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Rastor posted:In terms of values of the coins, by law of supply / demand a sudden increase in supply should drop the price, but cryptocurrencies are currently inside a bubble and normal logic is not going to apply That also should only be true for a very short period of time if the coin is operating properly (if). Virtually all coins now are designed with a reactive scaling difficulty, so that a massive influx of compute power is very quickly met with a massive hike in difficulty (what we saw here), so that in short order it all evens out. So that ASIC that you bought that on 28 Jan was making you $50/day at 600 difficulty is now making you $5/day at 6,000 difficulty, because each coin now takes 10x as much processing power to mine as it did before. So the influx of coin supply should remain relatively stable. Which makes is somewhat doubtful that the ASIC people are really gonna make their money back on this, either, but oh well!
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Jan 30, 2018 12:41
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Rastor posted:In terms of values of the coins, by law of supply / demand a sudden increase in supply should drop the price, but cryptocurrencies are currently inside a bubble and normal logic is not going to apply Yeah that’s what I was getting at. I figured it could either mean “oh drat can’t mine this coin anymore it’s worthless now” or “oh drat can’t mine this coin anymore the value can only go up!!!!”
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Jan 30, 2018 14:01
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Boris Galerkin posted:Yeah that’s what I was getting at. I figured it could either mean “oh drat can’t mine this coin anymore it’s worthless now” or “oh drat can’t mine this coin anymore the value can only go up!!!!” Good sir, this is the Cryptoburrito Mining Thread. The only place to go is up!
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Jan 30, 2018 14:57
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Alpha Mayo posted:Is it getting that bad? When I sold my 1060 a few days ago I was still getting about 3.50. That was with a customized setup of Multipoolminer that I was using and alternating between miningpoolhub and nicehash but still. Winminer in particular is low, but it's also the easiest by far to cash out of. I made a quick $25 from them a while ago, but then the return dropped to about 70% of nicehash.
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Jan 30, 2018 15:03
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Now that NiceHash is paired with Coinbase, as long as you've got a PayPal account you can spirit your money out almost as easily as with WinMiner. Speaking of NiceHash, they're supposed to reveal their Master Plan for paying everyone back their stolen butts no later than tomorrow. Eagerly awaiting the inevitable shitstorm and/or announcement of a second round of theft.
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Jan 30, 2018 15:36
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DrDork posted:Now that NiceHash is paired with Coinbase, as long as you've got a PayPal account you can spirit your money out almost as easily as with WinMiner. Hello we are introducing nicecoin, a coin you can mine to trade back to us for your missing coins. Benefits: - block chain Drawbacks: -
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Jan 30, 2018 17:01
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DrDork posted:Now that NiceHash is paired with Coinbase, as long as you've got a PayPal account you can spirit your money out almost as easily as with WinMiner. Watching the mining rate inexplicably take a huge dive in the last day when their supposed announcement is tomorrow is setting off my bullshit alarm but I dont know exactly what for.
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Jan 30, 2018 18:46
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Davorcoin dropped down to $3 lol https://www.reddit.com/r/DavorCoin/comments/7tzsft/scam_is_coming_price_is_so_fking_down_3_now_sell/
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Jan 30, 2018 19:15
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Boris Galerkin posted:Hello we are introducing nicecoin, a coin you can mine to trade back to us for your missing coins. Okay so I made this post in jest, but in the Trump thread of all places I just learned about something called “tether” which sounds like what I was joking about. Can someone smarter explain tether to me. Because it sounds like some dude just decided to start a company and offer their own currency, which they totally promised is tied to the value of the dollar, and people bought into it instead of buying bitcoins directly for ???? reasons. Man honestly I wish my response to bitcoin when it was <$10 wasn’t “lol this is trash.” I could be so rich right now.
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Jan 30, 2018 19:36
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Boris Galerkin posted:Okay so I made this post in jest, but in the Trump thread of all places I just learned about something called “tether” which sounds like what I was joking about. Alternatively you could also by $500k in the hole or dead.
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Jan 30, 2018 19:38
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Boris Galerkin posted:Okay so I made this post in jest, but in the Trump thread of all places I just learned about something called “tether” which sounds like what I was joking about. You should contact Marty McFly if you need help with your time bias
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Jan 30, 2018 19:41
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Obviously hindsight is 20/20. I’m not actually “upset” about not buying $10 in bitcoins back then.
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Jan 30, 2018 19:43
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Bitcoin is just as stupid now as it was in 2012
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Jan 30, 2018 19:46
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Boris Galerkin posted:Okay so I made this post in jest, but in the Trump thread of all places I just learned about something called “tether” which sounds like what I was joking about. https://twitter.com/thelateempire/status/957527371221028865
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Jan 30, 2018 21:17
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In that case "millions" means exactly $11.00, but the premise of random coin ICOs wandering off with people's money is absolutely A Thing.
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Jan 30, 2018 21:38
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tether is literally Liberty Reserve and it's going to end exactly the same way in 3 months or so. Hopefully it'll take bitfinex with it.
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Jan 31, 2018 00:17
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Boris Galerkin posted:Okay so I made this post in jest, but in the Trump thread of all places I just learned about something called “tether” which sounds like what I was joking about. my post an actual newspaper (note how the word "scam" was removed from the headline but is still in the URL) bitcoin:
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Jan 31, 2018 02:05
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Just cashed out at 11.5k; price is at 9700 now. Wonder if this is the real pop or just another BUY THE DIP
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Jan 31, 2018 02:21
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tehinternet posted:Just cashed out at 11.5k; price is at 9700 now. Wonder if this is the real pop or just another BUY THE DIP Speculation is that if USDT collapses its gonna take BTC with it. Like 50-80% freefal
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Jan 31, 2018 03:00
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Don Lapre posted:Speculation is that if USDT collapses its gonna take BTC with it. Like 50-80% freefal Yeah, I read the article linked above. Even though I’m benefitting from mining, a part of me just wants to watch the thing burn because it’s so loving stupid. Well, that and the “my friend is missing because he took a 120k loan from a loan shark then BTC dropped 30%” posts.
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Jan 31, 2018 03:05
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Don Lapre posted:Speculation is that if USDT collapses its gonna take BTC with it. Like 50-80% freefal
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Jan 31, 2018 03:11
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1070 gets usd2.5/day on nicehash, my local buttlords are already starting to panic selling their GPU special reserve
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Jan 31, 2018 04:36
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Palladium posted:1070 gets usd2.5/day on nicehash, my local buttlords are already starting to panic selling their GPU special reserve I’m getting $3.30-3.50 USD on a 1070 as of twenty minutes ago.
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Jan 31, 2018 04:54
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My 
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Jan 31, 2018 06:13
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Boris Galerkin posted:Okay so I made this post in jest, but in the Trump thread of all places I just learned about something called “tether” which sounds like what I was joking about. People use Tether because it lets them trade on exchanges that are so shady and corrupt that no banks will work with them People want to use these exchanges because people are stupid
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Jan 31, 2018 06:46
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tehinternet posted:Just cashed out at 11.5k; price is at 9700 now. Wonder if this is the real pop or just another BUY THE DIP I dont know but I bought the dip big time all in, so... here's hoping. I think if it touches 9600 again it may go into freefall due to lack of any further supports. *cheers*
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Jan 31, 2018 15:28
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number go up. please
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Jan 31, 2018 20:12
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NiceHash update: https://www.nicehash.com/news/nicehash-will-fully-reimburse-its-users Apparently they’re paying back 10% of what’s owed starting this Friday and will continue to do so periodically. I’m honestly surprised that they’re going to pay anything at all.
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Jan 31, 2018 20:15
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tehinternet posted:NiceHash update: https://www.nicehash.com/news/nicehash-will-fully-reimburse-its-users quote:Conditions for payment to external wallet addresses do apply with the Repayment program. When you reach 0.01 BTC you are eligible for payment. NiceHash will include your old balance in this amount. You still need to mine there to get your money out
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Jan 31, 2018 20:23
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Risky Bisquick posted:You still need to mine there to get your money out Yup. Pretty brilliant scam IMO; to get what you’re owed back you have to have to mine 0.1 BTC in total over an unknown period of time. “Lose” everyone’s BTC, then hold their fake money hostage to force them to continue to use their service. Brilliant.
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Jan 31, 2018 20:36
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Oh nice. I doubt ill switch back to the external address but ill keep it alive. They owe me almost 0.02 so at least eventually it will be above the threshold but I suppose I need to remember to mine to it every month or whatever the inactive account cutoff is. I better find that out
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Jan 31, 2018 20:37
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quote:For example, if your old balance (that is going to be reimbursed) is 0.009 BTC, you still have to mine an additional 0.001 BTC to this external wallet address so you reach 0.01 BTC in total. Once the combined balance shows 0.01 BTC, payment will be made to your external wallet address. Well this makes it less clear. If you had over 0.01 BTC in your old wallet, does that mean it'll disburse anyway?
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Jan 31, 2018 20:39
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Hello bitcoin chat, I would like to buy a normal, midrange or budget GPU for normal non-blockchain uses (e.g. gaming). This is no longer possible due to this ever more infuriating ponzi scheme. When might I be able to do that again? Are there any GPUs that are decent for gaming but poo poo for mining? And on a related note, when craigslist eventually gets flooded by last year's no-longer-profitable-for-mining GPUs, how likely are they to be suffering latent heat related damage? Should I avoid altogether, or are they still worth picking up at severe discount? Blessings and thank you
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Jan 31, 2018 23:34
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Mr. Wynand posted:Are there any GPUs that are decent for gaming but poo poo for mining? Probably better asked in the GPU thread, but GeForce 980 keeps pace with the 1060 while also wasting more power and thus being the kind of card miners would not covet for running forever since higher electric bills harms profit.
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Jan 31, 2018 23:37
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https://www.nowinstock.net/ Baby sit the alerts and you will get a card within 2 days
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Jan 31, 2018 23:38
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quote:Repayment program edit: lol, if they're not "liable" for that, then who the gently caress is
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Jan 31, 2018 23:39
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Mr. Wynand posted:Hello bitcoin chat, I would like to buy a normal, midrange or budget GPU for normal non-blockchain uses (e.g. gaming). This is no longer possible due to this ever more infuriating ponzi scheme. I am selling 1070's for $525 PayPal shipped to goons if you PM me, which is pretty fuckin' generous since I'm also easily selling one per hour on eBay for $625. It is a lovely PNY blower model but it works fine, looks mint, and I'll help you with warranty if you ever need.
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Jan 31, 2018 23:42
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970 and 980 TI are the go to non mining gaming focused cards right now. On no, a dollar more electricity per month, just put that against the 300 dollars you saved not getting a Pascal. Heat should be a non issue because anyone running a large scale mining operation has learned the benefits of running the cards cool and low powered. The only potential failure point is the fan since it might have been running for years without ever turning off and consumer hardware is designed with the idea people turn it off. A replacement fan is only like 15 dollars and a half hour of your time though, it's not a big deal if the cards are cheap enough.
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Feb 1, 2018 00:15
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just dont buy anything amd or blower style and you will be fine regarding used cards
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Feb 1, 2018 00:41
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Mr. Wynand posted:When might I be able to do that again? Are there any GPUs that are decent for gaming but poo poo for mining? Mr. Wynand posted:And on a related note, when craigslist eventually gets flooded by last year's no-longer-profitable-for-mining GPUs, how likely are they to be suffering latent heat related damage? Should I avoid altogether, or are they still worth picking up at severe discount?
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Feb 1, 2018 00:42
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