Ethereum GPU mining?

[DrMrLordX]

There also appears to be manipulation on Poloniex (large sell walls?) to drive the price down. I'm not a trader though so I won't pretend to understand this other than it supposedly negatively affects the price on purpose so "weak hands" get out by selling whatever Ether they have and the wales buy it up.

My, the Welsh are a clever lot.

 

[suklee]

It'll probably keep falling slowly until the back log is cleared out and syncing the blockchain is back to normal. I think I'm going to put in a few buy orders soon

Almost bought in at $10 and glad I didn't, lol. But I am planning to make some buys soon as well

 

[lienad216]

Is it too early to buy?

 

[Madpacket]

Hmm, looks like it may have hit bottom. Price has stabilized and is starting to trend upwards. This is why I hate trading!

 

[Madpacket]

Is it too early to buy?

Don't take my advice but if you do, the time to buy is probably now however I would probably wait another 4 - 5 hours to see what happens as it's still early on the east coast. Usually with this kind of uncertainty I'll put in multiple buy orders starting a little lower than market price, and then a few more at even lower values stopping where I think bottom will be. This way you don't just have to rely on guessing bottom, and you can average out the buys that do get filled even if that last one or two buy orders don't get filled.

I'm sure a more experienced trader would read this and scoff but this method has worked well for me in the past.

 

[lienad216]

Pretty sure I've seen that method mentioned somewhere whilst reading (passing by) about trading and how to read the exchange charts...

I actually bought already. And in 4-5 hours I'd be asleep (or I should be). lol. Trading: hindsight is 20/20

Do you think it will drop some more?

 

[Madpacket]

Actually just read this.

https://twitter.com/vitalikbuterin/status/803858020254027776

State clearing complete. So yeah you bought at a perfect time, good job! It should creep up today.

 

[lienad216]

I think I bought it at 0.0108 or so.

Beginner's luck FTW

 

[Madpacket]

Is it worth it to go over all these difficulties over best case scenario $100 worth a month? I mean i were living in south sudan or something i would consider that, but in the west? How about finding a real job and stop wasting time with this non sense?

Although others have responded I'll chime in.

I'm pretty sure we all have "real jobs" here, and I agree with others that this is primarily a hobby.

Building and tweaking miners is a ton of fun and even though this is a hobby, its one that's been paying dividends. I mean we like to build and tweak computers anyway, so getting paid for it is icing on the cake. It's not practical to turn this into a full time job unless you have access to free or nearly free energy and the space to rack a few hundred cards.

I will also state if you're paying 10 - 15 cents per KW, your best case scenario of earning only $100.00 is pretty far off unless you're only mining with a couple cards. I recommend visiting the following site to get an idea of what earnings can be, it may surprise you.

https://whattomine.com/

There's a good reason this thread hasn't died after 100 pages (and another thread on ZEC mining is growing slowly). I'm pretty sure we've requested a dedicated forum for mining to keep out of the video card forums but there's some caveats in doing that. Anyway before you slam us for enjoying a hobby that pays you, maybe try getting involved and see what all the fuss is about Many of of us here will gladly help you out.

 

[poofyhairguy]

Although others have responded I'll chime in.

I'm pretty sure we all have "real jobs" here, and I agree with others that this is primarily a hobby.

Building and tweaking miners is a ton of fun and even though this is a hobby, its one that's been paying dividends.

Exactly.

Plus when you think about it these GPUs weren't built for mining, they were built for gaming and graphics. A lot of us here would have nice GPUs anyway for those reasons, so why not make a little money back for hardware you already have?

Heck part of the reason I am mining on a AMD 460 isn't because its a max ROI card, but because I know next year I was going to buy one (or a rebranded AMD 560) for a HTPC anyway. Every single card I have bought for mining either I have plans for down the road, will be easy to sell even when other people are dumping cards, or I got so cheap that I easily made more back than I got it for mining.

Plus I don't know about the rest of yall but I think its cool being part of what Ethereum might be. Bitcoin was always kinda boring to me as a concept (I am not a drug dealer), and too much of cryptocurrency is focused towards a tunnel vision about what Bitcoin ended up being used for (such as Zcash or Monero helping drug dealers). Ethereum COULD (no guarantees) be a new way of having complicated organizations without the need for a state entity to enforce fair play between the stakeholders in such an organization (kinda like what Bitcoin is but beyond drug dealing). The reason why the DAO got so much hype (and crashed so hard) is because we as a world are getting sick of our leaders (Trump, Brexit anyone?) and are looking for the next way to organize human capital that doesn't rely the competency of a golden parachuted manager or a tenured bureaucrat. Ethereum might never get there (more likely won't), but it is a step in the path towards that sort of world. Something like Ethereum could be the basis for a true 21st century institution.

I am happy that Ethereum mining allows me to be apart of what I feel is the future. It is way cheaper than other alternatives such as buying a Tesla (or even Tesla stock).

 

[[DHT]Osiris]

State clearing complete. So yeah you bought at a perfect time, good job! It should creep up today.

I'm in NY, which Coinbase doesn't have permission to sell Eth in yet. Gonna miss out on this particular gravy train

 

[DrMrLordX]

ETH is still below $9 per coin so it hasn't really recovered yet. Until it hits $11-$12 it's still going to be below what was its stable price before the DDoS nonsense started some time ago.

Just wait for another geth bug, it'll tank again.

On a different note, every time I think about the ETH that I'm mining, I'm reminded of all those times I've used Paypal or a credit/debit card that can just go away because of ETH. I think that is attainable.

It's also funny to have all this GCN in the house. People used to think it was "extreme" to do Xfire/SLI or TriFire or even QuadFire/QuadSLI.

Now I have two quad-GPU rigs and a dual, and if I had more circuits in the house where I could comfortably add mining hardware I'd probably have 4-6 more on top of that. Madness.

 

[poofyhairguy]

Amen to that. It was fun to finally see firestrike run smooth!

 

[IEC]

It is literally below freezing outside, yet I am at a toasty 80F+ inside.

I think I have enough GPUs...

 

[lienad216]

I envy you guys who live in temperate climates. Here in the tropics... I might actually use that room with the PC as a sauna

 

[DrMrLordX]

I might actually use that room with the PC as a sauna

Hey, it worked for Progressive. Well, sort of.

 

[Rifter]

just got a rx480 recently, is it to late to jump on this bandwagon?

 

[poofyhairguy]

just got a rx480 recently, is it to late to jump on this bandwagon?

No, not at all. There is still money to be made mining.

I recommending mining zcash instead though.

 

[Rifter]

No, not at all. There is still money to be made mining.

I recommending mining zcash instead though.

Zcash is more profitable i take it

 

[poofyhairguy]

Zcash is more profitable i take it

Yeah. This site tracks that:

https://whattomine.com/

 

[DrMrLordX]

If you are interested in ETH, the easiest way to "mine" it right now is to mine ZEC and then exchange it for ETH directly on an exchange like Poloniex.

 

[[DHT]Osiris]

Got my first nicehash payout last night! $7.78 worth of BTC The system works.

 

[Jose Castillo]

guys what do you think about the huge drop in eth prices?

 

[Feld]

guys what do you think about the huge drop in eth prices?

I think the ether market is irrational right now, and people are putting their money into bitcoin with its price rising. Ethereum's fundamentals have never been stronger, the issues over the past months have been fixed and have really strengthened the network, and it's only a matter of time until we see steady price increases again. Probably around the time the first major Ethereum-based dapps come out, like Digix 2.0 or perhaps Singular DTV. What the price does before then I don't know, but I personally doubt it will fall much more than it has already. I feel like ether is a smart buy at current prices. Just my 2 cents.

 

[DrMrLordX]

Isn't there another geth bugfix incoming? Or was that solved Wednesday without a client update?