Ethereum GPU mining?

[ozzy702]

What's happening in August?

BTC decision on Aug 1 but the miners are apparently coming to consensus July 21-23rd or so. This next week I fully expect to see cryptos tank hard which is a great buying opportunity. I'm scrambling to move funds to capitalize on the situation.

 

[DrMrLordX]

It looks like it's already happening for Ethereum. It's down over 60% in the last month, from over $370 to $130 this morning.

Hell, it looks like it dropped almost 30% in a single day. How are you guys going to convince people to use this shit as an actual currency with price swings like this?

We aren't, and I don't think that's the purpose of ETH in the long run. I suspect that most of its value will come as an intermediary of exchange between blockchains.

No need need to get salty guys. FOMO works both ways. A lot of new investors can't handle the pressure and getting out (likely at a substantial loss). Weak hands and whale's...

That's a major value-dump though. Some big players got onto the sidelines. I'm a little surprised that such a large percentage of ETH investors were willing to get out that quickly. It's like a self-fulfilling prophecy, and it makes it harder for the token to regain value later (which in turn hurts the wealth of people pulling out this early, this fast). Too many big players are acting like they have weak hands.

You would think the newer investors would be like that, but we had to have seen some whales go down. And some of them probably lost money doing so . . .

BTC decision on Aug 1 but the miners are apparently coming to consensus July 21-23rd or so. This next week I fully expect to see cryptos tank hard which is a great buying opportunity. I'm scrambling to move funds to capitalize on the situation.

I am already buying the downtrend with small daily buys to use cost averaging. I didn't know it would go this low - thought there was enough resistance for it to stay above $200. There may yet be, I dunno. Too much panic-selling in the crypto space right now. It's a bit stupid.

 

[ultimatebob]

Can you imagine all the people now in full panick mode after buying mining GPUs for many thousand of dollars which they were gonna use to mine because they followed advice from people that Ethereum value would go skyrocket?

Bitcoin have also started to crash. Was $2500 a month ago. Now its $1800.

Love it. Buuuurn buuuurn

I don't think that they'll lose much if they decide to get out now. Higher end graphics cards resell well on eBay if you were smart enough to keep the original packaging.

They could lose a lot more money if the price continued to crash and they kept mining, but I don't think that will happen. It will probably stabilize at some more sane value at some point.

 

[VeryCharBroiled]

I am already buying the downtrend with small daily buys to use cost averaging. I didn't know it would go this low - thought there was enough resistance for it to stay above $200. There may yet be, I dunno. Too much panic-selling in the crypto space right now. It's a bit stupid.

same here, picking up a bit of btc and eth here and there as the price declines.

price goes up, price goes down. repeat. only constant (so far) is ultimately it goes up in the long term. so some expendable money goes into crypto in during dips.

as for mining, its still above break even but may retire a 390 and replace it with something more energy efficient (witch is pretty much anything lol).

 

[n0x1ous]

same here, picking up a bit of btc and eth here and there as the price declines.

price goes up, price goes down. repeat. only constant (so far) is ultimately it goes up in the long term. so some expendable money goes into crypto in during dips.

as for mining, its still above break even but may retire a 390 and replace it with something more energy efficient (witch is pretty much anything lol).

not a vega haha

 

[Elixer]

Hmmm....

Hacker Steals $7 Million Worth of Ethereum From CoinDash Platform

An unknown hacker has taken over the official website of the CoinDash platform and modified an Ethereum wallet address during the company's ICO (Initial Coin Offering).

The hack took place today, just three minutes after CoinDash launched its ICO, which is something similar to an IPO.

https://www.bleepingcomputer.com/ne...ion-worth-of-ethereum-from-coindash-platform/

I still don't see why there is no good way to undo a transfer, and this person gets away with millions?

 

[DrMrLordX]

He/she/it gets away with millions by hacking a website. This isn't the DAO hack all over again no matter what anyone says. It's someone creatively - and profitably - defacing their website.

We should be able to figure out who are the thieves and Coindash and/or its investors should be able to seek damages in court accordingly.

 

[IEC]

Well, that bounced back more quickly than I expected.

 

[ozzy702]

Well, that bounced back more quickly than I expected.

Ugh... sooner than I could transfer funds.

 

[DrMrLordX]

It's still only $226 as of this posting. There's a lot of ground to gain back before it gets back to its previous levels of $330-$350 where it was stable for awhile, so it's still discounted depending on where you think it'll wind up.

Yeah I would be feeling pretty good had I dropped a bunch of cash on ETH at $147 or wherever, but really I don't feel much worse by slow-buying at that level, $170, $190, $200, and $226 (not necessarily in that order). It could drop again but I don't see that as being all that likely.

 

[Elixer]

He/she/it gets away with millions by hacking a website. This isn't the DAO hack all over again no matter what anyone says. It's someone creatively - and profitably - defacing their website.

We should be able to figure out who are the thieves and Coindash and/or its investors should be able to seek damages in court accordingly.

I have been reading this was a inside job?
https://www.reddit.com/r/ethtrader/...bsite_hacked_55_mil_gone_do_not_send/dkc7e9z/

I can't seem to find if they actually recovered anything.

 

[Erithan13]

I hope we've all settled down over Coindash, because this looks really bad:

153,000 Eth drained from multisig wallets due to a bug in the code. Had to do a double take, yes ~$30 million USD at the time of writing gone just like that. I can imagine there's going to be some very serious questions asked about the fallibility of this tech. Already seen a few calls demanding another hard fork but let's not get too far ahead of ourselves, this is still very much developing. Not expecting complete catastrophe mind you but keep an eye on this.

Note this exploit is only a danger to specific wallets, MyEtherWallet is confirmed safe. More info:

Source

 

[DrMrLordX]

a). stop using Parity multisig contracts
b). since the perp is known . . .

hardfork? I think not.

The DAO hack involved a basically unknown actor making it difficult - if not impossible - to take action against him/her/it in meatspace. Since the Parity exploit was utilized by a "known actor" then I don't see the need for something as drastic as a hardfork.

 

[PhonakV30]

Buy more Bitcoin if you can! Bitcoin probably will reach $1250

https://www.tradingview.com/chart/BTCUSDT/HUJhP0hU-Bitcoin-Market-Review/

 

[Elixer]

Buy more Bitcoin if you can! Bitcoin probably will reach $1250

https://www.tradingview.com/chart/BTCUSDT/HUJhP0hU-Bitcoin-Market-Review/

It can just as easily go down to $12.50.
All this is speculation.

 

[DrMrLordX]

Chart trading is all well and nice, but it's unlikely that anyone is going to publish charts if they are known to be reliable.

If you could prove to yourself that BTC was going to reach $1250 and had a reasonable guesstimate of when it would happen, wouldn't you just start shorting the hell out of it without letting anyone else in on the game? I dunno, maybe some folks just don't think that way.

 

[Aikouka]

Buy more Bitcoin if you can! Bitcoin probably will reach $1250

https://www.tradingview.com/chart/BTCUSDT/HUJhP0hU-Bitcoin-Market-Review/

It's up to 2600 today....

 

[Erithan13]

ETH seems to be recovering, reaching $11.10 as I type.

Was going through some of my older posts looking for something and came across this gem. Puts the recent troubles in proportion doesn't it?

 

[IntelUser2000]

It can just as easily go down to $12.50.
All this is speculation.

Entirely due to hope.

I think $100 seems to be the safe low barrier. At its lowest I can see it go down to $50(well I am trying to see things realistically. All hell could be let loose and we could see it at $0 and the only thing of value is food and water but that's true of everything). If $300-400 is to be steady it needs more real world adoption and usage. I'd like to see more of that, but I think its really some time away.

 

[PhonakV30]

ETH is still stuck at current price for 3 days...

 

[thilanliyan]

I thought it would crash harder with those latest hacks.

 

[Head1985]

I thought it would crash harder with those latest hacks.

ETH wont crash when bitcoin is at nearly 3000USD.When bitcoin is bellow 1000USD then and only then ETH will crash.You can see all other coins goin up or down with bitcoin.
This mining craze will last few years or forever.

 

[Feld]

Sounds like AMD is coming out with a driver fix for the slowdown their cards have been experiencing with recent DAG file sizes. Good to hear. https://www.reddit.com/r/EtherMinin...s_dag_epoch_issue_amd_fixing_with_new_driver/

 

[Head1985]

So much for locking mining on gaming cards..OMFG.Even AMD support mining on gaming cards.RIP pc market.

 

[Feld]

So much for locking mining on gaming cards..OMFG.Even AMD support mining on gaming cards.RIP pc market.

Customers are customers - they can't afford to be picky, especially if Vega isn't quite all it was hyped to be. If AMD can't meet demand, they should increase production. Mining isn't as likely to crash like last time since so many coins use ASIC-resistant algorithms now.