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Tech - Etherium (2 Viewers)

nyghteyes

What is a macro??
Joined
Mar 21, 2006
RedCents
1,437¢
Any Etherium miners here? What hardware has been working the best for you? Purely Linux or running a windows miner?
 
Huge miner here ;)

For straight up mining, RX 470 is by far my top performer. Hits about 80W and produces a rock solid 26 MH/s with bios mod and mem overclock. I also undervolted/underclock the core for a nice chilly 70C running temp. Windows is my go to for all AMD Cards as their Linux support is horrid. I install a stripped down version of Windows 10 that is very clean and disabled updates.

Now, that all said, I'm not a huge ethereum or bitcoin fan. I have my 6 card RX 470 rig going for ethereum, but my baby is the Nvidia Linux box I have been putting together. I a big fan of the GTX 1070 running CUDA 8.0 dev, with the latest drivers. I do not mine ETH with these like most the fools out there. ZCash (Equihash Algorithm) is where it is at. These have been performing almost double my AMD cards in daily mine profits. That said, they are expensive at $400 a pop. The Nvidia Linux support is pretty solid, and I run Ubuntu 16.04.

I really like running both as they offset each other because of the fickle crypto markets, this makes me a bit more resilient to them. That said, It's a bloodbath today, and I'm shitting the bed on all my Crypto holdings.

Oh, and here is my partial setup in the garage (it gets a little hot during the summer, about 10 degrees hotter inside) I have zip tied a bunch and added some more cards since this pic, but here you go:

gpurig.jpg

Here is my monitoring, I use the open source enterprise monitor software Nagios. A bit overkill, but hell its nice for a birdseye view. I also create custom scripts to watch my temps on the linux box GPUs: (Blur'd out my work server and gateways, this is hosted on a Google Cloud server, which is amazingly cheap at less than $1 a month. )

monitoring.PNG
 
You don't make that much money from it. The offset of all money for the hardware and power consumption of all of it 24/7 it's not worth it. People have spent $30k for mining farms and lose money on it.
 
You don't make that much money from it. The offset of all money for the hardware and power consumption of all of it 24/7 it's not worth it. People have spent $30k for mining farms and lose money on it.

Zero is mostly correct here, it depends on the state of the markets and you can make a good bit of money, but you can also lose a bunch too.

I had a bunch of old motherboards and scrapped together my rigs on the cheap. So let's say you have the knowledge and time to do the rigs, here is how it worked out for me:

Rig 1 ( 6x RX 470, old MB, memory, and drive) = $1500
Note: if you had to buy MB and other parts, this would be about $2000.
I make about $25 a day on this rig atm, but when ethereum was booming this was as high as $40 a day.

So ROI (Return on Investment) for the average Joe would be:
$2000 / $30 a day Avg. = 67 days - power cost (800W at the wall 1kw per day @ 0.07 = $1.68 per day x 67 days = $112.56 in power cost

After ROI you make the following per month:
$900 per month in mining revenue - $50.40 in power cost = $849.60 in profit per month after ROI.

Overall it can be profitable. What isn't factored in is the time and effort to get all this working and learning about crypto. Also, this doesn't include any hardware failure. Which is much more likely because you are putting extreme stress on your hardware. These GPUs run at 100% load 24/7 and I don't anticipate them making it much past 1 year being in a garage.
 
Noob, you answered a lot of what I was interested in without even having to type it out. I have a lot of hardware sitting around so figured I would just spend some money on power and time isn't related to cost atm.

I have a couple Edge servers with Dual Xeons and a few 590GTX's,Even considered running my 980 rig for when I'm not home using it. Figured I would start experimenting. With Etherium just crashing now is the time to get in, like, by this weekend. Zcoin and Litecoin are my alternatives that look promising.
 
Rx470s are expensive now and hard to find.

I have been buying some coins, but I think it might be kind of fun to build a rig to mine with as well
 
Noob, you answered a lot of what I was interested in without even having to type it out. I have a lot of hardware sitting around so figured I would just spend some money on power and time isn't related to cost atm.

I have a couple Edge servers with Dual Xeons and a few 590GTX's,Even considered running my 980 rig for when I'm not home using it. Figured I would start experimenting. With Etherium just crashing now is the time to get in, like, by this weekend. Zcoin and Litecoin are my alternatives that look promising.

Stay away from the ASIC market, its rigged and very risky imo. I really want a Litecoin ASIC, but shelling out $2000 to wait 4 months for it to arrive after doing a wire transfer to China isn't really my cup of tea. So direct mining BTC or LTC is a bit rough for us in the states.

That said, running Xeon Servers is a waste. Your energy costs will be double because of how much energy those cost to run. Also, they typically are lacking in PCIE ports.

DO NOT CPU MINE! It is extremely wasteful and only a handful of instances where it can actually turn a profit. AMD Processors with a 95W< or less TDP with 8 Cores mining Monero is basically the only thing that I've put together that actually turns more than $1 a day. GPUs are where you make your money

Here are all the cards I've used and a ballpark for what I earn.
All Intel processors pretty much suck... i5 and below are absolutely worthless. i7 might produce around $0.60 a day.
7770 HD Radeon Card (Test box) produces about $0.30 a day - ONLY CAN MINE ZCASH
RX 470/570 (After mods to Bios and OC to memory 1900 mhz) $3 - $5 a day - Ethereum
RX 480/580 (After mods to bios and OC to memory 2100 mhz) $3.5 - $5.5 a day - Ethereum
GTX 970 (Lbry / ZCash) - ~$3 (No Ethereum mining in Windows)
GTX 980 (Lbry / ZCash) - ~$3.5 (No Ethereum mining in Windows)
GTX 1070 (Lbry / Zcash / Ethereum) - ~$5 (Wide selection of algorithms.)

Again do not CPU mine, I even hesitate doing it on my mining rigs unless its a processor I don't mind burning out AND has a low power draw.

For those that want to give it a whirl, I highly recommend starting off with a service like Nicehash.com and then exporting out to a Hot Wallet like exodus.io
 
I remember coming across an article about if it was worth it and even someone from west coast that was a electrical engineer used solar panels he had to power the devices. honestly its nice but its a very very long term investment for anyone who wants to do this.
 
I have a couple GTX 1050 TIs laying around that I was thinking about putting together for this. they are nowhere near as powerful at the 1070, but way cheaper at 130$ or so.
 
This is incredibly fascinating to me... I had no idea people were doing this.
 
What mb are you using for this one?

To my knowledge, the only manufacturer that is doing a large number of cards per board say 4 to 6 is ASrock

Here is what I bought
https://www.newegg.com/Product/Product.aspx?Item=N82E16813128886
GIGABYTE GA-990FX-Gaming AM3+ AMD 990FX

The old AM3 chips are stupid cheap and a mining rig requires almost no processing power. I am able to get away putting a $5 Athlon X2 chip in it lol.

ASRock actually isn't very good, Gigabyte has a couple boards, but most miners use Biostar they have boards meant specifically for mining.
 
Here is what I bought
https://www.newegg.com/Product/Product.aspx?Item=N82E16813128886
GIGABYTE GA-990FX-Gaming AM3+ AMD 990FX

The old AM3 chips are stupid cheap and a mining rig requires almost no processing power. I am able to get away putting a $5 Athlon X2 chip in it lol.

ASRock actually isn't very good, Gigabyte has a couple boards, but most miners use Biostar they have boards meant specifically for mining.

Thanks again noob, your advice has been extremely helpful.
 
I remember coming across an article about if it was worth it and even someone from west coast that was a electrical engineer used solar panels he had to power the devices. honestly its nice but its a very very long term investment for anyone who wants to do this.

Well said.

I've been in favor to see it do well for almost half a year, but it's a fairly high risk/high reward investment in terms of volatility that may not be a very practical avenue for people on a budget, with small savings, limited expansion of income by changing company or position, or people who have a family and more expenses than a single investor. Bitcoin and Ethereum are still relatively new currencies/technologies that still widely limited by accessibility, ease of use, and congested blockchain channels that keep many merchandisers from accepting bitcoin. There's lots of promise with Japan backing it as an official currency, a giant growth in merchandisers accepting bitcoin compared to just a year or two ago, and PayPal supposedly developing some kind of bitcoin wallet.

While there are only supposed to be 21 million bitcoins in circulation once all are farmed, there has been talk of splitting bitcoins or introducing more, and while that could be speculation, even that one of the devs would consider it which seems to be the world around the internet would put a more than undesirable earthquake to a growing worth. At the end of the day if you're an aggressive investor and don't mind losing/starting over the potential for a great return is there, it's just a shame the technology isn't perfect. It should be, and with all due respect to other digital currencies bitcoin is the only one that has outgrew its bubble time and time again. I track BTC/ETH pretty closely, and a few others that don't have much traction/substance. If you're really interested do your research, but using already made capital to acquire BTC/ETH is a lot less energy and overhead compared to trying to farm it unless you're with a giant company, pay a company for their farming services and maintenance, or already a millionaire to dump an aggressive amount of money into massive rooms and or facilities then it's not worth the time. You'd be better off working a 2nd job at a restaurant or retail.
 
Well said.

I've been in favor to see it do well for almost half a year, but it's a fairly high risk/high reward investment in terms of volatility that may not be a very practical avenue for people on a budget, with small savings, limited expansion of income by changing company or position, or people who have a family and more expenses than a single investor. Bitcoin and Ethereum are still relatively new currencies/technologies that still widely limited by accessibility, ease of use, and congested blockchain channels that keep many merchandisers from accepting bitcoin. There's lots of promise with Japan backing it as an official currency, a giant growth in merchandisers accepting bitcoin compared to just a year or two ago, and PayPal supposedly developing some kind of bitcoin wallet.

While there are only supposed to be 21 million bitcoins in circulation once all are farmed, there has been talk of splitting bitcoins or introducing more, and while that could be speculation, even that one of the devs would consider it which seems to be the world around the internet would put a more than undesirable earthquake to a growing worth. At the end of the day if you're an aggressive investor and don't mind losing/starting over the potential for a great return is there, it's just a shame the technology isn't perfect. It should be, and with all due respect to other digital currencies bitcoin is the only one that has outgrew its bubble time and time again. I track BTC/ETH pretty closely, and a few others that don't have much traction/substance. If you're really interested do your research, but using already made capital to acquire BTC/ETH is a lot less energy and overhead compared to trying to farm it unless you're with a giant company, pay a company for their farming services and maintenance, or already a millionaire to dump an aggressive amount of money into massive rooms and or facilities then it's not worth the time. You'd be better off working a 2nd job at a restaurant or retail.

I dont think you are in the same realm hobbyist farmers are, from large investment practices you are probably spot on. You state that this isnt worth it unless your dumping a ton into this. Where as Noob has proof of practice in the second post. If you have decent enough hardware to let sit and run when you are already at work to make a little side cash then why not? So if its even a few hundred dollars a month and its costing you very little to do I don't understand the discouragement. Not trying to make it rich but making a little cash off something that takes very little of my day is far better supplemental income than working a second job.

My personal example fits this, I have hardware sitting around and the ability to get my hands on decent video cards relatively cheap. I work 10 hours a day already, a second job and keeping my family together is out of the question. Letting a PC work 24/7 while I'm doing something else is no different than legal AFK botting for that 1 rare a week that you guys sell here for $100 or $200. Sure the market is volitile but most money markets are. But I dont think its as high risk as you are saying when there isnt a huge investment.

Yep there are plenty of failed bitcoin stories, but I would rather dump a couple grand into this than go dump it in the stockmarket. We've had mutiple market crashes in the last decade that have ruined people with no hope of making it back (I personally lost half my 401k on the so called safer investments) , this is a much smaller scale that most are talking about here, not looking to retire off mining. I'm not trying to be argementitive but, you are looking at making this a business when really I think most are here as hobbyist.

I backed out when bitcoins were only 20cents a piece and didnt take the initiative to learn about this, now granted the opportunity isnt as great but its still a fun opportunity when the cost of power is less than the market price of creating it.

I appreciate your contribution to the thread but I just think you are looking at a much larger scale than the scope of the thread.
 
Well said.

I've been in favor to see it do well for almost half a year, but it's a fairly high risk/high reward investment in terms of volatility that may not be a very practical avenue for people on a budget, with small savings, limited expansion of income by changing company or position, or people who have a family and more expenses than a single investor. Bitcoin and Ethereum are still relatively new currencies/technologies that still widely limited by accessibility, ease of use, and congested blockchain channels that keep many merchandisers from accepting bitcoin. There's lots of promise with Japan backing it as an official currency, a giant growth in merchandisers accepting bitcoin compared to just a year or two ago, and PayPal supposedly developing some kind of bitcoin wallet.

While there are only supposed to be 21 million bitcoins in circulation once all are farmed, there has been talk of splitting bitcoins or introducing more, and while that could be speculation, even that one of the devs would consider it which seems to be the world around the internet would put a more than undesirable earthquake to a growing worth. At the end of the day if you're an aggressive investor and don't mind losing/starting over the potential for a great return is there, it's just a shame the technology isn't perfect. It should be, and with all due respect to other digital currencies bitcoin is the only one that has outgrew its bubble time and time again. I track BTC/ETH pretty closely, and a few others that don't have much traction/substance. If you're really interested do your research, but using already made capital to acquire BTC/ETH is a lot less energy and overhead compared to trying to farm it unless you're with a giant company, pay a company for their farming services and maintenance, or already a millionaire to dump an aggressive amount of money into massive rooms and or facilities then it's not worth the time. You'd be better off working a 2nd job at a restaurant or retail.

I dont think you are in the same realm hobbyist farmers are, from large investment practices you are probably spot on. You state that this isnt worth it unless your dumping a ton into this. Where as Noob has proof of practice in the second post. If you have decent enough hardware to let sit and run when you are already at work to make a little side cash then why not? So if its even a few hundred dollars a month and its costing you very little to do I don't understand the discouragement. Not trying to make it rich but making a little cash off something that takes very little of my day is far better supplemental income than working a second job.

My personal example fits this, I have hardware sitting around and the ability to get my hands on decent video cards relatively cheap. I work 10 hours a day already, a second job and keeping my family together is out of the question. Letting a PC work 24/7 while I'm doing something else is no different than legal AFK botting for that 1 rare a week that you guys sell here for $100 or $200. Sure the market is volitile but most money markets are. But I dont think its as high risk as you are saying when there isnt a huge investment.

Yep there are plenty of failed bitcoin stories, but I would rather dump a couple grand into this than go dump it in the stockmarket. We've had mutiple market crashes in the last decade that have ruined people with no hope of making it back (I personally lost half my 401k on the so called safer investments) , this is a much smaller scale that most are talking about here, not looking to retire off mining. I'm not trying to be argementitive but, you are looking at making this a business when really I think most are here as hobbyist.

I backed out when bitcoins were only 20cents a piece and didnt take the initiative to learn about this, now granted the opportunity isnt as great but its still a fun opportunity when the cost of power is less than the market price of creating it.

I appreciate your contribution to the thread but I just think you are looking at a much larger scale than the scope of the thread.

I think you both are spot on. I'm far from being a rich man, and I come from pretty humble origins. I am always trying to do a side hussle to make a little extra for the family. EQ is one of the few games I've actually spent time on and made a little bit on. If I really tried to make the highest return on EQ I'd probably max out at $200-$300 a month if I started leveling and selling characters with a couple donations from macros on the side, but at that point it is like a second job.

Crypto on the other hand has given me a good bit of wiggle room and some freedom. I paid for my family's last vacation hotel in bitcoin through expedia. Now it was only the equivilant of $500 but still that is free money so to speak. I've pieced together my rigs at the lowest possible cost and after an initial $400 investment, I've slowly chipped away at buying new equipment with mining earnings, and also taking a little out for my family and personal expenses.

I started with just running a miner on the main PC making about $3 a day and then slowly built it from there. Its a fun hobby for me, but at this point its paid for itself and I am just slowly adding to my rigs and building them out. If you have the ability to do this and slowly piece together the rigs do it! I love learning about it, and the communities and the very fickle nature of it all.

That all said, I'm not advocating going and taking out a loan of 10k and building a huge mining setup, you will probably lose your ass. VirtualWorkshop is very correct that crypto is EXTREMELY volitile. You can make that back in 2 months or be out all of it in 2 months and that is no joke.

All of this said, I love crypto, and I spend more time in it than I do playing games these days. I always encourage people to invest their time in it, not nessessarily there money. One last thing... Litecoin is my big bet. I consolidated all my holdings across Bitcoin, Ethereum, Golem, Augur, Lbry, Dash, Dogecoin, and Ripple. I'm 100% Litecoin here on out! All my mining rewards are converted to Litecoin (LTC) and I think some wonderful things are about to happen. I follow their development and it has some amazing applications with none of the problems that the above coins have currently.
 
I think you both are spot on. I'm far from being a rich man, and I come from pretty humble origins. I am always trying to do a side hussle to make a little extra for the family. EQ is one of the few games I've actually spent time on and made a little bit on. If I really tried to make the highest return on EQ I'd probably max out at $200-$300 a month if I started leveling and selling characters with a couple donations from macros on the side, but at that point it is like a second job.

Crypto on the other hand has given me a good bit of wiggle room and some freedom. I paid for my family's last vacation hotel in bitcoin through expedia. Now it was only the equivilant of $500 but still that is free money so to speak. I've pieced together my rigs at the lowest possible cost and after an initial $400 investment, I've slowly chipped away at buying new equipment with mining earnings, and also taking a little out for my family and personal expenses.

I started with just running a miner on the main PC making about $3 a day and then slowly built it from there. Its a fun hobby for me, but at this point its paid for itself and I am just slowly adding to my rigs and building them out. If you have the ability to do this and slowly piece together the rigs do it! I love learning about it, and the communities and the very fickle nature of it all.

That all said, I'm not advocating going and taking out a loan of 10k and building a huge mining setup, you will probably lose your ass. VirtualWorkshop is very correct that crypto is EXTREMELY volitile. You can make that back in 2 months or be out all of it in 2 months and that is no joke.

All of this said, I love crypto, and I spend more time in it than I do playing games these days. I always encourage people to invest their time in it, not nessessarily there money. One last thing... Litecoin is my big bet. I consolidated all my holdings across Bitcoin, Ethereum, Golem, Augur, Lbry, Dash, Dogecoin, and Ripple. I'm 100% Litecoin here on out! All my mining rewards are converted to Litecoin (LTC) and I think some wonderful things are about to happen. I follow their development and it has some amazing applications with none of the problems that the above coins have currently.



I would consider investing in the stock market, which is what I do with the little cash I make off EQ (ROI is substantial if you do this, but you need some basic knowledge in options trading or a good broker). If you want to make sure EQ doesn't become a 2nd job, I'd consider plat farming, completely AFK in the EQ bazaar. Completely legit from Daybreak perspective and no MQ2 needed.
 
I would consider investing in the stock market, which is what I do with the little cash I make off EQ (ROI is substantial if you do this, but you need some basic knowledge in options trading or a good broker). If you want to make sure EQ doesn't become a 2nd job, I'd consider plat farming, completely AFK in the EQ bazaar. Completely legit from Daybreak perspective and no MQ2 needed.

401k is a no brainer, everyone should be doing it, but buying Stock direct... Hell no. Its horrible and moving funds around you have to complete complex tax returns on any gains. The average person should NEVER buy stocks directly, that is just bad advice. 401k buying index funds is a must for everyone and where the bulk of your investments should reside. If no 401k, do an Individual IRA. That is the proven investment that EVERYONE SHOULD DO!
 
With eth being around $180 now has that destroyed profits? Is there a certain price point where it wouldnt be worth starting out or a price where it wouldnt be profitable to run the rigs unless you thought there would be a jump in prices?

- - - Updated - - -

Crazy. In 23 hours it went from 180 to 141.
 
401k is a no brainer, everyone should be doing it, but buying Stock direct... Hell no. Its horrible and moving funds around you have to complete complex tax returns on any gains. The average person should NEVER buy stocks directly, that is just bad advice. 401k buying index funds is a must for everyone and where the bulk of your investments should reside. If no 401k, do an Individual IRA. That is the proven investment that EVERYONE SHOULD DO!

Which complex tax returns are you referring to?

I have managed investments, mutual funds, traditional and roth IRAs, etc. and most do, in fact, stick to large mutual funds/index funds. There's a reason why investors benchmark themselves against the market index funds, and that's very rarely will an investor outperform the larger market. It's very difficult to tear away from the larger market forces at work.

With that said, if you're smart about individual stock investing (by "smart" I mean read some books and understand tax implications and basic strategies) you can make some money. You also need to set rules for yourself, and be EXTREMELY disciplined about maintaining those rules. Greed will KILL you. You need to be heartless about it. An example of that is setting a percentage goal that you want to make for a particular stock. You think Apple will make 10% this year, so you invest in Apple. Should Apple hit the 10% goal, you sell (if you're looking to avoid certain tax situations, another criteria may be you have to have held it for a year).

And options trading.......... jesus... lol... you can make a SHITLOAD of money, but you can also loose your shirt faster than you can hit the enter key on the transaction. Make sure you know what you're doing and how to offset potential loses. Hedging is king with options.
 
That's what a friend in Oz told me. He said the Chinese are much more efficient at it. He even calculated my daily profit on Etherium based on my $.07/KWH electrical rate.

Still, I like reading these articles.
 
SOME options can be incredibly risky, but not all are so bad. a lot of people write covered calls as a consistent income source. but like you said, you need to understand what you are doing.

this is a good thread!
 
I'm selling off all my rig parts while demand is high and all gpus are out of stock. The key to profits no matter what you are doing, is knowing when to quit.

Sent from my SAMSUNG-SM-G920A using Tapatalk
 
Huge miner here ;)

For straight up mining, RX 470 is by far my top performer. Hits about 80W and produces a rock solid 26 MH/s with bios mod and mem overclock. I also undervolted/underclock the core for a nice chilly 70C running temp. Windows is my go to for all AMD Cards as their Linux support is horrid. I install a stripped down version of Windows 10 that is very clean and disabled updates.

Now, that all said, I'm not a huge ethereum or bitcoin fan. I have my 6 card RX 470 rig going for ethereum, but my baby is the Nvidia Linux box I have been putting together. I a big fan of the GTX 1070 running CUDA 8.0 dev, with the latest drivers. I do not mine ETH with these like most the fools out there. ZCash (Equihash Algorithm) is where it is at. These have been performing almost double my AMD cards in daily mine profits. That said, they are expensive at $400 a pop. The Nvidia Linux support is pretty solid, and I run Ubuntu 16.04.

I really like running both as they offset each other because of the fickle crypto markets, this makes me a bit more resilient to them. That said, It's a bloodbath today, and I'm shitting the bed on all my Crypto holdings.

Oh, and here is my partial setup in the garage (it gets a little hot during the summer, about 10 degrees hotter inside) I have zip tied a bunch and added some more cards since this pic, but here you go:

View attachment 12252

Here is my monitoring, I use the open source enterprise monitor software Nagios. A bit overkill, but hell its nice for a birdseye view. I also create custom scripts to watch my temps on the linux box GPUs: (Blur'd out my work server and gateways, this is hosted on a Google Cloud server, which is amazingly cheap at less than $1 a month. )

View attachment 12253

archer-skynet.jpg
 
SOME options can be incredibly risky, but not all are so bad. a lot of people write covered calls as a consistent income source. but like you said, you need to understand what you are doing.

this is a good thread!

Yea, totally true, but you have to be comfortable with losing your 100 shares if the buyer exercises the option. There's also the fact that the algorithm pricing options takes into account how volatile the stock is, so you don't really make much money on cheap, relatively non-volatile stocks.

Good point, though, on the covered calls.
 
I'm selling off all my rig parts while demand is high and all gpus are out of stock. The key to profits no matter what you are doing, is knowing when to quit.

Sent from my SAMSUNG-SM-G920A using Tapatalk

You cant even find the 470-480 or 570-580 AMD cards in stock in a lot of places right now. I remember a few months back they were on sell for $199 for the 580 now you will never find that price.
 
You cant even find the 470-480 or 570-580 AMD cards in stock in a lot of places right now. I remember a few months back they were on sell for $199 for the 580 now you will never find that price.

Yeah you still can't find them. I am able to ebay them between 240-300... but those greedy ebay fees kill me at 10%. I still have a couple RX 470s, so if anyone is interested I can sell them for $220 Paypal invoice and UPS Ground Shipping via RedGuides if you PM me.

Here was one of my auctions, I am working on getting some shipping boxes for the remaining cards to ensure safe transport.
http://www.ebay.com/itm/182668668961?ssPageName=STRK:MESOX:IT&_trksid=p3984.m1561.l2649
 
Unable to play EQ lately so been spending what little time available to work on building a rig. Managed to get my hands on (6) 580's. Cant wait to put it together.
 
Unable to play EQ lately so been spending what little time available to work on building a rig. Managed to get my hands on (6) 580's. Cant wait to put it together.

You poor soul, the market has gone to complete shit. Difficulty bomb went off on Ethereum and add the influx of new miners = Went from making $4 a card to $1 a card. Sell those cards ASAP before aftermarket prices go to shit. As soon as stock returns all 400/500 series RX cards will be worthless ($60-$100 each). I'm almost done reselling all my cards and am lucky to get such a great bang for the buck. Its not too late, but I'd make it a point to try and get rid of all of them before July is over. Once August hits and stocks normalize, its going to be a rough go for miners and resell of GPUs.
 
You poor soul, the market has gone to complete shit. Difficulty bomb went off on Ethereum and add the influx of new miners = Went from making $4 a card to $1 a card. Sell those cards ASAP before aftermarket prices go to shit. As soon as stock returns all 400/500 series RX cards will be worthless ($60-$100 each). I'm almost done reselling all my cards and am lucky to get such a great bang for the buck. Its not too late, but I'd make it a point to try and get rid of all of them before July is over. Once August hits and stocks normalize, its going to be a rough go for miners and resell of GPUs.

I appreciate the advice, but I'm going to stick it out. If not running for ETH we'll run another currency. IMO the investments made and those of us involved talked about it, these types of currencies aren't going to disappear.

If you have 580's to sell, PM me.
 
I appreciate the advice, but I'm going to stick it out. If not running for ETH we'll run another currency. IMO the investments made and those of us involved talked about it, these types of currencies aren't going to disappear.

If you have 580's to sell, PM me.

ETH is a goner, Difficulty bomb hit w/ more miners = profits are gone and will stay gone. RX 580s are pretty much a one trick pony for crypto, they are only good at ETH, the rest of the hashrates are far below Nvidia. If you are dead set on mining, buy Nvidia 1060/1070, they can mine several algorithms well. Zcash and LBRY being the main algos you pickup with Nvidia. Once everyone figures out how bad ETHash is they will jump ship and with no where to run UBQ/ETC can't absorb the extra miners. Again, this will not be profitable... The ROI @ 250 a card is about a year right now and that does NOT factor in difficulty. If you want to MAKE money then just sell everything off and buy the coin directly while everything is extremely low and watch the profits roll in.

Personally, I'm selling everything off and investing in LTC, but honestly with everything so low right now pick the crypto coin that you like and you will turn a good profit. I love mining, but I love money more. I'm keeping the bones(MB/Mem/PSU) from one rig with risers and selling off all my GPUS. If it ever does come back i'll pickup the new cards, but I think its going to be down in the dump for a good 6+ months at least.
 
Hey about to drop a few hundred bucks on some currency, any pointers? I am looking for good growth on some that I plan to keep for a long time. Retirement kinda longtime. So if you know of any that are set to explode on the 28th like they claim and that will be around please let me know I figure on buying 8-10 currencies and sitting on them.

If it is super secret feel free to PM me....

To be clear I do not want to mine, I want to just invest in a few cryptos and sit on them...
 
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Which complex tax returns are you referring to?


With that said, if you're smart about individual stock investing (by "smart" I mean read some books and understand tax implications and basic strategies) you can make some money. You also need to set rules for yourself, and be EXTREMELY disciplined about maintaining those rules. Greed will KILL you. You need to be heartless about it. An example of that is setting a percentage goal that you want to make for a particular stock. You think Apple will make 10% this year, so you invest in Apple. Should Apple hit the 10% goal, you sell (if you're looking to avoid certain tax situations, another criteria may be you have to have held it for a year).

And options trading.......... jesus... lol... you can make a SHITLOAD of money, but you can also loose your shirt faster than you can hit the enter key on the transaction. Make sure you know what you're doing and how to offset potential loses. Hedging is king with options.



QFT. You gotta be really disciplined. The only downside to options trading is the taxes, I'm paying a lot of taxes since these are short term investments, but the gain is still huge if you play your cards right.
 
QFT. You gotta be really disciplined. The only downside to options trading is the taxes, I'm paying a lot of taxes since these are short term investments, but the gain is still huge if you play your cards right.

Not sure I'd say the ONLY downside is taxes, but they certainly hurt. My issue with options trading is I've done well evaluating which way a stock would turn and by how much, but I overestimated how fast it would hit my price. In one case, the difference between a nice payday and nothing was about two weeks (fucking Deutsche Bank).
 
Hey about to drop a few hundred bucks on some currency, any pointers? I am looking for good growth on some that I plan to keep for a long time. Retirement kinda longtime. So if you know of any that are set to explode on the 28th like they claim and that will be around please let me know I figure on buying 8-10 currencies and sitting on them.

If it is super secret feel free to PM me....

To be clear I do not want to mine, I want to just invest in a few cryptos and sit on them...

Litecoin is where I'm betting. I believe it in so much, that I have sold off all my crypto and put it all into it. Its a bit silly to not diversify, but at this stage in the game... I don't care I like the currency and moving money and making transactions is easiest on it. So screw it, I'm going 100% LTC from holding about 10 different currencies.

A wise play would be to spread it out a bit.
25% BTC
25% LTC
25% ETH
Then divy the rest up amount up and comers like Golem, Augur, Dash, Dogecoin, Decred, etc...

But like I said, I've been crypto long enough to know there really isn't a "safe" play in crypto. So might as well go balls to the wall with what you believe in.
 
Not sure I'd say the ONLY downside is taxes, but they certainly hurt. My issue with options trading is I've done well evaluating which way a stock would turn and by how much, but I overestimated how fast it would hit my price. In one case, the difference between a nice payday and nothing was about two weeks (fucking Deutsche Bank).

Just want to say... margin trading in Crypto is incredibly risky and stupid imo. I've seen people wiped out by a 50% swing when a whale dumps to clean out the magin traders, then pick up the coin on the backside cheap. Short story, Don't ever do margin trades, you will get screwed. Just a public service annoucement for those thinking about doing this. It isn't like the stock market that IS regulated. This is the wild west and the big fish will eat the little fish.
 
Tech - Etherium

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