Announcement

Collapse
No announcement yet.

Mining Ethereum With AMD Threadrippers Paired With Four RX Vega 64 GPUs

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • #41
    Originally posted by Michael View Post

    Unfortunately don't have a power budget for them.... I already need to be careful to not turn too many systems on at once, or circuits will start tripping... pretty much maxed out in that regard with current setup.
    Ahhh… thats bad. It's similiar to my situation.
    And additionally, power is pretty expensive in Germany, ca. 0.3$/KWh, so mining would only be rentable if I would have plenty of those rigs – which I don't have a budget for.
    Seems like only the lucky ones or the already rich ones make lots of money with cryptocurrencies…

    Cheers

    Comment


    • #42
      Originally posted by starshipeleven View Post
      Huh? All currencies have no intrinsic value, "gold standard" was total facade bullshit, as gold price itself varies (and varied) significantly over time as it is just a ware bought and sold on the open market.
      I dont quite get you... the absolute value of gold doesnt vary (just a tiny bit), as its value is defined by the rarity of its occurence on the planet earth.
      Because we nowadays can only measure the value of gold as a price in some paper currency like Dollar or Euro, the market price changes. And because the values of these currencies are changing over time, the gold price varies (its also the "supply and demand" principle, which can push the price in a certain direction).

      Just to point that out :-)

      Cheers

      Comment


      • #43
        Originally posted by Ignatiamus View Post
        I dont quite get you... the absolute value of gold doesnt vary (just a tiny bit), as its value is defined by the rarity of its occurence on the planet earth.
        Because we nowadays can only measure the value of gold as a price in some paper currency like Dollar or Euro, the market price changes. And because the values of these currencies are changing over time, the gold price varies (its also the "supply and demand" principle, which can push the price in a certain direction).
        You are both a little bit right and a little bit wrong. Value is determined by supply, demand, and most importantly, whoever is willing to spend that much. Gold is rare and has a fluctuating demand, and as a result its price can fluctuate quite a bit throughout the year:
        https://www.moneymetals.com/precious...rts/gold-price
        Many countries base their currency around their treasury of gold (as well as other metals, but primarily gold), because it's a tangible resource that is universally accepted as valuable to some degree. Without these vaults, a country's currency can become worthless.

        Currency is nothing more than a generic form of trading. Rather than making a deal with your local grocery store that you'll trade them lumber for a week's worth of food, you can instead give the lumber to someone who actually wants it in return for cash, which you use to spend on the groceries, so the grocer can spend that cash on whatever he/she wants. You're effectively just trading the lumber for food, but indirectly. That gives the currency value.

        As with anything, something can only have value if people accept that it is valuable. It doesn't matter how much gold you buy with your currency - if that currency is not accepted in the places you want to spend it, that makes it worthless. This is what became controversial about Bitcoin, because it wasn't associated with anything tangible and anybody can collect them. Once bitcoins were accepted in stores that contained things people desired, it gained real value. By the time that happened, it started to become more scarce, and in turn increased its value to the point where it is now over $4000 USD for a single bitcoin.

        Comment


        • #44
          Originally posted by Ignatiamus View Post
          Ahhh… thats bad. It's similiar to my situation.
          And additionally, power is pretty expensive in Germany, ca. 0.3$/KWh, so mining would only be rentable if I would have plenty of those rigs – which I don't have a budget for.
          Seems like only the lucky ones or the already rich ones make lots of money with cryptocurrencies…
          It may be feasible when you have solar panels or some other form of power generation (running a generator on heating oil might be even cheaper, though I don't think this is legal ). Otherwise I'd say it's fairly risky, especially for people who don't sell what they mine right away. Markets for cryptocurrencies are still quite shallow.

          Comment


          • #45
            Originally posted by Ignatiamus View Post

            Ahhh… thats bad. It's similiar to my situation.
            And additionally, power is pretty expensive in Germany, ca. 0.3$/KWh, so mining would only be rentable if I would have plenty of those rigs – which I don't have a budget for.
            Seems like only the lucky ones or the already rich ones make lots of money with cryptocurrencies…

            Cheers
            You'd have to move. 3-4 eurocents kWh here (Estonia). More or less same in Finland. It's like 10 times less.

            Comment


            • #46
              Originally posted by Qaridarium

              we have both a solar power plant and a generator on heating gas. and a battery system
              Is this one of those thinks that generates power and as a side effect you get warm water?

              Comment


              • #47
                There are miners for Ethereum GPU mining that also mine Monero with the CPU.



                Comment


                • #48
                  Originally posted by Qaridarium
                  mining monero XMR is from the usability very hard because there are many differnt miner software and every pool makes it differently...
                  Not really. Yes, there are many different mining software (but that's true for other cryptocurrencies as well) but they communicate more or less all on the same way to the pools, using the stratum protocol.
                  Xmr-stak-cpu is one of my favourites. by default, it takes 2% of your mining time to mine over his developer's pool, but since is open source you can just modify that value and recompile it.

                  but actually, i think is actually fair to pay the developer somehow. So... you should just leave that 2% there

                  Yep, it works very well and it pays you using bitcoin, even if you actually mined different curencies.
                  But their miner is made for windows only and they take an higher percentage for themselves than other pools.

                  It's still a good way to go for unexperienced miners.

                  Comment

                  Working...
                  X