CCminer(SP-MOD) Modded GPU kernels.

[sp_]

FIAT is oldschool

Old is gold sometimes...

When you exchange btc for tether the exchange will sell your btc for usd behind the curtains to hedge. On polo there are no other options because fiat trading is not allowed, and transfer to btc and out of the exchange is slow. (($2000) witdraw limit pr day,$25000 when verified)
Shouldn't be a problem with tether... bitfinex and poloniex are the biggest exchanges..

[sp_]

dump and dump  - the best strategy ever

Where you one of the guys who mined ethereum the first 6 months and dumped it @ $0.60 a coin ? Then you missed a 500x increase.
I think a mix is best.. Keep some and dump some. But spread the risk on more than one coin.

[go6ooo1212]

Missed many trains over the years , but hedged around 20btc in alts recently...

[antantti]

When you exchange btc for tether the exchange will sell your btc for usd behind the curtains to hedge
Shouldn't be a problem with tether... bitfinex and poloniex are the biggest exchanges..

Sounds like Lehman Brothers to me only difference being Bitfinex somehow managed to do something Lehman Brothers couldn't do. Are they too big to fail? Tether = subprime mortgage?

1) BTC doesn't work
2) ETH doesn't work
3) What could this be, big exchange fails?

I am buying back when all this settles down, if I had to guess somewhere in August/ September.

[sp_]

When you exchange btc for tether the exchange will sell your btc for usd behind the curtains to hedge
Shouldn't be a problem with tether... bitfinex and poloniex are the biggest exchanges..

Sounds like Lehman Brothers to me only difference being Bitfinex somehow managed to do something Lehman Brothers couldn't do.

Not similar.

Bitfinex/poloniex is selling for dollars. For every USDT you buy, bitfinex/poloniex sell 1 USD worth of BTC and put it in a bank.
When you exchange the USDT back, bitfinex/poloniex moves the USD out of the bank account and buy bitcoin.

This makes it much easier for the trader to move funds quickly between "fiat" and crypto, because the exchange is doing the job for you. This will also delay the taxation of your profit.

Ex:

You bought $1000 worth of ethereum on poloniex right after launch. Today the value is $500 000. If you move the $500 000 to your Fiat bankaccount, you need to pay tax of the profit.
If you keep the profit it USDT you delay the taxation, and you don't need to worry about the price fluctation of the cryptocoins.

[chup]

Ex:

You bought $1000 worth of ethereum on poloniex right after launch. Today the value is $500 000. If you move the $500 000 to your Fiat bankaccount, you need to pay tax of the profit.
If you keep the profit it USDT you delay the taxation, and you don't need to worry about the price fluctation of the cryptocoins.

...and one sunny day exchange hackers make You totally out of worries...

[antantti]

Bitfinex/poloniex is selling for dollars. For every USDT you buy, bitfinex/poloniex sell 1 USD worth of BTC and put it in a bank.
When you exchange the USDT back, bitfinex/poloniex moves the USD out of the bank account and buy bitcoin.

I don't agree with this, you got any source?

From tether.to:

"Tether Platform currencies are 100% backed by actual fiat currency assets in our reserve account. Tethers are redeemable and exchangeable pursuant to Tether Limited’s terms of service. The conversion rate is 1 tether USD₮ equals 1 USD."

Here is what I think is a really good analysis of Tether:

https://np.reddit.com/r/Bitcoin/comments/6719bj/tether_announcement_about_their_banking_problems/

This makes it much easier for the trader to move funds quickly between "fiat" and crypto, because the exchange is doing the job for you.

True, "fiat" not fiat. There are only two places where you can cash out usdt, Kraken and Bittfinex (owner of the tether ltd).

This will also delay the taxation of your profit.

You bought $1000 worth of ethereum on poloniex right after launch. Today the value is $500 000. If you move the $500 000 to your Fiat bankaccount, you need to pay tax of the profit.
If you keep the profit it USDT you delay the taxation, and you don't need to worry about the price fluctation of the cryptocoins.

I guess this depends more on where in the world account owner/ account are located.

Bottom line is do you trust a company that says we have $210,000,000 in our bank account just in case someone wants to cash out? Same company that had problems with international wire transfers? And lost 120,000 BTC somewhere?

Lots of OT but there is nothing interesting going on in mining so why not haha...

[sp_]

Bitfinex/poloniex is selling for dollars. For every USDT you buy, bitfinex/poloniex sell 1 USD worth of BTC and put it in a bank.
When you exchange the USDT back, bitfinex/poloniex moves the USD out of the bank account and buy bitcoin.

I don't agree with this, you got any source?

No. This is just the way I would have implemented  a USDT clone.

Bottom line is do you trust a company that says we have $210,000,000 in our bank account just in case someone wants to cash out?

That's why they have daily limits.. In 2008 ppl trusted the banks as well.

[blacklig]

Skein sp-mod #3...

Private miner not for sale.

nice! where can we get it, if we cannot buy it?

[sp_]

nice! where can we get it, if we cannot buy it?

You have to wait for the free upgrade from the gpl developers. You might have to wait very long, because I think Alexis have stopped to publish his work.
DJM34 has retired. Wolf0 has got a gf. Pallas is too lazy.  Tpruvot is too busy with yiimp.

I get around 320 with the alexis build on the same intensity, clocks and tdp settings. ccminer 2.0 is below 300.

Skein sp-mod #3 on the gtx 1060 6GB does above 400MHASH,  (ccminer 2.0 with gtx 1070 founder edition does 420MHASH)
Skein sp-mod #3 gtx 1070 does above 600MHASH
Skein sp-mod #3 gtx 1080 does <censored>
Skein sp-mod #3 gtx 1080ty does <censored>


Go mine ethereum or zcash. More profit for you..

A new free ethereum miner that does 25MHASH on the gtx 1060 has just been published free on the net.

[bathrobehero]

dump and dump  - the best strategy ever

Where you one of the guys who mined ethereum the first 6 months and dumped it @ $0.60 a coin ? Then you missed a 500x increase.
I think a mix is best.. Keep some and dump some. But spread the risk on more than one coin.

I hold because I can afford to hold exactly because I made some nice profits... from holding while everyone else was dumping for a few slices of pizzas worth of profits.

And even then I still missed out on a few dozen Bitcoins on stuff like DGB and Verge - because I didn't hold long enough.

But I'm not complaining, you can't win them all.

[bensam1231]

dump and dump  - the best strategy ever

Where you one of the guys who mined ethereum the first 6 months and dumped it @ $0.60 a coin ? Then you missed a 500x increase.
I think a mix is best.. Keep some and dump some. But spread the risk on more than one coin.

I hold because I can afford to hold exactly because I made some nice profits... from holding while everyone else was dumping for a few slices of pizzas worth of profits.

And even then I still missed out on a few dozen Bitcoins on stuff like DGB and Verge - because I didn't hold long enough.

But I'm not complaining, you can't win them all.

Holding is investing. You can hold any coin. Why not mine the most profitable, exchange it for what you want to hold?

Holding a random coin and mining something that is subpar hurts you in the long run. You can hold 'more' of whatever coin you want by mining the most profitable and exchanging. There is no coin that is more profitable by mining instead of exchanging unless it's already the most profitable coin. This is fallacious logic miners seem to apply to how they mine. It really doesn't matter.

[pallas]

dump and dump  - the best strategy ever

Where you one of the guys who mined ethereum the first 6 months and dumped it @ $0.60 a coin ? Then you missed a 500x increase.
I think a mix is best.. Keep some and dump some. But spread the risk on more than one coin.

I hold because I can afford to hold exactly because I made some nice profits... from holding while everyone else was dumping for a few slices of pizzas worth of profits.

And even then I still missed out on a few dozen Bitcoins on stuff like DGB and Verge - because I didn't hold long enough.

But I'm not complaining, you can't win them all.

Holding is investing. You can hold any coin. Why not mine the most profitable, exchange it for what you want to hold?

Holding a random coin and mining something that is subpar hurts you in the long run. You can hold 'more' of whatever coin you want by mining the most profitable and exchanging. There is no coin that is more profitable by mining instead of exchanging unless it's already the most profitable coin. This is fallacious logic miners seem to apply to how they mine. It really doesn't matter.

Agree.
The only case I can see mining better than buying is if there is no exchange yet for the coin, or the volume is too low.

[bensam1231]

dump and dump  - the best strategy ever

Where you one of the guys who mined ethereum the first 6 months and dumped it @ $0.60 a coin ? Then you missed a 500x increase.
I think a mix is best.. Keep some and dump some. But spread the risk on more than one coin.

I hold because I can afford to hold exactly because I made some nice profits... from holding while everyone else was dumping for a few slices of pizzas worth of profits.

And even then I still missed out on a few dozen Bitcoins on stuff like DGB and Verge - because I didn't hold long enough.

But I'm not complaining, you can't win them all.

Holding is investing. You can hold any coin. Why not mine the most profitable, exchange it for what you want to hold?

Holding a random coin and mining something that is subpar hurts you in the long run. You can hold 'more' of whatever coin you want by mining the most profitable and exchanging. There is no coin that is more profitable by mining instead of exchanging unless it's already the most profitable coin. This is fallacious logic miners seem to apply to how they mine. It really doesn't matter.

Agree.
The only case I can see mining better than buying is if there is no exchange yet for the coin, or the volume is too low.

Yup. There is a case to be made about keeping coins off the market as well if it's a small coin and prone to the price dumping as emission is too high. However, that doesn't effect any of the medium or larger coins that are worth mining (or even some of the smaller ones depending on the market stability).

[sp_]

Genesis mining iceland


I find it interesting that they have moved the rigs vertically to add more rigs on the same space in the same building.


2016?

https://www.youtube.com/watch?v=vPntHvwd1xQ (4000 gpu's)

2017:

https://www.youtube.com/watch?v=CHRVFmaJDV8 (10000 gpu's)

[_javi_]

new teeth at genesis mining ?

[sp_]

According to the video, Genesis mining have around 1 MUSD a month in powercost, and they have farms spread around in the world. I don't think this number is correct. 1MUSD per year perhaps?

The gpu's in video #1 is pulling around 250 watt each. Seems to be all radeon based 6 cards per rig. Probobly sapphire 380x Nitro cards by the look of the grill. (I think the first video was made in 2016)

A 250W gpu use $0.6 a day @ $0.1 /KWh $0.3 a day @ $0.05/KWh

1 600 000 GPU's ??

The correct number is probobly around 133 333 gpu's.  Still abit high.
Help me out here. Any insiders?

[fr4nkthetank]

6 hangars, I count a total of 84 000 GPU's on the site.  But i`ve seen pics of other genesis mining farms where the gpu layout is different, assuming they arent the same we can say double that, 160 000 GPU's or something.  Thats a shit ton of GPU's.  Now where are the 2.74 million other GPU's ?

[Slava_K]

A new free ethereum miner that does 25MHASH on the gtx 1060 has just been published free on the net.
Link?

[sp_]

https://github.com/ethereum-mining/ethminer/releases