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  1. #76
    絶対領域が大好きなんだよ baseline bum's Avatar
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    Ethereum Miners Are Selling Their Graphics Cards

    Miners lose, gamers win.


    The digital gold rush for cryptocurrencies like ethereum has caused a scarcity of graphics cards, and PC gamers are mad. Products made primarily for gaming happen to be really good at crunching the numbers required to mine digital currency, and miners have been buying up all the graphics cards.

    Can you blame them? From April of this year through the middle of June, this is what happened to the price of ethereum:


    over the last month, etherium has lost half its value.

    Because of how the blockchain works, ethereum mining gets more difficult over time, causing any particular hardware setup to gradually earn less money every day. Based on the RX580's processing ability, power consumption, the drop in trading price, and the increase in mining difficulty, I did some back-of-the-envelope calculations.*

    According to my math, the same graphics card that used to earn about $5 a day now earns less than roughly $2 a day.

    A $300 graphics card that might have paid for itself in 2-3 months (after electricity costs) will now take over 6 months, at best. A sizable mining operation can stomach that sort of long-term investment, but there aren't a lot of hobbyists who are willing to stick it out.

    You can never tell what is going to happen to the trade price of cryptocurrencies, but most people probably don't expect the situation to suddenly and quickly reverse itself.

    What's more, many ethereum mining enthusiasts expect AMD's current cards to stop performing as well as they do now within a few months—

    tests have shown a severe reduction in performance as the complexity of ethereum calculations increase.

    Nobody knows what the problem is for sure, or if a driver update might fix it, but

    an RX 480 or 580 bought in the last month might never pay for itself once you factor in electricity costs.

    https://motherboard.vice.com/en_us/a...graphics-cards


    Ether has shot back up in the last few days and I'm seeing RX 470 cards whose MSRP was $180 selling for $300+ on ebay right now. Not asking $300, I mean people bidding that high. Though they were going for $400+ a few weeks ago.

  2. #77
    Veteran Fabbs's Avatar
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    Has anyone cashed out successfully?
    As in people you saw with your own eyes. Not interweb story.

  3. #78
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    The attraction is the anonymity - not energy efficiency.
    the energy costs are PRECISELY why many miners have quit

  4. #79
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    the energy costs are PRECISELY why many miners have quit
    I don't see it as miners quitting because of ENERGY costs but as 2/3 have been mined, it gets harder to mine. If one got in at the beginning when there were more bit coins to be had (and yes, less energy cost to mine), no one had any idea it would be approaching $3000 a bit coin. The type of person to be mining back then was attracted to the anonymity/untrace-ability, the idea of digital currency - the challenge of mining was "fun" - not particularly done for money.

  5. #80
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    I don't see it as miners quitting because of ENERGY costs
    read my ing article above, aw it, just try this:

    "an RX 480 or 580 bought in the last month might never pay for itself once you factor in electricity costs"

    I bet lots of miners don't know what their mining rigs consume in kWh nor what they pay for kWh.

  6. #81
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    Bitcoin Has Avoided Tearing Itself Apart (for Now)

    The cryptocurrency looked headed for a “hard fork”—which wouldn’t be all that different from how physical currencies have evolved in the past.

    The world’s most popular cryptocurrency has been facing a challenging problem for several years now: it can only be used to make seven transactions per second.

    If it’s to become a truly useful payment system in the future, that’s nowhere near enough—but moves to fix the fault have caused huge and potentially troubling divides in its user base.

    The issue is well known, but as the currency has continued to grow in popularity, it’s become an ever-increasing threat to its own success. As we’ve pointed out in the past,

    Bitcoin’s transaction rate is paltry compared with those of conventional payment systems like, say, Visa, which processes an average of 2,000 transactions per second and can handle up to 56,000 transactions per second if pushed.


    https://www.technologyreview.com/s/6...apart-for-now/



  7. #82
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    Wow, what's going on? Bit coin over $3200! How stupid of me to sell at $400 - 8x.

  8. #83
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    Experiment: Build a (Profitable) Ethereum Mining Rig From Spare Parts


    http://www.tomshardware.com/reviews/...gn=20170817-th


  9. #84
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    The lives of bitcoin miners digging for digital gold in Inner Mongolia


    https://qz.com/1054805/what-its-like...eid=47e367557b

  10. #85
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    The attraction is the anonymity - not energy efficiency.
    As usual, you have no clue. The cost of electricity dominates whether one makes enough or any mining money.

  11. #86
    Veteran Fabbs's Avatar
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    Has anyone cashed out successfully?
    As in yourself or people you know and saw cash out with your own eyes. Not interweb story.

  12. #87
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    As usual, you have no clue. The cost of electricity dominates whether one makes enough or any mining money.
    Bitcoin Energy Consumption Index

    https://digiconomist.net/bitcoin-energy-consumption

    energy consumption is such a huge issue that it's fundamental, esp in cities with high energy costs, in deciding if one can make ANY money.

  13. #88
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    Here we go again - bitcoin over $4600. Hope people bought the dip.

  14. #89
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    Here we go again - bitcoin over $4600. Hope people bought the dip.
    $5697 - over $1k in just 5 days - just WOW.

  15. #90
    Breaker of Derps RandomGuy's Avatar
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    Has anyone cashed out successfully?
    As in people you saw with your own eyes. Not interweb story.
    Bought a kick-ass video card and had a very savvy friend recommend it. Not sure the electricity would have been worth the payout, but didn't crunch the numbers.

  16. #91
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    One Bitcoin Transaction Now Uses as Much Energy as Your House in a Week


    Bitcoin’s surge in price has sent its electricity consumption soaring.

    it would be profitable for Bitcoin miners to burn through over 24 terawatt-hours of electricity annually as they compete to solve increasingly difficult cryptographic puzzles to "mine" more Bitcoins.

    https://motherboard.vice.com/en_us/a...term=Read+more


  17. #92
    Got Woke? DMC's Avatar
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    One Bitcoin Transaction Now Uses as Much Energy as Your House in a Week


    Bitcoin’s surge in price has sent its electricity consumption soaring.

    it would be profitable for Bitcoin miners to burn through over 24 terawatt-hours of electricity annually as they compete to solve increasingly difficult cryptographic puzzles to "mine" more Bitcoins.

    https://motherboard.vice.com/en_us/a...term=Read+more

    Bitcoins make money, your posts use electricity and don't do anything for anyone.

  18. #93
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    One Bitcoin Transaction Now Uses as Much Energy as Your House in a Week


    Bitcoin’s surge in price has sent its electricity consumption soaring.

    it would be profitable for Bitcoin miners to burn through over 24 terawatt-hours of electricity annually as they compete to solve increasingly difficult cryptographic puzzles to "mine" more Bitcoins.

    https://motherboard.vice.com/en_us/a...term=Read+more

    Why spend your money trying to mine bit coin - just treat it like a stock - buy when it swings low and sell when it climbs (of course, no one knows what the high/low is and when it turns) or just buy and hold. That strategy works as long as it keeps climbing (which it seems like it's been doing). This climb is incredible - earlier this year, dh and friend were projecting it would eventually hit 10k (in the distant future) - now, it seems like that's not so far off. If he had only had that discussion with ME (instead of his computer friend) when it was $6 per, we'd have $7mil minus the $6k initial investment :-( but imagine how that guy who spent 10k bit coins buying 2 pizzas feels now.

  19. #94
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    Dh said that (if you have the equipment), he thinks it's better to do bit coin block chain verification instead of mining. As bit coin becomes more prevalent, verification (and getting a piece of each transaction you verify) will grow instead of mining from a decreasing number of bit coins. Something worth investigating, imo.

  20. #95
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    And bit coin breaks the 8k barrier. Why, oh why, did I sell my 20 bit coins at $400 each :-(

  21. #96
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    And it breaks the 9k barrier - just more wow!

  22. #97
    🏆🏆🏆🏆🏆 ElNono's Avatar
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    Dh said that (if you have the equipment), he thinks it's better to do bit coin block chain verification instead of mining. As bit coin becomes more prevalent, verification (and getting a piece of each transaction you verify) will grow instead of mining from a decreasing number of bit coins. Something worth investigating, imo.
    There's no commission for verification, because you don't have to verify the entire block chain. About 6 blocks are sufficient to verify a transaction, which nowadays fits comfortably in about a couple hundred megabytes. The system was designed with that goal in mind. While the amount of transactions might grow, since the blockchain is a linear construct, the time to verify the transactions in it, is also linear.

  23. #98
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    Exclusive: Nearly 4 Million Bitcoins Lost Forever, New Study Says


    http://fortune.com/2017/11/25/lost-bitcoins/

  24. #99
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    What Happens When All 21,000,000 Bitcoins Have Been Mined?

    https://cryptocoinmastery.com/what-happens-when-all-bitcoins-have-been-mined/

  25. #100
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    Bitcoin Mining Now Consuming More Electricity Than 159 Countries Including Ireland & Most Countries In Africa

    http://ritholtz.com/2017/11/bitcoin-...Big+Picture%29

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