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#871
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I've been mining Electroneum since December. CPU mining on some dual Xeon E5 servers I built, the total hashrate is around 2000 H/s. I chose CPU mining as these servers could be repurposed if I decided to stop mining in future whereas high-end GPUs have no use to me.
I was previously converting these straight to Litecoin but I think it's way too late for this to be very profitable. I'm now keeping all mined coins in my Electroneum wallet and see how the price goes in future - they've been down to $0.03/coin for a couple of weeks now. The highest I've seen was around $0.20 for a short time. I considered mining Bitcoins back in 2010 when it was easy but decided it was a waste of time and donated my CPU cycles to SETI instead. Probably not the best decision looking back!
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- 2005 Audi A8 D3 4.2L Petrol - 2008 Ford Mondeo 2.5T - 2000 Ford Focus 1.6 Last edited by MatthewH; 28th March 2018 at 11:01 PM. |
#872
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Do you believe that the tax bills around the world will hurt crypto?
We all heard about people mortgaging their house to buy crypto. So how will this play out? How many will have to get out of the crypto market, globally? At the moment I am reading Peter D. Schiff's book; The real crash, updated version. This guy is among the few that follow the Austrian economics model. He just posted a podcast that discusses crypto currencies. timeline 12:35 the party is over, not only in the stock market. It’s really over in the crypto currency market. 17:20 he talks about why this last crash is different 20:00 more people owning crypto are now at a loss, than how many still have a gain 26:35 Schiff talks about people will have tax problems, because they lost so much money and they don’t have enough left. Because they will not be able to pay their tax bills. And how some gambled all their retirement money. https://schiffgold.com/key-gold-news...-stock-market/ Youtube video showing how he was correct about the 2008 crash, and the experts laughing at his warnings https://www.youtube.com/watch?v=sgRGBNekFIw
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Johannes _________ Audi S8 -99, Pearlescent, Alcantara/silk napa leather, Burr walnut insert, Alcantara roof lining upper pack A8 32V engine ----- Jeep Grand Cherokee -98 |
#873
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Crypto has a long road and to be honest as an investment strategy has issues....It's not really why it was created, though being a medium of exchange, I can see why it's happening. It's worth a flutter with spare money but anyone betting their house on it is stupid and really hasn't done their research. Sure there are great gains to be main, but equally great losses. The Dot Com bubble that it's been likened to had quite a few winners amongst the losers and i'm sure crypto will be the same. From the ~1600 current coins there currently are will be maybe ~100 that will go on and do something interesting and no one really has an idea which and only time will tell.... This is why I've said from the start that beer money in a variety is a good plan, because you can write it off if nothing comes of it....However *IF* you are lucky (research has a part in luck here) and you hold the right ones through the storm then you may be able to change your fortunes! As for tax....well if I make enough to put me in the winning category at some point then it won't be an issue and if not, it's less of an issue! From the UK point of view, currently you only appear liable when you convert back to fiat, until that point it's all virtual.
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Current : 2005 A8 Sport 4.2 V8 D3 - LPG working! Previous : 1998 S8 PF 4.2 V8 D2 - Gearbox died ~120k 2002 S8 FL 4.2 40v V8 D2 Prins LPG - Engine valves met pistons ~230K Also : 1996 Jeep Grand Cherokee 4.0l (Post Apocalyptic makeover) 2003 Brabus Smart FourTwo (should sell) 2003 Mazda Rx8 2.3 (might sell) |
#874
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New Ethash miner from Bitmain. 180MH/s @ 800watts
https://shop.bitmain.com/product/det...3-announcement
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2005 6.0 W12 Quattro SWB - Need an OPEC membership to run it! |
#875
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That really is game over for GPU mining then
Both my rigs are switched off at the moment since they're barely covering their electricity usage doing Eth or Xmr and the weather is warm enough for the cats to no longer need a heater. I'm hoping for a bit of a bump in xmr when the Monero fork happens, but if asics can do eth now there's not even anything to fall back on. I've been hanging on to the Vegas waiting for the Monero fork, and watching the price of them tumble on ebay - they're <£500 now. Time to cut my losses? |
#876
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On the other hand, gold looks good. Why? Well Russia and China have been buying. And now China will offer to pay oil with yuan, which can be traded for gold on the Shanghai exchange. As for crypto currencies. The past months really hammered it home, that bitcoin is the foundation. The others dropped as well when bitcoin took a dive. Which I find curious. This doesn't happen in the currency market. When pound lost value, others didn't dive alongside. NOK (Norwegian krone) lost more than 20% as well earlier. But SEK didn't take a dive. So they were equal around New Year. (Very bad for me ) So why are the crypto coins so interrelated? It doesn't make sense to me. If I had made a guess before this happened. I would have guessed ethereum would increase in value compared to bitcoin. Never would I have guessed it would crash as well. So I have learned something I didn't know about crypto. I can't compare bitcoin to the US dollar either, when the crypto coin market behaves this way. edit: This market behaves, like I would expect the STOCK market to behave
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Johannes _________ Audi S8 -99, Pearlescent, Alcantara/silk napa leather, Burr walnut insert, Alcantara roof lining upper pack A8 32V engine ----- Jeep Grand Cherokee -98 Last edited by Regulus; 3rd April 2018 at 03:32 PM. |
#877
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Currently 8less 2011 Q7 S Line 3.0TDI, 2016 Tesla Model S 90D 8 history: 2006 A8 Sport 4.2TDI quattro SOLD, 1997 S8, reached end of life with gearbox failure Last edited by ainarssems; 3rd April 2018 at 03:20 PM. |
#878
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However Crypto now that Pandora's box has been opened can't / won't easily go back into oblivion in the same way that the early days of the internet wouldn't when there was a lot of FUD there. Even if one country attempts to ban it, they have to shut down the whole net pretty much to do it! Quote:
Bitcoin however has been the main media focus as it's a Name and people have heard of Bitcoin, even if they've not played with any cryptos. It's a bit like google or hoover and synonymous with the whole shebang. Quote:
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Current : 2005 A8 Sport 4.2 V8 D3 - LPG working! Previous : 1998 S8 PF 4.2 V8 D2 - Gearbox died ~120k 2002 S8 FL 4.2 40v V8 D2 Prins LPG - Engine valves met pistons ~230K Also : 1996 Jeep Grand Cherokee 4.0l (Post Apocalyptic makeover) 2003 Brabus Smart FourTwo (should sell) 2003 Mazda Rx8 2.3 (might sell) |
#879
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As for the new miners.....I'm not sure how much i'm willing to add to my crypto empire. Giving up, nope....I can see it's the right road, but there's trouble ahead with the Asics breaking the intended model
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Current : 2005 A8 Sport 4.2 V8 D3 - LPG working! Previous : 1998 S8 PF 4.2 V8 D2 - Gearbox died ~120k 2002 S8 FL 4.2 40v V8 D2 Prins LPG - Engine valves met pistons ~230K Also : 1996 Jeep Grand Cherokee 4.0l (Post Apocalyptic makeover) 2003 Brabus Smart FourTwo (should sell) 2003 Mazda Rx8 2.3 (might sell) |
#880
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The Monero hard fork happened last night and bizarrely the network hashrate has gone up by 25%
Difficulty has followed suit, pay rate on Nicehash has stayed about the same for both Cryptonight and CryptonightV7 although more miners are on V7 now. It makes no sense to me at all. I was expecting the network rate to drop as all the asics would be stuck on the old version Its still not worth turning the rigs back on |
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