So Price? Time? and would a minier take away from my other two investment ideas.
I say bit coins ut some of the day trade money will go into a bunch of different coins and the miner may be used for different coins as well if BTC is too hard for an aveage person to keep up with the other miners.
Most Bitcoin are mined by "mining pools", which split the load among those that participate in the pool and split the resulting profit when the pool finds a block. You CAN'T mine Bitcoin on anything except dedicated ASIC machines and expect to earn a noticeable amount - ASIC took over several years ago and are literally THOUSANDS of times more efficient on Bitcoin than GPUs are. You're looking at a startup investmend in the $1000 range if you opt for a CURRENT, profitable ASIC miner - the Avalon 741 can be had for around $800ish and then add a good power supply. I'd recommend reading up more before you ask any more questions - this is all COVERED in various threads here. |
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Hi, my PSU broke for my Lketc Mintforger Dragon 1 Th/s (1000 Gh/s) Sha-256 Asic 28nm Bitcoin Miner. I have trouble finding the correct specs for a replacement PSU. Can anyone help me with this?
Based on the pictures I've seen, it looks like a Seasonic X-1250 Gold would fit (I did 2 PS replacements on Innosilicon A2 units with these PS last year). However, unless you have FREE electric you are losing money running that ancient inefficient miner. |
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Unless you have FREE electric, you are LOSING money to run that miner.
IMO don't waste money replacing the power supply, retire it and get something newer.
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Probably would work well, but dang that thing is EXPEN$IVE for a mining-rig motherboard. I'm generally paying ballpark $200 for motherboard AND CPU (bit under if I settle for a 4-core or 6-core, which would be more than enough for a pure mining rig - sadly the low-end AM3+ CPU supply seems to be drying up, as AMD ramps up more Ryzen in lower performance spots and probably has stopped making most of the FX line and lower-end parts). I really wish someone would build a Ryzen motherboard with an 8x/8x/4x split instead of those 16x/4x splits (and if you're lucky a single PCI-E 2.0 4x 3'd slot) that didn't cost an arm and a leg. |
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Constantly, no - but I did get ONE such email a little while back.
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