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
phaZed said:
Our mains come in at 240 on two 120v legs
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That is correct. I didn't understand that before. Just talked to an electrician who explained it to me. My takeaway was that I could theoretically run 200 amps on my 100 amp service. Each 120v leg is 100 amps.

In practice I might be able to run 160 amps total (never go over 80% load on design). Running at 240v would make this easier as it would balance the load. If running at 120v balancing the load between the two would be more of a challenge.
 
timeshifter said:
My takeaway was that I could theoretically run 200 amps on my 100 amp service. Each 120v leg is 100 amps.
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You will need to check your SE (service Entrance) cable that runs down the side of your house to make sure it is rated for 200A.. while it 'will' carry that much, heat losses and cable heating is dangerous and against code... so, just know to check that.

Here's "This Old House" on SE cable changing:

and on a Panel Change:
 
Galdorf said:
how do i calculate power cost here are my rates http://gsuinc.ca/shared_pages/rates-schedule/
looking at buying 2 s7 antminers for btc.
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You need to know how many watts the antminers use. Here's how I calculate my power costs.

PC running 4 cards, 1100 watts
Electricity cost, $0.10 kWh

1100 watts x 24 hours x 30 days = 792,000 watts in a month
or divide that by 1,000 and get 792 kWh.
multiply 792 kWh x $0.10 = $79.20

So with my mining rig running 24/7 for a month costs me $79.20.

It's been earning $300 - $600 per month for a few months. So I don't mind the $79.20 expense. :D
 
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timeshifter said:
You need to know how many watts the antminers use. Here's how I calculate my power costs.

PC running 4 cards, 1100 watts
Electricity cost, $0.10 kWh

1100 watts x 24 hours x 30 days = 792,000 watts in a month
or divide that by 1,000 and get 79.2 kWh.
multiply 79.2 kWh x $0.10 = $79.20

So with my mining rig running 24/7 for a month costs me $79.20.

It's been earning $300 - $600 per month for a few months. So I don't mind the $79.20 expense. :D
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$7.92
 
Hmmm...
Based on you calculation I would be up for about AU$93.00 per 3 months billing cycle.
That's actually not as bad as I thought!
If I could make $300~$600 per month that would easily cover power costs.
Might be time for a rethink?
 
There are plenty of "ASIC Miner Calculators" avail online that will give you real-time numbers.. I'll be paying approx $60/mo per miner at the L3+'s 800w power consumption.
 
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NiceHash have a profitability calculator that covers most of the popular GPUs and ASICs:
https://www.nicehash.com/profitability-calculator



Galdorf said:
how do i calculate power cost here are my rates http://gsuinc.ca/shared_pages/rates-schedule/
looking at buying 2 s7 antminers for btc.
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You're in Canada right? Isn't it a bit chilly up there this time of year?

If you can make use of the heat generated, the running costs can be offset against your heating costs, especially if you would normally use any electric heating.
 
Moltuae said:
NiceHash have a profitability calculator that covers most of the popular GPUs and ASICs:
https://www.nicehash.com/profitability-calculator




You're in Canada right? Isn't it a bit chilly up there this time of year?

If you can make use of the heat generated, the running costs can be offset against your heating costs, especially if you would normally use any electric heating.
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And our power rates vary wildly across Canada. The building I'm in, the heat would be very welcome (I have swamp heaters. Loud as heck.) Even in summer, many days I might have to turn on a heater for 30m to cut the edge out.

You guys would be envious. Even with our recent rate hikes, we pay $0.06/kWh USD. :D
 
Odd thought; Do you think it would be worth me buying older rigs that people are selling because they've become unprofitable in their area at their power rate? I've seen some that are very cheap...
 
MudRock said:
Odd thought; Do you think it would be worth me buying older rigs that people are selling because they've become unprofitable in their area at their power rate? I've seen some that are very cheap...
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Quite possibly.

If electricity consumption is less of a factor, I suppose it all comes down to ROI. So, at the right price, they could make sense. And if you're using them in place of regular heaters, a heater that earns a small amount of money is still better than a heater that earns none.
 
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MudRock said:
Odd thought; Do you think it would be worth me buying older rigs that people are selling because they've become unprofitable in their area at their power rate? I've seen some that are very cheap...
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I would look at how much less on average your power cost are and perhaps even checking out some profitability calculators to see if some of them might be.
 
At this point I’m pretty familiar with selling my rigs hashing power on Nicehash. What about buying hashing power on Nicehash? Any reason to do that?
 
timeshifter said:
At this point I’m pretty familiar with selling my rigs hashing power on Nicehash. What about buying hashing power on Nicehash? Any reason to do that?
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Never tried it myself, but is it profitable? Considering that NiceHash can often be more profitable than most mining pools for sellers of hashing power, even after fees, I don't see how it can be profitable for buyers too. I get the impression buyers use NiceHash as a way of indirectly purchasing cryptocurrencies, ie paying for the use of a service instead of directly exchanging funds. I remember reading a comment also, from a NiceHash staff member on the Bitcointalk forums, that buyers of hashing power are often mining pool owners, trying to attract new members by artificially boosting the total hashing power, temporarily increasing block discovery frequency. Having said all that, it could be worth trying, especially if you choose a coin that is particularly profitable to mine.
 
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Yeah, I guess I just don't get the idea of paying for mining. Would Genesis Mining even exist if it wasn't for referral codes? :D

If you pay someone else to mine coins for you, why not just buy the coins directly?
 
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