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optimization is irrelevant, if a coin is popular, efficient and easy to mine, the difficulty will increase until it is none of those things. There are coins with proof of stake or hybrid models that portend to fix the problem but there's no decent working example. Ethereum keeps claiming it'll move entirely to PoS, but they've missed like 3 deadlines for that so who knows. If I were them, I would be focused on switching from Solidity to a real programming language before people start trying to use it for anything serious.
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Dec 11, 2017 16:41
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Be Your Own Nuclear Power Plant.
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Dec 11, 2017 16:52
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Stanley Pain posted:Be Your Own Nuclear Power Plant. I for one am expecting meltdowns when the price tanks
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Dec 11, 2017 16:54
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1gnoirents posted:On the electricity thing, bitcoin is worth so much money now that being upset about electricity cost is getting a little irrelevant. You're going to have to also compare the electricity costs to run financial networks at this point, while not apples to apples, its not like its being pissed into the wind anymore. Unless you think money is worthless and shouldn't consume resources, which is another topic. hey true believer, I'll bet you ten satoshis you don't even use your "money" because it's effectively worthless for anything other than riding a beanie baby pyramid scheme comparing bitcoin to financial networks is comically stupid if not just for how pitiful bitcoins limitation on transactions per 10 minute chucks is gimped at, but the watts per transaction is retarded, like enough to power a US household for day just for altering numbers in a database bitcoin and "proof of work" is literally intended to waste excessive amounts of computer work as millions of computers across the world scream and fart out guesses to a silly puzzle for the sake of keeping an accounting system running you could compare bitcoin to other distributed database systems but please don't advocate for the legitimising of an insanely wasteful beanie baby pyramid scheme database without even questioning if it merits improvement im surprised it's lasted this long and if the energy usage continues to get out of hand, it'll be worth regulating the gently caress out of any business touching it Computer Serf fucked around with this message at 17:23 on Dec 11, 2017 |
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Dec 11, 2017 16:59
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Dr. Fishopolis posted:please point me toward an analysis of the collective power consumption of fiat currency worldwide and tell me how it compares to bitcoin mining. I dont have that, sorry. But the value of coins is non zero, as stupid as it is (and I really, really dont get how it has any actual value at all), the fact is it does and it just means that the 50 cents a day I'm spending in electricity processing transactions in a financial network for ten times the financial value in return is nothing like spending 50 cents a day in electricity for 51 cents a day as payment like it was for years leading up to 2017. Yes ultimately I'm using earth's resources to produce magic fake money instead of say, a product, but money is money and its now part of the economy for whatever that is worth. The argument is just less valid than it was is all I'm saying because due to extraordinary circumstances a bitcoin is worth $16000 and as of today is trading on Wall Street as opposed to cooking strawberries. And now its legitimacy is going to make me actually file all this as an income tax next year. Do I wish I wasn't using humankind's bleeding edge technology to process buttcoins? Yeah. But thats just not the case. Yes this is my opinion and im probably very wrong and im a very bad person for it and maybe im just butthurt that Nicehash stole 300 fake internet pesos from me but you cant prove that
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Dec 11, 2017 17:05
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I mean it doesn't make sense to be getting mad at "legitimizing" Bitcoin any more, you realize it's loving mainstream now, right? I work with sales bros in a call center and even they yap about it. Business channels on TV toss around as much hot air about the price going up and down as the miners do. Government intervention and killing net neutrality are the only things that can stop cryptocurrency now, and I don't know if that's going to leave us with a better world. Put that same effort into moving more of the world to solar power world be better spent. Also, isn't the overall energy ceiling decreasing for mining? Last round you had graphics cards that ran at 350w stock, and now they're 250... I assume if they can keep it up that'll alleviate some of this.
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Dec 11, 2017 17:19
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This is getting stupid.
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Dec 11, 2017 17:19
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PerrineClostermann posted:This is getting stupid. I think we can all agree on that
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Dec 11, 2017 17:20
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PerrineClostermann posted:This is getting stupid. When is it not? I thought we were trying to discuss exactly how stupid...
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Dec 11, 2017 17:21
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Zero VGS posted:I mean it doesn't make sense to be getting mad at "legitimizing" Bitcoin any more, you realize it's loving mainstream now, right? I work with sales bros in a call center and even they yap about it. Business channels on TV toss around as much hot air about the price going up and down as the miners do. While the power costs may be going down, the number of coins is increasing and the hashing power is being distributed across all the altcoins. If there was some sort of hegemony and standardized asic resistant coin, the boom would be over essentially.
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Dec 11, 2017 17:24
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Zero VGS posted:Also, isn't the overall energy ceiling decreasing for mining? Last round you had graphics cards that ran at 350w stock, and now they're 250... I assume if they can keep it up that'll alleviate some of this. Do you have any idea how these things actually work? It's an arms race to see who can waste the maximum amount of energy while still clearing a margin. The fact that the hash rate/watt value is going up is irrelevant and none of that increases the actual capacity of the network because the fundamental design is garbage and unscalable.
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Dec 11, 2017 17:28
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You are getting over $1 for 10 cents in power right now on some coins, at 5 cent power its a 20x return on input costs. As valuations go up it will only get worse 
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Dec 11, 2017 17:32
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Zero VGS posted:Also, isn't the overall energy ceiling decreasing for mining? Last round you had graphics cards that ran at 350w stock, and now they're 250... I assume if they can keep it up that'll alleviate some of this. While performance-per-watt has, indeed, gone up with GPU generations, so has the mining difficulty. That is, your 350W card might have mined $5/day last round, but now it would mine only $3/day or whatever. To retain that $5/day you'd need to upgrade your old 350W card to a new 350W card. The entire thing is intentionally designed to keep people racheting up to ever more powerful machines if they want to have any hope of mining at a profit in a reasonable time frame.
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Dec 11, 2017 17:34
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LOL GFX card mining! Bitcoin mining doesn't give a poo poo about your crappy efforts, it is all about the 1000W+ Antminers and their ilk that make all the money mining.
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Dec 11, 2017 17:42
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DrDork posted:While performance-per-watt has, indeed, gone up with GPU generations, so has the mining difficulty. That is, your 350W card might have mined $5/day last round, but now it would mine only $3/day or whatever. To retain that $5/day you'd need to upgrade your old 350W card to a new 350W card. Well, at least it makes it easy to get awesome GPUs on eBay. There's a stigma that mining cards are treated like poo poo and are ready to break at any moment but I've flipped dozens of them and never one problem.
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Dec 11, 2017 17:42
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It would except for the insane valuations right now that have driven the prices of higher-end GPUs up and up. When the bubble eventually pops you'll probably be able to get a quad-SLI rig for a song (not that quad-SLI even works anymore), but right now even used prices are kinda stupid for most modern cards.
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Dec 11, 2017 17:47
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Risky Bisquick posted:83.5 MH for Lyra2REv2. I think you mine for like 20 hours in a single pool to build up your average that is used to calculate your share of the blocks found. Hard to say for certain yet. Risky Bisquick posted:Just setup individual miners and forget that multi coin nonsense This math seems all kinds of off. You're running 5 580s right? That calculates out to 28.5MH on Lyra or $426 a month on ETN?
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Dec 11, 2017 18:14
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So bitcoin survived whatever the trading poo poo was today to the moooooon
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Dec 11, 2017 18:16
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pr0zac posted:This math seems all kinds of off. You're running 5 580s right? That calculates out to 28.5MH or $426 a month on ETN? I've been accumulating hardware as the previous has been paid off. The 5x580 box only does 3500 H/s  which is Month 4,381.08 0.029791 $487.17 quote:6,136.6 H/s
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Dec 11, 2017 18:23
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my amd cards started mining closer to their values on whattomine today, about 2.30 each. Its better than before, still not nicehash good
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Dec 12, 2017 01:45
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WinMiner so far has been pretty disappointing for me with a 1080--it keeps mining random poo poo-coins at <$2/day whenever I let it run for a bit. I've more or less given up on it for the moment and wandered over to a VTC one-click miner on p2pool, which seems to pay out alright, although hilariously sporadically--like not getting paid anything for 24-48hrs and then getting a whole bunch of payments in the span of an hour or two.
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Dec 12, 2017 01:50
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The last two days I had my WinMiner PC crash after I left for work; the GPU would go into a state where it's still spinning but only drawing 50 watts and the screen is blank until I power cycle the machine. I watched very carefully, and what happens is it insta-crashes a second after WinMiner switches to "SIB" coin. I disabled just that coin and left all the rest on and now it's trucking along fine, hopefully that was it.
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Dec 12, 2017 02:54
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1gnoirents posted:it just means that the 50 cents a day I'm spending in electricity processing transactions in a financial network for ten times the financial value in return is nothing like spending 50 cents a day in electricity for 51 cents a day as payment like it was for years leading up to 2017. I don't know what you mean by this, it seems like you're just happy making money? While I don't have the numbers, I'm sure an electronic transfer of USD is much cheaper than a transfer of bitcoin since they don't have to use the whole artificially computationally intensive distributed consensus mechanism. It might be more environmentally friendly than actual mining for gold though, for now. 1gnoirents posted:I really, really dont get how it has any actual value at all It has value because criminals find it useful, Randians want to hoard it, and people speculate that they can make capital gains on it. The latter population could at any time change their mind and cause the price to fall rapidly.
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Dec 12, 2017 04:43
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CyclicalAberration posted:I don't know what you mean by this, it seems like you're just happy making money? While I don't have the numbers, I'm sure an electronic transfer of USD is much cheaper than a transfer of bitcoin since they don't have to use the whole artificially computationally intensive distributed consensus mechanism. It might be more environmentally friendly than actual mining for gold though, for now. You know what I mean, you just dont agree with it, based on the same types of blind assumptions that I'm making on the other side. If you could find half a trillion dollars in gold with the electricity used to "make" half a trillion dollars in buttcoins, I'd say you found yourself a new career there. I've passed what I consider an acceptable value in exchange of resources months ago, subjectively. You have not, and it sounds like you will never will no matter how much impact it has. Thats about as serious as I can possibly get about burritocoins
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Dec 12, 2017 05:40
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I just sold the 4 eth i bought in june at $100 each. This cryptocurrency thing is pretty ok in small doses. Now as long as I can avoid spending it on mining hardware it will truly have been a success. Lets hope I managed to avoid a crash and not have missed out on another 400% increase
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Dec 12, 2017 06:32
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Just a heads up if anyone is mining ETN. The wallet goes live tomorrow so lock in profits now if you don't want to sit on it for a bit. The other thing is speculation, BTC is probably going to settle down so bet on ETH (sorry Fauxtool, you sold too early)
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Dec 12, 2017 16:22
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Yeah, ETH is up over 30% just today. Man, *coin speculation never ceases to amaze me.
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Dec 12, 2017 16:28
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Just lol if you sell crypto coins instead of holding forever while still mining and spending money on them. Just. Lol.
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Dec 12, 2017 16:37
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well seems like that random litecoin I bought six months ago and literally forgot about is suddenly paying off for no discernible reason, and it mentally zeros out my nicehash balance loss too somehow I trust this less than bitcoin and im getting antsy to sell it off but I'll be strong and wait until its worthless again
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Dec 12, 2017 16:40
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1gnoirents posted:well seems like that random litecoin I bought six months ago and literally forgot about is suddenly paying off for no discernible reason, and it mentally zeros out my nicehash balance loss too coinbase has you covered bro Solice Kirsk posted:Went to take my profits and was met with this! HODL
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Dec 12, 2017 18:22
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Yeah i had to move it to gdax to sell (half). Ethereum was down too im sure that got a bunch of panties twisted
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Dec 12, 2017 18:58
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lol
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Dec 12, 2017 20:24
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 e: coinbase  http://www.businessinsider.com/coinbase-halts-ether-and-litecoin-trading-2017-12 quote:Coinbase, the popular cryptocurrency trading platform, blocked users Tuesday from buying red-hot litecoin and ether. Risky Bisquick fucked around with this message at 21:04 on Dec 12, 2017 |
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Dec 12, 2017 20:59
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Risky Bisquick posted:
thats one of the better setups i have seen. The cards actually have good airflow and the cabling is nice. I bet that room is hot as balls
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Dec 12, 2017 21:45
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While mining with a 1080ti I've noticed that Winminer is doing 55 MH/s mining Vertcoins. But, when I use my own CCMiner2.2r2 I pull in 67 MH/s. Does Winminer have a reduced intensity setting on their miners for default? With this kind of behavior combined with Winminer's tendency to sporadically remove VTC as a mining option I don't see the point in continuing with it.
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Dec 12, 2017 22:49
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Alzion posted:While mining with a 1080ti I've noticed that Winminer is doing 55 MH/s mining Vertcoins. But, when I use my own CCMiner2.2r2 I pull in 67 MH/s. Does Winminer have a reduced intensity setting on their miners for default? It may just have decided that it wasn't a profitable option at that point in time. Coin prices have been spiking around really badly, yesterday I saw Vertcoin as high as $6.50/day and as low as $1.50/day on a 1080. I get the feeling some of these Captains of Industry are still trying to figure out how to use a regular miner and don't have enough hysteresis set up. Yesterday I saw a pool with 300 MH/s on a network with ~1200 MH/s, and the pool hashrate would periodically bounce up to 2500 MH/s for 10 minutes (i.e. that one person had 64% of the total network hashrate), presumably at that point their miner told them that coin wasn't profitable anymore, and they'd bounce to another coin. A lot of the small coins don't really have much depth, and like one warehouse full of GPUs can run the profit into the ground.
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Dec 12, 2017 22:58
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Alzion posted:While mining with a 1080ti I've noticed that Winminer is doing 55 MH/s mining Vertcoins. But, when I use my own CCMiner2.2r2 I pull in 67 MH/s. Does Winminer have a reduced intensity setting on their miners for default? I've looked for quite a bit last week for a reasonable alternative and haven't found one yet, I'm definitely open for suggestions if anybody here has one. Its definitely not operating at any kind of "peak efficiency" that much is obvious and I've not seen any intensity settings personally. (Briefly) searching for it brings up huge threads on forums where it seems to be requested a lot. Perhaps its in config files. I'm just waiting for the network to stop going down before I worry about any of that though. Its still doing pretty well overall, its about $1 off per card compared to whattomine.com (when its working lol)
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Dec 12, 2017 23:14
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This image just makes me want to find the person at Nvidia, or AMD, or somewhere else that elected to put a make.money.fast instruction set in graphics cards and knee them in the genitals.
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Dec 12, 2017 23:22
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1gnoirents posted:I've looked for quite a bit last week for a reasonable alternative and haven't found one yet, I'm definitely open for suggestions if anybody here has one. Its definitely not operating at any kind of "peak efficiency" that much is obvious and I've not seen any intensity settings personally. (Briefly) searching for it brings up huge threads on forums where it seems to be requested a lot. Perhaps its in config files. I'm just waiting for the network to stop going down before I worry about any of that though. Its still doing pretty well overall, its about $1 off per card compared to whattomine.com (when its working lol) Try these but YMMV. https://bitcointalk.org/index.php?topic=2059039.0 https://www.reddit.com/r/gpumining/comments/7i253o/we_are_proud_to_announce_our_first_community/ e: 
Risky Bisquick fucked around with this message at 23:31 on Dec 12, 2017 |
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Dec 12, 2017 23:27
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I started using One Click Miner with Vertcoin on my 1070 and I get ~40 MH/s. Is there something else I should be doing?
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Dec 12, 2017 23:42
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