"Ooh, Tax Season is Due Soon. I Wonder What I Can Get For Ca-"

"Satoshi "Zipang" Katsura" (sundowne36) 01/24/2018 at 11:24 • Filed to: Goddamn Cryptominers

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“... What the fuck. So much for buying my twin 1070s again.”

atfsgeoff > Satoshi "Zipang" Katsura 01/24/2018 at 11:27

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Damn miners and nearly tripling the cost of good video cards...

itschrome > Satoshi "Zipang" Katsura 01/24/2018 at 11:28

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For Sweden > Satoshi "Zipang" Katsura 01/24/2018 at 11:31

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Buying Twin 1070s instead of a 1080Ti? nah

Ash78, voting early and often > Satoshi "Zipang" Katsura 01/24/2018 at 11:31

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Wait, why do miners need good video cards? I mean, other than watching 4k porn in their moms’ basements while they mine, of course.

Yowen - not necessarily not spaghetti and meatballs > Satoshi "Zipang" Katsura 01/24/2018 at 11:32

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Here are some useful tips:

https://www.reddit.com/r/buildapc/comments/7r9yw0/since_everyone_is_struggling_to_get_a_gpu_right/

even with that, it’s hard to come by a GPU right now. I’m also in the market for a 1070. Just one though.

404 - User No Longer Available > Satoshi "Zipang" Katsura 01/24/2018 at 11:35

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I completely regret not buying those C$649 1080s when I saw them over Christmas...

promoted by the color red > Ash78, voting early and often 01/24/2018 at 11:36

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https://blogs.mathworks.com/loren/2012/02/06/using-gpus-in-matlab/

In a nutshell, computational power - Bitcoin mining requires the kind of calculations that GPUs are good at.

jimz > Ash78, voting early and often 01/24/2018 at 11:37

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GPUs are faster at mining than CPUs.

of course, with how wildly crypto prices swing, you might spend $2000 on video cards to mine $500 worth of *coin.

For Sweden > Ash78, voting early and often 01/24/2018 at 11:39

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Miners shouldn’t buy anything frivolous; their jobs are not secure. Nor should they be. Thanks to the War on Coal, started by Margret Thatcher in the 1980s, air quality has increased dramatically.

gin-san - shitpost specialist > Satoshi "Zipang" Katsura 01/24/2018 at 11:41

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I hope all these cryptominers go bankrupt so I can get a cheap used 1080.

Yeah it’ll suck for them but it’s not my problem. However, $1000 graphics cards are my problem.

bob and john > Satoshi "Zipang" Katsura 01/24/2018 at 11:43

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I cant wait for this crypto bullshit to crash

fucking horaders.

and then there will be a SHIT ton of used cheap GPUs on the market as well

Ash78, voting early and often > For Sweden 01/24/2018 at 11:48

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I bought lots of frivolous stuff before I turned 18. The Iron Lady can suck it. Not literally because ewww.

Ash78, voting early and often > promoted by the color red 01/24/2018 at 11:49

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Ah, I was thinking literally for display purposes. My brother in law has been mining since 2012 and rarely even uses a monitor, it’s mostly automated.

Mercedes Streeter > Satoshi "Zipang" Katsura 01/24/2018 at 11:51

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If any Oppo wants a 1050TI I’ll sell it for $150. My eBay buyer appears to be screwing me (going to put this through an unpaid case and make me wait 4 more days? *sigh*) and at this point I don’t care anymore.

For Sweden > Ash78, voting early and often 01/24/2018 at 11:52

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Labour celebrating the fall of Margret Thatcher like

Eric @ opposite-lock.com > atfsgeoff 01/24/2018 at 11:55

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Seriously. My old card burned up a while back and I couldn’t replace it. I didn’t bother because it was the wrong timing for me to be spending $700-$800 for a video card to replace it, so I waited. Now they’re so expensive that I can’t justify it.

The sad thing is that the only way you can actually mine BTC profitably right now is with near-free power and ASICs. The hardware/network/power costs eat all your profits and people piling in is eating the opportunity for profits. The recent price spike was the only thing that made video cards cost-effective for mining. If it dropped another 5k, even the ASIC miners wouldn’t be able to do it cost effectively without free power.

What’s crazy is that the cheap budget card I bought in October last year (just because it had enough ports for my monitors) has gone up 50% since I purchased it, which is complete insanity.

random001 > Satoshi "Zipang" Katsura 01/24/2018 at 11:55

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I just managed to buy a 1080 ti for $650 cash, a month old off a guy who bought a Titan XP. I then sold my 1080 hybrid for $700....

But if I had known you were looking, I might not have done that.

Satoshi "Zipang" Katsura > random001 01/24/2018 at 11:58

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To be honest, I can understand why, so no harm done.

random001 > Satoshi "Zipang" Katsura 01/24/2018 at 12:02

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I can keep a look out, though.

Mercedes Streeter > Eric @ opposite-lock.com 01/24/2018 at 12:12

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The sad thing is that the only way you can actually mine BTC profitably right now is with near-free power and ASICs. The hardware/network/power costs eat all your profits and people piling in is eating the opportunity for profits. The recent price spike was the only thing that made video cards cost-effective for mining. If it dropped another 5k, even the ASIC miners wouldn’t be able to do it cost effectively without free power.

Interestingly enough, that first line isn’t that true anymore as of like a few weeks to a month ago. When BTC surged (then crashed), smaller coins (especially the ASIC resistant ones) began climbing in value, where they generally continue to do now.

ASICs are losing popularity as their glaring issues have started becoming even greater recently. Unlike a GPU, when BTC crashes you can’t just make a BTC ASIC mine Ethereum. And if you want out of mining, you’re limited in who you can sell the things to. ASICs may make a return to popularity if their designs improve or BTC rockets up again.

My bestie and her boyfriend (with my help) set up an expensive mining rig. They have eight GTX 1080s and an Antminer S7. The Antminer is quite possibly the worst designed piece of equipment I’ve ever used (considering the price). It’s too loud to use in a living space, generates enough heat to give the furnace a run for its money, and consumes enough power that I can almost see the electric company getting aroused. lol Meanwhile, the 8 1080s have a ROI of roughly $850-$900/mo for them after electricity costs.

I can see getting into mining for a hobby (I mean, they kinda forced me to learn about the silly thing) but I wouldn’t depend on it as an income.

Eric @ opposite-lock.com > Mercedes Streeter 01/24/2018 at 12:39

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An application-specific integrated circuit (ASIC) is, by definition, designed for a single purpose. You could design/produce one that efficiently mines another crypto, it simply takes time. The BTC-specific ones are built to do exactly the tasks necessary for BTC hashing so they don’t waste power or do anything inefficiently. The S7 is likely producing a lot more hashes per Wh. Purpose-built mining rigs are designed to be used in a data center environment, where noise is expected and heat is planned for.

Since this is getting crazy, I wonder why nobody has started buying up vast quantities of FPGAs (which are still relatively cheap, but they do run hot) so they could switch to any project they like at will. The fact BTC maxes out at 21M (and roughly 5M have already been misplaced permanently) means it will likely collapse due to energy costs or if it is lucky it will become a reserve currency used to back something more practical. It’s like the arguments I have with your run-of-the-mill anarchists storing physical metals waiting for the end of the world - I point out that in that scenario they’ll likely get more out of less valuable coins (ex: silver) or difficult-to-produce goods than out of currently-valuable coins that will either be too valuable to use in regular commerce or will decline in value due to low availability/demand (ex: high-purity gold).

Stapleface > Satoshi "Zipang" Katsura 01/24/2018 at 12:46

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Hell, forget cryptomining. Buy video cards and resell to the miners.

punkgoose17 > Satoshi "Zipang" Katsura 01/24/2018 at 12:53

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This is why we can’t have nice things. My graphics card has been messed up for a month, so I’ve stopped gaming. This weekend, I am heading to the special Goodwill that has all the used computers to see if I can make a lucky find.

Eric @ opposite-lock.com > Satoshi "Zipang" Katsura 01/24/2018 at 12:58

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So... Why do you want a 1070?

I just found a hot source for cards specifically targeting gamers if you would go with a single 1080 ti...

Satoshi "Zipang" Katsura > Eric @ opposite-lock.com 01/24/2018 at 13:05

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Honestly, I think I forgot why I preferred the 1070 over the 1080, haha

Mercedes Streeter > Eric @ opposite-lock.com 01/24/2018 at 13:16

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All very fair enough! Honestly, I think part of why the GPUs are being scooped up at the rate they are is because of their relative ease in setup. My only hand in the eight 1080 project was getting the stupid board to see more than a few of the cards. Interestingly, the solution was simple: I took the HDMI out of the board and shoved it into GPU #1. It’s a shame what kind of CPU the thing has though (top spec i5) seeing as it’ll never be used to its potential. They could have just gotten a cheap Pentium or something.

The Antminer now sleeps out in the garage where the absurd noise matters a lot less. I’ll have to ask what the ROI is on that unit per their contract. lol

Eric @ opposite-lock.com > Satoshi "Zipang" Katsura 01/24/2018 at 13:22

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You can get the 1080 Ti for less if you’re willing to wait and scoop one up when they drop. There’s a certain manufacturer that sells at their MSRP on their site, but they’ll only sell one per address/household, you just have to wait for their stock to come in. I’m thinking I’ll likely pay the $850 just to get their top of the line one...

Satoshi "Zipang" Katsura > Eric @ opposite-lock.com 01/24/2018 at 15:36

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I might consider it later on. For now, the reason why I needed a 1070... With a second came with the fact that I needed something that fits both the budget and also had the most amount of memory to fall back to. And in case a card failed, at least I have a card to use for the time being.

Satoshi "Zipang" Katsura > punkgoose17 01/24/2018 at 21:45

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WHAT PLACE IS THIS

TELL ME YOUR SEEEEECREEEEETS

punkgoose17 > Satoshi "Zipang" Katsura 01/25/2018 at 06:57

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The Lawrenceville Pennsylvania Goodwill is where all the donated old computers go for the area. I am not sure I will find anything good, but we will see.