Crypto currency mining

[ulfilias]

Originally Posted by ainarssems

They also have a new miner as well https://www.baikalminer.com/product10.php, this one has not been up for sale yet so if I can get one of the first batch I will probably go for it depending on price. At the moment it would earn a lot but this will obviously drop a lot once they start shipping but should still make decent return if I get one of the first ones.

And yet there are people on ebay doing pre-sales at ~£15K for them....How Scammy do they feel?!?!?!

[ulfilias]

Well that's interesting....I wanted some Tron which is on binance. I had some spare Digibtye that i was willing to play with as i've got the S9 mining it and it seemed to be doing well today.

So I sent 177 DGB (£0.073) to Cryptopia, Changed it to Litecoin so i could send it to Binance to buy. Found out i'd loose a fair slug of things that way, so read up and used XVG, got 110.* of those and transferred to Binance and bought 94 tron (£0.153).

Looking at the numbers it seems despite my bungling into LTC and out again and with fees i've made about £1.40 on the deals

I bought Tron high but seeing as i lost out on buying some XRP when I saw that having potential (a slightly low order on binance and the bugger just rose and rose) and it's still "cheap" I thought it was worth the risk!

And yes I am playing with beer money, but I like the idea of having a little (£10-£50) of any coins in the higher end of the market cap that are below ~£10 and the lower the value the more you can get and the potential bigger rewards if they rocket and if they don't well my liver will be happy

[moltuae]

You've probably gained due to arbitrage, ie benefiting from the slight differences between different exchange prices. Some people use arbitrage to their advantage all the time, making money trading the price differences. In fact that's the mechanism that regulates prices between the exchanges. Whenever the prices differ substantially, from one exchange to another, traders will seize the arbitrage opportunity, pulling the prices back inline.


You can make a LOT of money by buying a low priced coin at the right time. Just a few hundred pounds' worth of the right coin can turn into tens of thousands if you're patient and willing to "HODL" for a several months. It can take a bit of nerve to take a 'long' position though, resisting the temptation to 'short' the coin the first time it pumps a little. Ride out the waves and, if the coin is worth investing in, you may eventually be rewarded with huge gains.

Not every low-priced coin is "going to the moon" though. Aside from the fact that there are a lot of sh*tcoins out there, some low-value coins have a very high 'supply' and are therefore unlikely to ever reach high values. If you look at Doge, for example, it presently has a circulating supply of 112,634,376,683. If the value of Doge ever got close the BTC prices, its market cap would probably be greater than the entire world's economy.

The things I look for when looking for alts to invest, apart from a low supply and low price, are value and community. The latter is important to help a coin get promoted and grow but if a coin is very new sometimes the community may still be very small. Value is the most important factor. You need to look for unique selling points, something that makes the coin special or innovate which will make it stand out from the rest.

[ainarssems]

That's my 7.5kW garage heater

[Delboy]

Wow that's quite a setup you have there.

What miners you running?

[ainarssems]

In the top picture if you look from left to right it's D3, 2x S9s, 2x L3+s and another S9. 2 of the S9s are actually my friends with us sharing the profits. But I do have another 1kW L3+ keeping loft warm and about a dozen GPUs providing 2kW+ heat around the house.

[moltuae]

Nicely done

You must need to wear ear defenders to go into the garage now with 3 S9s in there!

That's a good idea to put the PSUs on a shelf above. I've been placing them to the side of the Antminers on the same shelf, but your way looks neater.

[Delboy]

I see I missed out again on the S9 They should have a back order system and limit the amount people can buy to make it fairer.

If telegram is to be believed they sold out in 2 mins

[ulfilias]

Nice Setup ainarssems - I've only the one S9 in my garage. It's internal and on an estate and I don't want to make too much noise that it's obvious and gets questioned. As such one S7 (2 card) is in a study (Actually my server room) in the house and reducing my heating bill though I need to shut the door at night and it gets a bit warm in there!
The other is at work. Family business and I run a factory and it heats my office, though I'm half tempted to set up a little set-up here in one of the storage offices!!!

I've just done a spreadsheet on my crypto spend. I'm up to about £4.5K on an S9, an S7 an S7 (2 cards), Psu's and a 4x GTX970 and a little crypto since the end of October and i've got £1.5k-2k in currency.
Not too shabby since the S9 was the end of December!

I probably need to try and do one of what a machine has earnt though i've traded bits and i've half a dozen wallets with bits in here and there!!!

So.....How much were the S9's this time ??? I'd have been tempted

[Delboy]

They were for sale at 2320usd