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Thread: QOTW: Do you mine for cryptocurrency?

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    Re: QOTW: Do you mine for cryptocurrency?

    Quote Originally Posted by keithwalton View Post
    It used to make sense 5+ years ago but with dedicated mining processors (asics) these days makes it pointless as you spend more in elec than you generate, never mind the heady days where it paid for a new gpu every 3 months
    ASICs dominate SHA256 (Bitcoin) and scrypt (and maybe x11?), but every other algorithm is currently only mine-able on GPU or CPU, and usually profitable.

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    Re: QOTW: Do you mine for cryptocurrency?

    Hi all,

    I'm doing between 60MH/s on 2x 1070s (at 100W/card) to 83 MH/s with my GTX1080 running on another box mining Ethereum.

    About 2-weeks and I've already made over $200, can cash out to USD anytime I want.




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    Re: QOTW: Do you mine for cryptocurrency?

    I used to do bitcoin mining with a cupple usb antminers running on a raspberry pi but I got hardly anything out of it

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    Re: QOTW: Do you mine for cryptocurrency?

    Quote Originally Posted by UseItNow View Post
    Quote Originally Posted by Wozza365 View Post
    Yep, though not full time, just to make a little money off the hardware I have. R9 390 and R9 280, combined get a hashrate of around 47-48MH/s. I'd love to use my CPU on the action, but its not very profitable.
    What sort of returns did you see, if you don't mind the ask?
    In a few weeks of probably 12-15 hours a day, about $40. I don't run all day everyday as I'm concerned about damaging the GPUs, but I've at least doubled the cost of the electricity.

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    Loves duck, Peking Duck! bsodmike's Avatar
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    Re: QOTW: Do you mine for cryptocurrency?

    To follow up from my earlier post - I've mined at varying rates from June 8th,

    - started off at 23Mh/s for the first week
    - from June 15th added 2x EVGA Superclocked Black 8GB 1070s bumping up to 83 Mh/s combined
    - later on added 2x EVGA FTW 1060 6GBs, hitting 108Mh/s (ran only 1 card) - 4-cards in total.

    Since then, I returned the 2x 1060s for a refund as I felt my 'risk' level was too high given recent plummeting value in ETH.

    History of ETH value:

    June 12, ~ETH $399
    June 28, ~$320
    July 8th, $235

    Since then, I've mined a total of 0.885 ETH (and a bit more); I lost a bit by moving ETH across wallets paying small Gas fees. This is after the 1% pool fee.

    In any case, it's value is

    0.885 * $399 = ~$353
    0.885 * $320 = ~$283
    0.885 * $235 = ~$207

    Locally I pay around $0.3/kWh and received my June bill by the 1st of July. The difference vs. last months bill was about $55

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    Re: QOTW: Do you mine for cryptocurrency?

    I did consider building a mining rig to heat the garage one winter, but it involved spending money and I never like doing that

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    Re: QOTW: Do you mine for cryptocurrency?

    Quote Originally Posted by Percy1983 View Post
    Part of me is wondering if I should try, to say my 290x's seem to be worth more on ebay now they must be up to it.

    Either that or I might just pull one and sell it while the going is good.
    Compare with the traditional 'gold rush'. A mining time consisted of lots of bedraggled prospectors hoping to strike it lucky, with a load of people supplying mining equipment and other services to the miners. They made steady incomes. Some miners may have made big gains - most didn't.

    Fast forward - apart rom the volatatility of the bitcoin market - they are of little direct use (unless you are buying on the data web/tax Evading etc) so you then need to find a trustworthy exchange - with no financial protection if they go bust. So a known outlay in equipment and running costs - but an uncertain and risky return.
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    Re: QOTW: Do you mine for cryptocurrency?

    Quote Originally Posted by peterb View Post
    Compare with the traditional 'gold rush'. A mining time consisted of lots of bedraggled prospectors hoping to strike it lucky, with a load of people supplying mining equipment and other services to the miners. They made steady incomes. Some miners may have made big gains - most didn't.

    Fast forward - apart rom the volatatility of the bitcoin market - they are of little direct use (unless you are buying on the data web/tax Evading etc) so you then need to find a trustworthy exchange - with no financial protection if they go bust. So a known outlay in equipment and running costs - but an uncertain and risky return.
    So true will stick to my original plan and make money selling to the miners and pull one of the 290xs.

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    Re: QOTW: Do you mine for cryptocurrency?

    Holy cow, I could actually sell my 290x on ebay and make almost all my money back on it right now?

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    Re: QOTW: Do you mine for cryptocurrency?

    Nope. When it's cold and I want to throw a bit of heat into the room I fire up folding@home and contribute towards cancer research.
    Quote Originally Posted by Agent View Post
    ...every time Creative bring out a new card range their advertising makes it sound like they have discovered a way to insert a thousand Chuck Norris super dwarfs in your ears...

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    Re: QOTW: Do you mine for cryptocurrency?

    Quote Originally Posted by Biscuit View Post
    Holy cow, I could actually sell my 290x on ebay and make almost all my money back on it right now?
    Thats insane. What are you going to replace it with?
    Facts don't exist, only interpretations.

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    Re: QOTW: Do you mine for cryptocurrency?

    Quote Originally Posted by outwar6010 View Post
    Thats insane. What are you going to replace it with?
    Well thats the problem... Nvidia is charging basically whatever they want at the moment and AMD are nowhere to be seen... so I wont be selling

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    Re: QOTW: Do you mine for cryptocurrency?

    Quote Originally Posted by Biscuit View Post
    ...AMD are nowhere to be seen...
    In fairness, RX Vega will be launching at the end of the month. Vega FE is already on sale, so we know they're pumping out the chips at volume right now.
    Quote Originally Posted by Agent View Post
    ...every time Creative bring out a new card range their advertising makes it sound like they have discovered a way to insert a thousand Chuck Norris super dwarfs in your ears...

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    Re: QOTW: Do you mine for cryptocurrency?

    Quote Originally Posted by aidanjt View Post
    In fairness, RX Vega will be launching at the end of the month. Vega FE is already on sale, so we know they're pumping out the chips at volume right now.
    Doesnt have a jot of bearing for my circumstances though

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    Re: QOTW: Do you mine for cryptocurrency?

    Nopes, with electricity cost around here, I'd only have very small gains, considering continuous stress and heat on components I'd be only on the losing side. So I only BOINC scientific projects in winter if/when the temperatures drop alot. So about a month during daytime every year give or take.

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    Re: QOTW: Do you mine for cryptocurrency?

    Quote Originally Posted by Biscuit View Post
    Holy cow, I could actually sell my 290x on ebay and make almost all my money back on it right now?
    Thats what I have just found, as it is as I am running 2 in crossfire so I am going to sell one and stay with the single 290x for a while.

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