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This really reminds me of the gold fever in america, when the gold was almost depleted. So people who sold equipment to miners made more money than the goldminers themselves.
Norek ive thought the same thing since day one of bitcoin mining. its like a pyramid scheme, only the people who got in Right at the beginning are going to end up positive.
Actually according to historical documents, MOST money was made by the equipment suppliers from the beginning to the end of the gold rush. It may not be a scam in the traditional sense, but definitely has shut out the average person without access to expensive equipment. I'd imagine it as a narrowing pipe, with the difficulty level getting higher only the strong and rich folks will squeeze through the narrowing pipe, and ultimately succeed.
This is nothing like that,.. we have another 100 years, before all the bitcoins will be mined... people are selling machines now, because they are watching the markets, and they think bitcoin is going to crash and burn? LMAO... Bitcoin is here to stay, it will always go up and down just like Gold. It's still, and always will be higher than it started at! So you people are DAF! lol ..but thanks for the cheaper hardware!
hey guys! Could you please help, I'm a beginner and about to order Litecoin Miner L7 from unigrade, how much LTC will I get in a month? Does anyone have that one?
many of the ASIC producers have also been caught mining with customers equpment for some time before shipping of the product. some even up to several months (know personally someone that preordered an ASIC miner that was obsolete when it reached him and had over 5000 hours on it)
You know what, I've changed my mind about cryptocurrency. I hope better ASICs keep coming out with better hash rates so it drives the difficulty even higher still to the point that it makes gpu mining unprofitable at every level of perfomance, driving down the price of GPUs back to their normal prices. :) Good job ASIC devs!
This is precisely what I thought to myself watching this as well. "Good, eventually these ASICs will make GPUs worthless for mining and we can finally have our MSRPs back again."
+Eric Del Toro You're talking about creating an application specific hardware device, that does essentially what a graphics card does. The reason you cannot use ASIC miners on those coins, is because they require different types of calculations. You would essentially need to re-create a graphics processor to do it.
In the end, NVidia & AMD are getting huge sales from miners, which mean more money for video card companies. Mining complexity rises so fast that soon miners would be forced to use specialized equipment, leaving us with nice graphic adapters to enjoy.
You know who made money in the gold rush? Just enough miners struck it rich to draw in others, but those others mostly went broke. The real money went to the people who sold the equipment. Same thing in the bitcoin mining rush.
The guys who made the equipment were those who originally made a mint off of bitcoin when it was nothing like what it is now. They self-funded the ASIC development, as it costs millions in R&D but they were rich.
Sean Price That is the dumbest analogy ever. You're comparing apples to oranges, in this case, apples to microchips. People lost everything because there was limited gold and work to go around via man hours. Levi was rich because he invested money in a idea and it worked. Bitcoin and other cryptos are going no where as they cannot be forgotten. Look up what decentralized and deflationary means. Beats paying $20 for a loaf of bread in 25 years because fiat money is a scam
Cool story bro, there are other cryptos other than Bitcoin. Bitcoin is running out and that is what makes it a deflationary currency. One day the dollar will crash and virtual currencies will be king.
I have 0.13 btc leftover on my multiwallet soft since i bought some stuff many years ago, when 1 btc was at 90 bucks and i forgot the pass i made -_- Honestly, i doubt it was a civil person who made this crypto crap, i personally suspect Chinese government. I wonder how severe will the impact be when crypto collapse, because history show all cash pyramids inevidently end up like that. But the difference is that crypto-pyramid is tousands of times bigger than anything that was created before.
Something also to note is the difficulty increase. That will really push the ROI out exponentially. Unless you can get the units for retail right when they come out and have access to really cheap or free electricity then the ASIC's aren't really going to be a good investment for the hobby miner. Unless you plan to almost immediately flip it on ebay for an inflated price. which, honestly, isn't a bad idea. GPU rigs, as noted, are easy to part out and re-sell. And the secondary market on GPU's right now is fairly inflated so the prices are pretty high. Mostly due to GPU miners.
so optimally, the best solution is to use GPU mining, and to resell the GPUs once they've paid themselves off+ some small figure (say $1,000), so you can essentially continue to profit on the sale of the used gpus. (and by which time newer GPU hardware (with better hashing ability) will have come out, which you can then re-invest and repeat?
It ain’t just miners taking the GPUs. Its also regular folks who could give a crap about gaming or mining who have bots buying the GPUS so they can make money reselling.
Miners and gamers. See the whole system was built to house just gamers and that's all it did for decades. So with any influx of people. Or people just deciding they want 2 cards instead of 1 now. It was gonna hit a crash. In this case though it's 5x the sales numbers if not higher and really they just need to make more cards. But they won't because high demand low supply is amazing for their bottom line.
Reselling GPU at a "fraction of the cost"... In this climate I have to disagree. I bought an Radeon RX 480 2 years ago for $200. They are selling on the used market for $450. And my GTX titan (700 series) is still going for $400 used. I should have invested in GPUs 2 years ago :p
mtktm yeah, but if the crypto crashes to a level that is not profitable anymore, than there will be a shit ton of rx470/480/570/580 and all of the nvidia cards for literarly a few bucks a piece. Right now there is around 10 500 000 GPUs world wide mining crypto.
You should have gone the next step and invested in Nvidia as a company. Via capital gains alone they are up 150% in less than 10 months. For that matter I'll never know why anyone would consider any form of crypto mining after about 2012 or so. Once ASIC's came on the scene and corporate interests got involved the cost benefit ratio became ridiculously risky. Every now and again some derivative cypto like etherium makes a splash and everyone rushes to that side of the ship, it is effectively the same as playing penny stocks and hoping you get in early on the next big thing.
mtktm you ain't never lying . I have a Casio calculator that does adding and subtracting and weird basement turds are peeking at it with glee through my windows.
yep. most solar arrays can be bought for a few thousand (or cheaper if you're not planning on powering anything but the mining circuit) and then power is negligible cost
The cost of solar power is higher than normal power from water and nuclear. Most miners nowadays have free electricity for some reason. Cryptocurrencies based on processing fake work need to die out for the sake of humanity.
M A Luke built 3 PCs each with different fans configuration (positive, negative pressure and a balanced one) and supposedly left them running for 1 year to see which one is better, there's a video about it posted last year
That's not that crazy, the A3 will certainly earn over 3800 Euros over its lifespan, the people who got them early will already be halfway to ROI. What is comical is people paying $5000 for used Antminer S9s even though Bitmain regularly release batches of them for $2280.
Better to keep your car, get a job, and soon enough, you will have a computer, and not know what to do with all this money you have just sitting around. You might even start investing. Just don't get a girlfriend tho, those take money and then some more. When you put money into a woman, you don't get a good return. Just look at the divorce statistics.
Perhaps they do already have a job? Besides, a job is no excuse for infinitely rising prices. Would you be happy if your precious bitcoin suddenly quartered in price? No, you wouldn't, it works both ways. This mining garbage has doubled the price of EVERY decent gpu. 1070s are over 1 grand, they were like 500 at launch. Imagine if car prices doubled, suddenly nobody has a car.
This isn't late, this is still early in the grand scheme. But yes, with ASICs you *need* to buy them very early, as in, you need to be among the first or at worst, second batch of buyers who get them. Otherwise you'll be buying them after the amount of return per day is much, much lower. The S9 isn't a bad buy at all though as BTC will certainly go much higher in the future, the Bitcoin it earns will be worth a lot more later this year I think. Linus should have mentioned how important buying an ASIC early in its life is, honestly all these LTT crypto videos have been pretty bad with poor rig planning (that 13 GPU + 3 PSU machine is terribly inefficient) and a lack of critical info. Why would they buy a D3 and L3 over two more S9s? It makes no sense at all, the S9 is more profit, there is little reason to buy the other two. C'mon, LTT. The S9 is an exception to the rule as it's like 18 months old but still earns a good amount even with the BTC price in the gutter.
My S9 has been solo mining non-stop 24/7 for the last 4+ years. Might seem like alot of wasted power, but it hit 1 block (6.25 coins) about a year ago. Im leaving it going till it just burns itself up, it def paid for itself...lol On the other hand my Z9's and Z11 cant even cover there power costs at this point.
can you come back to mining? did you sell off you equipment or keep it running? how has your profitability changed over the last 14months? how do the RTX cards compare? try mining with the Titan cards you have, how do they compare? i look forward to an update video!!!
4:05 Don't forget those warranty stickers mean nothing from a legal standpoint due to the Magnuson-Moss warranty Act. removing or breaking them does not void warranty, the only thing that does is if something occurs which is user caused damage. Saying that, it may just make your life harder as you have to argue with them about it, so best avoided if you can. BUT, you are still well entitled to your warranty
The difference in this is that without mining you have no currency or transactions. So people should mine just to support the Alt coin they like the features of, the payment from mining is just a cherry on top.
if youre in the US then go to a microcenter, they will sell the gpu at retail price if you spend 500 dollars on the rest of the components (if you plan on building a 600 dollar gaming rig, the gpu's you would use are not effected by mining anyways)
Logan, I am aware they have a slight price increase, but its just due to them being the only gpu's that aren't mining, so naturally more gamers will buy them. 229.99 (the average on newegg) is less than a 50% increase in price. Link to the cheapest one there below: www.newegg.com/Product/Product.aspx?Item=N82E16814133640&ignorebbr=1&cm_re=gtx_1050-_-14-133-640-_-Product. Also you can get a 1050 non ti or a rx 560 for 139 dollars (which is about 20 dolllars or 18% over retail) linked below: www.newegg.com/Product/Product.aspx?Item=N82E16814137058&ignorebbr=1&cm_re=gtx_1050-_-14-137-058-_-Product www.newegg.com/Product/Product.aspx?Item=N82E16814150813&ignorebbr=1&cm_re=rx_560-_-14-150-813-_-Product
In 2021 my 3060Ti is making almost as much money/day as that D3 with a fraction of the power draw, and I use it to play games as well (it helps that BTC is currently valued at $50k/coin). Crazy how much can change over the course of 3 years.
Way to save on money-do your mining during the winter, and save on heating bills by just having your ASIC(s) blowing on you...if you don't mind the noise
@@economiaemquarentena4592 Still not profitable unless you steal graphics cards and electricity. And with a global ban on cryptomining coming up, also stupid to invest in.
Would be possible where there is plenty of sun and use solar. Would need batteries. Again this would make it almost pointless unless you had 1000s of them.
Research which controller board each one uses (if they even list them) about 99% of them are using atmel based boards. Look for one that has an ARM base controller, or one that can be replaced with a ARM base board. If looking for a board to upgrade to, look at smoothieboard.
what are you going to print? tall stuff? maybe a delta if so, i own one i think it does a great job and can print up to 30cm in height and a bed with 18 cm radius
Bought a Wanhao Duplicator i3 in early 2017, very capable machine at 350 bucks, you only need to put in 2 screws to assemble it (literally 2). But the CR10 has come down in price and also does very good prints at an even larger size 30x30x40cm vs only 20x20x18cm on the i3.
Nvidia and AMD really need to jack up the prices of graphics cards since miners love buying so many of them. They get a bigger wallet to develop more in the later future and the miners get fucked over the most, it’s a win/win
I've always been a fan of well designed proof of stake coins, If you invested 3k into a good pos coin at the right price it can be very profitable. I would mention what I'm buying but I''m waiting for it's price to come back down so mentioning it would be stupid of me. ODN looks decent and has a good block return of 20 coins per block (and is dipping good lately) DP is one I've been staking for a while and makes me a couple $ a day. Once you understand the system it just takes a little math to figure out how many you need in a wallet to create enough "weight" on the network (instead of hashpower for mining) to be able to find 1 block + a day on a coins network, no special equipment just coins in their wallet (tip don't deposit them into a wallet in 1 big chunk break it up into smaller deposits) It is so much simpler than trying to figure out GPU mining which many non techy people would never figure out on their own, anyone can figure out how to stake, making it a potentially far more decentralized system. (what ever you do don't chase all time highs if your wanting to stake, wait for low average price)
Doug Horvath Ok, the ppl who repayd for their gpus by now with mining, would just turn the miners off, but the ones who didnt, they would sell their gpus. Thats about right.
Questions. How does ambient temperature affect hashrate and power consumption? That is GPU's and ASIC's. How has hashrate for ASIC's increased over time and what that means for future products?
>How does ambient temperature affect hashrate and power consumption? Just like a normal CPU, it doesn't affect clock speed (or hash rate) unless the temperature gets high enough to require thermal throttling. Power consumption will likely not change either. >How has hashrate for ASIC's increased over time and what that means for future products? Well, we need to understand how an ASIC works in comparison to a CPU. We can build electronic modules to multiply and add numbers. Say we want to take an input, x, multiply it by 23 then add 5. Well, a CPU would do this like this: Take x, input it to the multiplication module with 23. Get your answer in one clock outputted. Then take that answer, input it into the addition module with 5, and output it in one clock. 2 clocks to get our answer. Now what about an ASIC. Well, if we were designing an asic, we could just chain the multiplication and addition modules together. The multiplication output would instantly go to the addition input, and we could do all of this in one clock. Problem is that you lose the ability to do just addition or just multiplication. Of course this is a bit of a bad example since you can just multiply by 1 or add 0, but there are other operations where this cannot be done, and this is where the gains come from. Other than that, ASICs get rid of the unnecessary modules off a CPU which should allow them to run faster since its likely that they were slowing down clock speed. And instead of those modules, they cram more ASIC circuits there, making one chip capable of even more calculations.
Hopefuly difficulty will raise so much that it will be absolutely pointless to mine with graphic cards so the price can finaly go back to normal which was high already enough ffs.
It does become harder but the average trend of the coins is that they also increase in value, so the net effect is that you still get the same ROI. If ROI decreases, then in theory, people should buy less GPUs. But that is not what is happening because ROI hasnt gone down by much. The difficulty on mining is not the only factor on a ROI, the price also affects ROI.
Ha. When ASICs first came out, I preordered several of them. Spent like $8000 on some of the first models. By the time I got them on the network, they weren't profitable anymore. Making less than $4 a day. The market was flooded with them within a week. I made more money by flipping them for 175-200% of their price, and was able to turn that money around into a less speculative market.
I thought it became a noise maker to drown out background noise. leave it plugged in just remove the ethernet cable and close your wallet account so you don't get robbed.
There are states in North America where electricity is cheap enough to make a good profit mining BTC on new ASIC miners. Everything cheaper than 10 US cents per kWh is worth it. For example lowest prices for electricity is 4 US cents per kWh in China and some parts of Russia Federation they making a real good money on mining.
guys, could u tell me why gpu prices have risen since dec. '17 even though it gets harder and harder to mine? it's about 100$ more for a 1060 in europe. How can that be a thing?
It isn hard to understand why, if it becomes harder than you just buy more GPUs. Not only that, but the overall trend of rising coin prices continues to create a demand for GPUs.
but the more expensive mining gets, the more people should stay away from it shouldnt they? sure most of the miners sell their hardware to get the investment back but the harder it gets, the less money/minute you get...so my point is most people should recognize bitcoin mining as getting more and more unprofitable instead of jumping on the train or even buy another wagon if you know what i mean. tl;dr: feels bad to have a gtx760 at this point of time.
Again, it does become harder but the average trend of the coins is that they also increase in value, so the net effect is that you still get the same ROI. Ultimately you aren't wrong though, if ROI decreases, then in theory, people should buy less GPUs. But that is not what is happening because ROI hasnt gone down by much. The difficulty on mining is not the only factor on a ROI, the price also affects ROI.
I remember in 2012 I did the math on how long it would take my GTX 660 using CUDAminer to mine one Bitcoin, and it would've been a month of nonstop uptime, give or take a few days. I thought "That's just not worth the hassle" since my computer was in my room at the time. Oof.
Just a suggestion, but i'm laughing at the dust screen attempt. I think you would be much better served by putting a dust shroud around the entire lower shelf pillars ( bulk bug screen comes in a role) and creating a hard air tight lid on top of the encasement an access port
I used Antminers S2 after their "profitability" to heat my home a bit cheaper. The math was easy. 1200 Watts of heat out of my heater costs what 1200 Watts cost. 1200 Watts of heat from my Antminer costs 1200 Watts minus whatever it generates.
If you want to do a useful mining video. Why not do a tutorial on how to get started and running for those of us gamers with only 1 or 2 GPUs? Might as well bank some cash while unable to buy a GPU at a reasonable price.
Download Nicehash Legacy miner, get a Nicehash wallet. 1: Unzip Legacy Miner, start it, benchmark the currencies (You HAVE to do this to mine). 2: Enter the Nicehash wallet address (On the website in your wallet info). 3: Start mining after checking in that equipment to use. 1060 6GB, 1070, 1080, 1080ti, 570, 480, 580, vega, R9 390 are all good for mining and will make you varied amounts of money. Right now I'm making about 2-3$ a day with a bad market and non mining drivers for just my Ryzen 1700 and 580, if the BTC price rises, so does the amount of cash you earned, i make somewhere around 100$ a month if not more no matter how the market is :) People will keep crying about miners forever, even tho retailers aren't doing shit to help gamers. Those who are already sitting on cards might as well use them to mine instead of just scream and salt.
