What did they mean by this?

What did they mean by this?

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cnbc.com/2018/01/11/cryptocurrency-mining-puts-electrical-grid-of-small-washington-state-county-to-the-test.html
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i think the people buying that much aren't miners, but scalpers selling to miners

This is what the average cryptocurrency miner looks like.

I HOPE BITCOIN FUCKING CRASHES AND INPUTS MALWARE ONTO THESE FUCKERS MINING RIG AND FRIES THEM ALL. REEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE

>that hair

JUST

MY

fuck off

Redpill me on mining. Do people make real money with this???

>AMD ist bankrupt and finished!

Miners need to be rounded up and executed.

mining is pretty much pointless. its a lot of hassle, and takes about a year to pay for itself, but only if the price of the coins doesn't go south.

and if you speculate on the price not going down, you might as well just buy the coins directly, which is more easy and profitable

oh look, this thread again. People will bitch about prices and autismos will lie that they are making money while mining.

BITCOIN FUCKING SHITS

INFRINGED

From what store did he bought this
Did he just go in and said
>Yeah I'd like 100 GPUs please

>People will bitch about prices
I'm certainly not bitching. Both of my GPU's are currently selling for mor than twice the price I paid for them. This is the first time I've felt like I've built a computer without burning my hard earned cash.

SHIT

UP

The guys selling the pickaxes do.

That RTG is swimming in cash they barely deserve.

The classic just /biz/ my shit up haircut

This.
During the gold rush you sell pickaxes to the retards who are willing to die in the middle of nowhere and lose all their savings while in search of their fabled motherlode.

>about a year to pay for itself
>implying

With ETH, it's about 4 month ROI at the point in time.

Aaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

>wasting tons of electricity to mine made up money

Satoshi is going to ruin the environment

Global heating 2.0

It's winter, you've gotta heat your house somehow, might as well get some shitcoins out of it.

Only money is mining some coin and waiting coin price up 10 to 100 times, etherum two years ago or bitcoin 5 years ago happens.

I remember some hardware fans selling bitcoins for less one dollar 7 years ago ... guys are on suicide watch

comfy reading this thread, tells me i got plenty of time to mine

btw I hope you bought items on ethercraft, only a low iq board would pass on free money

A 10x 570 rig will make ~$1200 a month, electricity cost included, calculate other setups yourself on whattomine.com.

Yup, that's where the saying came from.
Pickaxes in this case are the GPUs and gold is crypto.

NO NO NO!!!!!!!!! GIVE THEM BACK NNOOOOOOOOOWWWW!!!!!!!!

Are you -actually- making real, tangible money (read: cashing back out to USD) with mining?
Extraordinary claims like 1500 bucks per month we see everywhere also need extraordinary proof, or is almost every single miner really just hoping that he'll one day stop mining at a loss?

Why is It in a pool room?

That's clearly store security though, given the earpiece. Whoever's buying the cards is hidden behind him.

...

What you earn depends solely on how much you have to pay for electricity
If you pay nothing for electricity then cryptocurrency is pretty much printing money

Why are Sup Forumsaymen mad that their previously useless toys now literally pay for themselves?

I find it really hard to believe that crypto-mining can be profitable enough to warrant spending $20+k on graphics cards.

I thought the cost of electricity alone was too high to turn a profit.

That was before the market went from overhyped to "literally tulips".
Even Dogecoin increased 50 fold in value in a year. There are Dogecoin millionaires now.

did you set this shit up at a public gym?

Dunno, maybe tjey put six of these in their anus for joy?

>falling for a giant ponzi pyramid
Yeah, just remember take your money before shit goes down

>implying nothing is going to happen in the next four months but the continued growth of eth and linear efficiency of mining. that's without the change in proofing model that'll make mining worthless overnight.

sit tight lads. in 4 months the second hand market will be flooded people looking to offload high end GPUs for any kind of return.

because youve taken these wonderful pieces of tech and set them to smashing arbitrary rocks, a value set by the amount of other people alsk smashing arbitrary rocks.

why can't they base crypto on how many cocks you can suck a night? just as arbitrary and at least you'd enjoy it.

BTC is currently crashing down so most of these will probably be cheap, barely used, second hand soon.

>1500/month
try 1500/week

everytime lmao

No, it's a suposed jacuzzi room, something you hashlets wouldnt know about.

>>>whattomine.com
Enter GPUs at top, hit calculate, copy paste hash rate into calculator that opens if you click the first coin that shows up if you scroll down. It'll give you approximately how much money you can make.

>barely used
>running 24/7, max load

pick one

I mean the people that are just recently buying these new cards and probably won't even have there shit setup before this breaks below the logarithmic trend line.

running constant algos is nothing besides temperature for your gpus, I keep them under 65C, 58 on cryptonight. They can last a lifetime with new capacitors

can you even mine anymore at a level no requiring an entire farm worth of silicon and bits

this is the last generation of gpu people.. games will be offloaded onto server/cloud render farms and via internet to your pc/vr headset

this is the last gen so appreciate what you have right now

It already is... BTC peaked at $19k in december. It's now at $13k and behaving as if it wants to trend down and test $8k. If you ever looked at vol charts you'll always note how many idiots pile in at peaks. So, had you bought $100k worth @ 19k you're now sitting on $68k. Everyone brags about the gains no one brags about the losses... As for miners, as they are paid in coins, their profits tank with tanking coin valuations. Waste of resources to see who can sell off to the bigger idiot before it all comes crashing down. Like roaches they flee to newer coins once one has been pumped for all its worth.

Someone sees what I see.
Indeed, both Radeon and Nvidia pushed out production so as to starve out the market and make the cost of owning a standalone painful enough so when they relaunch the meme-compute cards they'll demand pro-level card prices. Nvidia's Titan V cost $3k.. Dam near double what the previous one costed. That's a clear indication of the shit they're gonna pull on the consumer cards. Radeon literally abandoned production and is only pushing APUs like Intel and Nvidia. Writing's on the wall.

that's why pre mined is the future. this mining crap is nothing but a useless waste of resources.

>1050 Ti
>free electricity
>$100/mo mining altcoins

seeing AMD being that abrupt about their decision and not talking about what is happening right now makes me the most anxious about this.

everytime they pull this shit. they panic in uncertainity and first attend to their own press event to generate certrainity to their own new solutions.. with big chances being fucked over by nvidia again

Ripples down 25% from the start of the year.
There is no such thing as something for nothing. Everything in this universe is a conversion w/ loss. Nothing is being achieved by a single one of these coin systems. Current fiat currency has its issues.. People could instead focus their time, energy, resources on that.. However, dumb goys wanted the easy way out thus why you're ultimately gonna get (((jewed))).

>BTC is currently crashing down
Is it? Guess it’s time to buy.

Premined is a scam and everyone knows it.

They're all colluding as far as I can see. They want to relegate GPUs for gaymen to a fixed market segment w/ elevated profit margins or perpetual lease contracts (APUs and cloud gaming). They then want to push standalone GPUs into a new higher margin segment related to compute. What's occurring right now is an industry wide re-alignment. Not a single one of them is doing non-niggerish things. Everything went radio silent and future standalone GPU production pushed out .. Meanwhile they don't seem to have wasted a minute pushing APUs/Cloud gaming/Big fucking Gaming. What they're doing is clear but its ultimately gonna cost them as its not going to pan out the way they expect.

Post your average entry price and tripfag on follow up posts so we can point to examples of idiots who say shit like this who end up in the red.
> mfw btc pulled back from $19k to $16k and dumb fucks bought the fuckign dip
> mfw btc is at $13k and yet no one will admit they're $3k in the hole praying it goes back up.

> Backs up truck at $16k .. buying $100k worth of coins
> currently only has $68k
> suddenly becomes dead fucking silent

>tfw the budget video card I bought THREE FUCKING years ago is more expensive today than when I bought it...

Wat?

$12.86
:^)

actually i always really liked the idea about APU and what AMD said how hetereogeneous compute abilities can increase physics calculation by a large factor in companion with a discrete gpu and dx12.

this could also help alot with getting console optimisation to the pc i guess.

but this shit is a huge industry shift to pull off.. glad that dx12/mantle/vulkan happened though, this is a nice base to start with.


and yeah, you can depict wjat recent news intel/amd/nvidia have in their mind right now.

the costs are tremendous to make drastic changes in an industry that's for sure. but being industry leaders, money is not the issue here i guess.

This was true for me. Bought a 1080 ti and two 1070s in June, was profitable in early October. I sold as I went along. Had I just saved I would have paid it off sooner.

I haven't sold since then and I've made my investment back twice since then. I can also sell the cards used for more than I paid for them new.

I paid $350 for my 1070s and $700 for my 1080 ti. All are MSI Gaming 8X or whatever.

not him but yea

i had to move my miners from my home to state Washington at a friend's home since the electricity rates are better there

yes i pay my taxes

Retard, Bitcoin has ASICs being developed for sha-256. Go shit on lite coin or something

Cool story. I entered at 0.01 and got out at $19,986.
> mfw yahoo finance forum redux.. everyone's a millionaire but in reality they're broke fags who are in the red
HSA is a meme. In reality it already exists except at higher latencies. Infinity fabric is nothing more than a stripped down PCI-E bus running a proprietary protocol. In data centers, they already have interconnect buses that operate at speeds greater than infinity fabric at lower latencies. The tech already exists they just don't want to want to release it to consumers in order to protect pro margins. So, heterogeneous compute already exists... It's just being slowed due to profit whoring.


> and yeah, you can depict wjat recent news intel/amd/nvidia have in their mind right now.
>the costs are tremendous to make drastic changes in an industry that's for sure. but being industry leaders, money is not the issue here i guess.
My thoughts are that the current giants are going to make huge missteps being greedy trying to jack up margins on consumers and delaying "pro-level" tech's affordable spread to consumers. There's features that are decades old that costs a few dollars that they still refuse to put in consumer cards. I don't trust these niggers in any degree to usher in HSA in a meaningful timeline. What's really going to happen is PCIE 4.0 is going to come out and competition is going to blind side them in compute. They're gonna tuck tail back to gaymen but will have destroyed the market btw w/ their nigger tier antics.

Here's the effect of your nigger tier greed :
> cnbc.com/2018/01/11/cryptocurrency-mining-puts-electrical-grid-of-small-washington-state-county-to-the-test.html

Likely going to raise electricity prices for everyone and cost billions in infrastructure because you want to make something for nothing. As is clearly evidenced over and over, this shit is a cancer on the energy grid and for computer resources.

The key thing for everyone to remember is that no money is being made as nothing is being produced. It's a ponzi scheme in which new money is taken from new comers, given to old, and some dumped off to the cancer that keeps the lights on. When it goes tits up and it always does, the net wealth produced will be zero as those holding the bag will realize the losses will offset the money they transferred to those who sold to them.

I have an RX 480 8GB card and an 8 core Ryzen

what should I mine? (my parents pay for electricity so it's essentially free)

about the interconnect buses, i'm not that keen sadly but i believe you.

you're absolutely right in not trusting any brand. maybe they feel like the technological industry rushed it a bit too fast and have a strategy at hand to slow it down a bit. i'm still amazed what happened since the first iphone in terms of display technology for example.. not to mention the AI and Blockchain boom.

spare your ressources, it's not worth it to drastically decrease the lifespan of your gpu if you game in this regard. the mining craze is over, unless you are able to fork your own shitcoin and pre-mine it. then promote it and maybe it will have value that is worth sticking to.

>had 70k doge mined early on
>kept it in wallet
>open it up
>gone
>worth $840 today
my pass was not strong enough?

>if everyone buys bitcoin we'll all be rich!!!

man these corporate fucks can't be real can't they..

first they say we gonna increase because everyone is using energy saving lamps in this decade so we cannot cope with the loss of finances to keep everything maintained.

now they say that they are too occupied because of miners? what next... man fuck the system

where did you save them. in an online wallet? on your computer?

if it was your computer, then maybe you got a rootkit installed or you simply made an error whilst saving the wallet.dat

>user WHY DID MY ELECTRICITY BILL GO UP
>m...mom I'm just m...m-mining coins

no thats just the self importance you see

>MUH GAYMES!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
>REEEEEEEEEEEEEEEEEEEEEEEEE

It's not gone, you have to download the entire chain in your client to see it.

Everyone is fucking the system that's the very issue..
No adults or responsible stewards of the earth left... Just ponzi schemes and scams to try to get ahead of the next guy by pushing them down. As for straining the electricity grid.. No, electricity grids aren't designed to have AC like loads running 24/7 in every fucking house :
200W per GPU x 5 = 1kw
200W per GPU x 25 = 5kw (approx the amount of power an AC unit takes)

You read the nigger whose moving his grid to washington due to electricity rates being low? You think that small town electricity company has capacity for this shit? they don't. Power companies don't just have 5x the average per house load sitting around dormant. It's a cancer and no one running these shitheaded mining operations cares because they're all clearly niggers.

There's a reason why china of all people is shutting this shit down in their country.

cuz they smart?

> the fuckin earth
> Energy cancer
> Electrical Grids and infrastructure
To support a fucking ponzi sceme that adds zero value to the planet/society. You don't need to discuss the broad cancer this is for computing to justify its termination. It's waste of energy is enough.
> When the REEing stops
> When the weather cools
That's when you should be worried

Because they're niggers who aren't smart. Because all niggers care about are themselves because that's all their low IQ allows them to perceive.

wuz talkin bout china

i dont think you understand what greed means

thanks for the $0.06/kWh electricity though

if it goes to shit ill move it to utah

Disregard post then and yes, they seem to understand what a cancer this shit is given that they're already choking on the toxic environment that exists due to actual production.

I don't think you understand what you've all invited on yourselves by your nigger tier disregard.
> if it goes to shit ill move it to utah
There's nowhere you can hide on the internet or in a distributed network of chodes. When it goes to shit, you'll know and you'll be impacted no matter where on earth you are.

>creating and securing value is a waste guise
>if i call it a ponzi scheme enough times maybe it'll work

Fuck off shlomo

>ponzi
>pyramid
Those are 2 different things you retarded no-coiner

>There's nowhere you can hide on the internet or in a distributed network of chodes. When it goes to shit, you'll know and you'll be impacted no matter where on earth you are.

what are you talking about

ive already made my investment back, everything else is fun money, this is a hobby

ill just give my graphics cards to friends if value went to zero tomorrow, then sell the rest for whatever the current value is

offline wallet.
downloaded the whole blockchain.
i checked blockchain, doge was sent away during my period of inactivity.

a year+ of inactivity. didn't even have doge wallet installed.
I'm guessing bruteforce or I used the same password on a pool somewhere. i'm retarded.

oh well.

i have had a btc, ltc and doge wallet for 4 years now and had a virus infection some months ago, my wallets remained untouched till now

> Ledger friendo
The thing that has been tracking you collective dumbasses from day one.
I guess you didn't take the tutorial on computing 101.

cant wait until all these miners are dead.