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Alright here is an update. I finally managed to get 1000 H/s out of my RX 470 4GB Hynix GPUs with Windows 7 using the Blockchain drivers and memory strapped with "Pimp my straps".
However I am getting a weird issue. Sometimes all my GPUs hash at 1000 H/s however if I close the program and restart right away, some hash slower like 850 H/s. If I restart windows, it sometimes goes back to 1000 H/s however sometimes it does not. I basically need to power cycle it a few times to get all the GPUs to hash at their max speed. Anyone ever get this issue?
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I think right now it seems that alot of bitcoin price manipulation happens due to the leverage futures exchanges like Bitmex.
They offer 100x contracts and since they have the most volume, many algo bots follow those markets and arbitrage on real cash exchanges. So its not hard for someone with 200-300 BTC to open multiple accounts on Bitmex and starts multiple $10,000,000 market sell/buy orders and create a domino effect of liquidations.
Its very odd why for the last few months we have been having business days of little volume but on the weekend having huge moves... usually weekdays are suppose to be the most volatile and not vice versa. But it seems like the whales are taking advantage and assume that less people trade on weekends and they try their manipulation then.
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This is basically how markets work in general. Why do you think it takes years for price to climb in a bull market but it only takes a few months for price to fall back to the same level? Its due to fear. I am not talking about Crypto here but stock market in general.
Look what happened at the end of the year to the stock market. People were reading the news and seeing news articles about "2008 like recession coming back" and they all panic sold all their stocks in the red. And then it all quickly rebounded.
Its easy to say.... "just hodl" however if you got real money sunk into this then its not as easy as it sounds just to ignore the bitcoin price and move on with your life. It will affect you and every day that it goes down 5%, eventually you will panic sell to stop any further losses. And this usually means that the bottom is near.
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I don't know where did you get this information but I think you were totally wrong.
Don't know why this thread was bumped, but I'm finding it interesting. I've always read that cloud mining operations are mostly Ponzi schemes, and I tend to believe it. People want to get into mining, especially during bull markets (when it's most profitable) and from my understanding it's very hard to mine enough in an individual operation to cover all the costs involved in doing so. So people turn to these scammy, fly-by-night cloud mining places that offer you hashing power--but there's no way of telling what they're actually doing with your money once they get it, and I've definitely read a number of scam accusations on bitcointalk about these places. Not in a while, however. I think people have wised up to the game and aren't getting scammed as often as they used to. As I said, it is more profitable to mine when the price of bitcoin is high, and that should make intuitive sense to anyone who thinks about it. The difficulty in mining has nothing to do with the price, so you can recoup your expenses much quicker when the price is higher. As far as making money in a bear market, I vote for the buy-and-hold technique. It's always a gamble, but when bitcoin's price is down it usually rebounds. It takes balls, however. It's much easier to have enthusiasm for and to buy something when the price is going up than it is when it's going down. That's why most people don't make any money trading IMO. I think the issue with the cloud mining contracts is that its mostly new adopters who get suckered into those contracts who don't exactly understand how difficulty works. Basically I've met 2 individuals locally who got involved in these mining contracts. They said that it was a better deal for them since they didn't know how to "build computers" and had "wives/girlfriends who didn't like loud computers" so the cloud mining was a better option for them. They said that "If BTC goes down in price ... we will all lose money anyways". But I told them what happens if the price trades sideways or goes up slowly and difficulty starts to increase expoenetially, they had no idea what I was talking about. They assumed if you make 0.01 BTC today... you will make this 1 year from now when the contract expires. And this the reason why they are so popular is because most people don't know how difficulty works. Neither did I when I started my GPU mining farm a few years back. Learnt it the hard way. |
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No idea if people still use the iPhone 5S (same as iPhone 5 ) but with the default Safari browser I had a friend today who tried the site for the first time on his mobile and he has issues navigating it.
Basically when you go to Stake.com on the browser it displays a graphic featuring 2 dice, however right below this graphic there is another graphic logo that shows "900x" and its labelled as "Dice" however this game when it tapped it actually goes to the Limbo game. So my friend couldn't find how to access the dice game because the text was closer to the Limbo logo than the Dice logo.
Let me know if you have trouble determing what I am referring too, i'll post a screenshot if needed. However I am wondering shouldn't the text of the game be located above the logo graphic and not below it and closer to the next game?
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From what I understand they are actually buying the physical tickets for the Powerball lottery. So if by a small chance someone actually does win the Powerball, they will win the price and send it off to the user. However keep in mind there will be issues with this such as tax reasons, etc.
This most likely won't happen anytime soon. Its very rare to actually win the lottery. Honestly in my younger days for fun, I used to buy the lottery tickets every week or so. Would buy 3 sets of tickets, and the lowest amount of numbers you need to win $10 was like 3 numbers and it was actually very rare to hit those 3 numbers even.
They are just using powerball results for their lotto platform for Fairness, If someone wins in the matchbillion it doesnt mean that ticket is also in real powerball draw. Ok thanks for clearing that up because I was getting confused. At first I assumed this was like a middle man where users purchase virtual tickets and forward their payment and then the operator actually goes out and physically buys the ticket. So the way the site made money was they profited a little off the winning tickets with some house edge. However it seems they are just using the numbers as an alternative way to generate the results instead of using hashed seeds and provably fair. This makes sense because there would of been alot of paper work and everything if there was an actual winner who won like >$1 million and the site would need to receive the winnings, pay the taxes on the winnings and then buy BTC with the winnings to pay the winner. It would be too complicated. |
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I started with GPUs, then I transitioned to ASICs and then I transitioned back to GPUs. There are basically pros and cons of each.
With GPUs you can basically always resell the hardware as long as its not fried or has issues like failing fans. The Intel CPUs and motherboard will always hold some form of value. GPUs have many uses besides mining such as Gaming and Video rendering. Even 5-6 year old GPUs can fetch some money these days. If you buy the hardware new, you usually have a few years of warranty which doesn't exist for ASICs.
The issue with GPUs however is that they are very bulky and take up alot of space. If you want to have 50-100 GPUs you will need a large area to house all those GPUs if you plan on having an open air rig.
With ASICs they take up less space, are usually set-and-forget and they are usually more newbie friendly. Just buy a PSU, hook it up, set up a pool address and mine away. However they are crazy loud and usually require a seperate room, you cannot sleep or live in the same room as ASICs which have industrial fans. And they generally are overpriced at launch and they hold very little value when newer and more efficient technology is introduced. Usually someone might buy an old ASIC like an Antminer S5 for like $20 to play around with, but that is crazy depreciation as compared to a GPU.
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The OP hasn't replied for almost 2 weeks. I am pretty sure he is not coming back.
Like the previous posters have said, even if its not a scam there are many issues with buying a script programmed by someone else and risking your bankroll BTC to run it on a server.
In the past there were many simple dice scripts which were found online, many people used them and discovered that they were actually being cheated due to exploits in the scripts.
This is why its not a good idea to buy anytype of scripts unless you are going to get the code audited somewhere or do the programming yourself and not start from scratch.
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I'm a bit confused, if you win 550 million MBL or whatever, how can you turn that into real money? Would it crash the MBL economy and turn it into a worthless penny stock or is there something I don't know?
From what I understand they are actually buying the physical tickets for the Powerball lottery. So if by a small chance someone actually does win the Powerball, they will win the price and send it off to the user. However keep in mind there will be issues with this such as tax reasons, etc. This most likely won't happen anytime soon. Its very rare to actually win the lottery. Honestly in my younger days for fun, I used to buy the lottery tickets every week or so. Would buy 3 sets of tickets, and the lowest amount of numbers you need to win $10 was like 3 numbers and it was actually very rare to hit those 3 numbers even. |
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April is a touchy month because you need to realise that April 15th is when taxes are due in the USA. Even though it was a bearish year, there are people who still made crazy profits.
So after the November dump, they basically were waiting for BTC to get a good rally so they can sell to pay their tax man. So this explains why every rally usually has a huge sell-off. This will most likely keep happening until early-mid April.
This is also the reason why the Futures are again at a discount on Bitmex and it has a negative funding period mostly, its due to hedgers.
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I think that Bitcoin is basically lagging the moves of Ethereum and Litecoin, possibly only Litecoin.
Basically the sell off earlier was because LTCUSD hit resistance at $59.75 area (Binanace chart) which was resistance since it was prior support before March 18th 0600 GMT.
This area was test twice prior and on the third test it was rejected hard and LTC dumped into the lower $58 area which looks like it maybe held.
Looking at the Bitcoin chart of the similiar range, it didn't really have any resistance areas to cause the sell off, so basically it was lead by LTCUSD.
Which is similiar to what happened also on March 17th at 0000 GMT, basically there was a huge dump and it was most likely because it was the retest of the ETHUSD $141 area which was an important level, basically was strong resistance, then falls break, and strong resistance again.
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Right now most casino's don't do any form of KYC however that can quickly change in the near future. It will be no different than most exchanges which a few years back were "no kyc" and now most exchanges require KYC.
This is mostly due to regulation and its needed if Crypto is to have a future. Basically crypto gambling will be no different.
The only sites that did perform KYC was usually due to some tainted coins being depositted into the casino, made 1 bet and attempted withdraw. This is why many casinos perform manual withdraws for new registerants in case they trace the BTC as being stolen.
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Basically since we broke $6K last November, pretty much every pump has been shorted down almost immediately.
However we actually had a failed low and have been slowly creeping up. One indicator that I look at is the open interest on Bitmex.
We are around the $500 million mark which is pretty constant which means that traders haven't taken profit yet.
Last time when we hit $4200 last time around the open interest basically shrunk by $100 million. This time it shrunk by $10 million or so which is very small.
So I am thinking we will at least test $4200 and who knows what will happen in that area. If we break it then it's a crazy FOMO short covering rally to $5000-$6000.
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The rejection of the $141 doesn't look well for ETH. The way that the daily candle closed was very bearish and this is the 4th time that we failed to breach the $141 level.
Last week it was actually in an inverse head and shoulders pattern and I took a long at $133 and assumed that the neckline of $141 would break this time and we would retest the $160 area and either break or pullback from that area.
The only hope is that the OI off Bitmex hasn't decreased by much in the last dump so I am assuming most traders havent' exitted their postions yet.
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1/4 the hashrate on XMR now; those ASICS really squeeze out the little guys for sure.
If asics/FPGA weren't manufactured and used in such a scandalous way, or if the hardware was cheap; then they wouldn't be such a bad thing. Similar to the initial BTC hardware days...... But over the last 2-3 years; the hardware has become increasingly more shady in terms of price and time to public market... which drove XMR to act the way they are by forking every 6, and now (from what I read) 3 months....
I notice a nice steady nethash now; as well as lower nonces in the blocks recently.... This is a true telltale sign that the asics were owning the world for a while. You could tell when the gigantic FPGA farms were turning on and off for a day or two at a time. Block times and nethash looking like a roller coaster. Definitely not normal... all of this is pretty much gone from the network now.
Such a catch 22 of a subject no matter what stance you take.
I am enjoying my profitability jumping way back up on my rig full of outdated hardware that acts as my space heater.
I really hope that ETH devs decide to fork to ProgPOW in the next few months and it will be interesting to see how many ASICs are actually mining ETH. I am guessing that many of these ETH ASICs are private and were never sold to the general public, only the inefficient ones Bitmain sold which was a similiar efficency like a GPU. I am guessing that 50% of all ETH hashrate is some form of ASIC or FGPA. |
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This card gives 8-9 sol/s while mining Beam with lolminer. It is profitable even now.
I looked into this and doesn't seem very profitable. Basically using Nicehash prices of 0.006 kSol/BTC, you make about 19 cents a day. But what is the power consumption? I am guessing its at least 125 Watts so with 0.10c power it yields a loss. Unless I am calculating this incorrectly or the Nicehash rate for Beam is way too low? |
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I rather not upgrade to Win10 because it would be a headache.
I played around and flashed my ETH bios straps on the GPUs and now I can get 800hs with 1950Mhz memory clock rate.
I assumed you are not suppose to use ETH bios straps with XMR mining because it leads to system hangs? Been a while since I mined XMR.
What are the optimal straps for the Hynix type of RX 470/570 GPUs.
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Giving this thread a bump.
Wondering if there is anything out there worth mining with the Tahitis. Basically ever since the XMR fork last week it made the last working algo obsolete since the new non Claymore miners don't support CNR.
The algo was good because even though the speed was slow the power consumption was low. Wondering if anyone had any luck getting CNR working with the Tahitis.
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Anyone here have success in mining with Windows 7?
Basically I used the stock AMD drivers 19.3 and stock bios and the most I get is like 400 Hs with a RX 470 4GB.
Increasing the settings from 1242/1650 to like 1242/2000 does little change. The AMD drivers in Win 7 don't have a compute option so you can only use those Robinhood drivers from like 2 years ago.
Using those drivers yields like 650 Hs with 1242/2000 and can't go any higher.
Wondering if I need to mod the BIOS from stock straps or is it only possible with Win 10 and Ubuntu?
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The problem with Bitcoin during the 2017 mania was that too many people wanted to show-off their earnings and that's how the kidnappings and thefts started.
I remember a long time ago before Bitcoin ATMs I met an individual in public to buy a few hundred dollars worth of BTC. This was years ago. He seemed nice and everything but he was showing off how he had $50,000 in his laptop bitcoin.dat file.
I told him you need to becareful because you don't know who you might run into and you might get robbed. The reason why its popular with theft is because its not reversable and once its sent, its gone forever.
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