Cryptocurrency Mining

F1 Fan said:
How did you manage to purchase 2 for 42k? Does that exclude customs?

Also, the antminer has a 180day warranty? But shipping it to and fro will be a massive problem.
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No idea on the import duties so we will definitely have to factor that in.
https://www.dutycalculator.com/country-guides/Import-duty-taxes-when-importing-into-South-Africa/
Duty rates in South Africa vary from 0% to 45%, with an average duty rate of 18.74%. Some goods are not subject to duty (e.g. laptops, electric guitars and other electronic products).
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The USD price I paid for the miner itself was $1600 (last week Friday)

morkhans said:
This whole things is high risk so really all about your risk appetite. I've also gone with the GPU option knowing the ROI is probably 5-6 months (at current rates). If it all tanks before then hopefully I can break even selling the hardware or point it to the new up and coming coin.
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Exactly. You and almost all of Amazon, newegg and other big retailer's clients. Just look at what was purchased with the various cards they have for sale... risers, big PSUs, etc.
 
Sabre Wulf said:
The USD price I paid for the miner itself was $1600 (last week Friday)
Click to expand...

Why would the manufacturer actually sell those miners instead of just keeping them for themselves, assuming they work as advertised?
 
F1 Fan said:
How did you manage to purchase 2 for 42k? Does that exclude customs?

Also, the antminer has a 180day warranty? But shipping it to and fro will be a massive problem.
Click to expand...

JayM said:
Why would the manufacturer actually sell those miners instead of just keeping them for themselves, assuming they work as advertised?
Click to expand...

One could ask AMD and Nvidia the same thing. It all depends on what your main business is.
 
Sabre Wulf said:
One could ask AMD and Nvidia the same thing. It all depends on what your main business is.
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Ndivia and AMD are not going to throw away their primary markets for something as high risk/time limited as mining.

Also, assuming these things actually are profitable, would it not be better to ship them somewhere where the power costs are much lower? SA is not that cheap anymore.
 
JayM said:
Also, assuming these things actually are profitable, would it not be better to ship them somewhere where the power costs are much lower? SA is not that cheap anymore.
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Now you have me... what difference does it make to Bitmain who buys their hardware and where they sit?
They are way more invested in the industry than you think.
For all you and I know they might be trying to drive the industry in a certain direction.
 
Sabre Wulf said:
Now you have me... what difference does it make to Bitmain who buys their hardware and where they sit?
They are way more invested in the industry than you think.
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They probably don't care who buys them or where they sit. The question is for SA miners in general - why bother shipping here when you could should somewhere else where there is cheaper power? Won't that be more profitable?
 
JayM said:
They probably don't care who buys them or where they sit. The question is for SA miners in general - why bother shipping here when you could should somewhere else where there is cheaper power? Won't that be more profitable?
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If you have someone on that side that you trust to run them, of course. But what exactly is electricity cost in the big picture? About 7%?
Besides, we're by far not the most expensive...

how_much_does_electricity_cost__large-copy-8.png
 
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Sabre Wulf said:
If you have someone on that side that you trust to run them, of course. But what exactly is electricity cost in the big picture? About 7%?
Besides, we're by far not the most expensive...
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I was under the impression it was much more than 7%.

Iceland for example you can get 100% renewable power for about 1/3 the cost of SA.
 
I see Thor dodged my request of a pic, oh well.

Started playing with simplemining OS. My few rigs run far more stable now than using windows. Had to flash my cards bios though. Anyone else using simplemining?
 
JayM said:
Why would the manufacturer actually sell those miners instead of just keeping them for themselves, assuming they work as advertised?
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I think they are much happier making a stupid amount of profit on the rigs, which has 0 risk.
 
JayM said:
I was under the impression it was much more than 7%.

Iceland for example you can get 100% renewable power for about 1/3 the cost of SA.
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Who do you know in Iceland?
And what are land / rent costs?
 
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dj2381 said:
Why not both?
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They do want a big piece of the pie evidently. I see they're making some folks upset about their BTC hard fork.

https://bitcoinmagazine.com/articles/bitmain-responds-uasf-another-hard-fork-announcement/

Bitmain’s Bitcoin

So what. specifically, will Bitmain’s Bitcoin look like?

Bitmain announced it will create Bitmain’s Bitcoin exactly 12 hours and 20 minutes after the UASF activation, though this is configurable. At that specific point in time, under Bitmain’s new rules, a block must be included in the blockchain that’s bigger than one megabyte. This will automatically “split” the chain — or create a new chain depending on how you look at it. All existing full Bitcoin nodes would reject this block and ignore this chain, and would continue to follow the chain adhering to Bitcoin’s current consensus rules.

From that point on, Bitmain will first mine on Bitmain’s Bitcoin chain privately for three days. After these three days, Bitmain will “officially” launch Bitmain’s Bitcoin to the public if three circumstances are met.
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Experimental equihash-zcash pool

If anybody is willing to help test... for a start I need to know how many solutions per second you are getting with your rig or with one or two of your cards if you don't want to interrupt your entire rig.

Pool fee set to zero for initial testing. Web Frontend not yet functional but can be viewed at http://41.185.31.64

The only client (miner) I have tested so far is nhequiminer which can be found at: https://github.com/nicehash/nheqminer/releases

From command prompt/shell:

nheqminer.exe -cd 0 -l 41.185.31.64:3357 -u t1b855PRMPAXukuenx3zsq54vQQCN8Zbbgj

-cd 0 will use the first CUDA graphics card

change to eg. -cd 3 to use your 4'th graphics card and if you want to use more than one you can do:
-cd 0 1 2
for example

Change -u t1b855PRMPAXukuenx3zsq54vQQCN8Zbbgj to your ZCASH address if you are planning on staying longer than a couple of minutes (chances are extremely low that a block will be solved as of yet, but who knows).

Using a Jaxx wallet's ZCASH address should be fine.
 
Some ninja just climbed on :D

<info> clients: 1, workers: 1, cpus: 0, gpus: 0, asics: 0, other: 0, latency: 0, power: 119466
<info> clients: 1, workers: 1, cpus: 0, gpus: 0, asics: 0, other: 0, latency: 0, power: 115200
<info> clients: 2, workers: 2, cpus: 0, gpus: 0, asics: 0, other: 0, latency: 0, power: 110933
<info> accounting: balance=0.0008 req/balance=0.00 req/queue=0.00 immature=0.00 users=0.00 queued=0.00, net=0.0008
<info> clients: 2, workers: 2, cpus: 0, gpus: 0, asics: 0, other: 0, latency: 0, power: 110933
Click to expand...

I am getting 130 to 140 sol/s with 1 gtx 1050 (the 1'st 'client' in the list).

Note that nheqminer shipped with NiceHashMiner (as opposed to the one in the link in the previous post) only gave 7 to 8 sol/s for some reason.
 
Setting log level to 2
[19:04:44][0x00000870] Using SSE2: YES
[19:04:44][0x00000870] Using AVX: YES
[19:04:44][0x00000870] Using AVX2: NO
[19:04:44][0x00001a9c] stratum | Starting miner
[19:04:44][0x00002230] miner#0 | Starting thread #0 (CUDA-DJEZO) GeForce GTX 1050 Ti (#0) M=1
[19:04:44][0x00001a9c] stratum | Connecting to stratum server 41.185.31.64:3357
[19:04:44][0x0000148c] miner#1 | Starting thread #1 (CUDA-DJEZO) GeForce GTX 1050 Ti (#1) M=1
[19:04:44][0x00001a9c] stratum | Connected!
[19:04:44][0x00001a9c] stratum | Subscribed to stratum server
[19:04:44][0x00001a9c] miner | Extranonce is 00000000
[19:04:45][0x00001a9c] stratum | Authorized worker t1PtxTcAM6zyzQnQcEZotM3htdEvrVE9A2R
[19:04:45][0x00001a9c] stratum | Target set to 0020000000000000000000000000000000000000000000000000000000000000
[19:04:45][0x00001a9c] stratum | Received new job #138153#3
[19:04:48][0x0000148c] stratum | Submitting share #4, nonce 000000000000000000000000010000000000000000000000000000d4
[19:04:48][0x00001a9c] stratum | Accepted share #4
[19:04:54][0x00001a9c] stratum | Received new job #138154#2
[19:05:00][0x00000870] Speed [15 sec]: 132.6 I/s, 245.8 Sols/s
[19:05:01][0x0000148c] stratum | Submitting share #5, nonce 0000000000000000000000000100000000000000000000000000019d
[19:05:01][0x00001a9c] stratum | Accepted share #5
[19:05:15][0x0000148c] stratum | Submitting share #6, nonce 0000000000000000000000000100000000000000000000000000059d
[19:05:15][0x00001a9c] stratum | Accepted share #6
[19:05:16][0x00000870] Speed [15 sec]: 147.8 I/s, 281.8 Sols/s
[19:05:16][0x0000148c] stratum | Submitting share #7, nonce 00000000000000000000000001000000000000000000000000000600
[19:05:16][0x00001a9c] stratum | Accepted share #7
[19:05:17][0x0000148c] stratum | Submitting share #8, nonce 00000000000000000000000001000000000000000000000000000630
[19:05:17][0x00001a9c] stratum | Accepted share #8
[19:05:31][0x00000870] Speed [15 sec]: 147.467 I/s, 270.733 Sols/s
[19:05:33][0x00002230] stratum | Submitting share #9, nonce 00000000000000000000000000000000000000000000000000000aea
[19:05:34][0x00001a9c] stratum | Accepted share #9
[19:05:38][0x00002230] stratum | Submitting share #10, nonce 00000000000000000000000000000000000000000000000000000c5f
[19:05:38][0x00001a9c] stratum | Accepted share #10
[19:05:46][0x00000870] Speed [15 sec]: 147.6 I/s, 270.133 Sols/s
[19:06:02][0x00002230] stratum | Submitting share #11, nonce 00000000000000000000000000000000000000000000000000001305
[19:06:02][0x00001a9c] stratum | Accepted share #11
[19:06:02][0x00000870] Speed [15 sec]: 147.533 I/s, 271.467 Sols/s
 
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