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=== Just go loving run Folding@Home instead because at least you'll be doing something useful for the world with that. === PREFACE: DO NOT UNDER ANY CIRCUMSTANCES INVEST ANY MONEY INTO CRYPTOCURRENCY MINING. IF YOU DO SO YOU ARE INCREDIBLY STUPID AND YOU WILL BE MOCKED RELENTLESSLY.  On scams and coinery: Cryptocurrency is peak free market internet libertarianism. Scams happen. You'll likely be hit by at least one without you even knowing it. Cash out early, cash out often. Keep as little cryptocurrency as possible. Factor in the potential of losing a week or two of mining once in a while when estimating profitability to see if it's still worth it.This is basically a negative-sum game. There's no good way to get anything out of this unless you have something like a GPU array for machine learning you didn't pay for that you're not doing machine learning on anymore. Also most of this OP is so horrible out of dated you just shouldn't pay attention to it.  that's you in the middle, dork It took us ten pages of people in the GPU thread saying "we should really start a cryptocurrency mining thread so as to not gunk up this one" to get to this point. This isn't the GBS or YOSPOS threads -- this is an offshoot of the GPU Megathread for the technical side of mining and turning your cheap socialist hydroelectricity and the hardware you already have into money that may or may not disappear into the ether once in a while. Please keep that in mind before threadshitting. Various bits of this OP were contributed by craig588, especially the Nvidia-specific deep dive parts. I've tried to keep as much of the details from his writeup intact in their original form. What is cryptocurrency? Cryptocurrency, or "magic internet money", is a type of digital-only asset brought into existence by a reusable proof-of-work scheme that uses complex cryptographic hash functions to "solve" mathematical problems. The "solution" leads to the generation of units of cryptocurrency. This is referred to as "mining." The first cryptocurrency to gain any attention and that is currently to other cryptocurrencies what the US dollar or Euro are to actual currencies is Bitcoin. Mining Bitcoin at this point is considered beyond ineffective -- the overwhelming majority of bitcoin mining power is tied up in ASIC mining farms, primarily in China. The difficulty of mining bitcoin on GPUs versus on ASICs is high enough that there is effectively no point. So, why do people use bitcoin? Bitcoin and its ilk are designed to be decentralized. This has led many people to believe it is impossible to trace transactions; in reality, it is only an added step of difficulty, but a fairly effective one. This makes bitcoin incredibly useful for illegal transactions on the darknet and money laundering, which is not why you should be reading this thread and is not something we can help you with. Most of the other reasons for it are anti-big bank, anti-government, terrible terrible speculative investment, and stockholm syndrome (to the moooooon). But this thread isn't for any of that. If that's your thing, GBS would like a word with you. Okay, so why make this thread?  ideally I could have posted a "when i'm" video here showing the price volatility and resulting suicide notes on /r/bitcoin but I couldn't find one Some of the non-bitcoin cryptocurrencies (altcoins), notably Ethereum, is still incredible viable to mine with GPUs, due to the cryptographic hash algorithms used. ASICs are fast at things like SHA-256 but bad when you need a lot of memory for something like scrypt, which GPUs can handle more effficiently. The viability of Ethereum mining is one of the main reasons that as of when I'm writing this post, the prices of RX 400/500 graphics cards are so goddamn high. People building mining rigs and mining farms (also known as people with more money than sense) are buying them up by the shopping cart load, and right now, it's starting to look like the GTX 1060 and possibly 1070 are next (as of december 2017, lol yeah this is the case). Nicehash's website has a profitability calculator. Plunk in your graphics card and your electricity cost in currency/kWh and it'll estimate an average best case scenario of how much you'll be paid for mining per day, how much it'll cost in electricity, and overall profitability. Anything much older than an R9 290 or GTX 970 is simply not effective for this. You could probably do it on a 7970 (I know there are people who do) but you're getting something in the neighbourhood of 3/4 of an R9 290 for the same wattage. Just something to keep in mind. poo poo, that's like $150 a month on my GTX 1070! IN THEORY. Consider this section the list of caveats. This is assuming that the bubble doesn't pop (which it will at some point), that you aren't paying electricity (my GTX 1070 with the power limit cranked and running at 2050 MHz is eating 170 W doing this, and generating a fair bit of waste heat), that you can sell the bitcoin you get (not really that hard, but again, bubbles), that you already have the equipment to do your mining without spending any money to start. Considering the price to actually purchase and build mining rigs, I will state this again: DO NOT INVEST MONEY IN THIS. This is something that's a neat side thing to get into if your power is cheap, you already have all the kit, and you can get rid of the heat effectively. It's also super important to not become a cryptocurrency cultist over this. It's a bubble, and if you're getting into it, you need to keep that in your mind at all times. It will pop. Don't be one of those people on /r/bitcoin who needs to be directed to the stickied list of suicide hotline numbers when the price drops $700 overnight. (No, that's not a joke, that is a real thing that happens there all the goddamn time.) I am a normal person. How do I get into this? This section was mostly written by craig588, and adapted ever so slightly to fit in by me. First things first: you need a bitcoin wallet. I use Coinbase since it's a reputable cloud bitcoin wallet provider -- just go to https://www.coinbase.com and sign up for an account. You'll get a bitcoin wallet address -- this is what you give the Nicehash miner in order to dump your bitcoin payouts into. Second, you need a miner. You used to have to know lots of technical crap, be watching markets, and carefully choose what you were going to mine. That’s changed with Nicehash, since you’re not explicitly mining anything. It acts as a broker, selling mining power to whoever bids the most, automatically switching buyers, targets, and mining algorithms when better offers come in. I’ve seen it change mining operations every couple of minutes, though for the most part it'll weigh the best offer against the efficacy of different mining algorithms for your hardware. There’s certainly someone earning more money off of it than you’re getting paid (otherwise, why would they be paying for mining time?) but the benefit of not having to know anything makes it attractive. Nicehash doesn't give you a bunch of weird altcoins, just a bitcoin equivalent payout. Third, you need time. Magic internet money is a slow going process, but after a while you'll see the results for sure. I (Kazinsal) use the GTX 1070 in my desktop to mine while I'm asleep and at work for a total of about 16-18 hours a day and that pulls in about $4.50 USD. This isn't much, but I live in British Columbia, where the hydroelectricity is incredibly inexpensive and the conversion rate between USD and CAD is "multiply by 1.35, then cry because your canadian pesos are worthless". My electricity costs per day for that mining is about $0.24 USD in comparison ($0.08 USD/kWh). I am normal and very lazy. How do I get into this?
I want to cash out my bitcoins into something I can use for weird japanese tentacle porno games. craig588 posted:Right now I’m using gyft.com to cash out to Amazon credit which for most people is as good as cash. Steam also takes bitcoins now through Bitpay. I have so much Steam wallet funds I haven’t tried purchasing anything that way yet though. In the US you can cash out using Coinbase directly. QuadrigaCX seems to be the best way to cash out into CAD in Canada. They used to be kind of sketchy but they've solidified and don't need anything weird like your passport to make the money flow, but you need to be moving decent amounts in order to make it happen fluidly. I've been into this before and want the crazy technical details. Lay it on me! This is all out of date and involves the old NiceHash Legacy miner. The new miner sucks less and is basically follow the wizard and start This section was entirely written by craig588. I'm posting it here with only grammatical fixes because he knows a lot more than I do. craig588 posted:I like to ignore Nicehash completely so I have some extra options set up, you only have to do it once and then you can forget about them though so it’s not too bad. Under Settings→Devices/Algorithms click on your GPU and it’ll give you a list of all of the miners in the box below. I have Neoscrypt(experimental) and X11Gost(ccminer_alexis) unchecked, they were unchecked by default for me, but just in case they’re turned on by default for other configurations you’ll want to check if they’re actually turning in mining results when you’re actually running the miner, for me they reported a super high earning, but weren’t actually turning in anything. Now for the magic that lets you ignore it, for all of the ccminer algorithms, add “--intensity= 17” without quotes to the extra launch parameters box. For all of the excavator algorithms add “-ct 1” to their extra launch parameters. Documentation seems bad to poor, but from what I’ve been able to discover in reading forum posts and the official documentation these are the best settings for lowering the priority of the miners low enough that you can still use your computer without significant lag. I’m able to watch videos, view web sites, play 2d games and play light 3d games with the Nicehash miners running in the background with those settings while it made my PC unusable without any extra settings. For intense 3d stuff I still need to pause it manually. If someone has any AMD cryptomining experience and wants to do a writeup, please contribute. I will happily include it in the OP. How do I use this rip off hipsters?  Will I make any money off this?  OP update history: 2017-06-20: Original post by Kazinsal and craig588. 2017-06-23: Added rigberries 2017-09-16: Added happy rollercoaster bitcoin gif  2017-12-08: 2017-12-21: Nicehash is risen (also a warning about cryptoscamming) Kazinsal fucked around with this message at 12:16 on Mar 25, 2018 |
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Jun 20, 2017 22:51
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Fauxtool posted:I have a few questions Coinbase does direct bank transfer (deposit and withdrawal) in the US: https://support.coinbase.com/customer/portal/articles/1148716-payment-methods-for-us-customers Also god drat that's some expensive power. For the 1080 Ti, Nicehash says an average of $8.80 USD/day for 24/7 mining. Subtract the cost of about 250W * 24 hours = 6 kWh of electricity for theoretical running costs (unless you crank the power limit and voltage, then throw in what your actual power usage is in place of 250W. Power usage is pretty much whatever your TDP is * your power limit percentage if you've changed it (so my GTX 1070 at 112% power limit is 150*1.12 = 168 W theoretically, and in most of the mining software it's between 160 and 168 W).
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Jun 20, 2017 23:48
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One of the neat things about Nicehash is that it doesn't really tell you exactly what you're mining (but it's probably eth). Everyone could make a magical switch to some pre-switch fork of eth and Nicehash could handle that fairly gracefully in theory, since you're selling mining power and not selling etherium you're pool mining. e: Also they've been saying they're going to convert to their new proof of stake system Soon(tm) for like, two years now, and apparently other altcoin devs don't even believe it exists on paper. Kazinsal fucked around with this message at 00:39 on Jun 21, 2017 |
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Jun 21, 2017 00:29
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I haven't tweaked Nicehash for my 1070 yet, that's why I do most of my mining while I'm at work or asleep. As for algos being used it seems to be about 50% DaggerHashimoto (Eth) / 49% Equishash (Zcash) / 1% other algos for me on the 1070. Haven't tried plugging my 290 in yet.
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Jun 21, 2017 00:43
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Thanks for the heads up, Fruit Chewy. Might look into that since it's possible that zcash could be more stable long-term as a mining opportunity than eth (see previously-mentioned proof of work vs proof of stake problem). Reminder to all: The Steam summer sale starts soon (rumour is the 22nd), and Steam takes magic internet money via Bitpay now, so if you're taking part in the sale you can skip the "turn it into real money" step there.
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Jun 21, 2017 03:29
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Paul MaudDib posted:Prediction: this thread will end in a glorious blaze of redtext avatars The year is 2018. The place is SH/SC. The cryptocurrency thread has burned to the ground, a spark ignited by ghetto mining rigs full of RX 580s each powered by their own offbrand PS_ON jumpered power supplies, and an argument over whether or not that's up to code. The GPU megathread looks on and mocks. Lowtax laughs, as the avatar storm has purchased him yet another dinner at The Keg. I am never allowed to start a megathread again.
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Jun 21, 2017 04:31
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I haven't read much into the state of memory protection on GPUs but I imagine that it's as bad as early memory protection and segmentation on microcomputers, if not worse. Though it's pretty hard to beat the 8086's "no protection, just a shift-and-add for windowing into a 20-bit address space, but we'll call it memory segmentation" scheme. Or the 286's "we took that, extended it another 4 bits, and separated user and supervisor but now you have to put the machine in a new mode that breaks compatibility with everything else oh and you can't get out of it without warm resetting the CPU have fuuuuun". (The last bit there caused Microsoft's engineers to tell IBM to make the PC/AT warm reset faster so they could use the warm reset to drop out of 16-bit protected mode back into 16-bit real-address mode by trampolining off their own code and not the BIOS.)
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Jun 21, 2017 05:31
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Paul MaudDib posted:The risk is that once infected a single system can spread the infection. It cryptos a share or drops another exploit on your fileserver, what now? Yeah, people need to generally take the possibility of crypto-ransomware very seriously. We had a scare at work recently where a user asked me "hey this dialog looks kind of sketchy and I've never seen it before can you look at it" and my first thing was logging into the switch and removing the data VLAN from their port, even though it turned out to be nothing. The idea of CUDA or OpenCL based ransomware scares the poo poo out of me to be honest.
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Jun 21, 2017 06:44
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hahaha
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Jun 21, 2017 22:30
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wargames posted:Hasn't been posted yet here so HOLY gently caress LOL  Whoever speculated this thread wouldn't last long might have been right. Time for some popcorn
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Jun 21, 2017 23:57
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Coinbase posted:Ethereum Buys and Sells Offline 
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Jun 22, 2017 00:16
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Mine's still $6-7.  ...Canadian 
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Jun 22, 2017 20:01
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Prescription Combs posted:OP needs a picture of rigberries. I am more than willing to have an "if you are building one of these you need to reconsider your plan of action" section in the OP.
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Jun 23, 2017 18:59
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Reminder: If you invest any sort of startup capital of your own into cryptocurrency whatsoever you are a moron and will be mocked as such.
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Jun 24, 2017 01:14
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Tabletops posted:how do i invest other peoples capital into my cryptomining operations With this one weird trick, paypal me $7 to find out how e: gently caress someone already made that joke on this page Kazinsal fucked around with this message at 01:29 on Jun 24, 2017 |
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Jun 24, 2017 01:26
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MaxxBot posted:I'll actually be making enough pay rent after my PCI-E risers come in the mail, but that's only because I owned a dumb amount of hardware before I ever started mining. If the bubble pops in three weeks I'm blaming you.
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Jun 24, 2017 05:28
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 gently caress I'm glad I posted this thread, this poo poo's about to get fun.
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Jun 24, 2017 07:55
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eames posted:I'm hoping it'll last a bit longer so the miners will start buying up 1080Ti that they'll have to sell in 1-2 months. Same. If the timing is right I'll even be able to pick one up with the profits from the magic internet money. This is the weirdest future.
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Jun 24, 2017 08:09
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TomR posted:Nah, this thread is more "There are people paying for poop. I can poop and would like to sell it but I don't want to touch it" "Some anonymous firm in Glorious Peoples Republic of Cryptochina is paying me to poop and there's a farmer's market next door. This is the weirdest loving future."
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Jun 25, 2017 18:02
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metallicaeg posted:Well I'm fuckin out of this dumb game. I created a wallet/account/whatever on coinbase, with nicehash set to deposit in the address given. Deposit showed on nicehash yesterday to that same address that was showing in coinbase (which I verified at least one other time as I had a second PC doing some mining part time). Didn't see the deposit anywhere on coinbase, decided to poke around the site further and saw that it's a completely different address now, so my deposit is sent to who knows where the gently caress. Coinbase generates you a new address for your wallet after every transaction for
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Jun 28, 2017 17:33
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I genuinely don't know if I should fix the OP to say "yeah you aren't gonna break even don't even bother" or just let it sit as is and watch the results 
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Jul 11, 2017 04:58
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Cashed out and bought GTA V.
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Jul 11, 2017 06:39
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The fact there's now over 1000 posts in this loving thread is amazing I expected it to be gassed within a few days
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Jul 11, 2017 23:09
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Prescription Combs posted:Shiiiiit is the resale market crashing? I've inherited my deceased step brothers mining poo poo that I was going to test, clean up, and offload. We've reached peak buttcoin.
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Jul 17, 2017 21:38
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Also things are gonna be lolworthy in buttland now because a couple massive darknet markets got busted hard by the Dutch police today. Millions in illegal transactions, all tracked and IDed.
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Jul 20, 2017 20:41
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I feel like I should amend the OP to say "IF YOU GET INTO THIS NOW AT ALL UNDER ANY CIRCUMSTANCES YOU ARE A loving MONG AND WE WILL MOCK YOU RELENTLESSLY", but at the same time I feel like I shouldn't just so we might end up with someone to mock relentlessly.
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Aug 5, 2017 04:54
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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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Some of the really early 1070s have absolutely atrocious memory that'll just up and fail after around +200 MHz. You might have one of those cards.
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Sep 2, 2017 02:07
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If this thread gets to 50 pages I don't know whether I'll be more disappointed in you guys for unironically keeping it going or myself for starting the loving thing
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Sep 13, 2017 23:42
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Facebook Aunt posted:It's okay, most goons make up for that by not producing any offspring. Good tradeoff imo, can't let those lazy^2 post-millenials have any of my burritos
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Sep 14, 2017 06:23
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Good news though, uBlock Origin has "drop that poo poo" as a default rule for all the JS miners that people have seen in the wild so far. So really it'll only affect people still running ancient adblockers because laziness or none at all because stupidity.
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Sep 25, 2017 10:01
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It is notoriously hard to get actual money out of shitcoins in the great white north so if coincards "has a catastrophic system failure" then looooool that basically shuts down one of maybe three avenues to get goods and services with bitcoin that doesn't require a scan of your passport etc 
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Oct 14, 2017 00:07
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Yeah this poo poo changes so fast my OP is pretty much useless at this point I'll get around to rewriting it next time btc jumps 40% and a bunch of new blood shows up ready to make sacrifices to the altars of Huang, Su, and Armok
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Nov 4, 2017 10:40
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the currency of the fuuuutuuuuuuure
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Nov 7, 2017 22:22
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MaxxBot posted:My friend called me yesterday about building $10k in mining rigs and I gave every disclaimer I could but I think he's still gonna do it Get a consulting fee, and get it up front, in USD.
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Nov 15, 2017 21:46
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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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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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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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Is that with third party miners or no? I've been doing $4/day on a 1080Ti on 2.0 and the idea of drat near doubling that is insane. e: Yeah I'm still seeing 0.00038 BTC/day on legacy. What kind of magic 1080Ti do you own Kazinsal fucked around with this message at 00:33 on Dec 3, 2017 |
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Dec 3, 2017 00:27
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| # ¿ May 1, 2024 13:37 |
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Grab some photos of your house now so we can see a before/after once the firemen are done their job
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Dec 5, 2017 06:16
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