Official Mining Thread

Can't wait to see how Nvidia prices 4000 series. $3000 then cry and wonder why nobody is buying them.

I stand corrected, two eth validators control 46.19% of supply. The government loves this. I do believe people prefer slavery over freedom.
 
Any reason to post here other than derail the thread and attack the mining community? (acroig edit: nope, no other reason)
 
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Guys! WTF? Must we behave like children?

Nigel: don't troll here man, it's not your thing, we get that;

Riptide: No need to call people that don't mine entitled.

Now, play nice you two.
 
I think debate about the merits of mining is fine, but I also believe there should be a thread for miners to be able to talk about mining without having to constantly deal with people questioning the validity or purpose behind it.

I think we can make a separate thread for debate regarding mining, and if Nigel and others want to spar in there, then that's fine.

The EVGA thread, as I said earlier, was also not a place for that discussion.
 
Having been through two cycles of massive bitcoin price action and the resulting surge in mining demand it's just the same old talking points every time. I doubt even Nigel would want a debate thread. What positive outcome or new thing could come of it?

Anyhow, my few remaining GPUs are idling and will probably stay that way until we get into cold weather and I can use them to help heat the house and offset the power cost. I personally don't expect any profitability to GPU mining beyond pennies per day to come back for months minimum and most likely years.

I have a couple CPUs mining XMR on MoneroOcean and it's making a whopping $0.80 per day USD. I continue with it mainly because I enjoy the hobby and choose to support the Monero network.

Lazy8s said:
You’re all set Riptide. :up: I would have said the same thing in your shoes.
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Much appreciated. :)
 
acroig said:
Guys! WTF? Must we behave like children?

Nigel: don't troll here man, it's not your thing, we get that;

Riptide: No need to call people that don't mine entitled.

Now, play nice you two.
Click to expand...

Okay, I payed $806.85 US dollars for a 3070 that had an MRSP of $499 in the height of the mining craze. And the price went even higher after that.

So that's why I'm very peeved at that whole mining scene but I will withdraw from this thread having said my piece enough times.
 
NIGELG said:
Okay, I payed $806.85 US dollars for a 3070 that had an MRSP of $499 in the height of the mining craze. And the price went even higher after that.

So that's why I'm very peeved at that whole mining scene but I will withdraw from this thread having said my piece enough times.
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Thanks. Looking forward to new cards coming out soon.
 
Got some people in serious denial out there it seems on reddit and elsewhere thinking it'll be just a few weeks before they can hop back in and make consistent profits. :nuts:

People going to be doing nothing but algo switching and playing whack a mole for the next several months minimum and possibly well into next year IMO. Zero sense to be running a GPU miner right now with typical power costs but some people stubbornly persist in doing it anyway. Seems real dumb but w/e it's their hardware and money.

Checked WTM this morning after a few days and really no change. At 0.10 kw/hr it's a loss. Not even making pennies. Losing pennies. lol
 
Yep, every single coin is in the negatives if you're a miner.
I have one rig going because it's at a location where power is free for me. Otherwise rigs are off.
 
If FOMO were a physical disease, my mining buddy would be hospitalized right now. I hope he doesn’t lose too much.
 
Well at this point what are you going to put money in that isn't losing value?

Metals down. Equities slaughtered. Crypto way down from the highs.

Cash losing 8%.

I mean there is literally almost nothing. The only thing I've not lost money on is the couple I-Bonds I own with the treasury. That's it. And they aren't making anything they're just keeping up with inflation.
 
Real estate seems pretty good still, but that's a lot bigger of an investment.

There are always lulls. We're in for a decent sized one I think. I feel bad for anyone planning to retire in the next 4-5 years..
 
Depending on the market real estate is no sure bet either. With high rates prices tend to head down.

So, a buy opportunity if you have cash perhaps. Same can be said for equities and anything else crashing right now.

I'm out of cash at this point I blew my wad on AMD at 70 and thought I was getting a "deal". Now I have egg on my face.
 
I think a lot of folks are regretting making what they thought (can you blame them?) were good deals. They sure seemed good at the time.

All I know right now is my 401k is taking some really uncomfortable hits. I need a safer place for that money.
 
Housing will crash. Demand is and will be way down with higher rates. Most people won't qualify for a loan.
This is when the Blackrocks of the world swoop in and buy all the houses in your neighborhood
 
Cash buyers are fine. Here in NV we have a lot of cash rich Californians coming in and driving prices up. So those people are completely unaffected. The locals have been and will continue to be upset about it but welcome to the free market chief. Right now cash is king and if you don't have it and can't afford a 6% mortgage then you're screwed.

Momma said there'd be days like this.

Back OT, I have a couple 3070 GPUs left currently idling and will be putting my 5950x in the rig to CPU mine with. 3070s might get back up and running when the cold weather hits and I can offset heating in the house. Debating whether I want to keep the 3070s in the rack on 1x risers or plug them direct into the motherboard slots.
 
Riptide said:
Cash buyers are fine. Here in NV we have a lot of cash rich Californians coming in and driving prices up. So those people are completely unaffected. The locals have been and will continue to be upset about it but welcome to the free market chief. Right now cash is king and if you don't have it and can't afford a 6% mortgage then you're screwed.

Momma said there'd be days like this.

Back OT, I have a couple 3070 GPUs left currently idling and will be putting my 5950x in the rig to CPU mine with. 3070s might get back up and running when the cold weather hits and I can offset heating in the house. Debating whether I want to keep the 3070s in the rack on 1x risers or plug them direct into the motherboard slots.
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Yeah she did :lol:
 
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