Cryptocurrencies

What cryptocurrencies do you use/own?

  • Bitcoin (XBT)

    Votes: 30 27.8%

  • Ether (ETH)

    Votes: 16 14.8%

  • Litecoin (LTC)

    Votes: 15 13.9%

  • Peercoin (PPC)

    Votes: 0 0.0%

  • Dash (DASH)

    Votes: 3 2.8%

  • Dogecoin (XDG)

    Votes: 4 3.7%

  • Blackcoin (BLK)

    Votes: 0 0.0%

  • Zcash (ZEC)

    Votes: 3 2.8%

  • Other

    Votes: 14 13.0%

  • None

    Votes: 69 63.9%
  • Total voters
    108
Barcelona said:
Ooohhh! The power company is going love you! Lol
Good luck, hope you make some good BTC.
Oh, and can we see some pic's please?
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20171129_132656.jpg


It's in a temporary location ATM in a back room, not much to see I'm afraid. It's cold here so the miner isn't costing me much now... it's offsetting my heatpump. We'll see how summer goes, ha!

First 24hrs and it's made ~$25US on Nicehash! Woohoo!
 
Moltuae said:
$11K should be easier to conquer the second/third time though and, now that we're above $10K, most of the round-numbers should present less of a psychological barrier until we start adding more digits.
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This topic has always fascinated me. I remember sitting in a boring investment seminar when I was in the actuarial world where the speaker went on and on about the psychological barrier of $10,000 for the Dow Jones (this was back in the 90s). Once it broke through, there was almost an immediate jump to $11,000 because the "barrier had been broken" and the artificial suppression of that was gone.
 
phaZed said:
First 24hrs and it's made ~$25US on Nicehash! Woohoo!
Click to expand...
You can squeeze a bit more out of the L3+ if you're brave enough to up the clock frequency a little (potentially voiding your warranty, although I'm not sure if Bitmain would really be able to tell). Probably worth running the unit at the stock frequency for a week or two first though, just to be sure it has no manufacturing defects.

I run mine at 475MHz, which I have found to be the upper-limit of stability. Beyond that the hardware error count is significantly higher. At 475MHz it's totally stable. Hash rate increases by about 100MH/s (so about a 20% increase in profit) and the power consumption goes from about 800W to 1000W, if I remember correctly.
 
I've actually got another L3+ arriving on Friday. Biggest problem I have now is where to put them all!

House is lovely and warm though, despite no heating on and near-freezing temperatures outside :)

I think the L3+ is one of the safer gambles and I think they should remain profitable for quite some time. March is quite a long wait though, it's usually 3 months, max. The S9 is another fairly safe bet I think. SHA256 is so saturated with hashing power already that it would probably take millions more miners to come online, or the release of a hugely more efficient SHA256 miner, to make a significant dent in the S9s profitability. I've got another S9 arriving in January.

HCHTech said:
This topic has always fascinated me. I remember sitting in a boring investment seminar when I was in the actuarial world where the speaker went on and on about the psychological barrier of $10,000 for the Dow Jones (this was back in the 90s). Once it broke through, there was almost an immediate jump to $11,000 because the "barrier had been broken" and the artificial suppression of that was gone.
Click to expand...
It certainly is fascinating studying human nature and the combined effect of it en masse. It's almost like people believe there's something magical or special about round numbers, which of course there isn't, and yet because enough people believe there is (or at least believe that others believe there is), it becomes self-fulfilling. People set a sell-order at $10K, not because it bears any relation to the perceived value of BTC but because that's the point at which they believe the price will crash, for no apparent reason. And of course because thousands or millions more people do the same, their beliefs are confirmed and rewarded. And so it continues.
 
Barcelona said:
....and while our "pollies" fight over the sale of some generators for about $400 million they have assured us that SA's power will continue to be the "most expensive in the world!"
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And yet you have one of the best natural resources of practically unlimited energy on-tap there -- the sun -- something we rarely see in the UK. If only we could figure out an efficient way to make abundant electricity from rain.

I think electricity is comparatively expensive in the UK too, typically around £0.14/kWh (about 0.25 AUD per kWh, according to Google). How does that compare with Oz electricity prices?
 
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Moltuae said:
And yet you have one of the best natural resources of practically unlimited energy on-tap there -- the sun
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Your right about the "sun!"
And when our corporate overlords work out the best way to charge for it we'll be forever in their debt! (literally!)
Moltuae said:
How does that compare with Oz electricity prices?
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We are charged around 38~39 cents per kilowatt.
I do get some rebate from my solar tariff, but not much. Typically around $50
They charge us 83 cents per day on top for "Supply Charges," which works out at about $72 for 90 days billing cycle.
...and then they put GST on top of all that... like a cherry on a cake, lol
 
Wow, that is pretty expensive.

How about some giant hamster wheels for all the 'roos instead?


I actually think geothermal is the best solution. All you need is a 50 mile long drill bit to tap into the mantle, and a boiler that can cope with the temperatures and conditions down there, then you have limitless clean energy.
 
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Barcelona said:
Your right about the "sun!"
And when our corporate overlords work out the best way to charge for it we'll be forever in their debt! (literally!)
We are charged around 38~39 cents per kilowatt.
I do get some rebate from my solar tariff, but not much. Typically around $50
They charge us 83 cents per day on top for "Supply Charges," which works out at about $72 for 90 days billing cycle.
...and then they put GST on top of all that... like a cherry on a cake, lol
Click to expand...
I just read this guy's book after watching his video. He predicts that distributed solar energy will rule the world very soon, that it's been on a Moore's Law type trajectory and it's about to breakthrough. In his book he argues how nukes, coal and natural gas are all doomed and mostly because they're artificially propped up by governments.

 
My home currently has 100 amp electrical service. Of course I'd like to upgrade that anyway as we may finish the basement one day and we're close to breaker capacity as it is. So I'm thinking about how much mining I could do now and if and when I upgrade the panel (and incoming service) how much I could do at home.

So, if I run rigs at 240 volts instead of 120 does that mean I could run roughly twice as many?

A single GTX 1080 Ti draws 250 watts or 2.0833 amps on a 120 circuit. So let's assume I wanted to limit my mining rig power consumption to 50 amps total. That means I could run 24 cards (50 / 2.0833). If I were to run on 240 volts does that mean I could double the number of cards I could run?
 
That depends on how you're planning to get to 240 volts. Is your electricity supplier able to upgrade your supply to 240 volts or are you talking about stepping your existing 120 volt supply up to 240 volts? If it's the latter, there's nothing to gain, since the current on the 120 volt side will still be double what it is in the 240 volt side.
 
Moltuae said:
That depends on how you're planning to get to 240 volts. Is your electricity supplier able to upgrade your supply to 240 volts or are you talking about stepping your existing 120 volt supply up to 240 volts? If it's the latter, there's nothing to gain, since the current on the 120 volt side will still be double what it is in the 240 volt side.
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I'm pretty sure my supply is 240 volts. I have an electric range and clothes dryer that run on 240.
 
If you have a 240 volt supply already then yeah, the current consumption should be approximately half of what it would be on a 120 volt supply.

I thought you were all on 120 volts over there though? Or are you saying you have the facility to select the main incoming supply voltage?
 
Moltuae said:
I thought you were all on 120 volts over there though? Or are you saying you have the facility to select the main incoming supply voltage?
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Our mains come in at 240 on two 120v legs... outlets and lights, etc are 120 by using one leg and a neutral... Ovens, dryers, heatpumps are mostly all 240v for the better efficiency.
 
Ah, that makes sense.

In that case I would imagine you effectively have 2 phases or a 240 volt feed with the equivalent of a transformer centre 'tap'. So yeah, using 240 volts should share the load over both legs and would use half the overall current (for the same wattage) as using a single 120 volt leg would.
 
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