CryptoCurrency Mining with GPUs *spawn*

Because antivirus software doesn't eat up enough system resources as it is.

Cheers

 

Bitcoin: El Salvador plans to make cryptocurrency legal tender - BBC News

 

HODL, TO THE MOON!

But seriously, even with the crypto exchange rate dips, it's still profitable for mining with gpu.

I want an RTX at MSRP....

 

Probably not for the more expensive cards though. For example, a 3080 Ti's best mining profit now is for "Raven" coin (which is not 'rate limited') with less than US$5 per day without taking account of the cost of electricity. To get US$1,200 back you'll need 240 days, which is 8 months running it 24 hours a day. I don't think that's a good investment, if you do it purely for mining.

 

Yeah, that Anonymous account "verified by google" really lends this credibility...

 

Total Mining Profit until 2.0 (Chart Update!)

Go here for original article: www[DOT]reddit[DOT]com/r/EtherMining/comments/ntrnzp/total_mining_profit_until_20_chart_update

Change [DOT] to . in above link. I am not sure why the link expands to a MEDIA link?

Great article in the breakdown on what earnings for ETH will be for miners going through EIP 1559 next month until ETH 2.0 completely shuts down mining completely.


With eBay sold prices still in the $700+ range I will be selling off my Vega 56's starting tomorrow after I earn my latest 0.1 ETH reward.


I really don't see prices of Vega 56's holding up going forward and the data in the above article shows that selling them for $700+ will earn more in profits than mining with them till ETH 2.0.

 

I really believe eth 2.0 will be late, like Q2 2022...

 

You are allowed to believe that, but you should plan for what they recommended - End of 2021.

So today, you can sell your GPU's for 3x the MSRP. The question is if the income from mining until Dec-2021 can offset the drastic fall in GPU prices you will see then.

The bet that it could only happen in Q2 2022 may backfire even worse. Or, you may profit from it, but not by much. Does the risk compensate the benefit?

 

Oh I'm not in the mining game anymore. I only play on the exchanges now.

 

This seems insanely risky both for Strike and El Salvador, between massive exchange rate movements, possible changes in US regulations and the massively subsidized nature of Lightning network this could all come tumbling down all too easily. Even if the Strike App just keeps all the balances in US dollars and just uses Bitcoin as a transfer mechanism, it's still very risky.

It's only a couple really big Lightning Service Providers which subsidize the real cost (ie. they don't charge the real cost of sacrificed liquidity) and hide the fucked up user side details (ie. channel setup, watchtowers etc) which make Lightning usable ... but that could disappear overnight, it's not a sustainable business.

 

I believe the actual Anonymous already claimed this video isn't theirs.

 

I just sold one of my seven Vega 56's on eBay for $710. I cleared $624 after eBay fees (9.5%), shipping (1.7%) and insurance costs (0.9%).

The buyer paid a total of $765 including sales tax.

This Vega 56 produced 46 MH/s on Ethereum.

From article posted above: As of today, June 6, the total future ETH mined per 100MH/s is 0.265 ETH modeled

So the 46 MH/s should produce a total 0.1219 ETH and at today's price of $2583 be would be worth $315.

Since Vega 56's were selling on eBay for $125 last year before the current mining craze happened I feel getting $624 right now is a better choice than getting $99 for selling it on eBay ($125 - eBay Fees - shipping) plus the $315 in mining income.

The buyer who paid $765 will need to get an additional $450 from somewhere else to break even. Maybe mining other coins after ETH POS or if Ethereum goes up 242% from today.

Good luck to the buyer but I feel for myself it isn't worth the risk.

 

I even sold my 970 GTX for € 150, and could probably have gotten more. That thing was like €350 when I bought it, what, 7-8 years ago? These were like €90 second hand 3 years ago. It is crazy.

 

I sold my old 1080ti for 300€ in December 2020 and I bought a 3080 for 700€. 1 month later I sold the 3080 for 1800€ and purchased a 6900xt red devil for 1400€. So you can say I upgraded from a 1080ti to a 6900xt for basically free.

I was happy with the 1080ti and later the 3080, but if the world throws you a bone you have to take it.

 

Damn, hell of a deal. Inclined to sell the 2080Ti massively overpriced and wait out the hardware availabilities problems and get a RTX3090/4090 for 'free' later on. Never thought pc hardware/consoles could become a nice investment lol.

 

Honest question, with Eth going PoS, shouldn't that increase it's value in the future? meaning the more you mine now, the more you can earn if you sell your Eth later?

 

It will depend a lot of the technical state of ETH2.0 imo. And market state of course. Right now, tech doesn't matter a lot, it's all hype for the futur, and alignement on bitcoin. Kind of.

 

Impossible to predict. Also waiting out for months for a price increase is a risk in itself.

Edit : I mean pretty reliably one can expect a price increase just before a big fork/big change. So say a 20% - 100% increase might be likely. But that's a few weeks before the fork. Until then, anything can happen, including a much more significant falling of prices

 

China arrests over 1,100 suspects in crackdown on crypto-related money laundering