OT Crypto Currencies

Discussion in 'Blazers OT Forum' started by kjironman1, Feb 20, 2021.

  1. Stevenson

    Stevenson Old School

    Joined:
    Nov 20, 2008
    Messages:
    3,592
    Likes Received:
    4,038
    Trophy Points:
    113
    Occupation:
    Writer
    Location:
    PDX
    I have a pal who was at the big NFT convention in New York this week. I just don't get it.
     
  2. donkiez

    donkiez Well-Known Member

    Joined:
    Jan 17, 2009
    Messages:
    3,889
    Likes Received:
    2,671
    Trophy Points:
    113
    Crypto. You can build a system and run it at home. Similar to building a home PC just heavy on the GPUs. They use a lot of power but seem to be fairly profitable and scale well as long as you have power. I'm still researching the details but it seems easy enough, just a little expensive to get rolling on anything worthwhile. You can mine some crypto on your home PC but it won't end up being much. Perfect geek project.
     
    AmirIcon and Phatguysrule like this.
  3. Phatguysrule

    Phatguysrule Well-Known Member

    Joined:
    Dec 31, 2008
    Messages:
    5,817
    Likes Received:
    5,196
    Trophy Points:
    113
    You have to be careful about what you mine. As a project, yes, it's fun. But it's hard to turn a profit from what I've read.

    I've heard of some people mining shit coins and when they peak exchanging for etherium or bitcoin to pay for the power. I'm not sure how much of a profit they're making though.

    I should have a rig at work... They'd never notice the power draw... Probably wouldn't even care.
     
    Fairly-Hard, SlyPokerDog and donkiez like this.
  4. donkiez

    donkiez Well-Known Member

    Joined:
    Jan 17, 2009
    Messages:
    3,889
    Likes Received:
    2,671
    Trophy Points:
    113
    That's where Im at in my research. Some crypto pays out in bits and some pays out like a lottery system, where someone wins the block. That prices out home guys on the big ones. Also eth is converted and won't be able to use current GPUs for some reason and different crypto isnt compatible with some hardware. There are also super miners called ASICs that are really powerful but specialized for certain crypto and some crypto is ASIC resistant. It's all quite the rabbit hole. I'm thinking the best way to dip my toes in is go build a 6 GPU system of 2090s, then either work on upgrading or expanding go 30xx. That's seems to be the most casual way to go with the most options.

    There are some hashrate calculators that show how much you will profit per coin and electricity costs, but that's assuming a stable price.
     
    Phatguysrule likes this.
  5. Phatguysrule

    Phatguysrule Well-Known Member

    Joined:
    Dec 31, 2008
    Messages:
    5,817
    Likes Received:
    5,196
    Trophy Points:
    113
    Sounds awesome. At least, like a lot of fun. I'll be interested in hearing how it goes.
     
  6. Fairly-Hard

    Fairly-Hard Well-Known Member

    Joined:
    May 2, 2021
    Messages:
    3,768
    Likes Received:
    2,915
    Trophy Points:
    113
    Yes
     
    Phatguysrule and Orion Bailey like this.
  7. donkiez

    donkiez Well-Known Member

    Joined:
    Jan 17, 2009
    Messages:
    3,889
    Likes Received:
    2,671
    Trophy Points:
    113
    Sure would be easier if GPUs we're more available. Getting them is a project in itself it seems.
     
    Phatguysrule likes this.
  8. Phatguysrule

    Phatguysrule Well-Known Member

    Joined:
    Dec 31, 2008
    Messages:
    5,817
    Likes Received:
    5,196
    Trophy Points:
    113
    Yes, you can thank crypto for that... Lol
     
  9. Orion Bailey

    Orion Bailey Forum Troll

    Joined:
    Jan 27, 2015
    Messages:
    26,285
    Likes Received:
    21,495
    Trophy Points:
    113
    Check this out.
     
    donkiez likes this.
  10. donkiez

    donkiez Well-Known Member

    Joined:
    Jan 17, 2009
    Messages:
    3,889
    Likes Received:
    2,671
    Trophy Points:
    113
    Thats a great video covering the basics.

    These guys are pretty popular for prebuit rigs.

    https://miningcave.com/


    They are sold out on most units but there are a few available, mostly using 2060s. I think you could buy their rigs but source your own GPU on ebay for a lot cheaper. I bet you can build the rig for about half price also. Buying a partial prebuilt for a first run might be worth it for something to copy. The part I am most unsure about is setting up the mining software and linking it to crypto wallets.

    One question I have is can you use a mixed set of GPUs or do you need to match them as close as possible? My hunch is that you can mix and match but Im not sure.
     
    Orion Bailey likes this.
  11. EL PRESIDENTE

    EL PRESIDENTE Conspiracy Theorist

    Joined:
    Feb 15, 2010
    Messages:
    48,664
    Likes Received:
    21,238
    Trophy Points:
    113
    Eth 4700 ATH
     
    Fairly-Hard and SlyPokerDog like this.
  12. EL PRESIDENTE

    EL PRESIDENTE Conspiracy Theorist

    Joined:
    Feb 15, 2010
    Messages:
    48,664
    Likes Received:
    21,238
    Trophy Points:
    113
  13. riverman

    riverman Writing Team

    Joined:
    Nov 15, 2013
    Messages:
    59,879
    Likes Received:
    54,455
    Trophy Points:
    113
    Eric you've been posting less....it's like you got married or something..oh wait......
     
    EL PRESIDENTE likes this.
  14. EL PRESIDENTE

    EL PRESIDENTE Conspiracy Theorist

    Joined:
    Feb 15, 2010
    Messages:
    48,664
    Likes Received:
    21,238
    Trophy Points:
    113
    Been a bit fatigued after getting the booster and then I kind of sprained my knee last Thursday, reaggrevated an old MCL sprain.
     
    riverman likes this.
  15. riverman

    riverman Writing Team

    Joined:
    Nov 15, 2013
    Messages:
    59,879
    Likes Received:
    54,455
    Trophy Points:
    113
    nobody calls their new wife an old MCL sprain! Heal em up....I've been fatigued but it's because I'm old as dirt
     
  16. Voodoo

    Voodoo An American hero

    Joined:
    Feb 26, 2011
    Messages:
    1,011
    Likes Received:
    1,360
    Trophy Points:
    113
    Occupation:
    Ops Supervisor
    Location:
    Beaverton
    So to all the nerds who are piped into this crypto stuff, what’s the next shiba inu meme coin that is going to explode?
     
    EL PRESIDENTE likes this.
  17. SlyPokerDog

    SlyPokerDog Woof! Staff Member Administrator

    Joined:
    Oct 5, 2008
    Messages:
    105,471
    Likes Received:
    98,414
    Trophy Points:
    115
    Shiba Inu.
     
    AmirIcon likes this.
  18. EL PRESIDENTE

    EL PRESIDENTE Conspiracy Theorist

    Joined:
    Feb 15, 2010
    Messages:
    48,664
    Likes Received:
    21,238
    Trophy Points:
    113
  19. tlongII

    tlongII Legendary Poster

    Joined:
    Sep 15, 2008
    Messages:
    15,031
    Likes Received:
    8,951
    Trophy Points:
    113
    Occupation:
    Systems Analyst
    Location:
    Beaverton, Oregon
    Too many similarities to a pyramid scheme.
     
    Lanny likes this.
  20. EL PRESIDENTE

    EL PRESIDENTE Conspiracy Theorist

    Joined:
    Feb 15, 2010
    Messages:
    48,664
    Likes Received:
    21,238
    Trophy Points:
    113
    GET IN EARLY OR GET FUCKED!
     
    Lanny and Phatguysrule like this.

Share This Page