Cryptocurrency Mining

[Thor]

Where is koeksGHT, I heard he likes risers.

 

[techead]

3 amd rigs, hopefully adding more soon.

Sheesh ! That's a lot of dosh per day

You got your return on investment yet? When?

 

[Gtx Gaming]

Sheesh ! That's a lot of dosh per day

You got your return on investment yet? When?

Currently looks like first week of August then they will be paid off.

 

[akescpt]

Where is koeksGHT, I heard he likes risers.

Wtf. Gonna take a stroll down there and liberate some of those poor risers

 

[Purply]

Thor planning a 6gpu x 20 rig setup

 

[Mr Scratch]

Thor planning a 6gpu x 20 rig setup

30

 

[Stealth_Chicken]

All my components have arrived and system is built and been running since Wednesday evening. Haven't played around with overclock yet, will do some of that this weekend. Each card is pulling about 140w according to software, which from what I have read here the 1070's can do a lot better with some tweaking. I have found a supplier in China for those watt meter plugs with our socket and will be bringing one or two in. If anyone would like one let me know, I will add it to my order.

I also just have a question regarding PSU load. I have a corsair HX1200 and have ordered 3 more cards from amazon arriving next week sometime. My boet has also ordered 2 1080ti's for his gaming pc which he will mine with when not gaming. I am wanting to use his current 1080 to mine with when it gets replaced by using a m.2 riser. Will this work first of all? And is it okay to put the PSU under such a load (assuming it will be running close to its rating of 1200w)?

Thanks,
Ryan

 

[Progenix Oj101]

Tell me if your cards arrive, I know dozens of people who've had their Amazon orders cancelled a few days/weeks down the line

 

[techead]

All my components have arrived and system is built and been running since Wednesday evening. Haven't played around with overclock yet, will do some of that this weekend. Each card is pulling about 140w according to software, which from what I have read here the 1070's can do a lot better with some tweaking. I have found a supplier in China for those watt meter plugs with our socket and will be bringing one or two in. If anyone would like one let me know, I will add it to my order.

I also just have a question regarding PSU load. I have a corsair HX1200 and have ordered 3 more cards from amazon arriving next week sometime. My boet has also ordered 2 1080ti's for his gaming pc which he will mine with when not gaming. I am wanting to use his current 1080 to mine with when it gets replaced by using a m.2 riser. Will this work first of all? And is it okay to put the PSU under such a load (assuming it will be running close to its rating of 1200w)?

Thanks,
Ryan

I can't speak for the 1080's, but I can for the 1070's and 1060's

I'm getting ~121W load on my 1070's, thats with a a power target of 75%.

If you going to have 4 of those, that's ~484W

That leaves ~716W for the remainder of the system and 2 x 1080's

In my opinion that is MORE than enough.

 

[Stealth_Chicken]

I can't speak for the 1080's, but I can for the 1070's and 1060's

I'm getting ~121W load on my 1070's, thats with a a power target of 75%.

If you going to have 4 of those, that's ~484W

That leaves ~716W for the remainder of the system and 2 x 1080's

In my opinion that is MORE than enough.

My apologies, I don't think I was very clear. So the system with the 1200w PSU will be running 6 1070's. Currently running 3 pulling 140w each. Adding 3 more next week. So at 140w each we are at 840w. Adding the 1080 that is currently in my brothers gaming pc once he gets the ti's would probably add between 120-150w onto that 840w, so now we are at 960w for cards only. (Assuming 120w draw from the 1080) So we are probably talking about between 100-1100w draw.

 

[Progenix Oj101]

Two questions - first, how are your 1070s drawing almost their rated TDP for full load with ROPs firing, etc, when you're just mining (others have gotten their mining power draw per 1070 under 100w), and given your 1070 power draw how do you plan to get the 1080 Ti to draw half of its TDP?

 

[Willie Trombone]

LOL...
https://bitcointalk.org/index.php?topic=1944976.0

So when you register on Bitmain, they have a section for you to fill out your bitcointalk.org forum name. I assume they either run the site or are heavily invested in it based on that (now locked) thread above.
Anyone else a member there? There's an interesting debate about places with the worlds cheapest electricity. Venezuela is apparently one. Not that it'll last no doubt... and then there's Zika and bloody riots
Apparently electricity is free in Venezuela.

 

[Stealth_Chicken]

Two questions - first, how are your 1070s drawing almost their rated TDP for full load with ROPs firing, etc, when you're just mining (others have gotten their mining power draw per 1070 under 100w), and given your 1070 power draw how do you plan to get the 1080 Ti to draw half of its TDP?

At the moment I have just plugged the 1070's in and started nicehash. I haven't played around with clocking and power targets etc.. That is this weekends task.

The 7th card is going to be just a normal 1080 (not a ti) that the 2 1080 ti's are going to replace. That 1080 has been mining and the draw is 150w at the moment with no undervolt and power target at 120%. So my guess is that optimising the card would get it running between 120-150w. Hence using those figures.

Sorry for the confusion caused. Hope this clears it up.

EDIT: The gist of it all is me trying to find out if it is too much of a load to have between 1000-1100w draw on a 1200w PSU.

 

[Archer]

EDIT: The gist of it all is me trying to find out if it is too much of a load to have between 1000-1100w draw on a 1200w PSU.

No, not for the first few years anyway - PSU capacity diminishes over time. Plus I'd expect you to be running at ±900W

 

[Kwerty]

Besides physically having the slots, does a motherboard require special BIOS to support 6 GPUs?

I know for example the Biostar TB250-BTC you need to enable miner mode in the bios for Windows to recognize the full 6 cards.

I found a non Biostar board with enough slots but I'm not sure if it's going to work.

 

[Fulcrum29]

LOL...
https://bitcointalk.org/index.php?topic=1944976.0

So when you register on Bitmain, they have a section for you to fill out your bitcointalk.org forum name. I assume they either run the site or are heavily invested in it based on that (now locked) thread above.
Anyone else a member there? There's an interesting debate about places with the worlds cheapest electricity. Venezuela is apparently one. Not that it'll last no doubt... and then there's Zika and bloody riots
Apparently electricity is free in Venezuela.

Huh? What has Bitmain to do with the above thread? Yes, Bitmain, they have the Antminer product and their own cloud operation, Hash Nest, like Genesis Mining and the many others. Listing your bitcointalk username is optional, like with many other similar sites, ICOs and Slack.

bitcointalk.org is the Bitcoin and alt. currency Forum, that is where any entity will propose or promote their services, products or ideas, and they use the contributions on there to communicate back to the members.

I lurked there, but have subscribed, but it is better to be involved on Slack.

I know that they are privately owned though, and had a presence prior to any established exchange. You can ask the administrators like Sirius and Theymos themselves.

 

[Willie Trombone]

Huh? What has Bitmain to do with the above thread? Yes, Bitmain, they have the Antminer product and their own cloud operation, Hash Nest, like Genesis Mining and the many others. Listing your bitcointalk username is optional, like with many other similar sites, ICOs and Slack.

bitcointalk.org is the Bitcoin and alt. currency Forum, that is where any entity will propose or promote their services, products or ideas, and they use the contributions on there to communicate back to the members.

I lurked there, but have subscribed, but it is better to be involved on Slack.

I know that they are privately owned though, and had a presence prior to any established exchange. You can ask the administrators like Sirius and Theymos themselves.

OK, I was substituting 'Bitcoin' with 'Altcoin' in my head. The first statement made no sense until I replaced Bitcoin as it appears in the article.

 

[Fulcrum29]

OK, I was substituting 'Bitcoin' with 'Altcoin' in my head. The first statement made no sense until I replaced Bitcoin as it appears in the article.

I will say this, bitcointalk is also the place where many are gambling on pushing scams and malware.

Hint: Never download an untested miner or wallet, or one without reputation.

You will also need to do you research on new coins and ICOs. These two are a gamble in any case, some are downright dodgy.

 

[Hazelbag]

About 6 rigs per breaker if you've got nothing else plugged in on that circuit.

As for tax, there are plenty of legal ways to minimise it, but yes, I don't plan to mess around with SARS. Will be treating this as normal income (same as if I was trading shares). I'll switch to a company once I've got 3 or more rigs. Doesn't make sense in my situation to switch before then

But it depends if you withdraw your ETH or not. We have a guy in France sourcing cards for us and once he finds them we pay him with ETH or BTC. So there are no actual funds going to your personal account. So how would SARS then TAX you in that?

 

[Willie Trombone]

But it depends if you withdraw your ETH or not. We have a guy in France sourcing cards for us and once he finds them we pay him with ETH or BTC. So there are no actual funds going to your personal account. So how would SARS then TAX you in that?

Like any Forex. Keep tabs of the rates - get an average for the year and convert to ZAR to get the investment gain value. You are taxed on that. That's the theory anyhow. No doubt they will catch up and we'll be discussing in more detail soon, but rather be prepared.
Nobody wants our esteemed Gvt to clamp down and penalise miners or switch to more VAT based revenue which really messes things up for the poor.