(Topic ID: 200502)

Somebody explain Bitcoin to me

By Pinballlew

6 years ago


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  • Latest reply 2 years ago by toyotaboy
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    #914 6 years ago

    Look what I got for Christmas.

    6xgtx1070_miner (resized).jpg6xgtx1070_miner (resized).jpg

    #925 6 years ago
    Quoted from Spyderturbo007:

    You can't post a picture like that and not tell us what you're mining and give us the hash rate.

    ETH since Dec 25th eve. Played with OC/UC settings and it is stable now at about 190.5 hash. Showing 677 watts with Kill A Watt. Mining nanopool. Avg hashrate there shows 198.0 Mh/s for last 6 hours. PM for more detail.

    new_display_cards (resized).jpgnew_display_cards (resized).jpg

    #941 6 years ago
    Quoted from acebathound:

    I'd like to see the breakdown on the crypto you're mining for $65/day.. if you don't mind Just interested in knowing how that breaks down with hash rate, wattage of cards, electricity costs. I tried plugging in some numbers I found for Vega hash rate, wattage ratings, etc with assumed $0.13 kWh electricity costs. Looked like about 380 MH/s hash rate total. 1500 watt total power?
    https://www.cryptocompare.com/mining/calculator/btc?HashingPower=380&HashingUnit=MH%2Fs&PowerConsumption=1500&CostPerkWh=0.13
    Bitcoin you'd lose -$4.68/day or -$140.38 in a month
    Eth $29.33 profit per day or $871.39 per month
    The mining end of things seems volatile as well. Difficulty of mining increases over time and you're having to cycle cards months later to "keep up" with newer cards or see the hash rate suffer. Markets changing and causing one crypto that was worth mining to no longer be the most profitable.

    The risk is not for everybody. And finding desirable GPUs to buy is like finding rare pinball machines.

    #942 6 years ago
    Quoted from pezpunk:

    yeah that $65 is not counting electricity. so roughly $1900 or so per month gross, but it's highly variable. i'll probably come in a little below that this month, and over time i expect revenue to decrease as mining difficulty rises.
    i undervolt the cards -- at stock voltages, they would use a lot more power. all told, i'm under 2000 watts for everything mining-related (i'm using kill-a-watt meters to measure). at 9 cents per kwh, it works out to costing me roughly $120 per month in electricity.
    because of fluctuations in price and difficulty that happened to work out in my favor, the rig actually paid for itself in a little over a month. so at this point it's pure profit. and then when i do decide to pack it in (probably in the spring, but who knows), i can sell the video cards -- right now used Vega cards are going for $600+ apiece on ebay (that probably wont last, but they'll still be worth something in a few months). i will keep everything else (the frame, motherboard, processor, hard drive, fans, PSUs), and then maybe in the fall invest in another batch of the latest video card hardware, and plug them into the same rig ... depending on where the market is and so on.

    yeah good question, i am honestly not sure.

    This is taxable income so business for sure here.

    #943 6 years ago
    Quoted from acebathound:

    So plugging that into a calculator you maybe make $13 profit per day with that setup at current rates or $400 per month at 0.13KW/h cost? And that's with 6x graphics cards going at it 24/7? Just trying to get an idea of things Must take 6mo or so to pay for itself.

    0.071KW/h here. And no cooling needed where I live. It was -5 deg F yesterday. The excess heat is a welcome addition.

    #944 6 years ago
    Quoted from acebathound:

    Except.. not to say this happens to a lot of people, but the thought of these rigs running 24/7.. and while you sleep, with the possibility a gpu or power supply catches fire is kind of unsettling. Google "gpu mining fire" and there's quite a few incidents..both in large mining operations and at-home setups.
    Here's one..
    https://bitcointalk.org/index.php?topic=1776853.40
    I'm just interested in learning about it all. Not something I'd feel comfortable running without a few smoke alarms in the room -- and yeesh.. leaving the house with it all running. Not for me

    Do you leave your computer running 24/7 like most people or shut it down when not in use?

    2 weeks later
    #1278 6 years ago

    2 new available. Veddha 6 GPU mining racks with 5 fans. Plus minimal shipping from IL. Some assembly required. $185 each. These are the same rack as shown in Pezpunks post #1231.

    I ordered them from Ebay in china last November and waited 6 weeks for delivery. While waiting, I built two of my own from oak flooring, put them into service and then decided to standardize on 8 GPUs per rack. All my future rigs are using the Veddha 8 GPU rack.

    PM if interested. Paypal FnF payments.

    Tom

    6 months later
    #1633 5 years ago

    It's a buyer's market!

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