111–120 of 361 posts
Earlier quoted context omitted.
And I can attest to learning this lesson personally in 2012.
lol, sorry, but how long until your landlord contacted you? What was the conversation like? I'd would have said, sorry running servers for my internet business.
Just took a quick look at this. If you are located in the 'mining valley' of Washington where power is ~2c/kwh you are still getting healthy profits. A computer with 7 GTX 1070 graphics cards should produce ~230 mh/s and draw 1 kw. This would cost approximately $30/month in power factoring in kw demand + cooling. The above setup will currently generate $385/month in ETH. So basically for miners who are in the right s…
Average price paid for electricity in many regions is 20 cents/kwh. Just using your numbers that translates into $300/month in costs for under $400 in ETH. At the national average it would be $200/month by rough math.
Off topic, but the "ETH/USD" label on the price graph bothers me. Shouldn't it be USD/ETH? https://www.overclock3d.net/gfx/articles/2017/07/16083553143... 150 ETH/USD would mean that you can get 150 coins per 1 USD. On the other hand, 150 USD/ETH correctly captures the mathematical relationship.
150 ETH/USD is normal forex notation. The graph shows a currency pair. So one currency is being sold in exchange for the other. When you see currency pairs like this, ETH/USD, the first currency (ETH) is the one being bought, the second currency (USD) is the one being sold. If the chart is going up, the first currency is becoming stronger against the second. If the chart is going down, the first currency is becoming…
A quick search of eBay shows no good deals on gtx 1070s. Used cards are selling for what I bought my cards new for a month ago or more (380).
https://pcpartpicker.com/product/fKp323/msi-geforce-gtx-1070...
In a couple weeks maybe prices will be back to normal or even drop lower.
I sold my hardware last week. GTX 1060s, a 1080, an AMD R9 290X, some other stuff. Unless I'm missing something, there's no huge flood of video cards on ebay. There's maybe ~20% more than there was a week ago. All told, for the in demand mining hardware, you're only talking about a couple thousand cards.
That said, I don't think people sell that fast. Back when I GPU mined Bitcoin (2011), when the price fell from $35 to $2, I turned my miners off and waited a few months before selling. (If only I had kept them going, but that's a sad and off-topic story ....)
All I can think of is the careless environmental impact of all that dirty electricity consumption. For, let's be honest, a mostly speculative activity. One cryptocurrency crashes, another gets hyped up, and the computational cycle repeats. When will it end.
Just took a quick look at this. If you are located in the 'mining valley' of Washington where power is ~2c/kwh you are still getting healthy profits. A computer with 7 GTX 1070 graphics cards should produce ~230 mh/s and draw 1 kw. This would cost approximately $30/month in power factoring in kw demand + cooling. The above setup will currently generate $385/month in ETH. So basically for miners who are in the right s…
>" If you are located in the 'mining valley' of Washington where power is ~2c/kwh you are still getting healthy profits" Can you clarify what "mining valley" you are referring to? Is this Chelan County? If so I thought there was talk about a moratorium on new high load customers but maybe that never came to pass? See: http://www.coindesk.com/bitcoin-miners-public-utility-spar-o...
Earlier quoted context omitted.
2 cents is an abnormality. Europeans pay around 20 cents per kwh on average.
2 cents is what you're competing against -- very large mining farms located near cheap, under-utilized hydro plants. Many in China, due to the existence of many such plants. [0] Those are the mining operations that can remain (marginally) profitable when the small home miners are forced out because gross revenue is less than power costs. [0] http://www.afr.com/technology/lisa-kangding-story-20160706-g...
In case anyone is not aware, there are user-friendly tools (that take their cut) which ensure maximum mining profitability for available hardware. NiceHash, MinerGate, Awesome Miner and others - many have an affiliate program and fight against botnets (and antivirus often block the actual mining programs they download).
Minergate is not generally advisable. [1] [2] [1] - https://bitcointalk.org/index.php?topic=740112.0 [2] - https://forum.getmonero.org/3/merchants-and-marketplace/2516...
I chose NiceHash personally because it is open source. It was literally download, click 'Benchmark', then after that finished, click 'Start'. They even transferred the ~$3 I had earned when the Bitcoin transaction fees dropped low enough to make it "worth it" even well below their normal minimum payout threshold.
Do you have time to provide a bit of context for your links? The first one doesn't even mention "MinerGate" on the first page of the 30 page discussion, and the second is just a yes/no list with no explanation of why things are where they are on the list or credentials for who made the list. There doesn't seem to be any recent or ongoing massive backlash against MinerGate anywhere online.
[1]https://www.bestvpn.com/ethereum-mining/
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Maybe https://www.reddit.com/r/Monero/comments/4bx1td/im_just_gonn...
> "not as strong" connection between MinerGate + bytecoin scam
Maybe this is an incredibly uneducated comment, but won't they have to buy those GPUs back when the price of ETH inevitability goes up again? This is all just FUD from August 1st, ICO instability, and lack of Ethereum use cases. All of these issues have resolutions planned. So one would be stupid to think Ethereum stays at $150 for even a year.
ETH has been around less than 2 years; it spent only 2 months over $150. I don't see how any analysis that it will rise is better than a coin flip.