Crypto currency mining

[MikkiJayne]

Originally Posted by moltuae

The ROI and efficiency of GPUs isn't as good as an S9

Vegas are pretty close at the moment. My two are turning out 1.3 to 1.5 mBTC a day on Nicehash, for a total rig cost of £1200 and 470W of electricity (which could be optimised further with custom BIOS). ROI is 3 months at that rate.
Nicehash shows the S9 as making 1.7 mBTC for, what, 1KW of electricity? If I can get hold of another pair of Vegas it should hit 3.0 mBTC for 800W and total cost of £2200. That seems comparable value to the S9 at the moment?

Tbh, since the Vegas are doing so well, and Bitmain are such shysters I'm not bothered about acquiring an asic. Just more Vegas when the next batch lands in a couple of weeks

I got a couple of RX580s today as well since a new batch of those came in, so I can have a play with other algos without upsetting the Vega rig.

[moltuae]

Originally Posted by MikkiJayne

Vegas are pretty close at the moment. My two are turning out 1.3 to 1.5 mBTC a day on Nicehash, for a total rig cost of £1200 and 470W of electricity (which could be optimised further with custom BIOS). ROI is 3 months at that rate.
Nicehash shows the S9 as making 1.7 mBTC for, what, 1KW of electricity? If I can get hold of another pair of Vegas it should hit 3.0 mBTC for 800W and total cost of £2200. That seems comparable value to the S9 at the moment?

You're right, that is pretty comparable. I might have to consider getting some Vegas. I think the S9 actually pulls more like 1.2 - 1.3 kW.

[ainarssems]

Antminer A3 is out, Blake 2b algorithm, only for Siacoin as far as I know. https://shop.bitmain.com/productDeta...65a2ljX8gx06D3 $2375, at the moment would be very profitable $400-500/day but this will drop a lot once they go online. The whole Siacoin network has hashrate like 700 of A3's so if Bitmain ships 10,000 units income will be down to about $30 if 100k units - $3/day, looks like they have sold about 2000 units so far. Who knows ho much they have available and how much people will buy. I think many are cautious after what happened with D3 as it's not sold out yet. I am not sure I want to risk one but they are shipping within 10 days of payment so could be opportunity if get in quick enough. $2375 is a bit rich, if it was $1500 I would probably risk 1, I will have to think about it maybe buy 1 together with my friend if still available. When the profits go down it will push Siacoin prices up, currently $0.04 so plenty of headroom to go up. Maybe it's better just to buy some Siacoins and wait for prices to go up instead of buying miner

[moltuae]

Originally Posted by ainarssems

When the profits go down it will push Siacoin prices up, currently $0.04 so plenty of headroom to go up. Maybe it's better just to buy some Siacoins and wait for prices to go up instead of buying miner

Exactly what I was thinking.

I already have some Sia that I bought a while ago (I think it has a lot of potential -- think 'decentralised/distributed 'Dropbox'). It has quite a high coin supply (31 billion) so it's never going to be hundreds of Dollars, but I think it could maybe get as high as $1 some day. Hmmm, maybe I should buy some more ...

[ulfilias]

I saw the A3 on an email. Said available 2:30pm today +8hrs, so that 10:30 tonight ???

It's a hard time for it to go on sale, with the crash, but maybe they're trying to counteract that one ???

If it can only mine one coin, i'd be very cautious.....Is there nothing else on Blake2b ??? The S9 has about 8 and 3 are good coins (BTC, BCH, DGB) with the others occasionally looking interesting and all with solid hash rates.....Though i've noticed it dropping. I'd get ~£30 a day in December and it's now about £20!

Also my 4xGTX970 rig on Trezar once I got a reasonable pool is getting close to equaling that and it did pretty good on Electronium and BTG when it was mining those. Considering it cost me £1000 and is pretty quiet and more efficient on power the numbers are a lot closer than I used to think. It takes more time to manage and tweak, but it's more flexible

Hence the idea of building a rig....

[ainarssems]

That was 2:30pm Beijing time - 6:30am GMT(or UTC as it's called now). I understand there was limit of one per account and they are having technical issues with with website so not available at the moment but the same batch should be available later. About 5.5k units sold and paid for so far.

[ulfilias]

Dammit.....Sia doesn't appear to be on the exchanges I use. Cryptopia / Binance

Looking at the announce thread it's also going to fork shortly!

Not in coinomi either!

[moltuae]

I used Poloniex.


Edit - Can't find any info about the upcoming fork but I found this, relating to a hard fork that was scheduled to occur on Dec 6th:
https://blog.sia.tech/reminder-upcom...k-e0ffcde9ebcc

Edit#2 - Looks like the upcoming fork might be an update to address issues with the previous fork/update:
https://blog.sia.tech/sia-community-...r-f274b99fca89

[steamship]

Originally Posted by moltuae

I used Poloniex.


Edit - Can't find any info about the upcoming fork but I found this, relating to a hard fork that was scheduled to occur on Dec 6th:
https://blog.sia.tech/reminder-upcom...k-e0ffcde9ebcc

Edit#2 - Looks like the upcoming fork might be an update to address issues with the previous fork/update:
https://blog.sia.tech/sia-community-...r-f274b99fca89

Slightly OT on the mining side of things, I was going to ask about where you could buy crypto-currencies, as opposed to investing in mining equipment.

I had a quick look at poloniex and everything is priced in BTC. Does that mean you have to buy BTCs before you can buy other currencies, or does it give you an option of using old fashioned money if you have an account? If not, where do you buy BTCs?

[MikkiJayne]

Most of the crypto exchanges work solely in crypto, apart from a few like Coinbase but then they only have four currencies.

Bittylicious is a good place to buy crypto with sterling. Ainars mentioned another one a page or two back as well, but Bittylicious had better rates at the time. Set up a wallet such as Exodus and use the addresses from that when you buy, then you can use it on poloniex or cryptopia etc to buy other coins. (Exodus's conversion rates from crypto to GBP are very optimistic so it appears like you have a lot more value in GPB than its actually worth if you try and spend it)

Shapeshift.io is also good for buying some coins, but its quite limited compared to the big ones. You don't need an account on it though - just put in wallet addresses and amounts and it does its thing.

Personally, I'd suggest using something other than BTC if you're buying other currencies with it as the network fees for BTC are crazy for small transactions, whereas LTC for example is much less. LTC can be a little hard to come by on Bittylicious though.