CryptoCurrency Mining with GPUs *spawn*

Cryptocurrency Developers Are Protecting AMD And Nvidia's Lucrative Ethereum Tailwind
At first glance, Antminer E3 looks like a real threat to AMD and Nvidia's pricey (and hard to find) Ethereum-mining discrete GPUs. Fortunately for AMD and NVDA investors, cryptocurrency miners are not yet enthusiastic in pre-ordering the Antminer 3. This is because Ethereum Foundation developers Piper Merriam and Vlad Zamfir already proposed a hard fork to fight ASIC hardware miners.

Merriam and Zamfir's hard fork is similar to the reaction of Monero developers after Bitmain also unveiled its Monero-specific ASIC hardware miner, Antminer X3. Like Ethereum, Monero is a GPU-centric cryptocurrency and its developers declared war against Bitmain ASIC miners last February. Monero's developers explained in a blog post how they will issue regular updates to render $800 Bitmain ASIC miners obsolete.

Bitmain's attempt to expand its ASIC business into Ethereum and Monero is going to face a Kamikaze-level of resistance from cryptocurrency developers. China has the cheapest electricity rates and largest solar farms. Without drastic measures, Bitmain will likely dominate Ether/Monero mining like it did with Bitcoin. This reality is why Ethereum and Monero developers are now working hard to disrupt Bitmain's ambitious expansion plan.
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https://seekingalpha.com/article/41...08143ee0a8f3bc05c3cf78743b54a60&uprof=82&dr=1

 
A1xLLcqAgt0qc2RyMz0y said:
Right now power usage (and heat) is an issue and I am addressing that by installing two 240 Volt 20 Amp circuits to power two 16 Amp PDUs to power six servers that will be installed in my garage. I have a very large workbench with a wall mounted AC unit above it. I plan to put thermal curtains over the workbench so that the AC can cool the servers in the summer months.

This article explains why to use 240 VAC over 120 VAC household circuits.

Density – Electrical 102
http://www.cointainer.life/2018/02/22/density-electrical-101

Of the systems above I will be selling the Supermicro Server and the Dell T5600 and adding the GTX 750's to the HP DL580's.

I also have a couple of Dell R815's with quad 12-core Opteron 6234 processors that I plan to bring online.
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That's a shit load of equipment. I suppose you are investing rather than cashing out every month as the electricity cost must be substantial. Especially on 120V.

I'm in Europe, so we already have 240V and 400V in all houses and apartments.
 
Pressure said:
That's a shit load of equipment. I suppose you are investing rather than cashing out every month as the electricity cost must be substantial. Especially on 120V.

I'm in Europe, so we already have 240V and 400V in all houses and apartments.
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Here in the USA we do seem backwards when it comes to residential electrical power and not going with the metric system in the 70's. The trouble is that once things become ingrained it is very difficult to change.

As for the equipment some was bought to be resold like the Dell T5600. Others were bought and parts inside were resold to make the systems nearly free (the four Dell T3610's). Others were bought dirt cheap for evaluation (the Supermicro Server). The two HP Z400 are also less than zero cost.

Right now I am standardizing on the HP DL580 G7's, the four Dell T3610's and two Dell R815 Servers. The others will be resold.

The reason for the selection I am keeping is because of the very high hash rates on the processors (DL580's, R815's) and high number of PCIe slots (11 on DL580's, 5 on T3610's).

I am also keeping the two Z400's as they house the three Vega 56's.

Going with the 240 VAC project in my garage will allow me to move the three DL580's and the two R815's there saving me money in electrical and AC costs.

As for cashing out or investing I am doing a little of both. Since I have to pay taxes on the mined coins and the higher electrical bill I split the difference and sell half when I have accumulated 4 XMR which at my hash rate is about once a month. If the price of XMR is pretty low I will hold out longer to sell. On the other hand if XMR reaches a high peak (like the $500 price earlier this year) I will sell all. I do need to pay down some of the equipment costs.
 
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De Beers tracks diamonds through supply chain using blockchain

De Beers said on Thursday it had tracked 100 high-value diamonds from miner to retailer using blockchain, in the first effort of its kind to clear the supply chain of imposters and conflict minerals.

The pilot was announced in January and had an initial focus on larger stones. Blockchain is a shared database of transactions maintained by a network of computers on the internet that is best known as the system underpinning bitcoin.


“The Tracr project team has demonstrated that it can successfully track a diamond through the value chain, providing asset-traceability assurance in a way that was not possible before,” De Beers chief executive Bruce Cleaver said.
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https://www.reuters.com/article/us-...ters/technologyNews+(Reuters+Technology+News)
 
entity279 said:
Relevant and very interesting article, IMO :

https://blog.sia.tech/the-state-of-cryptocurrency-mining-538004a37f9b
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Pretty bleak outlook for crypto-currencies in general. To Recap:

* No effective way to circumvent ASIC hashing
* Big miners have the means to build special purpose hashing hardware and greatly increase the economies of scale advantage they already enjoy.
* Smaller miners being fooled into investing in hashing hardware that will never be profitable.
* Big miners building hashing hardware in secret thus enjoying massive large scale cost benefits (as well as making a crypto currency vulnerable to 51% attacks).

I have a couple of reservations wrt. crypto currencies ( and not just because I love computer graphics and hate miners for stealing all GPUs).

The 10 biggest crypto coin have a market cap of over $300 billion. What is the size of the underlying economy these currencies serve ? Normal debit charges are a fraction of a percent, credit typically runs at 1-2%. For the $300 billion market cap to make sense, the underlying economy would be multi trillion dollars per year. Is there really that much money in botnets, drugs, guns and human trafficking ?

Why does Monero and other anonymizing coins even exists ? Are people completely unaware of how money markets and taint work ? If you anonymize one bad coin with 9 good ones, you don't end up with 10 good coins, you end up with 10 bad ones. There is a large swath of money laundering legislation to counter shit like that. An exchange that accepts Monero coins will be shitlisted, every transaction going through such an exchange will be tainted.

Cheers
 
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A question to all B3D crypto enthusiasts: given current market conditions and difficulty levels, are there ANY coins you can currently profitably mine at your location? If not, what have you scaled down/mothballed/dismantlement your operations or continued on, counting on prices to rebound?
 
Geeforcer said:
A question to all B3D crypto enthusiasts: given current market conditions and difficulty levels, are there ANY coins you can currently profitably mine at your location? If not, what have you scaled down/mothballed/dismantlement your operations or continued on, counting on prices to rebound?
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It's summer here, so no (GPU or CPU) mining until the heat goes back on. I have electric heat, so my profitability calculation is a little different as that electricity would be being turned into heat either way. May as well get something back for it.
 
I've turned off my PC first time since last year this weekend. Too hot now in UK, but I'm HODL as I haven't got that much coin, just 1ETH.
 
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