I need advice fellow autistic miners

[Anonymous No.29416589]

I'm consedering to buy an used RTX2070 to mine ethereum or another crypto. Would you recomend this investment or is this a bad move. With current prices, I'm looking at a ROI in about 100 days.

[Anonymous No.29416853]

>>29416589
no one will able to answer this. I will take the risk but because im a full retard that loves mining.

[Anonymous No.29416953]

>>29416589

Where do you purchase a frame like that?

[Anonymous No.29417092]

>>29416853
The only problem that I see with mining is that maybe eth becomes less profitable to mine in the next months. But I don't know an exact date

[Anonymous No.29417096]

that will cost you about $800 USD and will net you $5-6/day, yes? that doesn't seem worthwhile unless you can get obtain the card at a serious discount

[Anonymous No.29417261]

>>29417096
I will buy the card for arround 400€

[Anonymous No.29417366]

ware is hotel miner anon when you need him

[Anonymous No.29417447]

>>29417261
is not bad price r/n desu

[Anonymous No.29417480]

>>29417261
good luck retard

[Anonymous No.29417646]

>>29417366
In august I will living in a students building where you don't need to pay electricity. So I may even beef more my rig when I go there. Do you have pics from the hotel miner anon?

[Anonymous No.29417738]

>>29416589
I was able to buy an rtx 3070 las year. Should I do it? Not playing so much anyway. It could mine around 8$/day, 0.1 eth/month.

[Anonymous No.29417811]

>>29417261
that's not too bad. but would this be more profitable than simply buying ETH itself?

[Anonymous No.29417905]

Fuck miners for precisely this reason.

[Anonymous No.29417990]

>>29416953
Look at the picture. The thing says dimastech x-hash

[Anonymous No.29418017]

>>29416589
Anything below $500 is worth it for mining with a 2070. Good luck finding that though.

[Anonymous No.29418035]

>>29417905
Fuck you anon, I will buy all the GPU so you can't have sex with your imaginary VR waifus

[Anonymous No.29418106]

>>29416589
bad move, you need the new end cards to mine, the others are gonna waste more electricity to make the same amounts, so it means less gains for you.

all in all, i say its just better for you to put the money in crypto directly, did this myself even that i bought an RX 6800xt

[Anonymous No.29418401]

ELI5 crypto mining.
You use a graphics card and electricity in order solve mathematical equations to do what?

And how is that providing value?

[Anonymous No.29418608]

>>29416589
you're going to be fucked in 2 years, take profits (if you can) and sell everything before then.

[Anonymous No.29418643]

>>29418401
>And how is that providing value?

how is playing videogaymes providing value??

[Anonymous No.29418667]

>>29418401
>ELI5
go back
>And how is that providing value?
by making sure nobody steals your money.

[Anonymous No.29418865]

>>29418106
you dont know what youre talking about. 2070s can mine eth at 40mhz using 130w, and considering the gpu market theyre the best buy for both price to performance and energy consumption

[Anonymous No.29418899]

>>29418643
>how does entertainment provide value

[Anonymous No.29418965]

>>29416589
>ROI in about 100 days
It's fine then what are you asking us for

[Anonymous No.29419016]

>>29418899
>how does burning away thousands of hours of time of your prime provide value

[Anonymous No.29419023]

>>29418401
>ELI5
Go back redditnigger

[Anonymous No.29419034]

>>29418865
shut up faggot, i know this cuz i used to own a 2070, anyway, enjoy paying your electricity bills and stay poor

[Anonymous No.29419065]

>>29418667
Crypto "currency" isn't real money.
Smart people cash out into fiat and then buy real assets. Only autists hoard it.

[Anonymous No.29419114]

>>29418667
> by making sure nobody steals your money.
thats not how any of this works thats not how blockchains are secured you fucking dumbass at all

mining only ensures that the network doesnt stall

your coins are secured by the discrete logarithm problem irregardless if network is stalled or not your coins arent going anywhere
a miner cant just simply forge a digital signature you fucking dumbass

mining is a waste of time and energy

[Anonymous No.29419163]

>>29419065
So mine it and sell it the next day then. This isn't an argument against mining you retard

[Anonymous No.29419192]

>>29419016
>how does doing one of the few things you enjoy after work provide value
If I need to explain this to you, you're retarded.

[Anonymous No.29419272]

nobody here is giving any good answers..
so! where do you learn about this? it's mostly reddit tier information out there

[Anonymous No.29419364]

>>29419192
>after work
there's your problem faggot

[Anonymous No.29419420]

>>29418899
I find mining very entertaining.

[Anonymous No.29419469]

>>29419192
You can play games just fine WHILE mining, I do that. Just don't play AAA games, but they're all shit anyway so why do you care

[Anonymous No.29419625]

>>29419192
How fat are you?

[Anonymous No.29419645]

>>29417646

[42 No.29419692]

>>29418401
>And how is that providing value?
80% of all /biz/ current posters came from the r3dd1t migration and it shows

[Anonymous No.29419691]

>>29416589
8GB RX570-580s were the most cost efficient when I bought them last year, before the GPU pump. But with inflated GPU prices, on top of electricity, you'll never ROI in that time frame.

[Anonymous No.29419742]

>>29417646
hotelanon is the undisputed king of biz

[Anonymous No.29419769]

>>29419364
I'm not a wagie.
I just like video games to relax.
Maybe one day my life will be absolutely perfect like yours. I'll get everything I need out of providing value, never have stressful days and never need entertainment.

[Anonymous No.29419775]

>>29416953
Waste of money, those cheap metal shelving units from hardware stores are way better.

[42 No.29419804]

>>29419065
>Crypto "currency" isn't real money.
pic related is ((((rEaL m0n3y)))

>>29419192
>after work
imagine thinking the only time you can work is when you're at your (((job)))

[Anonymous No.29419840]

>>29418401

[Anonymous No.29419848]

>>29419769
it is truly blissful
godspeed

[Anonymous No.29419863]

>>29417738
It's what I am doing with my 3070 fren

[Anonymous No.29420093]

>>29419863
same with mine, good shit man

[Anonymous No.29420138]

>>29419692
Why can't you people just explain why crypto mining provides value?

>post funny pic
>say reddit somewhere in my post
>everyone will love me

[Anonymous No.29420153]

>>29419065
>Crypto "currency" isn't real money.
Sure, but cryptocurrencies asset is its ledger. If the ledger is manipulated all value is lost.
>>29419114
>thats not how any of this works thats not how blockchains are secured you fucking dumbass at all
It is how ETH and BTC are.
>mining only ensures that the network doesnt stall
by confirming transactions and advancing the chain.
>your coins are secured by the discrete logarithm problem irregardless if network is stalled or not your coins arent going anywhere
huh? is this fucking bait? what do you think miners are doing?
>a miner cant just simply forge a digital signature you fucking dumbass
have you never heard of a 51% attack?
>mining is a waste of time and energy

holy fuck, I'm from /g/ and I thought those guys are retarded

[Anonymous No.29420357]

>>29420138
we know it’s difficult for you to understand how you’re perceived without a voting system. admit reddit has crippled your self-awareness

[Anonymous No.29420380]

>>29418401
>And how is that providing value?
Its processing transactions. Instead of a ton of bank employees jerking each other off we just have autists mining with GPUs yoinked from "gamers" to secure the network.

[Anonymous No.29420558]

>>29416589
>build new PC after a decade in Dec 2019
>RTX2070 super cost me 500 bucks
>play my little games
>run miner whenever not playing
>new PC paid for itself

[Anonymous No.29420656]

>>29419804
Your picture contains legal tender. Society has decided that it is real money and is therefore valuable.

Maybe one day crypto "currency" will also be considered real money.

I don't have a job. I work for myself.

[Anonymous No.29420698]

>>29420138
makes antiquated blockchains werk
makes me munny

retard

[Anonymous No.29420791]

>>29420656
also your whole premise is that of social contract - agreed value

looks like people are agreeing the value of digital currency too

[42 No.29420795]

>>29420656
>Society has decided that it is real money and is therefore valuable.

>(((s0cIeTy)))
anon...i...

[Anonymous No.29420842]

Anon I have been trading since 2010, i would not recommend purchasing GPUs in this market at this time, that time has pasted. There are always cycles, during the last crypto crash the price of used GTX 1080s briefly fell to 100usd, that was the time to buy. There will be another drop of RTX in the near future save up for that.

And yes i do hold kleros and yes we are shorting its price to accumulate more. I have personally spoken with clement in french and ill only say one thing, ERC-721 Credit rating token for zero collateral loans. Yes with all its DAPPs kleros is truly the microsoft of crypto.

[42 No.29420873]

>>29420138
>Why can't you people just explain why crypto mining provides value?
https://en.wikipedia.org/wiki/Proof_of_work

>Proof of work (PoW) is a form of cryptographic zero-knowledge proof in which one party (the prover) proves to others (the verifiers) that a certain amount of computational effort has been expended for some purpose. Verifiers can subsequently confirm this expenditure with minimal effort on their part. The concept was invented by Cynthia Dwork and Moni Naor in 1993 as a way to deter denial-of-service attacks and other service abuses such as spam on a network by requiring some work from a service requester, usually meaning processing time by a computer. The term "proof of work" was first coined and formalized in a 1999 paper by Markus Jakobsson and Ari Juels.[1][2] Proof of work was later popularized by Bitcoin as a foundation for consensus in permissionless blockchains and cryptocurrencies, in which miners compete to append blocks and mint new currency, each miner experiencing a success probability proportional to their computational effort provably expended. PoW and PoS (proof of stake) are the two best known consensus mechanisms. In the context of cryptocurrencies they are the most common mechanisms.[3]

>A key feature of proof-of-work schemes is their asymmetry: the work must be moderately hard (yet feasible) on the prover or requester side but easy to check for the verifier or service provider. This idea is also known as a CPU cost function, client puzzle, computational puzzle, or CPU pricing function. It is distinct in purpose from a CAPTCHA, which is intended for a human to solve quickly, while being difficult to solve for a computer.

[Anonymous No.29420895]

>>29420357
Just admit you can't explain why crypto mining is worthwhile. It's ok. No need for all the menaingless personal attacks.

[Anonymous No.29420980]

>>29418106
1070s are still perfectly usable too, faggot

[42 No.29420983]

>>29420895
>Just admit you can't explain why crypto mining is worthwhile
there's literally a wikipedia article explaining it

>>29418401
>ELI5 crypto mining.
oh wait...nvm...

[Anonymous No.29421022]

>>29420153
> by confirming transactions and advancing the chain.
no you fucking retard the transactions are "confirmed" by nodes even without getting into a block, if you post an invalid shitty transaction it will just be dropped not by miners by other nodes
> huh? is this fucking bait? what do you think miners are doing?
they are making profit on retards like you buying into their bullshit about "muh we keep networkz coinsz sekure for yu"

> have you never heard of a 51% attack?
you are obviously a mother fucking dense idiot
learn what a digital signature scheme is
even having 100% of hash-power wont break a digital signature scheme such as ecdsa you fucking dumbass faggot

> I'm from /g/
go back and play IT support

[Anonymous No.29421029]

>>29420380
>>29420895

[Anonymous No.29421165]

I get dirt cheap gasoline so I'm running two rigs with rtx 2060's mining 20 RVN a day off a generator. If it goes to a dollar imma sell my stackaroni

[Anonymous No.29421176]

>>29420842
In not sure, stock anon here. Chips are in short supply. If you're looking to get cards or psus, the better times likely won't exist unless we have other things to worry about.

[Anonymous No.29421209]

>>29416589
I recommend against it, from a purely business perspective. But it's an interesting hobby and it's fun messing with GPUs.

[Anonymous No.29421392]

>>29419645
Hope this Anon is still making it under the radar of that hotel.

[Anonymous No.29421583]

People say mining isnt worth it and then two years later your coins are worth 5x-10x. Obviously worth it. Play the long game dont look to cover your investment so quickly.

[Anonymous No.29421677]

>>29416589
As a purely investment stand point? Ehhh I dunno.

As a hobby when your computer is idling and you have nothing to do? Sure why the fuck not.

I'm on a 1070 now and I rake in ~$10/week after electricity by just having my computer on. I'm upgrading to a 2080 and my earnings potential will be much higher, like 45/week. But honestly I'm just upgrading to a 2080 because I want to play my anime tiddies video games in 2k resolution on ultra settings. The extra cash will be nice too!

[Anonymous No.29421684]

>>29421022
>if you post an invalid shitty transaction it will just be dropped not by miners by other nodes
nodes do nothing other than propagate the consensus of miners to other nodes, they don't preform any additional verification, they don't do shit. if you still don't believe me you can DYOR on nakamoto-style consensus.
>learn what a digital signature scheme is
>even having 100% of hash-power wont break a digital signature scheme such as ecdsa you fucking dumbass faggot
you fucking retard, you don't have to break the "digital signature" to create garbage transactions once you control the network.

[Anonymous No.29421978]

>>29420873
Why does this provide more value than what banks already do?
Anyone can do a lot of pointless work, doesn't mean it's valuable.
It need to be more effective/efficient at reaching the end-goal than the previous system.

[Anonymous No.29421997]

>>29421684
> nodes do nothing
you cant broadcast an invalid trx and expect it to reach miners
try broadcasting to eth a 0 fee transaction or one paying a negative value as fee

> to create garbage transactions
you said they can forge, no they cant. your and my coins are secured by ecdsa not by miners.
they if they have > 33% (not even 51%) can produce garbage or stall the network, wow, much secure, such amaze.
they cant even double-spend.
hilarious yet you fell for their shit about we keep tha netwerkz sekure

[Anonymous No.29422202]

>>29420895

[Anonymous No.29422376]

>>29421392
>Hope this Anon is still making it under the radar of that hotel.
That’s the genius of hotelanon. They come in once per month to spray for pests with a 24 hour notice so he has it on that medical cart to wheel outside before they come in. Even spliced a separate circuit from the janitor’s closet for more power

[Anonymous No.29422480]

>>29419272
Imagine it's 1848 and you hear about rumored gold out on the West coast. You think anybody is gonna tell you what tools to mine it with and how?

[Anonymous No.29422499]

100 days. well prices could easily -90% in that time. GPU's could easily 50% in that time. or they could increase. up to you pal

[Anonymous No.29422559]

>>29422376
based

[Anonymous No.29422791]

>>29421997
>try broadcasting to eth a 0 fee transaction or one paying a negative value as fee
that's basic sanity checking, nothing to do with cryptography.
>they if they have > 33% (not even 51%) can produce garbage or stall the network
that's called a DDOS attack, and tx fees exist to de-incentivize people from doing it.
>they cant even double-spend.
they can, it is why people attempt to 51% in the first place.

[Anonymous No.29422841]

>>29417738
The 30 series is pretty good desu. Underpowered 3090 here with 100hash@280watts

[Anonymous No.29422942]

>>29422376
he's my hero at the moment.

[Anonymous No.29423041]

>>29416589
>tfw bought my 5700xt pulse at $400 at launch before the GPU market got rekt
>0.07kw/h and mine $7~ a day
>comfily making free money to gamble on shitcoins
ROI 2 months without accounting the ROI of shitcoins mooning. The only thing I really fear is the g man collecting his taxes on both my fixed income from mining and capital gains stacked on top.

[42 No.29423097]

>>29421978
>Why does this provide more value than what banks already do?
pic related

[Anonymous No.29423199]

are mining rigs noisy? i live in an apartment but i don’t pay electricity. will my neighbors bitch about noise and will i be able to sleep with them on?

[Anonymous No.29423275]

>>29423199
They aren't necessarily super noisy, but fuck me they generate a shitton of heat.

Get ready to have a personal space heater anon.

[Anonymous No.29423297]

>>29417646
Ive always wondered how this works. Like do they have deals with electric companies that their bill is flat? Like would they not freak put when they suddenly get hit with a noticeable jump in the usage?

[Anonymous No.29423448]

>can make a whole $2000 a year
>not even all profit cause electricity cost
Lmao mining is so pathetic honestly not sure why anyone bothers.

[Anonymous No.29423561]

>>29423275
>but fuck me they generate a shitton of heat
this, it's comfy if you live in the north and have cold winters
>>29423199
>are mining rigs noisy?
kind of but that all depends on the cards you're using, how many, and how effective your cooling is

[Anonymous No.29423579]

>>29416589
Are you a total loser with zero money and your only hope of striking it rich with crypto is a loan? Absolutely.

Do you already have a boatload of cash and can afford to lose 10% of your money in crypto? Hell no. Just buy it off an exchange.

[Anonymous No.29423627]

>>29423448
Free money to gamble on shitcoins

[Anonymous No.29423639]

>>29418401
Go back you faggot.

[Anonymous No.29423679]

>>29416589
Hotel mining.

[Anonymous No.29423726]

>>29423199
>are mining rigs noisy?
Noise isn’t a big deal, your problem is going to be heat. Mining calculations base electricity usage of your rig, not the ac needed to cool down your apartment. Depending on wattage, imagine that size heater running 24/7. A 1500w heater will heat a room pretty quick. Great for winter, but get your bathing suit on during summer if trying to cut ac costs.
Also look into the 20” box fan hack in pic related for a cheap way to keep your rig cool. Fans don’t lower the temperature of a room though, just move the air off your rig

[Anonymous No.29423803]

>>29423448
>>can make a whole $2000 a year
>>not even all profit cause electricity cost
this isn’t even close to true though?

[Anonymous No.29423850]

>>29422376
He's an absolute legend

[Anonymous No.29423982]

>>29423579
>Are you a total loser with zero money and your only hope of striking it rich with crypto is a loan? Absolutely.

[Anonymous No.29423988]

>>29423726
Unironically this is why a lot of people here in Canada mine. Some people even save a bit of money on electricity because they don't have to run their heaters in the winter.

[Anonymous No.29424064]

>>29423448
Faggot trying to mislead chads. This is what im currently doing with a 3080 and an 2070

[Anonymous No.29424189]

>>29418401
you're gay for asking

[Anonymous No.29424319]

>>29417646
It doesn't work like that anon, if you're using $2000 a month in electricity bills you don't think the property owner will charge you for that?

[Anonymous No.29424444]

>>29424319
>$2000 a month in electricity bills

[Anonymous No.29424550]

>>29424444
Quad has spoken.
>>29423448
>>29424319
Retards confirmed

[Anonymous No.29424638]

>>29424444

you laugh, but that's only like an hour of electricity in texas

[Anonymous No.29424674]

>>29416589
Buy NOW everyday you think about it extends that 100 day ROI projection and your risk. If your electricity is low enough to mine through the bear period, and assuming you hold, you'll eventually be profitable.

[Anonymous No.29424744]

>>29424319
>2000 a month
??????????????????????????????????????????????????????????????????????????????????????????????????

[Anonymous No.29424961]

>>29416589
>With current prices
You are prob looking at the MSRP which you won't find any.

[Anonymous No.29425268]

>>29416589
ETH will crash in about 10 days, so gl with that

[Anonymous No.29425371]

>>29424638
>you laugh, but that's only like an hour of electricity in texas
I used to live in tx and most of it is deregulated to choose your provider around 8.5 cents/kwh
$2,000 is 23,529kwh
784kwh per day
32.6kw per hour
Do you have any idea how much 32kw per hour is?
Anon above is pulling 360w w/ his setup or .36kw per hour. He would 88 times this. Plus 32kw requires 300amps, even then you’d need 375a service to not exceed 80% of load. A standard new house only has 200a service, meaning you’d need double the amperage to even reach the $2k/mo figure that I’m guessing was pulled fresh out of your ass. Why lie tho?

[42 No.29425700]

>>29424064

[42 No.29425791]

>>29424444

[Anonymous No.29425804]

>>29420380
Based. Fuck gamers

[42 No.29425845]

>>29423448
>Lmao mining is so pathetic honestly not sure why anyone bothers.
lol

[Anonymous No.29425855]

>>29419742
Fucking Kek lmao

[Anonymous No.29425859]

what happens when eth implements the berlin hard fork in april? what will you do when in a few months after that, mining profits will start to heavily drop and then eventually go to 0? are you all brainlets or what

[42 No.29425912]

>>29419742
>hotelanon is the undisputed king of biz
without a doubt
reminds me of oatmeal anon

[Anonymous No.29426096]

>>29425845
what is this? did he remember something and cringe and recover?

[Anonymous No.29426155]

>>29425912
Link to og hotelanon thread pls this seems incredible

[42 No.29426462]

>>29426155
>Link to og hotelanon thread pls
I wish I saved that one, sorry bro
was a good one, especially witnessing it live and being in the thread

[Anonymous No.29426627]

>>29425912
i hope oatmeal anon is doing okay. i miss seeing him post. he's unironically gonna be 2-3x wealthier than me just because of his perseverance

[Anonymous No.29426684]

You should be mining in an accumulation phase. Not now.

[Anonymous No.29426706]

>>29426462
Found it. Disconcertingly based

[Anonymous No.29426824]

>>29425859
is everyone in denial about this or what? the gpu market will literally crash before eoy and you wont even be able to come out in profit at the end. you planning on mining ravencoin or what lmao

[42 No.29426904]

>>29426706
we are where venezuela was

[42 No.29427024]

>>29426627
>i hope oatmeal anon is doing okay.
same
I hope we all end up doing well in the future:
https://youtu.be/DuDX6wNfjqc

[Anonymous No.29427084]

I want that stupid fucking 3090 so bad

[Anonymous No.29427334]

>>29416589
Buy now and dont buy expensive. but you are fag and so you'll pay twice as much for hash power. look at all options

[Anonymous No.29427984]

>>29423726
>>29423561
>>29423275
temps are around 8 Celsius at night and no higher than 24 in the day (that’s a pretty hot day) usually around 17-18. i could use a little heat actually. i’ll look into a small setup because my power is free i don’t pay a cent.

[Anonymous No.29428523]

>>29426706
Fuckign awesome. Thank you for sharing, anon.

[Anonymous No.29428714]

>>29416589
lol at starting to mine eth when it's possibly months away from PoS.
once ETH is gone, there will be nothing profitable to mine with GPUs. I mine with the GPUs I happen to have, not bought with the intention to mine, and I will have use for them after GPU mining is gone.