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Thread: QOTW: Do you mine for cryptocurrency?

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    QOTW: Do you mine for cryptocurrency?

    Let's hear your thoughts on this increasingly popular pastime.
    Read more.

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    Re: QOTW: Do you mine for cryptocurrency?

    Sure do, I even throw my CPU power on to smaller cryptos that are not worth much but seem interesting, right now its RTM coins (raptoreum) it's a fun hobby, and what my GPU's pull in isn't half bad either

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    Re: QOTW: Do you mine for cryptocurrency?

    nope and have zero plans to either
    Old puter - still good enuff till I save some pennies!

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    Re: QOTW: Do you mine for cryptocurrency?

    Yes I do, I mined on my 3060Ti that I got in December last year, from January until last week, card more than paid for itself and for my replacement monitor.
    I now have a 3080 and that's mining while I am away with work, when I get home I'm going to change the thermal pads on it and then give it a quick tweak before I'm off with work again..

    While I understand that mining isn't popular with those that haven't been able to get a card I don't care what other people think, I bought a card, I'll do what I want with it, if that's mining or just leaving it there doing nothing while I'm not using it, entirely up to me..

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    Re: QOTW: Do you mine for cryptocurrency?

    Quote Originally Posted by [GSV]Trig View Post
    While I understand that mining isn't popular with those that haven't been able to get a card I don't care what other people think, I bought a card, I'll do what I want with it, if that's mining or just leaving it there doing nothing while I'm not using it, entirely up to me..
    I think people are more upset with those who buy several, dozens or in some cases hundreds of cards and just use them all to mine.
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    Re: QOTW: Do you mine for cryptocurrency?

    Quote Originally Posted by [GSV]Trig View Post
    While I understand that mining isn't popular with those that haven't been able to get a card I don't care what other people think, I bought a card, I'll do what I want with it, if that's mining or just leaving it there doing nothing while I'm not using it, entirely up to me..
    I can't speak for everyone but personally i have no problem with 'a' person or even something like a SME using their cards to mine in the cards spare time, what i take issue with are the large mining farms that get thousands of GPU's delivered by the pallet load, often direct from the manufacturer, to a warehouse packed to the rafters.

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    Re: QOTW: Do you mine for cryptocurrency?

    Quote Originally Posted by [GSV]Trig View Post
    Yes I do, I mined on my 3060Ti that I got in December last year, from January until last week, card more than paid for itself and for my replacement monitor.
    I now have a 3080 and that's mining while I am away with work, when I get home I'm going to change the thermal pads on it and then give it a quick tweak before I'm off with work again..

    While I understand that mining isn't popular with those that haven't been able to get a card I don't care what other people think, I bought a card, I'll do what I want with it, if that's mining or just leaving it there doing nothing while I'm not using it, entirely up to me..
    I don't think anyone cares about people buying a card they probably would have bought anyway, then mining with it. I sure don't, and you're right, what you do with it is your business alone.

    What winds people up is those buying in very large quantities, often bot-buying, such that normal people either end up paying vastly inflated prices or simply can't get a good card at any price.
    A lesson learned from PeterB about dignity in adversity, so Peter, In Memorium, "Onwards and Upwards".

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    Re: QOTW: Do you mine for cryptocurrency?

    Oh, and no I don't mine....
    _______________________________________________________________________
    Quote Originally Posted by Mark Tyson
    like a chihuahua urinating on a towering inferno...

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    Re: QOTW: Do you mine for cryptocurrency?

    No, I don't mine, and though I'm buying a system capable of it at the moment, don't intend to even then. Not my thing. If I was interested, I'd do it and take Trig's stance (my card, my business) but I'm not.
    A lesson learned from PeterB about dignity in adversity, so Peter, In Memorium, "Onwards and Upwards".

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    Re: QOTW: Do you mine for cryptocurrency?

    Quote Originally Posted by Ttaskmaster View Post
    I think people are more upset with those who buy several, dozens or in some cases hundreds of cards and just use them all to mine.
    Quote Originally Posted by Corky34 View Post
    I can't speak for everyone but personally i have no problem with 'a' person or even something like a SME using their cards to mine in the cards spare time, what i take issue with are the large mining farms that get thousands of GPU's delivered by the pallet load, often direct from the manufacturer, to a warehouse packed to the rafters.
    Huh.

    Nobody had said that when I started typing.

    By the time I finished, you both had.

    / Note to self - book a "Type faster" course.

    / Another note to self - or type fewer words. I think I might overdo it someimes. Just on occcas .... oh, damn.
    A lesson learned from PeterB about dignity in adversity, so Peter, In Memorium, "Onwards and Upwards".

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    Re: QOTW: Do you mine for cryptocurrency?

    No i have never mined crypto.
    i was once young and naive and supported another large science project with computer power, but after seeing the rather larger power bill that stopped ( beside Germany Denmark have the highest power prices )
    I also dont know any that mine crypto, if i did we would probably not be on speaking terms now, and it would not have been me that terminated the relationship, as you know the truth are seldom popular for many to hear.

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    Re: QOTW: Do you mine for cryptocurrency?

    I don't anymore - the profit margins are just too small to make it worthwhile in the UK - fine as a hobby, but i've been through that phase

    I did used to though - early on I mined around BTC (and sold out when it hit $100..sigh) and more recently about 3 years ago I was mining Z-Cash, which was making me £80 profit per month from a single GTX1080 (pool mining) - but it wasn't long after that when the difficultly levels started to exceed what you could profitably mine in a home setup.

    I briefly considered building a proper rig for Z-Cash at the time..even with UK electricity prices you could break even on the hardware after 9 months, with some margin for price loss..but I decided against it (luckily given what happened to Z-Cash that year).

    It was fun, but not something I do anymore.

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    Re: QOTW: Do you mine for cryptocurrency?

    I have a gaming computer that slowly pays itself while I sleep.

    Also, I don't believe in cryptos, they are just a scam, but I like money.

    You like money? We should hang out.

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    Re: QOTW: Do you mine for cryptocurrency?

    I realise that there are problems with conventional currencies, but crypto-currencies are creating new problems, such as the only payment option of Crypto-Locker.

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    Re: QOTW: Do you mine for cryptocurrency?

    Yes, I mine on my card. It's already paid for itself almost twice over and, while the market took a dive, it's still profitable - it makes around £5 a day.
    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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    Re: QOTW: Do you mine for cryptocurrency?

    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.

    I overall object to cryptocurrency in general as it's been generally shown as pointless with no real benefit for the computing and electrical power used compared to regular payment methods (especially when you consider the transaction speed which is the notoriously small amount of 7 transactions per second for Bitcoin, but also the resulting much higher fees for validating transactions too).

    Cryptocurrency is just something that's interesting on paper, but a big failure when put into practice. There may be a few things that can be used to improve things elsewhere, but the majority of it to me comes across as just a hopeful get-rich-quick scheme, with the behaviour of all the mining farms just emphasising my point.

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