Crypto currency mining - Page 98

moltuae · #**971** 14th April 2019, 09:41 AM

Quote:

Originally Posted by ainarssems

I do not spend the BTC I have to buy stuff, instead I buy BTC to buy stuff.

Same here

I think there's a possibility that the BTC price could fall once more before it eventually hits record highs again but I think the likelihood of it ever going to zero, or even close to it, are pretty slim now. I'd certainly be buying a lot more BTC if it hit even sub-£1K prices, as I'm sure would millions of other people.

moltuae · #**972** 17th April 2019, 09:46 AM

Max Keiser makes an interesting prediction in this recent article/interview:

Article: https://www.ccn.com/max-keiser-peopl...enging-bitcoin

Interview: https://www.youtube.com/watch?v=OETgltmnJgE

Quote:

The hash wars will be played out on a state level and that’s what will take us to new all-time highs.

That's a scenario I hadn't considered until now.

Since governments can not stop or control cryptocurrencies, it makes sense that they will likely try to compete for cryptocurrency dominance instead. As the global economic situation worsens, there will come a tipping point where fiat inflation will greatly accelerate the flow of wealth into cryptocurrencies, further devaluing fiat currencies (just as it is already doing in some countries). Governments and central banks will want to prepare for that by moving much of the fiat they control into cryptocurrencies. But before they do, they will of course want to ensure that no other organisation or nation has hash-rate dominance.

ainarssems · #**973** 24th April 2019, 06:52 AM

Well I just gone and ordered S17 Pro-53TH/s from Bitmain.

moltuae · #**974** 24th April 2019, 07:45 AM

Cool

I haven't been following mining hardware developments to be honest, so I wasn't sure what that was. I remember hearing about there being a new 'S' miner in the works a while ago, so I guess this is it.

Looking at the specs, it seems it has about 4 times the hashing power of an S9 and consumes about 2-3kW -- not bad!

I'm guessing that it should make about £300/month, at the current BTC price, not counting electricity costs. Probably gonna be pretty LOUD though, judging by the fans and the size of it. Are you planning to run it or sell it?

I've turned all but one of my rigs off now that the warm weather is here. I'm still staking about 10 million Linda Coin though, which earns around 500,000 Linda/month (presently worth a little under £200). So not hugely profitable but not bad for doing nothing except owning some Linda Coin.

ainarssems · #**975** 24th April 2019, 08:09 AM

Don't know yet if keeping or selling, probably running it for a while, low power mode during day, Turbo mode on nights. I missed out on the first batch, while I was thinking whether to get one they were all gone when I checked 1 hour after release. This is the best there is out there and probably will be for a while, well there is non Pro model 56Th/s but Pro model can do up to 62TH/s in Turbo mode. Noise is up to 82dB in Turbo mode so a bit quieter than S9

ainarssems · #**976** 30th April 2019, 08:42 AM

Received S17 Pro yesterday afternoon but did not have any time for testing.

Had 45 minutes spare this morning so done a bit of limited testing in the kitchen. In normal mode it was consuming 2400W, hahsrate started about 10Th/s and was slowly climbing, do to limited time available I switched to low power mode after couple of minutes so highest I saw was 44TH/s. I am sure it would have gone higher if I waited longer, power consumption remained stable at 2400W. Noise was lower than S9 but higher pitch and so more annoying, at least to me. Fans running 3500-4200rpm

In low power mode it's consuming about 1850W, with ~40Th/s, lower noise and lower pitch, much more pleasant to the ear, about the same level as L3+ I would say. Battery has run out on my dB(a) meter, but phone app shows 55-60, not sure how accurate this is. Fans running 2400-3100rpm

Not tested turbo mode so far.

Need to modify the enclosure to have it running 24/7 and do not have much time so probably will not get much more testing done before weekend.

Only a couple of listings on e-bay for S17 and no complete listings so hard to judge resale value. It cost me about £2010 including duties so considering ebay and Paypal fees + postage it would probably need to be at least £2.5k to make it worth while selling it. Might put it on ebay for £2.7-3k with best offer and see what happens.

moltuae · #**977** 30th April 2019, 08:59 AM

~40Th/s at less than 2kW is pretty good for low-power mode, especially if it's significantly quieter

Quote:

Originally Posted by ainarssems

Only a couple of listings on e-bay for S17 and no complete listings so hard to judge resale value. It cost me about £2010 including duties so considering ebay and Paypal fees + postage it would probably need to be at least £2.5k to make it worth while selling it. Might put it on ebay for £2.7-3k with best offer and see what happens.

With hindsight, that's probably the best way to make money from ASIC miners, given the volatile profitability and price .... Get them mining as soon as they arrive but also put them up for sale at a higher-than-average price. If they sell quick, great -- buy more and repeat the process. And if they don't sell immediately, just keep them mining until they do.

ainarssems · #**978** 1st May 2019, 11:54 AM

Looks like I got a faulty unit. Normal mode and Turbo does not go over 44-45 TH/s, lots of HW errors. Power usage increases, hashrate does not. Low power also has lots of HW errors but hasrate is OK for low power mode 40-43TH/s. Sent logs and screenshots to Bitmain, will see what they say.

moltuae · #**979** 1st May 2019, 01:32 PM

Hopefully just a firmware issue. I believe they have European support and repair centres for hardware issues if not (in the Netherlands I think) so it shouldn't be necessary to return the unit to China at least.

ainarssems · #**980** 4th May 2019, 05:19 PM

I am not an expert but I do not see how it could be firmware issue. I think it's either bad chips or bad power supply, maybe error in supply chain and lower binned chips/hashing boards meant for T17 40TH/s ended up in S17.

Anyway they have national labour day holiday so will not get any response until Tuesday.

Speaking of PSU it's interesting that old miners like S9 had fixed voltage power supplies 12-14V or so and you could use any 12V power supply with another DC-DC converter on hashing boards to supply power to chained chips.

S17 is different that it has variable voltage supply 17-21V depending on what miner requests so it's more efficient overall cutting out DC-DC converter but it means you have to use PSU from Bitmain that comes with it.