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Risky Bisquick posted:Please also note that we are periodically discarding balances, lower than 0.0001 BTC for miners that are inactive 30 days, and balances lower than 0.001 BTC for miners that are inactive 90 days. All balances from all algorithms are aggregated into a single payment. Nicehash has wallets too, though ive never heard anyone here use it. Its getting more appealing though because 0.001 is no longer a trivial amount of money and the payout limit to external wallets is baaically 100 dollars now. Nicehashes own wallet allows you to get paid from the miner at much lower limits. I just dont know if its reputable or trustworthy compared to coinbase Q8ee posted:I was buying from the UK, maybe it's more lax in the US. All I know is, it was the legitimate Coinbase website and they pretty much didn't respond whatsoever to my support tickets and I had 300GBP sitting uselessly in my Coinbase wallet, and I'd spend 20GBP on all the transaction fees to exchange it from BTC > GBP. My support ticket was pretty much kindly asking them if they'd revert the transactions, seeing as I was physically unable to withdraw said money without jumping through a tonne of hoops, none of which were made obvious to me until after Coinbase happily took their cut. Yeah sorry I read that but forgot to say that I did lol. Sounds like a no go for me too if I had to do that bs. I didnt know if 1st panzer was using coinbase outside of the US
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Nov 28, 2017 21:01
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1gnoirents posted:Nicehash has wallets too, though ive never heard anyone here use it. Its getting more appealing though because 0.001 is no longer a trivial amount of money and the payout limit to external wallets is baaically 100 dollars now. Nicehashes own wallet allows you to get paid from the miner at much lower limits. Has anyone figured out why that is?
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Nov 28, 2017 22:30
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Most users get hit with 4% fee on ext payout, nicehash wallet is typically 2% + 0.0003 BTC On an ext payout of 10 mBTC , 4% is 0.4 mBTC On an ext payout of 10 mBTC , 2% is 0.5mBTC (0.2 mBTC as 2% fee + 0.3 mBTC) They want you to think you're getting a deal on a percentage basis and slap you with the 0.3 mBTC withdrawl fee
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Nov 28, 2017 22:56
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Out of curiosity, how does an online currency’s bubble burst? Online retailers are accepting it and I don’t know what could ruin its value beside someone manage to break the encryption?
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Nov 28, 2017 23:15
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A country like China decides to make it illegal or they start seizing wallets making the casual speculative buyers uneasy and cash out. It causes the next level of slightly more serious holders to see the drop and try to get ahead of it before they lost more. And so on until only the true believers hold Bitcoin like a few years ago There are A LOT of standing buy orders that will absorb a lot of the initial panic sells so when it does hit it will hit extra hard
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Nov 28, 2017 23:28
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Nyaa posted:Out of curiosity, how does an online currency’s bubble burst? Online retailers are accepting it and I don’t know what could ruin its value beside someone manage to break the encryption? It isn't a currency. And Bitcoin has crashed before, and will crash again.
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Nov 28, 2017 23:31
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Peachfart posted:It isn't a currency. And Bitcoin has crashed before, and will crash again. Exactly, it’s a DIGITAL currency
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Nov 28, 2017 23:41
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So to clarify: you can use Coinbase to store coins and cash them out with Gyft without having to send Coinbase a bunch of info? I don’t have any valid photo ID (I’ve never learned to drive cars and my passport expired last month), so just asking for the short term.
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Nov 28, 2017 23:41
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Craptacular! posted:So to clarify: you can use Coinbase to store coins and cash them out with Gyft without having to send Coinbase a bunch of info? Just cashed out $500 easy. Gyft makes it really, really easy. Literally just copy the BTC address they give you, copy the BTC amount and send it. Got my code in like two minutes.
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Nov 28, 2017 23:57
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Craptacular! posted:So to clarify: you can use Coinbase to store coins and cash them out with Gyft without having to send Coinbase a bunch of info? Yes, in america apparently only (perhaps). All they have is my name and phone number for dual factor login. Im not even sure they needed my name but that can lead to headaches when money is moving around. Should probably get a state ID though. Not having any ID in the states is highly inconvienent and is a big red flag to a lot of groups. I know this sounds condescending and im sorry for that and im sure you know it.
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Nov 29, 2017 00:02
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Nyaa posted:Out of curiosity, how does an online currency’s bubble burst? Online retailers are accepting it and I don’t know what could ruin its value beside someone manage to break the encryption? I think it'll be one of the three below, but there's a million other ways it could fail too: 1) Major world governments effectively criminalize usage of bitcoin, making it almost impossible to ever convert from bitcoin to local currency through the control that governments are able to exert over banks in their countries and their citizens. 2) Either an intentional DDOS or just unintentional unchecked growth of bitcoin popularity makes the transaction volume so high that transactions get clogged up for days and become incredibly expensive, exposing how bitcoin can't scale. They might be able to continue to hard-fork their way out of this one. 3) Due to the complete lack of regulation that Bitcoin fans defend as a core feature of Bitcoin, somebody with deep pockets or one of the major exchanges starts engaging in wholesale market manipulation. There's a reason that the SEC and all major stock exchanges have rules and regulations. I saw this one happen in Ethereum, a major player ran the order books at an exchange all the way down to 0. He crashed the price right down to $0.10. 4) MtGox happens again. A major exchange, let's say Bitfinex, or GDAX, either is entirely bankrupt and gets asked for more USD than they are able to pay out, or alternatively the owners of the exchange see that they can walk away with a billion each and probably hide, and just decide to steal everyone's money and run.
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Nov 29, 2017 00:07
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Risky Bisquick posted:Most users get hit with 4% fee on ext payout, nicehash wallet is typically 2% + 0.0003 BTC That doesn't explain why they give preference to Nicehash wallets Not unless their wallets just represent bitcoins belonging to Nicehash, as opposed to an actual wallet with blockchain keys in it
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Nov 29, 2017 00:20
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QuarkJets posted:That doesn't explain why they give preference to Nicehash wallets Ask yourself why a bank wants to give you free checking. If you can't then stay away from all of this
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Nov 29, 2017 00:38
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QuarkJets posted:That doesn't explain why they give preference to Nicehash wallets This is an interesting question. As far as i know its a real separate wallet address so all the real world fees should apply? In that case its probably a matter of promoting your own services. With a flat payout fee though, that became immediately unappealing.
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Nov 29, 2017 01:07
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QuarkJets posted:That doesn't explain why they give preference to Nicehash wallets Fauxtool posted:Ask yourself why a bank wants to give you free checking. If you can't then stay away from all of this They use your capital and leverage it 5x, maybe 10x whatever is legal in crypto. Think of a bank run on deposits ruining their capitalization, so perhaps to invest???
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Nov 29, 2017 01:34
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Risky Bisquick posted:They use your capital and leverage it 5x, maybe 10x whatever is legal in crypto. Think of a bank run on deposits ruining their capitalization, so perhaps to invest??? That's what I think they do with it, it's the easiest way to benefit. 
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Nov 29, 2017 02:33
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Fauxtool posted:That's what I think they do with it, it's the easiest way to benefit. Transaction in progress babe come back in 4 hours if all goes well
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Nov 29, 2017 02:38
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Fauxtool posted:Ask yourself why a bank wants to give you free checking. If you can't then stay away from all of this Does Nicehash invest in things or are you just saying that they only maintain a fractional reserve of bitcoins being used in their wallet service? Because if the latter then lol
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Nov 29, 2017 04:07
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QuarkJets posted:Does Nicehash invest in things or are you just saying that they only maintain a fractional reserve of bitcoins being used in their wallet service? Because if the latter then lol both, and the investment is likely in bitcoin too.
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Nov 29, 2017 04:43
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$10,000 and up up up
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Nov 29, 2017 05:13
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1gnoirents posted:$10,000 and up up up We’re entering uncharted crypto burrito territory here Is there such a thing as double guac?
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Nov 29, 2017 06:05
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the SLI 1080ti crew has been double guac double meat for awhile
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Nov 29, 2017 08:23
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Do people find that risers are actually reliable? I tried them once, I did all the usual stuff (turn PCIe speed down to 1.0x, enable 4G+ addressing, etc), and I was still getting maybe a 48-hour MTBF with 4 or 5 GPUs on a board. Honestly it seems like it makes more sense to go with fewer but faster GPUs and to not use risers.
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Nov 29, 2017 08:39
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So what do you guys do for fan curves? Just run the card normally or go all-out or lock it at a certain percentage or what?
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Nov 29, 2017 08:39
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Twerk from Home posted:3) Due to the complete lack of regulation that Bitcoin fans defend as a core feature of Bitcoin, somebody with deep pockets or one of the major exchanges starts engaging in wholesale market manipulation. There's a reason that the SEC and all major stock exchanges have rules and regulations. I saw this one happen in Ethereum, a major player ran the order books at an exchange all the way down to 0. He crashed the price right down to $0.10. This has always been the normal state of things in bitcoin.
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Nov 29, 2017 09:16
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Paul MaudDib posted:Do people find that risers are actually reliable? I tried them once, I did all the usual stuff (turn PCIe speed down to 1.0x, enable 4G+ addressing, etc), and I was still getting maybe a 48-hour MTBF with 4 or 5 GPUs on a board. Honestly it seems like it makes more sense to go with fewer but faster GPUs and to not use risers. I actually use 16x-to-16x risers for 4x 1080 Tis for Machine Learning stuff and they work perfectly fine and are a lot more intensive than mining. By all accounts, the 16x-to-1x stuff works well for mining. I got my risers from a B&M place that sells the lower end cables for miners and they're doing brisk business. shrike82 fucked around with this message at 09:39 on Nov 29, 2017 |
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Nov 29, 2017 09:36
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https://www.google.com/amp/s/electr...rcharger-power/ How long until Tesla disallows bitcoin mining in their cars?
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Nov 29, 2017 19:41
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PerrineClostermann posted:https://www.google.com/amp/s/electr...rcharger-power/ That's such a scumbag thing to do lol, abusing a system that's provided for free and putting it at risk for other users who don't take advantage of it.
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Nov 29, 2017 20:03
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At 10k/BTC I'm back in for burritos. 1080Ti and cheap power crew represent. Lookin forward to cashing out for subway gift cards because apparently you can just buy games and poo poo with those now
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Nov 29, 2017 20:05
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Just an fyi, Quadrigacx does emt without photocopying your passport etc
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Nov 29, 2017 20:11
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Awesome. Though to be honest I need to try this "buy video games with Subway gift cards" thing at least once. It's just such an absurd notion and it completely encapsulates bitcoinery in a single concept. 
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Nov 29, 2017 20:30
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Okay after running Nicehash in demo mode for a bit, I don't know why 1070s are/were in demand. $2.53 cents a day is like, woo, every day I get 25% of what a McDonalds employee earns in an hour. And all I have to do is activity that will shorten my $400 GPU's lifespan to 6-24 months. What a deal! 10k/BTC is nice for the people with warehouses still farming bitcoins, but until Ether or one of these altcoins rises you're not actually seeing an appreciable increase in mining. You are, I assume, just holding the results of said mining in a wallet for a while hoping it'll worth a slightly larger gift card in two weeks. Which might not happen because this is bitcoin we're talking about and it goes the wrong way all the time.
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Nov 29, 2017 20:38
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Craptacular! posted:Okay after running Nicehash in demo mode for a bit, I don't know why 1070s are/were in demand. $2.53 cents a day is like, woo, every day I get 25% of what a McDonalds employee earns in an hour. And all I have to do is activity that will shorten my $400 GPU's lifespan to 6-24 months. What a deal! 0.0016 BTC/day 16.00 USD/day  +5 RX580 next week
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Nov 29, 2017 20:40
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Craptacular! posted:Okay after running Nicehash in demo mode for a bit, I don't know why 1070s are/were in demand. $2.53 cents a day is like, woo, every day I get 25% of what a McDonalds employee earns in an hour. And all I have to do is activity that will shorten my $400 GPU's lifespan to 6-24 months. What a deal! People in general are bad at personal finance and will happily take out a huge loan to buy a shitload of graphics cards and an AC unit for their uninsulated garage
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Nov 29, 2017 20:41
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Risky Bisquick posted:0.0016 BTC/day lol, you actually bought cards for mining Bitcoin.
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Nov 29, 2017 20:47
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Looks like it burped and lost some money, it was up to over $11.3k and dipped down below $8.5k before sort of bouncing back. I thought for sure the bubble was popping before my eyes.
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Nov 29, 2017 21:01
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SpaceBanditos posted:Looks like it burped and lost some money, it was up to over $11.3k and dipped down below $8.5k before sort of bouncing back. I thought for sure the bubble was popping before my eyes. I AM THE HARBINGER OF THE BITPOCALYPSE
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Nov 29, 2017 21:14
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How do people not run arbitrage all the time? The major bitcoin exchanges differ in price by more than 5%, are transaction costs really greater than 5%?
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Nov 29, 2017 21:15
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I decided to check /r/Bitcoin for the first time ever and everyone was pissed that they couldn't jam through enough buy orders during the dip because "this might be the last time you get to buy Bitcoin for 4 figures!"
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Nov 29, 2017 21:21
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SpaceBanditos posted:I decided to check /r/Bitcoin for the first time ever and everyone was pissed that they couldn't jam through enough buy orders during the dip because "this might be the last time you get to buy Bitcoin for 4 figures!" Yeah and the hosed up thing is they might be right. There were probably scores of people saying the same thing for 3 figures when it was first breaking $1000.
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Nov 29, 2017 21:27
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