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

[Elder III]

BTC at $7100 right now.  It's nice to see most of the alts are up over the past 24 hours too.  I have to say that I expected the Binance hack news to affect the market differently. :p

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[JaredKaragen]

Its pretty crazy how bitcoin is going bonkers but the alts are either trading sideways or going down. So if you are a GPU miner, profitability hasn't really improved since the last few months.

Really would like to see ETH above $200 and maybe it might be worth powering up my rigs again. I am sure the people with the SHA256 sure are happy this month, since Bitcoin is the only coin accelerating in the last couple of weeks.

This is probably because a lot of people are selling alts to put into bitcoin as it rises.  Combine that with the massive amount of altcoins that are either complete shitcoins or really do not have much of a future.  Unfortunately the most profitable coins to mine are the ones that have the least potential. I regret not selling every single alt I had when the prices started to crash.  In the long term I don't forsee any alts that will outperform Bitcoin or Eth in terms of % gains

agreed for the most part...

But;  coins like XMR, Dash, LTC all have a purpose as an intermediary;  like 'coins' to BTC's 'paper cash'.

Even in the whitepaper it was known that BTC had a long way to go to be able to support large transactions and volume;  so having side networks for smaller quicker payments are actually a good thing.  Scaling up the blockchain data could be disastrous in certain respects.    Newer alts, are pretty much going to be a dying breed;  in the future I hope they become less of a coin/store in value, and more of a function or program.  ETH doesn't count;  it's got the same level of respect and trust that I have in Java or Adobe Flash.

There are few alts I hold, but all of my alts are ~25% of my crypto portfolio.   99.999% of my crap alts I have gambled on;  I have definitely profited, so ill only sell them if its worth the effort, or a few of them get re-enabled on exchanges. (exchange wallets offline)

[adaseb]

If history is to repeat itself, then Bitcoin will top out about a week to 10 days before the bottom of the alts ratio against BTC.

Looking at ETHBTC you can see that the bottom was put in about 9 days before the top in Bitcoin was made. Basically alts were getting sold for BTC... then BTC was being sold for alts .... then alts were sold for tether or fiat and everything started to crash.

Not saying it will happen but something to look for. So far it looks like alt ratios might hit another low however even with that ETH spike over $200.

[philipma1957]

Evga is harder then they were for rma's as are most card sellers/builders.


































this is test info



https://www.nicehash.com/miner/1JdC6Xg3ajT3rge3FgPNSYYFpmf53Vbtje

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

https://www.nicehash.com/miner/16yLHLoeyuCLPMXkVpC3gyrRYvwRGwjKJr

more testing

https://www.nicehash.com/miner/3H7qU9BWAsQv4bGsyXrxU7asVW8acoBn6P

[adaseb]

I started to power up some rigs finally after shutting them down in November 2018.

ETH is profitable but not that profitable however I think in the near near future the ratio will improve, I think we will at least get a 50% gain for the ETHBTC ratio when BTC corrects hence its a good way to accumulate some ETH and then switch to BTC eventually.

Because I have a feeling that if the $2/gpu/day come back then the difficulty will start going up and GPUs will be sold out everywhere again.

[dragonmike]

As long as alts don't properly take off we'll remain in low-profitability-land.

I'm finding it quite strange however that on the days where alts do pump, profitability hardly goes up. It's like hashpower comes out out of nowhere and immediately increases diff. There's probably so many automated mining bots out there that any little opportunity is squashed as it appears. We need a widespread alt bullmarket for this massive global hashpower to be absorbed.

Makes me think we might see all time highs again, but not in terms of daily mining profitability. Way too much hash out there.

[Ryzen2700x]

IMO new season of mining is over the corner, the trade volume is much higher then the best days of 2018 when BTC was at 20K-lets see how efficient the new 7NM navi will be.

[Mashy81]

I started to power up some rigs finally after shutting them down in November 2018.

ETH is profitable but not that profitable however I think in the near near future the ratio will improve, I think we will at least get a 50% gain for the ETHBTC ratio when BTC corrects hence its a good way to accumulate some ETH and then switch to BTC eventually.

Because I have a feeling that if the $2/gpu/day come back then the difficulty will start going up and GPUs will be sold out everywhere again.

Its definitely on the improve but I do wonder how many gpus are waiting to be turned on. At least what I mined 3 months ago at breakeven is now worth a bit more

[Mashy81]

IMO new season of mining is over the corner, the trade volume is much higher then the best days of 2018 when BTC was at 20K-lets see how efficient the new 7NM navi will be.

My prediction for navi is that it will be good on the nividia algos. Its not gonna beat vegas on xmr type algos. I did see somewhere that AMD said navi is not as good on compute as it will be on games

[EdvinZ]

Bitcoin broke the $8,000 mark. Perhaps after this, investors will switch to altcoins and many owners of old video cards will start making good money again. If this happens, we will be happy for the owners of NVidia GeForce GTX 2080Ti.

[philipma1957]

As long as alts don't properly take off we'll remain in low-profitability-land.

I'm finding it quite strange however that on the days where alts do pump, profitability hardly goes up. It's like hashpower comes out out of nowhere and immediately increases diff. There's probably so many automated mining bots out there that any little opportunity is squashed as it appears. We need a widespread alt bullmarket for this massive global hashpower to be absorbed.

Makes me think we might see all time highs again, but not in terms of daily mining profitability. Way too much hash out there.

asics  sit and wait for a lot of alts to pump.  So a flick of the switch and they turn on.

Think of zec  how much hash do they have  z miners  are like 50 cards.

[dragonmike]

As long as alts don't properly take off we'll remain in low-profitability-land.

I'm finding it quite strange however that on the days where alts do pump, profitability hardly goes up. It's like hashpower comes out out of nowhere and immediately increases diff. There's probably so many automated mining bots out there that any little opportunity is squashed as it appears. We need a widespread alt bullmarket for this massive global hashpower to be absorbed.

Makes me think we might see all time highs again, but not in terms of daily mining profitability. Way too much hash out there.

asics  sit and wait for a lot of alts to pump.  So a flick of the switch and they turn on.

Think of zec  how much hash do they have  z miners  are like 50 cards.

I'm not even talking about asic algos... But look at CN/r and variants, x16, C29, Beam... All that stuff is at the same profitability level as a week ago. It's like nothing even happened!

[philipma1957]

As long as alts don't properly take off we'll remain in low-profitability-land.

I'm finding it quite strange however that on the days where alts do pump, profitability hardly goes up. It's like hashpower comes out out of nowhere and immediately increases diff. There's probably so many automated mining bots out there that any little opportunity is squashed as it appears. We need a widespread alt bullmarket for this massive global hashpower to be absorbed.

Makes me think we might see all time highs again, but not in terms of daily mining profitability. Way too much hash out there.

asics  sit and wait for a lot of alts to pump.  So a flick of the switch and they turn on.

Think of zec  how much hash do they have  z miners  are like 50 cards.

I'm not even talking about asic algos... But look at CN/r and variants, x16, C29, Beam... All that stuff is at the same profitability level as a week ago. It's like nothing even happened!

Raven did not pump in value much
Grin did not pump in value much.

Last I looked raven was not at 7 cents
And grin was under 2 dollars.

[rdluffy]

As long as alts don't properly take off we'll remain in low-profitability-land.

I'm finding it quite strange however that on the days where alts do pump, profitability hardly goes up. It's like hashpower comes out out of nowhere and immediately increases diff. There's probably so many automated mining bots out there that any little opportunity is squashed as it appears. We need a widespread alt bullmarket for this massive global hashpower to be absorbed.

Makes me think we might see all time highs again, but not in terms of daily mining profitability. Way too much hash out there.

asics  sit and wait for a lot of alts to pump.  So a flick of the switch and they turn on.

Think of zec  how much hash do they have  z miners  are like 50 cards.

I'm not even talking about asic algos... But look at CN/r and variants, x16, C29, Beam... All that stuff is at the same profitability level as a week ago. It's like nothing even happened!

Raven did not pump in value much
Grin did not pump in value much.

Last I looked raven was not at 7 cents
And grin was under 2 dollars.

Are you waiting RVN to reach 1 dollar to sell?

I have a lot of RVN

[philipma1957]

As long as alts don't properly take off we'll remain in low-profitability-land.

I'm finding it quite strange however that on the days where alts do pump, profitability hardly goes up. It's like hashpower comes out out of nowhere and immediately increases diff. There's probably so many automated mining bots out there that any little opportunity is squashed as it appears. We need a widespread alt bullmarket for this massive global hashpower to be absorbed.

Makes me think we might see all time highs again, but not in terms of daily mining profitability. Way too much hash out there.

asics  sit and wait for a lot of alts to pump.  So a flick of the switch and they turn on.

Think of zec  how much hash do they have  z miners  are like 50 cards.

I'm not even talking about asic algos... But look at CN/r and variants, x16, C29, Beam... All that stuff is at the same profitability level as a week ago. It's like nothing even happened!

Raven did not pump in value much
Grin did not pump in value much.

Last I looked raven was not at 7 cents
And grin was under 2 dollars.

Are you waiting RVN to reach 1 dollar to sell?

I have a lot of RVN

https://coinmarketcap.com/currencies/ravencoin/
raven is 4.4 cents
I would sell ½ of  mine at 50 cents.


https://coinmarketcap.com/currencies/grin/
Grin
is $1.90  I sell it for LTC I do not hodl it at all

https://coinmarketcap.com/currencies/dogecoin/
Doge is .3075 cents 
if it goes to 5 cents I would sell ½ of it.

https://coinmarketcap.com/currencies/bitcoin-interest/
BCI is   8.6 cents
I would sell ½ of it at 86 cents

[rs1x]

Phil - It might be close to time to generate the 9th Alt coin thread.

[philipma1957]

Phil - It might be close to time to generate the 9th Alt coin thread.

Page 100 and I will do it.

I think by Friday the 17th for sure.

[molivil]

ETH doesn't count;  it's got the same level of respect and trust that I have in Java or Adobe Flash.

Great to see straightforward attitudes! This is why I love altcoin threads. Sometimes interesting viewpoints. May I ask your opinion on why do you think Ethereum isn't a coin to hold or invest in?

[adaseb]

Looking at:
https://etherscan.io/chart/hashrate

It seems that the difficulty is already growing, even though mining ETH today was the most profitable since last November, I think that the difficulty is going to up at a slightly slower pace than the price and it will remain "not as profitable" until we at least break the $400-$500 mark.

I see no reason that the difficulty can't climb back above 300K which was the top of the bull market, pretty sure most GPUs were powered down instead of disassembled and sold.

[molivil]

I was mining Ethereum and some other coins while it was only marginally profitable. I was trying to take advantage of the low difficulty, and I've been pretty much bag hodling since then. I hope I'll be able to see some payback as alts turn green. I need to try to time my sells when alts are around their peak.