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If i had picked all the right lottery numbers id be a millionare!
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Aug 16, 2017 18:52
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Don Lapre posted:If i had picked all the right lottery numbers id be a millionare! One simple trick
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Aug 16, 2017 19:05
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Now that my 290 (bought used 2 years ago) has a noisy, grinding fan, I wish I had sold it at the peak and snagged one of those $430 1080s. Instead I stayed the course and chased burrito money, and now I hear there's no chance of Volta until next year. Thread title was right all along.
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Aug 16, 2017 19:40
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Fauxtool posted:It's been pretty well discussed that none of the exchanges back then are still up so you couldn't really have any old Bitcoin unless it was on a private wallet. Mining them yourself to a private wallet is the only realistic way it could happen Though why you'd have long-term Bitcoin not in a private wallet I don't understand. It's so easy and then you don't have to worry about a high profile target exchange being hacked or shutting down or stealing everything. If you do a lot with your Bitcoin I can see keeping some in an online wallet for convenience, but just leaving it all there has always seemed like a silly decision.
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Aug 16, 2017 20:29
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McPimpenheimer posted:Now that my 290 (bought used 2 years ago) has a noisy, grinding fan, I wish I had sold it at the peak and snagged one of those $430 1080s. Instead I stayed the course and chased burrito money, and now I hear there's no chance of Volta until next year. Depending on what it is you are very likely to be able to buy GPU fans for it. If its the standard 3 star screw pattern that is. I usually see them for $10-$20 a pair though I couldnt tell you what is garbage or not.
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Aug 16, 2017 20:32
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Use paper wallets people, or invest in GBTC
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Aug 16, 2017 20:42
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wolrah posted:Though why you'd have long-term Bitcoin not in a private wallet I don't understand. It's so easy and then you don't have to worry about a high profile target exchange being hacked or shutting down or stealing everything. using private wallets just shifts the responsibility of security onto the user's shoulders though, and the average bitcoin user is woefully ill-prepared for that responsibility if /r/bitcoin is any indicator; for those individuals an exchange is far more secure for instance several popular brain wallets initialized to the same random seed every time that a new wallet was created, so all of the people using those wallets lost everything. And other wallets turned out to be waiting for a large enough whale to use them before sending everything to the developer's address
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Aug 16, 2017 22:45
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QuarkJets posted:And other wallets turned out to be waiting for a large enough whale to use them before sending everything to the developer's address that is basically bitcoin. The "smart" people are just waiting for a sucker to cheat and steal
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Aug 16, 2017 23:03
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what's with this selling hash rate stuff? is there actually someone out there buying this abstraction or are the people who run it just taking all the hash power into their pool and skiming off a bunch of effortless gains why come there's no goon mining pool?
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Aug 17, 2017 00:36
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If every goon turned all their personal machines to a combined mining pool, it wouldn't mine a single block
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Aug 17, 2017 00:49
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Computer Serf posted:what's with this selling hash rate stuff? if you're talking about nicehash, you run a program that mines various low-difficulty altcoins that other people want to buy; the program pays you in bitcoins for doing this yes there are people willing to buy mining time for miscellaneous altcoins, for speculation, and the person running this thing skims some percentage off the top because for your group to be effective at mining you need more mining power than what goons alone could provide
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Aug 17, 2017 00:50
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what'da ya all thinks gonna happen when ETH goes PoS
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Aug 17, 2017 01:48
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Computer Serf posted:what'da ya all thinks gonna happen when ETH goes PoS the people that have invested money into mining hardware will fork and the PoS ETH will wither into irrelevance Or they will all switch to a coin that can still be mined and ETH will also tank in value
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Aug 17, 2017 01:50
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Computer Serf posted:what'da ya all thinks gonna happen when ETH goes PoS 1. It won't work properly, for both theoretical and practical reasons. 2. Miners will look into ETC. 3. Crypto speculators won't even notice.
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Aug 17, 2017 02:08
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wolrah posted:Though why you'd have long-term Bitcoin not in a private wallet I don't understand. It's so easy and then you don't have to worry about a high profile target exchange being hacked or shutting down or stealing everything.
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Aug 17, 2017 02:22
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Gobbeldygook posted:In addition to what QuarkJets said, bitcoins in private wallets could also be lost through user error. A hard drive fails or is stolen. Their wallet requires a password for security reasons and they don't use it for so long that they forget it. A bunch of people lost all their BTC because they downloaded a pirated version of Fallout 4 that contained a virus that stole their private keys.  Yeah, there's so many lost bits coin in landfills. Really warms my heart. I just hope the crash doesn't come before the payout on the 22nd, I've got Anyone else get the "Enjoy Sochi" spam last month? Was it the old unconfirmed transaction from 2014 or did they pull that stunt again? E: Damnit gyft let me cash out of this stupid poo poo I'm done now. Harik fucked around with this message at 21:55 on Aug 18, 2017 |
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Aug 18, 2017 03:54
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About a week and a half ago I was getting 0.0012 BTC on average with my rig, now I've only been getting 0.001 on average...and it dropped about 0.0005 at its lowest! Is this Vega kicking in or do I need to boost my difficulty?
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Aug 20, 2017 17:53
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You don't set difficulty yourself, and it wouldn't help anything if you could. Also, Vega is almost certainly poo poo for mining and nobody has one yet anyway. Are you pool mining or Nicehash or what?
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Aug 20, 2017 18:16
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Dr. Fishopolis posted:You don't set difficulty yourself, and it wouldn't help anything if you could. Also, Vega is almost certainly poo poo for mining and nobody has one yet anyway. Are you pool mining or Nicehash or what? Nicehash still, but from what I heard Vega is supposed to kick rear end at mining algorithms, so I don't know if some early guys are already testing it out.
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Aug 20, 2017 18:19
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Junior Jr. posted:Nicehash still, but from what I heard Vega is supposed to kick rear end at mining algorithms, so I don't know if some early guys are already testing it out. Unless there's some magic Fine Wine (tm) buttcoin drivers we don't know about yet, Vega is a complete mining joke in terms of hash/W (even with the current supposedly mining-optimized official drivers) versus GTX 1070 or Polaris, nevermind the pricing and supply hilarity going on. This uarch is a massive failure in every way possible from release date, gaming, mining, power draw, BoM and actual retail price with a sole consolation of Freesync support. Palladium fucked around with this message at 18:51 on Aug 20, 2017 |
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Aug 20, 2017 18:44
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Remember, with Nicehash you're selling hash power to buyers. Profit will always be tied to the price of GPU mineable altcoins and therefore the demand for hashrate. When BTC price is climbing, this tends to go up, when it's stable or down, it tends to go down. If you're concerned about it, you could try and educate yourself about all of this, but the point of Nicehash is pretty much to let it sit there and give you money without having to pay much attention. So you should probably just let it sit there and give you money until it doesn't. If you actually invested in GPUs to mine with and haven't recouped those costs yet, you should either do a lot more reading or sell them right now while the prices are still inflated.
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Aug 20, 2017 19:01
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Dr. Fishopolis posted:Remember, with Nicehash you're selling hash power to buyers. Profit will always be tied to the price of GPU mineable altcoins and therefore the demand for hashrate. When BTC price is climbing, this tends to go up, when it's stable or down, it tends to go down. If you're concerned about it, you could try and educate yourself about all of this, but the point of Nicehash is pretty much to let it sit there and give you money without having to pay much attention. So you should probably just let it sit there and give you money until it doesn't. I wish this fit as the thread title.
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Aug 20, 2017 20:16
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Is Nicehash actually profitable for people who are buying mining power?
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Aug 21, 2017 06:01
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JailTrump posted:Is Nicehash actually profitable for people who are buying mining power? look into your heart and know the answer
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Aug 21, 2017 07:31
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So my hash power's been getting low today, so I thought maybe I might reset it and get it slightly back up again...and then THIS happened.  That just came out of nowhere before going back down to normal...what the gently caress is going on with nicehash?
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Aug 21, 2017 08:50
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Junior Jr. posted:So my hash power's been getting low today, so I thought maybe I might reset it and get it slightly back up again...and then THIS happened. Thats happened to me a few times. I can only imagine its an error or somebody accidentally paid 10 times more than they meant to for some hashing power lol
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Aug 21, 2017 15:09
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I'd be willing to bet its an instantaneous, divide by less-than-one thing, though i dont care enough to guess at what exactly it was
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Aug 21, 2017 15:32
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HOLY gently caress! JUST found out Monero's price has boosted to 40 percent, last time I checked right now...it's $83 per XMR on CoinMarketCap.
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Aug 21, 2017 15:53
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Junior Jr. posted:
Did you read my post?
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Aug 21, 2017 18:54
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JailTrump posted:Is Nicehash actually profitable for people who are buying mining power? Not in any reasonable quantity. I'm sure someone's making money or else it would have collapsed by now, but hell if I can figure out a path to profit, especially compared to just buying the coins in the first place.
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Aug 21, 2017 18:56
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Junior Jr. posted:HOLY gently caress! JUST found out Monero's price has boosted to 40 percent, last time I checked right now...it's $83 per XMR on CoinMarketCap. I think it's vastly undervalued even at that price. Bitcoin sounds great until people start to figure out that anyone you send money to can see your whole wallet balance and can trace your transactions back to other wallets you own. I think public blockchains are cool but not for an everyday, cash replacement currency. Monero solves a lot of problems and has cool devs, I hope it goes places. I also hope someone writes a decent wallet for it because the official one sucks dog balls. Anyway, it blew up because it's finally traded on Bithumb. It'll probably settle down in a couple days.
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Aug 21, 2017 19:03
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Dr. Fishopolis posted:Not in any reasonable quantity. I'm sure someone's making money or else it would have collapsed by now, but hell if I can figure out a path to profit, especially compared to just buying the coins in the first place. Rich Chinese businessmen have been using cryptocurrency and Western gullibility to convert Yuan to USD and other hard currencies (via bitcoin) for years. Bitcoins are primarily mined in China these days, but selling bitcoin suppresses the price so now more liquid altcoins are traded and sold instead. Money laundering probably still has a big impact as well, despite btc-e closing. Dirty money buys bitcoins, bitcoins buy altcoin mining power so as to not suppress the price of bitcoin, altcoins are sold for clean money.
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Aug 21, 2017 22:04
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Cryptocurrency is basically the modern mob owned cash business, and this thread is TCC
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Aug 21, 2017 22:12
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QuarkJets posted:Rich Chinese businessmen have been using cryptocurrency and Western gullibility to convert Yuan to USD and other hard currencies (via bitcoin) for years. Bitcoins are primarily mined in China these days, but selling bitcoin suppresses the price so now more liquid altcoins are traded and sold instead. Goddamnit. I was mining for the mob? I mean, anything crypto-related is obviously criminal, but it's usually not so direct.
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Aug 21, 2017 22:15
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Keep in mind Beijing has been putting hard limits on how much money rich people on the mainland can leave with, and the limits are often set lower than they want. This crimps their ability to gamble millions of dollars as whales in Macau. The Chinese government already put a big crackdown on "junket operators" who were essentially behaving as middlemen, allowing Chinese millionaires/billionaires to go to Macau and Vegas (where this was a big deal in the local papers a couple years ago.) I assume buying and selling altcoins is a workaround they're using now. Because in spite of everything, the high-limit Baccarat wealthy Asian tourists favor is still the biggest driver of Vegas casino profits according to their reports to the Nevada authorities.
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Aug 21, 2017 22:37
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This extremely rich Chinese kid I know lost a million dollars gambling on stock options. His dad barely bat an eye.
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Aug 21, 2017 23:07
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Kazinsal posted:Cryptocurrency is basically the modern mob owned cash business, and this thread is TCC You know how many daytraders are getting into it now? TBH I think there's a lot of money to be made introducing daytraders to it and not ever even having to touch the stuff.
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Aug 22, 2017 00:28
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Craptacular! posted:Keep in mind Beijing has been putting hard limits on how much money rich people on the mainland can leave with, and the limits are often set lower than they want. This crimps their ability to gamble millions of dollars as whales in Macau. The Chinese government already put a big crackdown on "junket operators" who were essentially behaving as middlemen, allowing Chinese millionaires/billionaires to go to Macau and Vegas (where this was a big deal in the local papers a couple years ago.) Mining is mostly done in China and can be thought of as "purchasing" bitcoins. From there you sell them on an exchange or use them to buy altcoins (such as via nicehash, which since you are buying mining time helps to further obfuscate the money trail).
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Aug 22, 2017 00:49
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Well that's what Satoshi nakamots vision was, you can be your own bank, and unfortunately some criminal elements are going to take advantage of this but overall, the mafia using Bitcoin is actually good for bitcoin
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Aug 22, 2017 02:45
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QuarkJets posted:Mining is mostly done in China and can be thought of as "purchasing" bitcoins. From there you sell them on an exchange or use them to buy altcoins (such as via nicehash, which since you are buying mining time helps to further obfuscate the money trail). I'd just assume you buy Virtual Bullshit Dollars with Chinese money while you're in China, go to Macau/Vegas/Singapore/whatever, and once there you sell your Virtual Bullshit Dollars for the local currency. Boom, you just moved a million dollars out of China and into the US without PRC authorities being able to trace it.
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Aug 22, 2017 02:52
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