/biz/ - Business & Finance

delete this now youv said too much

By the time you get your shiny new asic it's been 3 months and difficulty has left you in the dust.

I'm just trying to make fellow anons aware of the potential gains. One of these pic related is making me 46$ usd a day mining bitcoin cash. It's really a fucking money printing machine

>>5143787
>Mining
>2017
>12.5 BTC block rewards
>Everyone moving to PoS

>>5143787
>>5143860
Post a pic of the miner with timestamp, or this is just another LARP thread

>>5143860
return on investment is shit. resale value is non if a newer model comes out.

>>5143860
hahah just got mine and it's working beautifully

>>5143992
Someone has 50 like 100 miles away for $1500 new with the power supply.

Scam or??

I'm considering it I only have 3000

>>5143860
revenue or profit

>>5143940
paid $1600 for mine with PSU with shipping, current daily is, being very conservative, $40 a day.

Simple scenario is 40 days to ROI, then it prints money.

Okay more complex. If I had put 1600 onto BTC, which is what I would have done had I not ordered it. That would ~3000 right now, then have to do a more complicated formula that would adjust for the increasing value of BTC. So lets be very conservative and say bitcoin quintupled by the time 90 days have passed since the miner arrived and the profit per day didn't increase 1:1 with increase in bitcoin price. Say .75:1 on bitcoin price increase.

Then we're looking at 8000 opportunity cost to obtain the miner and mine with it for 90 days. Let's assume a linear growth rate just to make things simple. Hope LaTeX works on biz as well as sci

$sum_{n=1}^90 [\frac{160n}{90} +40] = 10880$

>>5144170
gamble if you want to. make sure you can actually store and power the things.

Are we talking about the S9? Says coming soon on the site.

>>5143787
Makes no sense, there are much more profitable coins to mine.

>>5143787
honest to god I'd believe you if you said monero. Did you guys see the dude who spent only 1.2k on equipment and is pulling 3 monero a month now?

>>5144170
Craigslist scam for sure. NO ONE besides Bitmain is selling for that price.

>>5144186
>gamble if you want to. make sure you can actually store and power the things.
I have very safe places that are 100% if i pay electric. seems like a good idea

>>5144198
what did he do? scrape together some old server parts? shit's cheap af

>>5144182
>Latex
>/Biz/
This fagots can't even benchmark their shitcoin gains on Excel vs BTC

>>5144223
He bought like 25 graphics cards at a warehouse clearance auction for $60 and he BIOS flashed them and they pull like 150h/s and then he bought a bunch of old computers at that same warehouse auction for like 1.1k and is running those graphics cards in those. Anon basically made his initial investment back in a month and he claims to have been doing this for a year

>>5143858
>>5143787
A question
Im not nessicairly interested in mining for money.
but are miners also considered nodes?

Im very much interested in blockchain technology, and I would like to participate in it as far as being part of the chain.

I feel this cryptomarket is going to boil over and many of the companies putting out cryptocoins and tech will most certainly just take the money and run, or they will fail miserably and give up half way as is the milllenial thing to do, just half ass everything and try to get other to do the work for you.

>>5144270
i know where i'm taking my gains

>>5144182
Sorry that 160 should be a 150 making the 10880 a 10425.

Also it should be said those numbers are fairly conservative, as that would put bitcoin at 50k per in April, and assumes linear as opposed to exponential growth. Exponential growth is what we see from BTC not linear, so since the area under the curve for exponential will be much less than the area under a linear curve, my estimates are actually under estimates.

More explosive growth in bitcoin is better for a miner's profitability as the hardware takes longer to produce, read the hash rate takes longer to go up than the price.

>>5144270
Can someone give us a quick rundown on mining? And is it possible to mine ETH tokens like LINK or REQ?

>>5144170
i bought mine straight from bitmain when they restocked. i suggest waiting for them to do it again because 99.99% of people selling theirs for retail are scamming you

>>5144337
You'd be better off doing monero seeing it's CPU mining ability. Hypothetically he was getting 2400 h/s from his computer farm + his main rig going in at 2600.

>>5144358
How do I set up a mining rig? (What hardware) Where do I source electricity? Do I need to lease a warehouse?

>>5144375
I mean you don't need a warehouse lmao as long as you have a source of power and a computer you're good to go.

>>5144308
more importantly can you still be a part of the chain even if you don't have a rig that can actually mine bitcoins.
or do you need to be constantly competing for first place to have any say at all in the blockchain?

if thats the case then hardware is going to skyrocket

>>5144409
Are you sure? Every time I tried to mine it took forever, don’t you need to create a mining rig? It’s a large power usage isn’t it?

>>5143787
I make $288 a week staking Ark. I didn't have to preorder used bitcoin or litecoin miner that takes a year to arrive and would kill my electricity bill.

>>5144170
Probably used and about to die

>>5144431
What are you trying to mine?

>>5144446
Monero

>asics
>not glorious vega 64 rig

Stay poor hashlets

>>5144473
you should be pulling .01 monero on a half-decent rig every three days. If your hashrate is at least 400h/s.

>>5144560
How to deal with high electricity usage?

>>5144560
>400h
>rig

That's the hashrate of a shitbrick gpu

>>5144586
Calculate and estimate profits, take into account value increase of coin.

>>5143940
Used obsolete antminers are currently fetching near original price, yes it is retarded, but this is what is happening.

>>5144606
I mean more so what to do if landlord doesn’t like the usage? Do I need to lease a commercial space to use?

>>5144604
Okay autist-- let me say, "desktop computer".

>>5144606
when i try to mine monero on my gtx 1070 i get this error

GPU #0: GeForce GTX 1070 (15 SMX), using 40 blocks of 8 threads
GPU #0: Warning: block count 40 is not a multiple of SMX count 15.
#0: FATAL: failed to allocate device memory for long state

Any ideas? I'm using ccminer.

>>5144606
>take into account value increase of coin

no, this is absolutely fucking wrong. all that matters is your margin, if there isn't one now then you just have bought the coin instead of wasting money mining it.

>>5143787
Hey anon I have a 4x1070 rig and I used to use nicehash until it got hacked, now I use winminer

I read that whattomine is inaccurate because by the time you mine enough to cash out of your pool the price of the shitcoin it told you to mine already crashed. Is this true? How do you mine for the most profit?

>>5144669
Do you use your gpu while mining?

>>5143787
>where I am now
where is that?

>>5143787
It does only work with cheap elec you hillbilly

>>5144728
no, only application open is chrome.

>>5144708
whattomine is for nonhashlets who switch algos daily with profits made

>>5144752
try 30 / 8 in the config

>>5144752
the total number of (blocks x threads x 2mb) can't be larger than the total VRAM of the card

try 30 blocks

>>5144753
what do you mean? you need a bigger farm for it to be worth it?

Will the S9 even be worth it in two months when I can get my hands on one?

When is the S10 coming out.

DragonMint better?

>>5144796
being "worth it" just means you pay for electricity and 1/180 of your hardware cost daily.

With more hashrate though, you can switch algos daily while making consistent chunks of coins

>>5144787
>>5144779
[2017-12-17 21:32:21] GPU #0: GeForce GTX 1070 (15 SMX), using 30 blocks of 8 threads
[2017-12-17 21:32:21] Starting Stratum on stratum+tcp://monerohash.com:3333
[2017-12-17 21:32:21] GPU #0: FATAL: failed to allocate device memory for long state

no luck :/

>>5144808
I wouldnt blindly transfer to Dragonmint seems a vit like a scam, bitmain works with uneven Numbers 7,9 & the new one Will probably be 11.

How come these can only mine bitcoin?

>>5144841
need to update CUDA from the nvidia site

>>5144893
I tried that last night, downloaded and installed 9.1.85. Was I meant to do something else with it?

>>5143787
Is it possible to get one under 2k? I only found s9's for over 4k

>>5144921
a github comment says this driver fixes the issue on the 1070
https://www.geforce.com/drivers/results/107595

I think Antminer will release a new model by Q2 next year to compete with Dragonmint.

>>5144974
>>5144841
What driver are you using?
Did you flash the card?

>>5144423
>>5144308
bumping for an answer.

I don't care about making money. I just want to be a part of the block chain.
Can I do this?
Or do I need an investment in order to be part of the blockchain?

>he doesnt have miners running inside his workplace

>>5145059
>working

You aren't mining correctly anon

>>5145042
kys

>>5145081
I think youre not mining correctly

>Work get regular pay
>Have your miners running at work
>You profit from both work and coins since you arent paying the electricity

>>5144308
Technically speaking Satoshi only considered miners to be nodes. If you didn't mine he didn't consider you a node.

>>5145059
Those shits are loud as fuck and can heat up a room

>>5144998
Isn't Dragonmint a scam?

>>5144974
this got it working thanks heaps dude you're a legend. what's a good hashrate meant to be? i am getting 310-325 H/s

>>5145148
GMO is also releasing 7nm chips. that are like 1/3 as much power

>>5145108
you never profit from work when you account for life depreciation

>>5145168
Don't mine monero with 1070's though.
Dl oneclick miner or mine ethereum.

raise memory by 650mhz and downclock core

>>5143787
or instead of buying expensive equipment you could have bought the shitcoin itself and make much better ROI

>>5145168
a dumb web calculator gives 500h/s for that card but i find it's more accurate overclocked
also, i wouldn't mine monero with that card as the other poster says - there are other algos that do better on it

>>5143787
What do you recommend mining?

From everything I've read monero seems to be the best way to go but electereum (or what ever it's called) gives crazy gains

Im look at mining AE before it really explodes, how do I figured out what GPU suits what coin, or can you use any?

>>5145272
amd=ethhash/cryptonight
nvidea=neoscrypt/lyra
vega=cryptonight a beast

Getting 2k hashes per card (vega 64)

>>5145272
research + trial and error. get your hands dirty, but don't go around trying custom miners on the same machines that have any route to your private keys. i wouldn't even use these stupid all-in-one programs. as a miner you have to try to think in the macroscale instead of the 5 minute candles like the degen traders. diversifying your mining is also a good thing to do.

>>5144198
3 monero a month is quite honestly pocket change

>>5145328
forgot equihash for nvidea

Also, any anons bought a silent miner?
I just bought a scrypt from some pajeet off cryptopia. How do I set this up? It runs in the background, and I think I just need to put the program in the startup folder of the host.

>>5145340
which is why whattomine can be a red herring because as soon as things come under the umbrellas of the all-in-one programs and indexing services, they become part of a profit equilibrium

>>5145340
Where do you recommend getting info on all this? A complete picture.

For example
>>5145328
Doesn't mean much to me currently (though I understand nvidea/vega etc are models). I seem to only know bits of info.

Also when you say "diversify your mining", is it possible to have a single GOU mine a bit of multiple different coins?

I don't think I'll set anything up until mid next year when I'll have free power

>>5145468
They aren't models, they are manunfacturers you fucking sperg

You only have like, half a dozen good cards for mining.

With 7x 1070 you can make 15-30€ profit (not revenue) daily. Averages at 20

With 7x rx470/570 you can make 10-20€ profit

With 6x vega64 you can make 30-45€ profit

As your electricity price rises, the best choice shifts to the 1070s since they are the most efficient.

>>5145468
google. the worst enemy of the brainlet.

>>5145525
>They aren't models, they are manunfacturers
Yes I meant that, sorry.

Thanks for the info, Im taking notes of it all. One last question, how often (roughly) do you need to upgrade your equipment to keep pace, or is that not necessary?

>>5145604
16gb gpus aren't coming out so soon, so you got at least 1.5y of mining. That0s just the right window before selling them for more than half of what you paid

>>5145624
Great thanks a lot.

>>5145571
Obviously I meant a specific reliable site. Wasn't planing on going to the library

>>5144182