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

[teskostecenje]

Dont know if you guys saw this,also 50k sols/1150w equihash miner but from asicminer-anyone knows if that company is legit or no?So far there isnt a lot of info about them that i could find
https://asicminer.co/shop/asicminer-equihash

[1714038044]

1714038044

[1714038044]

1714038044

[Biodom]

This is the EOL for GPU on non-forked equihash.
Too bad, I liked to mess with the rigs.
Buying Z9 or Innosilicon is futile since you cannot project diff rise and/or who stays asic-resistant and who falls by the wayside.

[molivil]

Surprisingly I haven't seen major difficulty spikes yet on the ZCash network. The price of ZEC has gone down, and profitability with it. I think I'm going to put my ZEC miners to work on Ubiq/Musicoin or some other profitable coin, maybe even Nicehash. The ZEC miners I have are all equipped with 3 gig cards.

https://www.coinwarz.com/difficulty-charts/zcash-difficulty-chart

[philipma1957]

Dont know if you guys saw this,also 50k sols/1150w equihash miner but from asicminer-anyone knows if that company is legit or no?So far there isnt a lot of info about them that i could find
https://asicminer.co/shop/asicminer-equihash

who cares at this point?  only the mentally ill would buy it. 

my reasoning is this

 A I have been mentally at occasional times in my life so I can say it.
B  if zcash ends up as an asic coin innosilcion has 50,000 sols for 10k  vs 40,000 sols for 15k
C if zcash ends up as a money maker innosilicon uses 620 watts 50k sols  and asic miner uses 1150 watts 40k sols
D if the coin burns out someone will dump one of these for 2k in under 3 months.
E forks are another threat.

[citronick]

Dont know if you guys saw this,also 50k sols/1150w equihash miner but from asicminer-anyone knows if that company is legit or no?So far there isnt a lot of info about them that i could find
https://asicminer.co/shop/asicminer-equihash

who cares at this point?  only the mentally ill would buy it. 

my reasoning is this

 A I have been mentally at occasional times in my life so I can say it.
B  if zcash ends up as an asic coin innosilcion has 50,000 sols for 10k  vs 40,000 sols for 15k
C if zcash ends up as a money maker innosilicon uses 620 watts 50k sols  and asic miner uses 1150 watts 40k sols
D if the coin burns out someone will dump one of these for 2k in under 3 months.
E forks are another threat.

With all these ASICs targeting POW coins, too much crazy money is spent chasing that "perfect ASIC miner".

In the last 3 years, in this chasing game, I was lucky only once, getting a good chunk of early X11 ASICs circa 2016 with Baikals (pre-Giants), and it was purely by chance when nobody was paying attention to newer X11 ASICs and the sudden rise of DASH. Even Baikal probably thought they sold the gear too cheap to my group. Those were the days.

Today, the game is well beyond our control, we get scraps and the "membership fee" to the mining club will soon start 10k and above.

Currently, my group's crypto earnings shows, more than 50% now comes from crypto-currency trading, 30% SHA256 and only 20% from GPU and other POW ASICs.

I think its time for us to re-think our mining strategies, otherwise we just wasting money supporting Bitmain's evil gameplans and experiments.

Experienced miners doing trading gets better results due to our knowledge in crypto mining and how that coin is mined and supported in the crypto ecosystem.

Therefore, why not invest directly into that promising new coin instead?

[philipma1957]

Dont know if you guys saw this,also 50k sols/1150w equihash miner but from asicminer-anyone knows if that company is legit or no?So far there isnt a lot of info about them that i could find
https://asicminer.co/shop/asicminer-equihash

who cares at this point?  only the mentally ill would buy it. 

my reasoning is this

 A I have been mentally at occasional times in my life so I can say it.
B  if zcash ends up as an asic coin innosilcion has 50,000 sols for 10k  vs 40,000 sols for 15k
C if zcash ends up as a money maker innosilicon uses 620 watts 50k sols  and asic miner uses 1150 watts 40k sols
D if the coin burns out someone will dump one of these for 2k in under 3 months.
E forks are another threat.

With all these ASICs targeting POW coins, too much crazy money is spent chasing that "perfect ASIC miner".

In the last 3 years, in this chasing game, I was lucky only once, getting a good chunk of early X11 ASICs circa 2016 with Baikals (pre-Giants), and it was purely by chance when nobody was paying attention to newer X11 ASICs and the sudden rise of DASH. Even Baikal probably thought they sold the gear too cheap to my group. Those were the days.

Today, the game is well beyond our control, we get scraps and the "membership fee" to the mining club will soon start 10k and above.

Currently, my group's crypto earnings shows, more than 50% now comes from crypto-currency trading, 30% SHA256 and only 20% from GPU and other POW ASICs.

I think its time for us to re-think our mining strategies, otherwise we just wasting money supporting Bitmain's evil gameplans and experiments.

Experienced miners doing trading gets better results due to our knowledge in crypto mining and how that coin is mined and supported in the crypto ecosystem.

Therefore, why not invest directly into that promising new coin instead?

For me trading is a no go,but I want to develop solar.

I have a pop concept .  The thread is in spec sha Mining.

The game at this moment is cheap power.

So if you can get a solar setup for the correct price any gear makes money.

If you install a 1500 watt setup that mines off grid without a battery you have full power for an average of five hours a day.  More north maybe four hours a day more south maybe six hours a day.

So a 1500 watt setup doing five hours is 7.5 kwatts a day .  If you figure a year it is about 2700kwatts.

At ten cents that is 270usd in a year 1080usd in four years.

The key is that a proper solar setup is good for ten plus year.

So you are getting 2700 usd worth of power. If I can make this setup for 1000

It is a good deal
If I can do 1350 it is meh.

It allows older asic to remain viable for a long time,

[JaredKaragen]

I kinda miss buying s3's for $40, mining for 3-4 months then selling them for $60 and finding another for $40 to take its place....

[philipma1957]

I kinda miss buying s3's for $40, mining for 3-4 months then selling them for $60 and finding another for $40 to take its place....

Who knows the s-9  may be under 400 or 500 soon

here they are for 749 on ebay

https://www.ebay.com/itm/New-Bitmain-Antminer-S9i-14T-May-batch-ship-now/132631743423?

[sNaKeyz0r91]

What do you guys think about BCI (Bitcoin Interest)? Lately I see it has good profit for equihash algo if we trust whattomine says.
I'm not sure about this one, that's why I'm asking you

[philipma1957]

What do you guys think about BCI (Bitcoin Interest)? Lately I see it has good profit for equihash algo if we trust whattomine says.
I'm not sure about this one, that's why I'm asking you

don't know much


https://coinmarketcap.com/currencies/bitcoin-interest/

https://coinmarketcap.com/currencies/bitcoin-interest/#markets

opened as high as 21 usd  now at 5 or 6

[philipma1957]

What do you guys think about BCI (Bitcoin Interest)? Lately I see it has good profit for equihash algo if we trust whattomine says.
I'm not sure about this one, that's why I'm asking you

don't know much


https://coinmarketcap.com/currencies/bitcoin-interest/

https://coinmarketcap.com/currencies/bitcoin-interest/#markets

opened as high as 21 usd  now at 5 or 6

Now I looked at it. It is paying about 2% interest  a month.

I simply fail to see how they can pay 2% a month. 18 million of 21 million coins have been mined.

This coin reminds me of ppc

I won’t get involved in pos/pow coins that pay interest.

I won’t get involved in pos coin that pay interest.

I fail to see how these coins can generate 2% a month.

[generalt]

innosilicon  has announced a 50000 sol zec miner

uses only 620 watts.

10k  for 1

this will be the end of zec for my 1080ti's

3 1080tis  do 2100 sols at 600 watts


so  this gear is 25 x more efficient.

Buying 75 1080tis cost about 50k

this is 10 k

http://www.innosilicon.com/html/news/26.html

they will do smaller sales  with lower moq in august

at the moment moq is 100 at 10k = 1 million

so my l3+ earn about 2.80 a day  and burn about 2.89 a day due to my summer rates

May be shutting down  everything but sha 256

I'm thinking on the same line as you Phil.  Thinking of shutting down most my miners for now with the way things are now.

If anything I think I would be more inclined to Innosilicon gear over Bitmain.  Anybody else notice that all of Bitmain's new gear doesn't work on all the pools?  It's fishy to me when I read that the A3, X3, and Z9 mini doesn't work on all the pools.  It's like they are trying to force you to use Antpool as well. 

[philipma1957]

Problems abound due to the huge fall runup.

Bitmain saw really big profits last year.


So much so they got ideas on what to do with excess profits.

I find it very interesting that  innosilicon now has

A better zec miner more hash less power.
A better decred miner more hash less power.
A better sia miner more hash less power.
A better sha miner more hash less power.

As compared to bitmain.

Yeah bitmain is cheaper but the specs are better for innosilicon.

[rs1x]

Anyone out there who is more intelligent than me know how to calculate expected time to hit a block solo mining a shitcoin? I’m sure there is some formula involving block time , reward , your hashrate and network hash rate.

[xleejohnx]

Problems abound due to the huge fall runup.

Bitmain saw really big profits last year.


So much so they got ideas on what to do with excess profits.

I find it very interesting that  innosilicon now has

A better zec miner more hash less power.
A better decred miner more hash less power.
A better sia miner more hash less power.
A better sha miner more hash less power.

As compared to bitmain.

Yeah bitmain is cheaper but the specs are better for innosilicon.

Forcing the hand of bitmain i like this.
I like how the decred miner is bogo but it’s 6k for one lol
In a few months I’m sure bitmain will bring something out that will bring a punch to the competitor

[vapourminer]

I find it very interesting that  innosilicon now has

A better zec miner more hash less power.
A better decred miner more hash less power.
A better sia miner more hash less power.
A better sha miner more hash less power.

As compared to bitmain.

Yeah bitmain is cheaper but the specs are better for innosilicon.

with no real competition bitmain probably just sat on their next gen chips and tech (and used it themselves). kinda like intel idled along with no competition for years and then had to up their game when amd came out with ryzen, suddenly intel came out with new cpus very fast, almost like they were just waiting for the right moment.. so, likewise,  maybe bitmain will pull the reserves they've been sitting on out and a real hash war will develop.

[ZedZedNova]

-snip-

With all these ASICs targeting POW coins, too much crazy money is spent chasing that "perfect ASIC miner".

-snip-

Therefore, why not invest directly into that promising new coin instead?

At this point my preferred ASIC is a GPU. Thanks to Phil, I am now mining with current technology. I have a sidehack modded S7-LN that is nice and quiet, but is now losing money with the lower prices and higher diff. Not losing a lot, but for the ~450 Watts that it consumes, I can power another 2 x 1080TI rig, and that will at least be profitable today, flexible so it can adjust to algo changes with a miner software update, and have a chance at achieving ROI eventually with my US$0.10/kWh power at home.

Regarding investing in promising new coins, I have staked Motion(XMN) and MoonDEX(MDEX) master nodes, 1 each, to see how that goes. Each seem promising, and with the challenges that CryptoBridge is experiencing, I think that there is room for multiple players in the DEX space. Hopefully I have speculated wisely. For now I plan to hodl, but if the prices for each of the coins rise sufficiently, I am not averse to moving the earnings to BTC, ETH, or even on to some other speculative coin.

I also really like Phil's idea of solar-only mining, with no grid-tie backup. My current residence has a sizable southern exposure with little shade, and I'd be interested in setting up a small (two or three 250-300 Watt panels) system. It would be cool if adding the ability to scale up just by adding panels wouldn't require too much up-front cost to the small system install.

I'd be interested in adding a small(ish) battery backup for the system because I'd like to be able to gracefully shut down the miner(s) (I'm thinking of only GPU mining with a linux based system) when the output of the solar panels drops below that required to support the mining gear. I'm thinking that a raspberryPI could be used for the monitoring, with the ability to ssh into the miner to safely shut down, and managing a switched outlet(s) for the mining gear. The rPI would stay running and when the power output from the solar panels reached a sufficiently high level it would enable the switched outlet and the miner would boot. The rPI could also act as an ethernet to wifi router for connectivity to my home network.

[MagicSmoker]

Anyone out there who is more intelligent than me know how to calculate expected time to hit a block solo mining a shitcoin? I’m sure there is some formula involving block time , reward , your hashrate and network hash rate.

I have a spreadsheet set up to calculate coins per day based on difficulty, block reward and my hashrate. The formula is pretty simple, but I seem to recall it doesn't work for Ethash and maybe one other algo. Anyway, it's basically (Your hashrate * block reward * 86400) / difficulty, where 86400 is the # of seconds in a day.

Then just divide the number of coins per day by the block reward to get the fraction of a day it will take to find a block.

EDIT - I just found out (from the DERO Slack channel) that difficulty is "network hashrate * block time" and since network hashrate is in hashes/second and block time is in seconds, multiplying the two gives you hashes. I actually never realized that the units for difficulty are hashes, but it's kind of obvious in retrospect. Anyway, just divide difficulty by your hashrate to find out the approximate time to find a block (though remember it's a statistical event so no guarantees).

[R0mi]

At this point my preferred ASIC is a GPU. Thanks to Phil, I am now mining with current technology. I have a sidehack modded S7-LN that is nice and quiet, but is now losing money with the lower prices and higher diff. Not losing a lot, but for the ~450 Watts that it consumes, I can power another 2 x 1080TI rig, and that will at least be profitable today, flexible so it can adjust to algo changes with a miner software update, and have a chance at achieving ROI eventually with my US$0.10/kWh power at home.

Regarding investing in promising new coins, I have staked Motion(XMN) and MoonDEX(MDEX) master nodes, 1 each, to see how that goes. Each seem promising, and with the challenges that CryptoBridge is experiencing, I think that there is room for multiple players in the DEX space. Hopefully I have speculated wisely. For now I plan to hodl, but if the prices for each of the coins rise sufficiently, I am not averse to moving the earnings to BTC, ETH, or even on to some other speculative coin.

I also really like Phil's idea of solar-only mining, with no grid-tie backup. My current residence has a sizable southern exposure with little shade, and I'd be interested in setting up a small (two or three 250-300 Watt panels) system. It would be cool if adding the ability to scale up just by adding panels wouldn't require too much up-front cost to the small system install.

I'd be interested in adding a small(ish) battery backup for the system because I'd like to be able to gracefully shut down the miner(s) (I'm thinking of only GPU mining with a linux based system) when the output of the solar panels drops below that required to support the mining gear. I'm thinking that a raspberryPI could be used for the monitoring, with the ability to ssh into the miner to safely shut down, and managing a switched outlet(s) for the mining gear. The rPI would stay running and when the power output from the solar panels reached a sufficiently high level it would enable the switched outlet and the miner would boot. The rPI could also act as an ethernet to wifi router for connectivity to my home network.

If you are interested in Solar, HomePower is a decent publication to get (digital issues/print issues, access to all back copies in digital PDF format).  You can do small solar pretty easily with good crimpers, Chinese connectors, and so forth.

[vapourminer]

Side note
Did anyone order the trezor t ??

yes my t arrived yesterday. setting it up tomorrow (31 may).

already have two trezor ones.

Let me know if you like it

love it so far.

usb c cable clicks in place, you know its secure and it can dangle off your desk or whatever no problems.

screen is great, good colors, good response. sometimes a bit tight entering pin/passphrases but its not that bad.

you may want to order a longer usb "B" to "C" cable, the one that comes with it is kinda short. thats if you dont have usb C on your computer of course.

browser UI is the same as before, no surprises there.

it can recover trezor one 24 word seeds even though stock it will default to 12 words seeds.

all in all a very easy transition. slowly moving funds over to it.