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  1. #181
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    Quote Originally Posted by pheoxs View Post
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    Decided I'd rather have cash than mining so I listed my two 3070s on kijiji. Both for 2,250$ and had over a dozen replies within 2 hours and tentatively sold for first thing tomorrow. Pretty crazy.

    As much fun as mining is when I look at the profitability it'd take me half a year to recoup what I could sell them for. With the hash rate constantly rising I just don't see that happening as Eth would need to spike way higher than what it already is and I think the bubble is about run out.

    The numbers looked a lot better when I compare MSRP vs mining but the currently inflated prices are nuts. I could've probably got a lot more for the cards too based on the messages. People were ready to etransfer me deposits instantly just to hold them.
    nothing wrong with that, congrats on the gain. at least you are not one of those scalping for over 50-70% retail.

    I wouldnt be buying anything for mining right now either, if I can get hold of another 3060ti or 3070 then I would resell it as well.

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    So this was the final result of kijiji replies. Someone picked em up and no fuss gave me 2250$ for two. If any of you decide to sell your cards I'd definitely do 1200$ or more.


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    even when I posted my 1060 6GB, I had like 10 inquiries within an hour.

    just wait for the dip lol


    for those using Phoenix miner, stop using it and/or uninstall it from NiceHash for the time being.
    https://www.reddit.com/r/NiceHash/co...r_immediately/

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    Just came in here to post about phoenix.
    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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    Reading the reddit comments is interesting, many people seem to think its Nicehash got a compromised copy of Phoenix and pushed it to people via auto updates. Whats everyone doing? I don't really feel like reformatting but also don't wanna take a risk

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    Quote Originally Posted by pheoxs View Post
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    Reading the reddit comments is interesting, many people seem to think its Nicehash got a compromised copy of Phoenix and pushed it to people via auto updates. Whats everyone doing? I don't really feel like reformatting but also don't wanna take a risk
    I only had 15.6 installed (15.8 is what most people were running before the 15.9 compromise), and I haven't run it in ages thanks to NHQM/T-rex ethermining, so I just removed phoenix from NH and moved on.
    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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  7. #187
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    Quote Originally Posted by LilDrunkenSmurf View Post
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    I only had 15.6 installed (15.8 is what most people were running before the 15.9 compromise), and I haven't run it in ages thanks to NHQM/T-rex ethermining, so I just removed phoenix from NH and moved on.
    I was on 15.8, but it was still waiting to update to 15.9, did the same. Deleted and that’s that. Was a fresh install of windows, no keys stored or wallets created on this system

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    Fortunately I moved to NHQM on my main rig about 3-4 weeks ago and removed NH.

    my mining rig has NH installed but does not have a wallet running or accessed any sensitive accounts from this computer, however it started using PhoenixMiner since I installed a 5700XT couple of weeks ago.
    I have uninstalled the plugin now which updated to 15.9, 15.9 is empty and was pushed by NH so that if the miner is compromised, attacker can't update it.

    reading more into it, there's currently no evidence that PhoenixMiner is compromised, so far what we know is that the creator of PhoenixMiner has been MIA for a while now (couple of months?) and MEGA has removed all mining download links from their website just recently.
    speculation is that creator of PhoenixMiner has exited the scene and maybe has an exit strategy in place in the miner which could be any versions, doesn't necessarily mean just the latest one.

    I don't think we have to worry about anything at this point, but for peace of mind, first thing you might want to do is update your passwords and/or ensure 2FA is enabled.

  9. #189
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    anyone interested on participating?
    https://mobile.twitter.com/redpandam...25214674796550

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    Are any of you black-lunged fellas making a good income or are the profits more along the lines of weekly beer money? What type of setup would it take to actually start seeing 5 figures/year?

    I may be missing a crucial detail but looking at that top 10 crypto mining cards for ETH... looks like 970s and 980s are on there, making $130-180 a month. Why aren't these cards in higher demand? One glance at kijiji and it seems like you could break even after a couple months.
    Last edited by tcon; 03-08-2021 at 02:35 AM.

  11. #191
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    970s and 980s are not making that much a month. Not in the real world.

    To break the 5 figure yearly mark, you’d need 9 or so 3060ti cards then the set up to get it going. It’s really not worth it to dive in right now as the difficulty is higher and profitability is down because of it. We are talking an ROI of never.

    Not to say it’s not still profitable, just not in a significant way. You would have to have been in the game a year ago and paid retail on all of your equipment to have had made some decent money.
    Last edited by spike98; 03-08-2021 at 12:05 PM.

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    most of us that have posted here are just mining for beer money.

    if you want 5 figures/year, right now you will need to spend around half of desired 5 figures income.

    for example 5 x 3060Ti at average retail price will be about 3500$ + Tax.
    at current rate you would be earning over 1000$/month but the expectation is Ethereum earning will drop by 30-40% in July.


    970 will earn you 0.42 CAD/day and 980 will earn 0.27 CAD/day, this is from NiceHash profitability calculator and I don't know why 970 earns more than the 980 lol.

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    Quote Originally Posted by taemo View Post
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    anyone interested on participating?
    https://mobile.twitter.com/redpandam...25214674796550
    What's the story behind this?
    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.
    Quote Originally Posted by 89coupe View Post
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    My car sounds like shit.

  14. #194
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    Basically to win at mining you needed to scoop up all the used cards people dumped, like the 3-400$ 2080's people panic sold when the 3000 series was announced or all the 5700/5800's too.

    Getting into a mining rig now will be a hard battle because it's so competitive and the hash rate keeps increasing quickly so every month your profits drop.

    Assuming no hash rate increase it would've taken me 6 months to make back what I sold my 3070s for but if the hash keeps going up 25% a month (which it is) then I actually never make back my initial investment unless the price of crypto skyrockets even further

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    I'm always interested in passive income, so I've been learning about Crypto mining in the past week or so. Looking on Kijiji, there are a few people selling then mining rigs. I was quite confused why, since I assumed these ppl were making money at it. But, I guess if they can make more by jacking the price up of their rig vs what they paid, they may be ahead in the short term.

    I'm a noob with PC hardware + software, but am considering getting into this in a very small way more as something to learn how-to-do, rather then get rich.

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    Quote Originally Posted by LilDrunkenSmurf View Post
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    What's the story behind this?
    bunch of popular crypto miner youtubers organizing as a sign of protest for EIP-1559
    https://www.reddit.com/r/EtherMining...mine_april_1st


    Quote Originally Posted by Ekliptix View Post
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    I'm always interested in passive income, so I've been learning about Crypto mining in the past week or so. Looking on Kijiji, there are a few people selling then mining rigs. I was quite confused why, since I assumed these ppl were making money at it. But, I guess if they can make more by jacking the price up of their rig vs what they paid, they may be ahead in the short term.

    I'm a noob with PC hardware + software, but am considering getting into this in a very small way more as something to learn how-to-do, rather then get rich.
    go to https://www.nicehash.com/profitability-calculator on your windows computer, it should detect your hardware and give you an estimate on how much you would be earning per day.

    some of those resllers seems to have deep connection for hardware, others are selling hardware as they upgrade.
    but definitely right now is a good way to resell while bubble hasnt bursted yet.

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    Quote Originally Posted by Ekliptix View Post
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    I'm always interested in passive income, so I've been learning about Crypto mining in the past week or so. Looking on Kijiji, there are a few people selling then mining rigs. I was quite confused why, since I assumed these ppl were making money at it. But, I guess if they can make more by jacking the price up of their rig vs what they paid, they may be ahead in the short term.

    I'm a noob with PC hardware + software, but am considering getting into this in a very small way more as something to learn how-to-do, rather then get rich.
    Take a look at this link/chart.

    https://www.coinwarz.com/mining/ethe...fficulty-chart

    Basically there is a finite amount of new coins minted every day regardless of how many people are mining crypto which means as more GPUs come online you are splitting the pie more ways so you make less and less each month. There is also transaction fees that the miners make but unless the price of crypto or the activity on the network rises this too is being split more and more ways each month.

    A lot of the time profitability calculators look great today but when you constantly make less and less each month will you actually make your money back?

    For example a 3060ti:
    7CAD/day currently is 210$ a month for a card you could nab new for ~600$. Sounds great right?

    Well realistically though the hash rate is rising 15-20% per month.

    So your actual revenue looks like this: (10% decay every 2 weeks)
    Week 1/2- 98$
    Week 3/4 - 88$
    Week 5/6 - 79$
    Week 7/8 - 71$
    Week 9/10 - 64$
    Week 11/12 - 58$
    Week 13/14 - 52$
    Week 15/16 - 47$

    So now you are four months in and you've made a total of 577$ but you spent 600$ on the GPU after 4 months. You are getting close to profit but thats a quarter of the year gone by. Also electricity cost is fixed so if you are using 50 cents a day that hurts a lot more down the road then right now.

    If you already have the card in your computer then its great because its free money but to buy graphics cards solely to mine with will be a hard battle to make money. The raw price of Eth needs to rise a lot in order for it to be worth it. For much of 2019 people mined at a loss or break even, it was only late 2020 that things became the insanely profitable market we are in now but it's already falling quickly.

    If Eth rises in 50% value then you are doing great but if it falls 50% in value then you are losing a lot. Plus the value of your GPU used is pegged to the mining game as well, as soon as the revenue from mining falls you'll see a flood of used cards which drives down resale a lot.
    Last edited by pheoxs; 03-08-2021 at 12:56 PM.

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    ^^^ I mentioned those points a couple weeks back in this thread. We are starting to see the profitability already turn like it did in 2018.

    Just wait, it will get to the point where the dollar amount of electricity feeding those GPU will earn less then just buying the altcoins directly. Never mind paying off equipment, you won't even pay off the electricity costs.

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    Yeah. I wouldn't be mining if I didn't specifically buy my card for gaming. The mining is just a bonus, otherwise the machine is idle. Once costs are higher than profits, back to sleep during the night. I wouldn't invest in any kind of GPU mining rig at this point. If you want to get into mining, ASIC or bust.
    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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    Anyone with a 1660 Super getting "CUDA out of memory" problems when trying to mine with NH?

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