Crypto currency mining

[ulfilias]

Originally Posted by moltuae

That is quite a jump, in Dollars.

WOW....Though to be fair you are now seeing them on ebay for £5k rather than £3.5. Heck my S7 that i got for £750 is now £1500!!!


Curiously I paid - 1.26634379 BCH on the 30/11/17 (inc PSU ($105) and DHL shipping)

Vs 1.15821911 BCH now (just the S9)

so it's the value of BCH vs the Dollar that's shifted rather than the Bitmain price

[ulfilias]

Yup....Looking at my Bitlicious trade

Virtual currency: 1.30000000 BCH
Total price: 1,378.44 GBP

Vs
1.3BCH is £2,478.45 now

Arguably the best way to buy one is to use the Crypto you've earned rather pushing more fiat in. Also probably more tax efficient as if you're converting Crypto into fiat you should be paying tax on it (from what i've read)

[MikkiJayne]

Well I would buy one but I can't get any funds out of Coinbase It either says all my Exodus addresses are invalid or the crappy 2 factor authentication garbage fails

Huh. Turns out the address invalid is Coinbase being overloaded, and the authenticator stuff is dependent on device time being in sync - my phone was 1 minute out so was generating the wrong codes. Took some digging to find that

[moltuae]

[ulfilias]

....and the S9 is sold out again....this craze means any price seems to sell in a very short space of time!

[MikkiJayne]

Sold out by the time I'd transferred all my funds to Exodus which was then unable to convert to BCH for whatever reason. To add insult to injury, Coinbase introduced BCH support this morning, two weeks early.

I shall wait until the next batch and be able to move a bit faster then.

Or I'll have spent it on the next batch of Vegas in January

[MikkiJayne]

Well this is unexpected:

Originally Posted by Nicehash

Dear NiceHash customer,

We are reaching out to you as one of our buyers at NiceHash. You will be well aware by now that on Wednesday 6 December, our security system was breached in a sophisticated attack. As a result, our payment system was compromised and the entire contents of the NiceHash bitcoin wallet were stolen – around 4,700 BTC.

Despite the unfortunate event, we are letting you know that our service will be resumed today and your money will be paid back!

Please be aware that when we resume the service, it will be apparent that your wallet has 0 value as a result of the hack, although you will also see your old balance on the new dashboard.

We are happy to announce we have been able to reserve the funds required to restore balances from a group of international investors. Old balances will therefore be restored by January 31, 2018. We need this interim period to ensure all legal paperwork is processed correctly, so please be patient while we do this.

Our entire community is important to us, but as one of our buyers, you are even more so. You have invested with us – not only your money, but your trust as well. As we said immediately following the hack, we would simply not exist without our devoted buyers and miners around the world.

We are truly sorry for any inconvenience that the hack may have caused. We hope you will want to continue to invest your money and your faith in the world’s largest crypto-mining marketplace.

We would like to reiterate our thanks to you and hope that you will be back on the site shortly.

And there is is:



Thing is, I'm making double elsewhere what I was making on Nicehash before the hack so not really any reason to go back.

[Delboy]

Wow, who in their right mind would invest close too 60 million into a company that was robbed, unless its the very same people that stole it in the first place

[MikkiJayne]

That thought occurred to me too.

"Yeah most of our investment came from a bloke called Kim with a 175.45.177 IP address"

Seems legit

[ainarssems]

Good news I suppose but I am waiting to be actually paid before celebrating and like you said we are earning more elsewhere now so no reason to go back. I already had ASICS on MRR before the hack and only mining on NiceHash when not rented out and was looking to move GPU rigs as well, hack just sped up things.



Mined a bit of Digibyte (750 worth about £20-30 depending where you check) https://www.digibyte.co/ yesterday while L3+s were not rented out. I think I will set it up to mine a bit of Vertcoin https://vertcoin.org/ next time it's not rented out. Not cashing in any of these as it's not economical to exchange small amounts just expanding portfolio, who knows might be worthless or worth a small fortune one day
ETN difficulty have gone up a lot so I think I need to look at mining something else on CryptoNight as well, Sumo seems to be most profitable at the moment https://www.sumokoin.org/

Came accross soem interesting motherboards where you can plug many GPUs on the motherboard without risers

6 GPU version with onboard CPU https://www.aliexpress.com/item/100-...StoreLevelAB=5 I think I might give this one a try, seems very cost effective considering that you don't even need to buy CPU.

8 GPU version https://www.aliexpress.com/item/100-...StoreLevelAB=5

Rumour has it there are 9 and 12 GPU versions coming out as well.

I assume the latest S9 batch was BCH payment only? Last couple of times when Bitmain releases new batch of miners with BCH payment only BCH prices goes up a lot due to increased demand, then slowly falls back. Next time could be opportunity to buy some BCH before price goes up if you can do it in time and then sell before it starts dropping. If you hold some at the moment it could be time to sell while the price is still high. This is just a speculation and I could be wrong or they might release another batch tomorrow and push the prices even higher but at least something to think about.