Bitcoin / Cryptocurrency / ICO / NFT Topic

[Elementalism]

Yup.

My keyboard ain't connected atm as I'm on my rig.

Investment in crypto with no understanding of mining/the microeconomy is a waste.

[Meticulous]

initial & running cost?

[Greens]

Was looking to join a mining pool set up by s friend of a friend, but the minimum order at the moment is for 5+ rigs.

[Elementalism]

1 hour ago, Meticulous said:

initial & running cost?

Depends on your setup.

If you man want I can help spec it for you (all I ask is that you buy as much shit as possible through my Amazon affiliate links). I know how some man on here stay so I will give you this much for cheap/free. I'll have a blog post up soon.

If you are smart with your selection of parts, you can see an ROI on almost any figure you want to invest, given a static or growing value in the given crypto you want to mine. I'm not speccing anything with less than a 100 day ROI at the moment and I am trying to squeeze as much as I can out of these rigs.

I had a figure drawn up (which based on current values would have been a lowball) where you invested 20K and with 100 reinvestment of profit you could start day one earning £160 per day and by the end of the year be pulling £500.

There are big 'ifs' and 'buts', people often say that 'if' you had invested directly in say, Bitcoin with the money you put into mining gear, you'd be laughing. Personally I don't like gambling, and the way I do it I am able to purchase assets that generate assets. If those assets appreciate, great. If the entire cryptosphere crashes, I will be selling a lot of prebuilt gaming PCs on eBay for cheap.

There is an ASIC miner called a Baikal Giant B that just dropped, it cost £5500 on release day (through a reseller) and is going for about £9000 now. The thing makes 350 per day with the ability to mine across multiple algorithms. Man who copped it have already recouped and it's profit until the difficulty levels back out.

By now I hope you man understand that 'mining' is simply verifying transactions or executing contracts to ensuring the security and integrity of the chosen blockchain. This is like a game of secure pass the parcel where nodes on the blockchain 'peek in' through encryption into the blockparcel, check the transactions in the block are still true, and pass them on. Miners get lucky with block rewards for their work - 'proof of work' - and the network stays secure.

I do not mine directly at the moment, but am testing the profitability of various setups and instead 'rent' my hashing power to bidders who require it. They pay me for my hashing power in Bitcoin using a hashing 'marketplace'.

Really smart people will be investing in mining, currencies and also 'staking' in currencies - operating infrastructural functions for a reward. For example, it's possible to become a 'masternode' on many blockchains, simply by owning a moderately powerful computer and staking a certain amount of the particularly cryptocurrency. Look into Zencash Masternodes for example, they receive 3% fees and the requirement is 400 Zen and a computer capable.

 

[Meticulous]

if you class buying bitcoin as gambling, then youre still gambling but with a grain of risk management.

its not a flip that excites me personally (except for the baikal) but more power to you

[Elementalism]

2k investment can return itself in like 60 days. Profit after that.

2k down can make you 36 quid a day, every day. 1000 a month, passively. 8k profit.

Freedom to mine any coin you want and freedom to sell said coin for profit you determine on an exchange. Hashing power is where a currency derives its most basic value - and it is undeniably valuable. Own coins AND hashing power.

I would rather own tangible assets that generate potentially worthless coins than some random worthless coin. A lot of man in here have a fundamental misunderstanding of what crypto is. I own a bunch of graphics cards and processors that have multiple applications and can make money as a side function.  

Give a man a fish...

[Meticulous]

i hear your angle but how much do you reckon your equipment will be worth if the entire cryptosphere collapses and now theres a million of them on ebay sat next to yours?

its only really an asset if crypto doesnt collapse. unless you find an unrelated way to milk em

[Elementalism]

Can't say it clearer:

6 hours ago, Elementalism said:

 I own a bunch of graphics cards and processors that have multiple applications and can make money as a side function.  

 

 

[Meticulous]

sorry mate i must be so dim that i still need further clarification. in what ways specifically can you make money by owning graphics cards and processors other than mining cryptocurrencies?

[Natty]

28 minutes ago, Admin. said:

What you man reckon about neo ?

been rising heavy last month

few icos accepting it as payment 

Neo is one of the best projects out and will have an amazing year the Neo eco system is crazy the Chinese stick together and collabrate

https://medium.com/theblock1/an-undervalued-blockchain-market-in-china-is-good-news-for-you-d0c010170622

Long read but understanding China and Chinese icos will be a major factor in how much money you make this year.

[hardface]

54 minutes ago, Natty said:

Neo is one of the best projects out and will have an amazing year the Neo eco system is crazy the Chinese stick together and collabrate

https://medium.com/theblock1/an-undervalued-blockchain-market-in-china-is-good-news-for-you-d0c010170622

Long read but understanding China and Chinese icos will be a major factor in how much money you make this year.

 

Going Strong, Imagine it was under $10 when I first ever looked at it SMH

 

I only brought in a few months ago.

 

 

 

 

[QPR Dee]

19 hours ago, Elementalism said:

You man mining?

 

^ One rig.

T'other.

Roughly 35 quid a day.

know fuck all about this but for the past 2 or so years been hearing that its getting harder and harder to mine especially with bitcoin. need to look into this with other cryptos as i been looking at building a new PC. cba with investing

[Greens]

1 hour ago, hardface said:

 

Going Strong, Imagine it was under $10 when I first ever looked at it SMH

 

I only brought in a few months ago.

 

 

 

 

I'm still salty I didn't get in when it was called Antshares

[QPR Dee]

double. but meant to ask can you mine these new coins

[local]

On 1/13/2018 at 4:43 PM, MGEEZ said:

What have you ever made apart from a mess mate 

profit playa

[MGEEZ]

Nice 

[Elementalism]

12 hours ago, Meticulous said:

sorry mate i must be so dim that i still need further clarification. in what ways specifically can you make money by owning graphics cards and processors other than mining cryptocurrencies?

OK imagine. 

You out 2k down into a crypto or ico. Said crypto or ico flops, what do you do with your worthless, useless currency? 

I fork out 2k on a rig and mine 1k in 30 days and then the market crashes. I have tangible things with multiple uses, you have fuck all. I don't know how you can't see it. 

You do realize that graphics cards are bought and sold for gaming,  graphic design etc, all day long right? You selling your ICOs on Ebay? 

[zoot]

19 minutes ago, Elementalism said:

OK imagine. 

You out 2k down into a crypto or ico. Said crypto or ico flops, what do you do with your worthless, useless currency? 

I fork out 2k on a rig and mine 1k in 30 days and then the market crashes. I have tangible things with multiple uses, you have fuck all. I don't know how you can't see it. 

You do realize that graphics cards are bought and sold for gaming,  graphic design etc, all day long right? You selling your ICOs on Ebay? 

What about the cost of electricity .. is this factored into your figures?

How many kwh does each computer use while mining ?

[Elementalism]

If I make 30 a day I spend around 3 quid in leccy.

Based on 14p per kw/H. 

[Meticulous]

5 hours ago, Elementalism said:

OK imagine. 

You out 2k down into a crypto or ico. Said crypto or ico flops, what do you do with your worthless, useless currency? 

I fork out 2k on a rig and mine 1k in 30 days and then the market crashes. I have tangible things with multiple uses, you have fuck all. I don't know how you can't see it. 

You do realize that graphics cards are bought and sold for gaming,  graphic design etc, all day long right? You selling your ICOs on Ebay? 

i dont care if its got multiple uses, you only have 1 way of eating from it and thats based on the same gamble you claim not to want involvement in. you wouldnt have bought these processors if it wasnt for crypto, so lets not act like gaming and video editing have any relevance to your wallet. if crypto collapsed now, your equipment would suddenly go on ebay along with thousands of other elementalists whilst the demand for it decreases significantly cos noone wants to mine crypto anymore. that sudden dump on the market wont get soaked up by gamers the way you hope it will. you will get peanuts for your graphics cards if anything at all. its called supply and demand.

you only have 'assets generating assets' if crypto stays alive. so llow pretending you have a master plan that lets you eat with no exposure to risk cos its not that. you are gambling with a grain of risk management like i said.

/conversation

[Seymour Cake]

I've jumped on this mining ting with my boy.

 

We getting 8x 1080ti 8gb gfx card, figures are looking healthy for a initial test rig

[time_bomb]

Do you we think bitcoin will drop more? I wanna put money in around the lowest point

[Elementalism]

8 hours ago, Meticulous said:

i dont care if its got multiple uses, you only have 1 way of eating from it and thats based on the same gamble you claim not to want involvement in. you wouldnt have bought these processors if it wasnt for crypto, so lets not act like gaming and video editing have any relevance to your wallet. if crypto collapsed now, your equipment would suddenly go on ebay along with thousands of other elementalists whilst the demand for it decreases significantly cos noone wants to mine crypto anymore. that sudden dump on the market wont get soaked up by gamers the way you hope it will. you will get peanuts for your graphics cards if anything at all. its called supply and demand.

you only have 'assets generating assets' if crypto stays alive. so llow pretending you have a master plan that lets you eat with no exposure to risk cos its not that. you are gambling with a grain of risk management like i said.

/conversation

lololol.

I built a PC with a Radeon R9 390, it sat in my room for a year while I was living in Spain and got no use. I went back home and realized I could make 4 quid a day with it, and it has been doing so since then. 

I have a better plan than you and most man here when it comes to crypto. I´m not some just-come.  Not got time to argue with you about this, I ain´t forcing anything on you. My risks are heavily limited  and I have a huge potential for growth. You think I don´t know that the prices are going to be lower? The same scenario you are hoping will befall me is going to FUCK you and certain man who simply invested.

What you gonna do, sell your Trezor wallets? Your coins have NO INTRINSIC VALUE WITHOUT THE HARDWARE THAT I AND OTHERS PUT TOWARDS SECURING THE GIVEN NETWORK. KEEP INVESTING AND WISHING FUCKERY ON US AND THE SAID FUCKERY WILL BEFALL YOU.

I´ve run Bitcoin faucets.

I´ve blogged about Bitcoin.

I´ve invested in the microeconomy.

I have a solid understanding of crypto and computer hardware.

6 hours ago, Seymour Cake said:

I've jumped on this mining ting with my boy.

 

We getting 8x 1080ti 8gb gfx card, figures are looking healthy for a initial test rig

You sick guy. Hope you mean 1080TI 11GB, not worth going for the 1080s.

If you want I have a Spreadsheet I put together in Google that you can look over, have figures for the hashrates of various cards on various currencies, ROI figures based on network difficulty, network hashrate and current price (only for Monero at the moment, but easily adjusted.)

I hope you are using Whattomine.com

[Seydou]

Is that the site to use for a guide on mining??