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Bitcoin prices hit new record high of over $2200 (10/13 Update: peaked at $5,829)
- Thread starter XiaNaphryz
- Start date
Aztechnology
Member
I take back what I said on my skepticism of Nice Hash. I get it now. It's nice. I made like .002 BTC while I was sleeping.
Here is a post from one of the main XBY devs:
Source: https://bitcointalk.org/index.php?topic=1793468.0
So XBY is a continuation of the Bitmox scam coin. Whether the continuation is just the source code, the scam or both remains to be seen but yes, red flags can be seen.
MrCunningham
Member
I was thinking about getting into bit coins at the end of 2016, but their value just keeps rising and rising. I don't think it is worth it to purchase like... 1/20th of a bit coin at $125 dollars or so. This bubble is most definitely going to burst, but not to an insane degree. I also thought about signing up to a contracted cloud based mining thing for other cryptocurrencies, I feel like I should get in on it at some point. But, I dunno?
That's not bad. What hardware are you using?
Aztechnology
Member
Currently just a two RX 480 4GB setup. Friend helped me hammer out some bios stuff to get it to 29MH/s each at <=70w per card and reasonable temps (65-72) the cooler isn't great as they are HP variant 480's . I'm debating adding my GTX 1070 at night while I'm not using it, once I get some risers.
Btw anyone have a recommendation for risers?
Nice. I just started messing around with this and my 1060 does about 22mh/s mining Ethereum. I want to build a dedicated rig but RXs are sold out everywhere right now except ebay, and those have huge markups.
Aztechnology
Member
I mean I'd you can get the power targets good on the 1060 they really aren't that bad m they aren't 4 or 5/70/80's but if you can find good deals on 1060's they work.
Aztechnology
Member
Awesome. I got my combined Hashrate of my 2*480 4GB to 58-59 MH/s after a little bios tweaking for memory consistency and power adjustments. This is at an average power usage of 67w per card. ~20w CPU, probably could underclock it.
Predicted income per day on Nicehash is $13.7 before I even add my GTX 1070
Predicted income per day on Nicehash is $13.7 before I even add my GTX 1070
I'm pretty new to this. Are you selling hash power through nice hash then?
Aztechnology
Member
I'm trying it. By it my friend who is just straight mining ETH is making more and it's not been hard for him to sell it. So might switch over tonight. I think I'll be making about 30% more.
DonMigs85
Member
I'm using a Gigabyte RX 570 overclocked to 1330MHz and the power limit maxed at 50%.I must be going about this the wrong way. I get around 22-24
where would one go to learn more about how to do this?
Aztechnology
Member
I can tell you how to flash your bios, if you want. Basically the hashrate on the 70/80 cards seems to be really dependent on memory. So you want to make sure the memory timings are as consistent as possible. I can probably find a guide to link. After that it's just tinkering. Brought my MH rate up from 23/24 to 28
ShadowKingpin
Member
Any tips for a newbie? Almost finished building my new PC and would love to try this. Is Ether worth mining? Also, what program do you use?
Aztechnology
Member
Oh I'm pretty much a newbie too, just have friends who are a little better versed overlooking my progress.
Yea Ether with NiceHash is pretty much the top thing people are renting my rig for to mine.
I'm going to see what I get for 24 hours with Nice Hash then try a ETH pool after. My buddy with his 480/290 rig is making $13 a day after fees in his pool with nearly the same hashrate as me. So if Nice Hash doesn't come close I'll switch over and let you guys know what I find.
I switched from Nicehash to Claymores miner and getting 25 mh/s from my 1070. Interested to see the results by tomorrow morning
DonMigs85
Member
I did flash to the latest official BIOS from Gigabyte, and left the memory at the default 1750 MHz clock. I guess I would use the same flashing tool?
ShadowKingpin
Member
What's the difference between solo mining and doing a pool in regards to profit? Yeah, I will have a 1700/GTX 1070 build (Until Vega releases). Now, is the mining as simple as running a mining program and leaving your PC on to run its course like Folding@Home?
DonMigs85
Member
Pretty much, yeah. Just be sure to link a Bitcoin wallet to it
Aztechnology
Member
Unless you have a pretty insane set of systems you're not going to be mining a coin by yourself. Basically a pool just allows for a large group of people to create a coin and you get rewarded based on how much work your contributed.
Yes basically after getting everything set up, tweaking your system for power and efficency you just let it run.
Unknown Soldier
Member
I hope you calculated how much your electric bill will be when counting how much you can make per day.
ETH is hanging around that $235 wall again. Let's see if it can muscle up and break through or drop back into the $220's again.
ETH is hanging around that $235 wall again. Let's see if it can muscle up and break through or drop back into the $220's again.
Aztechnology
Member
You'll want ATI flash and Polaris Bios Editor and atikmdag patcher.
Assuming you're on windows 10.
The basic steps are running ATI flash, save the default bios of each card for backup purposes.
Make an extra copy of the first bios. Call it modded or whatever you need to remember it.
Open the file in Polaris Bios Flash, take the memory value in the 1750 slot, copy it into the 1900 and 2000 slots, overwriting the values. Save the changes.
Next run ATI flash again, choose the GPU and click program. Do not restart after it finished flashing. Uninstall the AMD drivers.
Go to your power off options and click restart while holding shift. Go to troubleshoot, advanced options, startup settings and restart. When it restarts choose 7 for running with driver signatures disabled. Once in Windows, re install AMD's catalyst drivers and the latest version 17.5.2 or whatever.
After that is installed, do not restart. Run Atikmdag patcher and viola.
Do this for any other cards of the same type/model. And you should see a nice boost. I went up about 5 MH/s.
Yea I did. I have a power monitor running on the computer keeping track of usage, cost etc.
It's costing me less than 20 cents to run my computer a day right now.
Is XVG a good one to invest in?
Benzychenz
Member
I still do not understand what they are.
Aztechnology
Member
Why?
Skiesofwonder
Walruses, camels, bears, rabbits, tigers and badgers.
I have 5000 xvg coins, wish I would have gotten in earlier. Going to hold tight and see where it takes me.
XVG seems to have a stronger community behind it then a lot of the other sub-penny altcoins. Same goes for XBY.
Lilalaunebaer
Member
So i was going through my backup of my old wallets and found my darkcoin wallet from 3 years ago. So i looked it up and seems they rebranded the coin to dash. Didn´t know it is so valuable now. So i loaded it up and i have 15. Sick.
ShadowKingpin
Member
Did you mine those? How long did it take?
Unknown Soldier
Member
ETH is blowing up, new ATH reached
Stay thirsty, my friends.
Stay thirsty, my friends.
Swear, same here. Mimimimimi
Lilalaunebaer
Member
Yep mined them back then. According to my transactions about a month. Though i was switching between coins regularly so i can´t say definitely. So 1-2 weeks, maybe.
ShadowKingpin
Member
Is it worth doing if I just plan to keep my PC on overnight and while at work? Also, how many different coins can you mine at once?
Bitcoin? No. And will potentially get you fired.
Don't mine coin with hardware/software/internet/electricity that is of your place of business's.
Think he meant mine it at home and leave his computer on WHILE at work, not mine at work
ShadowKingpin
Member
This is what I meant. My apologies, haha.
Also, ad an addition to my questions above, will a normal PC that I am building suffice if I don't really plan on mining Bitcoin, but instead, I will be working on other Altcoins?
For those thinking of building dedicated mining rigs now, consider the trend in crypto is to migrate to less energy-intensive proof methodologies. Proof of work is slowly being eliminated, meaning mining only likely has another 1-2 years of profitability left in it. I would factor that into any rig building decisions.
ShadowKingpin
Member
So, mining will inevitably become a waste?
Earthbound64
Banned
I ended up "diversifying" a bit. So right now I'm sitting at:
1000 XBY
20,000 XVG (Verge)
25,000 MI (Xiamicoin)
And 0.01 ETH and 0.0045 BTC
XVG and MI were both (obviously) very cheap.
So we'll see what they do overnight / into tomorrow, and go from there.
The BTC value of all of those is 0.06164014, which is valued at $157.99, which is basically exactly what I had put in to it ($158).
I'm trying to keep things grounded in what I could convert out to in actual (USD) money so as to not lose sight of things or let things get out of hand too quickly. I mean, I have the money in there with the understanding I could lose it all, it's not that I put in more than I could afford to lose or something, but just trying to keep things in perspective.
EDIT: In the time it took me to write this post, the wallet value went up to 0.06237388, or $159.74USD. So I'm back in the black!
1000 XBY
20,000 XVG (Verge)
25,000 MI (Xiamicoin)
And 0.01 ETH and 0.0045 BTC
XVG and MI were both (obviously) very cheap.
So we'll see what they do overnight / into tomorrow, and go from there.
The BTC value of all of those is 0.06164014, which is valued at $157.99, which is basically exactly what I had put in to it ($158).
I'm trying to keep things grounded in what I could convert out to in actual (USD) money so as to not lose sight of things or let things get out of hand too quickly. I mean, I have the money in there with the understanding I could lose it all, it's not that I put in more than I could afford to lose or something, but just trying to keep things in perspective.
EDIT: In the time it took me to write this post, the wallet value went up to 0.06237388, or $159.74USD. So I'm back in the black!
For those coins still on proof of work after several years it will become unprofitable for most people. For many coins mining won't even exist at all.
ShadowKingpin
Member
I guess a mix of mining and investing personal funds (Here and there) would be the best approach at this moment.
PastorOfMuppets
Banned
Yep. A lot of newer coins are being made specifically with environmental concerns in mind. Also, the cryptoworld does not want a Bitcoin-like situation to arise where a few firms in China and Iceland that have access to cheap electricity are able to pool giant ASIC miners together and dominate the mining scene.
That's another reason by the way that I think Bitcoin will eventually lose it's dominance. It will still be viable but the power is organized in the hands of a few giant Chinese mining consortiums who have no intention of ever giving up their golden goose. Meanwhile, every other coin out there is attempting to devise ways of breaking mitigating miner's power over the coin economy.
My view is that any funds you would put in a dedicated mining rig now would be easily outperformed by investing the same amount of money in something like ETH instead.
Also the worldwide energy consumption dedicated to mining is extremely energy inefficient, not to mention slow. Performance and cost both need to improve a lot if blockchain is going to replace anything. Proof of work was a good idea but is not suitable long term.
ShadowKingpin
Member
That's insane. It makes perfect sense from that explination.
I will just do that then. How does one pay for cryptocurrency? Is it done through programs that are related to mining, or through a website? I apologize for so many questions, but I am hella fascinated by this.
Fluffernutter Pancake
Member
Just getting into this ---- I see a # of trains have left the station already....ETH, XRP (Ripple), DGB (DigiByte) ----- are any of these still worth investing in for short term without risk of major pullback? Contemplating XRP as top pick out of those three.
Any other coins look like strong candidates as the next DGB, XRP etc. as moonshots?
Any other coins look like strong candidates as the next DGB, XRP etc. as moonshots?
Unknown Soldier
Member
This thread isn't really about Bitcoin anymore, so I'm thinking we should have a Cryptocurrency OT at this point. Anybody wanna make one?
Aztechnology
Member
Would be a good idea. I'm more than willing to help me but I don't feel confident enough to make the OT myself though. I'm a total newbie.
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