Number 9! Ninth altcoin thread. Back to the moon Baby!

[ATCkit2]

If you had a friend/relative that had never mined anything before and wanted to learn --- would you have them start with a Crap CPU on their desktop (not a gamer, so no GPU of any merit available), buy a GPU to mine with, or buy an asic to mine with?  

*** In this individual's case an asic is likely the best long term option due to their power costs, location, time, etc...***

Your statements somewhat conflict.  Wanting to learn is at odds with buying an ASIC for convenience.  I don't think anyone would really recommend buying hardware just for mining in this economy, but if we are talking about strictly something to learn with, then any 4+ core processor (new enough to have aes-ni) and GTX 1050 ti or better.  That should be enough to mine any coin in existence.  As for asics, generally there isn't much learning involved, unless you are troubleshooting hardware problems or have a large installation.  At this point in time I don't think any are worth buying for long term use unless its a sha-256.  My 2 cents  

The ltc Apollo is 300
The btc r606 is 300

A brick is available. A miner can do solo mining or mine at various pools.

I own two Apollo’s and 1 R606 I mine them solo and it is simply to support the builders of the gear.

Although if I hit a block with either on it would pay for all three of them.

Odds are I will not hit a btc block in my lifetime.

But I could hit a ltc block.

I should have phrased it differently.  This is someone with very large amounts of free power and would like to make some money.  I don't think their interested in learning about mining just to learn (or geek out like some of us here ...)  

My thought is that they should learn the basics of crypto (from mining to exchanges) before spending a bunch on hardware of any sort.  I am not well versed in asics, so I feel ill qualified to tell them to buy some if I have no experience with them specifically.  On the other hand, while I do know CPU and GPU mining well I don't think it's worth them buying a GPU just to mine with if they won't be using it for gaming or workstation purposes later on.

They are 2 states away from me too, so I can't really assist them directly if they run into trouble.  

How "noob proof" are the Antiminer series?

They're fairly "noob proof". If I were him, I'd try to get some S9s here:

https://www.scottofford.com/used-miners-for-sale/

Also, he could buy a few for $180 incl PSU from this link:

https://bitcointalk.org/index.php?topic=5121543.msg50198703#msg50198703

Of course, he would have to have them shipped to him...or he could keep them at Cryptoboreas. They're a good host site and have a low fee. I have a few rigs there and am happy with their service. That's about the easiest way for your friend to go "noob proof" without spending a fortune.

[philipma1957]

large amounts of free power calls for setting something up.

S-9's are cheap  even if 10% of the gear breaks you have good margins.

1x  30 amp 240 volt circuit can run 4 s9's safely pulling  about 24 amps


so a 200 amp panel  can have 7x  30 amp circuits

about 28 s9's

[adaseb]

Looking at the ETH hashrate charts,
https://etherscan.io/chart/hashrate

It seems we got an +15% in hashpower from the average hashrate of Q1 2019. And at the same time the price went up ~100% or so. So it looks like the hash power is slowly increasing since its becoming more and more profitable to mine.

I think its still early and maybe some old GPU miners from 2018 haven't noticed the increase in profitability and they haven't powered up their rig. So even with a constant price of $260, I predict the difficulty will still keep going up from here.

Basically its pretty profitable with 0.10c KwH power and with an old GPU like the RX GPU.

[dragonmike]

Basically its pretty profitable with 0.10c KwH power and with an old GPU like the RX GPU.

Yes, and not much more. At 16c/KWh I just didn't bother anymore. Powering my two old rigs of RX570 was just not worth it (1700W for what... $1/day profit at most?). Decided to get rid of the old things and swap them for a couple of newer, efficient cards (RTX 2060). They actually make just as much.

[philipma1957]

Basically its pretty profitable with 0.10c KwH power and with an old GPU like the RX GPU.

Yes, and not much more. At 16c/KWh I just didn't bother anymore. Powering my two old rigs of RX570 was just not worth it (1700W for what... $1/day profit at most?). Decided to get rid of the old things and swap them for a couple of newer, efficient cards (RTX 2060). They actually make just as much.

Yeah  my garage is 10 cents in winter  if you count the heat benefit and 19 cents in the summer if you count added cooling and summer power prices.

My days of heavy garage mining are done.

I am mining an xmr rig


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

It is earning about 3-4 a day before power and about  2.50 in power cost.  so a profit of 50 cents to 1.50

[adaseb]

Basically its pretty profitable with 0.10c KwH power and with an old GPU like the RX GPU.

Yes, and not much more. At 16c/KWh I just didn't bother anymore. Powering my two old rigs of RX570 was just not worth it (1700W for what... $1/day profit at most?). Decided to get rid of the old things and swap them for a couple of newer, efficient cards (RTX 2060). They actually make just as much.

Yeah  my garage is 10 cents in winter  if you count the heat benefit and 19 cents in the summer if you count added cooling and summer power prices.

My days of heavy garage mining are done.

I am mining an xmr rig


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

It is earning about 3-4 a day before power and about  2.50 in power cost.  so a profit of 50 cents to 1.50

Which GPU is this? With the RX currently ETH is most profitable even though XMR uses less power. Using the What to mine calculator it looks like XMR is 33% less profitable, I am guessing that there is already some FGPA mining that coin again.

Most I can get is like 950Hs using 105 Watts and with ETH I get 28.5mhs using 120 watts so at the moment ETH seems like the obvious choice.

[philipma1957]

that rig is 4 vega 56's and a threadripper 1920x

[Elder III]

If you had a friend/relative that had never mined anything before and wanted to learn --- would you have them start with a Crap CPU on their desktop (not a gamer, so no GPU of any merit available), buy a GPU to mine with, or buy an asic to mine with?  

*** In this individual's case an asic is likely the best long term option due to their power costs, location, time, etc...***

Your statements somewhat conflict.  Wanting to learn is at odds with buying an ASIC for convenience.  I don't think anyone would really recommend buying hardware just for mining in this economy, but if we are talking about strictly something to learn with, then any 4+ core processor (new enough to have aes-ni) and GTX 1050 ti or better.  That should be enough to mine any coin in existence.  As for asics, generally there isn't much learning involved, unless you are troubleshooting hardware problems or have a large installation.  At this point in time I don't think any are worth buying for long term use unless its a sha-256.  My 2 cents  

The ltc Apollo is 300
The btc r606 is 300

A brick is available. A miner can do solo mining or mine at various pools.

I own two Apollo’s and 1 R606 I mine them solo and it is simply to support the builders of the gear.

Although if I hit a block with either on it would pay for all three of them.

Odds are I will not hit a btc block in my lifetime.

But I could hit a ltc block.

I should have phrased it differently.  This is someone with very large amounts of free power and would like to make some money.  I don't think their interested in learning about mining just to learn (or geek out like some of us here ...)  

My thought is that they should learn the basics of crypto (from mining to exchanges) before spending a bunch on hardware of any sort.  I am not well versed in asics, so I feel ill qualified to tell them to buy some if I have no experience with them specifically.  On the other hand, while I do know CPU and GPU mining well I don't think it's worth them buying a GPU just to mine with if they won't be using it for gaming or workstation purposes later on.

They are 2 states away from me too, so I can't really assist them directly if they run into trouble.  

How "noob proof" are the Antiminer series?

Ask them to sell you power at 2 cents  

How does someone even get their hands on large amounts of free power, assuming they don't generate it?

Yeah I would cut a deal with him for 4.5 cents a kwatt.  I can profit with that number.

What state is he in and how much power does he have?

This is from the owner of a small company that owns and operates oil and natural gas wells (mostly in OH).  Some of their oil wells are in remote locations that do not have a pipeline nearby to get the natural gas to a market.  Putting in a new pipeline costs millions of $ and requires all sorts of legal hassle that could take years.  So that natural gas just gets vented off into the air and is wasted.  They would like to convert that to something profitable rather then wasting it completely.

I was told that they estimate being able to generate at least 100,000 kwh at a site - I do not know how many of the sites could produce that same amount.  A 100,000 kwh prime power natural gas generator will likely run $30,000 plus installation etc...  There would be additional costs for shelter, setup, and internet of course, but I don't expect that it would be too significant overall.

The biggest hurdles in my mind are: #1 They have no experience with mining.  & #2 Depending on the exact location, Internet options might be limited.

[DrG]

I sold off my entire farm last year except for 1 rig and I'm mining UBIQ.

It's true 1060s can scrape a little money off ETH even at 10 cents but you have to consider that 1060 3gb cards are being sold on eBay for $70 when they were going for $150-$200 last year at this time. I took the proceeds from liquidating my rigs and bought ETH at $7x during the dip.

So I faired a lot better by getting out and if I want to get back in I can liquidate the ETH and buy 2060s to mine with but they seem meh at this point.

[adaseb]

I sold off my entire farm last year except for 1 rig and I'm mining UBIQ.

It's true 1060s can scrape a little money off ETH even at 10 cents but you have to consider that 1060 3gb cards are being sold on eBay for $70 when they were going for $150-$200 last year at this time. I took the proceeds from liquidating my rigs and bought ETH at $7x during the dip.

So I faired a lot better by getting out and if I want to get back in I can liquidate the ETH and buy 2060s to mine with but they seem meh at this point.

The 1060 3GB tanked the most out of all the second hand GPU market because around the time that the Crypto markets were crashing and profitability was going down, they could no longer mine ETH due to the DAG being too large to fit in the 3GB of GDDR.

Also how did you buy ETH at the $70's range when the lowest price it ever hit on most exchanges was around $80.50 or so. Last time it was $70 was actually exactly 2 years ago in May 2017.

[soothaa]

Replying to sub

[cokewithanr]

Phil,

I was thinking about picking up a 606 and a batch 2 Apollo to run the same way that you are running them. Is there a pool like CK's for Litecoin?

On the GPU side I shut down the single 7 card EVGA 1060 6G rig I built back in April 2018 when I moved from working in TX to NC. I gave 2 cards each to both of my son's for gaming and still have 3, but never run them anymore.

I did set up again in NC with 10 L3+( I just sold all these a week to soon.. ) and some Z9 mini's and a Z9, but at the moment I am switching locations with work again so will be shutting those down in a few more weeks.

What would You do in this situation:

(1) Sell everything before moving and set up with new gear when settled?

(2) Keep it and set it back up when settled?

(3) Sell and reinvest in favorite coin?

and still holding a little of BTC, LTC, XMR, DGB, DOGE, and Zcash.

-Keith

[garetjax]

Phil,

Love your thread - very helpful.  I've been following this one and your solar work - I"m in Arizona and thinking about maybe doing something small.  However, I only have experience with building GPU rigs, no experience with ASICS and BTC mining.  Thinking of starting with some ASICS indoors to learn with before potentially tinkering with solar panels etc.  My electricity cost is super cheap for US ie like 6.2 cents.

Do you have any suggestions /tips on what getting started with ASICS.  One of my garages has 220, I had my mining rigs in there until about May but then its too hot and they get moved into the house.   How are ASICS with extreme heat?

Thanks - Mike

S9's can run in a 100f room  but Arizona is hot here in NJ  100 f may not happen entire summer.

MY suggestion is an S9 running braiins software.

you can clock at 815 watts and do about 10th.

pretty efficient and not too loud

 an s-9  doing 10th earns 0.0003919 btc a day on viabtc.  that is $2.75   a day 815 x 24 = close to 20 kwatts a day so

6 cents = 1.20 power cost of 1.55 profit  193 day payoff
7 cents = 1.40 power cost or 1.35 profit  222 day payoff
8 cents = 1.60 power cost or 1.15 profit  260 day payoff

if you buy a 300 dollar s9 with a psu  you pay off in about 6-8 months.

you can run at  13 th and 1250 watts but more noise   you would pay off in a little less time.
it earns 3.57 a day at 13th
6 cents = 1.80   1.77 a day profit   168 day payoff
7 cents = 2.10   1.47 a day profit    204 day payoff
8 cents = 2.40    1.17 a day profit   256 day payoff

Thanks for this Phil! 

[philipma1957]

Phil,

I was thinking about picking up a 606 and a batch 2 Apollo to run the same way that you are running them. Is there a pool like CK's for Litecoin?

On the GPU side I shut down the single 7 card EVGA 1060 6G rig I built back in April 2018 when I moved from working in TX to NC. I gave 2 cards each to both of my son's for gaming and still have 3, but never run them anymore.

I did set up again in NC with 10 L3+( I just sold all these a week to soon.. ) and some Z9 mini's and a Z9, but at the moment I am switching locations with work again so will be shutting those down in a few more weeks.

What would You do in this situation:

(1) Sell everything before moving and set up with new gear when settled?

(2) Keep it and set it back up when settled?

(3) Sell and reinvest in favorite coin?

and still holding a little of BTC, LTC, XMR, DGB, DOGE, and Zcash.

-Keith

here is the ltc pool

http://ltc.tbdice.org/index.htm


here is my

info on that pool

  url          http://tbdice.org:13333

 user         LMFrNLw2nxYXGxwQTJsA9xRXkcHmon6smN

password   diff_512:DRBTagQosBknh8ERbueWqBYmUCnKmPR3xR


   note password is diff setting and doge coin mining I have hit 2 solo doge blocks

[DrG]

I sold off my entire farm last year except for 1 rig and I'm mining UBIQ.

It's true 1060s can scrape a little money off ETH even at 10 cents but you have to consider that 1060 3gb cards are being sold on eBay for $70 when they were going for $150-$200 last year at this time. I took the proceeds from liquidating my rigs and bought ETH at $7x during the dip.

So I faired a lot better by getting out and if I want to get back in I can liquidate the ETH and buy 2060s to mine with but they seem meh at this point.

The 1060 3GB tanked the most out of all the second hand GPU market because around the time that the Crypto markets were crashing and profitability was going down, they could no longer mine ETH due to the DAG being too large to fit in the 3GB of GDDR.

Also how did you buy ETH at the $70's range when the lowest price it ever hit on most exchanges was around $80.50 or so. Last time it was $70 was actually exactly 2 years ago in May 2017.

Yeah that 3GB card tanked the most. Even the RX faired better because they can still mine eth presently.

I had a standing buy order at Polo for $78.51 I believe and it went through, I have to log in and check the exact date. I'm so hands off now though because I tend to make more mistakes the more I micro manage things. I do much better with set it and forget it orders than I return to 6 or 12 months later. I stopped using Polo though so I don't even remember my logon credentials lol.

[adaseb]

I sold off my entire farm last year except for 1 rig and I'm mining UBIQ.

It's true 1060s can scrape a little money off ETH even at 10 cents but you have to consider that 1060 3gb cards are being sold on eBay for $70 when they were going for $150-$200 last year at this time. I took the proceeds from liquidating my rigs and bought ETH at $7x during the dip.

So I faired a lot better by getting out and if I want to get back in I can liquidate the ETH and buy 2060s to mine with but they seem meh at this point.

The 1060 3GB tanked the most out of all the second hand GPU market because around the time that the Crypto markets were crashing and profitability was going down, they could no longer mine ETH due to the DAG being too large to fit in the 3GB of GDDR.

Also how did you buy ETH at the $70's range when the lowest price it ever hit on most exchanges was around $80.50 or so. Last time it was $70 was actually exactly 2 years ago in May 2017.

Yeah that 3GB card tanked the most. Even the RX faired better because they can still mine eth presently.

I had a standing buy order at Polo for $78.51 I believe and it went through, I have to log in and check the exact date. I'm so hands off now though because I tend to make more mistakes the more I micro manage things. I do much better with set it and forget it orders than I return to 6 or 12 months later. I stopped using Polo though so I don't even remember my logon credentials lol.

I checked Poloniex's market for ETHUSDT, and it looks like the low was $82, maybe Tradingview has incorrect data, especially if there was some quick wick that wasn't registered.

I've also sold some old R9 280X GPUs and bought small amounts of BTC and ETH during the dips. However after it went lower than $4000 in November, I got scared and stopped buying it because it looked like $2000 or $3000 would come very soon.

Same with ETH, bought some around $100 because was very sure it would hold but it broke and it looked like it would hit either $75 or $50 and wanted to buy more there.

Most don't realise but even though you get excellent deals during bear markets its hard to get over that fear that it can still go lower, which it never did and you missed out.

[DrG]

I sold off my entire farm last year except for 1 rig and I'm mining UBIQ.

It's true 1060s can scrape a little money off ETH even at 10 cents but you have to consider that 1060 3gb cards are being sold on eBay for $70 when they were going for $150-$200 last year at this time. I took the proceeds from liquidating my rigs and bought ETH at $7x during the dip.

So I faired a lot better by getting out and if I want to get back in I can liquidate the ETH and buy 2060s to mine with but they seem meh at this point.

The 1060 3GB tanked the most out of all the second hand GPU market because around the time that the Crypto markets were crashing and profitability was going down, they could no longer mine ETH due to the DAG being too large to fit in the 3GB of GDDR.

Also how did you buy ETH at the $70's range when the lowest price it ever hit on most exchanges was around $80.50 or so. Last time it was $70 was actually exactly 2 years ago in May 2017.

Yeah that 3GB card tanked the most. Even the RX faired better because they can still mine eth presently.

I had a standing buy order at Polo for $78.51 I believe and it went through, I have to log in and check the exact date. I'm so hands off now though because I tend to make more mistakes the more I micro manage things. I do much better with set it and forget it orders than I return to 6 or 12 months later. I stopped using Polo though so I don't even remember my logon credentials lol.

I checked Poloniex's market for ETHUSDT, and it looks like the low was $82, maybe Tradingview has incorrect data, especially if there was some quick wick that wasn't registered.

I've also sold some old R9 280X GPUs and bought small amounts of BTC and ETH during the dips. However after it went lower than $4000 in November, I got scared and stopped buying it because it looked like $2000 or $3000 would come very soon.

Same with ETH, bought some around $100 because was very sure it would hold but it broke and it looked like it would hit either $75 or $50 and wanted to buy more there.

Most don't realise but even though you get excellent deals during bear markets its hard to get over that fear that it can still go lower, which it never did and you missed out.

I get that sentiment, but I've been scared off by BTC since it dropped from 33 to $2 and I stupidly sold at $5. Remind yourself by putting it in writing on paper on your trading binder "hey dummy, ETH at $100 is a great deal". If you felt that way when you picked it up at $100, then it's an even better deal at $80. The thing is people just go all in at once and don't dollar cost average or save reserves. $1000 at $80 buys more than $1000 at $1000. Yeah it's hard to tell the brain that the rollercoaster is going to go back up when your sphincter is puckering but that's why we have rational minds who see it all as manipulation and irrational exubarance.

Only took me 5 years to figure that out haha. But I never sold the BTC I bought at $900 when it was coming down from $1200 back in 2012. I'm still up 8x - better than anything short of Netflix and Amazon.

[dragonmike]

Only took me 5 years to figure that out haha. But I never sold the BTC I bought at $900 when it was coming down from $1200 back in 2012. I'm still up 8x - better than anything short of Netflix and Amazon.

LoL, I had 2.5 BTC purely left over from mining in 2013/14. Then I sold 1 just before the BCH fork (there was a lot of scaremongering and risk involved... which prove to be all BS afterwards) so around $2500. The rest I sold further down the road on the way up... Must've been around $6000 iirc. Still pretty damn good trades when you think of it.

Now I stick to all BTC I produce with my rigs. Well, I'm mining, staking and keeping all the VEIL I can get with my nVidias, but all various proceeds from the Vega rig goes straight to BTC.

[badfad]

https://ethereum-magicians.org/t/progpow-audit-delay-issue/3309

Anyone care about this anymore?

[JaredKaragen]

https://ethereum-magicians.org/t/progpow-audit-delay-issue/3309

Anyone care about this anymore?

My .02c:

Ive never cared about ETH.... too controlled, too manipulable, too much like Java or adobe flash for me to have any trust in its security....


I'm amazed it has gone this far....  Should have died as ETC.