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

[adaseb]

I've actually used QuadrigaCX a few years ago. Reason why is because at the time there was no other exchange in Canada.

I never encounted any major issues but I stopped using them when they got a bunch of ETH stuck on that smart contract. No idea what the value was but it was in the millions. Of risk of the exchange being insolvent if everybody decided to withdraw their ETH, I switched to another exchange.

Someone actually pointed out about a year ago or so with that Patryn connection to the fugitive. Unfortunately I didn't believe the story back then and neither did many people. People were too busy watching BTC hit $20K and ETH $1400.

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[arielbit]

That is some seriously cool work there mate! ^

I am very jealous of such a setup, solar doesn't work here  

i would like to point out that there is another option, passive income like rooms/apartment/anything for rent produces current too just a different kind of current called currency $$$ that currency can get you coins thru exchanges or run your rigs thru the electric company by sending them $$$.


here is a food for thought, the biggest mining farm--> federal reserve, they can print 4000$ cash for just around 3$ cost...just 3$ for 1 BTC...even cheaper, just typing 4000$ in a computer, that's just cents in electricity and efforts for 1 BTC   hehe

[adaseb]

Looks like Monero is finally going to fork to solve the issues with all these FGPA/ASICs. The fork is very soon and the algo isn't even out yet. Seems like a very rushed job.

Wondering what the profits will be like. I am assuming it will be profitable for a week or 2 and then many of the ETH miners will switch back to XMR and it will become unprofitable as it was before.

[alraop94]

good, I'm new here, could someone tell me what is the mining thread of altcoins? information or some other discussion? Thank you

[philipma1957]

good, I'm new here, could someone tell me what is the mining thread of altcoins? information or some other discussion? Thank you

there are 8 threads  going back to  2016

a lot of info  on how to mine trade  coins


 and build gear buy gear sell gear

[dragonmike]

Looks like Monero is finally going to fork to solve the issues with all these FGPA/ASICs. The fork is very soon and the algo isn't even out yet. Seems like a very rushed job.

Wondering what the profits will be like. I am assuming it will be profitable for a week or 2 and then many of the ETH miners will switch back to XMR and it will become unprofitable as it was before.

Or it might be something they've been working on for a while and are keeping secret until the last minute to preserve the flexibility advantage that GPU miners would have compared to releasing it too early and allowing the Nicehashes, FPGA and ASIC devs of this world to study it.

One can hope, right?

When's the fork? EDIT: found it. "Around March 9" according to Justin Ehrenhofer.

[soothaa]

Looks like Monero is finally going to fork to solve the issues with all these FGPA/ASICs. The fork is very soon and the algo isn't even out yet. Seems like a very rushed job.

Wondering what the profits will be like. I am assuming it will be profitable for a week or 2 and then many of the ETH miners will switch back to XMR and it will become unprofitable as it was before.

Ohhh this would be nice. Almost my entire farm is powered down with this heat wave..

[P00P135]

Looks like Monero is finally going to fork to solve the issues with all these FGPA/ASICs. The fork is very soon and the algo isn't even out yet. Seems like a very rushed job.

Wondering what the profits will be like. I am assuming it will be profitable for a week or 2 and then many of the ETH miners will switch back to XMR and it will become unprofitable as it was before.

I think it took 2-3 days for the difficulty to normalize after the last fork.  Then after that it was only like 2 days of good profit before all the CPU bot nets and conspiracy theory fpga/asics hopped back on board.

[adaseb]

The last time that XMR forked, I remember it was profitable simply because many people didn't know how to flash their BIOS so they could get the optimal speed with their RX GPUs. Many people were getting crashes or hashing at 50% of the optimal speed.

If you were good with computers, and modding bioses you could figure it out. But many people struggled and just stayed with ETH. However eventually Youtube videos started coming out with step by step instructions and it wasn't long before everybody switched to XMR V8 mining.

[herrdrone]

The last time that XMR forked, I remember it was profitable simply because many people didn't know how to flash their BIOS so they could get the optimal speed with their RX GPUs. Many people were getting crashes or hashing at 50% of the optimal speed.

If you were good with computers, and modding bioses you could figure it out. But many people struggled and just stayed with ETH. However eventually Youtube videos started coming out with step by step instructions and it wasn't long before everybody switched to XMR V8 mining.

According this analysis +85% of Monero network hashrate are asic: https://medium.com/@MoneroCrusher/analysis-more-than-85-of-the-current-monero-hashrate-is-asics-and-each-machine-is-doing-128-kh-s-f39e3dca7d78

It will be very interesting to see how much hashrate decrease after fork.

[JaredKaragen]

The last time that XMR forked, I remember it was profitable simply because many people didn't know how to flash their BIOS so they could get the optimal speed with their RX GPUs. Many people were getting crashes or hashing at 50% of the optimal speed.

If you were good with computers, and modding bioses you could figure it out. But many people struggled and just stayed with ETH. However eventually Youtube videos started coming out with step by step instructions and it wasn't long before everybody switched to XMR V8 mining.

According this analysis +85% of Monero network hashrate are asic: https://medium.com/@MoneroCrusher/analysis-more-than-85-of-the-current-monero-hashrate-is-asics-and-each-machine-is-doing-128-kh-s-f39e3dca7d78

It will be very interesting to see how much hashrate decrease after fork.

The math and methodology from what i have seen seem is pretty sound....   and sounds about right in the end.....   I have been thinking of taking my personally used builds of XMR stak;  and randomizing the initial nonce somewhat....   I have doen this to other miner apps int he past with good results;  better overall average hashrates.   

I know its partially a placebo thing;  but, if everyone starts in a different portion of the race, they stand less chance of crashing into each other


But this fork will scream louder than any words.   All previous forks have.... and this one, being quiet about its changes until the final week;  is a smart thing;  as long as the devs have a working and tested algo at the time of release; and don't supply a devfee'd out binary/source (which they have not as of yet).

Other binary producers will have to scramble to update themselves;  but honestly;  this will help immensely in the end; and i am 100% for it.

Through this whole algo cycle till today;  I have had 1.2-1.8Kh/s on the monero network; and will continue to keep faith in it.    Privacy coins have been under scrutiny and attack for a bit now.... there's a reason for that....

[dragonmike]

The last time that XMR forked, I remember it was profitable simply because many people didn't know how to flash their BIOS so they could get the optimal speed with their RX GPUs. Many people were getting crashes or hashing at 50% of the optimal speed.

If you were good with computers, and modding bioses you could figure it out. But many people struggled and just stayed with ETH. However eventually Youtube videos started coming out with step by step instructions and it wasn't long before everybody switched to XMR V8 mining.

According this analysis +85% of Monero network hashrate are asic: https://medium.com/@MoneroCrusher/analysis-more-than-85-of-the-current-monero-hashrate-is-asics-and-each-machine-is-doing-128-kh-s-f39e3dca7d78

It will be very interesting to see how much hashrate decrease after fork.

I also heard those ASICs are of the stone-age 65nm-kind that have somehow been repurposed to mine Monerov8. Go figure.
Anything they do to fork away from this will be good for GPU miners.

A little price pump would do wonders too!

[citronick]

anyone mining ZIL (Zilica)?

uupool seems to have setup a live pool using Ethash algo to dual mine ZIL and ETH.

I switched my modest farm from ETC to ZIL+ETH at low intensity to save on power and see how this ZIL goes.

Yeah this ZIL is yet another platform project, but hitting nearly 3000 tx/s is quite impressive (apart from TRON)

https://uupool.cn/zil/tmteth/

[QuintLeo]

@ vosk BCI is a shit coin  the entire net work is 10.11gh  I am at 210mh or 1/50 of the network

There have been times I managed close to 2% on a couple smaller coins - DGB for one, and I think Gridcoin I was pushing close to that before they decided to delist MooWrapper for "not being scientific enough" - while still supporting several other projects that were even less scientific.
To be fair, sometime in the last 6 months they've gotten around to delisting most of those OTHER projects.

At my peak in Folding@Home, I was a bit over 2% - then the "rented farms" fad and a certain developer got crazy-big.

Even some not-entirely-shit coins don't take a lot of horsepower to "go big" on at times.

[philipma1957]

@ vosk BCI is a shit coin  the entire net work is 10.11gh  I am at 210mh or 1/50 of the network

There have been times I managed close to 2% on a couple smaller coins - DGB for one, and I think Gridcoin I was pushing close to that before they decided to delist MooWrapper for "not being scientific enough" - while still supporting several other projects that were even less scientific.
To be fair, sometime in the last 6 months they've gotten around to delisting most of those OTHER projects.

At my peak in Folding@Home, I was a bit over 2% - then the "rented farms" fad and a certain developer got crazy-big.

Even some not-entirely-shit coins don't take a lot of horsepower to "go big" on at times.

with my solar power deals i can mine it at very little cost.

I have more then 6000 coins I earn 200 or so a week so I could be at 16000 coins a year from today

coins float from 16 to 22 cents and when at 16 I make a few more blocks then when it is at 22

If I am lucky  and it has one runup 16000 coins could be 48000-60000 bucks

My cost to mine then will be under 3000 from sept 2018 to jan 2020

[QuintLeo]

i would like to point out that there is another option, passive income like rooms/apartment/anything for rent produces current too just a different kind of current called currency $$$ that currency can get you coins thru exchanges or run your rigs thru the electric company by sending them $$$.

here is a food for thought, the biggest mining farm--> federal reserve, they can print 4000$ cash for just around 3$ cost...just 3$ for 1 BTC...even cheaper, just typing 4000$ in a computer, that's just cents in electricity and efforts for 1 BTC   hehe

The "passive income" thing can work, but it does have costs and needs a LOT of investment to generate significant income.
My maternal Grandparents went that route after Grandpa retired - but they had fairly close to $1,000,000 to work with between Grandpa cashing out his "employee stock purchase" plan, them selling their (fairly small) farm, etc.
You can get started with quite a bit less than that though - but it's a case of "more investment = more income" and is pretty close to linear in a given area.

The Federal Reserve Bank does NOT print money - that's the US Treasury Department via the US Mint(s), and they also turn metal into money (but sometimes at a LOSS on that, pennies in particular the material cost has been higher than 1 cent for a LONG time now).

[arielbit]

i would like to point out that there is another option, passive income like rooms/apartment/anything for rent produces current too just a different kind of current called currency $$$ that currency can get you coins thru exchanges or run your rigs thru the electric company by sending them $$$.

here is a food for thought, the biggest mining farm--> federal reserve, they can print 4000$ cash for just around 3$ cost...just 3$ for 1 BTC...even cheaper, just typing 4000$ in a computer, that's just cents in electricity and efforts for 1 BTC   hehe

The "passive income" thing can work, but it does have costs and needs a LOT of investment to generate significant income.
My maternal Grandparents went that route after Grandpa retired - but they had fairly close to $1,000,000 to work with between Grandpa cashing out his "employee stock purchase" plan, them selling their (fairly small) farm, etc.
You can get started with quite a bit less than that though - but it's a case of "more investment = more income" and is pretty close to linear in a given area.

The Federal Reserve Bank does NOT print money - that's the US Treasury Department via the US Mint(s), and they also turn metal into money (but sometimes at a LOSS on that, pennies in particular the material cost has been higher than 1 cent for a LONG time now).

different countries different economic scenario, from where I am a 65,000$ can purchase a lot that you can lease at ~500$ a month, any improvements will increase the passive income from 500$ to above that..but surely you have to shift though shitcoins in real estate, sometimes you might get lucky.

renewable energy=nature

passive income=humans as battery, paying you money which is convertible to almost anything.

look at phil's thread on the second solar farm, i think what people will commonly overlook is the warehouse owner has a cut in profits hehe

[dragonmike]

anyone mining ZIL (Zilica)?

uupool seems to have setup a live pool using Ethash algo to dual mine ZIL and ETH.

I switched my modest farm from ETC to ZIL+ETH at low intensity to save on power and see how this ZIL goes.

Yeah this ZIL is yet another platform project, but hitting nearly 3000 tx/s is quite impressive (apart from TRON)

https://uupool.cn/zil/tmteth/

Keep us posted on how you are getting on.
There aren't too many things one can mine profitably nowadays, I had kinda written off ETH a while ago. Well, at 16cts/KWh anyway...

Kinda torn on what to do with hardware currently. Thinking I should sell my RX 570s are they are basically not making any money at all. Have already pretty much repurposed/dismantled my Polaris rigs. Question is, what should I buy now, if at all. I might get a very good deal on power for a few rigs, I'll have to choose my hardware wisely...

[h311m4n]

anyone mining ZIL (Zilica)?

uupool seems to have setup a live pool using Ethash algo to dual mine ZIL and ETH.

I switched my modest farm from ETC to ZIL+ETH at low intensity to save on power and see how this ZIL goes.

Yeah this ZIL is yet another platform project, but hitting nearly 3000 tx/s is quite impressive (apart from TRON)

https://uupool.cn/zil/tmteth/

Keep us posted on how you are getting on.
There aren't too many things one can mine profitably nowadays, I had kinda written off ETH a while ago. Well, at 16cts/KWh anyway...

Kinda torn on what to do with hardware currently. Thinking I should sell my RX 570s are they are basically not making any money at all. Have already pretty much repurposed/dismantled my Polaris rigs. Question is, what should I buy now, if at all. I might get a very good deal on power for a few rigs, I'll have to choose my hardware wisely...

Kinda depends on if your 570s have paid themselves off or not I guess.

I mostly have 470s (4GB and 8GB), that have been running for 3 years now and have long since paid for themselves. I could sell them for 100-150$ I guess nowadays. The new VEGA VII look pretty decent, thing is I don't want to go through the hassle of setting up new GPUs and frankly, if/when I sell some of my gear, I will probably just buy BTC and hodl till the next moon with whatever I get for them.

[ATCkit2]

anyone mining ZIL (Zilica)?

uupool seems to have setup a live pool using Ethash algo to dual mine ZIL and ETH.

I switched my modest farm from ETC to ZIL+ETH at low intensity to save on power and see how this ZIL goes.

Yeah this ZIL is yet another platform project, but hitting nearly 3000 tx/s is quite impressive (apart from TRON)

https://uupool.cn/zil/tmteth/

Keep us posted on how you are getting on.
There aren't too many things one can mine profitably nowadays, I had kinda written off ETH a while ago. Well, at 16cts/KWh anyway...

Kinda torn on what to do with hardware currently. Thinking I should sell my RX 570s are they are basically not making any money at all. Have already pretty much repurposed/dismantled my Polaris rigs. Question is, what should I buy now, if at all. I might get a very good deal on power for a few rigs, I'll have to choose my hardware wisely...

Kinda depends on if your 570s have paid themselves off or not I guess.

I mostly have 470s (4GB and 8GB), that have been running for 3 years now and have long since paid for themselves. I could sell them for 100-150$ I guess nowadays. The new VEGA VII look pretty decent, thing is I don't want to go through the hassle of setting up new GPUs and frankly, if/when I sell some of my gear, I will probably just buy BTC and hodl till the next moon with whatever I get for them.

Am thinking the same way as h311m4n.  However, I did buy a new BTC miner (T15) and sent it to a low cost host site.