The State of Cryptocurrency

[ratirt]

I want to see Ray Traced bitcoin otherwise I don't care about mining. Actually it pisses me off. I remember the GPUs' prices going up so damn much and I hated it.

 

[Mescalamba]

I want to see Ray Traced bitcoin otherwise I don't care about mining. Actually it pisses me off. I remember the GPUs' prices going up so damn much and I hated it.

Unsure how you mean it, but there was some development around using tensor cores for ETH mining, just didnt seem to work for much ppl (if anyone).

 

[ratirt]

Unsure how you mean it, but there was some development around using tensor cores for ETH mining, just didnt seem to work for much ppl (if anyone).

Actually I started with this as a joke. Meaning a coin which will be RayTraced since it's digital. Now that you have mentioned it, does the RTXs' have better scaling in mining than GTX cards? I didn't look to this to be honest and I'm not sure. From what you're saying it should be better with tensor cores.

 

[Mescalamba]

Actually I started with this as a joke. Meaning a coin which will be RayTraced since it's digital. Now that you have mentioned it, does the RTXs' have better scaling in mining than GTX cards? I didn't look to this to be honest and I'm not sure. From what you're saying it should be better with tensor cores.

About same, tweaked 1080 Ti (there is special registry hack for that) does around 50 Mh/sec in ethash, RTX 2080 Ti does 50 too.

Now question is if same Red Pill hack could be used on RTX or not. Kinda depends if GDDR6 has optimised internal latency settings or not (thats whole thing of that "hack" for 1080 Ti).

RX 64 does around 45 Mh/sec.

And RVII does.. 90 Mh/sec, so if you want to mine and dont mind noise (nobody who mines does) then RVII is best option by far. Its so efficient that if you get electricity price under 0.15 cent for KWh, you actually gain tiny bit of USD every month by mining. Ofc, its absolutely pointless since gain is so small that its just not worth it.

As far as I know, tensor cores mining doesnt work ATM.

 

[FordGT90Concept]

Crypto bear market threatens to last as potential token supply weighs

 

[R-T-B]

special registry hack

Maybe borderline excessively specific, but it wasn't a registry hack but a closed source program that ran in the background and did god knows what.

I know because I tried to reverse engineer it and only found really strange code. It had something to do with memory timings though.

 

[hat]

Why are we even talking about Radeon VII hashrate? My two 1070s right now get around 60. If Radeon VII gets 90, in the current market, you get what, a dollar per day? Congrats! I don't see anyone gobbling these things up to do mining when you got over 2 years ROI in a pathetic market. Not to mention, there seems very few to go around, anyway...

I'm still mining because the electricity doesn't bother me and I already have my hardware... hoping for BTC to go up at some point in the future. I wouldn't be adding more hardware...

 

[Mescalamba]

Why are we even talking about Radeon VII hashrate? My two 1070s right now get around 60. If Radeon VII gets 90, in the current market, you get what, a dollar per day? Congrats! I don't see anyone gobbling these things up to do mining when you got over 2 years ROI in a pathetic market. Not to mention, there seems very few to go around, anyway...

I'm still mining because the electricity doesn't bother me and I already have my hardware... hoping for BTC to go up at some point in the future. I wouldn't be adding more hardware...

Probably cause its only card that can do it atm and you can buy it with reasonable amount of money.

Also its one of saving graces of RVII.

 

[ratirt]

About same, tweaked 1080 Ti (there is special registry hack for that) does around 50 Mh/sec in ethash, RTX 2080 Ti does 50 too.

Now question is if same Red Pill hack could be used on RTX or not. Kinda depends if GDDR6 has optimised internal latency settings or not (thats whole thing of that "hack" for 1080 Ti).

RX 64 does around 45 Mh/sec.

And RVII does.. 90 Mh/sec, so if you want to mine and dont mind noise (nobody who mines does) then RVII is best option by far. Its so efficient that if you get electricity price under 0.15 cent for KWh, you actually gain tiny bit of USD every month by mining. Ofc, its absolutely pointless since gain is so small that its just not worth it.

As far as I know, tensor cores mining doesnt work ATM.

I could mine but I'm really not interested in this. Although it's good to know stuff out this. 90Mh/sec for RVII. That's impressive.
It might be that the tensor cores wont be utilized for mining ever.

 

[CheapMeat]

Anyone else been mining lately just to warm up their room? :O

 

[R-T-B]

Anyone else been mining lately just to warm up their room? :O

Nah, my hearts just not in it like it used to be... not until I design a coin I like. And that'll probably never happen because lazy.

I did move my plasma screen back into the family room for heat though. God that thing is a furnace.

 

[hat]

Anyone else been mining lately just to warm up their room? :O

I've never stopped mining since I got my cards... but it does have the benefit of kicking some heat out to keep the room warm.

 

[Outback Bronze]

a coin I like

RTB coin?

 

[hat]

FroggyCoin?

 

[R-T-B]

lol no, as much as I would love to do something with frogs, I'd hope to make it distinct in more ways than just name.

One of my ideas was to make a proof of time based coin that issues itself, to tie into universal income which ma happen someday when our dear robots do everything for us. However, that's such a pipe dream right now I can't even fathom it. Plus I haven't conquered proof of identity/individuality yet.

 

[hat]

to tie into universal income which ma happen someday when our dear robots do everything for us.

I don't think it's going to work like that...

 

[R-T-B]

I don't think it's going to work like that...

Not with that attitude.

 

[Outback Bronze]

FroggyCoin?

Kermitcoin has a nice ring to it ; )

 

[dorsetknob]

Which cryptocurrency is safe right now to invest?

No cryptocurrency is inherently safe as a investment

they are all a speculative investment.

 

[Deleted member 158293]

Which cryptocurrency is safe right now to invest? I have been following during a few weeks. But still searching for a good one.

The entire crypto market just follows Bitcoin itself, make of that what you will.

Next Bitcoin block halving just a bit over 1 year away. Should get interesting then when Bitcoin block creation finally falls below reported USD inflation.

 

[notb]

Which cryptocurrency is safe right now to invest? I have been following during a few weeks. But still searching for a good one.

Since you live in Bangladesh, why not simply put that money on a bank deposit? How much will you get? 8% yearly?
In many developed countries people would be happy earning so much on stock market.

Cryptocurrencies have almost no value. The stock price is artificial. It can move up or down without any reason. If you want to bet on it, fine.
But if you're into sport betting, it should be more profitable.

 

[R-T-B]

Cryptocurrencies have almost no value.

The value is in the network of vendors that trade it. Which is admitedly, very thin and only getting thinner right now.

 

[Space Lynx]

The value is in the network of vendors that trade it. Which is admitedly, very thin and only getting thinner right now.

Yet in the last 7 days big names have said they still think Bitcoin is the future.

Elon Musk said a few days ago Bitcoin is amazing and the future.
CEO of Twitter on Joe Rogan's podcast said he has a lot of Bitcoin and thinks its still the future.
Earlier today the VP of IBM stated Bitcoin is still the future, and he expects it to hit 1 million per coin someday still.


That being said, I think it's all talk, but humans are very irrational... so if it ever starts to rise again fast, it is very possible many people might try to hit the bandwagon same as last time, except this time it will be more well known so that means more people... I am considering buying 1 coin just for giggles, but I don't know yet. That is a lot of money to get burned on if it is a bad bet. lol (even just 1 coin at 5 grand I mean, that is a lot of money to me)

 

[notb]

The value is in the network of vendors that trade it. Which is admitedly, very thin and only getting thinner right now.

1) The value may be based on BTC being a payment method. As you said, the group of accepting parties is small and shrinking.
Also, it has to be said that Bitcoin's value is coming from how much it is faster and cheaper than other methods. These methods are improving over time. Bitcoin isn't.
I assume we all understand that if traditional transfers were to catch up - for example simply because they're also based on a distributed ledger (-> J.P. Morgan), value of Bitcoin would be near zero.
2) I said "may be based" earlier, because we don't really know how to value this. I'd assume there have been thousands of attempts all over the world. I've read 3 large publications lately just from this year PhD candidates from my university. It's all theoretical however. We don't even know whether the actual value is lower or higher than current BTC price - let alone by how much.

Yet in the last 7 days big names have said they still think Bitcoin is the future.

Elon Musk said a few days ago Bitcoin is amazing and the future.
CEO of Twitter on Joe Rogan's podcast said he has a lot of Bitcoin and thinks its still the future.
Earlier today the VP of IBM stated Bitcoin is still the future, and he expects it to hit 1 million per coin someday still.

I'd say that Bitcoin (blockchain in general) has been such a hot topic for the last 2 years, that at any given moment in that period you could find 3 important tech managers that said something similar during the previous week.
Also, Elon Musk says whatever he wants to say. The guy doesn't even understand the responsibility he has when talking about companies he owns. Citing him seems pointless.
The anonymous "VP of IBM" you've mentioned is Lund, their Head of Blockchain. I'd assume he is simply fascinated by this subject, so I'm not surprised by his hopes. It's also in his interest to talk about it.
I have such a limited interest in Twitter, that I haven't known who the CEO is until now. I don't know this guy. But he'd be better of focusing on his company's financials.

I think it's worth to notice that all of them are in the tech sector. And we know many tech companies see blockchain as a great new product they could sell. The question is: who will they sell it to? The interest from outside of the tech sector is really slim.
If you've given me 3 names of managers from lets say: General Motors, Tesco and Airbus - talking about Bitcoin, that would be quite amazing.

But this is really funny to watch. Someone important says Bitcoin is the future and the whole crypto community gets a huge orgasm (yes, I've noticed the headlines). Like if this was the first time they've heard it.

 

[Space Lynx]

Well said @notb

I never thought of it from that perspective, you are indeed making a lot of sense. I don't have enough savings to be wasting it on crypto, if I had more money to play with I might roll the dice, but I prefer to keep it nice and safe in the bank and just be careful with what I spend my money on, life is much easier that way I am learning, greed has destroyed a lot of my friends over the years, that dopamine release of the next thrill.