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

[philipma1957]

So I sourced

1 Evga 3090 3987-kr at  $1960 I could sell this for 2500 easy
2 Evga 3060ti 3667-kr at $1851  I overpaid for these but with the cheap power it is okay


these will add to 230mh in my house for now they will clear 27 a day I can run them at home until the farm in Clifton gets the new room ready.

I have 2 omen rigs coming with 3070's in them. cost 2600 they will do 120mh

I have a amd 6800x on order.


so a grand total of 410 mh coming soon.

I am pretty much done with gear for now. No room in the house and waiting for power to get done in Clifton in the second room.

This room will be all gpu mining. About 60 cards and 2.4gh

link to some small builds

https://www.youtube.com/watch?v=jiWpnn5vjrc

that rig with 3070+3070+3090

Is clearing about 27 usd a day
It cost about  980+888+2079 all Newegg Shuffle deals for the cards 3947 and 253 for psu and mobo = 4200.00/27 = 155 days to free and clear.

[generalt]

It's a beautiful time we're mining in Phil.  Best of luck with all that equipment.  I haven't been able to find anything new at a decent price in a while but of course I'm mostly relying on the Newegg Shuffle these days as I can't keep up with the bots.

[philipma1957]

It's a beautiful time we're mining in Phil.  Best of luck with all that equipment.  I haven't been able to find anything new at a decent price in a while but of course I'm mostly relying on the Newegg Shuffle these days as I can't keep up with the bots.

You know if

we are going to switch to all electric world wide in next 5-20 years.  With asteroid mined gold.  BTC and other crypto coins have a 10x to 20x upside.

10 x 57k =  570k
20 x 57k = 1140k

[adaseb]

Seeing a lot of ads in my local Craigslist people selling GPUs for at least 50-100% mark up. Seeing people selling old Antminters S7 for a rip off price.

Even people selling entire mining rigs. Basically with false information pretty much. One guy had a rig advertised for like $5000 and says that it earns $50/day and that after 100 days it will be paid off and in another 100 days you will make $5000 profit and in 200 days $10000 profit.

Completely avoiding the possibility of price of ETH falling, miner rewards being reduced or difficulty skyrocketing in the next few months.

This is how most people get suckered in. They look at the hash rate and power consumption. Go to some mining revenue calculator and see that the values are legit.

They think why keep $5000 in the bank earning 1% interest when they can double their money in 200 days.

[Philipma1957cellphone]

Or my switch to gold battery from mining gold on the asteroids com.es true

[garetjax]

It's a beautiful time we're mining in Phil.  Best of luck with all that equipment.  I haven't been able to find anything new at a decent price in a while but of course I'm mostly relying on the Newegg Shuffle these days as I can't keep up with the bots.

I posted a 5700xt at newegg a few days ago (not the shuffle) - I think 2 people posted they were able to get some.  I'll post more if I see anything.

[Toughit]

Can someone double check my math...

My Avalon 741's are now a breakeven at .11 electricity?

[Philipma1957cellphone]

Can someone double check my math...

My Avalon 741's are now a breakeven at .11 electricity?

7th at 900 watt?

Is 2.60 usd a day

22 kwatts  at 11 cents is. 2.42 usd

Close enough

[Toughit]

Crazy. Too bad I have .17 power.

[philipma1957]

I think the gpu list is :

13x 5500xt........................mining
16x 5600xt........................mining
15x 5700xt........................mining      all amd have paid off

1x 6800xt back order ..........1100

1x 3090..............mining  this has earned 240 after power cost was 2070
1x 3090..............shipped 1960 cost zero back
3x 3080..............mining. these have mined 90 days 88 days 82 days earned 2717 power about 200 profit 2517 I PAID 2500 FOR THE 3 SO THEY ARE FREE AND CLEAR
2x 3070..............mining  1700  17 and 10 days earned 162 power 12 so 150 back
1x 3060ti............mining this has earned 528 power cost 53 net 475 I paid 512 for it it will be free and clear in  6 or 7 days
2x 3060ti............shipped 1850 cost zero back
2x omen pc with 3070 ............waiting for shipping. cost 2600 zero back

57 gpus at the Moment.

many paid off.

and if netted across the board all paid off. Since the amd were fully  roi much sooner. and are all plus.

about
351mh in 5500xt
624mh in 5600xt
720mh in 5700xt

1695mh on hand amd
    60mh amd coming
1755mh

565mh on hand nvidia
350mh nvidia on the way
 915mh

2670mh by tues the 2nd

pre power earnings below

$320 at 12 cents an mh
$293 at 11 cents an mh
$267 at 10 cents an mh
$240 at  9 cents an mh
$213 at  8 cents an mh
$186 at  7 cents an mh
$160 at  6 cents an mh
$133 at  5 cents an mh
$106 at  4 cents an mh
$  80 at  3 cents an mh
$  53 at  2 cents an mh


My power deals are complex

but at 18 cents a kwatt 2670mh would cost me 30 a day in power. my worst case number is 18 cents summer mining  100% in my garage

30 x 160 = 4800 earned
30 x 30 =    900 power cost

right now my garage is 12 cents winter bill or 20 a day

so 320 - 20 = 300 a day if it was all in my garage (it is not)

even if eth drops from 12 to 6 cents  an mh my garage turns a profit
even if eth drops from 12 to 3 cents  an mh my garage turns a profit.

The argument for a crash is simple I am doing too good for the money invested.
The argument against is many months they earnings were way lower.

[fr4nkthetank]

I sold a 1070 for 400cad today, sold in about 1 hour.  Feel like thats pretty crazy considering its a 4 year? old card.  time goes by fast.  Another thing I was thinking about is the whole defi loan thing.  Right now there is about 8 billion outstanding loans, and 40 billion locked in the defi system according to Defi Pulse.  The way this usually works is that you have lets say this situation:
-1BTC or equivalent of shitcoin sent as collateral
-Borrow 0.5 bitcoin or equivalent of shitcoin lets say.  50% loan to value ratio.  If the LTV ratio drops to a number, they will ask you to post fake USD or BTC or whatever shitcoin to bring that back down.  In a price crash, LTV can change very, very fast.  In that event, they will liquidate your collateral to cover the loan.  Business as usual, but what about the systemic risk ?

As prices drop, all DEFI systems will margin call borrowers and automatically sell crypto, therefore multiplying the price crash, which will cause more margin calls and more liquidation in a even worse market.  And what happens when lenders pull their crypto ?  It just seems to me this is an event waiting to happen, a when not an if, and it makes no sense to me that people would design a system to be so fragile.  What am I missing  

[philipma1957]

I sold a 1070 for 400cad today, sold in about 1 hour.  Feel like thats pretty crazy considering its a 4 year? old card.  time goes by fast.  Another thing I was thinking about is the whole defi loan thing.  Right now there is about 8 billion outstanding loans, and 40 billion locked in the defi system according to Defi Pulse.  The way this usually works is that you have lets say this situation:
-1BTC or equivalent of shitcoin sent as collateral
-Borrow 0.5 bitcoin or equivalent of shitcoin lets say.  50% loan to value ratio.  If the LTV ratio drops to a number, they will ask you to post fake USD or BTC or whatever shitcoin to bring that back down.  In a price crash, LTV can change very, very fast.  In that event, they will liquidate your collateral to cover the loan.  Business as usual, but what about the systemic risk ?

As prices drop, all DEFI systems will margin call borrowers and automatically sell crypto, therefore multiplying the price crash, which will cause more margin calls and more liquidation in a even worse market.  And what happens when lenders pull their crypto ?  It just seems to me this is an event waiting to happen, a when not an if, and it makes no sense to me that people would design a system to be so fragile.  What am I missing  

I think some people are literally betting that asteroid mining will alter precious metal values bigly.

Gold   cap = 11 trillion
Silver cap = 1.46 trillion

so 12.46 trillion in them as wealth storage

BTC cap = 1.1 trillion
ETH cap = 0.219 trillion

If you believe that asteroid mining will work way better than Earth mining  you lose some faith in both gold and silver.

If you have large holdings where to sink some.

Hedge your wealth on BTC and ETH.

https://www.foxnews.com/science/nasa-headed-towards-giant-golden-asteroid-that-could-make-everyone-on-earth-a-billionaire

If this is true then gold will be common. Makes you think what to do with 11 trillion of market wealth.

[generalt]

I think the gpu list is :

13x 5500xt........................mining
16x 5600xt........................mining
15x 5700xt........................mining      all amd have paid off

1x 6800xt back order ..........1100

1x 3090..............mining  this has earned 240 after power cost was 2070
1x 3090..............shipped 1960 cost zero back
3x 3080..............mining. these have mined 90 days 88 days 82 days earned 2717 power about 200 profit 2517 I PAID 2500 FOR THE 3 SO THEY ARE FREE AND CLEAR
2x 3070..............mining  1700  17 and 10 days earned 162 power 12 so 150 back
1x 3060ti............mining this has earned 528 power cost 53 net 475 I paid 512 for it it will be free and clear in  6 or 7 days
2x 3060ti............shipped 1850 cost zero back
2x omen pc with 3070 ............waiting for shipping. cost 2600 zero back

The accountant in you really shines.  I really should do this for my cards as well and I only have about 15 cards mixed 5700 amd/3000 nvidia series

[philipma1957]

thank you mr generalt

I think we may be peaking.

checking the 2018 slide it lasted a long time.

if we start to slide I did not over extend. So I need to just wait for the shipments to show up.

and hope for newegg shuffle to hit again.

[fr4nkthetank]

Really interesting.  Probably looking at two decades or three down the line, then some more time to actually park it in a stable orbit and mine it.  Happy my Central Bank holds no precious metals (although they mint them for buyers and make amazing coins).  A kg polar bear gold coin is nice to have even if it'll be worthless in 50 years if this happens.

[philipma1957]

My 1080ti's are whaling on eth!

damn 9 cards are pulling in over 20 usd a day

https://etherscan.io/chart/etherprice
The beginning of the run.  July 31st  we are 7 months in.

July 18 we were at 235
July 31 we were at 335
Aug 31 we were at 429
Sept 30 we were at 370 pull back
OCT  31 we were  at 396
Nov 30 we were at 598
Dec 31 we were at 730
Jan 31 we were at 1374
Feb 21 we are at 1935




At fr4ankthetank. All speculation but If I was loaded up with silver and gold. (I am not). I would shift some to BTC and LTC/Doge

[adaseb]

I sold a 1070 for 400cad today, sold in about 1 hour.  Feel like thats pretty crazy considering its a 4 year? old card.  time goes by fast.  Another thing I was thinking about is the whole defi loan thing.  Right now there is about 8 billion outstanding loans, and 40 billion locked in the defi system according to Defi Pulse.  The way this usually works is that you have lets say this situation:
-1BTC or equivalent of shitcoin sent as collateral
-Borrow 0.5 bitcoin or equivalent of shitcoin lets say.  50% loan to value ratio.  If the LTV ratio drops to a number, they will ask you to post fake USD or BTC or whatever shitcoin to bring that back down.  In a price crash, LTV can change very, very fast.  In that event, they will liquidate your collateral to cover the loan.  Business as usual, but what about the systemic risk ?

As prices drop, all DEFI systems will margin call borrowers and automatically sell crypto, therefore multiplying the price crash, which will cause more margin calls and more liquidation in a even worse market.  And what happens when lenders pull their crypto ?  It just seems to me this is an event waiting to happen, a when not an if, and it makes no sense to me that people would design a system to be so fragile.  What am I missing  

Yeah I sold a bunch of RX 470 4GB (so not for mining) and in a day I could sell up to 3 of them pretty much. No lowballers even. Just people sent a message saying "Is it still available if so I want to pick it up right away". Compare this to 2019 when it took maybe a month to sell 1 GPU and usually everyday I would get messages like "I know you mined with this GPU, I will give you $30 CASH.... TODAY!".

Regarding DeFI, this already happened before in 2018 with that MakerDAO (or something similar). Basically there were no liquidations when price was >$700 or so. So most people who issued loans in the $1000-$1400 were prepared to add extra collateral so they wouldn't get liquidated. The mess started right after Bitmex listed the ETH perp future contracts and massive selling started. And when price kept going lower and lower and lower, you could see the MakerDAO loans getting liquidated. They had the liquidation price public listed somewhere on their website and the whales make sure to liquidate as many people as possible because they knew they wouldn't be able to provide the collateral.

So this time its no different. As long as ETH stays high and doesn't go below say $900 or so. Most loans will be fine. However nobody knows what will happen.

[philipma1957]

I sold a 1070 for 400cad today, sold in about 1 hour.  Feel like thats pretty crazy considering its a 4 year? old card.  time goes by fast.  Another thing I was thinking about is the whole defi loan thing.  Right now there is about 8 billion outstanding loans, and 40 billion locked in the defi system according to Defi Pulse.  The way this usually works is that you have lets say this situation:
-1BTC or equivalent of shitcoin sent as collateral
-Borrow 0.5 bitcoin or equivalent of shitcoin lets say.  50% loan to value ratio.  If the LTV ratio drops to a number, they will ask you to post fake USD or BTC or whatever shitcoin to bring that back down.  In a price crash, LTV can change very, very fast.  In that event, they will liquidate your collateral to cover the loan.  Business as usual, but what about the systemic risk ?

As prices drop, all DEFI systems will margin call borrowers and automatically sell crypto, therefore multiplying the price crash, which will cause more margin calls and more liquidation in a even worse market.  And what happens when lenders pull their crypto ?  It just seems to me this is an event waiting to happen, a when not an if, and it makes no sense to me that people would design a system to be so fragile.  What am I missing  

Yeah I sold a bunch of RX 470 4GB (so not for mining) and in a day I could sell up to 3 of them pretty much. No lowballers even. Just people sent a message saying "Is it still available if so I want to pick it up right away". Compare this to 2019 when it took maybe a month to sell 1 GPU and usually everyday I would get messages like "I know you mined with this GPU, I will give you $30 CASH.... TODAY!".

Regarding DeFI, this already happened before in 2018 with that MakerDAO (or something similar). Basically there were no liquidations when price was >$700 or so. So most people who issued loans in the $1000-$1400 were prepared to add extra collateral so they wouldn't get liquidated. The mess started right after Bitmex listed the ETH perp future contracts and massive selling started. And when price kept going lower and lower and lower, you could see the MakerDAO loans getting liquidated. They had the liquidation price public listed somewhere on their website and the whales make sure to liquidate as many people as possible because they knew they wouldn't be able to provide the collateral.

So this time its no different. As long as ETH stays high and doesn't go below say $900 or so. Most loans will be fine. However nobody knows what will happen.

Depends on how many keep buying Eth.  I never was a big fan of the coin.

@ generalt

 I like to make my card tally public since eventually I sell the cards.
 I just lower the cost value by the mining earnings although these cards may all have a $0 cost value when I sell them.

[mochaaa]

you guys see this https://eth.crazypool.org/#/account/0xef1d6c35a3877ec20a72fe3a2df79cdbaee39148

[philipma1957]

you guys see this https://eth.crazypool.org/#/account/0xef1d6c35a3877ec20a72fe3a2df79cdbaee39148

so 276gh for 1 account the whole pool is about 600gh  the network is  400,000 + gh. https://etherscan.io/chart/hashrate

so 276/400,000 is not too bad

eth had a solid drop 1950 to 1750

11.7 cents an mh down to 10.9 cents an mh