CryptoCurrency Mining with GPUs *spawn*

[Mize]

So I've got one miner running Ubuntu and it's humming along but Linux oc is a far cry from MSI Afterburner so dialing in the exact per card settings is meh. I do have 1070s running at 95W each though... Think I'll try W10 on it.

 

[Mize]

So I've got one miner running Ubuntu and it's humming along but Linux oc is a far cry from MSI Afterburner so dialing in the exact per card settings is meh. I do have 1070s running at 95W each though... Think I'll try W10 on it.

Well NVM. Modified xorg with coolbits=28 and now I've got six 1070s running at 95W each and a 1000 mem oc and a -200 GPU down click. So about 700W for about 180MH/s Ether.

This is my new 3dmk2k.

 

[Deleted member 2197]

Ethereum miners are renting Boeing 747s to ship graphics cards and AMD shares are soaring

“Time is critical, very critical,” in mining, Marco Streng, chief executive of Genesis Mining, a major ethereum miner, told Quartz. “For example, we are renting entire airplanes, Boeing 747s, to ship on time. Anything else, like shipping by sea, loses so much opportunity.”

Up for grabs is a supply of roughly 36,000 units of new ether, the digital token associated with ethereum, per day. At current prices of around $200 per ether, that translates to $7.2 million worth of ether that miners compete for each day.

Genesis maintains mines around the world, including in Iceland and China, Streng claims. Streng was visiting his facility near Shanghai when Quartz contacted him. Miners are notoriously secretive about the size and location of their facilities since they must compete against each other to win new supplies of cryptocurrency. It’s an “information advantage” to maintain secrecy, Streng says.

Despite the thirst for graphics cards from crypto miners, AMD management says it’s not going to include that demand in its forecasts. “We didn’t have cryptocurrency in our forecast and we’re not looking to it as a long-term growth driver,” Su said. The chip maker says it’s focusing on its core market of gamers. In the meantime, though, it’s selling virtual shovels to miners as the cryptocurrency gold rush continues.

https://qz.com/1039809/amd-shares-a...-boeing-747s-to-ship-graphics-cards-to-mines/

 

[Deleted member 13524]

This is getting out of hand.
It's impossible this isn't creating a huge bubble of investment.

 

[Mize]

Crazy. The thing is that it's hard to beat a 10 month ROI. It costs basically $3k to generate a 180 MH/s rack which equates to about $300/month at Eth=$200@. Go bigger and it's the same ROI break point less volume discounts...

In my case, I needed a project to test the limits of my new reality. I'm sure I'll lose money on the whole effort as I lose interest, but I proved I can do this kind of stuff in my new gimped state.

 

[Deleted member 13524]

Crazy. The thing is that it's hard to beat a 10 month ROI. It costs basically $3k to generate a 180 MH/s rack which equates to about $300/month at Eth=$200@. Go bigger and it's the same ROI break point less volume discounts...

In my case, I needed a project to test the limits of my new reality. I'm sure I'll lose money on the whole effort as I lose interest, but I proved I can do this kind of stuff in my new gimped state.

Just make sure you cash out regularly. This thing could implode at any time IMHO.

 

[chavvdarrr]

Crazy. The thing is that it's hard to beat a 10 month ROI. It costs basically $3k to generate a 180 MH/s rack which equates to about $300/month at Eth=$200@. Go bigger and it's the same ROI break point less volume discounts...

In my case, I needed a project to test the limits of my new reality. I'm sure I'll lose money on the whole effort as I lose interest, but I proved I can do this kind of stuff in my new gimped state.

heh .. an year and half ago ROI was like 4-5 months... but I was too afraid of implosion and invested only 1k euro.
And then reinvested half of profit... 20 cards atm and 1btc in exchanges/wallets
I prefer to laugh on myself

 

[Mize]

I'm a ways from breakeven but I'm having fun dorking out and learning. Planning to switch to altcoins and doing more straight up trading.

 

[eastmen]

what pool are you guys all on ? I am just trying to figure out how to set all this up right now. Figure i'd mine a bit with my r9 290 before i grab a vega 56 .

 

[Rootax]

For eth, nanopool here.

 

[CarstenS]

From taking a brief look: Is nanopool indeed free, i.e. no fees and just survives on mininmum payout of 0.2 ETH?

 

[eastmen]

For eth, nanopool here.

how long does it take for them to pay out. I went to their site and set up claymore and used ethereum wallet to make a wallet. Its been running for almost 12 hours now. Sorry for the questions but i want to make sure i'm doing this right. I have my 290 set up and its giving me about 16Mh/s

 

[Rootax]

Nanopool has a 1%fee if I'm not mistaken.

For the payout, you can adjust it to 0.1 eth if you configure your miner to identify yourself (with an email).

Eastman, you won't be paid until you mined 0.2eth, so It can take while at 16mh/sec. But you can follow what is happening at https://eth.nanopool.org/account/yourethwalletaddress

 

[eastmen]

Awsome thanks. I am prob going to get a Vega 56 or 64. I get 10% off at Amazon so that may be my gift to myself this year and if u can recoup the cost in 6 months or so that be great too

 

[Lightman]

One you mine 0.2ETH payout is immediate. I've been using them for two months now and have no complains to make.

 

[Mize]

I've been using ethermine.org lately, dwarfpool before but they had an outage that stressed me out. Beware ethpool.org as you need a massive amount before they pay.

 

[Mize]

On another note, so far it's been far more profitable to trade alt coins and crypto currencies than it has been to mine...

 

[chavvdarrr]

Wanna give brief how-to for trading?
I tried several times... But when realized that long-term the best I achieved was "no big losses" i stopped

 

[tongue_of_colicab]

Buy low, sell high.

Seems all these coins are still pretty volatile so it shouldn't be too hard to jump in at a point where there is a reasonable likelihood prices will go up.

Also, I don't see the point in mining on your own. Seems to be that unless you have a warehouse full of GPUs mining you're not operating on a large enough scale to really make a lot of money. You have to spend a couple of grand on hardware, electricity, keeping things running etc. and if after a little under a year you finally have your initial investment back, who's to say your hardware is not due for a upgrade by that time because a much more efficient card has come along?

Looks like you are better off watching coin values and when one drops due to whatever jump in. Looking at Bitcoin it appears that if you'd bought some coins a couple of weeks ago you could have made a ~40% profit already (from 1900 to 3200).

 

[Mize]

I've made about 33% so far trading. I'm not sophisticated. The last couple days, for example, Bitcoin has been on a tear, increasing to around $3300. Bad time to buy in, right? But I had some ETH and the ETH/BTC actually increased more than ETH/USD so I picked a point and sold my ETH for BTC. I've also purchased some alt coins showing rising trends and will likely swap them back to BTC today as they're up 70% in 24 hrs.

Unfortunately, I'm not playing with "real" money so only my percentages look good. Pretty sure I'm too (fiscally) conservative to play this game with large amounts of money.

Edit: forgot to add that it's crucial to have funds in a few exchanges to do this. If you see an opportunity but don't already have funds in the exchange then that process can take hours to days.