Riding the Crypto wave

[phill]

I'll see if I can get it running, ETC is doing my head in.. It's just too difficult to what it was

I didn't realise you had so many cards as you mentioned above!! I hope the electric is free!! lol

 

[cdawall]

I'll see if I can get it running, ETC is doing my head in.. It's just too difficult to what it was

I didn't realise you had so many cards as you mentioned above!! I hope the electric is free!! lol

It pays for itself pretty easily I'm at 9 cent a kw/h with delivery and fees

 

[phill]

I'm paying about 13.5p a unit, that's about 18.5 cents a kw/h It's a little pricey here lol Not much sun either so I can burn through a lot of power without trying much... Which reminds me... I'll go check what I have used on the miner since I have rest the wattage meter.....

 

[yotano211]

This is the estimator for my current 6hr hashrate which is 16.8kh/s. I don't have an earnings chart to compare it to USD. This is only like 24-28 cards running and mostly Nvidia which isn't the perfect choice for this coin. (1070 heavily outperformed by a 470/480)

This chart is only with 24-28 card?

 

[cdawall]

This chart is only with 24-28 card?

Yes, it is tanking with difficulty increases, but coin value is going up so that might even put here soon.

 

[Divide Overflow]

For those still looking for an alternative to NiceHash: I've found a new one. It's called MiningPoolHub

https://miningpoolhub.com/

This isn't for the "Push Button, Get Bitcoin" crowd... It's a bear to set up. The easiest way I've found is to download the "Multipoolminer" program, that can be found on the site, (Read the FAQ before beginning) and pointing that at MiningPoolHub. ...

Nice find Papa. It wasn't all that hard to setup, but their site is absolutely horrid for information on your mining status and balances. With credits and credited for auto exchange figures on top of delays for transactions appearing, it's almost impossible to get a quick read on profitability and performance.

 

[r9]

Couple days ago I bought GTX 970 for $100 for purpose of mining.
From what I could find on the net I was expecting close to gtx 1060 peformance, but its not even close.
I'm only getting 10 MH/s instead 20+ MH/s what a lot of people are getting.
Enabled Optimized for Compute.
I tried different miners and drivers. I even matched peoples exact Driver/Miner setup.
I also tried Simple mining OS for NV which should be already optimized.
I'm suspecting that it might be something with the ethereum algorithm that has changed.
The newest video on youtube was 6 months old that the card was doing 20+MH/s.
I'm just surprised that that I wasn't able to find any definitive answer.

 

[cdawall]

Couple days ago I bought GTX 970 for $100 for purpose of mining.
From what I could find on the net I was expecting close to gtx 1060 peformance, but its not even close.
I'm only getting 10 MH/s instead 20+ MH/s what a lot of people are getting.
Enabled Optimized for Compute.
I tried different miners and drivers. I even matched peoples exact Driver/Miner setup.
I also tried Simple mining OS for NV which should be already optimized.
I'm suspecting that it might be something with the ethereum algorithm that has changed.
The newest video on youtube was 6 months old that the card was doing 20+MH/s.
I'm just surprised that that I wasn't able to find any definitive answer.

That card just isn't good for ethash based stuff. Mine equihash, nist5, lyra2rev coins and it does a lot better. Pascal is the only nvidia design that does well with ethash coins.

 

[r9]

That card just isn't good for ethash based stuff. Mine equihash, nist5, lyra2rev coins and it does a lot better. Pascal is the only nvidia design that does well with ethash coins.

I didn't appreciated Nicehash until was gone. lol
I wasn't even paying attention what was mining most of time.
I kind of suspected that it's to do with etherium.
I just tried to stay to ETH and SIA so I don't have to manage too many pools and wallets.
But per your advice just tried Zcash and the profitability looks much better.
And I also have r9 280 that are affected by the same issue and that AMD mining driver that helps with rx480 doesn't do anything for the r9 280.
I will try zcash on them too.
Thanks cdawall ur the bestest. lol

 

[cdawall]

the 280 is a 430h/s card in cryptonight

 

[dorsetknob]

The Bit Coin Bubble Road map
Where are we now you can Trade BitCoin futures

 

[R-T-B]

The Bit Coin Bubble Road map
Where are we now you can Trade BitCoin futures

First time I saw that people were saying $20.00 bitcoin was a "bubble" lol. Same image.

 

[cdawall]

"bitcoin is a bubble"

 

[notb]

"bitcoin is a bubble"
[cut]

Oh man... this is rubbish. :-D
Why do you quote this sh.tty analysis here? Do you understand the techniques used? Because I'm pretty sure the author doesn't.

 

[cdawall]

Oh man... this is rubbish. :-D
Why do you quote this sh.tty analysis here? Do you understand the techniques used? Because I'm pretty sure the author doesn't.

OH I do I think it's about as useful as any other chart like that you know like the BTC bubble one, but here is to the hope that it hits 1 million a coin.

 

[yotano211]

I have 3 years has a stock analyst and I can tell you that any bitcoin chart is completely wrong. BTC doesnt follow any wall street market chart, it seems to follow some basic charts but nothing that I am trained in.
I dont care, I'll still invest in cryptocurrencies and contunie mining and building mining machines for people.

 

[R-T-B]

I have 3 years has a stock analyst and I can tell you that any bitcoin chart is completely wrong. BTC doesnt follow any wall street market chart, it seems to follow some basic charts but nothing that I am trained in.
I dont care, I'll still invest in cryptocurrencies and contunie mining and building mining machines for people.

As I have shown repeatedly here, I am great at guessing crypto trends. The irony is when I am actually doing it for money, the stress makes it very unworthwhile for me. So instead I just sit here and speculate. LOL

 

[cdawall]

I have 3 years has a stock analyst and I can tell you that any bitcoin chart is completely wrong. BTC doesnt follow any wall street market chart, it seems to follow some basic charts but nothing that I am trained in.
I dont care, I'll still invest in cryptocurrencies and contunie mining and building mining machines for people.

Oh you hush with your logic. Obviously this is exactly like a stock and not a currency or better yet a cryptocurrency.

 

[yotano211]

Its a stock that increases 30% for 5 minutes or litecoin which increases so far 63% today, but the next day it will decrease 40%. What a wild ride these "cryptocurrencies" have.

 

[notb]

OH I do I think it's about as useful as any other chart like that you know like the BTC bubble one, but here is to the hope that it hits 1 million a coin.

Well.. technical analysis kind of works, but there is some idea behind it that doesn't have to be true in a particular case.
Mathematically speaking: it's just a simplified approach that assumes there is a specific stochastic process that describes the stock price. In other words: you're assuming it's not fully random.
So if you analyze the stock, estimate some parameters and so on, technical analysis could actually work.

Sadly, what happened in the discussed graph: the author has simply drawn some random lines.

You think this is funny? Think again... What actuaries do for living is basically this:

It's a triangle method (you're assuming reality will develop like it did in the past). In year 2016 you had 3 losses reported, but someone else came to you a year later (you know... a year after the accident he decided that losing a foot is an issue). For 2017 you have 2 losses already. How many in total will be reported after the next year? 4/3*2 ~= 2.67, obviously.
So on daily basis I'm doing sh*tty stuff like this, but thankfully, there is a proper mathematical theory which states that sometimes this actually works.

 

[R0H1T]

Its a stock that increases 30% for 5 minutes or litecoin which increases so far 63% today, but the next day it will decrease 40%. What a wild ride these "cryptocurrencies" have.

This is nothing, with BTC F&O people will play roulette with a deck of cards

 

[R-T-B]

This is nothing, with BTC F&O people will play roulette with a deck of cards

Actually, what he described is a pretty wild ride even for BTC. Though hardly unheard of.

 

[R0H1T]

Actually, what he described is a pretty wild ride even for BTC.

I guess but F&O adds another layer of unneeded volatility.

 

[notb]

This is nothing, with BTC F&O people will play roulette with a deck of cards

Some will, but who are we to judge? Guns (like futures) where originally created as a safety measure (i.e. you could defend yourself from an enemy stronger or bigger - something that hadn't been true for melee combat). And look what happened with this concept...

Few months ago I described here a hedging strategy that lowers mining risk (revenue variability). But without derivatives it's a pretty costly and difficult endeavour.
With regulated futures / options it suddenly becomes very easy. You want to mine $10 a day for the next month (not the random price that the market serves you)? You can buy a futures contract that will guarantee just that. It's really a standard issue in production. Coal mines buy coal futures. Food manufacturers buy rice futures. Car manufacturers buy futures for whatever they can (metal, rubber, oil). And, obviously, everyone buys currency futures if they're heavily dependent on foreign trade.

If we want cryptocurrencies to be treated seriously and useful in the future, we need derivatives - they will stabilize the market and drawn many more commercial partners.
Sure: they will also be used by speculators, but it's almost impossible to prevent.

I guess but F&O adds another layer of unneeded volatility.

On the contrary. They will stabilize cryptos.
Cryptocurrencies we discuss here (like BTC) are not supported by a state nor a corporation. There is no one I could play against using a leveraged derivative. There is no economic or industrial data that says how much a single BTC is worth. It's all pretty erratic.
Derivatives won't magically fix this. But they could result in large players joining the market (states, banks, other firms using BTC).

Just an example for you:
Steam has just withdrawn support of BTC, because it's too volatile for them. They don't want to take the risk. But if they could buy a BTC derivative, they would be able to stabilize their BTC prices.

 

[R-T-B]

Steam has just withdrawn support of BTC, because it's too volatile for them. They don't want to take the risk. But if they could buy a BTC derivative, they would be able to stabilize their BTC prices.

I agree with most of your post, but far more an issue for steam was the outragous transaction fees I think. The rest is my views to a tee.