Crypto currency mining

[ainarssems]

[moltuae]

Profitability-wise, I suppose now is probably the right time to be buying and mining, but it's just too damn hot to mine right now.

[ainarssems]

New S17e and T17e coming out on Monday, T17e of little interest but S17e looks like slightly overclocked S17 Pro model permanently in Turbo mode. If it's less than 3k USD I might consider buying one but seems unlikely considering prices of Pro models and that it will be shipping before the Pro models.

https://blog.bitmain.com/en/bitmain-...selling-times/

My cheap electricity tariff also runs out end of September

[moltuae]

Hmmm, might consider an S17e too if they're cheap enough. But to be honest, I'll probably stick with what I have for now (5 x L3s, 2 S9s and 2 x GPU rigs). All of my rigs have been switched off throughout the warm weather because none of them are particularly profitable but, as the weather is beginning to cool now I'm turning some of them back on to the heat the house. They may not earn a great deal but they still earn more than any other form of heating.

I just keep buying a little more BTC whenever there's a dip now instead, which can be more profitable than mining if you time it right. The bad news is I think it might have dipped under $10K for the last time (I was holding out, hoping it might get as low as $7-8K again). However, I think the good news might be that pressure is building for another big bull-run soon.

[ainarssems]

I have been running my L3's only onthe free night tariff and as my cheap tariff comes to end the may be switched off all together and I might use S9's in low power modd to heat the house instead.

[ainarssems]

New S17e and T17e coming out on Monday, T17e of little interest but S17e looks like slightly overclocked S17 Pro model permanently in Turbo mode. If it's less than 3k USD I might consider buying one but seems unlikely considering prices of Pro models and that it will be shipping before the Pro models.

I was busy at the release time and I expected them to be quite expensive but at $2784 for S17e shipping in November I might have bought one. They are out of stock now and the ones shipping in December are $3293

[johnmeller]

Originally Posted by ainarssems

As everyones seems to be interested in trading bitcoin and mining it. I think it will be a good step to move to other popular currencies like Ripple, NEO, Litecoin, Ethereum, etc.

[ainarssems]

Don't think Ripple and Neo can be mined.

But yes I am mining Eth and Litecoin or to be more precise I am mining Eth and was mining LTC in the past, now it's too expensive to mine LTC even when using heat to warm the house. If you want LTC it's cheaper just to buy it.

[Regulus]

As you know, I never had any crypto currencies. I invested in gold and silver bullion instead.

With the stock crash going on now, it is interesting to watch the crypto and bullion response.
There is a shop in Oslo which trade in bullion. But it closed yesterday. For how long, I do not know. And I have seen that the shop removes coins for sale when the prices drop - and offer a wide selection of coins when the prices are high.

I find it confusing that the crypto currencies drop along with the stock markets. They were supposed to vault higher in this environment, or did I miss something?

[moltuae]

Originally Posted by Regulus

They were supposed to vault higher in this environment, or did I miss something?

It is strange. It think it's triggered by a knee-jerk reaction of larger ('whale') traders which in turn causes general panic selling.

There's still a great deal of ignorance around cryptocurrencies too. Most people don't understand what they are, nor do they realise that they're decentralised and operate entirely independently of any government control. Stability will only come with mass-adoption and the acceptance that cryptocurrencies are unstoppable.

Still, price crashes like these are good for Bitcoin in the long term. Whenever this happens it brings new investors who were waiting for an opportunity to buy at the 'bottom'.