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

mega_thread
ethereum
bitcoin

#284

take the money you would spend on the cards and keep it aside for just buying crypto


#285

Ayyy there you go mang,
bag 'em and tag 'em

you guyz should monopolize off of this info and push all your anti agendas while the kill is fresh


#286

Just don’t; read the thread.

@anon37239676 buying crypto without a lot of experience and at least some trading knowledge, as well as an understanding of the underlying tech (this one’s an extreme rarity nowadays) is a fools errand too just so we’re clear lmao


#287

making the cards go out of stock everywhere.

Just buy the coins.

Fuck mining.


#288

This is, indeed, the fast track to a return, though if you’re just active enough to mine the most profitable coin and flip it to BTC, mining is much lower risk once ROI is reached on hardware, plus it’s a bit more passive than trading (checking trends all the time).

Here’s a decent example:

I bought about $820 worth of crypto over the last couple months. I just sold it, and got about $950 back. If I put that $800 into a mining rig, I’d still be net negative on hardware costs, but I’d have generated more than $100 worth of coin. In a couple more months, it’d be paid off, and would continue slowly becoming more and more profitable, without me really doing anything. Instead, I have all my cash back, but now have to reinvest it anyway if I want it to continue to work for me. You know… risk and return.

If you’re talking about putting several thousand into trading, then yes, it’s way more profitable than mining, but again, higher risk.


#289

You need to take into account the disproportionate effect of difficulty increase on small miners. The reason large miners stay relevant is that they continually reinvest in hew hardware with the majority of their margins. For the hobbyist, single currency mining is usually completely untenable if you’re going in with newly purchased hardware.

Otherwise your rationale here is more or less sound.


#290

image


image


#291

I’ve been running nicehash on 3 cards getting about 75mh/s for about 7 weeks now and haven’t earned enough for half a computer. Minus electricity I’ve earned maybe 1/3 of a decent gaming computer.

If I didn’t already have cards my ROI would be getting longer and longer


#292

Yep. If you run nicehash then you want to hedge against bitcoin, as you’re exposing yourself to another layer of volatility. Any extreme dip in the particular crypto you mine’s BTC conversion rate, and you’re out a decent extra percentage on top of nicehash’s cut.


#293

AMD crypto mining drivers released:

http://support.amd.com/en-us/kb-articles/Pages/Radeon-Software-Crimson-ReLive-Edition-Beta-for-Blockchain-Compute-Release-Notes.aspx

and a review of the drivers:


#294

They’re using nicehash which isn’t representative of single-coin performance, but the percent increase should apply to other miners as well. You can get 36-39MH/s on Wolf’s C miner, for example, so I’d expect the performance to jump to the expected 45 MH/s on the Vega 56 cards.


#295

agreed, but still promising results. And it seems to me there even is more headroom because the vega 56 outperforms the vega 64 with a memory overclock on those drivers.


#296

There’s just too much variability in nicehash to take those numbers at face value. My guess is that there’s some further optimization that needs to be done, but the numbers they’re positng re next to meaningless because of their methodology.

Geth OCL is the standard because the benchmark is consistent, if slow.


#297

Seems like a perfect thing to test for @wendell in the in-depth review/benchmarks of vega!


#298

and


#299

The rumors of another fork are greatly exaggerated.

The Eth ATM is a wildcard though. Not even Bitcoin ATMs do very well.

Is it a bitcoin ATM offering Eth alongside or Eth specific?


#300

Seemed legit, but you would know more than me. Was thinking you would know if this was real deal or not.

Now, that’s exactly what’s happening. According to an announcement posted to the Segwit2x GitHub repository, a bitcoin block between one and two megabytes will be created at block 494,784. After that, anybody who wants to join the New York Agreement signatories on the Segwit2x chain can create bitcoin blocks on top of that one. Thus, a new blockchain with its own set of rules will be created.

github link

https://github.com/segwit2x/segwit2x.github.io/blob/master/segwit2x-announce.md

Is that good proof or no?


think its just added

LocalCoinATM, an Ontario company that operates ATM-like kiosks for digital currencies, has added support for ethereum at several locations across Toronto.

Looks like the machines that tested tried to use tbh lol


#301

Regarding the fork, most of the mining power that wants big blocks is with Bitcoin Cash, and that’s only about 10%. Proposing a fork doesn’t mean anything if no one runs your nodes and no one mines your blocks for you.

Unless there’s a massive pre-fork dump of Bcash, don’t expect 2x to go anywhere after the initial split dumpers.

That’s the great thing about ASIC coins. The more forks there are, the more expensive it is for the smaller chains to survive


#302

Bitcoin activated segwit in earnest today.

It almost didn’t happen.


#303

Now its cost effective, no need for rigs or electricity…Just pure profit