Now mining has ceased to bring a decent profit due to the fall of the market and the fact that video cards lose the competition to ASIC devices.
I'm just tired of switching from one algorithm to another.If in the near future there will be no prerequisites for the growth of the market-I'll just sell my graphics cards.
There's your problem and you don't even recognize it. You waste your time with ass coins chasing a 2% increase in profit not knowing selling it and buying something else erases all your profits. I have been mining ETH since it's been out. Other that 2-3 times i jumped off to new coins for a week like ZEC / GRIN / BEAM to capitalize on the supply demand I have been mining ETH. It's always been profitable for me short of a couple of months where i powered through in 2018. Before you all tell me that's not possible, i'm not an idiot, in fact i'm pretty competent in what I do. I know down to the penny each week what I do and where I am at. Decent profit pisses me off too. If you are walking down the street and you see a dollar on the ground i'm 100% sure you would pick that up. OMG im not making 8$ per rig anymore this sucks! Suck it up and ride the wave upward or turn all your crap off and sell it. There are your options. |
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i'll go ahead and take them
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yep all Z11 getting turned on. I went from over 5 ZEC a day to 3.9 overnight lol
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The reason ETH hasn't yet switched to Proof of Stake despite having planned to do so for several years is because it doesn't work.
This is where Hybrid PoW+PoS comes in, and might just be the most likely answer. They have been thinking about the switch to ProgPow. Let's see how that goes.
Do you think that ETH will change the algorithm for progow? And maybe before he goes to the pos? Hope it would but i don't have confidence that all these ETH guys did not get in bed with bitmain. |
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Other than opening week on raven and beam then grin I've mined ETH. It's always been decent and i believe in the long term of it. I had to first week mine those said coins to sell asap and make 10x what I would of on ETH tho  |
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Proof os Stake is a double-edged sword, especially speaking about decentralization. How so? Can you expound more on this? The richest 1% of the world owns over 50% of the world's wealth. There's no reason to believe the distribution would be any different for cryptocurrencies, particularly since owning over 50% of a PoS cryptocurrency would mean non-stop, no-cost 51% attacks. Allowing the control of a network to become so centralized defeats the entire purpose of blockchain tech and would likely cause it to implode. Here's an article backing my 1% claim, it's a few years old but if you google the topic you'll find tons of corroboration. https://www.cnbc.com/2017/11/14/richest-1-percent-now-own-half-the-worlds-wealth.htmlThe richest 1% of the world population would be about 80 MILLION people. |
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have fun making .07 eth a month destroying your 3K mac.
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AS OF TODAY 8:30 AM 4/13/19: If you mine and can hold even at 12 cents its better than buying IMO You have the equipment already makes no sense to turn it off since you own it already.
230 Hash at 1000 Watts (if you have proper mods)
USD$
Electric Cost Profit Cost Monthly
.12 Cents .08 2.88 1.60
.11 Cents .32 2.64 9.60
.10 Cents .56 2.40 16.80
.09 Cents .80 2.16 24.00
.08 Cents 1.04 1.92 31.20
.07 Cents 1.28 1.68 38.40
.06 Cents 1.52 1.44 45.60
.05 Cents 1.76 1.20 52.80
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here let me help you. Don't mine on a mac. You gonna mess that card up then you have a crappy mac.
buy a crappy mb and ps and 1 card if you are really hard up to mine.
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like 2-3 years ago they said masternodes i thought and 1000 Eth per node as ETH was about 10 bucks. I would assume maybe 100 ETH now.
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What's the hashbrown per watt ratio on that beast, Dagarair?
OMG I get FREE Electricity so this is pure profit! God I hate those dudes that say I got FREE power. haha There is always some poor bastard paying for it. So yeah that was sarcasm! |
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My toaster is mining BTC at 50TH for 1200 watts and i get all the toast i want for that.  |
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it's pretty funny how a lot of you all cry even when making 5-8% profit. Let me let you in on a little secret, IT'S STILL PROFIT. Those of you that are not making profit, I get your grief. Anything in the green is STILL PROFIT, be it 5 cents or 100$.
ETH @ 230 hash and 1050 watts (8 x 470 rigs) @
power at 10 cents is 11% profit
power at 9 cents is 23% profit
power at 8 cents is 39% profit
power at 7 cents is 59% profit
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Any tax tips @dagarair for those who have not yet had to declare or will do soon due to changes to the system?
Look i'm not a tax dude and they very state to state but I have a bad ass CPA. That being said easy stuff is you can instant depreciate your rig/asic this year, expense electric bill etc. REPORT your income and if its a loss and you sold it then it's a negative cap gains hit that go right in your taxes as a loss. Stuff like that. |
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Funny how other people always tell me that I am not making money. I'm a pretty good size PRIVATE miner and pull about a 1MW power personally in my building. It's my full time job, if you are not a tard you recover all your expenses in tax credits, and various other LEGAL means as well as about a 15-25% profit. I do ok in the bear ass market, not great but pretty damn ok. I report every penny and pay my taxes. It's all about not being greedy, not extending yourself beyond your means and costs of power. I buy used equipment and no joke over 2018 i doubled my equipment because the cost was very low to do so. I'm 75/80% GPU of that 1/2 AMD/NVIDIA and 20/25 ASICs. ALL are paid for and all make me $ every month. My building, my upgrades to power the whole smash was paid for by crypto profits. On top of that guess what, asset depreciation on taxes = continual write off. Before you all speak do your homework. Just because you can't make $ don't mean others can't. Also check out this quote because damn I think I found a new hero. He is on vosks discord. Damn I like his positivity. CryptoToreToday at 7:11 AM Thanks Doing fine! Chemo aint nothing compared to a bear market |
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Bitmain is already mining with Asics ETH. That's a fact.
Why??? Because it's impossible to move 8.000gh/s within 2 hours.
if we consider that normal people have 1 6gpu rig about 180mh/s, That's like saying 44.444 6-gpu's mining rigs were switched to ETH in two hours. That's impossible. Unless you are using ASICS.
Do you want another argument???
ETH will go PoS in just about 3 months. Bitmain would never sell not even one ETH asic miner once Vitalik published the Casper patch for PoS , so they are begining to sell their equipment.
Bitmain is to be blamed for the increase in difficulty in ETH. And also, by helping to get 100 million coins quicker, advancing the time to PoS.
Fuck those motherfuckers to hell!!!!!
ROFL I have 105GH of GPUs on ETH I can switch anywhere I want in less than 10 Min. Yes I move them to GRIN, Raven etc from time to time. |
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My boy lives! I knew it but most thought you ran off with the maid or something. |
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GPU only is for pussy´s XD sorry little joke  I ran up to 5 different miners on 1 rig and on some other rigs 3 different or more. We use every computerpart that can mine (GPU, CPU, HDD) But i hate ASICS I basically mine 2 GTX 1060TI 6GB in nicehash part-time only. If I close the internet cafe, I run it on my server. It is okay for me because I don't pay for electricity. Someone pays for that electricity, nothing is free. I said it's on an internet cafe so, The electric consumed in my GPU is not that big, It's not even affecting the current electric bill on the internet cafe. Yeah it's not worth it to lose your job over since I'm guessing you work there. Don't mine on the bosses dime. But its free man, don't change electric cost! ...... ROFL Get your resume updated. |
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