The Bitcoin Thread

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Thor187 said:
Don't do this. Your going to regret it, keep in mind it gets more difficult.
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C4Cat said:
Bitcoin transactions are going to have to be processed as long as the bitcoin economy exists so a big enough rig over the long term may be worthwhile. I mean, personally, I agree with you and wouldn't take the risk because I'm a conservative low risk kind of guy when it comes to money but if people want to take the risk it could pay off in the end. Big risk sometimes equals big gains. If bitcoin becomes an accepted currency all over the world and is used by the majority of people in the world, he will never run out of transaction to process. Yes, the business model will have to change as time goes by and the halvings take place but that will be true for all large scale miners.
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balrog said:
With Junk Status and the inevitable Rand tank, I think it will be very profitable for alt-mining. Better buy your gear ASAP, before it becomes too expensive.
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With the risk factor, that is why I am looking to do it under a Pty company. It will also hopefully unlock a business loan to buy the processing power I need to get going with a bang and paddle through the Rand storms.

dj2381 said:
Is anyone here mining ETH or DASH at the moment?
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Im' still very noob with this, but do you mean any of these?
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jacosmit said:
With the risk factor, that is why I am looking to do it under a Pty company. It will also hopefully unlock a business loan to buy the processing power I need to get going with a bang and paddle through the Rand storms.
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This is what I've been looking at https://www.bitmart.co.za/product/baikal-giant-a900-miner/

If you consider the price of Dash atm around R860 and this miner can apparently produce just over 10 Dash a month you will become profitable in 7.5 months, but then again it might crash and it will all become pointless, I am really interested in doing something like this, and once 1 is paid for get another, it is very risky though.
 
Yes, basically the same. Wife wants to go slow and small to proof the concept. I'm looking at an Avalon 7 farm at R120K that apparently does 0.5BTC a month.

As stated above and on so many sites, the problem is electricity. If you can somehow generate enough kWatts on your own, I think your head will be through. Other alternative is to 3 phase your house... :whistle:
 
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blaaislaai said:
I have no idea unfortunately, they only seem to mention CPU and GPU support on their website
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We looking on expanding to a GekkoScience 8Gh/s unit paired to my PC's GTX1060. Need to shutdown the other two computers as they are just killing power with a GTX560Ti and GT630 between them.

Hopefully NiceHash sees it via the drivers here and claps it.
After a month or two another 8Gh/s unit, then a USB hub and 2 more etc.

There are also a RaspberryPi 3 in my immediate future to reduce the electrical footprint even more.

I hope to have done my homework by October so we can decide to go for it or not.
 
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From what I've read I thought cloud mining was a scam?
 
I'm mining ETC through nanopool atm. But just with a single RX470 in my PC. LOL! I am very tempted to build just a 4 x GPU dedicated rig first to see how things go... But will probably wait until end of June when I get some funds free.

Have made a couple of grand with trading so far, which I can put towards a rig as well.
 
dj2381 said:
From what I've read I thought cloud mining was a scam?
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Cloud mining is a scam 99.9% of the time, because while bitcoin is great for staying anonymous, its also great for staying anonymous ;) At best you'll make less BTC than if you went for it by yourself at the same upfront investment, at worst you flush money down the drain.
Don't confuse this with pool mining however
 
balrog said:
I'm mining ETC through nanopool atm. But just with a single RX470 in my PC. LOL! I am very tempted to build just a 4 x GPU dedicated rig first to see how things go... But will probably wait until end of June when I get some funds free.

Have made a couple of grand with trading so far, which I can put towards a rig as well.
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I was in the same boat a year ago, running 3x RX480 mining at the moment. Nicest thing of it all, the other 2 cards paid themselves off already. Was when ETH struggled around $11-13
 
Has anyone here ever bought from Bitmart?
 
dj2381 said:
Has anyone here ever bought from Bitmart?
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No, not yet. But I spoke to their Jacques last night. Quite an insightful chap and he did not shoot me down like most people do when talking about taking small steps to begin. He gave me some good advise when I was ready to take the big step and gave me a couple of suggestions too. Unfortunately they do not have small USB Block Erupters and as such, wont see my money for a while.

Talking of block erupters, anyone have experience with the 8Ghps GekkoScience sticks. They look to be my next few steps in building and growing a POC farm.
 
jacosmit said:
No, not yet. But I spoke to their Jacques last night. Quite an insightful chap and he did not shoot me down like most people do when talking about taking small steps to begin. He gave me some good advise when I was ready to take the big step and gave me a couple of suggestions too. Unfortunately they do not have small USB Block Erupters and as such, wont see my money for a while.

Talking of block erupters, anyone have experience with the 8Ghps GekkoScience sticks. They look to be my next few steps in building and growing a POC farm.
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I was looking at their Baikal Miners, they don't have any stock, in fact I can't find stock anywhere in the world.
 
dj2381 said:
I was looking at their Baikal Miners, they don't have any stock, in fact I can't find stock anywhere in the world.
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Well, I suggest send them a mail from their contact list. They don't keep (much if any) stock. You order, they order, deliver and install. I wouldn't mind an Avalon 7 farm or 10.
 
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