Third alt coin thread last two were too big. Builds links thoughts etc

[azgal0r]

I am posting this for sharing because I think it will impact all of us since Bitcoin is in the centrestage of all of our alts mining activities now. I am posting my comments only here in Phil's thread because self-moderates the thread....

Just came back from a Bitcoin local chapter talk with guest speaker Andreas Antonopoulos, and lo and behold Vitalik Buterin in the audience. I wanted to ask about the Segwit vs BU issue in Q&A, and well I didnt have to -- Andreas jump straight into it.

Very interesting talk about cultural gap between software mindset vs hardware mindset -- hence this battle between Segwit and BU, how Bitcoin is going to survive a hard fork and the emergence of a new platform that comverge software and hardware and maintains the glory of decentralization, ie. Trustware.

The video of the talk should be up in Andreas's Youtube channel in a few hours.

My team had a meeting after the talk and we decided on some contingencies, pending Segwit vs BU bloodbath around "a few weeks before October". We will be investing more on GPU mining and Ethereum. Btw, will move the 2PH BTC farm into rental market before the war starts. When things gets risky and volatile, it's better to rent, sell the picks and shovels to goldminers than to mine the gold yourself - think Levis Strauss.

OK - thats enough yadda2 for the day. Watch the video and make your own decisions.

There's so much volatility these days I convert my mining gains straight to USDT.  We are already making a ton of money the only risk remaining is that the market suddenly crashes.

[philipma1957]

I am posting this for sharing because I think it will impact all of us since Bitcoin is in the centrestage of all of our alts mining activities now. I am posting my comments only here in Phil's thread because self-moderates the thread....

Just came back from a Bitcoin local chapter talk with guest speaker Andreas Antonopoulos, and lo and behold Vitalik Buterin in the audience. I wanted to ask about the Segwit vs BU issue in Q&A, and well I didnt have to -- Andreas jump straight into it.

Very interesting talk about cultural gap between software mindset vs hardware mindset -- hence this battle between Segwit and BU, how Bitcoin is going to survive a hard fork and the emergence of a new platform that comverge software and hardware and maintains the glory of decentralization, ie. Trustware.

The video of the talk should be up in Andreas's Youtube channel in a few hours.

My team had a meeting after the talk and we decided on some contingencies, pending Segwit vs BU bloodbath around "a few weeks before October". We will be investing more on GPU mining and Ethereum. Btw, will move the 2PH BTC farm into rental market before the war starts. When things gets risky and volatile, it's better to rent, sell the picks and shovels to goldminers than to mine the gold yourself - think Levis Strauss.

OK - thats enough yadda2 for the day. Watch the video and make your own decisions.

There's so much volatility these days I convert my mining gains straight to USDT.  We are already making a ton of money the only risk remaining is that the market suddenly crashes.

yes send some to cash at least 20-25%

[vg54dett]

Thanks Citronick for the feedback !

My team had a meeting after the talk and we decided on some contingencies, pending Segwit vs BU bloodbath around "a few weeks before October". We will be investing more on GPU mining and Ethereum.

More GPUs ? what will you choose to expand now ?

Btw, will move the 2PH BTC farm into rental market before the war starts. When things gets risky and volatile, it's better to rent, sell the picks and shovels to goldminers than to mine the gold yourself

Nicehash , or something else ?

During the talk, Andreas spoke about the possible 51% attack -- reading between the lines without too much detail I think he was referring to an example .... the ETH fork not too long ago and how the ETC supporters bought all available Dagger-Hashimoto hash from NH at premium and throw hash at the ETC network to catchup with ETH network.... Vitalik was in the audience and ... Andreas didn't go any further on that discussion - but yes, I get him, I think when push comes to shove BU supporters will probably raid all available SHA256 hash for rent from NH to overtake SegWit fork. So when that happens, I dont mind selling my hash at premium. Call me opportunistic but WTH man... I am really sad if BTC comes to this stage.

According to Andreas, if the 51% attack happens -- there is only a "7 block" advantage and.. guess who has the hashing power stashed away in the Mongolian desert.

GPU mining.... hmmmm.... I think we are looking at a new "Trustware" platform, and it will certainly be GPU minable because software+hardware convergence although will be fair for all (and as predicted by Phil... so many hardware vendors will benefit vs only Bitmaintech profits).... it will not repeat the BTC's case of Bitmaintech dominating ASICs hardware. This is just my opinion. I am taking a big bet on ETH mining since, adoption by major exchanges and Coinbase already favors ETH. So I think ETH is safe haven for now at least short term until POS in 2018. I wonder is  ETH is the benchmark of a "Trustware".

Make sense.
Do you plan to expand on Rx470 or rx480 ? or to wait vega before expanding ?

[vg54dett]

Phil , did you fix the Decred to NH issue ? or just satyed with Eth only ?

Another point : do someone know if SimpleMining can handle 7 GPUs with MSI Gaming5 ?

sure it handles the pandaminer with 8

Great thx

[philipma1957]

Thanks Citronick for the feedback !

My team had a meeting after the talk and we decided on some contingencies, pending Segwit vs BU bloodbath around "a few weeks before October". We will be investing more on GPU mining and Ethereum.

More GPUs ? what will you choose to expand now ?

Btw, will move the 2PH BTC farm into rental market before the war starts. When things gets risky and volatile, it's better to rent, sell the picks and shovels to goldminers than to mine the gold yourself

Nicehash , or something else ?

During the talk, Andreas spoke about the possible 51% attack -- reading between the lines without too much detail I think he was referring to an example .... the ETH fork not too long ago and how the ETC supporters bought all available Dagger-Hashimoto hash from NH at premium and throw hash at the ETC network to catchup with ETH network.... Vitalik was in the audience and ... Andreas didn't go any further on that discussion - but yes, I get him, I think when push comes to shove BU supporters will probably raid all available SHA256 hash for rent from NH to overtake SegWit fork. So when that happens, I dont mind selling my hash at premium. Call me opportunistic but WTH man... I am really sad if BTC comes to this stage.

According to Andreas, if the 51% attack happens -- there is only a "7 block" advantage and.. guess who has the hashing power stashed away in the Mongolian desert.

GPU mining.... hmmmm.... I think we are looking at a new "Trustware" platform, and it will certainly be GPU minable because software+hardware convergence although will be fair for all (and as predicted by Phil... so many hardware vendors will benefit vs only Bitmaintech profits).... it will not repeat the BTC's case of Bitmaintech dominating ASICs hardware. This is just my opinion. I am taking a big bet on ETH mining since, adoption by major exchanges and Coinbase already favors ETH. So I think ETH is safe haven for now at least short term until POS in 2018. I wonder is  ETH is the benchmark of a "Trustware".

Make sense.
Do you plan to expand on Rx470 or rx480 ? or to wait vega before expanding ?

  If you are in a position to expand your most import thing is 8gb memory for the card.
then as always price.

I sold every rx 470 except the two I have with 8gb of ram
I sold all my asus rx 480's with only 4gb ram

I sold the panda miner  with rx 480 4gb cards. (still waiting for the coin)

I am down to:

  three asus      rx 480 8gb strix model ------------ does 26- 27mh on  1025 2200 smOS 2 power
  one   asus       rx 480 8gb dual model ------------ does  25-26mh on  1000 2200 smOS 2 power
  eight msi         rx 480 8gb gamer red led --------  does 27mh      on   999  2222 smos  1 power
  two   msi         rx 470  8gb gamer red led -------- does  22mh     on   975  1850 smos  2 power

  two   diamond  rx 480 8gb blower  waiting for arrival of these

this is 16 cards on 8 rigs

If I get cheap diamond cards  I will buy them
But I may do nothing  except move the gear to the solar array

Phil , did you fix the Decred to NH issue ? or just satyed with Eth only ?

Another point : do someone know if SimpleMining can handle 7 GPUs with MSI Gaming5 ?

sure it handles the pandaminer with 8

Great thx

No worries on pointing it out

[vg54dett]

why aiming only at 8gb GPUs ?
Current hashrate is not really better than 4gb.

[thedue]

resale value probably

[philipma1957]

why aiming only at 8gb GPUs ?
Current hashrate is not really better than 4gb.

actually it is if you are not doing bios flash  which I don't do


And if you use smOS  you can buy any 8gb you find on a good sale.

management is easy and as you know I resell whenever I deem it works for me.

Say  the diamond 8gb I just got for 200 each new free shipping.

they will do 53mh   with settings like  999 2100 2 on smOS   at the moment they earn  over 4 bucks a day.

In 30 days  I have 120 back  so I could sell them at 170 each 

400 - 120 = 280 power + 30 = 310  sell at 340  30 dollar profit  in 400

Cards are purchased on paypal credit  so 0 out of pocket  gets me 30 bucks in 30 days.

Everyone gains.
Paypal
diamonmultimedia
buyer from me
and me

 down side is a total market collapse  I am stuck with cards I can't sell that don't earn.

[citronick]

Phil -- does mining ETH from ethpool to Coinbase ETH account still works?

I know ethpool to Poloniex works but I want to skip a step and go direct to Coinbase.

Thanks

[philipma1957]

Phil -- does mining ETH from ethpool to Coinbase ETH account still works?

I know ethpool to Poloniex works but I want to skip a step and go direct to Coinbase.

Thanks

Have not done it since the summer so I don't know.

It would be a lot to lose if it does,not work

[citronick]

Phil -- does mining ETH from ethpool to Coinbase ETH account still works?

I know ethpool to Poloniex works but I want to skip a step and go direct to Coinbase.

Thanks

Have not done it since the summer so I don't know.

It would be a lot to lose if it does,not work

It worked before but now Coinbase has put a notice NOT to mine directly to their ETH wallet.

After last night's interesting awakening... as agreed with my group to start the contingency plan early.

Its sad to see the BTC going this way - hoping that win-win consensus will happen soon before it gets ugly.

Anyways, I have started my strategy to move all GPU rigs to ETH mining (from ZEC) and use ETH as supporting currency for BTC.

I have also increased BTC, ETH to local currency conversion to 50%.

Reduced USD holdings and move to ETH and local currency...

I have also started to move all the Avalons 721 (720TH) from kano pool to Nicehash SHA256 marketplace and get BTC upfront. I am surprised that payrate here for rental is almost as good as PP plus a few more points when SHA256 demand goes up. Currently its paying +23% above than PPS.

Phil - you got help me validate this. They are paying 0.6661 BTC per rented PH.

The 1.3PH S9 farm will move from PPLNS gbminers.com to PPS+ (PPS and tx fees sharing) at Antpool or f2pool or VIABTC.
 
My warehouse power wont be able to handle 33 rigs at full speed so I have to continue using Heliox custom roms for low power and "-li 1" settings for Claymore.

sgminer-gm folks advised me to use sgminer-gm for ETH because it doesn't charge fees - it will be a bit slower but I will stick to Claymore because his power and intensity controls are much better than others. I however lose the failover pool ability in smOS. Need to get Tytanick to figure a custom epools.txt in local miner folder.

[philipma1957]

Phil -- does mining ETH from ethpool to Coinbase ETH account still works?

I know ethpool to Poloniex works but I want to skip a step and go direct to Coinbase.

Thanks

Have not done it since the summer so I don't know.

It would be a lot to lose if it does,not work

It worked before but now Coinbase has put a notice NOT to mine directly to their ETH wallet.

After last night's interesting awakening... as agreed with my group to start the contingency plan early.

Its sad to see the BTC going this way - hoping that win-win consensus will happen soon before it gets ugly.

Anyways, I have started my strategy to move all GPU rigs to ETH mining (from ZEC) and use ETH as supporting currency for BTC.

I have also increased BTC, ETH to local currency conversion to 50%.

Reduced USD holdings and move to ETH and local currency...

I have also started to move all the Avalons 721 (720TH) from kano pool to Nicehash SHA256 marketplace and get BTC upfront. I am surprised that payrate here for rental is almost as good as PP plus a few more points when SHA256 demand goes up. Currently its paying +23% above than PPS.

Phil - you got help me validate this. They are paying 0.6661 BTC per rented PH.

The 1.3PH S9 farm will move from PPLNS gbminers.com to PPS+ (PPS and tx fees sharing) at Antpool or f2pool or VIABTC.
 
My warehouse power wont be able to handle 33 rigs at full speed so I have to continue using Heliox custom roms for low power and "-li 1" settings for Claymore.

sgminer-gm folks advised me to use sgminer-gm for ETH because it doesn't charge fees - it will be a bit slower but I will stick to Claymore because his power and intensity controls are much better than others. I however lose the failover pool ability in smOS. Need to get Tytanick to figure a custom epools.txt in local miner folder.

nicehash  was paying top dollar on btc renting for a few days .6 to .7  it has dropped closer to .52  at the moment I am renting .50 ph from them at a .5111 price  .

Pm me  maybe I can rent from you  directly at a premium.

right now .5286 is exactly 100%


if I pay you .55 a ph and rent all 1.3 ph for a day

your gain is about 4%   about 0.0278 btc



current rental just bumped it from .5111 to .5151

[rawbert]

Phil -- does mining ETH from ethpool to Coinbase ETH account still works?

I know ethpool to Poloniex works but I want to skip a step and go direct to Coinbase.

Thanks

It still works. I mine with 700Mh on ethpool (26 RX4xx cards) and get a block (5 ETH) every 3-4 days directly into my coinbase ETH account.

[groovy1962]

What makes for interest is that  if a coin like ZEC or ETH fails due to a hack.
A new al-gore-rythm should pop up to replace it. SINCE pc parts companies would all benefit

I have been following the ZEC development closely.  Their intention was to be CPU mineable with GPUs getting maybe 4X speedup.  Of course it has not turned out that way.

But one of their policies that they stated was the intention to adjust the PoW parameters if necessary if a shortcut that was too strong was found in the algorithm.

They intend to keep ASICs at bay.  I think this is totally possible.

One way to do this would be to increase the memory requirements.  Right now the ZEC PoW targets 1GB but due to optimizations is only using about 600MB on the GPU... they could increase this to 3GB relatively easily, and make ASICs that much harder (and obsolete a whole set of them in one fell swoop).

Equihash is memory hard-- meaning high performance memory will be the path to the best results.

It remains to be seen whose HBM implementation will be the winner this year-- NVIDIA & AMD are both working on HBM cards for later this year.

[AriesIV10]

Phil -- does mining ETH from ethpool to Coinbase ETH account still works?

I know ethpool to Poloniex works but I want to skip a step and go direct to Coinbase.

Thanks

It still works. I mine with 700Mh on ethpool (26 RX4xx cards) and get a block (5 ETH) every 3-4 days directly into my coinbase ETH account.

If you use Coinbase, make sure that you record your buy and sell amount and rate so that you can report it to the IRS.  
The IRS needs to know all transactions going in and coming out of Coinbase for taxing purposes.  "trading bitcoins or running an exchange, this could be included in gross income and treated as capital gains."

https://bitcoinmagazine.com/articles/tax-day-is-coming-a-primer-on-bitcoin-and-taxes-1459786613/

[xleejohnx]

Phil -- does mining ETH from ethpool to Coinbase ETH account still works?

I know ethpool to Poloniex works but I want to skip a step and go direct to Coinbase.

Thanks

It still works. I mine with 700Mh on ethpool (26 RX4xx cards) and get a block (5 ETH) every 3-4 days directly into my coinbase ETH account.

If you use Coinbase, make sure that you record your buy and sell amount and rate so that you can report it to the IRS.  
The IRS needs to know all transactions going in and coming out of Coinbase for taxing purposes.  "trading bitcoins or running an exchange, this could be included in gross income and treated as capital gains."

https://bitcoinmagazine.com/articles/tax-day-is-coming-a-primer-on-bitcoin-and-taxes-1459786613/

Yeah I read this.
If the IRS really wants to push this for most miners
They would get a huge tax break due to expenses, salary, home use of personal business, etc

[citronick]

What makes for interest is that  if a coin like ZEC or ETH fails due to a hack.
A new al-gore-rythm should pop up to replace it. SINCE pc parts companies would all benefit

I have been following the ZEC development closely.  Their intention was to be CPU mineable with GPUs getting maybe 4X speedup.  Of course it has not turned out that way.

But one of their policies that they stated was the intention to adjust the PoW parameters if necessary if a shortcut that was too strong was found in the algorithm.

They intend to keep ASICs at bay.  I think this is totally possible.

One way to do this would be to increase the memory requirements.  Right now the ZEC PoW targets 1GB but due to optimizations is only using about 600MB on the GPU... they could increase this to 3GB relatively easily, and make ASICs that much harder (and obsolete a whole set of them in one fell swoop).

Equihash is memory hard-- meaning high performance memory will be the path to the best results.

It remains to be seen whose HBM implementation will be the winner this year-- NVIDIA & AMD are both working on HBM cards for later this year.

My R9-Nanos are blazing fast for ZEC mining ~ around 440sols/s per card.
R9-Fury X even faster at 470sols/s.
Nanos are with 4GB HBM though -- wont be useful if ZEC gooes beyond 4GB.
8GB HBM memory will be the way to go.
The only downside was HBM cards are bloody expensive.
I think many memory chip vendors, like Samsung etc. will benefit .... just like what Phil predicted.

[Truthchanter]

Hey if you're selling some of your MSIs soon philip just send me a message, i would like to take a couple of cards off you rather than pay full new price at amazon!

5 asus right here:


https://bitcointalk.org/index.php?topic=1832492.0






I have only 1 msi rx 470 left.

I sold one today.

Holding on to it for a bit.

I see you sold your gpus.. but my question is, don't the gpus lose their warranty? as in only the original owner can use the warranty?

[thedue]

What is the power consumption mining ZEC for nanos / furys compared to rx400?! I remember those furys are monsters?

[citronick]

@phil --- thanks for the analysis on the BTC rental payouts at Nicehash. Very clear.

Btw, I asked my group and sorry to say we can't do private rentals - we may have a few strategies during these coming weeks so we want full control of the farm - moving the hash in and out from Nicehash to other pools.

My X11 farm is rented at Nicehash instead of mining DASH - the amazing thing is renting results higher revenue from mining DASH! The best payout I have seen was 25GH=0.995 BTC per day. And you get BTC upfront - how good is that?

I wonder why people would pay premium to rent hash; not only SHA256 but other algos too.

I can only think of pump and dump activities, and they rent all the hash they can get hold on and pray that value of that coin is more than expenses.

Again, there is a shortage of X11 ASICS, so this maybe a factor in people renting at premium, hoping that DASH goes to the moon.