M5POST
BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read

Go Back   M5POST - BMW M5 Forum > BIMMERPOST Universal Forums > Off-Topic Discussions Board > Video + PC Gaming / Computing

Closed Thread
 
Thread Tools Search this Thread
      11-02-2017, 09:21 AM   #1
SONO_N54
Private
33
Rep
45
Posts

Drives: 2007 BMW E90 335i
Join Date: Oct 2015
Location: Chesapeake, VA

iTrader: (0)

Cryptocurrency

Hey, I'm just wondering who in here is a cryptocurrency holder or trader. I haven't been into it long but I have been able to double the value of my portfolio in 3 months since this morning. Does anyone else have success stories or positive outlook for the future? Also, If you're interested in obtaining a position in this market shoot me a PM.
Appreciate 0
      11-02-2017, 09:22 AM   #2
nyalpine90
Lieutenant General
nyalpine90's Avatar
7380
Rep
11,829
Posts

Drives: MY24 G01 AW Msport
Join Date: Feb 2008
Location: L.I. NY

iTrader: (4)

Garage List
2016 BMW X4  [9.33]
do u mean bitcoin?
Appreciate 0
      11-02-2017, 09:25 AM   #3
SONO_N54
Private
33
Rep
45
Posts

Drives: 2007 BMW E90 335i
Join Date: Oct 2015
Location: Chesapeake, VA

iTrader: (0)

Bitcoin is only one of many cryptocurrencies
Appreciate 0
      11-02-2017, 10:11 AM   #4
Mandi90TT
Colonel
United_States
2712
Rep
2,371
Posts

Drives: BSM 6MT M4 F82
Join Date: Aug 2014
Location: Colorado Springs

iTrader: (0)

I don't trade, but I do mine. Got two rigs, one with 10 GPU (mix of 1080s, 1060s, and 580s) and one with 6 GPUs (4 1080s and 2 1070s).

Fully realize that I would have made more money buying BTC watching the price of BTC go up. Fun hobby though.
__________________
2015 Black Sapphire Metallic 6MT M4
Appreciate 0
      11-02-2017, 10:33 AM   #5
SONO_N54
Private
33
Rep
45
Posts

Drives: 2007 BMW E90 335i
Join Date: Oct 2015
Location: Chesapeake, VA

iTrader: (0)

Quote:
Originally Posted by Dave 90TT View Post
I don't trade, but I do mine. Got two rigs, one with 10 GPU (mix of 1080s, 1060s, and 580s) and one with 6 GPUs (4 1080s and 2 1070s).

Fully realize that I would have made more money buying BTC watching the price of BTC go up. Fun hobby though.
Nice, have you thought of mining ALT coins. They are more profitable in general for mining.
Appreciate 0
      11-02-2017, 10:43 AM   #6
Mandi90TT
Colonel
United_States
2712
Rep
2,371
Posts

Drives: BSM 6MT M4 F82
Join Date: Aug 2014
Location: Colorado Springs

iTrader: (0)

I do, actually. There is no money to be made in GPU mining BTC. Only ASICs can really mine BTC nowadays.

I do my mining through NiceHash, which mines altcoins, and pays the miners in BTC.
__________________
2015 Black Sapphire Metallic 6MT M4
Appreciate 0
      11-02-2017, 11:43 AM   #7
SONO_N54
Private
33
Rep
45
Posts

Drives: 2007 BMW E90 335i
Join Date: Oct 2015
Location: Chesapeake, VA

iTrader: (0)

Quote:
Originally Posted by Dave 90TT View Post
I do, actually. There is no money to be made in GPU mining BTC. Only ASICs can really mine BTC nowadays.

I do my mining through NiceHash, which mines altcoins, and pays the miners in BTC.
That's interesting. I may have to look into that.
Appreciate 0
      11-02-2017, 01:07 PM   #8
geogerf
First Lieutenant
geogerf's Avatar
116
Rep
306
Posts

Drives: MY17 LBB M2
Join Date: Mar 2017
Location: Pasadena

iTrader: (1)

Garage List
2017 BMW M2  [0.00]
My co-worker put $3500 into ETC / ETH earlier this year. That is now $40K. His roommate put in $25K and is quitting his day job.

Me? Like most things IPO related, by the time you hear about the opportunity, it is too late.
Appreciate 1
      11-02-2017, 02:30 PM   #9
Mandi90TT
Colonel
United_States
2712
Rep
2,371
Posts

Drives: BSM 6MT M4 F82
Join Date: Aug 2014
Location: Colorado Springs

iTrader: (0)

Quote:
Originally Posted by geogerf View Post
My co-worker put $3500 into ETC / ETH earlier this year. That is now $40K. His roommate put in $25K and is quitting his day job.

Me? Like most things IPO related, by the time you hear about the opportunity, it is too late.
Like I said, if I had invested the money I spent on mining rigs on actual currency, i would likely be significantly better off.
__________________
2015 Black Sapphire Metallic 6MT M4
Appreciate 0
      11-02-2017, 05:46 PM   #10
R3dliner
Lieutenant Colonel
R3dliner's Avatar
United_States
935
Rep
1,930
Posts

Drives: 18 M3 6MT
Join Date: Mar 2016
Location: NYC

iTrader: (5)

Would I get anything running it on my current comp with a single 1080 in a pool? What would you need for a basic solo setup?
Appreciate 0
      11-02-2017, 06:45 PM   #11
geogerf
First Lieutenant
geogerf's Avatar
116
Rep
306
Posts

Drives: MY17 LBB M2
Join Date: Mar 2017
Location: Pasadena

iTrader: (1)

Garage List
2017 BMW M2  [0.00]
Quote:
Originally Posted by Dave 90TT View Post
Like I said, if I had invested the money I spent on mining rigs on actual currency, i would likely be significantly better off.
Agree. when there are server farms out in Asia running 24/7, I think investing is the "better" opportunity among the two choices. But overall, I think cryptocurrency is far from being valid. Or at least it is a huge risk.
Appreciate 0
      11-03-2017, 11:17 AM   #12
Mandi90TT
Colonel
United_States
2712
Rep
2,371
Posts

Drives: BSM 6MT M4 F82
Join Date: Aug 2014
Location: Colorado Springs

iTrader: (0)

Quote:
Originally Posted by R3dliner View Post
Would I get anything running it on my current comp with a single 1080 in a pool? What would you need for a basic solo setup?
You would probably make about $1.50-$2.50/day, depending on a number of factors, including the cost of electricity where you live.

Go to www.nicehash.com and download the miner there. Interface is pretty easy, and they will provide a BTC wallet for you. If you get into this seriously, you will eventually want to set up your own wallet, but the Nicehash one will work for now.

Also, MSI Afternburner will help you regulate settings on your 1080. You will likely want to reduce the power down to about 80% to help with temps, and overclock the memory a bit, but the overclocking can wait. Just run your card stock for now, on lower power, and see how you do.
__________________
2015 Black Sapphire Metallic 6MT M4
Appreciate 2
      11-29-2017, 01:32 PM   #13
Kolyan2k
Major General
916
Rep
5,538
Posts

Drives: 2006 S2000
Join Date: Apr 2010
Location: Boston

iTrader: (1)

Quote:
Originally Posted by Dave 90TT View Post
I don't trade, but I do mine. Got two rigs, one with 10 GPU (mix of 1080s, 1060s, and 580s) and one with 6 GPUs (4 1080s and 2 1070s).

Fully realize that I would have made more money buying BTC watching the price of BTC go up. Fun hobby though.
A buddy of mine keeps asking on the profits in mining today. So basically 10 1080s would roughly bring you $600 bucks per month minus electricity costs?

What about miners like this one? Any money in them?

https://shop.bitmain.com/antminer_s9...coin_miner.htm
Appreciate 0
      11-29-2017, 01:58 PM   #14
Mandi90TT
Colonel
United_States
2712
Rep
2,371
Posts

Drives: BSM 6MT M4 F82
Join Date: Aug 2014
Location: Colorado Springs

iTrader: (0)

There is money in ASIC miners (of which the Antminer S9 is one). The Profitability calculator at Nicehash is relatively accurate, and says that at a cost of 10 cents/kwh, the S9 will make roughly $23.68/day. Also, it shows that a 1080 would make roughly $100/month before electricity.

The issue with ASIC miners, though is that they are hard to come by. If you order them direct from Bitmain, there is about a 2-3 month wait, in which profitability WILL go down, and you will also not be earning money during that time. If you buy them secondhand or from a reseller, there are huge markups.

Plus, you need to buy the power supply (usually $200-300) and they are LOUD and HOT. More so than a GPU mining rig. From what I am told (I don't have any ASIC miners), you would not want to have one in your apartment, but if you have a house with a basement, you could put it in the mechanical/furnace room in the basement and be okay with the noise.

Finally, if you decide to get out of mining, it's much easier to resell GPUs to gamers than it is to resell an ASIC miner. Even after GPUs are no longer profitable for mining, there is still a market for them for use in a PC, but once an ASIC miner is no longer profitable, there is no resale market for it.

All and all, GPU mining is easier to get into, and less risky. Bottom line: do your research before getting into mining, GPU or ASIC.
__________________
2015 Black Sapphire Metallic 6MT M4
Appreciate 1
Kolyan2k916.00
      11-30-2017, 03:41 PM   #15
TurboSid
Brigadier General
TurboSid's Avatar
1083
Rep
3,256
Posts

Drives: 2022 M4Cx BSM/FR
Join Date: Apr 2008
Location: Florida

iTrader: (4)

Garage List
2008 335i  [0.00]
Can PC's do double duty? Mining when not in use overnight and used for daily tasks during the day?
__________________


2022 BSM/FR M4 Competition X-Drive
2017 MW/SO M4 ZCP [SOLD] • 2015 MW/SO M4 M-DCT FBO [SOLD] • 2011 AW/CR 335is DCT FBO [SOLD] • 2008 AW/CR 335i 6MT FBO [SOLD]
Appreciate 0
      11-30-2017, 03:47 PM   #16
Mandi90TT
Colonel
United_States
2712
Rep
2,371
Posts

Drives: BSM 6MT M4 F82
Join Date: Aug 2014
Location: Colorado Springs

iTrader: (0)

Of course. I have 4 mining rigs at home, now, and 1 desktop. The mining rigs mine 24/7, and the desktop rig mines whern I am not using it, on its single GPU, a 1080ti.

Of course, if your desktop does not have a relatively modern, discrete GPU, you won't be able to mine much, and will likely use more electricity than you earn on mining. The profitability calculator I linked above will show you how much a GPU can make in mining.
__________________
2015 Black Sapphire Metallic 6MT M4
Appreciate 0
      11-30-2017, 04:07 PM   #17
TurboSid
Brigadier General
TurboSid's Avatar
1083
Rep
3,256
Posts

Drives: 2022 M4Cx BSM/FR
Join Date: Apr 2008
Location: Florida

iTrader: (4)

Garage List
2008 335i  [0.00]
Quote:
Originally Posted by Dave 90TT View Post
Of course. I have 4 mining rigs at home, now, and 1 desktop. The mining rigs mine 24/7, and the desktop rig mines whern I am not using it, on its single GPU, a 1080ti.

Of course, if your desktop does not have a relatively modern, discrete GPU, you won't be able to mine much, and will likely use more electricity than you earn on mining. The profitability calculator I linked above will show you how much a GPU can make in mining.
Yea i have 2 gtx1080 pcs. One at home and the other at work. So you basically just have to start and stop the mining software each time?

also if i do build say a dedicated 6gpu rig with 1060s do i just multiply the calculator's estimates?
__________________


2022 BSM/FR M4 Competition X-Drive
2017 MW/SO M4 ZCP [SOLD] • 2015 MW/SO M4 M-DCT FBO [SOLD] • 2011 AW/CR 335is DCT FBO [SOLD] • 2008 AW/CR 335i 6MT FBO [SOLD]
Appreciate 0
      11-30-2017, 06:15 PM   #18
Mandi90TT
Colonel
United_States
2712
Rep
2,371
Posts

Drives: BSM 6MT M4 F82
Join Date: Aug 2014
Location: Colorado Springs

iTrader: (0)

If you use NiceHash, there is an option to have it start mining when idle, and stop when not idle. It's a little buggy, though. However, what I have found is that unless I am doing something graphics heavy (gaming, or image file manipulation), the 1080ti I have in my desktop has enough left over horsepower to allow me do work normally. The 1080 would be that way as well.

Yes, a 6 GPU rig would earn roughly 6 times what a single GPU rig would earn.

Finally, if I was starting out now, I would probably go with all 1070ti's for the GPUs. They seem to have the right combination of power, price-point, and predicted resale-ability that makes sens to me, as long as you can get them at a decent price. Amazon has 1070ti's for $465 right now.
__________________
2015 Black Sapphire Metallic 6MT M4
Appreciate 0
      11-30-2017, 06:41 PM   #19
Unknown_Car
Major
Unknown_Car's Avatar
United_States
447
Rep
1,060
Posts

Drives: Few and diffrent
Join Date: May 2015
Location: All over

iTrader: (0)

Interesting stuff, where do you guys buy cryptocurrancy, can I get a link.
__________________
JB4 Tune, MHD backend flash, E85
VRSF 7" Intercooler, BMS OCC
VRSF CP & TIAL 50mm BOV, BMP PI
DocRace 6266 single turbo.
Appreciate 0
      11-30-2017, 07:23 PM   #20
geogerf
First Lieutenant
geogerf's Avatar
116
Rep
306
Posts

Drives: MY17 LBB M2
Join Date: Mar 2017
Location: Pasadena

iTrader: (1)

Garage List
2017 BMW M2  [0.00]
Quote:
Originally Posted by Roma_335i View Post
Interesting stuff, where do you guys buy cryptocurrancy, can I get a link.
https://www.coinbase.com
Appreciate 1
      11-30-2017, 07:25 PM   #21
Mandi90TT
Colonel
United_States
2712
Rep
2,371
Posts

Drives: BSM 6MT M4 F82
Join Date: Aug 2014
Location: Colorado Springs

iTrader: (0)

Coinbase is what I use, but I don't do much trading, only taking my proceeds from my Nicehash wallet and putting them in the Coinbase wallet, which I can then use directly, or convert to USD. Coinbase can only hold Bitcoin, LiteCoin, and Ethereum, so if you are looking to mine and/or trade other cryptocurrencies, you need to find a different exchange, which I can't give you a recommendation for.
__________________
2015 Black Sapphire Metallic 6MT M4
Appreciate 2
geogerf115.50
      11-30-2017, 07:31 PM   #22
NickyC
Lieutenant General
NickyC's Avatar
17345
Rep
10,596
Posts

Drives: M4 CS. Former G82, x2 F82, F80
Join Date: Nov 2010
Location: Jacked out of my mind

iTrader: (23)

Whatever you do, do not keep your coins on an exchange like Coinbase. You can use that site to buy/sell coins, but get them the hell off there and into your own private wallet.

Use Trezor or something.
Appreciate 3
Mandi90TT2712.00
geogerf115.50
Closed Thread

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -5. The time now is 08:37 AM.




m5post
Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST