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 LATEST TOPICS |  FORUMS » GENERAL DISCUSSIONS » WHY IS BITCOIN SUCH A HOT TOPIC OF DISCU...
Subject: RE: Why is bitcoin such a hot topic of discussion right now?
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Coach_ Jun 21, 2017 02:37 PM Reply | Bookmark
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Quote: (vcmh u Jun 21 2017, 02:26 PM)

I'm new to this bitcoin thing.

How would I get started? is there a guide to follow? Is the mining purely based on GPU?

Are those pre built miners any good?

Any assistance would be greatly appreciated. Thanks


I am not mining BTC rather alternative coins.

I would start with Nicehash, download it. I assume you have a GPU to mine with??? Guides on youtube I would think, it is pretty easy. Mining is mostly on the GPU, one can use their CPU but IMO there is no point.

Prebuilt ASIC miners I know nothing about. I think they are mostly for BTC and LTC mining....

Hope that helped. Others, please correct me if needed.

This message was modified by the poster at 06 21, 2017 02:38 PM

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Entz Jun 21, 2017 02:51 PM Reply | Bookmark
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+1 to services like nicehash or even multipool ( let someone else figure out the best thing to mine). Money is in alts as Coach said, been like that for ages.

If you care to plug some numbers : https://whattomine.com is a great resource. Be aware of random downloads from the net, stealing hashing power and infecting computers is a huge business these days.

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coachmcguirk Jun 21, 2017 04:02 PM Reply | Bookmark
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Aorus XE 1080ti's are going for $1600 on amazon right now lmao... Apparently they're the best cards to mine atm. They run on average at 60-62c 24/7 which is amazing compared to MSI's variants which run at a blistering 83c!

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Mr. Friendly™ Jun 21, 2017 05:00 PM Reply | Bookmark
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best is difficult to quantify. yes, they have the highest production levels, but at significantly higher entry costs and power consumption levels.

1080 Ti's have a 90 - 100 day ROI while the 1070 is only 75 days.

that said, the metrics add up...1080 Ti's are 2x the price of a 1070, 2x the production capacity and 2x the power consumption (almost).

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Westcoast Jun 21, 2017 06:07 PM Reply | Bookmark
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I keep reading about these guys that invested / mined bitcoin years ago at pennies on the dollar and now are millionaires ! I actually started mining 5 or 6 years ago for about a week or two than I figured, screw it, not worth the hassle ! Aww shucks ! Looks like there another small rush for consumer GPU's after asic's took over, guess I'll fire it back up !

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Mr. Friendly™ Jun 21, 2017 06:44 PM Reply | Bookmark
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go with NiceHash West.

what GPU(s) do you have right now?

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Westcoast Jun 21, 2017 06:49 PM Reply | Bookmark
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Yeah I see nicehash is the goto right now. I have an old GTX 470 ! Not worth mining with especially vs. power draw ! I'll be buying a new card this weekend of dat used vancouver site ! $200-$250 ish. Maybe a GTX 1060.

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Mr. Friendly™ Jun 21, 2017 06:51 PM Reply | Bookmark
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good luck mate. nigh impossible...everything is snapped up/gone the moment the post tells the ad to go live.

BB is allowing you to purchase 3 1070's from their stores...$550 each. dunno what stock levels are, but they sold out online almost instantly.

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Westcoast Jun 21, 2017 06:58 PM Reply | Bookmark
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Lol, yeah damn theives on the classfieds trying to profit from my potential profit ! Ah well, i'll scoop something up ! Don't want to spend $550 though, I'd be eating rice for two weeks !

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Mr. Friendly™ Jun 21, 2017 07:09 PM Reply | Bookmark
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throw in some black beans and you'll have gallo pinto! which is actually quite good when you mix i some eggs and cheese.

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Westcoast Jun 21, 2017 07:19 PM Reply | Bookmark
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Hey, and rice and beans equals a full amino acid profile ! (obscure vegetarian bodybuilding reference)

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vcmh Jun 22, 2017 10:37 AM Reply | Bookmark
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This is the computer i have

Coolermaster 690ii Computer Case
Asus M5A99X EVO R2.0 Motherboard
AMD-FX 8120 eight core Zambezi AM3+
8GB DDR3 Corsair ram
SanDisk SSD 128GB (Primary/os)
Corsair TX650W Power Supply

I was looking to pick up 2 x MSI GTX 1070 8GB DDR5 Armor Edition video cards. Will the power supply be sufficient?

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Mr. Friendly™ Jun 23, 2017 05:26 PM Reply | Bookmark
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hey v, yes, more than sufficient. a 1070, at max power is 175w...but if you follow the instructions provided in that link by Vortex, you can maximize production at 31 MH/s per GPU at 110w each, or 220w instead of 350w.

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coachmcguirk Jun 25, 2017 03:47 PM Reply | Bookmark
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Global rate is down to 1.9 mBTC's. It was fun while it lasted.

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Entz Jun 26, 2017 09:32 AM Reply | Bookmark
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Quote: (coachmcguirk @ Jun 25 2017, 03:47 PM)


Global rate is down to 1.9 mBTC's. It was fun while it lasted.

Indeed, seems about 30% drop  in profitability (for me at least).

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Mr. Friendly™ Jun 26, 2017 11:08 AM Reply | Bookmark
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because, as with stocks, cyrpto currencies are volatile. Ethereium was over $300USD last week and today it's under $3USD.

it'll spike again, so make sure you're mining and will benefit when it sky rockets once more.

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Coach_ Jun 26, 2017 11:53 AM Reply | Bookmark
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Quote: (Mr. Friendly™ @ Jun 26 2017, 11:08 AM)

because, as with stocks, cyrpto currencies are volatile. Ethereium was over $300USD last week and today it's under $3USD.

it'll spike again, so make sure you're mining and will benefit when it sky rockets once more.


If you are as sure about that as you sound you would be a FOOL not buy ether at $3 and forget mining altogether. I will say that I have no idea what the future is and these dips suck ALL of the fun out of mining.

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Entz Jun 26, 2017 12:05 PM Reply | Bookmark
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Yeah the massive drop  was only for an extremely short period of time and a lot of proper exchanges halted trading. Its about 248$ US right now. Which is not the 360$ ish it was which is where the main pain is coming for those who are not rocking pallets of 1070s/480s :P

But yes, tis the nature of the wild west style of market. This is typically why I prefer to just have everything converted to BTC (i.e. nicehash). You win some you lose some but it is far more stable then riding the wave.

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Mr. Friendly™ Jun 26, 2017 06:23 PM Reply | Bookmark
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converting to BTC is good...but only if you bought Ethereum when it was $2USD and then flashed back to $200USD. LOL!

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Entz Jun 27, 2017 09:19 AM Reply | Bookmark
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Are you mining to hold or to cash? Holding eth in a wallet, then needing to transfer it to an exchange, then sell it, can cost you a crap load of money due to time taken if it swings or drops massively like it did. My 2c anyways :D

What pool are you using out of curiosity?

This message was modified by the poster at 06 27, 2017 09:20 AM

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vcmh Jun 27, 2017 09:36 AM Reply | Bookmark
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Thanks for the reply. I decided to go a different route I purchased 2x EVGA 1080's and built a new Ryzen X6 computer. Both cards are running at 77 degrees. I also wanted to get back into gaming. Hopefull I can make some $$$

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Mr. Friendly™ Jun 27, 2017 09:44 AM Reply | Bookmark
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hey Entz, due to issues I'm not up yet...but should have two rigs with 4x GPU each tonight.

I'm planning on running NiceHash, which auto-converts to BTC...though I may run a few GPU on Eth and/or Kraken.

I hope to get another 4x 1070 soon so I can run the 12 the mobo's can support.

hope I can get my hands on a couple of them Asrock H110 BTC+ mobo too

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Entz Jun 27, 2017 09:52 AM Reply | Bookmark
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Crazy, I love it lol.

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Mr. Friendly™ Jun 27, 2017 06:17 PM Reply | Bookmark
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these delays are getting rdonkulous!

not up yet...however, I just secured 2 more cards. 10 in total now.

I will have quite the space heater soon!

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Coach_ Jun 27, 2017 06:23 PM Reply | Bookmark
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pics or it did not happen

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Coach_ Jun 27, 2017 08:40 PM Reply | Bookmark
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... I am rather interested to this up and running.

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vcmh Jun 28, 2017 08:26 AM Reply | Bookmark
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Mr Friendly, how are you cooling all those cards?

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Mr. Friendly™ Jun 28, 2017 08:28 AM Reply | Bookmark
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how does one go about figuring out how many joules suppression they should have on a power bar?

each PC will have access up to 1500w with 1x 850w G3 and 1x 650w G3, daisy chained.

thoughts/recommendations?

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Entz Jun 28, 2017 09:46 AM Reply | Bookmark
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It is really just a measurement of how much of an incoming surge the bar can take. Higher is better , but honestly in that vast majority of cases it is a useless rating. A true "surge" will blow up everything connected as it will overwhelm the protection (billions of joules) and small ones are easily handled by modern computer power supplies. Getting a good quality one matters more as a lot keep working once the protection fails or they go over their absorption range. If your are worried about true surges/lightning strikes it is best to get a proper one installed in your panel or spend the silly amount of money and get an enterprise Double Conversion On-Line UPS.

Edit: Should add though, since they are cheap, one of the best rated is the Tripp Lite TLP1008TEL . Will do everything you want and will properly die and sound an alarm if its protection is compromised unlike a lot of others.

This message was modified by the poster at 06 28, 2017 09:49 AM

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vcmh Jun 29, 2017 11:58 AM Reply | Bookmark
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Ok, I have a couple of questions...

I have set up a wallet with Bitgo, how do I access that $? can I transfer to my bank account?

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