CryptoCurrency Mining with GPUs *spawn*

Florida Man is arrested for mining cryptocurrency on gov't computers for own profit; also purchasing appx 2 dozen GPUs on gov't dime; raising electricity utility bill by 40%:

http://www.newsweek.com/florida-dep...rested-improper-mining-bitcoin-agencys-845330

Comment: I totally did not know Florida Man was this tech-knowledgeable! Usually, Florida Man is known for pulling stunts like ending up in the morgue for defiantly taking a header into croc-infested waters and stuff like that... :p
 
Grall said:
Florida Man is arrested for mining cryptocurrency on gov't computers for own profit; also purchasing appx 2 dozen GPUs on gov't dime; raising electricity utility bill by 40%:

http://www.newsweek.com/florida-dep...rested-improper-mining-bitcoin-agencys-845330

Comment: I totally did not know Florida Man was this tech-knowledgeable! Usually, Florida Man is known for pulling stunts like ending up in the morgue for defiantly taking a header into croc-infested waters and stuff like that... :p
Click to expand...
This reminds me of the David McOwen case from 2001. The state of Georgia tried to run him through the wringers (15 years of jail), and that was even though he wasn't making a profit from an of it. I can't even begin to imagine what they'll do to this guy.:eek:
 
I pity those poor russians who let themselves get caught. They probably won't have such a nice time in jail, day for day, as the Florida man...

http://www.bbc.com/news/world-europe-43003740
(older news, feb 9th)
But then, when you connect a top-secret offline nuclear warhead facilitie's supercomputer to the net to mine coins, you probably deserve more than just a dozen hours of social work. ;)
 
CarstenS said:
I pity those poor russians who let themselves get caught. They probably won't have such a nice time in jail, day for day, as the Florida man...

http://www.bbc.com/news/world-europe-43003740
(older news, feb 9th)
But then, when you connect a top-secret offline nuclear warhead facilitie's supercomputer to the net to mine coins, you probably deserve more than just a dozen hours of social work. ;)
Click to expand...

They missed an opportunity. Could have used a blockchain to create an ICO for MADCoin, where coins can be redeemed for fractional shares of warhead yield.
 
ToTTenTranz said:
XMR was $350 just a week ago.
Damn...
Click to expand...

I am a newbie small time miner and had mined a little less than 3 XMR by early February 2018.

My mined XMR had the following price at time of them being sent from Nanopool to my XMR wallet:

XMR 1: 2017-12-30 - $306 USD
XMR 2: 2018-01-18 - $324 USD
XMR 3: 2018-02-05 - $167 USD

The $167 price for one XMR in early February was a wake up call for me in that the value of XMR which was at $548 just this January 8th could fall so far so fast.

I made the decision at that time to reduce my mining hardware costs by making a profit on selling the two Vega 56's that I had purchased at MSRP of $399 or $810 total with shipping in early November. I sold the two Vega 56's on eBay and after all fees/shipping/insurance produced a profit of $600 above my purchase price. I also made $130 in buying and reselling a new Radeon 64 FE. I also have two new GTX 1070 Ti's coming that I will resell and should clear about $190 in profit.

I also decided to sell my three XMR when/if the value got back into the $300+ range.

On February 22nd I transferred 0.496 XMR from My Monero wallet to Kraken. This was my first use of Kracken so I wanted to do a small transfer first. The transfer went fine. 0.026 XMR was taken from My Monero wallet as a fee (5.2%) for the transfer.

On February 23rd I transferred 2.478 XMR from My Monero wallet to Kraken. 0.028 XMR was taken from My Monero wallet as a fee (1.1%) for the transfer.

The end result was 2.92 XMR on Kracken and that it is better to do larger transfers to reduce My Monero wallet fees.

On March 2nd I traded the 2.92 XMR to 0.08889 BTC on Kracken at market price. Kracken had taken 0.0002317 BTC from the trade for it's fee.

I then sent 0.08889 BTC to Coinbase. Kracken took 0.0005 BTC for the transfer fee which resulted in 0.08839 BTC in my Coinbase wallet.

I then sold 0.08 BTC on Coinbase and after the $13.05 USD Coinbase fee I deposited $862 into my bank account. I kept 0.00839 BTC for other purchases that I use BTC for.

I am now comfortable in the cost of hardware that I use to mine XMR. Four Dell T3610 workstations that I paid $400 total. The Supermicro dual Opteron 6348 server that only cost me $253. The 15 Quadro 600's at about $16 each, two GTX 750 Ti's for $54 total and seven GTX 750's that cost me $40 each.

Even If the crypto market crashed and burned I would be able to recover and probable even make a profit selling the above hardware.

By the way I highly recommend this free software for tracking all crypro transactions: https://cointracking.info
It makes doing my taxes so easy.

It also was an eye opener in that all those fees do eat into what you actually get when after you mined a coin and want to cash it out.

Summery of fees:

XMR-Stak: 2% in Hashrate
Nanopool: 1% in XMR
My Monero Wallet XMR withdrawal: 1.1% - 5.2% in XMR
Kracken trade XMR to BTC : 2.6% in BTC
Kracken BTC wallet withdrawal: 0.6% in BTC
Coinbase Sell BTC to USD: 1.5% in USD
 
Free lunch is over?

Coinbase told its customers on Friday that it plans to comply with a court order and hand over about 13,000 customers’ data to the IRS within 21 days. The IRS made the request back in November 2016, asking for the Coinbase records of all the people who bought bitcoin from 2013 to 2015 to seek out those who were evading cryptocurrency taxes. Anyone affected by the order should now have received an email from Coinbase to that effect.
Click to expand...

https://www.theverge.com/2018/2/26/17055264/coinbase-cryptocurrency-tax-irs-compliance-court-order
 
Being an owner of the Frontier Edition I wouldn't get my hopes up :p

At least I can enjoy my great undervoltage due to better binning.
 
Pressure said:
Being an owner of the Frontier Edition I wouldn't get my hopes up :p

At least I can enjoy my great undervoltage due to better binning.
Click to expand...

Another problem I had with the August blockchain driver is that it wouldn't let the user set the vcore and core clocks for all states, only for states 6 and 7.
This means by pushing the core/vcore slide all the way down to -30% would get me ~980MHz for S6 and ~1100 for S7, but S5 would stupidly stay at 1400MHz. During mining, the card kept switching between 1400MHz (S5) and 980MHz (S6), which I bet it was awfully inefficient.
Hopefully this new driver will let me do the automatic adjust for all states and my card will spend even less power and heat, which will also let me push the memory clocks a bit up. Or just let me lower the fan down to 2000 RPM or less.

(Yes, I was too lazy to mess with registry settings for mining because I wanted the GPU to be ready to play games at any time.)
 
Mize said:
Word of imminent release of Bitmain ASIC miner for ETH to send AMD stock tumbling...

https://www.cnbc.com/amp/2018/03/26...ew-cryptocurrency-mining-chip-from-china.html
Click to expand...

You tell me @Mize, but hasn't ETH been unprofitable for AMD GPUs for quite some time now?

This seems like the kind of non-news that smell like propaganda for selling shorts a mile away.

First the CTS debacle, now it's ETH ASICs, tomorrow will be cryptonight's ASICs..

Except cryptonight might actually be safe from ASICs. There's word that Bitmain has been using cryptonight ASICs for a while now and come April 5th's algorithm change those will become useless and the network hashrate will drop considerably, giving CPU/GPU miners a large boost in PoW rewards.
 
Au contraire, it's today's cryptonight's ASICs and tomorrow's ETH ASICs. XMR is explicitly forking to kill of the ASIC currently on the market : https://getmonero.org/2018/02/11/PoW-change-and-key-reuse.html

As for ETH ASICs, I'll believe it when I see it. It would be IMO, an impressive feat from Bitmain and the likes to create a high speed memory controller competing with the mature HBM and GDDR implementations on the market
 
entity279 said:
It would be IMO, an impressive feat from Bitmain and the likes to create a high speed memory controller competing with the mature HBM and GDDR implementations on the market
Click to expand...
They're claiming 32x1Gb DDR3 chips for each ASIC, and the rumored "F3" box would have 6 of those.
So 32*16bit = 512bit DDR3 for each ASIC, at a total of 8GB.
At 2133MT/s it should be 136.5GB/s for each ASIC.
Rumors point to ~200MHash/s on each ASIC.

Not too shabby on bandwidth, but also a bit far away from the >200GB/s that GPUs who reach 20-30MHash/s get.
But I guess they could have strategically placed caches to increase effective bandwidth for the specific task of mining ETH.
It is, after all, a fully dedicated ASIC.
 
Mize said:
Word of imminent release of Bitmain ASIC miner for ETH to send AMD stock tumbling...

https://www.cnbc.com/amp/2018/03/26...ew-cryptocurrency-mining-chip-from-china.html
Click to expand...

It's like those almost-daily hack-job financial articles that try to link AMD and Nvidia stock prices to Bitcoin volatility despite the fact that the hardware for either has not been relevant to Bitcoin mining for years. We need to keep in mind that lately vast majority of financial "reporting" is not designed to cover the news but rather to influence the price. What used to be research is now thinly (if at all) veiled advocacy.
 
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