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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.
(Score: 0) by Anonymous Coward on Monday December 18 2017, @09:55AM (2 children)
You're not hallucinating, your maths is flawed or your data is flawed. Sorry.
(Score: 1) by khallow on Monday December 18 2017, @04:57PM
(Score: 2) by MichaelDavidCrawford on Monday December 18 2017, @07:33PM
A review of the 470 listed the hash rates of several algorithm. I used blake256r8 which appears to be used for a different coin
Yes I Have No Bananas. [gofundme.com]
(Score: 3, Informative) by shortscreen on Monday December 18 2017, @10:07AM (6 children)
I was looking into this stuff recently and also saw something about scrypt not running on ASICs. I guess that was true at one time but not anymore. It looks like anyone who wanted to do CPU/GPU mining has missed the boat. I ran the benchmark on my video card and it showed 600KH/s (GeForce 640). Then I saw that the current Dash client doesn't even allow "solo" mining, it was recommended to use a mining pool instead. I looked at the stats on one of the mining pool websites and the highest contributors were well into the GH/s range. I don't think GPUs can get anywhere near GH/s.
I saw a page with benchmark results for bitcoin mining and the hash rates were much higher than for scrypt. So the hardware's performance on one type of crypto doesn't directly translate to another type. But I guess CPU/GPU mining is no longer competitive for either one.
(Score: 2) by MichaelDavidCrawford on Monday December 18 2017, @09:31PM
The calculator I just tried yielded a profit of $1100 per month.
I expect that those high hashrate miners have lots of GPUs, perhaps in a data center.
The only ETH rigs that I've found so far are open metal frames with a motherboard and power supply. The board is socketed for six or eight PCIexpress cards.
Using eight GPUs for Ethereum is only somewhat more lucrative than mining LiteCoin with an Antminer L3+.
Possibly the GPU rigs don't become obsolete as quickly as an ASIC blockchain rig but really I don't know.
GPU mining requires that the entire Directed Acyclic Graph - the "DAG file" - completely fits into the GPU's video memory. Presently the DAG File is somewhat less than 2 GB. There's a configuration of the 470 that has 8 GB, so it could work for quite a long time.
However BTC, LTC and ETH blocks have a difficulty field in their block headers. That difficulty is adjusted regularly so as to keep the frequency of new blocks to an approximately constant value.
The difficulty is also increasing but I do not yet know how fast.
Yes I Have No Bananas. [gofundme.com]
(Score: 2) by MichaelDavidCrawford on Tuesday December 19 2017, @01:55AM
HMiners [bitcointalk.org] was one such scam. That thread is from some poor bastard who tried to buy one of miners' products.
There are some posts on bitmain's customer forum that claim to be selling eth miners. Each of them has a reply reporting them to be scams.
Yes I Have No Bananas. [gofundme.com]
(Score: 2) by Runaway1956 on Tuesday December 19 2017, @01:56PM (3 children)
http://www.hardwaresecrets.com/nvidia-geforce-chips-comparison-table/ [hardwaresecrets.com]
GeForce GT 640 2 GiB DDR3 900 MHz – 1.8 GHz 128-bit 28.5 GB/s
GeForce GT 740 (GDDR5) 993 MHz – 5 GHz 128-bit 80 GB/s
GeForce GTX 780 Ti 875 MHz 928 MHz 7 GHz 384-bit 336 GB/s
GeForce GTX 980 Ti 1,000 MHz 1,075 MHz 7 GHz 384-bit 336 GB/s
I can't find a similar page that compares the 1080 to the older cards, but here
https://www.vrfocus.com/2016/05/nvidia-geforce-gtx-1080-1070-980-ti-980-970-comparison-guide/ [vrfocus.com]
The base 1080 nearly doubles the tflops of the 980 TI. Apparently, the 1080 TI wasn't yet available when that chart was made - expect it to increase the tflops significantly. And, if they've made a Titan, expect another significant increase. (Titan is basically two video cards married into one card.)
The point I'm trying to make here is, you don't want to base any conclusions about GPU computing on a 640.
Hail to the Nibbler in Chief.
(Score: 2) by shortscreen on Tuesday December 19 2017, @09:15PM
Yeah, it's a bargain-bin card. MDC says the new hotness can do 25MH/s, and I believe it. It's still a long way from specialized hardware though. I found a review from Jul 2017 which mentions 250 and 500MH/s mining hardware for scrypt https://thebitcoinnews.com/antminer-l3-l3-scrypt-miner-review-is-it-the-best-litecoin-2/ [thebitcoinnews.com]
(Score: 2) by MichaelDavidCrawford on Wednesday December 20 2017, @05:37AM (1 child)
Ethereum GPU mining requires the Directed Acyclic Graph fits entirely of in the VRAM. Presently it's a little over two gig.
Yes I Have No Bananas. [gofundme.com]
(Score: 3, Informative) by Runaway1956 on Wednesday December 20 2017, @09:13AM
That eliminates all of the 700 series of Nvidia cards then, and some of the 800 series, maybe even a few of the bargain bin 900 series. And, all of the 7000 and 8000. Anything older than those isn't even under consideration, LOL!! Starting with the 800 series, some of the cards had more than two GB - the higher end ones, anyway. 900 series, I think all had greater than 2. The 1000 series starts out at the low end with 6Gb, I think.
The thing that sucks about Nvidia is, I spent a couple hours, maybe more, sorting out what all those numbers meant. Hell, I had the crazy idea that a 7000 card had to be superior to a 700 card. I couldn't have been more wrong! Even within the same series, such as 900, the video chips aren't all the same. You've got to look at the charts carefully to understand all the differences. Simple rule is to get the x80 Ti card, that is almost top of the line. Next step up is the Titan, which as I said above, is basically two video cards melded into one. The Titan doesn't "quite" double the performance of the Ti, primarily because it's limited to the bus speed, and it doesn't get quite double the memory. But, it's alright for those who need bragging rights, I guess.
And, I remain partial to Nvidia, primarily because Nvidia's drivers install pretty easily on Linux, compared to ATI. I spent many days in driver hell with both, but Nvidia finally sorted things out.
Hail to the Nibbler in Chief.
(Score: 1) by khallow on Monday December 18 2017, @04:59PM (1 child)
(Score: 2) by MichaelDavidCrawford on Friday January 26 2018, @02:32PM
All of Bitmain's Antminers consist of a card cage with three crypto-hashing cards and one CPU controller card. Also there is a power supply they sell separately.
In principle that CPU card could be made with a flashable firmware, so as to work well with replacement crypto cards that mine a different kind of coin.
Yes I Have No Bananas. [gofundme.com]
(Score: 2) by takyon on Monday December 18 2017, @05:22PM (1 child)
When the cryptocurrency gold rush disappears, does it make a sound?
[SIG] 10/28/2017: Soylent Upgrade v14 [soylentnews.org]
(Score: 2) by turgid on Monday December 18 2017, @08:26PM
The people selling the shovels, dynamite and donkey food get rich.
I refuse to engage in a battle of wits with an unarmed opponent [wikipedia.org].
(Score: 1, Touché) by Anonymous Coward on Monday December 18 2017, @07:46PM
Okay. You're hallucinating.
And you're welcome.
(Score: 2) by MichaelDavidCrawford on Tuesday December 19 2017, @07:44AM
A LiteCoin mining profit calculator told me that my L3+ would earn a little over $10,000 per year.
An ethereum calculator told me that a GPU rig with six Radeon RX 470s would get a little over $6,000.
For many people Ethereum GPU mining would be best as they can start with just one 470 plugged into a computer they already have. They could buy the rig and single 470s as they earned enough to cover their cost.
I have three 20 Amp breakers that connect to wall sockets. My next paycheck will enable me to buy two more L3+'s in addition to the one I just ordered.
I live very modestly these days, not like when I had money in the past but spent it all on hookers and blow. $2,500 per month is more than enough for me.
I once "quit my job for Adsense" - there's a huge long thread of that at webmasterworld. After three years though my AdSense dwindled down to nothing so I had to start coding again.
Perhaps I'll get to quite my job for LiteCoin!
Yes I Have No Bananas. [gofundme.com]
(Score: -1, Troll) by Anonymous Coward on Tuesday December 19 2017, @02:06PM (21 children)
Some guys get all the jobs.
Some guys do nothing but complain.
Fuck you MDC.
On a positive note for me, I have an interview today. Sure I'll fail the interview because I'm not the type of gregarious asshole to shit out 500-word journals about every fucking detail of my exceptional life.
I'm sure famously reticent President Calvin Coolidge wouldn't find work in today's hypersocial society either.
Let me serve as a reminder of how the other side lives in our divided society where opportunity exists only for motherfucking socialites and antisocial nerds starve to death.
Fuck MDC.
(Score: 3, Insightful) by Runaway1956 on Tuesday December 19 2017, @04:19PM
When are you going to learn? A picture is worth thousands of words. All you need is one photo of the interviewer in a compromising situation - or position - and the job is yours. Fuck a whole bunch of essays.
Hail to the Nibbler in Chief.
(Score: 1) by khallow on Tuesday December 19 2017, @08:16PM (17 children)
Learn to play the game instead of whining. You don't need to be a socialite to know how to communicate and negotiate effectively. Calvin Coolidge is merely one of many introverts out there who figured out how to do it. MDC did so as well. Presumably, you're as smart as MDC, right?
(Score: 0) by Anonymous Coward on Tuesday December 19 2017, @08:27PM (8 children)
Playing the game is for tools. Be self-employed so you can make your own rules, and don't have shallow requirements for employees.
(Score: 3, Insightful) by The Mighty Buzzard on Wednesday December 20 2017, @02:22AM
True but the boss is a bigger asshole than ever.
My rights don't end where your fear begins.
(Score: 2, Insightful) by khallow on Wednesday December 20 2017, @02:49AM (5 children)
The earlier AC was complaining that it was unfair that they couldn't get a job because they weren't willing to learn how to deal with people. That makes them a broken tool just like it would anyone else too proud (or ignorant) to learn basic skills. I'm not impressed by anyone too proud to learn how to read, drive, do math, or do anything with computers, for example, who then complains that their choice means that they can't get work from "shallow" employers.
(Score: 0) by Anonymous Coward on Thursday December 21 2017, @07:29PM (4 children)
Your argument is fallacious because the work force is full of highly valued worthless tools who can't read, drive, do math, or use computers. We call those "ordinary people" and they never have any trouble finding work because they bullshit their way into every job. They are the fucking shitbrained idiotic morons who ask, "duh, I got job, duh, why not you working."
(Score: 1) by khallow on Friday December 22 2017, @02:41AM (3 children)
Sure it is.
Seeing your effort here, I see you can't even bullshit well. As I was saying, learn to play rather than whine about how even the mediocre players are eating your lunch.
(Score: 0) by Anonymous Coward on Friday December 22 2017, @05:29PM (2 children)
No. Fuck you. I am completely sick and tired of smug fucking pieces of shit like you.
You want to talk fairness. It is unfair that the number of jobs FOR YOU is not zero while for others the number is ZERO. Do you understand the number ZERO?
Do you know why the number is ZERO? Smug shit like you and your motherfucking bullshit service economy replaced everything. There was a time when an antisocial loser could get a job that did not require any service skills whatsoever. There was a time when a TECH JOB was NOT A SOCIAL JOB. But you asshole socialites had to fucking ruin the tech industry with your social bullshit.
You fucking cunts outsourced every job in America except the service sector, and you expect everyone to like it? We do not like it, motherfucker!
Where is the economic diversity for everyone who cannot work a service job, you motherfucking asshole?
Fix your broken fucking economy, you stupid motherfucker.
(Score: 1) by khallow on Saturday December 23 2017, @08:39AM
This is not even remotely relevant to your situation.
I see you're trying to bullshit me again. It's not zero for you either. While there is a time for pep talks, there also is a time for truth. You're not trying.
Even if those two statements were true, so what? It's not at all unreasonable to expect you to adapt just like you would to changes in technology.
I'm sure I've done more than that. I'm completely responsible for New Coke and every poorly thought-out GUI change, for example.
Not your problem. You don't have any problem communicating here.
I've proposed solutions [soylentnews.org] before. And we have this peculiar situation where the things you think are broken in society aren't what are broken in society. It helps to understand what the actual problems are. But I suppose that's part of your "social skills" deficit.
(Score: 2) by MichaelDavidCrawford on Sunday December 24 2017, @12:08AM
I'm gonna tell your Mama on you.
Yes I Have No Bananas. [gofundme.com]
(Score: 1, Touché) by Anonymous Coward on Thursday December 21 2017, @07:35PM
Be self-employed! Don't suck boss cock! Suck customer cock directly!
Such great cocksucking advice. You really make me want to suck your fucking newsletter.
(Score: 0) by Anonymous Coward on Thursday December 21 2017, @09:58PM (7 children)
You're very confused about what MDC is doing. He's not being smart. He's being TRENDY. Apps are TRENDY. Apple Mac drivers are TRENDY. Cryptocurrency is TRENDY.
Smarts don't pay shit. TRENDS PAY FUCKING BILLIONS.
I don't follow trends. I go in the exact opposite direction of the trend. I fuck your trend and fuck you to hell.
(Score: 2) by MichaelDavidCrawford on Friday December 22 2017, @12:29AM (3 children)
Then you could get a job so you can move out of your mother's basement
If you save some of your money you could even buy a car. With your own wheels you could even get a cute girlfriend!
Yes I Have No Bananas. [gofundme.com]
(Score: 0) by Anonymous Coward on Friday December 22 2017, @06:21PM (1 child)
Advice from trend follower: follow the trend.
Specific trend to follow: look like a metrosexual hipster. Or if bald, look like a dickhead.
Ever seen photos of Alan Cox? Wow, man, like, how, did, he, ever, work, anywhere. And with Linux, too. Linux kernel development is, like, too high profile for unkempt hippies like Alan Cox. Linus must have fired Alan Cox for the smell. We all know Linus Torvalds is clean shaven, Linus is a good little corporate toady, and his sweary rants are a fucking act.
(Score: 1) by khallow on Saturday December 23 2017, @08:41AM
(Score: 0) by Anonymous Coward on Friday December 22 2017, @09:36PM
P.S.: Alan Cox was married. To a woman. How is it even possible for Alan Cox to attract a woman with hair like his? Simple. You're a lying dickhead, Crawford, and you have no credibility.
Were you even homeless? Living in a tent in your mother's backyard while she kept your room in the house warm for you doesn't count.
(Score: 1) by khallow on Friday December 22 2017, @02:38AM (2 children)
I don't care what you call it.
So what?
My apathy continues. You don't have to follow trends - I certainly am not stopping you. But I get this vibe that you think this is all grossly unfair. It's not. You get to decide what's important to you and these "TRENDY" people do the same.
If you want a piece of the action, you should learn how to play the game rather than talk a good game about how untrendy you think you are. If you don't, then why are you posting in the first place?
(Score: 0) by Anonymous Coward on Friday December 22 2017, @05:55PM (1 child)
Try to understand something, please. I do not want a piece of your action. I do not care about your game. I object to people like you who expect everyone to play your game. I object because while you play your game, you are forgetting that people need to have opportunity to earn money to live, or people starve. Your game leaves many with no opportunity at all, and people starve.
Roman Emperor Vespasian once said, "You must allow my poor hauliers to earn their bread."
American President Franklin Delano Roosevelt once said, "An American Government cannot permit Americans to starve."
Of course I do not expect an entitled asshole like you to understand the meaning of these quotes.
This question is answered already. Maybe you are having trouble comprehending the answer?
Let me serve as a reminder of how the other side lives in our divided society where opportunity exists only for motherfucking socialites and antisocial nerds starve to death.
(Score: 2) by MichaelDavidCrawford on Sunday December 24 2017, @12:10AM
... you could have applied for a job.
Yes I Have No Bananas. [gofundme.com]
(Score: 2) by MichaelDavidCrawford on Wednesday December 20 2017, @05:40AM (1 child)
http://www.warplife.com/mdc/essays/mental-illness/flat-affect.html [warplife.com]
Yes I Have No Bananas. [gofundme.com]
(Score: 0) by Anonymous Coward on Thursday December 21 2017, @11:56PM
Mine more dickcoin, silver tongued cocksucker.