Bitcoin/Cryptocurrency Craze Wipes out AMD GPU Supply

[2FA]

10 minutes ago, Bleedingyamato said:

I thought this e currency craze mostly settled down because things like Bitcoin and others had gotten to a point of severely diminished returns?   

 

So what's with this gold rush of sorts all of a sudden?

 

That mining even small amounts of Bitcoin took way too long and cost way too much to run hardware to do the mining.

 

 

That being said, not that I for sure would bother, but how do you mine for Bitcoin, ethereum, or this Zcash stuff?    Is it a program you download or something else? 

Bitcoin may have ~50% market dominance but that's because it is used as the market standard coin. Everyone trades the alt coins they mine for Bitcoin, most of the money made from mining is made through altcoins.

 

There are mining programs that make use of OpenCL and CUDA. Most are just programs that you start with command line arguments.

[Space Reptile]

4 hours ago, leadeater said:

@Space Reptile

Speaking of such things, how useful would my 290X's be for this once I get round to replacing them?

pretty , the 290 @ 1100mhz can make 30mh/s , id say a 290x shud be pretty much the same , thats like 4~5$ a day depending on the Course of eth

[JuNex03]

4 minutes ago, Tedny said:

Oh, so AMD GPU still counts faster.... how badly games coded 

CMIIW I think they chose AMD GPU because its cheaper per performance compared to the competition. Cheaper GPU means the faster it will pay for itself.

[DIV1D3]

Dammit, not this again. 

Still got 2 of the 3 280Xs I bought back when other cryptos started to emerge and present themselves as being profitable. 

 

Might have to look into it to see if I can get any use out of my 280Xs, they may just be too inefficient to be comparable to the Hash speed of the current gen GPUs. 

[Mooshi]

I can't wait till we reach a golden age when people realize they are burning power for digital pixie dust and coin mining dies. Also LOL at trying to get Bitcoin with 580's, you may as well be trying to dig with a plastic spoon.

 

I miss the 90's when we didn't have this garbage.

 

[Bleedingyamato]

36 minutes ago, DeadEyePsycho said:

Bitcoin may have ~50% market dominance but that's because it is used as the market standard coin. Everyone trades the alt coins they mine for Bitcoin, most of the money made from mining is made through altcoins.

 

There are mining programs that make use of OpenCL and CUDA. Most are just programs that you start with command line arguments.

These alt things haven't been mined to death before now?

[DIV1D3]

Just now, Mooshi said:

I can't wait till we reach a golden age when people realize they are burning power for digital pixie dust

This happened over 2 years ago. 

Just now, Mooshi said:

coin mining dies.

It won't, until people decide to not create new Cryptocurrencies, there's a need to mine them, that being through raw PC hardware, or dedicated systems. 

 

1 minute ago, Mooshi said:

Also LOL at trying to get Bitcoin with 580's, you may as well be trying to dig with a plastic spoon.

You missed the actual point of the post, it's about several other GPU exclusive altcoins which cannot be mined via ASIC machines, not BTC. These other cryptos are much easier to obtain, and plus, there are pools of miners for a reason. 

[Space Reptile]

4 minutes ago, Mooshi said:

I can't wait till we reach a golden age when people realize they are burning power for digital pixie dust and coin mining dies. Also LOL at trying to get Bitcoin with 580's, you may as well be trying to dig with a plastic spoon.

 

I miss the 90's when we didn't have this garbage.

 

after powercost a 580 makes 3+ usd/day

 

in the 90's People did even more stupid shit  

[Bleedingyamato]

5 minutes ago, Mooshi said:

I can't wait till we reach a golden age when people realize they are burning power for digital pixie dust and coin mining dies. Also LOL at trying to get Bitcoin with 580's, you may as well be trying to dig with a plastic spoon.

 

I miss the 90's when we didn't have this garbage.

 

Me too.  A legit digital currency like credits in Star Wars or other series might not be a terrible thing but this current e currency is way too iffy for my liking.

 

Due in no small part to apparent artificial shortages of GPUs simply because miners are hoarding them.

[JuNex03]

2 minutes ago, Space Reptile said:

after powercost a 580 makes 3+ usd/day

 

in the 90's People did even more stupid shit  

Is that per card? Everyone could use some extra income while you do something else, I mean all you need to do is run it through the computer and let it do its thing right? Can it be automated? (sorry not really into bitcoin mining)

[DIV1D3]

4 minutes ago, JuNex03 said:

Is that per card? Everyone could use some extra income while you do something else, I mean all you need to do is run it through the computer and let it do its thing right? Can it be automated? (sorry not really into bitcoin mining)

It's a fairly insecure way to earn money. Price drops of coins, and security breaches of crypto websites can put your investments in jeopardy. Think of it as such, an investment. 

You have to do such an incredible amount of research to be sure as to what you want to do. 

 

Once you start the program (it's a .bat file, just in CMD, nothing else needs to be done once you've setup your connection and account) you can let it go for as long as possible. Some people even see this as a benefit as the multiple GPUs can warm your room while you sleep if it's cold where you live. But you can image the noise of multiple high-end GPUs running at 100% fan speed while you sleep.

 

If you get free electricity, it's a pretty damned good idea to do it, eventually you'll earn enough to pay off the GPU and other equipment's cost, but don't steal your parents electricity, it's bound to end up badly if you don't disclose your using their money to give yourself money. 

[Space Reptile]

Just now, JuNex03 said:

Is that per card? Everyone could use some extra income while you do something else, I mean all you need to do is run it through the computer and let it do its thing right? Can it be automated? (sorry not really into bitcoin mining)

yep its automated , all you do is let a program run and you let it sit there , 3$ is per Card yes , currently i make 6.50/day or 200$/m via some of my old Cards , its a nice side income  

[Space Reptile]

1 minute ago, DIV1D3 said:

It's a very insecure way to earn money. You have to do such an incredible amount of research to be sure as to what you want to do. 

or just get a program like nicehashminer wich does all the work for you and all you need is a BTC wallet  

[DIV1D3]

Just now, Space Reptile said:

yep its automated , all you do is let a program run and you let it sit there , 3$ is per Card yes , currently i make 6.50/day or 200$/m via some of my old Cards , its a nice side income  

Is that after electricity costs? Haven't touched Cryptos in a long time. 

Mind sharing your specs and .bat setup?

[DIV1D3]

Just now, Space Reptile said:

or just get a program like nicehashminer wich does all the work for you and all you need is a BTC wallet  

Well, there's still a lot more to do after installing the miner. Tuning your settings to get as much has as possible is pretty crucial. 

[JuNex03]

4 minutes ago, DIV1D3 said:

It's a very insecure way to earn money. You have to do such an incredible amount of research to be sure as to what you want to do. 

 

Once you start the program (it's a .bat file, just in CMD, nothing else needs to be done once you've setup your connection and account) you can let it go for as long as possible. Some people even see this as a benefit as the multiple GPUs can warm your room while you sleep if it's cold where you live. But you can image the noise of multiple high-end GPUs running at 100% fan speed while you sleep.

 

If you get free electricity, it's a pretty damned good idea to do it, eventually you'll earn enough to pay off the GPU and other equipment's cost, but don't steal your parents electricity, it's bound to end up badly if you don't disclose your using their money to give yourself money. 

I see, well I do not have the gear yet so mining for me is out of the question. Lol at the side benefit though. You want extra-extra income? Live in Canada, Cover your mining rig with foam, place in a room with no heater, rent that room to someone and advertise it as a room with an installed heater, profit.

3 minutes ago, Space Reptile said:

yep its automated , all you do is let a program run and you let it sit there , 3$ is per Card yes , currently i make 6.50/day or 200$/m via some of my old Cards , its a nice side income  

Nice, considering you can work on your main job while your rig mines for you. 200$/m can really stack up.

[JuNex03]

How do you trade it with money though? Like real tangible green dough.

[2FA]

1 minute ago, JuNex03 said:

How do you trade it with money though? Like real tangible green dough.

Some exchanges allow trading with money, one such exchange is Coinbase. They allow you to link your bank account.

[DIV1D3]

1 minute ago, JuNex03 said:

How do you trade it with money though? Like real tangible green dough.

There are Crypto exchanges, it's how hackers have gotten access to credit card details and such. Can't remember which was the place to go 3/4 years back, there should be 3 or 4 decently large exchange websites where you can roll your alt coins into whatever currency you'd like, or it'd have to go through BTC first before you can exchange it for digital dollars in a bank account, PayPal or such. 

 

Edit:

I like how my immediate note about Crypto exchanges are about hackers and stolen credit card details. 

[Space Reptile]

8 minutes ago, DIV1D3 said:

Well, there's still a lot more to do after installing the miner. Tuning your settings to get as much has as possible is pretty crucial. 

well thats just overclocking your gpu , Hashcount gets adjusted by miners automaticly and NHM has Multi algo switching where it goes like "hey this is more profitable" and then mines that

 

Quote

How do you trade it with money though? Like real tangible green dough

@JuNex03 i personally use Paxful , its also my wallet and a pretty secure place to sell Bitcoin (has an eBay like Feedback System and its ez to spot scammers)

[DIV1D3]

4 minutes ago, Space Reptile said:

well thats just overclocking your gpu , Hashcount gets adjusted by miners automaticly and NHM has Multi algo switching where it goes like "hey this is more profitable" and then mines that

Huh, well I haven't been up to date with the current miners, when I got into it you had to input your algorithm and a bunch of other stuff manually if you couldn't find a similar config to yours online. 

 

I think I just used SHA for my 280Xs when I was mining Vertcoin. Can't remember the details, and that was a long time ago so the files are long lost after multiple wipes of my HDD. 

 

Edit:

Thanks, @Space Reptile, now I'm going to spend hours on end researching into the current crypto environment. Right after I mow my lawn that is. 

And why is my "@" not working? Is there some newfangled way of mentioning people?

[Space Reptile]

Just now, DIV1D3 said:

Huh, well I haven't been up to date with the current miners, when I got into it you had to input your algorithm and a bunch of other stuff manually if you couldn't find a similar config to yourse online. 

yea i mined Lite in the dark days of 2014 , that was quite a pain to Setup , nowadays its Setup in like 10 minutes

[DIV1D3]

Just now, Space Reptile said:

yea i mined Lite in the dark days of 2014 , that was quite a pain to Setup , nowadays its Setup in like 10 minutes

Huh, well okay. I think I ended up finding out that my ASRock mobo designed for mining offed itself. Might make things a little more annoying. 

[Space Reptile]

4 minutes ago, DIV1D3 said:

Huh, well okay. I think I ended up finding out that my ASRock mobo designed for mining offed itself. Might make things a little more annoying. 

oh that board just has a crapload of PCIe Slots for you to add alot of gpu's , otherwise any pc will work , aslong as the gpu is installed and recognized by the program

[DIV1D3]

38 minutes ago, Space Reptile said:

oh that board just has a crapload of PCIe Slots for you to add alot of gpu's , otherwise any pc will work , aslong as the gpu is installed and recognized by the program

Yeah I know, but I'm certainly not using my main rig to mine.