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  1. #81
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    I'm using ethermine as well, yes.

    My 3080s doing 100-110 MH/s, but drawing 265W.

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    Just got my first payout from ethermine (0.026) today, just got a notificaiton from my wallet that a transfer was made and that was it.

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    RIP Bitcoin run, curious how far it'll fall now and how it'll affect mining. Wonder if we'll be back to 1$/day like last year
    Nolan

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    Quote Originally Posted by pheoxs View Post
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    RIP Bitcoin run, curious how far it'll fall now and how it'll affect mining. Wonder if we'll be back to 1$/day like last year
    For whatever reason my mining has never been more profitable... pay rate has basically doubled

    69D77D81-67A3-4C43-80BF-C5E009971BFD.jpg

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    I've heard nothing but "Bitcoin isn't worth mining" since 2010. At this point, I've had enough FOMO that I might just continue to mine, even if BTC prices drop. I mean, with Nicehash, you're mining ETH, and being paid in BTC, so if BTC prices drop, you just get more BTC for the same amount of mining, and demand is driven by ETH prices.
    ETH up, BTC down = Better for NH miners.
    Quote Originally Posted by heavyfuel View Post
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    That's why I just say I have a 4" dick and lift weights to make up for it.

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    Quote Originally Posted by LilDrunkenSmurf View Post
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    I've heard nothing but "Bitcoin isn't worth mining" since 2010. At this point, I've had enough FOMO that I might just continue to mine, even if BTC prices drop. I mean, with Nicehash, you're mining ETH, and being paid in BTC, so if BTC prices drop, you just get more BTC for the same amount of mining, and demand is driven by ETH prices.
    ETH up, BTC down = Better for NH miners.
    Its impossible to mine BTC with how hard the difficulty is. However, mining in other crypto and exchanging for BTC will always be profitable. Sure you may not break even after power today, but history has shown that holding any BTC is profitable, long term.

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    Right, only ASIC has been profitable since 2015, but I had people dissuading me from doing mining since back in 2010. My point is that I'd rather learn the mistake myself.
    Quote Originally Posted by heavyfuel View Post
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    That's why I just say I have a 4" dick and lift weights to make up for it.

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    Quote Originally Posted by LilDrunkenSmurf View Post
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    I've heard nothing but "Bitcoin isn't worth mining" since 2010. At this point, I've had enough FOMO that I might just continue to mine, even if BTC prices drop. I mean, with Nicehash, you're mining ETH, and being paid in BTC, so if BTC prices drop, you just get more BTC for the same amount of mining, and demand is driven by ETH prices.
    ETH up, BTC down = Better for NH miners.
    +1, I remember trying to setup a Bitcoin mining rig back in 2013-2014 when BTC was worth only 1000$ but passed as didn't like the 1 year ROI.

    finally decided to also invest on crypto currency and since I already have a decent rig, figured might as well put it to good work while not being used most of the time anyway.

    and yeah loving the current crypto correction as it means more hashrate required so we are getting more BTC at the moment which can increase in value in the next 3-5 years.

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    Quote Originally Posted by LilDrunkenSmurf View Post
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    Right, only ASIC has been profitable since 2015, but I had people dissuading me from doing mining since back in 2010. My point is that I'd rather learn the mistake myself.
    I had 3 Antminer S9's three years ago and will confirm that mining was a waste of money and time.

    I watched in 2017 and watching right now people run to buy mining rigs because of the crypto craze.. watch the price correct and the mining difficulty sky rocket because everybody wants to mine. In almost all instances it was better just to use your money to buy the crypto yourself and hold. Then spend the monthly electricity cost on increasing your positions.

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    Quote Originally Posted by taemo View Post
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    finally decided to also invest on crypto currency and since I already have a decent rig, figured might as well put it to good work while not being used most of the time anyway.
    Same reason why I started mining with Nicehash, took forever to get a 30 series card and figured that since my main rig with it is basically idling while I WFH, may as well get it to mine some stuff in the background.

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    Quote Originally Posted by FunWheelDrive View Post
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    I had 3 Antminer S9's three years ago and will confirm that mining was a waste of money and time.

    I watched in 2017 and watching right now people run to buy mining rigs because of the crypto craze.. watch the price correct and the mining difficulty sky rocket because everybody wants to mine. In almost all instances it was better just to use your money to buy the crypto yourself and hold. Then spend the monthly electricity cost on increasing your positions.
    I mean, I've mined myself into $500 worth of crypto so far, and have only spend an extra $30 on electricity, so it's working to my benefit so far. Even with a correction, I'm fine with it.
    Quote Originally Posted by heavyfuel View Post
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    That's why I just say I have a 4" dick and lift weights to make up for it.

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    Quote Originally Posted by ercchry View Post
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    For whatever reason my mining has never been more profitable... pay rate has basically doubled

    69D77D81-67A3-4C43-80BF-C5E009971BFD.jpg
    Right now transaction volume is way up as people are either selling or buying the dip so a lot more transaction fees to be had but it'll settle down in a couple days and drop probably
    Nolan

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    The important thing with using gaming gpu’s to mine is... you can turn mining on and off at will, and there is still a market for your cards if you want to give up on it. Right now we’re at like 400%+ ROI on cards, and the downside is limited... especially if you’re already buying cards on the used market (well... the ones that are under MSRP that is haha)... 3 months at this level to pay off the cards, so I don’t think in 3 months we’re going to see a huge flood of cards hit the market, so your downside protection is basically at a 0% loss, hell... you might still be able to sell your cards for more in 3 months especially with newer cards having mining restrictions on them. Right now, the math works. That’s all that matters, 400% returns usually come with MUCH higher risk than an extra couple bucks on the utility bill...

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    Quote Originally Posted by ercchry View Post
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    The important thing with using gaming gpu’s to mine is... you can turn mining on and off at will, and there is still a market for your cards if you want to give up on it. Right now we’re at like 400%+ ROI on cards, and the downside is limited... especially if you’re already buying cards on the used market (well... the ones that are under MSRP that is haha)... 3 months at this level to pay off the cards, so I don’t think in 3 months we’re going to see a huge flood of cards hit the market, so your downside protection is basically at a 0% loss, hell... you might still be able to sell your cards for more in 3 months especially with newer cards having mining restrictions on them. Right now, the math works. That’s all that matters, 400% returns usually come with MUCH higher risk than an extra couple bucks on the utility bill...
    Disagree with that statement, back in 2018 there was a massive lack of graphics cards because of miners (at the time 1080Ti's were the latest greatest) and when all the crypto's crashed and mining wasn't profitable Kijiji and Ebay was absolutely littered with 1080Ti's and crypto mining rigs.

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    Quote Originally Posted by FunWheelDrive View Post
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    Disagree with that statement, back in 2018 there was a massive lack of graphics cards because of miners (at the time 1080Ti's were the latest greatest) and when all the crypto's crashed and mining wasn't profitable Kijiji and Ebay was absolutely littered with 1080Ti's and crypto mining rigs.
    ... 3 months later? I’m not saying the day won’t come... I’m saying from an investment perspective it doesn’t matter once the initial cost has been recovered. 400% return... that usually involves a risk so grand, you will be at 0% return... to say your cards will ever be at 0% is laughable... no one is saying you have to dump your cards ASAP either... hell, I’d take all the 1080ti’s I could right now for $600 a piece!

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    Quote Originally Posted by ercchry View Post
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    ... 3 months later? I’m not saying the day won’t come... I’m saying from an investment perspective it doesn’t matter once the initial cost has been recovered. 400% return... that usually involves a risk so grand, you will be at 0% return... to say your cards will ever be at 0% is laughable... no one is saying you have to dump your cards ASAP either... hell, I’d take all the 1080ti’s I could right now for $600 a piece!
    Mining profitability can drastically change in a hurry. It's actually a sign we are close to the top of a bull move, ATH prices combined with a huge influx in volume makes mining look incredibly profitable. Trading volume effects mining profitability just as much as the price. Unfortunately, when the price tanks normally the volume drops. (after capitulation) The coins aren't worth anything, and there is no transaction volume to support the now HUGE increase in mining power. Result? Mining difficulty sky rockets. Back when I mined in 2018 the block rewards which were set at 12.5 BTC, but the block rewards were trading over 20BTC per block because of the massive volume. That drastically changed in three months.

    Then you will see people who have 10+ GPU flog off their cards which now don't make any money. This cycle has happened before, and will happen again.
    Last edited by FunWheelDrive; 02-23-2021 at 11:52 AM.

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    I dunno... the market keeps evolving, in 2018 tsla and aapl were not market makers for btc

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    is it weird that all this arguing is making me want to start mining? it's making me feel weird.
    Quote Originally Posted by schurchill39 View Post
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    Oh god, don't get him started.

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    Quote Originally Posted by FunWheelDrive View Post
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    Mining profitability can drastically change in a hurry. It's actually a sign we are close to the top of a bull move, ATH prices combined with a huge influx in volume makes mining look incredibly profitable. Trading volume effects mining profitability just as much as the price. Unfortunately, when the price tanks normally the volume drops. (after capitulation) The coins aren't worth anything, and there is no transaction volume to support the now HUGE increase in mining power. Result? Mining difficulty sky rockets. Back when I mined in 2018 the block rewards which were set at 12.5 BTC, but the block rewards were trading over 20BTC per block because of the massive volume. That drastically changed in three months.

    Then you will see people who have 10+ GPU flog off their cards which now don't make any money. This cycle has happened before, and will happen again.
    not disagreeing with this, but out of curiosity what would have happened if during the 2018 crash you just kept mining and held the coins?
    how many coins would you have at this point?

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    BUY THE DIP!!!

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