You need to understand that the lower that Bitcoin goes the lower the chances of it breaking ATH in the near future. If $30K holds there is a good chance we might get to $64K ATH before the end of the year.

But if it has a nasty crash to like $12K then sure it’s a great buying opportunity however you will need to hold that position open for a few years before we even get close to $50k or so.

So I am not overly bearish and don’t expect something like $12k however we had a bearish weekly close and we might get another run at the $28K support.

The reason why the premium is so large is because you cant redeem the GBTC for BTC....yet

If they announce a way (no idea how its possible) to convert your GBTC for BTC directly then the premium will disappear. However now its a one way street. BTC goes into GBTC but not the other way around. So I dont think too many people will take advantage of this arbitrage here because it seems risky. Especially with that large fee they are charging.

From what I read, they might get some ETF approved in the near future (somehow) and they will allow the GBTC to be converted to the ETF which would be very close to spot. However no idea when that will be.

So right now at the moment. Nobody wants to start this arbitrage which can last years...

The console has been out since 2014 and if it was possible we would of heard reports of them mining LTC/Doge back 2014, then when ETH got popular around 2017 till now. However there are no methods or reports that it has been possible yet.

Most likely reason is that the security is very tough to bypass to prevent piracy games, and makes its an uphill battle for any developers. They will run into issues and it won't be the most efficient anyways so what is the point. Plus SONY would also start to crackdown because they would have to deal with any warranty issues that arise from someone mining 24/7 and causing the console to overheat.

Yes there are reports that there are lots of outlets in China that are selling used GPUs. I think the reason why they are selling GPUs instead of shipping them elsewhere is because they are worth more than ASICs and they are better off just selling them, than having to deal with shipping them to another country and mining there.

There is still a shortage of GPUs and gamers are hungry for GPUs and they still fetch top dollar these days. Hence they figured we might as well try to sell them instead of relocating to another country and having to set up another warehouse, etc. Plus the ETH rewards aren't what they used to be and there are already high tech ETH ASICs which are going to get mass produced which will cause difficulty to go even higher.

Very rarely is it the fuse which causes a GPU not the function. An easy way to check if the fuse is blown is to just use a multimeter and check for continuity. If there is an open circuit then obviously its blown and you need to replace it. However if a fuse was blown, chances are it'll get blown again, so find out why. Maybe faulty wiring somewhere or bad riser which is shorted.


You blew something on the GPU. Take out the heatsink and inspect it. It should be obvious what was blown. If its one capacitor only then there is a good chance you can fix it. However most likely you blew a few components AND blew a hole in the PCB board rending it useless.

They don't need to keep the market up just to sell the miners. What they typically can do is just do pre-orders and ship them in a few months. So I don't think they are keeping the market propped up just to make some ASICs sells. People will buy them right now as a pre-order.

And it won't be the first time in history when someone buys an ASIC and pays in BTC and then by the time it gets delivered a few months in the future, they don't even bother opening the package because it would cost more to run than it generates.

I remember when miners would receive their late shipments of ASICs, and they didnt bother even opening them up. Just put them up straight on eBay as a unopened package.

I think you are correct in this regard. Because for years I have been bugging Claymore to sign his executables because I never liked those free hosts where he kept posting his software. Most crypto products are almost always signed in some way to prevent virus and malware from spreading and usually the first thing you do before you install a new piece of crypto software is verify the authenticy first.

Claymore never posted any signed software or even a simple SHA256 hash. I would have to hash the executable and ask him, "does this verify" and only then he would say it does. And I always found it very strange.

What is strange is that he could of just posted some SHA256 sums and it would of been sufficent. He didn't need to sign an actual certificate.

Yeah I saw that video of the Bulldozer going around and squishing a bunch of ASICs. I think the used the bulldozer and filmed it more for a publicity stunt to get people to listen I guess. Because its seems like overkill just to destroy some ASICs. And its also going to be a pain later to clean all that stuff up. An easier way would be to just dip the ASICs to some salt water and that'll be pretty much rendered useless. Won't be worth the effort to replace the corroded parts.

Strange why its in Latin America and I wonder if all of this boils down to that initial Musk tweet about BTC mining being bad for the environment. Because ever since then we see nothing but mining crackdowns such as this. I wonder if he never mentioned anything about pollution if any of this would be happening.

I wonder how many people got scammed who spelled silicon incorrectly. I think the company should of bought the domains with wrong spelling years ago to prevent this from happening. Because if you are not careful the last 3 seem very legit for the untrained eye.

Back to OP, I think your power costs are way too high. If ETH keeps dipping and difficulty keeps going up your ROI won't be 60 days. Only way I see this paying off is if you get the ASIC early and ETH goes to like $5000 in the near future while the difficulty doesn't climb exponentially. I would just invest directly in some coins.

Its not as easy to kill as GPU as you think. Maybe out of 100 GPUs, I had 10 or so that failed. And 5 of those were user error and not the fault of the card. I basically was doing a thermal paste job and the heatsink was stuck and I guess I pulled too hard and broke the solder joints. The other 5 had some form of MOSFET or capacitor melting. However this is extremely rare and was years of mining. Most were older GPUs like R9 280X which ran at much higher temps.

What is going to happen most likely is your fans will start to die soon. And you will need to either replace with a new one or lubricate the bearing yourself. Then the GPU can keep on running again.

That video on Youtube was mostly for views. People create these projects just to get views and it doesn't mean the product they are repairing is unreliable. He just bought a bunch of bad GPUs on purpose.

Well if you were watching SNL when Elon was suppose to pump Dogecoin to the moon and you ended up investing your life savings at $0.70 you are right now sitting at a 75% loss. And judging by the amount of people who were posting their Robinhood screen shots on TikTok and social media of how they bought 6 figures worth $0.70 and they were going to take profit at $10, it goes to show you how people make irresponsible financial decisions.

One thing that people forgot was that most likely most old adopters already sold Doge when it broke 200-500 Sats or so. However its still mineable and at $1/doge it means that over $500,000,000 worth of Doge was released every month by miners. Most miners dumped those Dogecoins. So this is proof that its not sustainable for Doge to go to like $10 a coin and stay there.

The reason why it went up so much in the last week was because it was heavily shorted. If you looked at Binance fees, it had negative funding in a strong bull rally, which is pretty rare. Usually in a bull market we get positive funding and in a bear market we get negative funding. But this was the opposite.

So what happened was people got very bearish and shorted it to the max, and as it kept rising and rising they all got short squeezed. And hence why we had these crazy double digits days for the last few weeks.

This is pretty much what happened with Doge earlier in the year. Everything was bearish and shorted it as much as they could and ended up having a huge short squeeze.

ETH profitability is VERY hard to predict because unlike Bitcoin where all you care about is the difficulty AND price. Ethereum has another variable and that is "transaction fees".

For the past few weeks the network has been really dead, you could actually get a transaction confirmed using 5 Gwei fees. However in the past couple of days it seems there is some slight interest again in NFTs and DeFI and the network is busy again and as I speak the fees are in the 50 Gwei range.

This is important because a large portion of your miner revenue are these fees. And these fees are hard to predict when they are going to be high or not. Price and difficulty is easier to predict.

Price is probably going to stay flat or go down. Difficulty will for sure eventually go up. But transction fees? How can you predict those. Very difficult.

If I were you I would currently mine as many coins as I can, and convert all this to BTC. Then if we indeed did top at $64K and the next year or 2 will be a bear market then hold all your BTC and buy a bunch of alts when they are >95% from ATH in a year or so.

Some will basically go down another 95% and will be worthless but you will be able to get a handful of alts which can produce amazing gains into the next halving. Sure they might not all recover the 95% lost value but even if you buy it at the low and it ends up going another 50-100% from there, you will made good profits. Then sell those alts back into BTC and either hodl that bitcoin or just tether up or withdraw into your bank account.

Basically super low risk for you.... and sky is the limit in the amount of profit you can make. Well unless all your GPUs get damaged somehow, but that is rare.

I am not too technical with the details, but from what I understand it works like this. Pools implemented a type of safety to prevent this man in the middle attack from happening. So when a miner is sent a hash to "hash" and generate a nonce which is less than the difficulty, one of the parameters includes the pools info.

So miners end up hashing this code and if they find a block, the hash originally contains the pool info in the paramter. You cannot change this parameter after you find the nonce which solves the block. If you change the pool info, your entire nonce won't work since the hash will be different.

I don't know if you already know this and are trying to scam people or if you are innocent and you just don't know that its impossible. Either way, what you are proposing here is just not possible. It won't work. If you don't believe me choose some low hashrate ETH clone type coin OR fork your own and see if you can actually succeed in doing this.

Mine on your local pool and if you find a block, try and send that block to the network with your solo client, and see what happens. Most likely it will get rejected by the network or if it gets accepted the pool will get the block credit and not the one which sent it.

I had USB sticks go out so many times that I basically stopped using them. Just used some old 120Gb HDD (not SSD). It became vert annoying having to duplicate the stick and then have to manually configure everything. When i switched to old fashion disk drives I’ve never had this issue. Sure it uses maybe an extra 10 watts but worth it not to deal with failures in the future.

I think the reason why mine failed was maybe due to the heat or maybe to the poor cheap USB brand. Another reason I heard could be the write cycles however I don’t think a mining rig did much writing, mostly stood on idle. So no idea why they kept failing. Most of the time you could just reformat and reinstall and they would work again for a few more weeks/months.

I heard about this a few days ago and somebody pointed out that the article is false and they weren’t mining. Instead they were doing some farming to get some credits and they were selling those for profit. This is no different than those large iPhone/Android farms you see where you got some poor soul which needs to watch ads all day 24 hours.

Mining might be possible but the efficiency would be horrible because you got an entire console just to power one GPU. And most likely the speeds would be maybe 20mhs perhaps. And these days that is not as profitable as it was a few months back.

Either way, very clean and professional operation they had going.

An FX processor is a processor designed for games and it will have no problems running as a rig. I've ran rigs before with Semprom, yes, Semprom processors before. For those that don't know they are like $10 processors you get from eBay and are single core. And they worked.

Installing windows took forever and it took a long time to boot from cold but when it started mining it was perfectly fine. Barely any CPU usage while mining. Only issue with your FX will be it uses more power than most newer CPUs and it'll make your rigs a little inefficent.

This is a scam.

People tried doing this back in 2011 or so to cheat pools and this is why most pools send a special hash which if a block is actually found will credit the pool AND NOT the individual miner.

You get a hash sent from the pool where you generate your nonces and if you find one with a difficulty high enough, which results in a block, you CANNOT send that hash yourself to the network because it contains the info of the pool which will get credit for finding the block.

This is simply not possible and it seems people are already about to get scammed.

EDIT, what a poster above said is true. This is called a Man in the middle attack. Before anyone get scammed just do some googling first and you will see what he is describing is just not possible.

ETH on the daily chart looks horrible. Basically we have support at $1700 which held however last time we bounced from there we had a week bounce and only reached $2400 instead of retesting the prior pivot of $3000.

The way its trading currently looks like it will go and test $1700 again and most likely it'll hold, at least if there is low volume however I am pretty sure it'll end up breaking down. And also looking at the ETHBTC chart it confirms this. Basically 0.055 was support which held however each time it failed to make a higher high. Most likely 0.055 will break and the dominance will be on bitcoins side and most alts will also start to bleed.

With bitcoin its hard to say. Could go either way. I think it might hold the $30K and go to like $50K before going back to $30K, breaking it and heading to like $20k-$25k or so. Either way. Won't happen until maybe Sept. Right now there is no volume.