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MKIV intervention needed
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waste of money. 1050ti in my regular computer only gets 12.3 mhs on ethereum, 15.7 when memory overclocked 1000mhz (maxed out). there isn't another more profitable currency for it right now either.

it's basically only being sold because other cards are so high priced that people are flocking to the worse cards in order to try to cash in on dumb people. the ROI is what people should be looking at when buying. the the ROI can trick people because it's constantly changing. when i started, ROI for my setup was about 3 months, now it's about 7 months (if i started from scratch). and it's going to keep changing.

you could still get 1060s (3g cards) for the same price as the 1050ti right now because they are being bought up.

when i bought my cards, they were all 240-275 for the 1060's. and my 1050ti for my regular computer was only 135. prices have skyrocketed where you have to not like getting money back very quick to invest in it now. currently 1060s are 360-399. and 1050ti look like they are 260-275. all because as something goes out of stock, people are buying everything they can to cash in.

take a look at the sold listings to see what people are buying used mining setups for. looks like you could get a prebuilt 1060 6 card for about 2-3k


TL ; DR if you are going to get invested, go big. the ROI is close to the same, but once ROI is hit, the payoff is much larger.

if you want to get in, wait til the end of the year and try to snag the new Nvidia volta or whatever the fuck they are gonna be called line of cards. get a 2070 ti or 2060 or whatever they end up being.
perfect. i suspected that with pallets of miners in some of these peoples photos. thanks
 

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Discussion Starter #122
Why would you go with slow 1050s.....here is 5 1070 TIs for half the money - https://www.ebay.com/itm/5-Geforce-GTX-1070-w-TI-Mining-Rig-BTC-ETH-BTG-ZCash-NR/123028633197?_trkparms=aid=888007&algo=DISC.MBE&ao=1&asc=44040&meid=8861e4395df8402389ad3933c83d66dc&pid=100009&rk=1&rkt=1&sd=183132822500&itm=123028633197&_trksid=p2047675.c100009.m1982


Im looking now...there are bunch of sales for these "mining rigs". Are people giving up on mining?





I was reading that Nvidia will be making 2 types of cards - one for mining , one for gaming. There are still unsure will they mark them as "11xx" or "20xx"
its not that people are giving up on mining, there are a couple ways the wind is blowing.

1) people who jumped in not knowing what it was and then jumped out because thats what they do, same people who buy a mkiv supra, after proclaiming it was their dream car their whole life, then sell a month later.

2) people who freak the fuck out when they thought they'd be a millionaire in two weeks after spending 3k on a computer. then dump it at the first sign of market drops.

3) people who are making as much as they can handle when it comes to their own personal mining and space available, and so they sell rigs after building them because there is a market for them, or they buy and sell them because of the people in number 2. good example is the friend down the street with 50+ 1070ti taking a whole room in his house, in addition to this he orders all the parts and builds rigs for people who know nothing about it but want in on it, for a price. those people are likely to dump it when things start looking bad.
 

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Discussion Starter #123
Wonder how the emergence of new cryptocurrencies will affect the value of bitcoin and other cryptocurrencies. It seems logical that they would drag each other's value down.
there are hundreds out there. with the source being open it means anybody with knowledge can start their own cryptocurrency, the difference is what they add to it, what their goal is, what their idea and long term goals achieved are, and how much support and backing they have with it.

go to coinmarketcap and look at how many ungodly amounts there are out there. some people treat them like penny stocks and buy 10 bucks of every single one in hopes of one making a 20,000% jump from .00002c where it started so they can get quick cash.
 

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So let me get this straight, some of you guys on here really are getting in on this? Like you've spent a few thousand dollars already to build these computers that sky-rocket your electric bill? And the trade off is you're earning bitcoins, but not actual money?
 

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I'm your huckleberry...
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So let me get this straight, some of you guys on here really are getting in on this? Like you've spent a few thousand dollars already to build these computers that sky-rocket your electric bill? And the trade off is you're earning bitcoins, but not actual money?
I know, I'm extremely sceptical. Staying well clear of it.
 

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Trust In Trance
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So let me get this straight, some of you guys on here really are getting in on this? Like you've spent a few thousand dollars already to build these computers that sky-rocket your electric bill? And the trade off is you're earning bitcoins, but not actual money?
Bitcoin IS money. Your computer mines, and when you get bitcoin, you sell it on the market and get actual $$$. Or, you can keep them , (you have your "electronic wallet") and wait when the bitcoin price spikes on the market and sell it at the right time and make even more. Bitcoin went from ~1000 to 20.000 dollars in a matter of few months. So if you mined few bitcoins and waited instead of selling it right away, you made 20x more. Of course, it was just a short period when it hit almost 20k, but, who knows. MAybe it will jump to 50k tomorrow , maybe it will drop to 500.
 

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Trust In Trance
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Why do you need advanced graphics cards to do a bitcoin transaction? Isn't it just a calculation that doesn't need video?

Graphic cards also use GPU (Graphic Processor Unit), that can also does mathematical problems, and these cards/GPU can do way more "instructions per clock" than CPU (Central Processor Unit)

A CPU core can execute 4 32-bit instructions per clock (using a 128-bit SSE instruction) or 8 via AVX (256-Bit), whereas a GPU like the Radeon HD 5970 can execute 3200 32-bit instructions per clock (using its 3200 ALUs or shaders). This is a difference of 800 (or 400 in case of AVX) times more instructions per clock
 

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Discussion Starter #131
Graphic cards also use GPU (Graphic Processor Unit), that can also does mathematical problems, and these cards/GPU can do way more "instructions per clock" than CPU (Central Processor Unit)
more importantly it's a different kind of computation though. there are specific crypto's that are better mined with a CPU than a GPU like cryptonite.

theres even a few that are HD mineable
 

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Bitcoin IS money. Your computer mines, and when you get bitcoin, you sell it on the market and get actual $$$. Or, you can keep them , (you have your "electronic wallet") and wait when the bitcoin price spikes on the market and sell it at the right time and make even more. Bitcoin went from ~1000 to 20.000 dollars in a matter of few months. So if you mined few bitcoins and waited instead of selling it right away, you made 20x more. Of course, it was just a short period when it hit almost 20k, but, who knows. MAybe it will jump to 50k tomorrow , maybe it will drop to 500.
Ok, so please tell me, no bullshit, no estimates, exact amounts:

1. How much actual money have you spent buying computers and parts to mine?

2. How much additional money have you spent on your electric bill to support mining?

3. How much actual time have you put into this venture?

4. How much actual tangible cash have YOU ACTUALLY MADE that you have on hand right now?
 

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Trust In Trance
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Ok, so please tell me, no bullshit, no estimates, exact amounts:

1. How much actual money have you spent buying computers and parts to mine?

2. How much additional money have you spent on your electric bill to support mining?

3. How much actual time have you put into this venture?

4. How much actual tangible cash have YOU ACTUALLY MADE that you have on hand right now?


And this is where i start calling people names. :( Craig are you stupid or what? Do you even read? Do you understand what people say to you? I dont even understand whats bothering you - Are you just unable to understand how cryptocurrency transfers to an actual money, or you just dont understand how people find it profitable? Or both?

I told you in my first reply that "Kracin will explain details since HE IS THE ONE who does it". If i told you that "HE is the one", why the hell would you ask ME all this question. Tell me....quote the sentence i said that made you believe that i do mining? If i do it, i would not need Kracin (or anyone else) to explain the details.And you could see also that i was the one who "confronted" Kracin about earnings vs investment not agreeing its worth IMO. So how did you come up with an idea that i into this?

I dont do mining, but my really good friend does it.He start doing bitcoins year ago. And as i told you, depending on how much bitcoin is on the market, his earning fluctuates. He has 8 computers and i believe 7 GPUs in each computer. When him and i were talking like a year ago, he was making like 300 bucks a month CLEAN MONEY. I believe bitcoin was ~1000 dollars at that time. Right now, he makes ~2000 a months (after the electricity). He "earns" bitcoin , and when he does, sells it immediately and gets actual money on his account. Its THAT simple.

Now, if you want to find out how or why its profitable for some people, thats debatable and a totally different story. Kracin says he makes 8$ per day and he finds a profit in that. Some people would not touch it without the profit of tens of thousands a month. I dont know what you consider under a good profit so i dont know would this make sense to you.

I PERSONALLY am not interested because i dont think it as a stable market at all. I personally dont see investment (money, space, time...) justified with earnings. And most importantly, i believe that world government will find a way to destroy it or not allow people to make basicly "free money" just like that. Im not sating im 100% right, i could be wrong, i just dont see it working on a long run.
 

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And this is where i start calling people names. :( Craig are you stupid or what? Do you even read? Do you understand what people say to you? I dont even understand whats bothering you - Are you just unable to understand how cryptocurrency transfers to an actual money, or you just dont understand how people find it profitable? Or both?

I told you in my first reply that "Kracin will explain details since HE IS THE ONE who does it". If i told you that "HE is the one", why the hell would you ask ME all this question. Tell me....quote the sentence i said that made you believe that i do mining? If i do it, i would not need Kracin (or anyone else) to explain the details.And you could see also that i was the one who "confronted" Kracin about earnings vs investment not agreeing its worth IMO. So how did you come up with an idea that i into this?

I dont do mining, but my really good friend does it.He start doing bitcoins year ago. And as i told you, depending on how much bitcoin is on the market, his earning fluctuates. He has 8 computers and i believe 7 GPUs in each computer. When him and i were talking like a year ago, he was making like 300 bucks a month CLEAN MONEY. I believe bitcoin was ~1000 dollars at that time. Right now, he makes ~2000 a months (after the electricity). He "earns" bitcoin , and when he does, sells it immediately and gets actual money on his account. Its THAT simple.

Now, if you want to find out how or why its profitable for some people, thats debatable and a totally different story. Kracin says he makes 8$ per day and he finds a profit in that. Some people would not touch it without the profit of tens of thousands a month. I dont know what you consider under a good profit so i dont know would this make sense to you.

I PERSONALLY am not interested because i dont think it as a stable market at all. I personally dont see investment (money, space, time...) justified with earnings. And most importantly, i believe that world government will find a way to destroy it or not allow people to make basicly "free money" just like that. Im not sating im 100% right, i could be wrong, i just dont see it working on a long run.

tl;dr



Numbers.... that's all i'm interested in. How much actual money have you made.
 
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