I just ordered an Antminer L3+ so I can mine LiteCoin. When used with an L3+ the APW3++ power supply can be plugged into 110V. The S9 BitCoin miner requires 220V.
I expected the L3+ to make me rich beyond my wildest dreams with its yield of $7000/year. The S9 profit is about the same but it uses 500W more.
But today I read somewhere that Ethereum can't be mined with ASICs. One must - "must" - use the CPU or GPU. It seems that Ethereum's Scrypt proof-of-work is designed to defeat ASICs. Rather than lots of arithmetic as in the case of BitCoin mining Scrypt requires a lot of memory.
I was puzzled by that so I looked into it when I got home this evening - and yes one can use a CPU or GPU.
But to gain the advantage of one's GPU it must have enough memory to fit the entire "DAG File" into video ram. Presently that file is somewhat less than 2 GB but it is slowly growing.
I found a review of the AMD Sapphire Nitro+ Radeon RX 470 that claimed it could perform 2.9 MH/s.
Newegg's page on the 470 recommends a 500W power supply. My Linux box has a 1000W supply. But let's suppose it needs all those 500 watts.
An Ethereum mining profit calculator I discovered by praying to Google, with the 8.16 cents per kilowatt-hour here in the Pacific Northwest with its abundance of hydroelectric dams predict a yearly profit of one hundred thousand dollars per year.
I gotta get me some of that.
I expect that outrageous profit is not yet well-known because BitCoin is getting all the press.
I participated in NAGA's Initial Coin Offering on Friday. I bought 1,400 tokens at one dollar apiece. The company being NAGA is a regular finance firm - so its regulated. I didn't have time to read their whitepaper before the ICO closed but I trust the opinion of the wise old friend who recommended NAGA to me.
Presently I own approximately equal amounts of BitCoin, BitCoin Hash, LiteCoin, Ethereum, Dash and B2B.
The B2B will quite likely turn out to be a mistake because CoinMarketCap's All Cryptocurrencies table said that B2B was going rapidly upward in price.
It was only after I bought some when I looked at the table a second time only to find that B2B had a daily volume of roughly $50k. With such a low volume just one sale or purchase will alter its price by a significant amount.
Really the wise thing would have been to sell it all back but I decided to hold onto it. You know just like my LivePicture stock certificate - it sure is pretty!
LivePicture was the only company whose options have vested for me. That experience led me to avoid startups entirely.
But I'm working part-time for one since a couple weeks ago. Sorry it's in stealth mode so I can't give you a clue but I am convinced its business plan is sound.
Please Tell Me I'm Hallucinating
I just ordered an Antminer L3+ so I can mine LiteCoin. When used with an L3+ the APW3++ power supply can be plugged into 110V. The S9 BitCoin miner requires 220V.
I expected the L3+ to make me rich beyond my wildest dreams with its yield of $7000/year. The S9 profit is about the same but it uses 500W more.
But today I read somewhere that Ethereum can't be mined with ASICs. One must - "must" - use the CPU or GPU. It seems that Ethereum's Scrypt proof-of-work is designed to defeat ASICs. Rather than lots of arithmetic as in the case of BitCoin mining Scrypt requires a lot of memory.
I was puzzled by that so I looked into it when I got home this evening - and yes one can use a CPU or GPU.
But to gain the advantage of one's GPU it must have enough memory to fit the entire "DAG File" into video ram. Presently that file is somewhat less than 2 GB but it is slowly growing.
I found a review of the AMD Sapphire Nitro+ Radeon RX 470 that claimed it could perform 2.9 MH/s.
Newegg's page on the 470 recommends a 500W power supply. My Linux box has a 1000W supply. But let's suppose it needs all those 500 watts.
An Ethereum mining profit calculator I discovered by praying to Google, with the 8.16 cents per kilowatt-hour here in the Pacific Northwest with its abundance of hydroelectric dams predict a yearly profit of one hundred thousand dollars per year.
I gotta get me some of that.
I expect that outrageous profit is not yet well-known because BitCoin is getting all the press.
I participated in NAGA's Initial Coin Offering on Friday. I bought 1,400 tokens at one dollar apiece. The company being NAGA is a regular finance firm - so its regulated. I didn't have time to read their whitepaper before the ICO closed but I trust the opinion of the wise old friend who recommended NAGA to me.
Presently I own approximately equal amounts of BitCoin, BitCoin Hash, LiteCoin, Ethereum, Dash and B2B.
The B2B will quite likely turn out to be a mistake because CoinMarketCap's All Cryptocurrencies table said that B2B was going rapidly upward in price.
It was only after I bought some when I looked at the table a second time only to find that B2B had a daily volume of roughly $50k. With such a low volume just one sale or purchase will alter its price by a significant amount.
Really the wise thing would have been to sell it all back but I decided to hold onto it. You know just like my LivePicture stock certificate - it sure is pretty!
LivePicture was the only company whose options have vested for me. That experience led me to avoid startups entirely.
But I'm working part-time for one since a couple weeks ago. Sorry it's in stealth mode so I can't give you a clue but I am convinced its business plan is sound.
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