Official Mining Thread

[Leprechaun]

I'm the only one negative on ethereum network. Fees are ridiculous but that's okay for me when mining. I think Cardano might fix all of the ethereum network problems but it will take time.

It's funny because when it comes to money I come thru. Found a dealer with direct GPU buys from China. Have more cards coming. Yet if this wasn't about money and was about bettering myself in some way I wouldn't find a way through and would be lazy.

I'm just hoping eth price goes up in the short term to make up for PoS

[KAC]

I think 2 cards mining is enough for me. The bill increase is bearable but the weekends have really gone to **** in terms of earn rates. Hopefully this improves over time.

[Leprechaun]

I think 2 cards mining is enough for me. The bill increase is bearable but the weekends have really gone to **** in terms of earn rates. Hopefully this improves over time.

Ya profits are down, but not having to pay for electricity makes it ok. Worst case resell video cards

[Riptide]

When eth mining is killed off either in July or later with POS then I'm keeping my stuff together and either mining alts or just idling and waiting until some other opportunity presents. Worst case I can shelve most of the GPUs and run one 6800xt on there. Would basically have a second gaming computer ready to go if I have company over.

[Leprechaun]

From what I understand EIP 1559 Is coming in July. A reduction in fees will come with it. This will reduce mining profitability ~40%. It's estimated the PoW to PoS shift will take us into ~jan 2022. That's how I understand it.

In July where will all the hash rate move to? The other mineable coins can't handle all the hash power. Also, new ASICs miners from China are coming by June. They have the power of ~20 3080s with 1000w less power usage.

[Higgy10]

Hmmm I have a guy who can get me 3080s for $900 cad... Directly from distributor..wondering if it's worth it still. Proof of Stake won't be actually live until Jan 2022 at the earliest I've heard even after it's pushed through, so profitability should be sweet until early next year

hook a gamer up with one!

[Riptide]

In July where will all the hash rate move to? The other mineable coins can't handle all the hash power. Also, new ASICs miners from China are coming by June. They have the power of ~20 3080s with 1000w less power usage.

We've heard all this before. Maybe this will be it for gpu mining for real this time? Who knows. Initially it will probably take a nose dive. After some time passes past that point we'll know the real impact.

[KAC]

Profitability is down already. Was pushing 17-18 boners each day (about 0.3mBTC) but now down to about 0.24mBTC.

[Leprechaun]

Profits were down, but there's lots of activity on the Ethereum network since Sunday night so profits are back up.

Hut 8 mining corp in Alberta, just bought 30 million $$ worth of mining gpus. This to me says they did some research and they feel that gpu mining should be fine for at least another yr. There's other stuff to mine besides eth, just that it's been the most profitable for a long time. I just worry about all the extra hashrate that's added every day.

Maybe the regular Joe's with 1 gpu stop mining, but these mining farms with free/cheap electricity will keep going.

[Leprechaun]

For some of the mining PC's I'm forced to use win10. How do you tell windows update to F off and not restart PC? I can't beat a 3 week uptime because it resets after around that many days. I can't postpone it any longer?

[KAC]

Set PC to not check for updates. Or run a windows that is not activated.

[Riptide]

It's a gold rush so more miners are bringing pans to this creek every day. Nothing you can do about it but hope the value of ethereum or whatever you're mining goes up.

It seems salty PC gamers are more inclined this time around to mine with their equipment since they paid an arm and a leg for it in many cases. GPUs are generally in short supply though and it will be months before that situation clears up if at all this year. So, not everyone can get a pan on the creek which is helping to stave off some of the extra hash rate that might be applied otherwise.

You'd have to be crazy (ahem) to pay the prices we're at right now for GPUs and build a rig.

My machine is on wireless so I just tell it I'm on a metered connection. Works to hold off updates until I decide to reboot it.

[Leprechaun]

Hmmm metered connection trick, gonna try that.

[KAC]

So a report after almost 3 weeks of mining. I do on and off mining plus was without a card for a few days in between. Started on 7th of February and in the short month I managed to score a little over $200 (at $45K rate). I also checked my electricity bill and the increase was barely noticeable (maybe $20) but that includes A/C usage that would’ve happened regardless. So overall, pretty satisfied with this. February is just an indication and if things continue as they were (which they won’t) then it seems $350-400 should be doable per month. My target is to really try and make at least $2700 boners with this ordeal. This would imply that I have paid off all incremental costs of purchasing hardware this year ($1430 for kid’s computer, $770 for my 3090, and $500 for my 5900X).

That is the only motivation to get back in this shite.

March was a great month. I went from $200 wallet balance to $755 wallet balance. I was expecting more in the incremental $380-400 mark, but with BTC climbing it helped increase the earning rate and also price effect. This is with me mining non stop except when gaming. Another major thing I did was to play on my 3070 PC and not on my 3090 PC. That meant bulk of the earning rate was non stop.

Very happy with the outcome. Next milestone is to hit about $1300 by end of April. If that happens my 3090 and 5900X PC incremental cost will be fully paid up.

[Leprechaun]

Nicely done! You'll have one card paid off for soon. With BTC and ETH prices nearing record highs, there's plenty of transactions once again. High activity = lots of $$ mining

[curio]

For comparison this last month I pulled in $175 from the 1st to the 1st with a 1080 & 1080 Ti mostly full time

[Leprechaun]

Looks like another killer week profit wise.
If anyone needs investment help I'm #1. I can invest in anything and make the stock plummet. This leaves it open for you guys to buy cheap.

I can make any stock crash just by investing in it. It's a sad skill I seem to possess

[curio]

[KAC]

Well this time it seems earning rate on weekend was also decent. Good show. Almost 800 now.

[Leprechaun]

The closer July comes the less and less EIP 1559 scares me.
Looking at all the other coins that are GPU mineable, they come pretty close to ETH. They are still profitable. Who knows what coins come up, and if others rocket in value, they would be even more profitable. Also, if Ethereum doubles in price, but halves in mining rewards/fees, we'd be at the same point. Just wait and see.

Safe to say I've gone from gamer to gamer/miner, and it has changed my life drastically for the better. This is also the biggest understatement I have ever made.

[KAC]

I just need to make 2700 by July. Then I don’t care.

[Riptide]

I can make any stock crash just by investing in it. It's a sad skill I seem to possess

I waited years to finally buy in to AMD and when I did the very next week it dumped $15/share and still hasn't recovered. I figured it would be a safe bet considering the current market demand for their products.

[Leprechaun]

I waited years to finally buy in to AMD and when I did the very next week it dumped $15/share and still hasn't recovered. I figured it would be a safe bet considering the current market demand for their products.

You possess my skills. Also, when I win I cash out my wins too early.

Has anyone tried hotspot mining? Helium (HNT)?
Any luck?. Seems to depend where you are but some have made a killing apparently. HNT has increased in value drastically

[Riptide]

Since I started back up in middle of February I've managed to stack over 4 XMR. I wasn't running at full strength and only within the last 8-10 days got the fifth and final GPU hashing on the rig. I started with a GTX 1070 then sold it and started adding AMD cards. It's an all AMD setup with 5600/5700/6800 series cards on team red miner.

Wish I had never parted out my old rig however those vega 64s were huge power hogs and heat generators compared to the newer gen AMD stuff. I could've done better if I'd gone for Nvidia (more MH for less power) but I have an allergic reaction to that company any more so stuck with team red.

Roughly 265MH at 780w. Still have a little tuning left to do at this point to squeeze a bit more hash out of it and save a few watts on power.

[KAC]

I think you would be doing similar hash rates with nV cards as what you achieved with AMD.

[Leprechaun]

Doubled my $$ on a few coins..the others trading sideways for months.

[Leprechaun]

Had one rig with a 6 week uptime finally go down. Of course on the weekend because I'm not there.

Also, nobody told me ADA was a stablecoin
Every morning I wake up to the same price. Any time now

[KAC]

63K and rising. Coinbase IPO.

[Leprechaun]

Rumour is Walmart threw down $1 billion into Bitcoin. Won't know til May 19th (forgot the date) during their quarterly report.

Edit:.
https://investorplace.com/2021/04/wa...he-rumors/amp/

My altcoins are pumping hard. My video card supply tap has run dry though

[Riptide]

Getting a card is more difficult now than it has ever been. Amazon is impossible without using automation and even then very difficult due to competition from hundreds if not thousands of other bots being used against each product page.

Newegg used to be a possibility as recently as 5-6 weeks ago but it has now become completely dominated by automation to the point you can click an alert in less than 5 seconds and it's already out of stock and not even able to add to cart.

I'm guessing the scalpers on ebay selling for 2x or more msrp are using paid for automation to get cards. Possibly a few just got extremely lucky with a manual buy on an alert, but I'm not sure how that is possible any more.

Definitely dark times for PC hobbyists who just want a card to play games with.

[Leprechaun]

Even the distributor I know can't get cards. They have many on order but ETA is simply unknown.

[Riptide]

Even the distributor I know can't get cards. They have many on order but ETA is simply unknown.

The blame is now being put entirely on mining.
https://www.reddit.com/r/nvidia/comm...ust_10_of_rtx/

If that's happening, then most likely it's in Asia. ShopBLT for example has had back orders going for months on many different models here in the US. I cancelled a few weeks back but they kept pushing their ETA up and delaying.

Were it true that mining is now suddenly the cause of the problem whereas before we know that it was not, then eventually supply will stabilize due to ramped up production or alternately a major market correction will have the same effect. Just going to take more time to work itself out.

The situation is exacerbated by miners however the idea they are wholly responsible or nearly so is very suspect. Have you noticed CPUs are still difficult to obtain? This morning, no 5000 series in stock at newegg. I can't just go buy one. People aren't buying up these by the assload to mine with. Recently we've heard vehicle manufacturers complaining about shortages as well.

Clearly, the situation is larger than just miners though I know PC gamers absolutely hate them so it can be difficult to see past that.

[Leprechaun]

I'm sure a bulk of the cards are being used for mining.. I'm more sure they're being used by miners in China mostly.. Seems they don't even leave on a boat to Europe, NA, etc. They're just bought up straight from the fab.

If I knew it was going to be this bad I literally had a 2 week window in January where there were a hundred cards available at a time that I could of bought.

[Leprechaun]

Seriously guys, especially you guys in USA or big Canadian cities, why are you not using a hotspot miner??? My cousin is banking thousand$$ of $USD/mth doing jack!
Mine's coming in but I won't make much since there's not many other miners around me.

https://explorer.helium.com/hotspots

If you live in Chicago, you are in the #1 city in the world at the moment. Make $10k+ /mth while using $1 electricity/mth and doing jack squat (cue Chris Farley video)

I can't be the only one on Rage partaking in this crypto/mining fun? This was seriously life changing. I've earned a 3rd income for the entire year already and it's only the 4th month of the year. Why didn't you guys cuss at me 4 years ago to try this?

[KAC]

Nub guide?
Also the earn rate has fallen off a cliff.
Used to make about 0.00005 BTC / 4h but now down to 0.00004 BTC typically. Which sucks ass.

[Leprechaun]

Things were slow until last few hours. Looks like a regular $900 week.

Today looks like the most profitable day since the few weeks in Feb.

I don't know much about the helium hotspot miners except what I read and heard. I have one on the way in June.

[Leprechaun]

Well just got my last batch of cards. Apparently from here on in you can't buy a 30 series card unless it's in a prebuilt.

[KAC]

Burn the heretic!

And send me a card will ya!

[Leprechaun]

Burn the heretic!

And send me a card will ya!

You didn't read, I can't get anymore now

Bitcoin dumping and taking the market with it. It's a sale!!!!
Record mining profits atm though because of all the action. Insane!

[KAC]

I was talking about the last batch. Will pay shipping.