ty_ger07
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Re: bitcoin > $23,000
2021/01/07 16:44:41
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It's worth a crazy amount, but at the same time, it's almost worthless.
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veganfanatic
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Xavier Zepherious
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Re: bitcoin blows past $40,000
2021/01/08 14:51:21
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In considering starting a small mining farm
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veganfanatic
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Re: bitcoin blows past $40,000
2021/01/08 15:05:08
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with 7 billion on the planet, a supply of 18 million seems to be a short sighted supply
sure the fractions are used but the idea of a way too small max seems unsound
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guitarstar26
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Re: bitcoin blows past $40,000
2021/01/08 16:16:52
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veganfanatic
with 7 billion on the planet, a supply of 18 million seems to be a short sighted supply
sure the fractions are used but the idea of a way too small max seems unsound
That's a non-issue. It's divisible down to 0.0000001 BTC. There are 1,800,000,000,000,000 of those tiny BTCs in 18million. Also FYI the cap is 21million, not 18million. The issue with BTC is the network transfer limitations are awful. Fees and confirmation times suck on BTC. Many other cryptocurrencies are better for "replacing cash" as currency.
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veganfanatic
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Re: bitcoin blows past $40,000
2021/01/08 16:49:37
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Transaction times for bitcoin are very slow which makes it unsuitable as a currency
I have researched the technology and it is far to slow for modern economies
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MasterMiner
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Re: bitcoin blows past $40,000
2021/01/08 17:27:08
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Xavier Zepherious
In considering starting a small mining farm
I’m in!
I used to mine. Now I compute.
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MasterMiner
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Re: bitcoin blows past $40,000
2021/01/08 17:33:00
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4x 1080Ti hashes ~$17 usd a day.... that’s not $$$ to walk away from...
Hmmm...
I used to mine. Now I compute.
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veganfanatic
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Re: bitcoin blows past $40,000
2021/01/08 18:11:35
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MasterMiner
4x 1080Ti hashes ~$17 usd a day.... that’s not $$$ to walk away from...
Hmmm...
hardly worth getting the power bill paid
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MasterMiner
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Re: bitcoin blows past $40,000
2021/01/08 21:13:32
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I should note that’s *after* power bills. Net profit, not gross revenue.
I used to mine. Now I compute.
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veganfanatic
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Re: bitcoin blows past $40,000
2021/01/08 21:35:38
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MasterMiner
I should note that’s *after* power bills. Net profit, not gross revenue.
$17 will not even buy a weeks grub let alone pay for a place
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Cool GTX
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Re: bitcoin blows past $40,000
2021/01/08 21:39:53
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kram36
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Re: bitcoin blows past $40,000
2021/01/09 11:20:31
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veganfanatic
MasterMiner
I should note that’s *after* power bills. Net profit, not gross revenue.
$17 will not even buy a weeks grub let alone pay for a place
That's $17 per day, not per week. So a week would be $119 profit.
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veganfanatic
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Re: bitcoin blows past $40,000
2021/01/09 11:22:56
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kram36
veganfanatic
MasterMiner
I should note that’s *after* power bills. Net profit, not gross revenue.
$17 will not even buy a weeks grub let alone pay for a place
That's $17 per day, not per week. So a week would be $119 profit.
Even $119 per week is welfare level earnings. I figure the person with 78 RX 3080s is making slightly more than welfare.
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kram36
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Re: bitcoin blows past $40,000
2021/01/09 11:40:55
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veganfanatic
kram36
veganfanatic
MasterMiner
I should note that’s *after* power bills. Net profit, not gross revenue.
$17 will not even buy a weeks grub let alone pay for a place
That's $17 per day, not per week. So a week would be $119 profit.
Even $119 per week is welfare level earnings. I figure the person with 78 RX 3080s is making slightly more than welfare.
$119 per week is more than you make with your website, yet you still run it. An extra $119 per week in a person's pocket isn't anything to snuff at.
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ty_ger07
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Re: bitcoin blows past $40,000
2021/01/09 12:14:00
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kram36
veganfanatic
kram36
veganfanatic
MasterMiner
I should note that’s *after* power bills. Net profit, not gross revenue.
$17 will not even buy a weeks grub let alone pay for a place
That's $17 per day, not per week. So a week would be $119 profit.
Even $119 per week is welfare level earnings. I figure the person with 78 RX 3080s is making slightly more than welfare.
$119 per week is more than you make with your website, yet you still run it. An extra $119 per week in a person's pocket isn't anything to snuff at.
Minus whatever they owe for buying four GTX 1080 Ti video cards. That's negative X per Y duration until that investment is paid for. I'm just mining with stuff I already bought in the past for other reasons. Cryptocurrency is too volatile for me to be willing to mine as a long-term investment.
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veganfanatic
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Re: bitcoin blows past $40,000
2021/01/09 12:38:57
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I miner I know tells me that earnings are all over the dial on a day by day basis, so its impossible to predict future earnings
Hashing for transactions seems to be more common a friend told me, so once the bitcoins dry up it will be fee for verification from users
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baggins_face
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Re: bitcoin blows past $40,000
2021/01/09 12:51:32
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I've been looking at getting into mining with all the fuss about bitcoins and altcoins exploding in value, but its quite intimidating as the amount of conflicting information is overwhelming. It's hard to pass up though, as passive income is always welcome in my eyes.
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Xavier Zepherious
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Re: bitcoin blows past $40,000
2021/01/09 13:16:18
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i calculate CAN$500-700 a month on 2 cards I have makes me drool over getting a second 3090 - i have to add 4 new power circuits to house blowing breakers everywhere Foodi,microwave washing machine along with my two rigs and a few other circuits blow breakers - rigs get 1 circuit each- debating on going with 30-50 amp line rather than 15amp requires a new breaker panel - the old one too small
post edited by Xavier Zepherious - 2021/01/09 13:23:52
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ty_ger07
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Re: bitcoin blows past $40,000
2021/01/09 14:36:14
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Xavier Zepherious
i calculate CAN$500-700 a month on 2 cards I have
makes me drool over getting a second 3090 - i have to add 4 new power circuits to house blowing breakers everywhere
Foodi,microwave washing machine along with my two rigs and a few other circuits blow breakers -
rigs get 1 circuit each- debating on going with 30-50 amp line rather than 15amp
requires a new breaker panel - the old one too small
And if the value drops tomorrow, was it worth it?
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Xavier Zepherious
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Re: bitcoin blows past $40,000
2021/01/09 14:44:58
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i still have to make the house mods
making extra dough is icing on cake
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rjohnson11
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Re: bitcoin blows past $40,000
2021/01/09 15:02:51
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If bitcoin keeps increasing in price I expect supplies of upper level video cards to be even harder to find.
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veganfanatic
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Re: bitcoin blows past $40,000
2021/01/09 15:03:03
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data centers are know to use 8MW of power so wiring up some house is chump change
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MasterMiner
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Re: bitcoin blows past $40,000
2021/01/09 17:31:41
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veganfanatic
MasterMiner
I should note that’s *after* power bills. Net profit, not gross revenue.
$17 will not even buy a weeks grub let alone pay for a place
It won’t buy a Porsche 911 either, but $$$ is $$$. As others have noted that’s *per day* I’ll have real number by end of next week.
I used to mine. Now I compute.
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kram36
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Re: bitcoin blows past $40,000
2021/01/09 19:26:28
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baggins_face
I've been looking at getting into mining with all the fuss about bitcoins and altcoins exploding in value, but its quite intimidating as the amount of conflicting information is overwhelming. It's hard to pass up though, as passive income is always welcome in my eyes.
If you are still running the GTX 980 in your signature, you may not be profitable.
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veganfanatic
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Re: bitcoin blows past $40,000
2021/01/09 19:45:47
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Even most 14nm cards are hard pressed to break even so older 28nm hardware is definitely obsolete for mining. A GTX 980 can still be used for gaming but it's pretty much at the end of gaming road as well.
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MasterMiner
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Re: bitcoin blows past $40,000
2021/01/10 16:39:19
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The 1080Ti still competes remarkably well against the 3080 in real world (HASHING)
Also, you have to research the mining pool you join. Despite what nicehash and others say, you’ll find real mileage varies... usually to the downside.
As intriguing as it sounds. My vote is still no to gpu mining.
But 1 card (or maybe 2) for gaming. 3 or 4 for tinkering with AI, Machine Learning stuff.
Trying to justify buying these cards as anything other than a sunk cost is risky.
I used to mine. Now I compute.
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veganfanatic
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Re: bitcoin blows past $40,000
2021/01/10 16:47:14
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MasterMiner
The 1080Ti still competes remarkably well against the 3080 in real world (HASHING)
Also, you have to research the mining pool you join. Despite what nicehash and others say, you’ll find real mileage varies... usually to the downside.
As intriguing as it sounds. My vote is still no to gpu mining.
But 1 card (or maybe 2) for gaming. 3 or 4 for tinkering with AI, Machine Learning stuff.
Trying to justify buying these cards as anything other than a sunk cost is risky.
What cards did you use during the last run back when Pascal cards were in short supply. After the prices fell i was able to buy several cards to expand game benchmarks with
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MasterMiner
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Re: bitcoin blows past $40,000
2021/01/10 18:35:20
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I bought a bunch of 1080ti’s (12) almost right after their release in 2017 for straight-up BTC mining. But by that time ASIC’s had pretty much already taken over.
Mined Eth for awhile to recoup some of the $$$ for cards and make a little bit of $$$.
Overall wasn’t worth it imho.
I used to mine. Now I compute.
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veganfanatic
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Re: bitcoin blows past $40,000
2021/01/10 18:44:05
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MasterMiner
I bought a bunch of 1080ti’s (12) almost right after their release in 2017 for straight-up BTC mining. But by that time ASIC’s had pretty much already taken over.
Mined Eth for awhile to recoup some of the $$$ for cards and make a little bit of $$$.
Overall wasn’t worth it imho.
Bitcoin uses Ant miners now which have gone through some revisions not sure if they are worth the cost either any of the cards left?
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