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1  Alternate cryptocurrencies / Mining (Altcoins) / Re: Eth 2.0 can be delayed to 2024... on: July 08, 2022, 08:28:07 AM
I been mining ETH for some time and even back in the early days people said it didn't pay to invest in new GPUs to mine ETH as it will be moving to POS within the next 6 months.

Well let me say it has been *the next 6 months* for quite a number of years now. I don't doubt it will eventually switch over, but it doesn't pay to get too worked up about it until it actually happens.
2  Alternate cryptocurrencies / Altcoin Discussion / Re: Will DOGE go back to sub $0.01 prices ever again? on: July 08, 2022, 08:06:37 AM
Yeah, it can and probably will. Won't happen right away, maybe next year which I think will be the real bear market.

No point worrying too much about it now, if it drops under $0.005 (half a cent) I might consider loading up some. Just remember there is a lot of Doge out there and a lot more being mined everyday.
3  Alternate cryptocurrencies / Altcoin Discussion / Re: Next ALT season year ? on: July 08, 2022, 07:59:36 AM
My best guess is it will start somewhere in 2024 and peak in 2025.

Of course since we are already halfway through 2022 and I don't think we have seen the true bottom yet, the bear run may last a bit longer than previous cycles and this could push the next bull cycle further out to maybe 2025/2026.
4  Alternate cryptocurrencies / Altcoin Discussion / Re: Do Anyone Think Luna Will Recover? on: July 08, 2022, 07:54:57 AM
It will be hard to trust Luna again or anything that comes from the Terra/Luna team.

Most people thinking (hoping) that there will be a successful recovery, or reboot, are simply hoping they can recover some of their losses, but I don't see it happening.
5  Bitcoin / Bitcoin Discussion / Re: Strong Hands Are Buying on: July 08, 2022, 07:46:10 AM
My hands will be stronger (for buying more) once Bitcoin drops under $20k again, preferably closer to $10k. I don't think we will be seeing any significant rebound until 2025.
6  Alternate cryptocurrencies / Mining (Altcoins) / Re: Is it worth it? on: February 26, 2020, 10:40:46 PM

The only people mining right now are people who already have bought and paid for hardware from years past or those with very cheap or free electricity.

I have a few cards mining right ETH and ETC right now, and they have been paid off for some years during the last cycle. But even without worrying about ROI it is still borderline as to the profitability with mining, i.e. is it cheaper (and easier) just to shut them off and buy ETH outright when its cheap.
7  Alternate cryptocurrencies / Mining (Altcoins) / Re: Buy GPU now or wait till new ones are out?? on: February 26, 2020, 10:28:38 PM
So I have drilled down to some cards and I found the following options from a supplier overseas-
a)1060 6GB~ $140 - $160 (new 3 yr warranty)
b)1080ti 11GB~ $500 - 450 (new 1yr warranty)

So basically I can spend about 3k on cards resulting in - either 6x1080ti or 20x1060

i used whattomine to check which coin is best for the above cards, and seems like ROI on the 1080ti are bad, however the 1060s will take 1.5 years

is this normal? or am I just too late, which is why its bad for me?

What do you guys do. same as above?? use a profit calculator and mine the best coin? are your ROI on hardware around similar time as mine?

Am I missing something regarding mining.

Here is some food for thought:

6x1080ti = 0.0214 ETH/day = 7.811 ETH/year at today's difficulty (which of course will change as time goes on, so you will be making even less)

20x1060 = 0.0337 ETH/day = 12.3 ETH/year

$3,000 / $220 (ETH price today) = 13.63 ETH right now. If it drops to $200 (likely) you would get 15 ETH for that same $3k investment.

Notice also I didn't include electricity prices in any of this, so by buying ETH outright you are even further ahead.

Also, by buying ~15 ETH right now, say the price jumps up to $800+ in 6 months, you can sell a quarter of your holdings and be at breakeven with ~11 ETH left over, while with mining you would still be chugging along with maybe 6 total ETH mined at that point.
8  Alternate cryptocurrencies / Mining (Altcoins) / Re: GPU mining on: June 07, 2019, 07:18:56 PM
Oh boy, here we go again with these types of posts.

Someone else already did it earlier, but let me quote the relevant portions from your post that even make mining remotely a good idea:

In case you decide to hold 1 year, and current price doubles, here is rough estimation:

I considered these prices in 1 year:

Price ETH : 540$

Price RVN: 0.12

So telling people they should get into mining because the price might double within a year is pretty silly when they can simply buy some coins outright and double there money in that same time by simply doing nothing but holding. No need for all the GPUs, high electricity bills, heat, and noise that go along with mining.
9  Alternate cryptocurrencies / Mining (Altcoins) / Re: Best way to test out GPUs prior to sale? on: February 03, 2019, 04:10:53 PM
Most of the gamers only test the GPU through Furmark while buying, and if your cards are passing the stress test of Furmark, I think you're good to go. However, if you can somehow test the "GTA V (five)" (yes, the newer version of same old Grand Theft Auto) with highest possible resolution (of the game) in your system, it'll be the real test for your GPUs (especially of the cards till RX 200 series) in every possible way (stress, temperature, memory, etc). Play it for an hour, run to the Vespucci Beach (in the game of course), and see if everything's fine there. Grin

This is the process I usually follow as well before selling a used GPU. There are several "gaming" benchmarks out here, I usually use 3DMark, but any that stress the GPU are good. I usually flash BIOS back to original and fire up a benchmark and if it passes the highest test relevant of the GPUs capability I considered it stable. Some benchmarks allow multiple passes, I sometimes will run through 3 loops if I have any doubts, but even one should expose any flaws.

Also make sure you give the cards a once over with a vacuum or air duster to remove excess dirt/dust and check the function of fans as other have suggested.

I also usually state right in the listing that I verified functionality with 3 runs of Firestrike (or whatever benchmark you use) to help minimize the it didn't work type of buyer. I have had a few have buyers remorse cases and after explaining the process I go through to check each GPU for full functionality before shipping they usually reconsider their request.
10  Alternate cryptocurrencies / Mining (Altcoins) / Re: servers on: January 27, 2019, 09:35:03 AM
Right now mining is extremely unprofitable even with home owned CPUs and GPUs.
I guess most of the CPUs and GPUs miners are waiting for a spike to sell their coin and until then they are just doing charity for the industry? I always had this idea that why not the miners to decide the market price of a coin since they are the people who are doing the production.

Any thought?

There a very few 'home" type miners left in the market now days. A good portion of CPU miners are botnets, so it cost the "owners" of these bots nothing in terms of power and they can pretty much dump coins on a daily basis.

Also, a good majority of GPU miners now mainly consist of giant commercial type operations located in places where they can get very low cost power (2-3 cent/kwh). There are also probably a small percentage who get free power; either its included in their rent, or they still live at home or are in college with their parents footing the bill who are still mining.

So I think the remaining very few percent that actually pay for their own power and pay much above 5 cents a kwh for electricity may be doing some speculative mining and mining at a loss today simply in the hopes the prices recover soon. I doubt there are many people strictly doing it for charity of the network.
11  Alternate cryptocurrencies / Mining (Altcoins) / Re: Alternative Electricity for Mining on: January 09, 2019, 08:13:29 AM
For those of you just joining, this moron thinks you can do this:

Since, according to the author, the battery isn't actually being charged or drained, what he's really saying is hook an inverter up to a car battery charger and hook the car battery charger back up to the inverter, and not only do they power eachother in perpetuity but they also put out extra power to power a miner! Wow!


Next thing he's going to sell us, is an electric fan blowing at a wind generator that powers the electric fan!

Nah, this isn't how it works! You will get too much power conversion loss using a fan to blow air to power the wind turbine. What you need to do instead is use the free power to feed a bunch of quartz spotlights and point them directly at solar panels which in-turn is used to feed the battery!!! Whoa-la, free power baby!!!
12  Alternate cryptocurrencies / Mining (Altcoins) / Re: Bitmain rumor says 740 Mil - Q3 Loss on: December 11, 2018, 05:05:54 PM
Jihan had plenty of BTC and BTC forks in his wallets, but I'm sure they're running low on fiat to pay for their massive operations and upcoming legal issues. I expect they will liquidate some of their holdings to have some working capital.

And in true Bitmain fashion, I fully expect them to place some shorts, dump on the market at some off time and cause a panic sell off, and rebuy on the sell-off after having closed out their shorts.

Remember kids, even when Bitmain is losing they're winning. For those of you who don't understand - they're going to manipulate the prices some more (and not out of greed like they usually do but out of necessity this time lol).

There would be no tears shed on my end (maybe tears of joy) if the likes of Bitmain were seriously hurt during this downtrend, but unfortunately I think you are correct. They are so large that even during bad times they can manipulate the market enough to benefit themselves.

Also, as another poster pointed out, they are probably only publicizing this for tax reasons and not really financially hurting.
13  Alternate cryptocurrencies / Mining (Altcoins) / Re: Looking for mining advice. Enjoy doing it as a hobby. on: December 11, 2018, 04:56:13 PM
If you are truly doing it as a hobby then continue doing what you have been up until now. Hop around to a bunch of different coins and accumulate a small stack of each. When the market returns in 1-2 years hopefully some of the coins you mined become winners.

Just be sure to mine coins with either low difficulties or large block rewards so you can accumulate a reasonable amount of each in a short amount of time. Maybe spend 1-2 weeks on each coin then move on.

I would not worry about the current profitability as whatever you pick it is going to be crap in the current market. Instead just focus on having fun and trying to accumulate a bunch of different coins that look like they may have future potential.
14  Alternate cryptocurrencies / Mining (Altcoins) / Re: If BTC doesn't close this week above $3000 gpu mining is done on: December 07, 2018, 04:14:26 AM
Now, $3300 and Alt crash too
GPU Dead?
ASIC Dead?
Miner Dead?
Crypto Dead?

That is what manipulators want you trolls to think, then after the "no hope" concept is spread then they start buying everything to fill their wallets for the next run to 100k, it has been like this for the past 9 years.

Agreed, I'll be looking to buy here soon too, but just a question of when.
15  Bitcoin / Bitcoin Discussion / Re: I am a loser. My only question now is, how do I tell my wife on: December 07, 2018, 02:57:17 AM
I mortgaged my house to buy $300,000 of ETH at 800.   I dod not tell her.   This house was paid off in full.  Now I cant make the mortgage payments with my job.  I cant even sell the ETH easily because I live in NH.   Should i keep holding?   Tired of making excuses about wherr all the money is going.   I guess I'm what you call a loser.   Thanks everyone.
however, you have already made the decision to mortgage the house to buy ETH. I want to invite you to solve the problem in a way, you must immediately work hard and sell half the ETH that you have with the aim of paying instalments for the next few months. and half of it you can hold and hope that ETH can rise in the future.

Stupid advice, he bought $300,000 worth of ETH when it was at $800. Now ETH is $80 so if he sold it all he would only get $30,000, if he sold half he would get $15,000.

OP, best thing you can do is tell your wife. Also at this point there is probably not much point in selling as we can't go much lower, at least relative from your $800 to $80 loss you already suffered.

I would get a second job or work extra hours or something to make your house payments. Maybe talk with the bank for an Interest only loan for maybe a year or so to see how the market pans out.

I am sure given enough time ETH will rebound much like BTC did back from its 2013 high then crash in 2014-2015. Took a few years though, so you will need to make plans to ride it out possibly until 2020.
16  Alternate cryptocurrencies / Mining (Altcoins) / Re: Why its still worth mining ETH (or other coins) for me - Updated 2 months later on: December 07, 2018, 02:37:59 AM

Finally for the $3 or so you might really make per month, you are not taking into account the depreciation of your rigs. You proudly claim my "rigs are paid off" then go on to tell us how clever you are with making a few bucks a month with that equipment. What you fail to account for is that your rigs have value on the resale market and this value goes down each day.

I don't agree with this at the current moment. Basically we pretty much had a crypto crash and many are dumping their GPUs all over eBay and on Craigslist. The prices for mining equipment at the moment is very low. He is basically better off selling the equipment in 6-12 months or so when the supply has been absorbed or "maybe" mining is a little more profitable again.

An RX 470 4GB is going for maybe $70 today, in 6 months it'll maybe go for $100 and maybe in 1 year start depreciating again down to $70. In other words you are better off not selling anything and also not mining either.

I add my two cents, I don't think people will want those old of a GPU in 6-12 months time, at least not for that price. By that time the newer cards will probably be cheaper as well and there might even be a new generation out. From my perspective if I am a second hand gamer I don't buy used just to save a few dollars off retail, I want at least 50% savings.

!Remindme 1 Year
17  Alternate cryptocurrencies / Mining (Altcoins) / Re: If BTC doesn't close this week above $3000 gpu mining is done on: December 07, 2018, 02:32:23 AM
Mining in 2018 as I predicted is dead, crypto far from it, now is time to sit tight and wait when manipulators start buying back and pump btc to 100k cause it will happen in 2021.

you also predicted eth to 0.5BTC LOL. never happened.

I suppose if someone makes enough predictions, a few of them are bound to come true. Smiley
18  Alternate cryptocurrencies / Mining (Altcoins) / Re: The fate of the Miners on: November 25, 2018, 07:52:25 AM
there is greed building inside me little by little...i don't know why...  Cheesy

It probably has something to do with the fact you subscribe to the Warren Buffet “Be fearful when others are greedy and greedy when others are fearful” philosophy.

Also similar to Baron Rothschild's "the time to buy is when there's blood in the streets" mentality. Both men are famous for making their fortunes in the stock market, so probably good advice to follow.

Myself, I think the fear and blood levels are still a bit lower, but even if you are beginning to accumulate some coins now I don't think you will need to wait too long for at a minimum a relief rally.

Not even in 2015 when manipulators showed idiots bitcoin was done for, the fall was not as bad than it is right now, $1200 ath and crashed to $200, that is 6 times, right now from ath of $21k, price is $3600 x 6 = 21k, using the history, btc can't crash any further. This is the bottom cause there is no news telling bitcoin is dead like it was in 2015 or any mt.gox spreading fear or anything like it was in 2015. So anything happening right now means solely manipulative and the same people doing this will be the ones buying bitcoin till it hits 100k and then they will crash it to 20k in few years and they will do the same crap over and over.

There is more room for down yet, don't count on history being an exact match for picking your bottom.
19  Alternate cryptocurrencies / Mining (Altcoins) / Re: Q: Possible to find IP Address of a stolen S9 L3 ASIC? on: November 08, 2018, 05:55:17 AM
Some months ago all my miners were stolen and today i got a message from viabtc that my ltc hashrate had a rise of 100%.
So i checked the workers and found one with a new name.
Only for 30 minutes,then the thief realized what he was doing and was off... but is there a way somehow to get this IP?

As others have said, you cannot directly get this information, but if you document it all, get screenshots, etc., and file a report with your local police, law enforcement can then contact the pool and get the IP used to connect to the pool at the time. Then they can also track down the ISP and who was using that IP at the time of connection.

I assume you reported the theft of the miners when it happened, so the police would welcome this additional information to help them track down the culprit.
20  Alternate cryptocurrencies / Mining (Altcoins) / Re: Newbie question - what are good coins to mine for now? on: November 07, 2018, 05:21:20 AM
I would advise mining a promising coin that you can mine a lot of rather than going with one of the profitable coins shown by the calculator sites. Even the most profitable coins of today are a joke if you are looking to pay off any equipment wit today's profit levels, and earning maybe .01 ETH a week with a single rig would not allow you to accumulate enough coins even if the prices do return.

Instead research some of the up and coming coins, or at least look for older ones that are undervalued and not being heavily mined by others, and just hope you pick a winner that will perform well in a few years. One strategy is too compile a list of several such candidate coins and maybe point your miner at each of them for a 30 day period and accumulate a small stack of several different coins to help maximize your chances that one will succeed down the road.
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