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Thread: QOTW: Do you mine for cryptocurrency?

  1. #17
    Senior Member Spreadie's Avatar
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    Re: QOTW: Do you mine for cryptocurrency?

    Quote Originally Posted by Output View Post
    Absolutely not.

    I have no interest in having a higher electric bill, along with said bill most likely being higher than whatever any mining gains it would bring in would be.

    I also have no interest in the hassle there would be to convert it into usable funds.
    That just reads like ill-informed FUD-spreading.

    A generalisation that the cost outweighs profits is just nonsense. As for converting to usable funds - I just checked - five mouse clicks to send it to my paypal account.
    Before you judge a man, walk a mile in his shoes; after that, who cares?! He's a mile away and you've got his shoes!

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  3. #18
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    Re: QOTW: Do you mine for cryptocurrency?

    Used to on my main and a machine made of spare parts but this was a couple years ago now and only really made sense during the winter when the extra heat was offsetting the cost in heating. I still have what I made floating about somewhere, never sold it.

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    Re: QOTW: Do you mine for cryptocurrency?

    No. Two reasons.

    1. The environmental impact.
    2. Hardware longevity.

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    Re: QOTW: Do you mine for cryptocurrency?

    No I don't & haven't. I also have turned away potential clients looking to build/repair mining rigs for years. I view it as a disease that needs to be eradicated.

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    Re: QOTW: Do you mine for cryptocurrency?

    Have been mining since 2018, bought 4 1060's at the time along with a 1080Ti to game with, later I have get a 1070 for free, and bought a 1080 for 10$ (rubbishrubbishrubbishrubbishty for mining but hey 10 bucks). Later I ha put the card I have replaced in a mining rig and today my setup is like this: 4x1060, 1 1070, 1 1080, 1x1080Ti, 1 2080super, 1 3070 (in my rallysim rig) and 1x6900XT along a 5950X in my main computer. Daily income is $20-24 at 14.aug, and if u ask....do I feel like I have been doing something wrong for gamers the last year. Can't say I do, the 3070 and the 6900XT would have been bought and used as they are today anyway. The old cards, well they are just old and used to they die,
    Do I have feelings of doing something wrong, absolutely not. In the end I have got all my computerstuff for free and that makes me smile everytime I use some of it :-)

  7. #22
    HEXUS.Squirrel Output's Avatar
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    Re: QOTW: Do you mine for cryptocurrency?

    Quote Originally Posted by Spreadie View Post
    That just reads like ill-informed FUD-spreading.

    A generalisation that the cost outweighs profits is just nonsense. As for converting to usable funds - I just checked - five mouse clicks to send it to my paypal account.
    It's certainly the case for the main coin that people think of when they think of getting rich, namely Bitcoin (BTC) itself, and the success of others seem to me to basically be hopeful speculation based on the heights people have seen Bitcoin get to.

    As for the converting to usable funds, I'm surprised at that - I was thinking more along the lines of the whole Blockchain transaction fee ridiculousness and the thought of having to sign up to another site, such as Coinbase or something, just to deal with that one thing.

    Based on your mention of five clicks, I'm guessing that's something to do with PayPal's own announced capability of being able to use it in some way (I forget the specifics and haven't tried it anyway), which admittedly makes it sound less bad as lots of people will already have been using PayPal for years and thus already have an account.

    None of the clarifications change my stance on wanting nothing to do with mining though, as I still see it as a waste of resources with little to no real world benefit.

  8. #23
    Moosing about! CAT-THE-FIFTH's Avatar
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    Re: QOTW: Do you mine for cryptocurrency?

    I wouldn't mind doing some mining just for fun,but since my systems are mini-ITX ones,I would rather not have them running 24/7 all the time!
    Last edited by CAT-THE-FIFTH; 14-08-2021 at 01:16 AM.

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    Re: QOTW: Do you mine for cryptocurrency?

    Nope.

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    Re: QOTW: Do you mine for cryptocurrency?

    No, I did seriously consider it at one time but after some research decided it wasn't worth the investment in a dedicated PC.

  11. #26
    root Member DanceswithUnix's Avatar
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    Re: QOTW: Do you mine for cryptocurrency?

    Yes, some Ethereum but only on spare cycles of GPUs that I already had. It made my 3060ti FE purchase possible, otherwise I wouldn't have paid that much for a GPU.
    I also have a few Chia plots running on my server, though that is a real crypto mess which I really can't see any need for and only really leave it going because it would be effort to dismantle it and I don't have an immediate need for the 8TB HDD it uses (which apparently generates about £10 per month).

    Quote Originally Posted by Spreadie View Post
    As for converting to usable funds - I just checked - five mouse clicks to send it to my paypal account.
    ISTR it took a lot of head scratching to get to the point where I can pay out through, the whole crypto scene is a maze of incompatible "coins" which only hang together thanks to centralised money sites like Coinbase. I think anyone who believes that crypto is the future of finance needs to be shown this amazing investment opportunity I have in a bridge...
    Last edited by DanceswithUnix; 14-08-2021 at 10:15 AM.

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    Re: QOTW: Do you mine for cryptocurrency?

    Quote Originally Posted by DanceswithUnix View Post
    I also have a few Chia plots running on my server, though that is a real crypto mess which I really can't see any need for and only really leave it going because it would be effort to dismantle it and I don't have an immediate need for the 8TB HDD it uses (which apparently generates about £10 per month).
    How easy is this to setup and run, do you need separate systems for plotting / farming or can it all be done on one system? I've got a spare 9700K system and some storage sat around gathering dust, just wondered how viable it is under a Windows or Linux distro? No spare GPU as I sold my old one, hence thinking maybe Chia for something low maintenance once setup that doesn't consume oodles of electricity.

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    Re: QOTW: Do you mine for cryptocurrency?

    I did it for 1.5 months then wondered why I was bothering as progress seemed really slow and I grew concerned about the electric bill.

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    Re: QOTW: Do you mine for cryptocurrency?

    Can't work out how to start mining for profit. All a big mystery to me.

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    Re: QOTW: Do you mine for cryptocurrency?

    I *have* to mine crypto to pay off all these blackmail emails that recorded my "onanism" without me even having a webcam.

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    Re: QOTW: Do you mine for cryptocurrency?

    Nope, I want there to be a planet left for my son.

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    Re: QOTW: Do you mine for cryptocurrency?

    Quote Originally Posted by Iota View Post
    How easy is this to setup and run, do you need separate systems for plotting / farming or can it all be done on one system? I've got a spare 9700K system and some storage sat around gathering dust, just wondered how viable it is under a Windows or Linux distro? No spare GPU as I sold my old one, hence thinking maybe Chia for something low maintenance once setup that doesn't consume oodles of electricity.
    You can do it all on one system (I used Linux), but you ideally want a small SSD to create the plots or it will take forever (I used an old 500GB SATA SSD, which doing about 10TB of plots in total took about 20% off the expected life of the drive with writes).
    By all means have a play, but don't expect big money unless you have tons of storage spare, and don't go buying anything as you probably won't get that money back. Note that with only £10 earned so far, I have yet to find out how to convert my Chia into actual cash.

    Creating plots is quite power heavy and kills SSDs, but farming plots isn't so bad if you were running the server anyway like me.

    Check out Space Pool: https://pool.space/ to pool mine or you will likely never see a penny.
    Last edited by DanceswithUnix; 15-08-2021 at 06:38 AM.

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