I’m an electrician. It’s defintiely doable. Just get the right cord which plugs in to your oven receptacle and then the correct adapters for you PSUs and you should be good.
As in a 40A 240V PDU? |
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I'm considering moving to Detroit to buy old houses at~20k USD on a first home mortgage, mine in an unfinished room while upgrading the rest of the home, then sell and move everything to the next. It seems like the best way to take advantage of the current markets and Michigan already has cold winters with high heating costs so mining as a form of heat is a plus.
i am thinking about that too. But on a cash basis, it looks like many of the homes on low end are asking for cash only. Mortgages by the big stupid banks has become unbearable painful. I am also doing some research on detroit (which area is good and bad etc.,) since I never lived there. Get a place on 7 mile. I'm sure you'll be super happy  Maybe he'll run into Eminem. |
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I would get a 40A 240V PDU.
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Falling, which is not very good for me.
It all gonna to be ok. Lol. |
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Would someone tell the Winklevoss twins to offload some of their btc, so I can get some fiat in at 8K tonight? Lol.
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One other thing ... You're not converting to fiat on a daily basis right?
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Im down by almost $20 a day on nicehash.
Over what period of time? A day, a week, a month, a year? The last week. You can't compare the fiat value. You have to look at the btc payout. You also have to track the payout times. Some days, are 26 hour days ... Some are 23 hour days. I keep track of that. I get paid at 5:30 AM every day. A week ago I was getting $35+ a day, since I'm barely breaking $20. Nothing has changed hardware wise. How are you so lucky to get paid at the exact same time every day? ... 01-21 07:27, 01-22 06:36, 01-23 06:38, 01-24 06:19, 01-25 07:06, 01-26 06:46, 01-27 06:45 01-28 05:52, 01-29 05:49, 01-30 06:23 .... Those are my payout dates and times since 01-21-2018 ... None are exactly the same. Some are off by an hour and I've seen them off way more than an hour in the past. But again ... You can't track in fiat and expect it to be the same every day. You have to track in btc. You realize that right? Your btc payout should stay close to the same, but in fiat, it certainly will differ based on the conversion from usd to btc or whatever fiat is for you. As I said ... My btc payout is worth much less in fiat at a btc price of 9800 compared to my btc payout of the same when btc price is at 12000. And as far as the dashboard goes, don't even bother trying to track anything with that. It changes dramatically every 10 minutes. |
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Give it 100 years it'll be worth nothing (;
Yeah ... I'm selling before I die, for sure. |
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well I just installed a rx 580 inside the same case as my 1070. The 1070 is a blower style fan that keeps cool at its overclocked speed
the rx580 dual fan by asus gets HOT its running at 76 C while my MSI aero 1070 runs at 65 C
the rx runs to hot, I can see why BOTH amd and nvidia are now putting in blower fans while the cheap after market gtx are using a cooling system that makes the entire PC hot
its this hot and its in middle of winter, I am seriously considering selling both 1070 and rx 580 and just getting 2 water cooled 1080tis and be done with it,
no more fans, no more fans breaking, no more worrying about the heat in the summer.
at this rate in the summer the rx 580 will die it just runs to hot
IMHO, the open-style fans are fine as long as you have an open frame mining rig and run an external fan perpendicular to it. The 10-14 inch fan adds an additional ~50W to energy cost but they work well to force hot air out thru the spacing between graphics cards where hot air gets trapped. Ive noticed that even tho open-style fans have heatsinks that are designed to force hot air out thru either the back or front end of graphics cards, when you have 5-19 cards stacked in parallel the temperature kinda get a little bit higher going from the first to the last in the fan direction. im shocked there isnt more water cooled options. thinking of making 2 PCs with water cooled 1080tis, so 4 1080tis in their case, sitting in a corner nice and quite. I can put them in different places. its easier for a pc to sit in a corner and nobody notices it, If I go on vacation for 2 months, I feel my water cooled GPU will be ok in the heat. but I think the blower fans are like new tech, 1 fan does a better job in the case. but then I dont know how these blowers will work when its 90 degrees out. the price of a regular 2 or 3 fan 1080 ti is as much as a water cooled one, I never had water cooled anything but if I had the money all my GPUS would be water cooled https://www.youtube.com/watch?v=8s_je7-BIEcim still seeing how I can do this with 2 1080tis water cooled but I dont want anything to break, I dont see many people mining with water cooled so Im a little cautious about spending on water cooled gpus could I get 2 of these and put in case and not worry? https://www.youtube.com/watch?v=4ugGv0kw8pQIn my opinion, the water cooled cards are more expensive and I can't justify the price, when I can buy any other style card cheaper, and keep them cool. Blower, or other. I don't use computer cases though. I use open air frames with six gpu's in each with a $15 usd dollar box fan on the back of each rig to blow the hot air off of the cards. You also have the worry of water leakage or the cooling system failing. I had a friend was all about water cooling his gpu in his gaming pc, until he started having problem after problem with pumps. I'm still testing solutions for removing hot air from my mining room. I currently have a box fan in the window sucking hot air out, but I think I need a more powerful fan if I'm going to use that method when outdoor temps reach 90-100F in the summer. Leaving the door open in my mining room also allows a lot of the hot air to move out of that room into the rest of the house (with mining room windows open, but we're talking 30-40F outdoor temps here right now. We shall see. Other options may be a ceiling exhaust fan to suck hot air out of the room into the attic. Or a wall exhaust fan to suck hot air out of the room and push it into the house. Or even a movable temporary solution of stackable box fans in the door way of the room to suck hot air out of the room into the rest of the house. everything is expensive right now, a fan style cost as much as a water cooled, why not get the water cooled? unless there are problems. Im going to get one, as I think its just better. All these fans and such and worrying about room and heat, are gone with a water cooled GPU. it might fail but so might a fan, and warranty is a warranty. I wont even need to turn on the AC in my room in the summer and thats priceless, I can SAVE money on electricity just on that. Im going to buy one and then sell my 1070 now and get 2 1080tis with a 3 year warrenty. makes more sense as I bought my pc as an open box for $850 and I could get like $650 for my 1070 I thought about it long time and I think the best move. Whatever you end up buying, just don't buy from resellers. You pay way too much going that route. And that NewEgg link you posted in another thread is a reseller, not NewEgg. |
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Im down by almost $20 a day on nicehash.
Over what period of time? A day, a week, a month, a year? The last week. You can't compare the fiat value. You have to look at the btc payout. You also have to track the payout times. Some days, are 26 hour days ... Some are 23 hour days. |
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So here's the "rumor" and it's more then that. Nicehash is shorting the price of bitcoin on purpose and skimming off the top to help pay back all the money that was stolen.
I have one of my rigs on NH and to be honest with you, I haven't seen any significant drop in my btc payout over the past week. I check it every morning and transfer it to CB. Sure the btc to fiat conversion is lower when btc is at 10000 as opposed to 11500, but the amount of btc I'm getting for that rig in a 24 hour period hasn't changed. |
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Lol @ Turbo Tax. You can't sum up tax law in a few short paragraphs. Talk to a CPA. And talk to one who knows something about crypto tax law. I dunno about that, that's what I read everywhere when comparing different countries for taxes on mining, can't be that wrong. Do you have any recommendations?
Can't hurt to talk to a specialist, but won't change the law, don't forget the government will always want your money, I know it firsthand with some new laws here. It isn't going to change the law, but I'm going to take the advice of a good CPA who has done the research over a boxed piece of software that is geared towards personal and small business. Paying a CPA to do my taxes for a small business outside of the crypto world saved me money compared to what I would have done on my own with Turbo Tax or doing them by hand myself. |
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Do you have any recommendations?
I would ask friends and family for recommendations on CPA's that they've used in the past. Just as I would if I were looking for an attorney or any other professional service. I haven't called around the local ones in my area just to ask if they have experience in crypto taxes, but I have consulted with one that I use for another business that I run. Most of them probably don't know too much about it just yet, but I want one that I personally know doing the research. Don't listen to some guy on the internet, because I'm not a CPA or a tax attorney, or anything of the likeness, but I think there is way more to it than what Turbo Tax has posted on their website, which is very vague and confusing to me. |
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well I just installed a rx 580 inside the same case as my 1070. The 1070 is a blower style fan that keeps cool at its overclocked speed
the rx580 dual fan by asus gets HOT its running at 76 C while my MSI aero 1070 runs at 65 C
the rx runs to hot, I can see why BOTH amd and nvidia are now putting in blower fans while the cheap after market gtx are using a cooling system that makes the entire PC hot
its this hot and its in middle of winter, I am seriously considering selling both 1070 and rx 580 and just getting 2 water cooled 1080tis and be done with it,
no more fans, no more fans breaking, no more worrying about the heat in the summer.
at this rate in the summer the rx 580 will die it just runs to hot
IMHO, the open-style fans are fine as long as you have an open frame mining rig and run an external fan perpendicular to it. The 10-14 inch fan adds an additional ~50W to energy cost but they work well to force hot air out thru the spacing between graphics cards where hot air gets trapped. Ive noticed that even tho open-style fans have heatsinks that are designed to force hot air out thru either the back or front end of graphics cards, when you have 5-19 cards stacked in parallel the temperature kinda get a little bit higher going from the first to the last in the fan direction. im shocked there isnt more water cooled options. thinking of making 2 PCs with water cooled 1080tis, so 4 1080tis in their case, sitting in a corner nice and quite. I can put them in different places. its easier for a pc to sit in a corner and nobody notices it, If I go on vacation for 2 months, I feel my water cooled GPU will be ok in the heat. but I think the blower fans are like new tech, 1 fan does a better job in the case. but then I dont know how these blowers will work when its 90 degrees out. the price of a regular 2 or 3 fan 1080 ti is as much as a water cooled one, I never had water cooled anything but if I had the money all my GPUS would be water cooled https://www.youtube.com/watch?v=8s_je7-BIEcim still seeing how I can do this with 2 1080tis water cooled but I dont want anything to break, I dont see many people mining with water cooled so Im a little cautious about spending on water cooled gpus could I get 2 of these and put in case and not worry? https://www.youtube.com/watch?v=4ugGv0kw8pQIn my opinion, the water cooled cards are more expensive and I can't justify the price, when I can buy any other style card cheaper, and keep them cool. Blower, or other. I don't use computer cases though. I use open air frames with six gpu's in each with a $15 usd dollar box fan on the back of each rig to blow the hot air off of the cards. You also have the worry of water leakage or the cooling system failing. I had a friend was all about water cooling his gpu in his gaming pc, until he started having problem after problem with pumps. I'm still testing solutions for removing hot air from my mining room. I currently have a box fan in the window sucking hot air out, but I think I need a more powerful fan if I'm going to use that method when outdoor temps reach 90-100F in the summer. Leaving the door open in my mining room also allows a lot of the hot air to move out of that room into the rest of the house (with mining room windows open, but we're talking 30-40F outdoor temps here right now. We shall see. Other options may be a ceiling exhaust fan to suck hot air out of the room into the attic. Or a wall exhaust fan to suck hot air out of the room and push it into the house. Or even a movable temporary solution of stackable box fans in the door way of the room to suck hot air out of the room into the rest of the house. |
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Lol @ Turbo Tax. You can't sum up tax law in a few short paragraphs. Talk to a CPA. And talk to one who knows something about crypto tax law. |
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Below 10k now :O
Oh yeah!!! I have a buy order in at 8K. Getting closer. |
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In the US the IRS wants you to pay income tax on everything you mine. If you turn around and sell to cover expenses you'll be paying capital gains on top of that. It sucks. If you can afford to pay your expenses out of pocket and not sell any of your mining proceeds that would be better. Sell later and pay the lower long term gains tax.
I'd talk to a CPA if I were you. |
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How is it that everyone is using the term ROI so incorrectly? ROI = (Gain from investment - investment) / investment. The answer to that equation is not months, it's a percent. The time it takes to break even or recoup costs is not ROI.
ROI as "misused" in the cryptocoin mining industry is generally a time estimate to get enough payout in coin value to match the price of the hardware. DO keep in mind that most cryptocoin miners are not financial professionals or experts. It also tends to ignore the residual value of the underlying hardware - which in the case of ASIC miners wasn't a particularly bad choice as those often had very little value left by the time they have earned more than their own price, prior to the current 14/16 nm generation, Out of curiosity, how much is an RX580 expected to fetch on ebay in 2020 ? Would like to be able to get some money back eventually. Hopefully very little, which would be fair. The only reason people are getting away with selling at such high markups right now is the shortage of gpu's from legit retailers. |
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You have sold nothing along the way? Not saying your hodl philosophy is wrong however i can totally understand why someone would sell what they have mined. The story could end at much lower prices too. Again not saying that will happen but it could happen.
Not a penny of it. Selling to cover monthly mining expenses is normal, but if you are converting everything to fiat right away you are robbing yourself of so much money. Thats why Isay if you are selling it all off you are doing it wrong. Always mine for the future. That's the way I look at it. I took some profit when btc was around 15k. Enough to cover electricity costs for a few months. Eventually I'll take some profit to cover the cost of my gpu rigs, because at some point I would like to have that back in my savings account in fiat, but for now I'm holding out to see what happens over the next several months. If we see a huge spike as in double or triple current prices, I'll pull out enough to cover the cost of my mining rigs. People who use credit cards or borrow fiat from sources that they shouldn't to fund a mining operation or to directly invest in a coin are the ones losing sleep over a bear market and the daily value of their crypto portfolio. It would piss me off if it all went to zero tomorrow and I lose, but I won't be in debt, because of it, if that were to happen. You haven't lost anything until you sell at a loss. |
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