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Crypto Mega-Thread [A.K.A Cryptocurrency mining isn't for hobbyists and Ethereum's terrible]

mega_thread
ethereum
bitcoin

#264

the vast majority of established bodies of knowledge on the subject do.

I’m not trolling. I’m trying to inform and educate. I don’t have an agenda, and even if I did, I have influence on much larger platforms. There’s no stakes here. All of my interactions in this thread are essentially PSAs.

Whether you choose to absorb or utilize that information is up to you.

We’ve proven your financial incentives, I don’t think you have any basis to cast aspersions on mine.


#265

I’d say “give examples”, but then you’d misrepresent those too.

¯\_(ツ)_/¯

That’s exactly what you’d say in this situation if you did, so saying that isn’t much.

I haven’t tried to hide those because I have no reason to. My views could be obscured by those incentives, but I don’t gain anything by proving something here aside from enjoyment and that isn’t worth much to me.

I don’t need to prove that my decisions are the right ones to myself because I already know they are. I don’t need to prove them to you guys because I gain nothing by doing so. Things will turn out how they’re going to turn out regardless of people believing what I say, and I knew that coming into this.

I just don’t like it when people spread misinformation based on false presumptions.

So if I do get anything out of this, it’s whatever enjoyment I would get out of showing how someone is wrong and why.


#266

None of what I’ve said here is controversial, to anyone but you, because you’ve sunk ill advised money into it.

Now you’re lashing out at me for not retracting it.

I’m sorry the facts hurt your fee-fees.

I’ve not been dishonest at any point. I’ve even bent over backwards to try and explain things to you. I’ve gone as far as looking into Taiwanese power company pricing structures for the sake of accuracy. Others have even jumped in to try and do the same.

It’s not the rest of us mate, it’s you.


#267

Soooo… From what I’ve gathered from this thread… Nobody can agree on anything being discussed here…

However… I just wanted to confirm my own thoughts, on my own plans, for whence my house is finished…

From what I have gathered so far in here, mining is not profitable in the small scale if:
1: you pay for power…
2: you buy hardware in order to mine…

My question is this… Presuming my house relies solely on solar power, only feeding off the grid when the batteries are low, and assuming I only used hardware I can no longer use for its intended ( at purchase) purpose… Then I would in theory be profitable yes? Regardless of hash rates, difficulty levels or coin prices…

However low said profit may actually be…


#268

where’s my crypto bingo


#269

Deps where you live and how much you pull off the grid, but it could be.
Might want to look at how long it’ll take to make as much money in mining with it as you’d get by just selling the hardware.


#270

We’d be looking at very little coming off the grid… The way the system Is designed, when the batteries are full, we sell back to the grid, and when they’re empty we pull from the grid…

Retailer has contracted that they pay us, what we would pay them, but only in credit… So the theory is, us generating when we don’t need to completely offsets the cost of us drawing from the grid when we need to…

And current hardware second hand is worth 5/8 of fuck all… The idea is that my old rig, will be subsidising my eventual new rig… So My 8350 and dual R9 390s may not have massive hash rates, but I’ve got 3 years before decent ( as in not 4g ) Internet comes to my area, at which point I can start thinking about gaming online again…

And no, I most likely wouldn’t be mining and holding… I would be looking at cashing out my wallet probably monthly, and dumping proceeds into a high interest bearing savings account…


#271

Watching this bait thread is hilarious.


#272

NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO


#273

probs, sounds like all you need is time and effort really


#274

You’d have to have kilowatts of extra capacity each month for this to work, but granted that you have that extra capacity, then yes, you can make a little money on the side.

Note that if your hardware is that old, you may want to use a hash-renting service like nice hash or a multiminer (like multiminer) to optimize your mining and profits.


#275

Yeah this is already common knowledge.

Expect fucked up launch pricing.


#276

wrong and a bad thing to take from this threads retardation.

its really simple math guys.
take your hardware.
how much power does it suck up.
x by your power cost.
you now now what your cost is per day.

take your hardware, test it or calculate what it produces in a day.
https://www.nicehash.com/?p=calc
for a rough idea

cost vs profit
are you making more than you spend ?
y/n?

at that point. you can factor in the cost of your hardware.
if you ran out and got all NEW shit just for mining then you can estimate your return of investment time.

if you had all this shit laying around, then, gravy
if you don’t pay for power, then, gravy
if you use this hardware for other shit and just use mining a s a side gig, then gravy.

really simple stuff guys.
does it make you more money than it costs to run in electric costs ??


#277

the factor in things like diff increasing
spoiler alert: the general trend in your mining career’s revenue if you’re ever unfortunate enough to have one (a mining career) will be a negative one. this is what fucks it if you bought parts specifically for mining.

0 electric costs you will get there eventually
0 initial hardware costs you’re probably fine for a bit


#278

He’s right about the electricity part, actually. If you’re not paying for new HW, then you can still be profitable under a certain electricity cost depending on the efficiency of your hardware. It just narrows your margins enough to make long term mining less profitable.

The argument against mining profitability

is a lot less strong if the person has access to free hardware.

this is true to the extent that opportunistic mining is profitable, the rest is a bit too gung ho, and the profitability calculator he’s linking uses static difficulty, which is a terrible metric for measuring mining over time.


#279

Lmao RIP vega launch prices

They independently confirmed the eth hash rate rumours, and we already know that it’s a beast for Monero and Zcash

Vega Minis are gonna be vaporware for all intents and purposes with the pre-strapped power management.


#280

#281

lmao

for those without twitter, this is the image

Vitalik more like Vital-Thicc

(BB)Witalik Beautyrin


#282

Looks like we’ve got an affinity scammer promoting his shitcoin on the forum again:

Live Music Industry to Get its Own Cryptocurrency

image

image

checked linkedin and he works for the ICO marketing team.


#283

I will not buy a bunch of RX Vega cards for mining.
I will not buy a bunch of RX Vega cards for mining.
I will not buy a bunch of RX Vega cards for mining.

C’mon, guys, talk some sense into me and keep me from spending irresponsibly.