SidETH
Member
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Activity: 116
Merit: 20
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June 13, 2017, 09:21:32 PM |
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Buy some various coins with money you can miss. Build a rig with money you can miss. Let it run for as long as possible and don't sell. Smile or cry in a couple of years. We'll see
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grchina
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June 13, 2017, 09:32:09 PM |
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It would be useful if someone were to make a guide with basic stuff here,i know you can find information on many sites but still this is one of top crypto forums and yet it doesn't have guides or newbie part.Just my two cents,personally i don't mind asking others for help about stuff i am not 100% sure
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nerdralph
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June 13, 2017, 09:37:32 PM |
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Maybe they will, IF they have no more tweaks to do on the silicon, yields are up, and IF HBM2 supplies are solid. With the Rx 500 series being the 2nd rev of Polaris silicon on 14nm, yields should be much higher than vega, and 3rd party board makers all have designs and manufacturing capacity that they can likely ramp up. Although prices are up a bit this spring, GDDR5 is widely available and still less expensive than HBM2 chips.
six months is along time to wait, honestly i think these shortages are artificial in nature, hash rates continue to go up but amd supplies i insist they are out of stock. Meanwhile i see 100s of cards on ebay and amazon at a 50% margin out of stock you say? hmmm ok Its obvious some ppl are able to source Amd cards... Of course. The cards are on allocation, so distributors get limited quantities, based on their past order history or some other method. Distributors and retailers will usually allow employees to purchase small quantities. Some companies like ncix are accepting back-orders, so when they do get product it doesn't show in stock because it's used to fill back-orders.
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VyprBTC
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June 13, 2017, 11:27:43 PM |
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There is no way this can sustain for mining. I went to Fry's today and the guy told me they sold 60 cards yesterday.......at one location. People are crazy dropping 6-10 grand and not knowing what they are doing.
LOL if it was Manhattan Beach location, he exaggerated a tiny bit - it was less than 60
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martyroz
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June 13, 2017, 11:43:50 PM |
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then why did u even post rant away bruh lol
I'll rant if you want one. This forum is full of bad generalizations about noobs not doing research and building rigs on debt. I did a ton of research and built a rig with cash I can afford to lose. Marvell1 in your first post you sound like a bloke trying to convince everyone he's doing great when the real story is you f'd up and sold $3.8m worth of ETH to pay a months rent. I'm not selling a single thing I mine unless it's totally life changing, because I don't need to hit ROI, I don't need passive income. It's a long-odds wager on a jackpot and anything short of that is simply not why I'm here. Noob out.
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adaseb
Legendary
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Activity: 3878
Merit: 1733
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June 14, 2017, 12:49:45 AM |
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I think the people who are going to get burnt the most is not the newbies who are buying GPUs here with their credit cards but it will be the people investing their savings into ETH and ETH Token ICOs.
Those ICOs can easily turn into huge scams and result in a loss of 99%. Buying computer equipment is much safer in that regard and most will ROI before the bubble bursts anyways.
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Marvell1 (OP)
Legendary
Offline
Activity: 2548
Merit: 1136
Leading Crypto Sports Betting & Casino Platform
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June 14, 2017, 01:58:41 AM |
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then why did u even post rant away bruh lol
I'll rant if you want one. This forum is full of bad generalizations about noobs not doing research and building rigs on debt. I did a ton of research and built a rig with cash I can afford to lose. Marvell1 in your first post you sound like a bloke trying to convince everyone he's doing great when the real story is you f'd up and sold $3.8m worth of ETH to pay a months rent. I'm not selling a single thing I mine unless it's totally life changing, because I don't need to hit ROI, I don't need passive income. It's a long-odds wager on a jackpot and anything short of that is simply not why I'm here. Noob out. Im not the only one who sold eth low most miners didnt expect ether to hit even $50 for a few years yet, just like the ppl who mined a ton of btc or ltc early at low diff and sold low or no pne can tell the future, if the money is not in your hands you never really had it. Most of the large chunks of money I have made is from icos, and Dummy I was using the eth sold to pay my rather large ectricity bills and to invest in Icos and also upgrade my farm and power system etc. Right now i still have over 9gh of eth hash in hardware which only 5ghz is online for the summer you think im gloating but all Im doing is stating facts : if i had my entire farm online i could buy 100 gpus a month just from the proceeds and im sure there are alot of other pro miners in way better shape than me which is why im saying new miners are in a losing situation if they ONLY focus on building rigs, reading comprehension pls
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Elder III
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June 14, 2017, 02:33:56 AM |
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Everyone has to start somewhere and we were all newbs at one point... still it would be nice if more people would do a Google search or two and have at least a clue about cryptocurrencies in general before posting threads here.
If I had saved my Bitcoins from 2011-2012 I'd be allot better off then I am now, but I think that's the case for most of us.
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64dimensions
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June 14, 2017, 03:11:41 AM |
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For this miner, financial sustainability al la Phil Ma and others above was important in order to demonstrate to the wife that this was not just another harebrained mancave money sink hole.
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Sweetbtc
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July 11, 2017, 04:55:58 PM |
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Seems like everyone and thier mama is trying to build a rig to mine ether 😃😃 Kinda feel bad for these late commers even the ones with deep pockets , If they had jumped on board say three to six months ago they would be in way better shape now with cards hard to find difficulty rising like crazy creating a few rigs to hedge is not a terrible idea but you have a better chance to make money buy buying into the eth based icos or buying related tokens low selling high on the pump and dump waves.
all my 45 rigs are paid for so mining and expanding is trivial for me , i have around 50 cards i bought back when the rx 500s launched that i dont even have the electricity to power that i listed on ebay for $580 a card and they are SELLING 😂😂
the current state of this forum is hillarious to me. I made 30k on the augur Ico, 10k on waves sold both way way too low , learned from my mistakes I hope all these newbs dont get burned
This brings to mind a funny story. Last year we were buying and new car and moving some things at the same time. Basically, during the move, the heavy items put one of our older vehicles out of commission and we went out and quickly bought another used car
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puwaha
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July 12, 2017, 01:16:12 AM |
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This brings to mind a funny story. Last year we were buying and new car and moving some things at the same time. Basically, during the move, the heavy items put one of our older vehicles out of commission and we went out and quickly bought another used car
I'm not sure how that relates, but Ok.
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Sweetbtc
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July 12, 2017, 03:50:49 PM |
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This brings to mind a funny story. Last year we were buying and new car and moving some things at the same time. Basically, during the move, the heavy items put one of our older vehicles out of commission and we went out and quickly bought another used car
I'm not sure how that relates, but Ok. Its relates. I have not finished yet. The vehicle had died near a Walmart and we parked it there until we could get to it. We really considered towing and repairing it beyond the worth of the vehicle. In it was a handful of worthless stuff and an ASIC. It was an older unit, a 60 GHS unit that we never used anymore. Just a plain black box with a WIFI antenna and a few ports. The vehicle got towed while we were getting to dealing with it. Calling the impound, they stated that many people could not afford or did not care to pick up theirs cars and the impound offered right away to waive any fees in exchange for keeping the dead vehicle. We agreed and they said to come and pick up the personal items.
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Amph
Legendary
Offline
Activity: 3248
Merit: 1070
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July 12, 2017, 04:06:06 PM |
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i feel you... same here...sold 100 eth @ 40$, but let's learn from it? selling 1/3 to cover the cost and holding 2/3 lol i sold over 10k eth at low ass prices makes me sick everytime i think of it. Thats why i spend more time trading now theres more money made playing the markets than mining and dumping from the way prices fluctuate it's easy to say it now after you see the peak, but trading is far more dangerous than many think, it's not easy money, like with mining, you can also lose big with trading, not with mining, i never lost a penny with mining
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puwaha
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July 12, 2017, 07:01:52 PM |
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it's easy to say it now after you see the peak, but trading is far more dangerous than many think, it's not easy money, like with mining, you can also lose big with trading, not with mining, i never lost a penny with mining
And that's kind of the point to this thread. Everyone is so hung up on ROI (even though that's not the correct term) and they want it as fast as possible. New miners don't realize it can take a while to navigate downturns in the market. Everyone wants big money now, and they want shortcuts to get there. You can't blame them, they aren't experienced enough yet to know why their best laid plans may take bit longer.
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Sweetbtc
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July 13, 2017, 04:00:45 PM |
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This brings to mind a funny story. Last year we were buying and new car and moving some things at the same time. Basically, during the move, the heavy items put one of our older vehicles out of commission and we went out and quickly bought another used car
I'm not sure how that relates, but Ok. Its relates. I have not finished yet. The vehicle had died near a Walmart and we parked it there until we could get to it. We really considered towing and repairing it beyond the worth of the vehicle. In it was a handful of worthless stuff and an ASIC. It was an older unit, a 60 GHS unit that we never used anymore. Just a plain black box with a WIFI antenna and a few ports. The vehicle got towed while we were getting to dealing with it. Calling the impound, they stated that many people could not afford or did not care to pick up theirs cars and the impound offered right away to waive any fees in exchange for keeping the dead vehicle. We agreed and they said to come and pick up the personal items. We were so busy it took a week to get there and they now wanted $100 to release the stuff, we walked away and figure let them have the junk, ASIC included, it had paid for itself years back.
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h311m4n
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July 13, 2017, 05:36:42 PM |
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Seems like everyone and thier mama is trying to build a rig to mine ether 😃😃 Kinda feel bad for these late commers even the ones with deep pockets , If they had jumped on board say three to six months ago they would be in way better shape now with cards hard to find difficulty rising like crazy creating a few rigs to hedge is not a terrible idea but you have a better chance to make money buy buying into the eth based icos or buying related tokens low selling high on the pump and dump waves.
all my 45 rigs are paid for so mining and expanding is trivial for me , i have around 50 cards i bought back when the rx 500s launched that i dont even have the electricity to power that i listed on ebay for $580 a card and they are SELLING 😂😂
the current state of this forum is hillarious to me. I made 30k on the augur Ico, 10k on waves sold both way way too low , learned from my mistakes I hope all these newbs dont get burned
Totally agree with this. Speaking as one of the newbies, I don't know if I will make enough to pay for the parts as I fully expect GPU mining to become unprofitable for everyone paying more than 10 cents a kwh by the end of the year. That would be fine actually but it might not even last another 2 or 3 months. Too many people jumping in without understanding the current boom times will definitely not last for long. It's purely a hobby for me as my electricity costs are closer to 20c / kwh. Its far more than a hoby for me my power isnt cheap .09 cents /kwh but i got my gpus at half the price they are selling for now , changes the eqation alot No way id pay more that $280 forcan rx card let alone $550 , it might pay off but that $$ would go a long way to building a stack of crypto worth more than any rig Yeah, noobs, noobs everywhere. I was one too once, but I did my research and learned by reading as much as I could instead of posting the constant "Help" thread about building a rig and buying cards That said, I think mining still has some way to go. When I started I was barely making a few dollars a day. No alt was where they are today. There are over 800 cryptos out there and I'm pretty sure new ones will appear. Maybe a new ETH is on it's way, who knows. I switched to ETC about a month ago, foreseeing that all the ETH miners would switch over soon. Glad I did because over the last couple of days, mining 1 ETC got from about 4 to 7 hours for me. Indeed, paying 580$ for an RX card is just plain retarded. I was looking at GTX 1060s today. I could buy some for around 300$. Say I take 8 of them, I'm looking at 2400$. They will hash roughly at 24 each. But the ROI time is waaaay too long for this to make any sense to me. I preordered a bunch of 570s a month ago for 200$, i'll just wait it out until they arrive. I think many newbs don't understand the concept ROI and how to invest in something. Buying super expensive just to get in when you have not a single fucking clue about how long this will all last is just so stupid. It's like going all in on trading without taking a look at the charts and just blindly buying a coin because it just reached an all time high.
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peonv
Newbie
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Activity: 18
Merit: 0
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July 13, 2017, 05:40:04 PM |
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then why did u even post rant away bruh lol
I'll rant if you want one. This forum is full of bad generalizations about noobs not doing research and building rigs on debt. I did a ton of research and built a rig with cash I can afford to lose. Marvell1 in your first post you sound like a bloke trying to convince everyone he's doing great when the real story is you f'd up and sold $3.8m worth of ETH to pay a months rent. I'm not selling a single thing I mine unless it's totally life changing, because I don't need to hit ROI, I don't need passive income. It's a long-odds wager on a jackpot and anything short of that is simply not why I'm here. Noob out. I agree with the Go big or go home part. ROI calculations are often wrong as the landscape is ever changing. Noobs gonna learn it the hard way and most of them will call it quit.
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ghobson
Full Member
Offline
Activity: 250
Merit: 100
Crypto Developer
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July 13, 2017, 06:54:01 PM |
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Everyone has to start somewhere and we were all newbs at one point... still it would be nice if more people would do a Google search or two and have at least a clue about cryptocurrencies in general before posting threads here.
If I had saved my Bitcoins from 2011-2012 I'd be allot better off then I am now, but I think that's the case for most of us.
cryptocurrency training courses, or how about mandatory self-certification of crypto 101 course before beeing allowed to register on this forum
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Join the boid community, earn crypto while doing real research with your cpu/gpu boid.com
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JohnBitCo
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July 16, 2017, 02:44:33 AM |
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Everyone has to start somewhere and we were all newbs at one point... still it would be nice if more people would do a Google search or two and have at least a clue about cryptocurrencies in general before posting threads here.
If I had saved my Bitcoins from 2011-2012 I'd be allot better off then I am now, but I think that's the case for most of us.
cryptocurrency training courses, or how about mandatory self-certification of crypto 101 course before beeing allowed to register on this forum Because we let them come here and ask. If we would direct them away from us, they might actually get good answers and not the games that people are on here to play
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Sweetbtc
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July 16, 2017, 09:31:07 AM |
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Everyone has to start somewhere and we were all newbs at one point... still it would be nice if more people would do a Google search or two and have at least a clue about cryptocurrencies in general before posting threads here.
If I had saved my Bitcoins from 2011-2012 I'd be allot better off then I am now, but I think that's the case for most of us.
cryptocurrency training courses, or how about mandatory self-certification of crypto 101 course before beeing allowed to register on this forum Because we let them come here and ask. If we would direct them away from us, they might actually get good answers and not the games that people are on here to play We need to clean the scam people everywhere. There are too many games being played, even Yobit wants nothing to do with this , and it is owned by the admins here. They are doing good job overall.
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