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Cryptocurrency Miners Bought 700,000 GPUs in Q1 2021

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EA245FF3D6B2421
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Re: Cryptocurrency Miners Bought 700,000 GPUs in Q1 2021 2021/06/23 02:28:28 (permalink)
Do normal users mine cryptocurrency? I can't imagine it being profitible for a user with only 1 GPU and standard household electricity prices.
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kram36
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Re: Cryptocurrency Miners Bought 700,000 GPUs in Q1 2021 2021/06/23 07:36:37 (permalink)
inkyvoxel
Do normal users mine cryptocurrency? I can't imagine it being profitible for a user with only 1 GPU and standard household electricity prices.


Yes gamers mine too. It helps pay for the ridiculous MSRP people have to pay to get a card now days. It will probably take a year to recoup the cost of a 3080 Ti just part time mining, but it helps them. There are also people that do the cure mining thing, they are trying to help find cures for diseases and getting paid for doing it.
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Re: Cryptocurrency Miners Bought 700,000 GPUs in Q1 2021 2021/06/23 07:50:27 (permalink)
kram36
inkyvoxel
Do normal users mine cryptocurrency? I can't imagine it being profitible for a user with only 1 GPU and standard household electricity prices.


Yes gamers mine too. It helps pay for the ridiculous MSRP people have to pay to get a card now days. It will probably take a year to recoup the cost of a 3080 Ti just part time mining, but it helps them. There are also people that do the cure mining thing, they are trying to help find cures for diseases and getting paid for doing it.




Thanks for the info, I never really thought about it like that. If I ever get a modern graphics card (currently on a 6 year old, low-mid tier laptop), I'll be sure to look into doing it too!
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Re: Cryptocurrency Miners Bought 700,000 GPUs in Q1 2021 2021/06/23 08:46:13 (permalink)
no gpu
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brokenlaptop14
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Re: Cryptocurrency Miners Bought 700,000 GPUs in Q1 2021 2021/06/23 08:50:23 (permalink)
thats insane amount of gpus, why are they allowed to get that many?
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Re: Cryptocurrency Miners Bought 700,000 GPUs in Q1 2021 2021/06/23 08:52:10 (permalink)
brokenlaptop14
thats insane amount of gpus, why are they allowed to get that many?




It seems like they know who to talk to and have enough money to buy straight from the source.
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ty_ger07
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Re: Cryptocurrency Miners Bought 700,000 GPUs in Q1 2021 2021/06/23 12:39:26 (permalink)
brokenlaptop14
thats insane amount of gpus, why are they allowed to get that many?


Because they are a customer.  Why is everyone else allowed to get 2,800,000 GPUs?  Same reason.

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Xavier Zepherious
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Re: Cryptocurrency Miners Bought 700,000 GPUs in Q1 2021 2021/06/23 14:23:54 (permalink)
kram36
inkyvoxel
Do normal users mine cryptocurrency? I can't imagine it being profitible for a user with only 1 GPU and standard household electricity prices.


Yes gamers mine too. It helps pay for the ridiculous MSRP people have to pay to get a card now days. It will probably take a year to recoup the cost of a 3080 Ti just part time mining, but it helps them. There are also people that do the cure mining thing, they are trying to help find cures for diseases and getting paid for doing it.




 
yes regular gamers mine
 
I pay 14c a kwh  with two 3090's is was making about 1k a month for $100 worth of electricity (and that while i was gaming - i could have made more when there was real good prices)
 
after 3 months a card is paid off - in 6 months both (at least was before the price drop) so even if a card dies (which is under warranty) and wait for a replacement im ahead (you haven't lost anything really yet)
isn't it reasonable that your Boy BOX or gaming rig pays for itself somehow??? 
 
 
even with the current prices three cards earns me 1k a month
 
in reality your computer does not run 24/7 - most households it's a few hrs
so during the hrs you don't use the computer you could mine
 
you know it's actually easier on the parts to run 24/7 - because you don't get line spikes from power up and down
and you don't get the expansion and contraction from heating and cooling (metal fatigue) -ie cold colder joints
 
why do you think business used(and some still do) to keep PC's running all time
post edited by Xavier Zepherious - 2021/06/23 14:47:15


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mopar22
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Re: Cryptocurrency Miners Bought 700,000 GPUs in Q1 2021 2021/06/23 17:17:59 (permalink)
Xavier Zepherious
kram36
inkyvoxel
Do normal users mine cryptocurrency? I can't imagine it being profitible for a user with only 1 GPU and standard household electricity prices.


Yes gamers mine too. It helps pay for the ridiculous MSRP people have to pay to get a card now days. It will probably take a year to recoup the cost of a 3080 Ti just part time mining, but it helps them. There are also people that do the cure mining thing, they are trying to help find cures for diseases and getting paid for doing it.




 
yes regular gamers mine
 
I pay 14c a kwh  with two 3090's is was making about 1k a month for $100 worth of electricity (and that while i was gaming - i could have made more when there was real good prices)
 
after 3 months a card is paid off - in 6 months both (at least was before the price drop) so even if a card dies (which is under warranty) and wait for a replacement im ahead (you haven't lost anything really yet)
isn't it reasonable that your Boy BOX or gaming rig pays for itself somehow??? 
 
 
even with the current prices three cards earns me 1k a month
 
in reality your computer does not run 24/7 - most households it's a few hrs
so during the hrs you don't use the computer you could mine
 
you know it's actually easier on the parts to run 24/7 - because you don't get line spikes from power up and down
and you don't get the expansion and contraction from heating and cooling (metal fatigue) -ie cold colder joints
 
why do you think business used(and some still do) to keep PC's running all time


What are even some good programs that people use to mine? I looked into it years ago before i had anything close to being able to mine
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kram36
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Re: Cryptocurrency Miners Bought 700,000 GPUs in Q1 2021 2021/06/23 18:22:58 (permalink)
All I have to say is be diligent with what information you post on the forums.

What is not covered by this Limited Warranty

This Limited Warranty applies only to Products used in accordance with this Limited Warranty and EVGA's published documentation, and does not cover:

  • Products that are modified outside of factory specifications and/or not in factory condition.
  • Products with modification to the serial number and/or factory identification labels whether removed, relocated, falsified, defaced, damaged, altered or made illegible.
  • Damages to PCB (Printed Circuit Board) whether cut, scratched, warped, bent, cracked, dented or broken.
  • Any damages to the components, hardware and/or assembly of the Products including but not limited to damages caused as a result of neglect, abuse, accidents, misuse, or unusual physical, electrical or electromechanical stress (including due to uninterrupted use of the Products, or use of the Products for blockchain processing, cryptocurrency mining, or similar purposes)
https://www.evga.com/warranty/graphics-cards/
 
This I find kind of odd since EVGA up until this year rewarded people for folding under the EVGA folding name. Folding is harder on a GPU then mining is, well by an experienced miner that is.
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ty_ger07
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Re: Cryptocurrency Miners Bought 700,000 GPUs in Q1 2021 2021/06/24 07:26:59 (permalink)
mopar22
Xavier Zepherious
kram36
inkyvoxel
Do normal users mine cryptocurrency? I can't imagine it being profitible for a user with only 1 GPU and standard household electricity prices.


Yes gamers mine too. It helps pay for the ridiculous MSRP people have to pay to get a card now days. It will probably take a year to recoup the cost of a 3080 Ti just part time mining, but it helps them. There are also people that do the cure mining thing, they are trying to help find cures for diseases and getting paid for doing it.




 
yes regular gamers mine
 
I pay 14c a kwh  with two 3090's is was making about 1k a month for $100 worth of electricity (and that while i was gaming - i could have made more when there was real good prices)
 
after 3 months a card is paid off - in 6 months both (at least was before the price drop) so even if a card dies (which is under warranty) and wait for a replacement im ahead (you haven't lost anything really yet)
isn't it reasonable that your Boy BOX or gaming rig pays for itself somehow??? 
 
 
even with the current prices three cards earns me 1k a month
 
in reality your computer does not run 24/7 - most households it's a few hrs
so during the hrs you don't use the computer you could mine
 
you know it's actually easier on the parts to run 24/7 - because you don't get line spikes from power up and down
and you don't get the expansion and contraction from heating and cooling (metal fatigue) -ie cold colder joints
 
why do you think business used(and some still do) to keep PC's running all time


What are even some good programs that people use to mine? I looked into it years ago before i had anything close to being able to mine


It's not so much the program, but more the specific cryptocurrency you are interested in, and the pool you choose to mine with.  Ethereum has been the popular cryptocurrency to mine with GPUs for quite a while.  Phoenix miner used to be a popular program to use to mine Ethereum, but after its origin was put into question, NBMiner and Excavator have usurped it (I think).  Nicehash has been a popular pool to mine with, but there are other options out there.
Switching pools and switching mining programs is really easy.  You just pick one, try it, and then decide over time if there could be better options.
It seems complicated at first, but it really is so simple, it's crazy.
Like, literally, you can download NBMiner, type this into command prompt, and you are mining.
nbminer.exe -a ethash -o ethproxy+tcp://us2.ethermine.org:4444 -u 0x077cEDe6d11411805F42ea53e17269C3dC2a28A2.gtx1080 --memory-tweak 2 --intensity 100 --fee 1


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#41
kram36
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Re: Cryptocurrency Miners Bought 700,000 GPUs in Q1 2021 2021/06/24 07:35:03 (permalink)
ty_ger07
It's not so much the program, but more the specific cryptocurrency you are interested in, and the pool you choose to mine with.  Ethereum has been the popular cryptocurrency to mine with GPUs for quite a while.  Phoenix miner used to be a popular program to use to mine Ethereum, but after its origin was put into question, NBMiner and Excavator have usurped it (I think).  Nicehash has been a popular pool to mine with, but there are other options out there.
Switching pools and switching mining programs is really easy.  You just pick one, try it, and then decide over time if there could be better options.
It seems complicated at first, but it really is so simple, it's crazy.
Like, literally, you can download NBMiner, type this into command prompt, and you are mining.
nbminer.exe -a ethash -o ethproxy+tcp://us2.ethermine.org:4444 -u 0x077cEDe6d11411805F42ea53e17269C3dC2a28A2.gtx1080 --memory-tweak 2 --intensity 100 --fee 1



Curious, what does the --fee 1 command do?
#42
ty_ger07
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Re: Cryptocurrency Miners Bought 700,000 GPUs in Q1 2021 2021/06/24 08:12:43 (permalink)
kram36
ty_ger07
It's not so much the program, but more the specific cryptocurrency you are interested in, and the pool you choose to mine with.  Ethereum has been the popular cryptocurrency to mine with GPUs for quite a while.  Phoenix miner used to be a popular program to use to mine Ethereum, but after its origin was put into question, NBMiner and Excavator have usurped it (I think).  Nicehash has been a popular pool to mine with, but there are other options out there.
Switching pools and switching mining programs is really easy.  You just pick one, try it, and then decide over time if there could be better options.
It seems complicated at first, but it really is so simple, it's crazy.
Like, literally, you can download NBMiner, type this into command prompt, and you are mining.
nbminer.exe -a ethash -o ethproxy+tcp://us2.ethermine.org:4444 -u 0x077cEDe6d11411805F42ea53e17269C3dC2a28A2.gtx1080 --memory-tweak 2 --intensity 100 --fee 1



Curious, what does the --fee 1 command do?


It sets the dev fee to 1%.  It should be the default for ethereum, but just to be sure....
The dev fee is the amount of time that the programs spends mining for the developer of the program, which pays for their efforts.

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#43
kram36
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Re: Cryptocurrency Miners Bought 700,000 GPUs in Q1 2021 2021/06/24 08:29:41 (permalink)
ty_ger07
kram36
ty_ger07
It's not so much the program, but more the specific cryptocurrency you are interested in, and the pool you choose to mine with.  Ethereum has been the popular cryptocurrency to mine with GPUs for quite a while.  Phoenix miner used to be a popular program to use to mine Ethereum, but after its origin was put into question, NBMiner and Excavator have usurped it (I think).  Nicehash has been a popular pool to mine with, but there are other options out there.
Switching pools and switching mining programs is really easy.  You just pick one, try it, and then decide over time if there could be better options.
It seems complicated at first, but it really is so simple, it's crazy.
Like, literally, you can download NBMiner, type this into command prompt, and you are mining.
nbminer.exe -a ethash -o ethproxy+tcp://us2.ethermine.org:4444 -u 0x077cEDe6d11411805F42ea53e17269C3dC2a28A2.gtx1080 --memory-tweak 2 --intensity 100 --fee 1



Curious, what does the --fee 1 command do?


It sets the dev fee to 1%.  It should be the default for ethereum, but just to be sure....
The dev fee is the amount of time that the programs spends mining for the developer of the program, which pays for their efforts.


Yes I know what the dev fee is lol. I was just wondering why you placed it in there when as you said for Ethereum, the dev fee on NBminer is 1%.
 
Had me curious.
#44
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