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Cashing out now and buying in later is probably the right move if you believe in bitcion's long-term value (lol), but there's no way to predict the peak. Every day that you hold bitcoin is a gamble
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Nov 22, 2017 04:15
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China's banning of the exchanges apparently didn't affect the market. If tether and Buttfinex collapse, that just makes bitcoins more rare!! Especially if they were insolvent this whole time merely shuffling deposits in some shell game. Really though, the markets are insane and you'd think technical limitations, or hundreds of alternative iterations with better features might drive more dynamic market behavior but when I'm hearing random idiots on the street try to describe to their friends why bitscoin is a groundbreaking technological innovation that will rival global finance institutions and all you need to do is get some and sit on it... I wonder what it will take, to actually crash the bubble.
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Nov 22, 2017 05:11
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Computer Serf posted:when I'm hearing random idiots on the street try to describe to their friends why bitscoin is a groundbreaking technological innovation that will rival global finance institutions and all you need to do is get some and sit on it... I wonder what it will take, to actually crash the bubble. quote:Joseph P. Kennedy, the multimillionaire father of Sen. Edward Kennedy and the late President John F. Kennedy, pulled out of the stock market shortly before it crashed. Why? Because his shoeshine boy was giving him stock tips. Paul MaudDib fucked around with this message at 05:21 on Nov 22, 2017 |
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Nov 22, 2017 05:16
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Computer Serf posted:China's banning of the exchanges apparently didn't affect the market. that the Chinese exchanges were promptly removed from most places' weighted averages they called the "price" two months before they stopped trading, thus meaning the expected price correction signal was cut off before anyone could see it, is totally not a transparent market manipulation and is actually good news for bitcoin,
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Nov 22, 2017 12:02
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divabot posted:that the Chinese exchanges were promptly removed from most places' weighted averages they called the "price" two months before they stopped trading, thus meaning the expected price correction signal was cut off before anyone could see it, is totally not a transparent market manipulation and is actually good news for bitcoin, presumably the supply would be "dumped" back onto the market but that didn't happen immediately or rapidly enough to plow through the existing exchanges. the shoe shine boy thing only makes sense partially, mass adoption is a reasonable goal and because really cryptoledger pogs accept the imaginary asset as rival to the paper tokens we're used to using for exchange. i get bitcoin can't handle transaction volume and fees are stupidly prohibitive but the marketing has shifted the goal posts. there's another bucket list of other atrocious design flaws but I'm starting to consider this tire fire database thing might have value in the collective blind faith of the masses. as long as we just keep shoveling coal into this money printing machine things will be good the weird thing to me is there's a few other improved iterations and more to be produced every year so uh.. also i have to wonder where and how the thousands of stolen coins are being dumped and passed off to Computer Serf fucked around with this message at 13:32 on Nov 22, 2017 |
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Nov 22, 2017 13:24
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Paul MaudDib posted:Smoke is beginning to pour out of Bitfinex (particularly due to their Tether scheme), if you are only in it for burritos rather than THE MOON you might want to consider cashing out at this juncture.  except for my Ryzen system. Cashed out at $5500 and $9500 CDN, and now it's >$10k. It could also be $0 now. Better to get your burritos now vs. potentially nothing later. Paul MaudDib posted:The equivalent of a bank run without a FDIC. Bitfinex issued a lot of bearer bonds against BTC without the BTC to back them up, and the bill is coming due. Anti-Fragile indeed 
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Nov 22, 2017 15:20
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I accidentally posted this in the GPU thread but: So I did some monitoring overnight with a kill-a-watt and when my computer is left to its own devices wtih nicehash, it generates 0.5 kWh, which unfortunately means I would not be turning a profit even with a 1080ti. Energy in San Diego is ridiculously expensive at $0.22 per kWh up to 339 kWh and then $0.40 per kWh after that. So at my current rates of mining I would be barely making cents to the dollar and then after I hit the kWh threshold I would be actively losing money. Disappointing. gently caress private power companies.
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Nov 22, 2017 20:02
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As a comparison for you Knifegrabpre:Wattage Desktop (idle) 67 Mining GPU only 1080 230 Mining CPU only 1700@3.9 123 Mining CPUGPU 280
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Nov 22, 2017 20:07
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I put my email into a waitlist for some app and it sent me approximately $2 in ETH to a Coinbase account that I created. How do I convert this ETH internet money into BTC butt money? Do I really need to go ETH > USD > BTC or can I skip the USD part somehow?
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Nov 22, 2017 20:23
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Yeah, that seems high even for a 1080ti. I'm at 440 watts from the wall with 2x 970 + 4790K maxing out  Click for big What's the rest of your system? Your GPU should be pulling ~100 watts less than my pair, so for you to be drawing ~150 watts more from the wall is definitely interesting. I idle at ~100 watts and it fluctuates a fair bit with the CPU at stock clocks but turbo unlocked. CPU only hits 150 watts and holds solid there while doing 153 H/s on Monero Single GPU on its own runs in the 290-300 watt range and dual GPUs on their own go to 400-420 watts while delivering 255 H/s each on Equihash. All that said your electric rates definitely are a challenge, especially with that bump for higher consumption. If your PC is actually pulling 500 watts on average while mining it'd draw ~360kWh per month on its own running 24/7 which would put you over the threshold without even thinking about seasonal cooling costs and your other day-to-day power consumption.
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Nov 22, 2017 20:42
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Boris Galerkin posted:I put my email into a waitlist for some app and it sent me approximately $2 in ETH to a Coinbase account that I created. How do I convert this ETH internet money into BTC butt money? Do I really need to go ETH > USD > BTC or can I skip the USD part somehow? Mine on Nicehash so you don't have to go through different exchanges of currency. I think the only way is to move your ETH into an exchange that allows you to buy btc w/ other coins. I'm not really sure.
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Nov 22, 2017 20:43
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wolrah posted:Yeah, that seems high even for a 1080ti. Keep in mind that a cheap, low efficiency power supply will easily balloon out the power consumption you would expect to see under a high load. While I hope everyone is buying an 80+ gold model or better, some bargain units are lucky to hit 70% efficiency so you can often add another 20-25% energy overhead just being burned as heat due to inefficient rectification. If you are in the cooling season and running AC, add another 50% on to your PC's power cost because that's about what most A/Cs will require to pull the heat out of the air.
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Nov 22, 2017 20:47
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You may also lose out on the efficiency curve of the PSU if you size it wrong as well.
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Nov 22, 2017 20:49
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Pulling 500w from the wall on a single 1080ti machine seems impossible, I just checked the UPS in my network closest where one my of machines lives. The entire closet is pulling ~475-525w with a 1080ti machine, a mostly idle server, my router, switch, modem and wireless AP. If I turn off Nicehash the usage in the closet drops to a very steady 250w which is exactly in line with what a maxed out 1080ti uses.
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Nov 22, 2017 21:25
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Boris Galerkin posted:I put my email into a waitlist for some app and it sent me approximately $2 in ETH to a Coinbase account that I created. How do I convert this ETH internet money into BTC butt money? Do I really need to go ETH > USD > BTC or can I skip the USD part somehow? Bittrex is a Nevada based exchange and seems to be the least shady so far. Kraken might work too. if you use changely or shifty or whatever those services are, they charge higher fees on conversion.
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Nov 22, 2017 22:17
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2 dollars? I don’t think that would even go through, aren’t bitcoins commissions like 5 at least
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Nov 22, 2017 22:42
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I think you are thinking of network/gas fees. I typically use a transaction fee of 0.0001 BTC and it does get processed in about 1-4 hours.
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Nov 22, 2017 22:58
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Risky Bisquick posted:I think you are thinking of network/gas fees. I typically use a transaction fee of 0.0001 BTC and it does get processed in about 1-4 hours. Yes, which is what he'd need to pay to move ethereum from a wallet to an exchange. It looks like right now the average fee for moving ethereum around is about $0.25, but spent in ethereum, and since it's a transaction fee you just have to kind of guess. But then after buying BTC with it yeah you're looking at another several dollars per transaction to get it off of the exchange
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Nov 22, 2017 23:19
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Cinara posted:Pulling 500w from the wall on a single 1080ti machine seems impossible, I just checked the UPS in my network closest where one my of machines lives. The entire closet is pulling ~475-525w with a 1080ti machine, a mostly idle server, my router, switch, modem and wireless AP. If I turn off Nicehash the usage in the closet drops to a very steady 250w which is exactly in line with what a maxed out 1080ti uses. He didn't say 500W, he said 0.5 kWh: Knifegrab posted:I accidentally posted this in the GPU thread but: Kill-o-Watts will let you measure either in W or in cumulative kWh. Assuming he meant 0.5 kWh, and overnight means ~8 hours, that's roughly 65 W, which leads me to believe that the kill-o-watt was averaging a lot longer than Nicehash was running. Like it was turned on for several hours before turning on Nicehash, or his computer went to sleep overnight, or something
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Nov 22, 2017 23:29
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So to clarify for everyone, I reset the kill-a-watt reader the moment I began mining and left it on overnight, and checked it in the morning, mining happened throughout the night and the meter began running at the right time. My kill-watt was plugged into an outlet that was then plugged into my UPS, my UPS then powers my computer, one of my monitors, my AMP (for headphones), and a few other very very small appliances (probably run less than a watt a day). I am not sure why its so high. Risky Bisquick posted:As a comparison for you Knifegrab How did you come up with these figures? Knifegrab fucked around with this message at 00:05 on Nov 23, 2017 |
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Nov 23, 2017 00:03
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Were you using the Wattage mode or the kWh mode?
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Nov 23, 2017 00:35
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QuarkJets posted:Were you using the Wattage mode or the kWh mode? As far as I am aware kWh mode, it gave me a running total. What are the differences?
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Nov 23, 2017 00:44
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Knifegrab posted:So to clarify for everyone, I reset the kill-a-watt reader the moment I began mining and left it on overnight, and checked it in the morning, mining happened throughout the night and the meter began running at the right time. Using a killawatt, mining is 1/3 my power bill at an affordable $0.107/kWh
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Nov 23, 2017 00:45
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I could have sworn my Kill-a-Watt had a kWh per hour mode which I assumed was what he was using since it would fit the complaint, but now that I check I see you are correct. It has real-time wattage and cumulative kWh only. Knifegrab, if you were seeing 0.5 kWh after running overnight then I'd have to say something is wrong in the opposite direction. That's well under 100 watts average power draw (for any reasonable definition of overnight). That's basically idle power consumption. With a 1080ti crunching numbers you should be pulling around 400 watts give or take.
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Nov 23, 2017 00:46
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Knifegrab posted:As far as I am aware kWh mode, it gave me a running total. What are the differences? Read the booklet. kWh measures total draw since you’ve pressed the button. You need to divide by the number of hours it’s been on.
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Nov 23, 2017 00:48
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Risky Bisquick posted:Read the booklet. kWh measures total draw since you’ve pressed the button. You need to divide by the number of hours it’s been on. I did, I didn't include that in the initial comment but I took the cumulative and divided it by the hours it was running, that is how I got 0.5 kWh. It was 4.08 kWh when I checked in the morning after running for 8 hours.
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Nov 23, 2017 00:54
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Retry in wattage. Idle / cpu / gpu / both. Work off peak numbers you see E: also switch to the most power intensive algorithms based off what to mine dot com, and compare the power usage to your own ie gpu load - peak idle with similar settings. Risky Bisquick fucked around with this message at 01:07 on Nov 23, 2017 |
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Nov 23, 2017 01:04
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Knifegrab posted:I did, I didn't include that in the initial comment but I took the cumulative and divided it by the hours it was running, that is how I got 0.5 kWh. It was 4.08 kWh when I checked in the morning after running for 8 hours. Be careful of your units. You mean .5 kW since you divided out the hours. 500 W on a 1080 Ti rig makes sense.
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Nov 23, 2017 02:09
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Turd Eater posted:Be careful of your units. You mean .5 kW since you divided out the hours. 500 W on a 1080 Ti rig makes sense. I am so loving confused now. I thought that my machine averages .5kWh meaning every hour it uses 500 Watts. so that is to say underload my machine is rated at 0.5 kWh.
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Nov 23, 2017 02:13
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Knifegrab posted:I am so loving confused now. I thought that my machine averages .5kWh meaning every hour it uses 500 Watts. so that is to say underload my machine is rated at 0.5 kWh. Think of watts as being a rate of power consumption, while watt-hours are amount of power. Consuming 500 watts for one hour, or one watt for 500 hours, means you have consumed a total of 500 watt-hours of power (and a kWh is just 1000 watt-hours of course). The other way you can measure power is by current (the voltage is implicit - often either grid voltage or the voltage of the battery). So you could give the rating of a battery in amp-hours - if you have a 3 amp-hour battery it could sustain a 3-amp current for one hour, or a 1-amp current for 3 hours. Power = voltage x current, so you can see that higher voltages let you deliver more power with a given amount of current (and current is what causes heating in connectors/wiring/etc). Paul MaudDib fucked around with this message at 02:26 on Nov 23, 2017 |
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Nov 23, 2017 02:23
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Yes, if you used 4.08kWh over 8 hours you averaged ~500 watts over that time. That would be within plausibility but still unusually high for a 1080ti system unless you're overclocked to hell and/or have a really inefficient CPU.
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Nov 23, 2017 02:58
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Id just get an instant reading and use a power calculator tbh. Its not going to vary much Regardless , 0.22 then 0.40 is bad news
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Nov 23, 2017 03:25
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500w is still high for a 1080ti system unless he is also CPU mining. The 1080ti alone should be doing roughly 250(depending on OC/undervolt, so that plus some idle power from the rest of the system.
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Nov 23, 2017 04:57
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Risky Bisquick posted:Retry in wattage. Idle / cpu / gpu / both. Work off peak numbers you see What he did is actually very reasonable; you pay for power in kWh, so it makes sense to calculate your average kW usage for the night and to compare the cost of that many kWh to the revenue that Nicehash gives you. Doing it your way should give approximately the same result, but his way can be done overnight without watching the drat thing
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Nov 23, 2017 04:58
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Knifegrab posted:I am so loving confused now. I thought that my machine averages .5kWh meaning every hour it uses 500 Watts. so that is to say underload my machine is rated at 0.5 kWh. That's basically right. The only question was whether or not you had already divided by the time over which you were making the measurement. You did everything right when you determined that you were paying for 0.5 kWh for every hour that you ran Nicehash When you divided by N hours that changed the units to kW, but you were interested in the kWh cost per hour. Those happen to be the same thing. What the others are saying is that your machine averages 0.5 kW (not kWh), so for each hour of mining you are consuming 0.5 kWh. Anyway good on you for actually bothering to make this measurement because I doubt most people would QuarkJets fucked around with this message at 05:06 on Nov 23, 2017 |
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Nov 23, 2017 05:02
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QuarkJets posted:What he did is actually very reasonable; you pay for power in kWh, so it makes sense to calculate your average kW usage for the night and to compare the cost of that many kWh to the revenue that Nicehash gives you. You are exaggerating the difficulty of getting exact numbers which they should do given their power cost and unexplained system power draw. I mean, if someone wants to provide charity to the crypto market by all means, but most of us are here to make profits.
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Nov 23, 2017 05:40
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I'm exaggerating jack poo poo, it is easier and more accurate to average the power draw over a night. He's going to be running the system overnight, he should measure the average revenue and cost over a common duration Figuring out why his power draw is so high is a separate matter
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Nov 23, 2017 06:21
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How can your average today work for next month when yopu have no control over algorithm profitability? I mean if they cant use afterburner you think they would deselect things that could put them into charity mode?
Risky Bisquick fucked around with this message at 06:30 on Nov 23, 2017 |
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Nov 23, 2017 06:26
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It doesn't, but nor does the spot wattage
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Nov 23, 2017 06:28
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The average is more resilient than the spot measurement, for the reason you brought up
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Nov 23, 2017 06:29
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