Crypto Currencies ~ " Duck Tales Spin From The Crypt"

I was no where close to the limit, 1k. But yea their other services are such a bait lol

 

If I had a decent amount of BTC, I would likely buy into coinbase's credit card. Make it easier and less traceable to "sell off" some of your crypto that way. But, who knows what they will give to the IRS this next year.

 

I might, MIGHT, get into the $250 buy in for one of Crypto.com prepaid cards. It gives free Spotify and allows some spending, which would work nicely for me.

I would never do the actual Visa card though where you can spend into deficit. That sounds all sorts of dangerous with crypto.

 

Noob question: which would be a more profitable way to get into Crypto, spending $100 on coin or spending $100 on Power bill for mining?

 

Always a hard question to answer cause theres a bunch of factors. Does you $100 in power include any hardware costs to get to using $100 in power? (ie already have GPU's/ASIC?)

In general I tell people to not go into mining. Most just see the big profits available now and try to jump in while things are up. Then freak out when it goes down and turn things off.

So not a great answer but I'd go ahead and toss that $100 into the market over mining


and this coming from someone who does mine and has scaled back quite a bit

 

I understand mining is a looong game. It was nice to dip my toes in with my Desktop(Ryzen5 3600/AMD rx580), NiceHash showed a daily profitability of $2.44 with my current electric rate. Definitely not going to make a ton of money mining BC with it's pricing now but now I want to start into something that is lower and rising like ETH. I don't plan to go crazy but maybe do a little mining as well as buy some straight up.

 

I always hate "profability calcs". Its great for in that exact moment to know what you are making. But unless you are cashing out daily then its kind of a "who cares" type thing. Kind of like when mining in 2017...it was omg im making $7 a day! Then those people held till things dropped and sold at what equates to 3-4 a day. Course that only applies to people who were trying to use crypto to pay off mining gear (or expand) Now when mining an alt coin and converting to BTC/Eth/ect then those calcs make a bit more sense.

If you are wanting to really get into it and your main goal is Eth...you should really look into the future of things. Eth is already on the way to "Eth 2.0" which is proof of stake. There is also talks (this has been ongoing) of dropping block rewards in the current proof of work as well.


And fuck nicehash. Stay away from them and learn to use your own wallets and miners

 

Got any examples? I'm here to learn.

 

I mine with Ethermine for ETH and it automatically dumps whatever I've made each week into my ETH wallet I keep separately. They take about a 1% fee from me and the miner I use (Phoenix Miner) takes about 0.5% as well.

Honestly I use a card that would just be sitting around as a spare. So the $4-5 a day it makes only has to cover power costs, which it easily does.

 

Seems pretty easy to startup and run. Have you found that the EUR or Asia server is any better than the US servers?

 

Depends on the price of power and ETH lol. Personally I use the SSL NA server. The EUR and Asia servers don't use SSL and that sketches me out a bit considering how block chain works.

 

What's the best way to play the BTC dip from the stock side? MARA or RIOT?

 

Yea figured SSL was the better way to play myself.

 

RIOT is less volatile but I play both. still in RIOT at 22

 

I've been running for a little while and it looks like my hash rate is 25-35MH/s with an AMD RX580 holding steady at 66C with minimal fan speed. Definitely not seeing even a dollar a day. What kind of numbers are you getting with your setup? What temps should I be keeping my card at?

 

I'm getting about 56 MH/s on a nVidia 2080Ti. Power usage is around 200 watts, sometimes lower but it gets unstable on me when I undervolt too much. I'm lucky, power here is charged per kWH fairly low with a flat transmission fee, so it's costing me about $25 USD a month to run the card like that and, so far, I'm making about 0.022 ETH per week. That's about $30 USD at current prices per week. So my profit is about $100 per month, depending a lot on ETH market pricing and power cost changes.

EDIT: To be clear this is why calculators are bullshit in my opinion. I've seen calculators say one day I'm on pace to make $300 a month, and the next say I'll lose $30 a month. Depending on the miner you use, how much your pool collects from your work, how many miners are working with you, and the other variables already mentioned, a calculator is going to give you wildly different profit predictions every day. You have to look long term and accept your sunk costs are going to hurt until whatever you mine is sold.

IMHO I'm making good money so far given my electricity costs per month. I'm also assuming, likely wrongly, that sometime in the next 5-10 years ETH will break out and go up to $10K IF, big IF, it becomes a currency used to back commodities trades. I don't focus on what I make today. I focus on how much ETH I can make within the year. It's the long and painful game that may or may not work out.

 

I feel like one of the dudes on Alaskan Gold Rush. The only difference is my sunk cost was small so I could give a poop what I make in one year. I'm looking at the next big move ETH makes for my windfall, and that might never happen. It's a risky plan and not for everyone.

I know a lot of miners are retiring their 580s right now because they aren't making enough money. It seems like the newer cards are the ticket, with old but still newish Radeon 7s making dope money if you can find one cheap.

 

Ah I gotcha, when you said a card you had laying around I was thinking something older, I guess 2080 is the new old..

 

Don't feel bad. I know a dude, not personally just someone in a wheeling group, with 40 x 570s who didn't make his money back yet. Literally once he sells he'll of made maybe, maybe, $500 total over costs from two years of work. He was flipping his ETH right into cash though to try to pay things back. Miners who do that rarely profit. If you're going to do that, you need dozens of the latest and greatest mining cards like the 3070 or 3080.

 

All in boys