Mining ether, anyone else here partake?

mining ether, anyone else here partake?

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ethermine.org/
uasf.co/
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me but with 1070 cause guys like you bought all radeons

hey im looking at getting into it whats the best site/ best way to start iyo??

you just gotta get a bunch of graphics cards and start mining

go to this site
ethermine.org/
and its all fairly self exploratory

buy/build a mining rig case, fill it with rx 470/480 or gtx 1070, 1200w platinum psu and a motherboard with 6 pcie slots => earn money!

Or order riser cards off aliexpress as low bandwidth.

And around how much$ you make after power bill a month??

can you realy compete with something like this?

or this?

better off just buying and holding

>cabel management

...

>2017
>mining with gpu

If you aint mining with ASIC mining hardware you are wasting time and money you will never see back.

send me one pls

what is mining ether ?

Which miner would you suggest for mining Ethereum if not a GPU?

Virtual monies like bitcoin

>Ethereum
Anything ASIC will smash GPU on speed and power usage. It will take you about 2 months or more to pay off just one card. Not including any other costs

care to sell one of those before you start mining on it?

>mining alt coins
Smart money invested months ago son.

does that become real monies

Recommend a product then please.

2017
Mining at home

2017.6
Mining at work
No energy cost

>eth
>asic
Wanna know how I know you're retarded?

Use fucking google!! Amazon sell the fucking things, i dont think you have a clue what you are doing

Ethereum is intentionally designed to be hard to mine on ASIC miners.

Please name the product that will outperform GPUs at Ethereum mining.

>Ethereum

Because ethereum doens't allow for meaning it cant be done?

jokes on you when you decide to get out and try transferring all that money into your bank account

if the algortihm is bad for asics it is also bad for gpus

Why don't you just name one? I say you can't because there is no ASIC miner that performs better than GPUs for eth.

>Geass P1-200

Why would he have a problem?

Reality does not seem to mind your personal opinion.

Can you tell me up to how many hashes your getting and what is the return on investment so far?

fucking noob, you don\t mine quark or scrypt algorithms with ASIC miners

>Implying I don't know about the compulsory IRS reporting over a certain amount
You could make an asic for eth but it wouldn't be any faster than GPU mining due to memory issues.
Geass and pandaminer are essentially boards with a lot of mobile GPUs slapped on, they're not real ASICs.

The thinking here is that ether is memory intensive and GPU tend to carry lots of memory nowa days. Thats its, not magic or crazy shit. Thats why its hard to make asic's for ether. Its not impossible and when its done correctly we will have another piss poor bitcoin clone

Dude that is literally a case with multiple GPUs in it.

> investing thousands of dollars in a centralized shitcoin that can be arbitrarily hardforked by the lead developer any time, which he actually announced to do, making your investment completely useless within seconds and that actually has precedence to such an occurrence, i.e. the The DAO fiasco.

ishygddt

is it possible to mine with nvidia?

last time i mined was back in 2012 when you could still mine bitcoin with gpus and i was running a dual 7950 rig.

I was referring to you actually being able to withdraw anything substantial without having issues i.e. them actually paying out.

Yeah I mine ether.

I was swapping/exchanging it for bitcoin cause I thought bitcoin was more stable.

I'd mine a few ether then exchange it.

I would have $7,500 worth of ether right now if I had just fucking held on to it.

Well at least I have a fraction of a bitcoin...

I've been tempted to buy some shit on newegg with it. But I don't want to be like one of those dipshits that bought a pizza with whats now worth half a million in crypto.

It would be nice if I could find an up and coming shitcoin, buy a shit load when it's still at $0.00005/coin then sell it at $2/coin before the price drops when people realize it's a shitty clone of another shitcoin.

Don't get me wrong Ethereum is not a shitcoin, but I still don't trust the stability of it's price.

Oh really? You want to make money? Thanks for telling us.

>It would be nice if I could find an up and coming shitcoin, buy a shit load when it's still at $0.00005/coin then sell it at $2/coin before the price drops when people realize it's a shitty clone of another shitcoin

That's literally the crypto market right there

You don't need a hardfork to make all the miners useless.

He said there will be a switch from PoW to PoS eventually.

Good luck mining when it's PoS, impossible unless you already have a shit ton of coins.

I think the PoW to PoS switch is going to be a hardfork. One of many he has planned.

Whats the significance of a hard fork?

>investing in something that can be manipulated by a jewish fart

wew

It's a protocol change that's incompatible with the previous blockchain. The point of a blockchain, is that you drag agreed upon reality into the present block by block. A hardfork does "agree on reality" outside that mechanism (for example set by a benevolent (?) dictator like Vitalik), making it way more insecure and dangerous than a softfork, which is a protocol change that's backwards compatible. Also, a blockchain that has a (benevolent) dictator might as well be a conventional database.

bro plis plis sell me one of those pleeeeeeeeeeeaseeeeeeeeeeeeeeeeeeeeeeee

Because of these fucking retarded assholes I can't get an rx 580 and complete my build

yeaa, fukin faglords, hope u get fked.

In english?

How do you establish which version of a shared database is the correct one, when the communication between you and everybody else is potentially compromised, i.e. is an insecure channel like the internet?

You make it expensive to vote, which means in order to cast a vote, you have to use physical resources (electricity, your CPU,...) by computing hashes. One hash is one vote, whoever hashes the fastest, decides on the next portion of the database. The idea is, that a nefarious actor would have to outspend all of the rest of the network combined, which is expensive and against his own interest, because if he used the same resources to just vote normally, he'd earn money doing so.

A hardfork is a decision on the next portion of the database that came to a vote outside that mechanism of having to use actual resources. Suddenly it's, who has the most influence, who has some special keys to strange backdoors and so on.

A blockchain, this decentralized database, is only valuable, because there isn't one single entity, like a lead developer, who can just decide what state the database should be in, because he might do it "for the good of the people", but if he can do it, he can be bought or pressured by bad actors, like the NSA too.

People get upset by bitcoins slow development and upgrade model, but that's a feature, not a bug. We don't want anybody to have the ability to do what Vitalik can do with Etherium. The price for that is relatively slow (but very secure) development and everything that's a consequence thereof. Right now, that would be relatively expensive transactions, like $1 or so, but it's the price to pay for censorship resistance and resilience against bad actors.

Thanks man. When you say "we" talking as a miner?

No, I'm talking as holder of bitcoin. Bitcoin is the "buy and forget"-crypto. You buy it, you put it into cold storage and come back again 2 years later, finding it's worth 1000% more now than when you put it away. For me, the main usage is store of wealth, only second to that and only as far as it's necessary to achieve the first, is medium of exchange.

That's my plan, got some eth, I'll hold on to it for a while. Ever tried to cash out btc ? Into an account or something.

Good luck, but Etherium isn't really built for that. For starters, it has no limit on ether, so it will have infinite inflation. Bitcoin has a hard coded limit of 21 million units, so if you buy one bitcoin, you know that you'll have a 1/21 millionths of all bitcoins that will ever exist. If you buy 21 bitcoins, you know for a fact, that you'll be one in a million.

In addition, Etherium has that benevolent dictator problem. The developers already made use of that, when they found out, that the code of their first DAO had a bug leaking money. Before that, all the jazz around Eth was how code is law, and whatever a smartcontract says is what's going to be executed, which sounded cool. But as soon as it was in their personal interest to undermine this principle, they did so, forking into Etherium and Etherium Classic. From that moment on, they destroyed whatever value proposition it had, because apparently "code is law" is only true, as long as it's in their interest.

A comparable breach in bitcoin world would be the elimination of the 21 million cap. But again, there is central point of decision making, someone who wants to fork into such a bastard-bitcoin-chain, would have to outmine the whole network, while simultaneously losing money because the price crashes.

I meant to say
> But again, there is NO central point of decision making [...]

Cashing out: that's easy. Just register with an established exchange, undergo all the procedures so they know you aren't a money laundering, pedophile terrorist and that's it.

I'm not cashing out, tough. I'm cashing in, meaning I'm still buying (and have been since 2012).

Hmmm ok, thanks for the info dude. I need to investigate further. Bought $4000 worth of eth when it was at $40, looking good so far but havent checked it in a few days. Do you know what the significance of 1st august is? Something big will happen?

First one was bitcoin asics second one was bitcoin fpga... so yeah can compete ezpz because dagger hash is not sha256

I thought the current state of mining was that it takes more money to pay for the electricity to run the rigs than they can make? Has that changed? How long you pay off the rig and actually be profitable?

Nice gain.

Regarding August 1st: uasf.co/

I have no idea how this will play out. I'll just hold my bitcoin in my own wallet (not on an exchange, you have to have the private keys) and see what happens. The price will go down, that I'm pretty certain of, but you that's normal in bitcoin world.

my boss does this

Which wallet do you use? I had a lo9k at exodus, it looks good but not fully open source yet

For long term holding, I just made a bunch of paper wallets, from Ubuntu running from a USB thumb drive (unetbootin.github.io/), not connected to the internet. I put the bitaddress.org-ZIP file on another thumb drive and opened it from within the offline running Ubuntu.

For spending money, I use Mycelium on my main Android device.

>For spending money, I use Mycelium on my main Android device.
Careful don't pay 2 million dollars for a pizza

lol, thanks for the advice ;) I always rebuy instantly, usually more than I spent.

/biz/fags thinking they'll get rich this late in the game.

The fact that securing ones bitcoins is still a major PITA that needs half a CS degree to even be feasible means, it's not late in the game. In internet-timeline-terms, we aren't even the AOL time of the internet, not to mention the Amazon and Google time.