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As Bitcoin value hits record highs of $2,900+.
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As Bitcoin value hits record highs of $2,900+.
Such a meteoric rise in Bitcoin value is, I suspect, highly unlikely to be sustainable and anyone investing a lot of money to start mining now, has probably missed the boat and liable to find themselves with a white elephant and a big hole in their bank account.
As someone with a 480 8gb that sits mainly unused (due to a 2 month old baby) I do keep wondering about whether it is worth mining but then I remember electricty prices in the UK are quite high and assume it isn't? Does anyone know better?
About 4.8 using Ethereum?Quote:
Originally Posted by cheesemp
http://whattomine.com/coins
That's entering one 480 and $0.20 per kWh. Might be a bit more if their calculations are without any underclocking/undervolting.
The complexity of mining is way WAY past what a home user can do, even with the current value. Hell you might as well just buy some and sell em a few days later.
As so many East Asian markets are legitimising em, the risk of the bubble bursting is mitigated; there are fewer sole-owners who have the power to sway the market; as someone dumps a load of em, they're just as quickly bought up
I used to trade them back in 2012/2013, missus passed so took a break, got back into it in November when they were £563. It's ridiculous how high the demand is for em
It's not just the electricity you have to factor in, some of the programs used for mining are quite bandwidth intensive.Quote:
Originally Posted by cheesemp
I would check prices on ebay - as in some cases used cards are selling more than new due to high demand (and being out of stock everywhere).Quote:
Originally Posted by cheesemp
As long as you don't mine SHA256, scrypt, or x11 based coins, you can probably make a profit over electrical costs. Before BTC was >$1000, I was making about $0.04-$0.10/hr after electrical costs using a 980Ti ($0.14/kWh @ 0.3 kWh/h). Now that BTC's worth considerably more, most of the alt-coins have also gained value, so I'm getting closer to $0.40/hr post-electrical-costs.Quote:
Originally Posted by cheesemp
I recommend avoiding SHA256, scrypt, and x11 because they all have ASIC miners that far outpace the performance of GPU's, rendering them useless. There are also several CPU only algorithms (argon2, yescrypt, m7m, xevan) that, due to the chosen KDF parameters, are designed to run better on CPU's for at least several years.
The zpool.ca multipool is a good starting point. It allows you to mine whatever algorithm you want, pays you in the coin of your choice, and supports auto-switching based on algorithm profitability.
Edit: Of note, you will want to benchmark the card thoroughly against the chosen algorithms while recording power consumption (Kill-a-watt meter). Then calculate to see if it's profitable. If you use a pool (like zpool), you can wait till the balance settles, then record the starting value, mine for a few hours, let the balance settle again, then calculate ( BTC / h ) - ( ( ElectricalCost * kWh ) / h ).
So much for "make earth great again", when one sees a few pennies to be made.
Trump isn't that different from "the people" after all
Or in other words, buy low, sell high? There's got to be tons of money to be made with prudent investing in such a volatile market - the trick, of course, is to have a good idea when the market is at it's peak or trough, but you can still play it relatively safe and make good money imo. Not that I've done it at all, just a guess.Quote:
Originally Posted by Friesiansam
I would consider getting into mining, perhaps, but now would be the almightiest worst time to do it. Next time it hits a trough, maybe. It's not going anywhere.
http://www.economist.com/news/leaders/21722841-latest-frenzy-tulipmania-gold-rush-or-dotcom-boom-what-if-bitcoin-bubble?journey=b
I can see there is potential there but, I believe the risk is too high for most people, especially as there is no central bank or government backing for cryptocurrencies. As in all high risk investments, don't invest more than you can afford to lose.Quote:
Originally Posted by wazzickle
All investments.Quote:
Originally Posted by Friesiansam
The point about cryptocurrencies is that they are not controlled - or in your terms, backed - by governments. Currency does not exist according to the backing of it, which would only come in the form of another currency - gold, for example - but, rather, currency exists insofar as people agree on the value of a piece of paper or a piece of metal or a piece of information. A large part of the appeal of cryptocurrencies is that governments play precisely 0 role in the management or control over it.
we COULD SOON SEE amd EPYC products with up to 7 vega GPUs on one x399 socket ~chip/MCM.
Discrete gpu cards simply wont compete.
Looking at the price crash as we head into the weekend, these may be a bit too late :)
Still tempted to pick up one of the systemboards designed to take a load of cards and keep ears pricked for a future ethereum/similar coming through.
Expect a heap of cheap AMD cards in the next few weeks :)