Official Mining Thread

[Leprechaun]

You need cards to keep each other warm. Literally.
They get lonely.

[Leprechaun]

Both eth and profits going back up.
To those in the last bull run, what signs should I look for to know when to sell all and get da faq out?

I'm thinking the day my 90 year old neighbor asks me about "this Bitcoin thing" is the day I know I need to sell off.

[Leprechaun]

Chia network went live today. Time to hard drive farm? Seems like the new king of ROI.

I'm expecting network difficulty to shoot straight up into orbit in no time.

Edit: Network difficulty already sky high. I assumed all the Chinese bought out the hard drives

https://chiacalculator.com/

[Riptide]

Eth gas is still meh and probably going to stay that way. We're actually doing something rather similar. Using nicescam people mine eth and then get paid in btc. Using moneroocean I'm mining eth and getting paid in xmr.

Seems to me that eventually, BTC will crash and never recover. Could be years, but I think when that happens we'll see a huge mix up in the space and possibly eth or some other project will take the lead.

[Leprechaun]

It's possible eth takes over in the short term. Currently the whole market tanks when BTC farts.

[Riptide]

I've heard people refer to it as 'the reckoning' lol when btc finally gets replaced. Total speculation though on what will happen and exactly when. Could be less than 10 years off, might be longer, who really knows.

From what little I've read about it btc is a pretty poor crypto currency. Slow, with high transaction fees. It's popular because it was the first and has maintained that dominance.

Will be interesting, I hope to see what happens when the cryptpocalypse comes to pass.

[Leprechaun]

It will be the flippening. Bitcoin won't be boss anymore. It's just the OG. Trillions of transactions so far without a problem.

Two very green days, making some coin finally

[SirBaron]

Since Riptide seems to not like nicehash lol, any alternatives that can mine Etherium directly to a wallet. Or better to stick with just nicehash, and convert BTC to ETH.

[Leprechaun]

You could mine directly to a pool.

Love the eth price and action..record $51 last 4hr period. Looks like more next period

[Leprechaun]

$234 last 24hrs! This is why GPUs are selling for insane prices.
Chia network doubled in price. Sigh. Now I have to seriously consider HDD mining

[KAC]

Yes even Nicehash is doing well. I don’t understand other things so I will stay with Nicehash. It is second best still in earn rate so I don’t give a crap. Also not sure wtf they gonna take from my HDD. Might be a scam.

[Mangler]

I wonder how much e-waste Chia mining is going to end up producing?

Seems like a consumer SSD is going to be close to its limit after just one month.

[SirBaron]

A lot, anyone who takes part in Chia for money is just promoting waste.

Mining GPU's can be re-used and pretty much good condition with thermal paste/pads being replaced.

Dead SSD is a dead SSD.

[Leprechaun]

Ya, I question their "farming" instead of mining and their project "green paper" Instead of "white paper". I also wonder how badly the SSDs will fail before you farm any ch ch ch chia.

[A2597]

Good grief mining has been profitable this weekend, around 2x-3x my usual on nicehash!
I just mined 0.00004667 BTC worth of crypto in 4 hours on a single RTX 3070. (About $2.20 euro)

[Leprechaun]

8am-noon was all time record period for me. $60 cad. 0.00086 BTC
Gonna rake in 0.005btc in a single day!!

[KAC]

Earn rates are definitely good these days since 8th May.

[Leprechaun]

Earn rates are definitely good these days since 8th May.

I've been at this almost 6 months. Since Saturday it's the best I've experienced.

[KAC]

Yes its pretty dope. Normally it would bounce around but now it is consistently around the $35 per day mark. Just fyi the most I ever had even when I had 9 1080 Ti was $40 per day so this is pretty grand with just 2 cards lol.

[Greasy]

I just can't wait for the RAM miners to come into play. What's next after that? Sound card proof of sound and space time? Broadband speed proof of speed and time?

Enjoy the ponzi schemes while they last I guess.

[Riptide]

Eth gas has been high. Monero ocean found two eth blocks one over the weekend and one yesterday. Was a nice little bump in pay once it was exchanged for xmr and great timing on finding the blocks.

Crypto isn't a ponzi scheme.

https://seekingalpha.com/article/4404419-is-bitcoin-ponzi-scheme-point-point-analysis

[Leprechaun]

Currently making enough every 3 days to buy a new RTX card if one was available. Now those that over payed previously don't look as foolish.

Crypto isn't a ponzi scheme. It becomes less and less so as time goes on and new projects keep being made.

In 10 years it's going to replace most of the 100+ year old ways of doing stuff

[SirBaron]

I just can't wait for the RAM miners to come into play. What's next after that? Sound card proof of sound and space time? Broadband speed proof of speed and time?

Enjoy the ponzi schemes while they last I guess.

Yet major places are starting to embrace cryptocurrency, mastercard, visa, hell European Bank invested in cryptocurrency.

This ponzi scheme has earned me 1200 euro in 2.5 months for doing nothing, not including what I make trading etc.

[Leprechaun]

But speaking of Ponzi schemes and giving crypto a bad name. My friend's brother invested $50k into 5 different pump and dumps. Went 260x on one. He's up 4 million currently since April. I don't know if I hate him more or if jealous more.

[Riptide]

There is a lot of dumb money in crypto. Projects like dogecoin are a perfect example.

It's anybody's guess as to what will skyrocket next because evidently the project doesn't really need to have any solid purpose or backing.

Pump and dumps are scams, so he made the money taking part in a scam. It's legal in this space as far as I know so I guess congrats to him. Meanwhile I'm spending cash on actual equities and mining projects like xmr that have a real purpose and backing. And I'm not making 4 million usd.

[Leprechaun]

I just have mined money in BTC eth and the large altcoins. Not gonna lie, people becoming millionaires off human stupidity makes me equal parts angry and jealous.

[KAC]

Damn even with BTC falling a bit my earn rate is about $40 with only 2 cards. Pretty crazy times. I am doing about 0.00011 BTC / 4 hours which is ridiculous as I was doing mostly 0.00004 BTC / 4 hours before.

[A2597]

apparently, memecoins on the ETH codebase are to blame for the raised gas prices, which...means we make more for mining.

Not going to complain. And hoping LINK does its 2-3x boom that they predict. If that happens, I may just buy the Vive 2 Pro rather than Valve Index. LOL

[Riptide]

Is LINK able to be mined via CPU or GPU?

[A2597]

Is LINK able to be mined via CPU or GPU?

it can be mined, but the most profitable to mine is ETH. So mine that, then convert to your coin of choice.

[KAC]

Profits are down again. No longer pushing the BTCs in my wallet.

[Leprechaun]

It be down. No more crudcoins pumping. Vitalik put an end to it. Now we're back to semi higher than average mining payouts. This week is insane though.

[A2597]

I managed to pull in 0.0015btc this week. That's crazy. Usually it's more like 0.0006....

[Riptide]

it can be mined, but the most profitable to mine is ETH. So mine that, then convert to your coin of choice.

Already doing that through monero ocean.

ETH gas spiked a little bit today but we are still way down from the amazing bonanza that was May 8th->13th.

I enjoyed it while it lasted

[Leprechaun]

Gas prices will well above avg though. Good for mining. BTC down but that's perfect. My other coins are pumping will move profits to BTC and see that pump later

[Riptide]

Elon is still tweeting away, trying to crash btc with some other nonsense he was babbling about today.

On the bright side if it continues, it might help a little bit with the gpu shortage. Maybe..

[Nunz]

Everything he has done is textbook market manipulation. It's ****ing disgusting .. especially with how many dipshits worship this nutjob.

[Leprechaun]

Someone needs to ask him if he knows of a good electric car, a good battery, an electric car with good mileage per charge, and an environmentally friendly battery. He's a douche.. helped us get cheaper coins though.

[Greasy]

The good old Ponzi schemes are still going strong. Good to know.

Before you attack, look it up, and realize what you're actually "investing" in.

[KAC]

I am seriously thinking about buying some coin. 42 Gs is a tight price. Just don't know how low it will go.