These posts on bitcointalk and crypto twitter are proof that most of the people here are just in it for the money and are most likely over-leveraged. Same is happening on the stocks and wallstreetbets boards. Instead of buying stocks or crypto by spot, they use margin or leverage or buy options and its what wiggles most people out with moves like this.

I honestly think this is just another dip before calling it a local top but until we get confirmation then nobody knows for sure where the markets are headed. We are correlated with stocks and Covid19 and election results will play a deep role into how all of this will turn out.

You can hedge the price of ETHUSD but you can't hedge the difficulty. Which is a problem because if you hedge to early you will screw yourself because the difficulty will be much higher than anticipates and instead of earning $100/day at current prices you might earn $50/day if you hedged at half of ETH's price.

I though about doing this before but I got screwed a little back in 2017 because we all know what happened with ETH. Remember early in the year when we assumed $100 ETHUSD would be the peak? Well it ended up going 14x higher than that. The best would of been hedging at $1400 but who knew if that would be the top.

Right now honestly is not the best time to start trading. The markets are crazy erratic and make no sense. Maybe not Bitcoin or Ethereum itself but the DeFI tokens and any of the stocks on the stock market.

Basically its a pure bull market and pretty much "ANYONE" can make money in this market. And this gives false hope. Basically people make money, tell their friends, who also make money. Pretty soon they are all going to get greedy and take out loans and lines of credit on their homes because they all want to be millionaires. And we all know what eventually happens. Basically the dot com bubble repeats or the 2017 crypto bubble repeats. It won't be pretty.

There is no right answer when is the best time to get into mining. When I started back in 2014... it was also a risky time. Basically its when BTC peaked and its around the time that ASICs for Litecoin came out and mining profits were brutal. Basically if I recall an R9 280X, the best mineable GPU at the time was pulling in about $5/day. Then a month later it was like $2.50/day, then $1/day, then $0.50/day to pretty much losing money. Basically with a retail price of $400, I think some ROI and some didn't.

However I kept the gear and reused it for mining ETH later in 2016. I honestly think 2016 was the best time to mine because it was profitable... but not too profitable where GPUs get sold out everywhere.

2017.2018 sure was more profitable however it wasn't "that" profitable for long. Basically GPUs sold out everywhere, so you couldn't expand your farm. And the days of making $5-10/day/GPU were sort lived. So when you are buying a $1000 GPU, even with a $10/day/gpu, would still take 3 months.

Today is basically the most profitable mining day since February 2018, pretty much when ETH was >$1000. With RX 470, which is not considered efficient at all in todays terms is pulling in $3/day/GPU.

Keep in mind, whats different now is that the reason why mining is so profitable is due to all this DeFI greed. People basically paying $50 to get a Defi transaction going. I think the block reward average is like 7-8 ETH just because of ETH. The average Gwei for today was like 500 or so. Which is $5 for a simple transaction even.

So if the rug gets pulled the profits will quickly vanish which is more likely to happen rather than ETH crashing in price. So this time I am not planning on expanding my farm. Don't want to get stuck with GPUs that even gamers don't want to buy.

Yes GAS fees have never been this high before. I think just to send a simple transaction where you send directly to another user (no contract) is around $3.50. But if you actually want to do a contract transaction using gas fees of 375 Gwei be prepared to pay more in gas fees than to actually fill up a car pretty much.

I think many people that are getting involved in this probably have no idea how any of this works. They might not even know how much is actually being sent to perform a Defi transaction. But I guess paying $100 in fees is already when you made $10000 in less than 24 hours.

Either way, this smells like the ICO of 2017. It could end badly or actually it will end badly however the question is .... when

Its very strange that it would freeze because it was pulling too much power. I think on stock voltage those GPUs pull maybe ~150-160Watts each, so 6 of them is around 1000kw. The PSU should still be able to handle it because if I recall the G2 1300W PSU was single rail. So it didn't matter which way it was delivering power.

If you got a quality PSU you can run it at 80% load most of the time and not get any issues. I remember back in the Antminer S2 days, those pulled 1000Watts out of the box and the PSU included was a 1000Watt PSU. And basically a large percentage of them ended up failing since they ran at 100% load non-stop but there was also tons that ran fine at 100% load for years. Hence 80% load on a quality PSU shouldn't be an issue.

Back in late 2017... early 2018 the prices for many GPUs were inflated but not that much. If I recall people were paying $1000 or so for the 1080 (or 1080Ti) and that's about it. I think they were retailing for $700 from the factory.

I think what were the bigger rip-offs were the RX 470 cards that people bought in 2016 and were trying to sell for like $300-400. But back then everybody was crazy about crypto. It was on the news pretty much non-stop in some way and not a surprise it ended badly.

I don't think its your PSU. If you want to eliminate your PSU as the culprit just run the miner with reduced intensity, basically run it at 50% and see if it runs then. It will use less power and you can see if its your issue or not.

Try what I suggested and get your motherboard manual and find out about the available lanes on your PCIe slots.

There is so much wrong here. Why did he need to download an older version? Why not just download the current version which doesn't have this issue?

Also why would you keep 1400 BTC on a hot computer, at the very least if you don't want to buy a hardware wallet you could use an old laptop as cold storage and just need to save the keys somewhere.

He also seems pretty calm after losing so much money. So I am very puzzled by this.

Could be a publicity stunt to get donations however... if you got 1400 BTC why would you need to beg for donations? Doesn't make sense. This made headlines everywhere, saw it on Twitter, saw it on Tradingview crypto news link, etc.

No 100% is the limit. And honestly if setting the fan speed faster than 75% doesn't do anything then setting it at 100% or 110% won't cool your cards. You basically got a overheating and air flow issue going on.

Do you have an open air rig or is this in some enclosed computer case. If its enclosed try and take off the cover. If you got some Crossfire set up then put the desktop facedown so the high air can travel up instead of directly into another GPU.

If you really want faster fans then you can always take off the fan shroud and zip tie a few case fans to your GPUs.

The only thing I can think of is that your motherboard is pretty much sharing some PCIe lanes and why you are getting this issue when you add the 5th GPU. I had some motherboard like this in the past, and wasted so much time trying to figure out what was wrong but basically according to the owners manual there were some shared lanes on the PCIe slots.

Basically you can have 2 PCIe slots but you might only be able to use 1 at a time even if you are using risers and running it at 1x. Go to your motherboards manufacteure website and download the owners manual and see if there are any shared lanes.

Your Radeon 5700 can make about $2 a day or so. With $0.10 kwh in power its more like $1.80 or so. So you can probably make $50 per month as long as you mine almost 24 hours a day.

Your CPU is also very good however I don't mine CPU coins so have no idea. The coin to mine with that CPU would be Monero.

RAM doesn't really mean much in mining, can't really mine with your ram. Just make sure to keep your case well ventilated so it doesn't over heat. And disable mining when you are going to play a game.

You can probably even go to Craiglist in your area and there might be some miner out there that wants to just sell his BTC for cash. Just check your local listings and see what you can find. However keep in mind you can't do 5 figure type of deals this way. Very risky.

If you want to buy that much of crypto then you got no choice but to KYC. This isn't 2012 anymore, most exchanges require KYC due to money laundering. The exchanges that don't they are usually crypto to crypto exchanges and you can't deposit fiat into them.

Or like I suggested before, just go to a bitcoin ATM and call it a day. The fee is high but if BTC keeps going up and up then it won't be an issue.

If you want to be a long term investor then just buy it on your exchange with the high fees and just hold it for a few months...years. The fees won't mean much when it goes up another 50-100% or so.

If you want to day trade then you need to buy BTC once and then just send it to another exchange. There are tons of futures exchange out there with very low fees and there are also many exchanges like Binanace which have low fees also.

Most likely that exchange you are using is geared mostly towards investors and not traders.

Your best bet is just to go to a local Bitcoin ATM and buy some that way. Unless you are buying large amounts the 10% fee that they usually charge is not that much and saves the headache of having to create an account at an exchange and go thru verification process.

You need to understand Credit card and Paypal are easily reversable so don't be surprised that they require verification first. I just don't think it will be possible using those methods. Best bet is cash and go to a Bitcoin ATM and you are set.

I did the exact same as you, basically took a pen tube and cut it in small pieces and used those as the "spacing" between the wood and motherboard. Don't let the motherboard sit directly on the wood because there is a hot spot in one area, I think its the South or North gate of the motherboard and can get hot, might start a fire.

I also was going to use aluminum but they were too expensive, so I got some steel ones however they were crazy heavy and just stuck with wood instead. Had open air wood rigs for years and never any issues.

Well, there actually was a R9 270X which had 4GB of GDDR. I think it was made by Sapphire, so its possible that he can still mine ETH with a 270X and might of just done a typo when he said 2GB.

However even if the 4GB actually loaded the DAG, it had other issues with thrashing and while R9 270X mined at 15MH/s back in 2016, I am sure now it would mine probably at 7MH/s or so due to that bug. This is similiar to what happened with the R9 280X GPUs back in 2016, they mined at 22MH/s and later in 2018, they mined at like 12MH/s and no fix was issued.

The market caps on CMC don't always mean much. One reason is because there could be a small cap coin listed on some unknown exchange with a large market cap while another coin listed on a reputable exchange like Binance can show a much lower market cap. In this scenario market cap doesn't mean anything.

Sure the lower cap coin seems like it might rally much easier however there are more players on Binance than say a smaller unknown exchange. Hence you always need to do your due diligence.

What kind of motherboard and CPU is this? It should take 40 watts or so not 140. If you got some old Quad-core intel CPU then I guess it makes sense. However for most low power celeron processors it seems high.

With 5 GPUs of Polaris GPUs your consumption should be ~650 Watts or so. 800 Watts seems high, most likely due to your CPU+Mobo. Are you sure they are all undervolted to 900mV at least?