Ok ... but what if investor confidence drops? What if supply outweighs demand by a ten fold? What if, what if ... You know that a ETF isn't going to be approved in 2018, so scratch that. What other catalysts are there? Lightning certainly isn't going to be mainstream in 2018.
Then the market turns even more bearish. I personally don't think we should be searching for a quick fix just so we can see another bull run at the year's end. Custodians seem to be really starting to gear up though, so they may know something about the situation that we don't. I'm not sure how I feel about institutional money flooding in, but if it's going to happen, it's going to happen. Same opinion here. I think we're past the point of no return in terms of institutional money flooding in. I don't think it's an "IF" anymore. Just a matter of time. |
|
|
|
Tom Lee: Bitcoin Price Starting to Reverse, 2 Catalysts Will Drive it Higher in 2018Throughout 2018, Bitcoin has continued to record lower highs, testing major resistance levels at $10,000, $8,000 and $7,000. According to Fundstrat’s Tom Lee, the stability of Bitcoin at $6,000 regardless of its lower highs is optimistic. In early 2018, Fundstrat emphasized in a report that the $6,000 level will likely be held by Bitcoin in the mid-term because it is the breakeven point for miners. That means, miners that utilize electricity and mining equipment to verify transactions on the Bitcoin network can still generate some profit if the price of Bitcoin stays above the $6,000 level. Lee explained on Bloomberg that the stability of BTC at the $6,000 mark and two major catalysts awaiting BTC in the year end could push the price of BTC up substantially within the next two months. https://www.ccn.com/tom-lee-bitcoin-price-starting-to-reverse-2-catalysts-will-drive-it-higher-in-2018/ Ok ... but what if investor confidence drops? What if supply outweighs demand by a ten fold? What if, what if ... You know that a ETF isn't going to be approved in 2018, so scratch that. What other catalysts are there? Lightning certainly isn't going to be mainstream in 2018. |
|
|
|
This topic should be moved to mining Altcoin discussion instead
requested mods to move it
Should be moved to the trash section of the Altcoin Mining discussion section. |
|
|
|
Looks like the XMR fork is coming soon. About 3 weeks or so. And it doesn't look like Claymore will be updating his software to support the new algo.
Any miners out there that are stable for the AMD RX series and maybe the old Litecoin era GPUs like R9 280X/Radeon 7970 ?
XMR-STAK? When I tried that program in the past, my speeds were much much slower than Claymore and if I added more threads it basically ended up in an instant freeze. It seems to work better for newer GPUs but seems unstable for the older GPUs. Maybe will see if there is a newer version that is more stable. You may be right about using it with older gpu's. I've only used it with Vega 56's. |
|
|
|
Looks like the XMR fork is coming soon. About 3 weeks or so. And it doesn't look like Claymore will be updating his software to support the new algo.
Any miners out there that are stable for the AMD RX series and maybe the old Litecoin era GPUs like R9 280X/Radeon 7970 ?
XMR-STAK? |
|
|
|
|
It won't exist in 5 years.
|
|
|
|
Massively inaccurate statement. It costs $9343 to use that amount of energy, but that energy is not used just mining Bitcoin, but also securing the network so that other people can be sure their bitcoins are safe. And didn't you know, Bitcoin miners don't just get paid from newly minted bitcoins, but also from the transaction fees of all the transactions included in the block they mine, thus you would need to deduct those from your cost estimate.
Yeah, and that "fee" is well visible here: https://bitinfocharts.com/comparison/bitcoin-transactionfees.htmlIf someone says, that, there are many transactioncs, then, no, its a bullshit, the are not: https://bitinfocharts.com/comparison/bitcoin-transactions.htmlAnd yes, original statement is not accurate, its too BTC friendly. It ignores costs for suitable mining equipment, now, when blockchain is alredy 200 GB large. I lol, whats gonna happen, if it hits 8 TB for instance. Increased total chain size has nothing to do with block time. |
|
|
|
Agree getting stable OC is 100% better than making it at MAX OC just to get 1mhs faster.
Also "DO NOT DOWNLOAD NEW/UNKNOWN MINERS" just too many scams out there.
GITHUB |
|
|
|
- If you are thinking about starting mining, don't.
- If you think you should mine anyway, don't.
:-)
That's pretty good advice for 99.9% of people. |
|
|
|
here are a few i can add:
- write down things you do for initial setups so if you have to re-image you remember what you did. i finally got my 6th card working on a H170 Asus after 7 months, fuck if i know how but now im terrified when i need to rebuild it lol
When I was using Win10 for all of my rigs, I was using the free version Macrium Reflect to make images of each hard drive after all of the initial set up was complete. It's extra work, but it came in handy when I had a ssd go bad. |
|
|
|
|
And if you're not mining with Vega's, use Simple Mining OS. Switched all of my Nvidia rigs to SMOS months ago. Never have been happier.
|
|
|
|
There are huge mining farms in the USA that have half that electricity cost. I personally have a cost of slightly less than 0.10/kwh. Bitmain certainly doesn't have a cost that high. You're averaging USA electrical costs and coming up with a number that btc should be valued at? We are not the only country in the world that is mining crypto.
All of that aside ... I would never sell my btc at 12k. The majority of the btc that I hold will not be sold under 50k. It can either reach those levels or I'll watch it go to zero while I continue to hold. I don't care if it takes 3-5-7-10 years to get to the point at which I would sell, I will wait or I will watch it go to zero.
Yea sell them at 50k, but how eill you oay mining cost  ? I pay nothing for mining, my electric costs are negotiable at very bulk. Anyways the point was to notify all panic sellers that atleast don't sell btc below the mining costs it takes to make the coin How to pay for the electrical cost of mining today, if you hold your mined coins for years? Simple ... Pay for it with other fiat that isn't invested in crypto. lol logic of a kid, this is not how business works, let the real people run the mining, we need to pay maintenance, upgrade, all these things require money, which should come from crypto as if we had any other source of income we would not be doing 1000TH/s farms.  All of it can come from crypto, but it doesn't have to come from crypto today. |
|
|
|
I think you're misjudging the cost of mining. Many large miners spend about $ 6000 per bitcoin, in China about $ 5000. If you personally spend $ 12,000 on creating one bitcoin, this does not mean that everyone has such a situation.
Yeah I think he is fuckered up. In the past 12 months, I have mined and traded for approx. 3 btc. Those three btc cost me approx 6k usd in electricity. The hardware cost me approx. 20k usd. I plan on holding them for the next several years, if need be. You do the math. |
|
|
|
There are huge mining farms in the USA that have half that electricity cost. I personally have a cost of slightly less than 0.10/kwh. Bitmain certainly doesn't have a cost that high. You're averaging USA electrical costs and coming up with a number that btc should be valued at? We are not the only country in the world that is mining crypto.
All of that aside ... I would never sell my btc at 12k. The majority of the btc that I hold will not be sold under 50k. It can either reach those levels or I'll watch it go to zero while I continue to hold. I don't care if it takes 3-5-7-10 years to get to the point at which I would sell, I will wait or I will watch it go to zero.
Yea sell them at 50k, but how eill you oay mining cost ? I pay nothing for mining, my electric costs are negotiable at very bulk. Anyways the point was to notify all panic sellers that atleast don't sell btc below the mining costs it takes to make the coin How to pay for the electrical cost of mining today, if you hold your mined coins for years? Simple ... Pay for it with other fiat that isn't invested in crypto. |
|
|
|
|
There are huge mining farms in the USA that have half that electricity cost. I personally have a cost of slightly less than 0.10/kwh. Bitmain certainly doesn't have a cost that high. You're averaging USA electrical costs and coming up with a number that btc should be valued at? We are not the only country in the world that is mining crypto.
All of that aside ... I would never sell my btc at 12k. The majority of the btc that I hold will not be sold under 50k. It can either reach those levels or I'll watch it go to zero while I continue to hold. I don't care if it takes 3-5-7-10 years to get to the point at which I would sell, I will wait or I will watch it go to zero.
|
|
|
|
China only buys like $120 billion from us , so in the long run tarrifs hurt them more. They will have to come to the table by mid 2019. First the tariffs hurts US consumers who have no domestically produced alternatives to choose from. The reduced consumption will hurt US retailers before they hurt Chinese producers. I's a comical misconception that China will pay the tariffs to the US government  See it as a 25% sales tax instead... Grey importing Chinese goods trough Taiwan, or even Europe? I work for myself and what I do is a physically demanding job and what I see is the problems is Americans are lazy now people don't even want to get off their ass to grocery shop now plus everyone wants to make $100 a hr and sit on theirs ass to do it with the best benefits and 200 days paid off shit is out of control we don't produce anymore cause no one wants to work thats the problem its not China or Vietnam, I can't even find a 18 yr old kid that want's to do anything besides plant their face into a cell phone or ps4 americans actually work more than other first world countries , more hours etc He's just old, tired, and out of shape, thinking that this is America in the hardcore industrial revolution days again. I'm 34 years old. When I was a teenager, I had plenty of physically demanding jobs that I was paid shit for, but I was also planting my face in the screen of a commodore 64 at age 12. At age 14/15/16/17 it was the screen of a WIN95, WIN98, LINUX computer. Or planting my face inside of one looking at the hardware. By the age of 18, I didn't need a physically demanding job. There were plenty of information technology jobs that paid well enough. Some of those jobs were hauling around pc's and crt monitors and setting them up for client's (which was a bit physical), and that was crappy, but it was a start. Between formal continuing education and self taught education as a teenager, I have been very successful in the information technology industry (planting my face into a screen) over the past 14 years. There is a huge difference between planting yourself into the screen of angry birds and planting yourself into a screen that contains the knowledge that will help you build a better future. You don't have to move thousands of pounds of rocks around to be successful. Everyone shops for grocery's unless they don't eat or only eat out. Most people don't make 100$/hour or even close to it. And no one gets 200/365 vacation days per year. I feel lucky to have 4 weeks of paid time off per year. |
|
|
|
Sureee i will invest, after the massive pump of ripple a few days ago i really considering to invest in crypto and now i already do research about that project and what's gonna happen next with this good project.
Wait for the pump and then decide to throw money at it. Yeah, good idea ... Lol. |
|
|
|
but now with the tarrif bull shit its up to $13k
25% tariff will be a blast, finally US residents will feel how to be ****** by its own government. RX 580 which was $250 now will be $300. Mid card gpus in the usa will start at $300 hehe, used to be $150, gold age done for. RTX 2080ti founders edition from $1299 to $1699 hehe Good time to start offloading older gpu's then  |
|
|
|
noone should be mining right now. You are almost all mining at a loss with no granted profit.
I don’t see it as mining at a loss, I look at it as investing in the future. You don’t stop contributing to your 401k at work just because the stock market is down. This is true, but the big thing around here is that (depending on your circumstances), it may be more cost effective to buy coins from an exchange as opposed to mining. Depending on your electricity cost, you may end up better off using the money you spend on electricity to buy the coins that you want. That's just something that you have to calculate yourself. |
|
|
|
|
Show Posts
