Post: #26

Do you guys have tiered pricing for electricity in Oz? Like for example the price electricity cost goes up 50% or whatever after a certain threshold?

I don't plan on getting into mining but for some reason find it surprisingly interesting.

I guess if you lived in a colder climate you could easily just bring in outside air to cool the your mining room, I also remember seeing some article about a guy heating his whole house just with the heat generated by mining.

Post: #27

I am trying to put together my first rig, but the video cars shortage is ridiculous. Currently I am waiting to catch some good deals, not happy.

Post: #28

I hear you Glaucon. I was planning on buying 6x Vega rig but realised nobody had them for sale except at punitive prices 3-4x the retail price. I found that alibaba has good prices but you need to order in bulk to get the better deals. By buying in bulk you get better deal but you will still get shafted by import taxes. Can't catch a break. This why miners keep their mining operation in China, no import tax and electricity is cheap af from what I've heard.

Post: #29

(02-23-2018 08:50 AM)[email protected] Wrote:  I hear you Glaucon. I was planning on buying 6x Vega rig but realised nobody had them for sale except at punitive prices 3-4x the retail price. I found that alibaba has good prices but you need to order in bulk to get the better deals. By buying in bulk you get better deal but you will still get shafted by import taxes. Can't catch a break. This why miners keep their mining operation in China, no import tax and electricity is cheap af from what I've heard.

Yeah. I am hoping that the current stagnating crypto prices and the VGA shortage flush out those who are not in this in the long run.

6xVega rig? I can not even find basic gtx 1060s for good price I gave up for now finding 1070s for the next few months...

Crazy times. I have a bit of a tulip mania feeling tho.

Post: #30

I've got an old computer here with a decent gfx card. Just booted it up and it still works. How can I find out which coin I should mine for the best return? As painlessly as possible.

Post: #31

Go to whattomine.com.

It doesn't feature a full range of coins, but it will at least give you an idea of which algorithm is most profitable for your card. Once you know that, you can look into finding new, low difficulty coins using that algorithm that might pump in future.

For example I have an AMD card which does best with cryptonote algorithm (ie monero), but since it's only the one card, I'd be waiting forever for a payout at moneros difficulty level. So I found a coin which was in ICO stage called Graft that uses the same algorithm, and have been mining that for the last few weeks. If it stays at ICO price when it hits exchanges, It will be at least twice as profitable as if I had mined monero over the same time period.

Post: #32

(02-23-2018 09:53 AM)Glaucon Wrote:  

(02-23-2018 08:50 AM)[email protected] Wrote:  I hear you Glaucon. I was planning on buying 6x Vega rig but realised nobody had them for sale except at punitive prices 3-4x the retail price. I found that alibaba has good prices but you need to order in bulk to get the better deals. By buying in bulk you get better deal but you will still get shafted by import taxes. Can't catch a break. This why miners keep their mining operation in China, no import tax and electricity is cheap af from what I've heard.

Yeah. I am hoping that the current stagnating crypto prices and the VGA shortage flush out those who are not in this in the long run.

6xVega rig? I can not even find basic gtx 1060s for good price I gave up for now finding 1070s for the next few months...

Crazy times. I have a bit of a tulip mania feeling tho.

It seems to be getting worse too. I bought a 1060 6GB just after christmas at $320 - I look now and see the same card on the same website for $500. It's not as if cards weren't in short supply at christmas time either.

Post: #33

(03-01-2018 08:23 PM)king bast Wrote:  

(02-23-2018 09:53 AM)Glaucon Wrote:  

(02-23-2018 08:50 AM)[email protected] Wrote:  I hear you Glaucon. I was planning on buying 6x Vega rig but realised nobody had them for sale except at punitive prices 3-4x the retail price. I found that alibaba has good prices but you need to order in bulk to get the better deals. By buying in bulk you get better deal but you will still get shafted by import taxes. Can't catch a break. This why miners keep their mining operation in China, no import tax and electricity is cheap af from what I've heard.

Yeah. I am hoping that the current stagnating crypto prices and the VGA shortage flush out those who are not in this in the long run.

6xVega rig? I can not even find basic gtx 1060s for good price I gave up for now finding 1070s for the next few months...

Crazy times. I have a bit of a tulip mania feeling tho.

It seems to be getting worse too. I bought a 1060 6GB just after christmas at $320 - I look now and see the same card on the same website for $500. It's not as if cards weren't in short supply at christmas time either.

Yeah... The only card that is not that overpriced is the 1050 ti...yet

I have seens rx 570 580's for decent price, it is sad AMD cards are only good for Ethash basically. Nvidia cards are much more usable.
I hope AMD next gen cards will be better.

Post: #34

(03-01-2018 08:21 PM)king bast Wrote:  Go to whattomine.com.

It doesn't feature a full range of coins, but it will at least give you an idea of which algorithm is most profitable for your card. Once you know that, you can look into finding new, low difficulty coins using that algorithm that might pump in future.

For example I have an AMD card which does best with cryptonote algorithm (ie monero), but since it's only the one card, I'd be waiting forever for a payout at moneros difficulty level. So I found a coin which was in ICO stage called Graft that uses the same algorithm, and have been mining that for the last few weeks. If it stays at ICO price when it hits exchanges, It will be at least twice as profitable as if I had mined monero over the same time period.

What if your card isn't on whattomine? They don't seem to have many listed there.

Post: #35

The easiest way to do it would be to download nicehash miner and let it run the benchmarks.

https://www.nicehash.com/

This will determine which is the most profitable algorithm for your card, and from there you can either continue mining on nicehash, which converts your payments to BTC, or set up your own wallets and miners and mine your choice of coins, for yourself.

Post: #36

I'm using Linux and Nicehash doesn't work on it. For ease sake I think I'll just go with Eth.

Post: #37

anybody tried AMD threadripper CPU for mining?

Post: #38

Is there anyway to find the addresses of existing bitcoin mining operations? I'm looking to price out electricity rates right now, then build the site, but that is the inverted way of usually going about this.

Energy companies are hesitant to give me accurate rates without being able to analyze an existing building to give a proxy quote. Anyone know any mining company addresses (where energy is cheap) that I cite? I can move anywhere in the country for this.

Post: #39

Venezuela , electricity is real cheap but there
Are a few snags though ......

Post: #40

In the last week I've switched off the miner and sold it off as parts. With fiat value of crypto falling through the floor and GPU prices remaining sky high, it was barely covering power costs, so I felt the time was right to make my run for the exit. I managed to sell the GPU's for the same as what I paid for them, and put most of the proceeds into building a brand new gaming computer.

I've got a nice new computer and a few thousand dollars worth (soon to be zero dollars worth if trends continue) of crypto out of the exercise, so it was profitable while it lasted. I predict a glut of GPU's in a few months time as manufacturers ramped up production to cope with the demand...demand which will have tapered off considerably by the time they get to the market, so we should see prices come back down to a reasonable level. Then if a bull market returns, it could be worth getting into again, but I can't see it being profitable for several months at least.

Post: #41

I have a new laptop that i dont use, assuming i can set it up in a place where i dont pay electricity would it be worth mining on it?

Post: #42

No.

It might make some money, but it's unlikely to make enough to replace itself before mining kills it.

Post: #43

Using this guide as a basic to research a little more, yes, unless you create a dedicated mining rig or use ASIC (more than one at least), looks like mining its not so profitable, even less with a common PC or Laptop. An alternative is Javascript mining, but you need a webpage with some traffic to make money from it.

Post: #44

With the release of the GTX 11 series expect GPUs to tumble down in price. I might get a GTX 1180 when it comes out in Australia. It'll probably cost around 1400 a pop here. I imagine it'll still pay for itself within a year. In other countries where electricity is under 5¢ per kWh itwould be profitable it to get a bunch of cheap 1070/1080s and run a small operation.