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

[adaseb]

I know there is alot of hate for ASICs and many people prefer GPUs but if you were around in 2015, owning an ASIC was the only real way to earn any money.

Back then even if you had a big GPU farm, there was nothing to mine. The difficulty was flat and so was the BTC price but many made decent income with the Antminer S5.

Sure it was loud and expensive but during those days it yielded more profit than the GPUs of that time.

[1714490540]

1714490540

[philipma1957]

For me  I am working at getting solar expansion since I have a 73 acre piece of land from and investor with some money.  I have buysolar as a solar guy

our goal will be to develop this and  to develop a 900-1200 watt solar setup for a little guy

both projects  shoud do well in this climate of low margins.

so youre gonna be selling pickaxes and shovels. not a bad strategy at all

Can't a 1200 watt setup already be purchased for a couple of thousand dollars?

over 2200  which is not the price point we want to do this for.

a 1500 dollar setup that runs an L3+ or a 2 board s9

makes a lot of non profitable gear earn a profit.
  
the l3+ is earning about  0.02475 ltc a day that is 2 bucks a day  so in 2-3 years  the solar is paid off.

Since the solar has a long life time of over 10 years a 1500 dollar system should work for miners.

at adaseb  mining asics always slides to low profit as asics are a one trick pony power to coin and no other use.

gpu's were working hard during the two big booms
2013 and 2016 to very early 2018

when gpus are turned to  dust by asics the markets crash because asic builders build  asics like mad and sell them as fast as they can.

then low cost power people buy gear like mad.

pretty much the cycle .

over and over.

[generalt]

when gpus are turned to  dust by asics the markets crash because asic builders build  asics like mad and sell them as fast as they can.

then low cost power people buy gear like mad.

pretty much the cycle .

over and over.

Exactly this.  It all comes down to your cost of power.  The only miners left with be the large farmers and those that don't pay or pay very little for electricity.

[reapz]

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?

outfoxthemarket.com is 9p

[arielbit]

i don't see the point of ASICS saving power as well. Not bashing here but ASICS saving power i can't comprehend. People would just end up buying more asics and hash and in the end what you will have would be same or more power consumption with higher network hashrate and difficulty. Profit would simply readjust and be the same in times like this. ASICS in general i feel is sort of like a nuclear arms race.

The only time i see asics being a viable choice would be perhaps a portfolio diversification where you have x amount of GPU and require x amount of asics to balance your mining venture.

well  that is why asics suck.

if you are all asics  the game becomes power cost


and  cheapest power = winner winner chicken diner.

Gpus were nice  because they had an after life and other purposes besides mining.

As for fpga tech  mixed with  gpus  long run = loser
Short run  they can work.

I can not stress any more  then this  there were millions and millions and millions of gpus that had the ability to make some money.

Killing that off  destroys mining eventually.  Since you kill off the widespread customer base.

For me  I am working at getting solar expansion since I have a 73 acre piece of land from and investor with some money.  I have buysolar as a solar guy

our goal will be to develop this and  to develop a 900-1200 watt solar setup for a little guy

both projects  shoud do well in this climate of low margins.

Just like when claymore releases a 10% more faster update for his miner, people who updates first will get more profitable for a day or two and then suddendly the difficulty increases and we are back to the same level of profitability since all miners already updated their miner software...ASICs are like a slow-motion version of this since the hardware are being shipped batch by batch and sometimes getting sold out.

[QuintLeo]

Whether you like ASICs or not is kind of a null point considering they are being produced regardless.  I understand the argument that people will just buy more and the same amount of electricity will be used regardless.  This argument ignores all of the drawbacks to asics though and only considers the benefits of high hashrate with lower power.  Keep in mind:

1.  ASICs cost significantly more than a GPU
2.  They can only mine one algorithm

[/quote]

1. Depends on the ASIC and the GPU - there are at least 2 current Bitmain ASIC that cost less than a GTX 1070 much less the 1070ti 1080 1080ti or Vega.
  Even the current S9 models are in the SAME price range as a 1080 ti or higher-end Vega.

2. Not always the case - the Bailkal units in particular can ALL mine multiple algorithms, and the Gridseed / SFards chips were dual-algorithm.

In most cases though, an ASIC will completely blow away any GPU on what it CAN work on - it is more limited, but it is more capable by far WITHIN those limits (the Bitmain Ethereum ASIC is the ONLY exception, but even that thing is quite a bit cheaper for the same hashrate and very similar efficiency vs a 6-card GPU rig that achieves about the same hashrate) - which is why folks will continue to invest in ASIC miners despite their limitations.

[philipma1957]

when gpus are turned to  dust by asics the markets crash because asic builders build  asics like mad and sell them as fast as they can.

then low cost power people buy gear like mad.

pretty much the cycle .

over and over.

Exactly this.  It all comes down to your cost of power.  The only miners left with be the large farmers and those that don't pay or pay very little for electricity.

this was a nice run for gpu's

sad that it is over.

Maybe the rendering projects will take off.

So I have  13x 1080ti's left

eth enlargement pill does work and the cards are actually turning a profit using it.

here are 3 1080ti's on eth
https://www.nicehash.com/miner/1JdC6Xg3ajT3rge3FgPNSYYFpmf53Vbtje

here are 6 1080ti's on zec and lyra2rev2


https://www.nicehash.com/miner/146UJM5kgzLVUV23CXCf33KQKHckoX1gx3

I have 4 idle 1080ti's soon to go to eth

[philipma1957]

  if you guys wanna ask yourself what happened its greed.  str8 up
when all you people want is $$$, this happens.
selling a 1080ti to Nicehash for 1.50 a day BEFORE power, geez i thought this board had MINERS... not just penny whores

the MINERS left in 2017, now its just Nicehash whores, selling for w.e they can get

RIP mining, death by yall of our greed.   blame the 25-500+ 1080ti guys

deleted you due to name calling


also I have 13 cards and if they all point to nice hash and earn 20 before power

and  9 after power that is still a 270 a month profit.

My gear is paid off.

I have sold my  gear lower then any else on this site.

I have mined a few shit coins and I am holding them.

SO if I choose to earn 9 a day after power cost there is not a thing wrong with that.

If I point to bis which I have done so and earned BIS which are hodl thats okay too.
if I point to rvn which I have done so and earned RVN which are hodl that is fine.

if I cashed gear out in Jan of this year at lower prices then anyone on this board that was fine.

calling people whores on my thread is not fine.

and to blame people with 25 to 500 + gpu guys is simply not the case.

bitmain and innosilcion built and mined with asics in secret for months.

and fpga guys mined in secret for years.

plus nvidia allowed mining cards to be built.

all this has caused the collapse.

Now I am sitting fine all my gear is paid off.
and I can have idle gear and not have to sell it.
I can also look for a shit coin to mine and hodl

or I can simply pull in 9 a day in profit with those 1080ti's since they are paid off.

[Sebahl]

I myself will keep my rigs, they are paid off. And i am preparing to build a couple more to mine some speculative coins. But only since I have free electricity and I am enjoying building rigs. It's more of a hobby than a serious money maker and I think right now it can only be seen as that.

[philipma1957]

I myself will keep my rigs, they are paid off. And i am preparing to build a couple more to mine some speculative coins. But only since I have free electricity and I am enjoying building rigs. It's more of a hobby than a serious money maker and I think right now it can only be seen as that.

Good advice. Worth merits.

[KaydenC]

I will keep mining because $1.50 after electricity per 1080ti is still good money. A 1080ti is worth $600 USD used, and still pulls $547.5/year at current rates. I hope it remains viable for 5-6 years like the 290, even if it makes just $0.50 a day for the last 2 years.

For now, expansion is halted till new gpus launch.

[adaseb]

Are any of you guys mining and hodling ETH at the time being.

Basically it seems these days with a bunch of rigs, it will still takes many weeks to mine a single ETH.

Wondering if you guys plan on hodling until the Casper launch in the future where you can stake your 32 ETH and earn income like that without needing any GPUs or electricity.

Even before the Casper POS switch, I think they will further reduce the issuance rate to like 0.6ETH per block, I think that should cause a pretty hefty price jump due to the supply strain.

Basically think of LTC that was $2 back in 2015 and nobody wanted to mine it anymore and how it reached almost $400 last year.

[philipma1957]

Are any of you guys mining and hodling ETH at the time being.

Basically it seems these days with a bunch of rigs, it will still takes many weeks to mine a single ETH.

Wondering if you guys plan on hodling until the Casper launch in the future where you can stake your 32 ETH and earn income like that without needing any GPUs or electricity.

Even before the Casper POS switch, I think they will further reduce the issuance rate to like 0.6ETH per block, I think that should cause a pretty hefty price jump due to the supply strain.

Basically think of LTC that was $2 back in 2015 and nobody wanted to mine it anymore and how it reached almost $400 last year.

I hold some eth

[Sebahl]

Are any of you guys mining and hodling ETH at the time being.

Basically it seems these days with a bunch of rigs, it will still takes many weeks to mine a single ETH.

Wondering if you guys plan on hodling until the Casper launch in the future where you can stake your 32 ETH and earn income like that without needing any GPUs or electricity.

Even before the Casper POS switch, I think they will further reduce the issuance rate to like 0.6ETH per block, I think that should cause a pretty hefty price jump due to the supply strain.

Basically think of LTC that was $2 back in 2015 and nobody wanted to mine it anymore and how it reached almost $400 last year.

I think you can't really compare the situation to LTC in 15. Back then there were way less players in the game. I feel like now a lot of people are still just mining since they bought the hardware. I think if the price is stagnant for a while more and more people will part out and sell their rigs. Also Eth will not do x100 in 1-2 years I think. But who knows.

[rs1x]

Are any of you guys mining and hodling ETH at the time being.

Basically it seems these days with a bunch of rigs, it will still takes many weeks to mine a single ETH.

Wondering if you guys plan on hodling until the Casper launch in the future where you can stake your 32 ETH and earn income like that without needing any GPUs or electricity.

Even before the Casper POS switch, I think they will further reduce the issuance rate to like 0.6ETH per block, I think that should cause a pretty hefty price jump due to the supply strain.

Basically think of LTC that was $2 back in 2015 and nobody wanted to mine it anymore and how it reached almost $400 last year.

I hold some eth

this is a different approach than before, correct?  At one point you were in a dispute with developers & an exchange.  Has that dispute been resolved? 

else

what changed your mind about holding this coin?

[adaseb]

Are any of you guys mining and hodling ETH at the time being.

Basically it seems these days with a bunch of rigs, it will still takes many weeks to mine a single ETH.

Wondering if you guys plan on hodling until the Casper launch in the future where you can stake your 32 ETH and earn income like that without needing any GPUs or electricity.

Even before the Casper POS switch, I think they will further reduce the issuance rate to like 0.6ETH per block, I think that should cause a pretty hefty price jump due to the supply strain.

Basically think of LTC that was $2 back in 2015 and nobody wanted to mine it anymore and how it reached almost $400 last year.

I think you can't really compare the situation to LTC in 15. Back then there were way less players in the game. I feel like now a lot of people are still just mining since they bought the hardware. I think if the price is stagnant for a while more and more people will part out and sell their rigs. Also Eth will not do x100 in 1-2 years I think. But who knows.

It will not do x100 for sure. Maybe some rare small cap coins can do x100 but it won't be ETH.

However maybe it can retest the all time high of $1400 or maybe $2000.

Then you might be able to pool your ETH and get some staking profits; no idea how it will work actually.

[philipma1957]

Are any of you guys mining and hodling ETH at the time being.

Basically it seems these days with a bunch of rigs, it will still takes many weeks to mine a single ETH.

Wondering if you guys plan on hodling until the Casper launch in the future where you can stake your 32 ETH and earn income like that without needing any GPUs or electricity.

Even before the Casper POS switch, I think they will further reduce the issuance rate to like 0.6ETH per block, I think that should cause a pretty hefty price jump due to the supply strain.

Basically think of LTC that was $2 back in 2015 and nobody wanted to mine it anymore and how it reached almost $400 last year.

I hold some eth

this is a different approach than before, correct?  At one point you were in a dispute with developers & an exchange.  Has that dispute been resolved? 

else

what changed your mind about holding this coin?

I am still in a dispute  about 2  eth.


But I am holding  a few eth  because multiple people paid me for gear with eth.

and since eth was at 470 or so I said may as well hold the coins..

[TheYankeesWin!]

Here is some good news that I googled

http://marketcoinnews.com/2018/07/flood-in-sichuan-china-destroyed-bitcoin-mining-centers/

[m.vina]

Here is some good news that I googled

http://marketcoinnews.com/2018/07/flood-in-sichuan-china-destroyed-bitcoin-mining-centers/

Sorry to burst your good news bubble but while this mining center in China was flooded and the pictures show a massive amount of ASICs and GPUs, the charts still show that bitcoin difficulty has not at all moved any significantly.

Bitcoin difficulty is still as high as ever. This was probably a much smaller farm then it is portrayed to be.

[philipma1957]

Here is some good news that I googled

http://marketcoinnews.com/2018/07/flood-in-sichuan-china-destroyed-bitcoin-mining-centers/

Sorry to burst your good news bubble but while this mining center in China was flooded and the pictures show a massive amount of ASICs and GPUs, the charts still show that bitcoin difficulty has not at all moved any significantly.

Bitcoin difficulty is still as high as ever. This was probably a much smaller farm then it is portrayed to be.

He posted in an alt coin thread.

I am thinking he saw the same gpus that you did.