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MaxxBot posted:Wow profits are actually trending in the positive direction today! Yes I WILL pay for the extra guac, peasant! Now hand me my burrito!
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Jul 12, 2017 20:32
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this guy did this live on TV 
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Jul 12, 2017 21:07
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 ed: lol http://imgur.com/a/iFhTy https://blockchain.info/address/1GwtZF9QFKWNqCRHLx1Y9adGcrhQSUnNfY
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Jul 12, 2017 21:13
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people dont realize that a haircut is part of the suit and look like that
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Jul 12, 2017 21:26
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wow, Michael Cera got fat
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Jul 12, 2017 21:27
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rx 580 8gb are still successfully selling for 400 on ebay. No crash yet.
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Jul 13, 2017 05:39
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I went to get a GPU burrito today and they told me my card only has $0.60 left when really it has $25 
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Jul 13, 2017 06:10
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im back up to 5.25 a day on a 1080ti. Did everyone quitting actually help the "true believers" who stayed?
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Jul 13, 2017 06:38
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Fauxtool posted:im back up to 5.25 a day on a 1080ti. Did everyone quitting actually help the "true believers" who stayed? I just spiked up to 5.50 on my 1080ti after hitting like 3.70 or so all day. BTC hasn't shifted enough to account for that so  I guess.I set up the NiceHash Miner Legacy official fork thing today and dialed in the dcri for dual mining and now ETH+Decred actually competes with ewbf equihash sometimes which is neat. Edit: I guess zcash and BTC are both looking up currently, with zcash difficulty hitting a 1 week low. Probably for like the next hour or something, but I'm not complaining about seeing $6.18/day at the bottom of that window. Edit 2: Hour or whatever later, full circle, down to $3.90. The lesson is just to not pay much attention to it. Fruit Chewy fucked around with this message at 08:22 on Jul 13, 2017 |
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Jul 13, 2017 06:41
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Fauxtool posted:rx 580 8gb are still successfully selling for 400 on ebay. No crash yet. I saw cards going for randomly cheap prices from some sellers last week that are +$200 across board now
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Jul 13, 2017 12:15
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Yea my 1080ti has been ping ponging all around. Once I drop to below $3 a day consistently I'll just stop for the time being.
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Jul 13, 2017 14:15
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So I had a thought on the toilet just now. Cryptocurrency can only work if the amount of coins generated is equal to the amount of resources (power, hardware manufacturing) burned to keep the blockchain running. If you get more coins than you spend money running your setup, more people will start mining until the rewards drop down to equality again. Therefore, to keep the system running, you have to basically constantly waste resources equal to the economic growth. So an economy based on cryptocurrencies will always have a net 0% growth.
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Jul 13, 2017 14:39
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Otherwise correct, except that earning $ from buttmining isn't economic growth.
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Jul 13, 2017 14:52
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Herman Merman posted:Otherwise correct, except that earning $ from buttmining isn't economic growth. Keynes' famous example was burying bottles of money and letting private enterprise dig them up, which is basically the same thing conceptually as mining. You can view the whole scheme as a form of stimulus from the "government" of the coin, as encoded in the rules the client follows regarding generation and distribution of currency. Some people believe that government spending inherently displaces private spending in all cases, which probably isn't true, especially when a currency is just being issued and "the government" owns 100% of the money supply.
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Jul 13, 2017 16:05
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That buy bitcoin guy is holding 5 BTC for his on air stunt
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Jul 13, 2017 16:09
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peak debt posted:So I had a thought on the toilet just now. yeah, the cost of mining 1 ETH will quickly converge on 1 ETH and continue to circle it, which is why June 2017 being Mining Month was basically a temporarily anomaly that would go away next difficulty adjustment, and did peak debt posted:Therefore, to keep the system running, you have to basically constantly waste resources equal to the economic growth. So an economy based on cryptocurrencies will always have a net 0% growth. plausible - cryptocurrency economics is basically stupid and broken because it was conceived not just by goldbugs, but by arrogant technically able goldbugs, who were convinced being able to code meant they knew everything about your namby pamby "soft" fields like economics. So expect to find all sorts of obviously dumb consequences of the way things are set up, because it's fractally wrong.
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Jul 13, 2017 16:37
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I bought about 5 RX 580s from Newegg in the past week or so. Should I just them sell all and just wait for the massive amount of used cards that will be available? I could also sell 4. Use one to mine/play games. It kind of sucks I don't have a video card right now either. Sold my 390x awhile ago. Whats the smart thing to do goons?
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Jul 13, 2017 17:56
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Green Gloves posted:Whats the smart thing to do goons? not buying RX580s in the past week or so
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Jul 13, 2017 17:59
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eames posted:not buying RX580s in the past week or so I already sold two of them for about $60-80 profit each. Just got to do something with the rest of them.
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Jul 13, 2017 18:05
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I mean thats a solid $20 a day at the lows we've been seeing isnt it... If the profit is $80 each you have a tough call to make. Tbh id probably sell them pocket the $300 and reevaluate what to do with the break even money
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Jul 13, 2017 18:28
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1gnoirents posted:I mean thats a solid $20 a day at the lows we've been seeing isnt it... If the profit is $80 each you have a tough call to make. Tbh id probably sell them pocket the $300 and reevaluate what to do with the break even money I dont have a rig that can run more than one card anyway.
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Jul 13, 2017 18:40
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If only id bought another couple of fe 1080tis when they were £550
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Jul 13, 2017 18:41
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Why did you buy so many cards without risers or multi pci-e 16x slot motherboards? Try to sell them, otherwise return them back to newegg (if they let you)
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Jul 13, 2017 18:43
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If you're trying to flip cards, or god forbid bought hardware for mining, you should be selling them as fast as possible right now.
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Jul 13, 2017 18:46
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Don't listen to the people telling you to sell, they're just trying to protect their $2 a day profit.
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Jul 13, 2017 23:50
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Green Gloves posted:I dont have a rig that can run more than one card anyway. Oh lordy then sell asap lol
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Jul 14, 2017 00:23
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1gnoirents posted:Oh lordy then sell asap lol Just put the rest of them on Ebay. I am kind of fortunate that Newegg canceled my latest order. So I only have to sell two more cards. Auction ends tomorrow so I should profit a little bit.
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Jul 14, 2017 01:08
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Just wait until he figures out that ebay is gonna take 13% and shipping is another $20.
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Jul 14, 2017 01:43
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Fruit Chewy posted:Just wait until he figures out that ebay is gonna take 13% and shipping is another $20. -$4.75/hour of Pure Profit!
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Jul 14, 2017 01:45
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Green Gloves posted:I bought about 5 RX 580s from Newegg in the past week or so. 
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Jul 14, 2017 02:09
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Spatial posted:Why did you do that? its not too late to sell them, idiots are still buying them $150 over retail. Still way too much of a risk considering the bottom is ready to fall out any second
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Jul 14, 2017 02:11
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The clock on my auction's satisfaction guarantee runs out on the 20th, so if we could stall rock bottom for a week I'd appreciate that.
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Jul 14, 2017 03:20
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Spatial posted:Why did you do that? Same reason anyone buys mining equipment or cryptocurrency: Speculation!
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Jul 14, 2017 03:22
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Prices have completely gone to poo poo now, guess that's the end of that.
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Jul 16, 2017 10:47
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I am so happy that I was able to sell my GTX 1070 for the price I paid for a year ago when Pascal first came out due to mining.
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Jul 16, 2017 11:59
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I moved onto ETC/PASC mining, getting paid tomorrow from nicehash and gonna cash that out before the bitcoin issue
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Jul 16, 2017 18:57
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"I spent $4000 on mining parts a month ago and i still have not gotten them. Parts are out of stock. Thinking of canceling my order. Anyone else in this situation?"
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Jul 17, 2017 02:30
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Don Lapre posted:"I spent $4000 on mining parts a month ago and i still have not gotten them. Parts are out of stock. Thinking of canceling my order. Anyone else in this situation?" i paid a $1000 expedite fee and i got my stuff hth
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Jul 17, 2017 02:45
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FOR SALE: 10 x l33tz0r GRAPHICS CARDS ONLY USED BY LITTLE OLD LADY TO PLAY CANDY CRUSH BEFORE CHURCH ON SUNDAYS TOTALLY NOT USED FOR MINING HONEST TOTALLY HASN'T HAD A WARRANTY-VOIDING BIOS FLASH TOTALLY HASN'T HAD ITS MEMORY OVERCLOCKED TO HELL IGNORE THE SLIGHT CHARRING AND SMOKE DAMAGE THIS CARD WILL BE FINE REALLY IT WILL MINERS TREAT THEIR HARDWARE WELL YOU KNOW NOT THAT I'M A MINER PLEASE PAY IN US DOLLARS, BTC AND ETH NOT ACCEPTED
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Jul 17, 2017 12:38
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| # ? May 15, 2024 20:12 |
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Jesus it just happened to me. I was sitting here pondering what to do about my mining pc. Outside of the GPU, its paid itself off already. The 1080 in it was a used card I had in my main PC which cost me exactly $400. Now, resale of that today would let me break even on that card + maybe $50 or so all said and done. Considering I used it for 5 months, thats a big win overall, and the plan always ways to get a 1080ti and sell off the 1080 anyway and this would put me firmly on top of everything. Mining is "crashing" relative to the craze it was and I don't see it returning to that which would affect near term resale prices probably, but my biggest concern are the Volta rumors in September. Even discounting any kind of over supplied used market thats going to rear end blast its value. So the intelligent thing would be to cut and run. There is no way around it. But I dont want to... im sitting here doing math months out in advance speculating at $2 a day, $1.50 a day, $1.00 a day, how long would it be before I make enough money to justify not selling today (its a lot of days). But I think I'm gonna do just that. I'm a slave to this now. Tell my family I gave it my best try but I have succumbed to the buttcoin
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Jul 17, 2017 16:37
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