Official Mining Thread

[curio]

Yeah same here; I might just try to sell the cards and say **** it - just take a loss on the minor equipment

****, really don't know what move to make now

[KAC]

Wait till end of today. BTC already at 7K. For me 7K I get my money in 1 year with a chance of upside. So since my money was lying around anyways, it is ok to continue with this. At anything less it is just nuisance.

[Riptide]

Sell it. What are you waiting for?

It's going under 7 if not today then tomorrow or sometime further down the road. I hate sounding like a broken record. Look at the market history. There have been huge crashes before and it stayed down for quite a while before going up again.

Will it ever get high up like it was in December? Sure probably. But it won't stay there for months at a time.

This was never a safe investment. Never has been. Volatility is nothing new.

[curio]

For about the dozenth time now, if I keep with this I'm not in it for the short run or the quick gain. Volatility doesn't scare me.

[Riptide]

Yah that was more aimed at KAC.

[nycdarkness]

Can a Z97 chipset run a 7th gen core processor?

Either way I have 3 PSU's already so I don't mind running 3 mobo's if that's what it takes

No but used stuff is cheaper than buying a new setup is what i meant.

[KAC]

Sell it. What are you waiting for?

It's going under 7 if not today then tomorrow or sometime further down the road. I hate sounding like a broken record. Look at the market history. There have been huge crashes before and it stayed down for quite a while before going up again.

Will it ever get high up like it was in December? Sure probably. But it won't stay there for months at a time.

This was never a safe investment. Never has been. Volatility is nothing new.

My cards aren't even here yet. Won't be till Saturday. They are already live on website to sell.

As I said I will make up my mind after today till Friday on what I want to do.

EVGAs I will refuse shipment tomorrow as refund has already been issued by Amazon. .

[logical]

Funny to see where the thread has gone. I have been following for awhile. Everyone in and now everyone jumping back out. Will check back in a bit to see if prices rise and people wished they would have stayed in.

[Riptide]

Not everyone. 😉

[Hapatingjaky]

https://www.reuters.com/article/us-g...-idUSKBN1FP2FJ

[Riptide]

I would prefer it was left unregulated and the "wild west" however one thing that may be holding it back and hurting confidence is the lack of rules and regulation.

Could go either way really and may end up helping rather than hurting.

[nycdarkness]

Peeps who paid attention to today's senate hearing. Based on what I heard, I think the crash has somewhat ended for now.

[OverclockN']

Peeps who paid attention to today's senate hearing. Based on what I heard, I think the crash has somewhat ended for now.

What were the cliff notes? What makes you think it's over?

[nycdarkness]

What were the cliff notes? What makes you think it's over?

So you can take the call of increased regulatory oversight as a good or bad thing. However, at the same time no on in the conversation was against crypto in general. Main line

“We owe it to this new generation, to respect their interest in this new technology with a thoughtful regulatory approach,

CFTC chairman.

[KAC]

Seems things are going up.

[Riptide]

Thanks Amazon. Looks like the fans I ordered are 53CFM not 74CFM. And naturally didn't find out until now.

I dunno about them sometimes been kinda disappointed lately.

[Dave]

Seems things are going up.

We shall see, I wouldn't base anything on 1 day though

[curio]

I wouldn't base things on three months

[Riptide]

What about three minutes?

[KAC]

If it stays about 7K till Friday/Saturday, I am mining with 7 cards. That is it.

[KAC]

Wow my daily earn rate has gone to 0.00057.
Thank you all the people who chickened out.

[KAC]

Wow, just checked my local website and tons of Antminer S9s available as well.

I don't even know why I bothered with building this myself. There are full rigs available for sale at reasonable prices.

This is like price of 1.5 graphics card. https://dubai.dubizzle.com/classifie...MQ%3D%3D&pos=5

Wtf.

[KAC]

Rejected shipment of 2 EVGA SC2 Hybrids.

[KAC]

Now up to 0.0006 BTC per day estimate on NiceHash. Shouldn't have sent the cards back today.

Making about 4.95 per day is what this idiot is saying!

[Riptide]

lol dude you'll feel fine about it when BTC gets to 5K or under which it probably will sooner or later.

[KAC]

lol dude you'll feel fine about it when BTC gets to 5K or under which it probably will sooner or later.

You never know with these things. I think having 7 cards is enough for now.

[Dave]

It's up to 8500 now lol

[KAC]

I honestly think it is worth the trouble. My only contention is that I sent 2 cards back. If I can pick up an Antminer S9 for about similar price of 2 cards, I would rather have that running in my maid's room that is free right now.

[Riptide]

I like my SC2 hybrid other than the fact I'm getting some kind of annoying intermittent noise out of the VRM fan. Kind of a loud tick that sometimes comes and goes. At first I thought it was the pump. But nope narrowed it down to the fan. If that keeps up I may have to pull the card and see if I can tweak the shroud slightly to fix it otherwise it's going to be an exchange.

Looked around at nowinstock this morning and I can find a GTX 1070 and GTX 1060. Prices are still stupid high though even direct from newegg. $100+ over MSRP.

After talking to two CPA I am confident that the what I've read so far about the tax situation is correct.
1) Each payout from mining has a USD value attached. They want you to keep track of every one and report the sum at the end of the year as gross income.
2) Every single trade has a capital gain or loss. No like kind exchanges any more.
3) You are better off filing schedule c and writing off your electricity and your equipment expense. Technically you can write off part of the internet bill and part of the room square footage you devote to mining equipment. I don't intend to do that - risky for an audit IMO. You will owe self employment tax.

If you mine and hold alts like I've been doing, with NO trades, it will be the most simple way to go. The more trades you make and the more often you cash out the more complex the return gets.

[curio]

Well I've decided to stick with this. I'm returning my dead Asus B250 and am going with an ASUS Prime Z270-A this time around, hopefully it's much more reliable

Going to use an M.2 to PCI-E adapter for the eighth card; as well as an 18-gauge triple PSU ATX PSU adapter cable and stick with 3 power supplies

[nycdarkness]

Wow, just checked my local website and tons of Antminer S9s available as well.

I don't even know why I bothered with building this myself. There are full rigs available for sale at reasonable prices.

This is like price of 1.5 graphics card. https://dubai.dubizzle.com/classifie...MQ%3D%3D&pos=5

Wtf.

Antminers are extremely power hungry and loud af

[KAC]

Let me know how it goes. I am going to remain with 6 cards setup.

[KAC]

So been pretty stable at 8K or above for 2 days. At that rate mining is fairly decent.

[Riptide]

Couple titans I'll let go for what I paid plus ship and paypal fees PM me if interested.

Looking to scale back a bit. Moving in a couple months and may not be able to keep the miner rig in a basement so need to get something quieter even if it hashes less.

[Exposed]

And so the 2nd hand flood begins?

[nycdarkness]

And so the 2nd hand flood begins?

Doesn't look like it. I've been selling a few and trust me I am selling them easy at jacked up prices.

[Riptide]

Lol yah nowinstock sells out constantly at anything even close to msrp.

[KAC]

8900 nice.

[KAC]

My entry into this mining thing.







Will do cable management later.

[Riptide]

Cables don't look that bad to me you should see my setup. Soon to be two psu and 4 GPU. Cables all over the place on a 6 gpu frame so not a lot of space to keep things from being bunched up.