8th Alt coin thread. Or what to do now that asics are all over the place.

[henyojess]

hi phil.

I see you have a new thread. hope you are doing fine.
Sold all my btc and will be remaining in cash during this price down turn.
I plan to scale back in when the down turn shows sign of reversal.

I started a mining farm with 3 friends last JAN 2018 and deployed:
12x1060
22x1070
18x570
4x580

we rented out a room which means we have recurring monthly rent cost.
we installed internet service which means we have recurring monthly internet cost.

we cant stop mining unless we pay the pretermination cost on the room and internet,
both contracts are 24months long.

i will crunch some numbers to find at what price btc should drop to which makes profits drop to zero.

[1714498654]

1714498654

[1714498654]

1714498654

[1714498654]

1714498654

[Aeon_]

.
.
This year I am no longer focusing on what gear to use.
But how to expand my cheap reliable power.
.
.

The above caught my attention from Phil's post because as I mentioned before,

1. 2018 and beyond will be very bullish for cryptos and a clear turning point - with wall street money coming into cryptos, expect BTC price to be above $25k very soon. Therefore, you need to be invested in BTC when that peak happens, and justify why we are in mining.

2. GPU vs ASICs - this game is impossible for us miners to chase - this game is well above us sad to say and in the hands of manufacturers like Bitmain, Canaan, Baikals, Halongs etc. I buy ASICs when they are on sales ...

3. The critical success factor for profitable mining is POWER - access to cheap power. If you are home mining and limited in scale, then may not too big of a problem. But if you operate a mining farm or have a few dozen rigs or ASICs, you need to have affordable power... like hydro, geo-thermal, solar etc.

4. Crypto trading - for those who are strictly only mining - start a investment portfolio (in exchange or Trezor/Ledger). This is good strategy to diversify your mining operations (ie. some coins to sell and some to keep short & long term).

My group has some similar views like Phils -- the gear doesnt matter anymore - otherwise we will going in circles. My group decided to focus on "coins/algos" to leverage, in particular Scrypt and SHA256 -- we believe these 2 algos has best bet in the short and long term. Using pools like zpool, Nicehash, esp. MPH, Prohashing enables us to use whatever gear we have and get coins that we want to accumulate (BTC, ETH & LTC).

My group's mining operations now spans 3 countries (to leverage cheapest power on earth) and I have access to all of them via MRR, VPNs and Teamviewer. Its been a great ride so far, and we are far from giving up mining for good.

I've been using ZPOOL / ahashpool to get payouts in btc.  How do you determine what coin you're cards are best suited to mine?

Do you look at the actual 24 hours column at all?  



edit: pasted wrong picture first time.

Just use Nemosminer or Sniffdog and let the sw do the switching for you.

[dhouse]

I'm a smalltime miner. have a 4x rx580 rig and a 5x gtx 1060 rig. Mining Hexx with cpu also because why not. Mining Eth and Nexus with the GPUs and hoping to scale up soon.

Right now I'm just running the two rigs in my unfinished portion of the basement. Thinking about building a dedicated room there, but have to figure out how to ventilate.

I think the whole ASIC explosion is fascinating to watch. I really want to get one of the Decred miners from Halong (b29) or Innosillicon (DecredMaster) but they are hard to find, and I can't handle the noise with my current setup.

[dragonmike]

On a sidenote, since we're talking about power, my provider here in London (British Gas) was going to increase prices to over £0.16/KWh (that's US$ 0.22!)... so I'm in the process of switching. That'll bring me back down to £0.11 ($0.15). Every little helps!

That's interesting, I've been on £0.1282 with BG, they now want £0.16 as they did from you. Best I've been quoted is £0.1321 ($.18) from Scottish Power ... out of interest, who are you switching to?

Bulb.

[philipma1957]

I just read part of Avalon's public prospectus last night.

Seems they want to do more then build sha-256 miners

My message brings an update a year later to this thread... but as part of Canaan's IPO announce, 7nm is confirmed for the "second half of 2018", see page 94 of http://www.hkexnews.hk/APP/SEHK/2018/2018051401/Documents/SEHK201805150005.pdf

Note 2018 second half development of ai

quoted from page 2

"System Products for Other Cryptocurrencies
We currently have an ASIC product for a cryptocurrency other than bitcoin under research and development, for which we have completed front-end IC design, and expect mass production of final products in the fourth quarter of 2018. As of the Latest Practicable Date, we had received pre-sale orders of over RMB53.6 million, subject to the successful test of prototypes. We will continue to develop different types of ASICs to address potential market demand for products with high performance and repeated computing power that can be used for other types of cryptocurrencies that require high computing power.

We began to develop ASICs for AI applications in 2016, and plan to mass produce chips for edge computing, which are known as KPUs, in the fourth quarter of 2018. Target applications include voice and image recognition functionalities in smart home, smart city, smart surveillance, smart toy, and several IoT applications. As of the Latest Practicable Date, we had received pre-sale orders from a variety of customers in a provisional amount of approximately RMB38.2 million in the aggregate, with the actual purchase amount to be adjusted with reference to the then market price of the products after the prototypes have been successfully tested."



quoted from page 7

 "Our future revenue growth, if any, will depend largely on our ability to expand beyond bitcoin mining application and penetrate into new application markets, particularly those ASIC application markets with demand for high performance and computing power or for other types of cryptocurrencies or AI products, all of which are still under development. Each of these markets presents distinct and substantial risks; and
• Our customers and suppliers are based globally, and an increasing portion of our revenues have been derived from sales to customers outside the PRC. As such, changes in government policies, taxes, general economic and fiscal conditions, as well as political, diplomatic or social events expose us to financial and business risks. In particular, changes in policies and laws regarding holding, using or mining of bitcoins could result in an adverse effect on our business operations and our results of operations. Moreover, if any domestic or international jurisdiction where we operate or sell our products prohibits or restricts bitcoin mining activities, we may experience material loss of revenue"


Looks like they may abandon or shift from mining gear

I will be reading more of it today.

[rs1x]

.
.
This year I am no longer focusing on what gear to use.
But how to expand my cheap reliable power.
.
.

The above caught my attention from Phil's post because as I mentioned before,

1. 2018 and beyond will be very bullish for cryptos and a clear turning point - with wall street money coming into cryptos, expect BTC price to be above $25k very soon. Therefore, you need to be invested in BTC when that peak happens, and justify why we are in mining.

2. GPU vs ASICs - this game is impossible for us miners to chase - this game is well above us sad to say and in the hands of manufacturers like Bitmain, Canaan, Baikals, Halongs etc. I buy ASICs when they are on sales ...

3. The critical success factor for profitable mining is POWER - access to cheap power. If you are home mining and limited in scale, then may not too big of a problem. But if you operate a mining farm or have a few dozen rigs or ASICs, you need to have affordable power... like hydro, geo-thermal, solar etc.

4. Crypto trading - for those who are strictly only mining - start a investment portfolio (in exchange or Trezor/Ledger). This is good strategy to diversify your mining operations (ie. some coins to sell and some to keep short & long term).

My group has some similar views like Phils -- the gear doesnt matter anymore - otherwise we will going in circles. My group decided to focus on "coins/algos" to leverage, in particular Scrypt and SHA256 -- we believe these 2 algos has best bet in the short and long term. Using pools like zpool, Nicehash, esp. MPH, Prohashing enables us to use whatever gear we have and get coins that we want to accumulate (BTC, ETH & LTC).

My group's mining operations now spans 3 countries (to leverage cheapest power on earth) and I have access to all of them via MRR, VPNs and Teamviewer. Its been a great ride so far, and we are far from giving up mining for good.

I've been using ZPOOL / ahashpool to get payouts in btc.  How do you determine what coin you're cards are best suited to mine?

Do you look at the actual 24 hours column at all?  



edit: pasted wrong picture first time.

Just use Nemosminer or Sniffdog and let the sw do the switching for you.

Are either of those miners in SMOS ?

[philipma1957]

.
.

.

I've been using ZPOOL / ahashpool to get payouts in btc.  How do you determine what coin you're cards are best suited to mine?

Do you look at the actual 24 hours column at all?  



edit: pasted wrong picture first time.

Just use Nemosminer or Sniffdog and let the sw do the switching for you.

Are either of those miners in SMOS ?

I think they are windows based .

[soothaa]

Phil I'm curious what's with the thinking that GPU mining is dying?

My RX500 series are easily pulling in >$1.00 per GPU per day after power.

My Vegas are >3x that

My 1080tis make $3-$-4 per day per after power

I'm pretty happy.

[tpd09]

.
.
This year I am no longer focusing on what gear to use.
But how to expand my cheap reliable power.
.
.

The above caught my attention from Phil's post because as I mentioned before,

1. 2018 and beyond will be very bullish for cryptos and a clear turning point - with wall street money coming into cryptos, expect BTC price to be above $25k very soon. Therefore, you need to be invested in BTC when that peak happens, and justify why we are in mining.

2. GPU vs ASICs - this game is impossible for us miners to chase - this game is well above us sad to say and in the hands of manufacturers like Bitmain, Canaan, Baikals, Halongs etc. I buy ASICs when they are on sales ...

3. The critical success factor for profitable mining is POWER - access to cheap power. If you are home mining and limited in scale, then may not too big of a problem. But if you operate a mining farm or have a few dozen rigs or ASICs, you need to have affordable power... like hydro, geo-thermal, solar etc.

4. Crypto trading - for those who are strictly only mining - start a investment portfolio (in exchange or Trezor/Ledger). This is good strategy to diversify your mining operations (ie. some coins to sell and some to keep short & long term).

My group has some similar views like Phils -- the gear doesnt matter anymore - otherwise we will going in circles. My group decided to focus on "coins/algos" to leverage, in particular Scrypt and SHA256 -- we believe these 2 algos has best bet in the short and long term. Using pools like zpool, Nicehash, esp. MPH, Prohashing enables us to use whatever gear we have and get coins that we want to accumulate (BTC, ETH & LTC).

My group's mining operations now spans 3 countries (to leverage cheapest power on earth) and I have access to all of them via MRR, VPNs and Teamviewer. Its been a great ride so far, and we are far from giving up mining for good.

I've been using ZPOOL / ahashpool to get payouts in btc.  How do you determine what coin you're cards are best suited to mine?

Do you look at the actual 24 hours column at all?  



edit: pasted wrong picture first time.

Just use Nemosminer or Sniffdog and let the sw do the switching for you.

Are either of those miners in SMOS ?

Phil is right, they are windows based. Ive used Nemosminer and Sniffdog in the past and the experience is not that great... they were not stable in the past.  I had closely monitor they daily, so at some point I gave up.

[MinedTangerine]

Phil I'm curious what's with the thinking that GPU mining is dying?

My RX500 series are easily pulling in >$1.00 per GPU per day after power.

My Vegas are >3x that

My 1080tis make $3-$-4 per day per after power

I'm pretty happy.

Shhhh, let them scream, the more people get out of mining the better

[tpd09]

Phil I'm curious what's with the thinking that GPU mining is dying?

My RX500 series are easily pulling in >$1.00 per GPU per day after power.

My Vegas are >3x that

My 1080tis make $3-$-4 per day per after power

I'm pretty happy.

what are you mining with the 1080tis? RVNs?

[soothaa]

Phil I'm curious what's with the thinking that GPU mining is dying?

My RX500 series are easily pulling in >$1.00 per GPU per day after power.

My Vegas are >3x that

My 1080tis make $3-$-4 per day per after power

I'm pretty happy.

what are you mining with the 1080tis? RVNs?

RVN and sometimes profit switching in AwesomeMiner.

[Suslived]

even if gpu mining goes to more or less zero profit i think there will always be a use for a decent "standby" gpu rig (something thats already ROId).. a rig thats kept updated and ready to roll for any new algos that come along, just download a miner and go. theory being any really new algo wont have asics for a few months. get in early, hash with gpu till the big stuff appears, then back to standby status.

This is a good strategy that i would also like to follow through on. I'm currently on the rocks about selling off some of my GPUs and just keeping a reliable set of 1070s and 1080tis. As long as they are turning a profit above electricity costs they will continue to mine. Then when all goes to shit with ASICs, they will be on standby for new coins with new algorithms.

Thanks for the idea bud.

[ATCkit2]

.
.
This year I am no longer focusing on what gear to use.
But how to expand my cheap reliable power.
.
.

The above caught my attention from Phil's post because as I mentioned before,

1. 2018 and beyond will be very bullish for cryptos and a clear turning point - with wall street money coming into cryptos, expect BTC price to be above $25k very soon. Therefore, you need to be invested in BTC when that peak happens, and justify why we are in mining.

2. GPU vs ASICs - this game is impossible for us miners to chase - this game is well above us sad to say and in the hands of manufacturers like Bitmain, Canaan, Baikals, Halongs etc. I buy ASICs when they are on sales ...

3. The critical success factor for profitable mining is POWER - access to cheap power. If you are home mining and limited in scale, then may not too big of a problem. But if you operate a mining farm or have a few dozen rigs or ASICs, you need to have affordable power... like hydro, geo-thermal, solar etc.

4. Crypto trading - for those who are strictly only mining - start a investment portfolio (in exchange or Trezor/Ledger). This is good strategy to diversify your mining operations (ie. some coins to sell and some to keep short & long term).

My group has some similar views like Phils -- the gear doesnt matter anymore - otherwise we will going in circles. My group decided to focus on "coins/algos" to leverage, in particular Scrypt and SHA256 -- we believe these 2 algos has best bet in the short and long term. Using pools like zpool, Nicehash, esp. MPH, Prohashing enables us to use whatever gear we have and get coins that we want to accumulate (BTC, ETH & LTC).

My group's mining operations now spans 3 countries (to leverage cheapest power on earth) and I have access to all of them via MRR, VPNs and Teamviewer. Its been a great ride so far, and we are far from giving up mining for good.

I've been using ZPOOL / ahashpool to get payouts in btc.  How do you determine what coin you're cards are best suited to mine?

Do you look at the actual 24 hours column at all?  



edit: pasted wrong picture first time.

I've been using AwesomeMiner on my multi-algo Baikals. It seems to be very good. I have seen others mention they use AwesomeMiner for thei GPU rigs. Unfortunately, you can't use it with SMoS.

[Meteorite777]

Did anyone else notice Bitmain just started selling Z9 Mini's under two listings? They are pre-selling/pre-ordering for Batch 2 for late August/Early Septemberafter batch one for 75% price.

I watch Bitmain front page like a hawk, but this makes me curious if they can't sell enough units or if they are just expecting a lot of demand. I assume the former.

[ATCkit2]

i think the new direction to go is efficiency no matter what gear you run. gonna be interesting to see how low i can get my gpu rig, currently ~1000 watts, hope to drop at least 100 watts and not lose too much hash.

even if gpu mining goes to more or less zero profit i think there will always be a use for a decent "standby" gpu rig (something thats already ROId).. a rig thats kept updated and ready to roll for any new algos that come along, just download a miner and go. theory being any really new algo wont have asics for a few months. get in early, hash with gpu till the big stuff appears, then back to standby status.

i definitely want to grab a fpga, even if its just an experiment. fpga success would probably depend on how fast devs can get a a new algos bitstreams out.

I got out of GPU mining and went to only ASICs for morst of 2015 and16. In 2017, I started building GPU rigs mainnly becasue of what you say:" any really new algo wont have asics for a few months. get in early, hash with gpu" and also becuase ETH still had some legs for GPU miners.

With my 20 nVidia cards (2 rigs) I've been minig RVN  most recently-but switched to ZEC yesterday.

My 7x 470 rig pretty much mines only ETH -but i do switch to CN7 when XMR is more profitable.

[lolchina]

.
.
This year I am no longer focusing on what gear to use.
But how to expand my cheap reliable power.
.
.

The above caught my attention from Phil's post because as I mentioned before,

1. 2018 and beyond will be very bullish for cryptos and a clear turning point - with wall street money coming into cryptos, expect BTC price to be above $25k very soon. Therefore, you need to be invested in BTC when that peak happens, and justify why we are in mining.

I am currious on this part of your post,why you think that we will see btc moon soon when nothing really changed from previous bull run?We had 2 years of accumulation before the bull run and the next btc halving is in 2 years,dont you think that we are still in need of some serious regulation that will save us from bitfinex+tether crew price manipulation but also open a path for some serious money to flow in the market(example from few days bill gates saying that he would invest in crypto if he could)

[mochaaa]

Phil, had a chance to look at the algo chances suggested by @ohgodagirl? interesting stuff

[rdluffy]

Phil I'm curious what's with the thinking that GPU mining is dying?

My RX500 series are easily pulling in >$1.00 per GPU per day after power.

My Vegas are >3x that

My 1080tis make $3-$-4 per day per after power

I'm pretty happy.

The problem is not NOW, we are good

But in a few weeks or months we are really screwed with Asics and FPGAs

[Elder III]

What is the advantage of the natural gas generator?  Is it cheaper to power rigs via natural gas generator than with regulator electric?

You can get natural gas for as low as $100 per 1000 cubic meters, it is usually 10 000 kW*hours - $0.01 per kW*hour
Modern high-power turbine generators go as far as 42% efficiency so we can expect something around $0.03 per kW*hour
Not bad at all. But you should seriously consider how long it will take to ROI. If you have some need for secondary heat output (say hot-water for sale) it helps a lot in terms of ROI. Unfornutaly at the moment we got $300 for natural gas locally and $0.05 for electricity so I have no chance to proof my studies for-real :-(.

In our case the primary reason is that we have free heat for our house from the natural gas well in the woods behind us. We need to determine if it would be possible to run both the furnace in the house and the generator for mining power at the same time or not.... also we need to get a quote for installation costs.  Before all of that though, we have some repairs needed for our septic system, and if that ends up being a completely new septic we won't be able to do that and the natural gas generator in the same year.