Hi there,
I am from germany and here is coming fast the winter. And I dont want to spend this year again 12K of heating with gas. So I am sereously thinking to invest in miners for heating my stock - minimum partial.
But my doubts are if its now the right moment to buy Hardware and how much risk I have that the difficulty goes to much up and/or the BTC to much down? I have clear that nobody can predict it, but it exist experience of the past and how much vaiable it is in the difficult times.
Here the gas costs 0.08 Cents per KwH and the electricity 0.35 cents. I just need some answers from experienced miners. Based on it i can do my own decision how much miners I will buy.
I pretend to buy the newest one that give some profit. So I also wants to know how fast they was losting value that I can include it in my calculation.
Now my stock is in avrg 10 degrees so may this influence the power of the machines also. In the summer its never over 23 degrees there.
thanks for your help
Allumini
that spread of 8 to 35 cents assumed to mean usa cents is big. if it were 12 to 30 I would say go for it. The low end of mining for sha 256 gear was about 6 cents. the high end of mining of sha 256 was about 55 cents. most of the time we are in the 10 to 20 cent range for earnings. The market prices accordingly so getting bargains means a price crash happens followed by a rise. I do not want to discourage you but unless you find very cheap gear do not do it. |
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So +0.9522%, I can't complain.  Hoping this is not deleted as it was about chips as it relates to BTC chips and lack of them which means no gear for sale or sell a few at stupid high prices. To date nothing has been deleted from this thread. My thanks to all who never pushed the boundaries too hard  The goods shortages is not all due to chip shortages. In fact, the various Foundries are almost back up to speed across all nodes. For quite a while now the major blockage has been shipping delays and the lack of containers & ground based transport. ref the Great Pacific Parking Lot stories and this one from a shipping news organizationThat, plus Shortages of domestic coal have driven fuel prices for Chinese power generators higher, causing the unprofitable companies to ration power to industrial users. That has forced some factories in the world's largest economy to suspend production, disrupting global supply chains. https://www.reuters.com/world/china/chinas-power-woes-may-worsen-demand-surges-amid-coal-supply-lag-2021-10-18/Chinese manufacturers have been asked to reduce their power consumption, almost everything has slowed down in China, People are working fewer hours now than they did back then, Coal prices went up from like $55 a year ago to nearly 250$ a few days ago, it now sits at a massive $237, I believe this affects every country in the world since Gas and Oil prices have also been climbing, this is all nothing but good news as far as the difficulty is concerned. Speaking of prices, what is everybody's plan if the power company decides to increase power prices? where I live, that isn't doable by any stretch of the imagination, which is a relief. I wonder how short the coal is china. |
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So I look at the article/ video about BTC etf.
The woman says she thinks it is fatally flawed and that if btc goes up 🆙 your etf loses money if you roll it over to a new etf.
I get that part. but what I don’t get is how does the etf make a profit.
say i pay 60k for a 30 day etf based on 1 coin and in 20 days btc is 70k what is my contract worth?
I am thinking there is a profit level of some kind in the etf if you sell it before it expires.
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240v outlets is a good start but main question that remains is how much power are they good for? Remember, today's miners all pull over 3kw each.
Two outlets each on a 20amp circuit should be okay. Two outlets sharing a 30 amp circuit borderline Two outlets sharing a 20amp circuit is a fail. A 70th s17 is about 2900-3100 watts or 12-13 amps two are 24-26 amps so they wont be able to share a 20amp and are borderline for a 30 amp circuit. they do about 23000 to 25000 btus of heat. |
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Hoping this is not deleted as it was about chips as it relates to BTC chips and lack of them which means no gear for sale or sell a few at stupid high prices. To date nothing has been deleted from this thread. Thanks to all who never pushed the boundaries too hard The good shortages is not all due to chip shortages. In fact, the various Foundries are almost back up to speed across all nodes. For quite a while now the major blockage has been shipping delays and the lack of containers & ground based transport. ref the Great Pacific Parking Lot stories and this one from a shipping news organizationyeah the ships 🚢 off LA are super backed up. So a lot of delays are happening. Oh Jack Ma has resurfaced I wonder if this means the asic builders will be releasing gear ⚙️. Sure has been a wild year. edit all below is newer. well diff was up 🆙 +0.95% to just over 20.08 price went from about 50k to about 62k would be nice to see 1% for diff and 20% for price this jump. |
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I've made up my mind to keep adding GPUs once I have the money, probably add one GPU every two months or so, what majority are scared for is mining at loss but they forget that you aren't really at loss untill you sell your coins, bear market has high advantage than bull market but many won't want to accept this
Slow but steady pace is key. |
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So 11 are 60k+
and 12 are under 50k
with 77 in the 50's
Still on track to push those 40s away before November of this year.
lets just keep pushing 60+ day after day.
Go btc go
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they simply shift from eth to btc to ltc/doge. using the excess gear.
Ok, your theory now is more solid than before after you have explained it a bit further, one missing point which I'd like to know. Are you suggesting: 1- They run the most profitable gear at any given time regardless of everything else. or 2- They try to suppress the difficulty regardless of point no.1? Both. I don't have chips So I can't flood the markets with s19 at 6k Or the L7 at 6k or the E9 at 6k I have 10000 of each they all burn 3.3kwatts they sit in a farm that can do 33 megawatts so I juggle them . Since I can't run all of them. Selling them with no chips to make more means I lose on earnings. Dave F and I have been discussing arbitrage of the 3 algos since Jan or Feb. It is tough since this is BTC only I do not want to get deeply into it. But If I discuss it in alt coins many there don't give a fuck about BTC at all. So I push this to the surface every once in a while. Oh on the subject of chips I ordered this microwave today https://www.lowes.com/pd/ZLINE-KITCHEN-BATH-ZLINE-Over-the-Range-Microwave-Oven-in-Stainless-Steel-with-Modern-Handle/5000207249it will replace this one. https://www.bestbuy.com/site/samsung-1-7-cu-ft-over-the-range-convection-microwave-with-wifi-fingerprint-resistant-black-stainless-steel/6419339.p?skuId=6419339I had a kitchen with all samsung parts. Fridge Stove Microwave Samsung is out of stock lack of chips. Now it is not a miner but it is samsung chip related and it means even samsung itself is short chips. Thus they delay the less profitable item for sale. Samsung does not run a McDonalds and cook with microwaves . Bitmain does not sell the gear they mine with it since they suffer the same chip issue. Their bottom line is $$$ and if they do the idea Dave and I talk about it makes money. Samsung does not mine for profit or in my example cook with their microwaves for profit so they simply slow that sale. Maybe samsung pushs ssd sales more or flat screens. Hoping this is not deleted as it was about chips as it relates to BTC chips and lack of them which means no gear for sale or sell a few at stupid high prices. https://shop.bitmain.com/product/detail?pid=00020211013151246531XlGe1yl406A0 = $10.5k or 1/6 of a btc. seems bad. but it was that in April and if you had 100th mining from April 30 till now you would have been happy to have purchased it. The diff tanks from 25 to 13 that gear mined tons of coin and now coins are back over 62k oh Diff is looking to go to +1% https://www.bitrawr.com/difficulty-estimatorLatest Block: 705483 (5 minutes ago) Current Pace: 100.6389% (1900 / 1887.94 expected, 12.06 ahead) Previous Difficulty: 18997641161758.95 Current Difficulty: 19893045048575.13 Next Difficulty: between 20028322158718 and 20028774589981 Next Difficulty Change: between +0.6800% and +0.6823% Previous Retarget: October 4, 2021 at 7:27 PM (+4.7132%) Next Retarget (earliest): Tomorrow at 5:19 PM (in 0d 19h 12m 38s) Next Retarget (latest): Tomorrow at 5:19 PM (in 0d 19h 13m 3s) Projected Epoch Length: between 13d 21h 52m 0s and 13d 21h 52m 26s mine them and stack them guys and girls |
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Common core math..
I think it’s rediculous how they try to teach solving math like that in the first place, but when I look at common core teachings it is like the processes I use to do math in my head..
132X50?
(132/2)100=66x100=6600 <in my head
Does that make sense?
yep same way for me. I am not as sharp as I used to be but I can do 1x1 to 99 x99 exactly the way you said. when young I could do 1x1 to 999 x 999 with that method about as fast as you could punch the numbers in on a calculator. But life moved on and in my teen to twenties far too much weed and psychedelics shifted me into other pursuits than math. Now at 64 still like it along with pc’s and gear tinkering. If I did not know better I would say BTC was built for me to expand my wealth and my consciousness kind of a perfect thing. Almost dreamlike and too good to be true. damn buddy with a power lift to 62k+ damn |
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Oh gawd... you are amazing.. if you do not say so ur lil selfie.  I know u guys love bitcoin. But it's flawed. U can't love math, it's just math. It's like loving a rock. Or those rock NFT jpgs. You can love math. To say that you can't love math is tantamount to admitting you don't understand math. As a kid they gave us a math text book in first grade. It had the work in it from sept 1962 to June 1963. I loved math so much that I finish all the chapters with all the problems by October 1st. Back in the day there were no calculators so multiplication tables were supposed to be memorized from 1 x 1 up to 12 x 12 a grid that was 12 by 12. once I memorized it I made a multiplication table from 1 x 1 to 20 x 20 and memorized it. So yeah math lovers do exist . Now to defend savetherainforest i suspect BTC will have issues of scaling and shit coins will always be here. But what do I know not much. |
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Loans are for slaves.
Debt is modern form of slavery Forcing someone to work for you isn't allowed, but paying someone to work for money so he doesn't starve is totally accepted. There's a term for it: wage slavery.  With wage slavery all races are slaves. |
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Rising the virtual memory did not change anything.
What did you rise it to? 24 x 5 = 120gb plus a bit more. say 140gb and is your drive an ssd? Basically you need a 256gb ssd or more. there are other things that can be the issue. set the cards to 280 power and core of +20 ram needs to be under 10000. i think that is about 800 to 1000 + I forget as I only have 1 3090 set to windows. you may be throttling due to too much heat and high ram numbers. along with 5 cards running. what is the psu you use? 2000 watts are hard to find if you are using a 1600 watt atx like a corsair or an evga you may be just a bit underpowered. |
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Buddy has done some solid duty the last three or four days. It is much appreciated.
I spent 15k + 7k + 2k = 24k in new gear.
I did cash enough coin to pay for the July purchases made on six months free credit.
I was able to get the gear above with 12 months to pay.
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Bitmains profitability per miner is the same regardless of if they sell 1 or 10,000 miners, provided the cost/machine is the same. Miners have a limited shelf life, so if they are sitting idle, they are losing potential revenue. If someone has more miners than they do electricity, they are going to want to quickly either obtain more electricity capacity, or move the machines to a location with sufficient reliable electricity.
It might not be unreasonable to expect a miner to move equipment to mine a more profitable altcoin with the same algorithm, but it would be very unlikely that a miner acting rationally would turn off a profitable, working miner.
Your assumption would be true if they had a lot of miners and a lot of extra power. My assumption is they are short power and cant produce huge amounts of gear at moment. |
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Full disclosure: Took profits @ $61k. Putting it into a joint account for Rick and myself to buy toys and equipment for the ranch, as things start coming online, soon. Feel bad that all the corn I'm selling is going directly into my accounts (feel bad about needing to give Rick my financial login info to reconcile everything for this project...), and putting this batch into the joint account for ranch needs takes a fucktonne of stress off the both of us. Really don't want to draw down on our existing fiat investments to support the ranch. Will consider drawing down on those as needed, after the ranch is built and we're living out there full-time - 10 years ish.
Next sell target set for $75k, then $100k, then we sit back and re-evaluate our lives.
Gotta buy ourselves one of those jacked up monster pickup trucks that are capable of traversing the entire ranch to start... then a tractor... Oh God... it starts...
Get yourself some nice steaks 🥩 and enjoy yourselves. |
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Nice we now have
10 days of 60+
77 days 50000-59,999
13 days of under 50.
With just a little luck .
The 60+ will soon be bigger than the >50
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At the moment no gear is easy to find from a real builder of gear.
So what is your power cost ?
If you are at ten cents a kwatt you could get some used gear and run with it.
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While I may not have this quite right, I think Phil's point is that Bitmain can and will shift what kind of coins it mines (e.g. Etherium versus Bitcoin) to fit within a fixed power budget. If I am understanding and stating it correctly, they might well shut down profitable BTC miners if there is MORE profit in using the electricity to mine Etherium as an example.
If bitmain has that many gears sitting on the sideline they could just sell it, to be able to have any considerable impact on difficulty, we are talking EHs worth of power, which means thousands of mining gears, the question remains, why wouldn't they just sell those miners instead of having them sit on the shelf for some period of time? after all, these gears are so expensive and they hardly ROI in a year running 24/7, having to shut them down every now and then only extends the ROI period. The second problem is, does Bitmain really have any mining gears online? unless they have mining farms outside of China the once in China probably went offline, Bitmain won't risk mining in the dark, I know they have partnered with Enegix in Kazakhstan in a 100+ MW facility, but being just a partner, I don't think they will operate in this style, I could be wrong tho, nobody really knows. Also, as everyone knows, Bitcoin has been outperforming all other minable coins the past 2 weeks, if anything, miners would want to be mining Bitmain not the other coins since the profitability of the other coins hasn't gone up as Bitcoin did recently. No no no no . selling it makes competition. it hurts their mining bottom line. they simply shift from eth to btc to ltc/doge. using the excess gear. all true due to lack of chips and the inalbilty to build tons and tons and ton and tons of gear. if i have five s19s and 5 L7 plus and 5 eth asics. and noone else has them they have s9 ,l3+,gpu and this is all the gear in the world I am better off rotating the s19 the l7 the eth asic. then selling one or two of them. now if i could build and sell hundreds you point is correct. I not think they have the ability to build tons of them. my hihg end above the range samsung convection/ microwave died. It was a custom kitchen and very few convection microwaves will fit. at the moment samsung is out of stock in all of the usa for this high end product. If i order one I wait til Feb. 7 If samsung cant get chips I am thinking bitmain can not get them. I do think mikeywith you would be fully correct if chips were in stock. |
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I am using a s15 and mining ⛏ xec.
In your case just mine eth and split it into:
cash
btc
xec
I assume you have a gpu or two to do it.
I got in on xec at
0.00002322 usd.
it is now
0.00008123 usd.
I advise anyone to do this when they ask for a spec coin.
Hi philipma1957 is there any pool that pays out in XEC is mining Ethash just like what unmineable website, I've mined 5 million shiba inu when I heard they are planning NFT, we never can tell but my eye is on XEC as well, any suggestions? viabtc.com above is no referral this is my refer link https://www.viabtc.com/signup?refer=257609either way you earn the same. if you use my refer link they cut me in on a fraction of the fees you pay to them. at the moment i point 1 s15 at them and hope for the best. |
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