Crypto currency mining

[ainarssems]

Another weekly update


After the changes I made last week RX Vega 56 has been working faultlessly @1.9kH/s, profitability has gone up a bit for CryptoNight again so it's earning about £145 per month with £18/month electricity costs. I guess I should have bought more of them while they were available at under £400. Now it seems they are sold out everywhere and the ones that are still available are more expensive than cheapest Vega 64. The cheapest CryptoNight rig available for rent on miningrigrentals was about 15% more than 24hr average on NiceHash so I tried to set up rig on their site for rental but unsuccessful so far, it connects to pool and then just 'Socket closed' and does nothing. So left it alone for now, will try again later, maybe contact their support.

My third L3+ has arrived unfortunately not as good as first 2 as one hashing board does not respond well to overclocking.

D3 should be arriving on Monday, will test it first that it works OK, then flash modified firmware and go for best power efficiency. I think i will mine Dash directly and hold on to it as Nicehash although have gone up for X11 does not bring in much.

I was going to do some power and ethernet wiring to garage this weekend but got a bit side tracked and also could not decide best routes and locations so that's still on to do list. I need to figure out at least temporary solution fast as at the moment i do not have where to plug in D3.

Couple of my friends have started mining as well or are leaning that way. One has 3x GTX 1060 and is thinking of buying 6x GTX 1080 Ti. Not that interested in ASICs as he has no place to put them due to noise. One has bought S9 of ebay for £3k, another one thinking of selling car which he does not really use and getting S9 from Bitmain. Another one ordered 2 S9's from Bitmain with my help. Set up Electrum wallet for BTC, Electron Cash wallet for BCH, bought BTC on Bittylicious, this took some time due to limit you can purchase as new member, transferred from BTC to BCH using shapeshift.io and bought them from Bitmain. He mostly bought them for resale as has no place to put them due to noise. He spent about £2900 for both with about £80 worth of BCH left over and expects to pay about £550-600 in import duties then to sell on for £3k each.

[moltuae]

Originally Posted by s2_bo

Did anyone else buy into the C20 crypto index portfolio before it closed a couple of days ago?
Just wondering what peoples thoughts are about it as it looks to be pretty sold.

I haven't heard of that one in particular but I have taken a gamble on 2 or 3 ICOs myself. ICOs are generally a much more risky investment of course, and some of them are total scams, but that one does look like it might be genuine and quite promising. Good luck!

There's ratings and info on most ICOs here: http://icorating.com/
Crypto 20 (C20) is here: http://icorating.com/project/638/Crypto20

This is quite a useful ICO info site too: https://www.coinschedule.com/

Originally Posted by ainarssems

I think i will mine Dash directly

Have you considered which pool you'll be using yet?

I'm using this one presently: https://poolmining.org/pool/dash

It's a PPLNS pool so it'll take another week or two before I can tell what the earnings are averaging at, but I think it might achieve about 0.1 Dash per week.

Originally Posted by ainarssems

Couple of my friends have started mining as well or are leaning that way. One has 3x GTX 1060 and is thinking of buying 6x GTX 1080 Ti. Not that interested in ASICs as he has no place to put them due to noise. One has bought S9 of ebay for £3k, another one thinking of selling car which he does not really use and getting S9 from Bitmain. Another one ordered 2 S9's from Bitmain with my help. Set up Electrum wallet for BTC, Electron Cash wallet for BCH, bought BTC on Bittylicious, this took some time due to limit you can purchase as new member, transferred from BTC to BCH using shapeshift.io and bought them from Bitmain. He mostly bought them for resale as has no place to put them due to noise. He spent about £2900 for both with about £80 worth of BCH left over and expects to pay about £550-600 in import duties then to sell on for £3k each.

Wow. So can we expect the total hashing power of Northants to exceed that of China soon?

[MikkiJayne]

UK plans tighter regulation of bitcoin

[moltuae]

Good luck with that!

A few governments (inc China and Russia) have tried. The best a government can hope to do is control the flow in and out of their own fiat currency, which will ultimately hurt the economy by excluding it from a growing global cryptocurrency economy.

Or, if they're really desperate they could play the 'terrorism card', by using propaganda to spread misinformation and fear, but of course the government would never sink that low ..... no, wait!

Apparently file-sharing was to blame for terrorism too (and they couldn't stop that either):

https://www.privateinternetaccess.co...-exploitation/

https://gizmodo.com/244452/file-shar...orts-terrorism

[moltuae]

It's interesting that Venezuela, like Russia and China, have now moved on to the '3rd stage of grief', while the UK is still apparently on the 2nd stage of grief:

The Five Stages of Grief

Venezuelan President Announces 'Petro' Oil-Backed Cryptocurrency:
https://www.coindesk.com/venezuelan-...ryptocurrency/

http://money.cnn.com/2017/12/04/news...ncy/index.html

[ulfilias]

Hi There,

The internet was designed to be an ultra resilient communications network. The very basis of it is that it is really really hard to stop. Governments seem to constantly miss this fact. There isn't a single switch or point of control. I guess the best would be the power network, but even then with lots of people having alternative power sources even that wouldn't do so well. They could try restricting access like China, but there are plenty of ways to negate that and there would be a MASSIVE outcry and it seriously wouldn't work apart from probably removing the government. They still need our votes for democracy and to stop things going very distopian!

Ahhh....the old Terrorist gaff. Total FUD and shows a lack of understanding. *ANYTHING* can be used by terrorism. No cash is ever clean!

I've had an interesting few days. I was playing with Bitcoin Gold on my 4x GTX 970 rig and it was doing pretty well. Supranova was doing pretty well, though their network share was getting a bit big and their luck a bit low. So reading things i ended up looking at Coinotron however my Ethos miners were reporting oddly and I went looking for other mining programs.
Then i found ETN on cryptonight which is very new and pulling in a lot of coins. Price is uber low at about 5p but given i should get 70-80 a day it's very comparable with BTG earnings and I *LIKE* the fact i'll get a load of coins. Powerwise it's also a lot less intensive which is nice for home mining.
Downside my cards are at 40-50 rather than 60-70 and my living room is cooler

ETN being a little new and having wallet issues (command line atm) i've stuck with Supranova as it doesn't need a wallet to start with. Limits the pool choice but works until they sort out something decent!

Oddly I spotted an ICO on Friday night and i'd been meaning to have a play with one - Angel
https://bitcointalk.org/index.php?topic=2385917.0
May have dropped an Ether on it....Got 7124 of the little buggers. Not enough for the 10K club, but enough that as a gamble it should clean it's nose!

[Delboy]

Given what you have learnt what would you build and to mine what at this time?

[moltuae]

Originally Posted by ulfilias

Ahhh....the old Terrorist gaff. Total FUD and shows a lack of understanding. *ANYTHING* can be used by terrorism. No cash is ever clean!

Precisely.

And wherever there's money there's criminals, be it cash credit cards or cryptocurrencies.

Hadn't heard of ETN or Angel Token; both seem quite interesting. I'm not sure what ETN's unique selling point is but it's fairly unusual to see a British cryptocurrency.

[ulfilias]

Originally Posted by Delboy

Given what you have learnt what would you build and to mine what at this time?

Personally. I'm not sure I would. There are *LOADS* of coins and software and configurations. I've spent hours and hours trawling boards, improving hash rates, changing coins, algorithms and tweaking software.
I'm Ex-IT and it's been a load of fun and a lot of learning and i enjoy that and re-learning some of the stuff that i'd almost forgotten. It's a tweakers paradise, but that's part of the problem, it's a VERY big rabbit hole and can totally absorb time and i'm not sure there is ONE answer and if there is, how long it is that answer.

The mining rig is probably pulling it's weight over the month, but it's taken quite a lot to get it to do that. Sticking with a multi-miner/pool (nicehash) is easier but you loose a bit for that ease.
If you have a gaming PC i'd certainly give it ago. Or a PC that can take a decent graphics card. This is the cheap No/Low risk way.

The Antminer S7 was cheaper than the rig. It mines one algorithm and predominantly one coin (BTC). I've a choice of pools and a few setting tweaks but it basically just runs. Downsides is getting one (the S7 is older and easier secondhand, but the BTC spike has pushed it's resale value) and that the NOISE.

I'm playing more as investment though. I'm looking at getting coins and holding for a while, so the value now is nice, but i'm hoping the value in a while to be much better!

[Delboy]

Originally Posted by ulfilias

Personally. I'm not sure I would. There are *LOADS* of coins and software and configurations. I've spent hours and hours trawling boards, improving hash rates, changing coins, algorithms and tweaking software.
I'm Ex-IT and it's been a load of fun and a lot of learning and i enjoy that and re-learning some of the stuff that i'd almost forgotten. It's a tweakers paradise, but that's part of the problem, it's a VERY big rabbit hole and can totally absorb time and i'm not sure there is ONE answer and if there is, how long it is that answer.

The mining rig is probably pulling it's weight over the month, but it's taken quite a lot to get it to do that. Sticking with a multi-miner/pool (nicehash) is easier but you loose a bit for that ease.
If you have a gaming PC i'd certainly give it ago. Or a PC that can take a decent graphics card. This is the cheap No/Low risk way.

The Antminer S7 was cheaper than the rig. It mines one algorithm and predominantly one coin (BTC). I've a choice of pools and a few setting tweaks but it basically just runs. Downsides is getting one (the S7 is older and easier secondhand, but the BTC spike has pushed it's resale value) and that the NOISE.

I'm playing more as investment though. I'm looking at getting coins and holding for a while, so the value now is nice, but i'm hoping the value in a while to be much better!

So buying an S9 wouldn't be a good investment and a nice shed heater?