CryptoCurrency Mining with GPUs *spawn*

Discussion in 'Architecture and Products' started by CarstenS, Jun 1, 2017.

  1. pharma

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    Cryptocurrency Developers Are Protecting AMD And Nvidia's Lucrative Ethereum Tailwind
    https://seekingalpha.com/article/41...08143ee0a8f3bc05c3cf78743b54a60&uprof=82&dr=1

     
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  2. Pressure

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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.
     
  3. A1xLLcqAgt0qc2RyMz0y

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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.
     
    #843 A1xLLcqAgt0qc2RyMz0y, Apr 25, 2018
    Last edited: Apr 25, 2018
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  4. pharma

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    De Beers tracks diamonds through supply chain using blockchain

    https://www.reuters.com/article/us-...ters/technologyNews+(Reuters+Technology+News)
     
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  5. entity279

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  6. Gubbi

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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
     
    #846 Gubbi, May 15, 2018
    Last edited: May 16, 2018
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  7. entity279

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    I love Monero :heart:

    Would you go outside wearing shirts that display the contents of you wallet (or bank account), in real time?
     
    #847 entity279, May 15, 2018
    Last edited: May 15, 2018
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  8. Pressure

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    The joke shouldn't be entirely lost considering the naming of the algorithm - Cryptonight (Kryptonite for the dense, no pun intended).
     
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  9. Silent_Buddha

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    Got a good laugh just now. Ran across a porn video that is set inside of a bitcoin mining building with tons of GPUs on open air racks.

    So, at least one porn maker is investing heavily in coin farming. :p

    Regards,
    SB
     
  10. entity279

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    One can now rate the hotness of such a video by identifying the GPU class. Surely a video full of 1080 Tis is better than one shot in a romm with only 1060 3GB cards !
     
  11. Malo

    Malo YakTribe.games
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    I know I'd finish faster!
     
  12. Pressure

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    All those hot graphic cards making you sweat for it. If it's in porn, it is here to stay.
     

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