Ethereum GPU mining?

[DrMrLordX]

Has anyone gotten any airdropped tokens yet? OMG's airdrop was supposed to start Sept. 4th, but I haven't seen anything show up in Ethereum Wallet yet (I set it up to watch tokens at address 0xd26114cd6ee289accf82350c8d8487fedb8a0c07). Apparently QTUM may be doing an airdrop as well? There are already QTUM airdrop scam sites.

edit: there is no QTUM airdrop. There is only a scam site.

 

[ozzy702]

Has anyone gotten any airdropped tokens yet? OMG's airdrop was supposed to start Sept. 4th, but I haven't seen anything show up in Ethereum Wallet yet (I set it up to watch tokens at address 0xd26114cd6ee289accf82350c8d8487fedb8a0c07). Apparently QTUM may be doing an airdrop as well? There are already QTUM airdrop scam sites.

edit: there is no QTUM airdrop. There is only a scam site.

How does that work? I'm using the mist wallet and don't see anything but ETH.

 

[DrMrLordX]

I'm not 100% sure how you use Ethereum Wallet or Mist to see ERC20 tokens. Allegedly you're supposed to be able to do it.

 

[DrMrLordX]

I could have edited the above post, but I wanted to update the thread properly to say what needs saying: using Ethereum Wallet to receive ERC20 tokens is easy! You don't have to do anything, it just shows up as a smaller item beneath your ETH total. OmiseGO airdropped my OMG about 13 hours ago, and it took all of 4 minutes to transfer it to Poloniex (where it hasn't shown up yet, grr). I'll be moving mine for more ETH since ETH's value is depressed right now anyway.

 

[Yakk]

I've had ETH transfers take as long as 12h, just fyi don't be surprised.

 

[Feld]

Bittrex >> Poloniex. Far better user experience and support. Polo is shady, IMO. I quit using them after the stunt they pulled listing ETC, and I've seen constant horror stories of people getting screwed by them since then.

 

[ozzy702]

I could have edited the above post, but I wanted to update the thread properly to say what needs saying: using Ethereum Wallet to receive ERC20 tokens is easy! You don't have to do anything, it just shows up as a smaller item beneath your ETH total. OmiseGO airdropped my OMG about 13 hours ago, and it took all of 4 minutes to transfer it to Poloniex (where it hasn't shown up yet, grr). I'll be moving mine for more ETH since ETH's value is depressed right now anyway.

Weird. I don't see anything under my ETH total in my Ethereum wallet.

 

[ozzy702]

Bittrex >> Poloniex. Far better user experience and support. Polo is shady, IMO. I quit using them after the stunt they pulled listing ETC, and I've seen constant horror stories of people getting screwed by them since then.

Agreed! So far I'm impressed with Bittrex.

 

[Accord99]

Weird. I don't see anything under my ETH total in my Ethereum wallet.

You can use a block explorer like etherscan.io to show you the number of tokens for that address. It appears the OMG was paid out at about 1 OMG token for every 13.4 ETH coins.

 

[Aikouka]

Yup. Buy the dip.

Like right now? I still want to pay off my cards, and I had enough, but the recent dip dropped me below that amount. (Not by much, but still below it.) What makes the whole thing more painful is that even though the coins dipped in price, I'm still not generating any more than I was before. I'm assuming that the difficulties went up along with the price, but that they take longer to match now that the price has fallen since people have to actively leave mining.

 

[Madpacket]

Just a note on Poloniex. They're shady AF, don't use them if you don't have to. I'm out half an Ether (0.5) that I deposited over a month ago. They acknowledged they received (after waiting 3 weeks and finally threatening legal action) but still haven't credited my account or returned the Ether.

 

[ozzy702]

Like right now? I still want to pay off my cards, and I had enough, but the recent dip dropped me below that amount. (Not by much, but still below it.) What makes the whole thing more painful is that even though the coins dipped in price, I'm still not generating any more than I was before. I'm assuming that the difficulties went up along with the price, but that they take longer to match now that the price has fallen since people have to actively leave mining.

Difficulty rises with network hash rates. The more miners, the higher the difficulty. The rate at which difficulty increases may slow down a bit but you won't see a drop until rewards are less than the cost of electricity and people simply stop mining. Even then, until Metropolis hits and block times are fixed and the difficulty algo is adjusted I'd just plan on not making any money off of mining unless ETH starts hitting ATHs.

 

[SimianR]

Hope the difficulty increases and the decreased value of Eth brings some sanity back to the GPU market in terms of pricing/availability. This has been a long time coming.

 

[DrMrLordX]

Bittrex >> Poloniex. Far better user experience and support. Polo is shady, IMO. I quit using them after the stunt they pulled listing ETC, and I've seen constant horror stories of people getting screwed by them since then.

Just a note on Poloniex. They're shady AF, don't use them if you don't have to. I'm out half an Ether (0.5) that I deposited over a month ago. They acknowledged they received (after waiting 3 weeks and finally threatening legal action) but still haven't credited my account or returned the Ether.

Ouch, haven't had any problems with them personally but I'll keep them in mind. I've never used Bittrex before.

Weird. I don't see anything under my ETH total in my Ethereum wallet.

Apparently it's taking longer to credit some HODLers than others.

Hope the difficulty increases and the decreased value of Eth brings some sanity back to the GPU market in terms of pricing/availability. This has been a long time coming.

I wouldn't count on it! GPUs didn't go down at all when ETH dropped to ~$140 not too long ago. Once Casper is out, you may see some relief since PoW will be dead for ETH by that point.

 

[SimianR]

I wouldn't count on it! GPUs didn't go down at all when ETH dropped to ~$140 not too long ago. Once Casper is out, you may see some relief since PoW will be dead for ETH by that point.

This is true, but difficulty has also gone up pretty dramatically since July hasn't it? I've also been seeing RX 470's and GTX 1060's in stock and much closer to MSRP than ever before. I feel like the last few months miners have been holding out that the price would remain high or would rebound dramatically, but if the price stays low and difficulty continues to rise it sets up the perfect storm for people to start dumping GPU's on ebay and retail sales dropping off a cliff. Someone buying GPU's now at MSRP or higher will take a long damn time to repay the cost of it let alone make a profit. This has happened before

 

[EXCellR8]

stocks toppling down anyway... where is you god now?

maybe I'll be able to grab another 290X for a reasonable sub-200 price.

 

[amenx]

No comment or opinion.. just posting link to article.

JPMorgan: The cryptocurrency market looks a like a pyramid scheme

https://finance.yahoo.com/news/jp-m...rket-looks-like-pyramid-scheme-183008361.html

 

[Feld]

No comment or opinion.. just posting link to article.

JPMorgan: The cryptocurrency market looks a like a pyramid scheme

https://finance.yahoo.com/news/jp-m...rket-looks-like-pyramid-scheme-183008361.html

Former SEC Chairman disagrees.

https://www.washingtonpost.com/news...legitimate-investment/?utm_term=.299b283b7c7b

 

[Feld]

No comment or opinion.. just posting link to article.

JPMorgan: The cryptocurrency market looks a like a pyramid scheme

https://finance.yahoo.com/news/jp-m...rket-looks-like-pyramid-scheme-183008361.html

Also, here is an absolutely excellent, nuanced discussion in response to Dimon's views from former treasury secretary Lawrence Summers.

https://youtu.be/nWmF-GlH68o

 

[alexruiz]

If I want to buy the coins directly, what exchange do you guys recommend?
Coinbase? Gdax?

 

[[DHT]Osiris]

If I want to buy the coins directly, what exchange do you guys recommend?
Coinbase? Gdax?

I've been solidly using Coinbase for about 9mo now with zero issues. Not a high volume person though, and my livelihood doesn't depend on BTC.

 

[Feld]

If I want to buy the coins directly, what exchange do you guys recommend?
Coinbase? Gdax?

Coinbase is the easiest but has the highest fees. If you want to minimize fees then use Gdax. Gemini is a good middle ground too with better support than Coinbase/Gdax and low fees.

 

[alexruiz]

Thank you guys!

 

[Crono]

I'll echo the Coinbase sentiments. There used to more options, but few are that safe, and even fewer operate in the United States and New York in particular .

I have a Gemini account, too, but they are banking only whereas Coinbase supports credit/debit and Paypal (at least for selling to USD).

 

[DrMrLordX]

This is true, but difficulty has also gone up pretty dramatically since July hasn't it?

True. Plus early PoS should start in, what, October or November? I think some miners will want to move their hardware and use the cash to buy coins to take a whack at PoS. Rumour has it it'll take 1000 ETH minimum to stake alone. Everyone else will have to join a pool and pay fees. The top .1% will be able to stake solo.

Still waiting for those Vega prices to come down though. Ugh.

I've also been seeing RX 470's and GTX 1060's in stock and much closer to MSRP than ever before.

Part of that is that 470s seem to be losing their edge over time. Though I think that's a software/driver problem more than anything else. When 480s and 580s start coming down to rational price levels, that's when you know the wheels are coming off the mining train.

If I want to buy the coins directly, what exchange do you guys recommend?
Coinbase? Gdax?

GDAX if you're patient. Coinbase if you aren't.

stocks toppling down anyway... where is you god now?

I have problems understanding how comments like this one contribute to the discussion at hand.