the amount of people deciding to throw their government cheque into buying bitcoin can affect the price. but these things just cause small temporary hype spike/dip drama in the price.
last summers stimulus only created a 10/20% speculation price effect.. where as elon musks 50k coin purchase caused a 300% spike
true technical analysis in shifting mining costs vs price
(choosing to buy rather then mine in low price/high cost period.. 'mine to sell' in high price/low cost periods) has more than a 40% effect
'trending' patterns
general citizen investing $1XX-$1XXXX each onmasse -15% effect
mining pools change of strategy - 50% effect
huge investor investing $XXXXXXXXXX - 300% effect
but hey if you wanna scream to the world to hype up a 15% natural effect to try getting speculation above 20%. you can. but dont expect the 20%+ to hold. so get in-out quick
hype is never sustainable
When we learnt that Elon Musk bought BTC it was trading at mid $30's maybe $35K or so. The low prior to that was $28-29K. So its nowhere near 300%. Not even 100% yet. His purchase did manage to keep price from breaking $28K at least. However look how much sell pressure there must of been for him to actually be able to buy over billions of dollars worth. The news started a huge rally because it was the richest man buying BTC and people are assuming now that more and more public companies will put BTC on their balance sheet, hence why it broke the last ATH of $42K. Stimulus cheques will play a big role in the stock market which is correlated with BTC so if stocks go up so will bitcoin. |
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I have AMD Firepro cards on Linux using bfgminer. I can see video, Linux sees the cards, but bfgminer does not. Any ideas?
BFGMiner? Why would you want to use that with a GPU? BFGMiner is now only used for BTC ASICs many years ago, about a decade ago it was used for CPU and GPU mining BTC. Right now you can't mine Bitcoin with a GPU, you are just going to waste electricity. I am not sure what you can even mine with an AMD Firepro GPU. If you want to mine with GPUs maybe pick up some RX 470 8GB and mine ethereum with it. I am assuming it doesn't detect your GPU because the fork you downloaded was aimed for FGPA and ASICs and not CPU/GPUs. |
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You can't mine any SHA256 with the X3, the X3 is only for Cryptonight type of coins. This ASIC was profitable back in the day when you could mine XMR with it. However after they forked you can only mine low cap coins. See this link, https://www.asicminervalue.com/miners/bitmain/antminer-x3-220khSo according to the graph unless you got free power its not worth mining at all. You make a little over 2 quarters a day mining some low cap coin which value can fall further any day now. |
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POW doesn't end in July, only the miner rewards will be less. Nobody knows how the profitability will be back then. Even right now an entire week can make all the difference. A week ago we were at $1300 and now we are at $1800 again. Price is very volatile and the difficulty keeps climbing.
In my opinion I wouldn't buy 3500 Euro because its like $4200 USD for a rig which has GPUs which are 5 years old. At $4200 that's about $700 for a GPU. The motherboard, PSU, cpu, ram don't really account for much. So lets say $600 a GPU. That is crazy expensive since this GPU when new was $250.
So when the mining fad is over and you want to liquidate your GPUs, you won't get much in the second hand market. I think they were going on Craiglist for $120 before Covid and before Ethereum starting to pump. I wouldn't buy that rig.
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Yes the actual power wattage should be sufficient however will he have enough cables? What I found with most PSUs under 700Watts is that even though it can easily support 2 or 3 GPUs in power wattage there usually isn't enough PCIe cables to connect all the GPUs.
I am guessing this PSU only has 2 PCIe connectors. How many go into each GPU? Is it only 1 each? Then it should be enough however if it requires 2 PCIe for each GPU then obviously it won't work. I don't know why many manufacturers do this. They should include up to 4 PCIe connections.
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Most coins which are stolen from a large hack are rarely sold for fiat, reason being that its just way too easy to trace and you can easily get caught that way. Remember when ETH got hacked and ETC was created. A little while later that hacker sent the funds to Shapeshift and managed to sell a little but eventually they blocked his addresses.
Same with the other hacks. Remember Bitfinex hack? They move very little coins here and there but eventually most of the stolen coins are just sitting somewhere doing nothing. They are waiting for some type of upgrade that would bring privacy to bitcoin transaction and maybe then they will move the coins.
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Well you can just make a current probe and measure the current on one of your wires from the wall and just multiple by voltage and you will get the correct wattage reading and just throw away the meter which is giving you the incorrect reading. Most likely the issue is the meter isn't accurate at wattages that high, if you pull less power, say 700 Watts and measure with both, then I think they would get the identical reading. However if its too high of a load, it might get incorrect reading. Same reason how the KillAWatt can't measure the wattage properly of a microwave. Just shows crazy values. |
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240V obviously is better for mining. Many reasons for this. Efficiency is the most common. No idea why there are places that use 120V.
Either way if you got a rig pulling 1000 Watts thats about 8.3 Amps on 120V, while its half of that on 240V. So with a 240V connection you got less of a chance of melting cables and don't need to use such a large guage of wire.
This is why there are many PSUs like the Bitmain ones which are only 240V because its what professionals use pretty much. Your home most likely has 240V you just gotta disconnect your stove or dryer. However for most people you can't live without a stove or dryer.
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They aren't going to reduce the DAG to benefit miners. They only did it on the ETC network because they lacked hashpower and kept getting 51% attacked.
If they cared about miners they wouldn't of have reduced the miner reward from 5 ETH a few years back and they wouldn't implement EIP 1559. Plus not only will they make ETH holders upset but they will make anyone upset who overpaid for that expensive ETH ASICs that is capable of mining 8GB DAG when the old Antminer E3 would of been just as sufficent.
So you can forget about them reducing the DAG file.
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So why doesn't Ethereum just reduce the DAG file size? Just clip off the first 2GB of the file and go from there? 3GB and 4GB cards instantly become usable again, nice and simple.
The ETH devs goal is not to benefit miners, they actually don't like miners with all the miner fee rewards reductions they implemented in the past. Their main goal is to get out POS as soon as possible. Why did ETC do a DAG reduction? They basically had no choice because their chain was being 51% attacked like half a dozen times. So they reduced the DAG so old GPUs like the 3GB and 4GB could mine again for a little profit and the increase hashrate would prevent any 51% attacks. The ETH blockchain is very secure with all that hashrate, doesn't make sense to reduce the DAG. |
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I think the reason why the hashrate is so high up is not the amount of GPUs or ASICs being produced being added to the network but its the old GPUs which were never mining start to mine for the first time.
People either are seeing crazy profits and decide to mine themselves with Nicehash or they see the crazy amounts of money people are selling their GPUs for on Craigslist and eBay so they decide to sell their GPU at a great price and either wait a few months to buy some newer and better GPU or just stop gaming all together. Or game with some old GPU they had laying around. Then that GPU which was never mined before, finally starts mining and adds to the hashrate.
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Did you try doing the oven trick on your dead GPUs. In my experience it brought about half of them back to life... for many another 3-9 months or so.
All you need to do is disassemble the GPUs from the heatsink, cover any components with aluminum foil, leave the GPU chip exposed, put it in at some desired temp and you are all set. There are videos on Youtube on how to do this. Best to use some toaster oven that you don't use.
Wait until it cools and put it back in. You will be surprised that most of the time it works. To make it last as long as possible try and don't do too many heat cycles because that kills it again. So leave you rig mining and don't shut it off too often. The more you shut it off and let it cool and then heat up again, the less hours you will get out of it.
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Since you are selling a mining rig with GPUs at a time like this you should just sell the GPUs seperately on Craigslist. I am assuming you got some RX 470/570 GPUs since you mentioned its 2 years old.
They are getting great prices right now because there are no good priced mid-tier GPUs available for gamers. So post it on Craiglist/ Facebook market place at a fair price and depending on your area, you can sell all 5 of those GPUs within 1 week.
You can also sell them as a pair of 2 because some gamers might want to crossfire them, this way you save yourself the hassle and don't need to meet too many different people.
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It's not stressful to pull a gpu apart, all you will be removing is the heat sink, how is that stressful? I've repaired two GPUs before with a pressing iron and it worked, the gpus still working due to high temp and I use the iron to sit the chip back in place, there are some videos on youtube about it
Taking a GPU apart is not difficult but it’s a bad design where you need to separate the heat sink from PCB just to change out a fan. Fans commonly go bad and on some GPUs only way to replace the fan is you need to pull the heat sink assembly off. Pulling heatsink assembly can cause issues. One of them is that the thermal pads usually rip. They commonly cover the memory chips and maybe some MOSFETs. So if they rip what do you do? You need to find a replacement somewhere and they are hard to locate. I had to over from like 3 different sellers until I got the correct thermal pad that would fit. Second is that if the GPU is really old then it’s hard to separate from heatsink. So you pull and pull to get it off and usually break some solder balls in the process. Then when cold your GPU won’t work. |
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I remember back in the day I wanted to make my Antminer quieter. And instead of buying the mufflers I just took a large cooler, cut holes in the front and back and put it inside. My biggest worry was that the PSU would overheat because of bad air flow so I just kept the PSU outside of the cooler.
Was it silent ? No but it was much much quieter. So you could do it with an Antminer or 2 but if you got a dozen of those it just wasn’t possible.
Never had to do it for GPUs because they were always quiet.
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Alot of people think $80K will be the top because if you look at those stock to flow, MRVR Z Score, 200WMA dot color, etc they all seem to peak at the same level as the previous 3 tops in bitcoin in 2011,2013,2017.
If you take the Canadian dollar or the Aussie dollar then $80K is about $100,000 in those currencies. And I think most people will start to take profit then, if not sell everything at least people will dollar cost sell. So I don't think $100K USD will happen and even if it does, I don't think it will be sustainable. Not unless we get a deeper pullback, similar to what happened in April 2013.
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I think the 2 common reasons why GPUs die is either some component like a MOSFET or Capacitor blowing up, usually you can replace that broken component and it should work again.
Another reason is either the card was dropped or you changed the thermal paste and pulled too hard to seperate the heatsink from the GPU chip and ended up damaging the solder joints. This is why sometimes the oven trick works in getting GPUs working again. Only proper way to fix this is you need to reball the GPU chip. Which is a pain and lots of work and experience. Only worth it maybe on high end GPUs >$500.
But I had that experience also when I opened up the GPU and I ripped the memory thermal pads and had them in pieces and couldn't find a proper replacement.
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Right now whether it breaks the ATH or not will depend on what is going on with the global markets. Especially the oil markets and yields. If you plot a correlation with SPX you will see that lately they are closely related to one another.
This is similar to what happened exactly 1 year ago with the coronavirus crash. The stock market started to crash and bitcoin started to follow. And right now its no different. The stimulus news is bullish however lately there is way too much bad news going around. Its also very strange why GBTC has such a big discount. Never seen it this low for such a long time.
I guess the Coinbase IPO will be huge for BTC however it depends when it goes live. I am predicting its going to be months before they go public and hopefully by then the global events won't get worse.
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I think if there is a top it might actually be somewhere in the ~$70000 area. Reason why is because most people will want to take profit at $100K. Or at least start taking partial profits. Yes $70K is not $100K however its $100K in Canadian dollars and Aussie dollars.
There will be major selling in that area. Look at all the people who bought before $20K broke or the people who bought in the $33K area. They will have significant profit at $100K. So most will start taking profit there, so I don't think $100K USD will happen. Most like $100,000 Aussie or Canadian.
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So I had a few people scheduled to come and pickup some of my GPUs this weekend. Then all of a sudden one of them says he is not interested, then a few hours later another guy says he doesnt want the GPU anymore. Then a few minutes ago some other guy cancelled. This is very strange.
Then I look and all of twitter and reddit everybody is talking about EIP going live in July. So does this mean the GPU prices top is in?
I read the EIP 1559 and honestly how does it work exactly? I don't think it means that gas fees will always be lower. What about during spikes or Defi craze like we had a few months ago?
It seems like a perfect way to benefit ETH holders and screw over the miners.
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