Crypto Currency and NFT News and Discussion Thread
#201
Whats up with RDX owners?
iTrader: (9)
I bailed and rolled what I gained into BTC. Might come back if it dips enough.
Also, RH sucks. I submitted the sell order and it sat pending for nearly an hour, and finally went through a bit lower than I had originally submitted for. I only lost about $100, but a friend of mine lost even more because of the delay.
Also, RH sucks. I submitted the sell order and it sat pending for nearly an hour, and finally went through a bit lower than I had originally submitted for. I only lost about $100, but a friend of mine lost even more because of the delay.
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meh.
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#203
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#204
Whats up with RDX owners?
iTrader: (9)
I sold what I put into BTC last night and rolled it into Doge at 50 cents this morning. There looked like there was some decent support in the mid 40 cent range, so I didn't think it would drop further. So far, it's working out. BTC is down a bit more and Doge is up
#205
Team Owner
shit at the end i was the one that Held Still HOLDING!!!
The dip was not as bad as i expected. Maybe because it never hit $1.
But his mom's part during the opening was really unnecessary and backfired. The weekend update part was all it needed.
The dip was not as bad as i expected. Maybe because it never hit $1.
But his mom's part during the opening was really unnecessary and backfired. The weekend update part was all it needed.
Last edited by oonowindoo; 05-09-2021 at 06:43 PM.
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Started mining with NH quickminer, but damn how the hell do I get this thing to STFU. so loud since the fans are at 100%.
Doesn't ever get this loud when gaming too.
For a little bit it was around 80% fan speed. seemed like a sweet spot in terms of noise vs speed.
Doesn't ever get this loud when gaming too.
For a little bit it was around 80% fan speed. seemed like a sweet spot in terms of noise vs speed.
Last edited by Mizouse; 05-13-2021 at 01:36 PM.
#208
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#209
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But apparently there is an issue with the current version that will keep the fans at 100%.
so I have to manual overclock/undervolt with either their own separate OC software or MSI afterburner.
I’ll give that a try later because it’s honestly ridiculously noisy at 100% (over 3000rpm) fan speed.
also with the 3080 and 3090 the vram gets ridiculously hot because they are using GDDRX memory.
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#212
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To be honest, this daily roller coaster is getting old....
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Yea with NiceHash quick miner they have an optimize setting that will auto overclock/undervolt your graphics card.
But apparently there is an issue with the current version that will keep the fans at 100%.
so I have to manual overclock/undervolt with either their own separate OC software or MSI afterburner.
I’ll give that a try later because it’s honestly ridiculously noisy at 100% (over 3000rpm) fan speed.
also with the 3080 and 3090 the vram gets ridiculously hot because they are using GDDRX memory.
But apparently there is an issue with the current version that will keep the fans at 100%.
so I have to manual overclock/undervolt with either their own separate OC software or MSI afterburner.
I’ll give that a try later because it’s honestly ridiculously noisy at 100% (over 3000rpm) fan speed.
also with the 3080 and 3090 the vram gets ridiculously hot because they are using GDDRX memory.
Hash rate is a little low for a 3080 at 88MH/s, but ill let it stabilize and try the medium setting.
I initially set it to high and it immediately crashed my computer.
#214
Safety Car
If I could go back in time...I wouldn't buy bitcoins...I'd mine as many coins as I could in the very early days (mine and keep at least 100,000+) and then enjoy life as a billionaire now.
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I gave up with the nicehash optimized settings and decided to manually OC my 3080 founders edition with MSI Afterburner.
So I googled some settings other people used and tried those out. Man I must've gotten shit for the silicon lottery because lots of them crashed my setup.
might also explain why my FPS isnt quite as high as other peoples benchmarks.
Anyways, think I figured out a nice balance of noise vs performance. I can probably push the memory a bit faster, but all it did was give me higher vram temps and a minor bump to hashrate.
So I googled some settings other people used and tried those out. Man I must've gotten shit for the silicon lottery because lots of them crashed my setup.
might also explain why my FPS isnt quite as high as other peoples benchmarks.
Anyways, think I figured out a nice balance of noise vs performance. I can probably push the memory a bit faster, but all it did was give me higher vram temps and a minor bump to hashrate.
#216
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What size power supply do you have?
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Kind of small, but it works for the 3080.
it’s the Corsair SF600 600w power supply.
I can’t add on any additional cards unless I get one of those PSU bridges and convert an m.2 slot to a PCIE slot and put my current NVMe SSD in the back of the motherboard.
it’s the Corsair SF600 600w power supply.
I can’t add on any additional cards unless I get one of those PSU bridges and convert an m.2 slot to a PCIE slot and put my current NVMe SSD in the back of the motherboard.
#218
Safety Car
Man, that nice hash founder has a pretty shady past. If I were to mine I wouldn't trust to work with nicehash...
Are there ways to mine these things "raw" (so you get 100% of the profit) instead of having to go through a 3rd party that takes their cut like nicehash?
Are there ways to mine these things "raw" (so you get 100% of the profit) instead of having to go through a 3rd party that takes their cut like nicehash?
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I gave up with the nicehash optimized settings and decided to manually OC my 3080 founders edition with MSI Afterburner.
So I googled some settings other people used and tried those out. Man I must've gotten shit for the silicon lottery because lots of them crashed my setup.
might also explain why my FPS isnt quite as high as other peoples benchmarks.
Anyways, think I figured out a nice balance of noise vs performance. I can probably push the memory a bit faster, but all it did was give me higher vram temps and a minor bump to hashrate.
So I googled some settings other people used and tried those out. Man I must've gotten shit for the silicon lottery because lots of them crashed my setup.
might also explain why my FPS isnt quite as high as other peoples benchmarks.
Anyways, think I figured out a nice balance of noise vs performance. I can probably push the memory a bit faster, but all it did was give me higher vram temps and a minor bump to hashrate.
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#220
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#221
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Instead of corrupt government technocrats you now have to go through a layer of 3rd parties that can be super shady (NiceHash etc.) and you still have big players manipulating the market for their own greed (Elon Musk, etc.)
I'll watch from the sidelines and see how this whole thing develops.
When you mine, why could you not have proof of work/concept reside on your local PC and be able to "prove" that you own so much ETH/BTC/doge/etc? Is there a reason why you can't really mine by yourself without being a big player?
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I was getting random crashes with those settings I had earlier, so i brought the core clock up to -175 and the memory clock to +900.
Still getting around 94MH/s, once the display shuts off i get around 95-96.
So far no crashes.
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you wont make any money mining yourself. No way you can match the hashing power of a pool or those large warehouse sized mining operations.
you could, it just won’t be worth the effort as you’ll be losing money. The difficulty of mining increases. It’s why way back when you could mine Bitcoin with just your cpu and then gpu. Now those methods won’t cut it.
Last edited by Mizouse; 05-16-2021 at 05:25 PM.
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i hope not
thanks Elon
thanks Elon
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This mining is interesting and making my room nice and toasty.
ive made since Friday:
0.00028119 BTC
≈ $12.20
but i was not mining full time. I think collectively about 18-20 hours.
I don't trust mining 24/7 yet since i was getting crashes which reset the system to run at 100% fan speed and full power draw.
But ever since my adjustments yesterday I so far havent had any crashes.
ive made since Friday:
0.00028119 BTC
≈ $12.20
but i was not mining full time. I think collectively about 18-20 hours.
I don't trust mining 24/7 yet since i was getting crashes which reset the system to run at 100% fan speed and full power draw.
But ever since my adjustments yesterday I so far havent had any crashes.
#229
Sanest Florida Man
Renewable energy won’t make Elon Musk love bitcoin again
A digital currency economist breaks down why renewable energy doesn’t really make bitcoin or Dogecoin sustainable
Elon Musk shouldn’t hold his breath waiting for bitcoin to become environmentally friendly enough for Tesla to take it as payment. Musk announced yesterday that Tesla was walking away from the cryptocurrency because of the fossil fuels used for bitcoin mining and transactions. In the announcement, he left the door open for Tesla to accept bitcoin again if mining the cryptocurrency eventually runs on “more sustainable energy.” But some experts caution that renewable energy is not a silver bullet for bitcoin’s sustainability problem.
The Verge spoke with Alex de Vries, a digital currency economist who has consistently called out bitcoin’s growing greenhouse gas emissions. He runs the blog Digiconomist, which keeps a running tab on bitcoin’s estimated energy use and emissions. While some other researchers and blockchain enthusiasts have been more optimistic about the potential for renewable energy to slash bitcoin’s emissions, de Vries has published papers arguing that the climate calculations just don’t add up. The Verge spoke with de Vries about why he’s still skeptical about bitcoin going green through renewables, other ways the cryptocurrency could cut its pollution, and how bitcoin compares to alternatives like Dogecoin.
This interview has been lightly edited for length and clarity.
Did you have any reaction to the news in February that Tesla was going to accept bitcoin for payments?
I was shocked at the time because bitcoin isn’t an ESG-friendly currency. We know that a big part of the mining is done by using Chinese coal; that’s something that isn’t new information. Mining itself is a really big lottery where the machines that are participating are just generating useless computations all the time so they’re literally wasting resources for making new blocks for this blockchain. It’s really weird that a company that has a mission statement that involves decarbonizing the planet gets involved with a currency that ultimately involves the waste of natural resources, specifically fossil fuels.
“I WAS SHOCKED AT THE TIME”The bitcoin network is responsible for 55 million metric tons of CO2 annually, which is as much as a nation like Singapore. Ironically, it’s also more than the entire estimated net gains from deploying electric vehicles.
What was your reaction to yesterday’s news that Elon decided to backtrack on that?
Well, my initial response was better late than never.
In his statement, Elon Musk says that they’re doing this because of an increasing amount of fossil fuels used for bitcoin mining. Now in all honesty, there hasn’t been that much change. Let’s be real, Tesla announced that it would accept bitcoin two months ago, and not that much has changed since then. The total amount of resources going into the network has gone up by a bit, but we already knew that was primarily Chinese coal.
It’s interesting that Musk says Tesla will go back to bitcoin “as soon as mining transitions to more sustainable energy.” Do you think that can happen? Why or why not?
In all honesty, it makes no sense.
In the past few years, miners have only been getting renewables from the south of China, that has been their only major source of renewables. And it doesn’t last. It lasts for only four months a year and because the production is seasonal.
“IN ALL HONESTY, IT MAKES NO SENSE”That’s the problem with renewable energy sources in general: they can’t provide these machines with 24/7 power all year long. For example, it was recently argued that miners could be using solar power for bitcoin mining, which sounds like a great idea. But if you read what should happen to do that, bitcoin miners would need to be shut down during half the day in order to make that work.
That makes no sense if you’re an investor in these machines, because you’re paying a whole lot of money for a device that the moment you get, it starts becoming obsolete. If you miss out on half a day, you’re missing out on a level of income that’s just never going to come back. You want to have these machines running 24/7 if you want to maximize your profit, which is a lot easier if you’re running on Chinese coal than if you’re running on solar power for half a day — so there’s no real incentive to do that.
You published a paper that argued that renewable energy will not solve bitcoin’s sustainability problem — can you walk me through why?
A big amount of bitcoin miners can always cause problems no matter what type of energy they’re using. It can lead to outages if mining becomes really popular in the particular spot. What also might be happening is that you’re using renewable energy that you could have used a different way to clean up the grid elsewhere.
Even if, hypothetically speaking, this whole network was running on renewable energy. Still, it doesn’t solve the sustainability issues of bitcoin. Bitcoin uses excessive amounts of hardware. You have a bunch of specialized equipment that can only do bitcoin mining. The moment they become unprofitable, there’s nothing you can do with them. You can’t repurpose them, you can’t use them as a home computer. It’s trash. And they don’t last very long, on average maybe one and a half years. So you’ve got millions of devices that are becoming obsolete extremely fast. That just results in a big pile of electronic waste down the line. It’s already the case that a single bitcoin transaction is equivalent to throwing away an iPhone 12 mini in terms of materials, that’s already how bad it is.
Are there better solutions to bitcoin’s sustainability problem?
The good thing is that Elon Musk did mention the alternative cryptocurrencies that don’t have the same environmental impact. This is a very important point because the energy consumption issue in bitcoin relates to the proof of work algorithm. That is a specific part of the bitcoin software that is not necessarily present in alternative cryptocurrencies because there’s different ways to do the block creation process. In bitcoin, it depends on computational power, but there are alternatives. Proof of stake is the most popular one.
CRYPTOCURRENCIES THAT DON’T HAVE THE SAME ENVIRONMENTAL IMPACTThe second largest cryptocurrency of the moment, Ethereum, is right now running proof of work but is planning to change that to proof of stake. What that does is it makes the block creation process depend on wealth, rather than computational power, so there’s no incentive to have energy-hungry specialized hardware. That fixes both the energy need, as well as the hardware need. If you have something running on proof of stake, it wouldn’t even be 0.1 percent of the energy needed to run bitcoin.
If Ethereum can turn to proof of stake, theoretically, so can bitcoin, which would actually fix the environmental issues. But so far there has been no move inside the community to make such things happen.
Musk has also talked up Dogecoin in the past. How does Dogecoin compare to bitcoin? Do you see it becoming as bad for the climate as bitcoin?
The thing is, if something runs on proof of work, which is the case in Dogecoin, then it’s just as bad as bitcoin. The impact that Dogecoin has currently is a lot smaller than bitcoin, but that’s because the value of Dogecoin is a lot less and these things are directly related with each other. That’s kind of been the essence of my work over the past few years. There is a direct relationship between the value of these assets, how much money is being earned by the miners, and how much they’re spending on electricity. Very simply said, the more valuable an asset, the more money will be made by miners, the more they will spend on resources like hardware and energy. So, the fact that Dogecoin has a smaller impact than bitcoin is just because the value is a lot less, but if they were the same size, the impact would be equally bad.
“JUST AS BAD AS BITCOIN”We’ve already started to see the value of bitcoin drop after Musk’s announcement. Are we starting to see emissions or energy use fall as well?
No. The price has gone down by maybe 15 percent. That does reduce the potential future emissions of the network. But it doesn’t reduce today’s emissions because, right now, bitcoin mining is extremely profitable. As it stands, the network’s impact will still continue to increase, unless the price goes down by a lot more.
How much more would it take to see a decline in emissions?
I wrote about that in a paper recently. The current price is still around $50,000 per coin today, although I haven’t checked it for the past hour. Below $30,000, that’s where the current energy consumption would start to go down, so it has a long way to go. That’s kind of the bottom line.
The Verge spoke with Alex de Vries, a digital currency economist who has consistently called out bitcoin’s growing greenhouse gas emissions. He runs the blog Digiconomist, which keeps a running tab on bitcoin’s estimated energy use and emissions. While some other researchers and blockchain enthusiasts have been more optimistic about the potential for renewable energy to slash bitcoin’s emissions, de Vries has published papers arguing that the climate calculations just don’t add up. The Verge spoke with de Vries about why he’s still skeptical about bitcoin going green through renewables, other ways the cryptocurrency could cut its pollution, and how bitcoin compares to alternatives like Dogecoin.
This interview has been lightly edited for length and clarity.
Did you have any reaction to the news in February that Tesla was going to accept bitcoin for payments?
I was shocked at the time because bitcoin isn’t an ESG-friendly currency. We know that a big part of the mining is done by using Chinese coal; that’s something that isn’t new information. Mining itself is a really big lottery where the machines that are participating are just generating useless computations all the time so they’re literally wasting resources for making new blocks for this blockchain. It’s really weird that a company that has a mission statement that involves decarbonizing the planet gets involved with a currency that ultimately involves the waste of natural resources, specifically fossil fuels.
“I WAS SHOCKED AT THE TIME”The bitcoin network is responsible for 55 million metric tons of CO2 annually, which is as much as a nation like Singapore. Ironically, it’s also more than the entire estimated net gains from deploying electric vehicles.
What was your reaction to yesterday’s news that Elon decided to backtrack on that?
Well, my initial response was better late than never.
In his statement, Elon Musk says that they’re doing this because of an increasing amount of fossil fuels used for bitcoin mining. Now in all honesty, there hasn’t been that much change. Let’s be real, Tesla announced that it would accept bitcoin two months ago, and not that much has changed since then. The total amount of resources going into the network has gone up by a bit, but we already knew that was primarily Chinese coal.
It’s interesting that Musk says Tesla will go back to bitcoin “as soon as mining transitions to more sustainable energy.” Do you think that can happen? Why or why not?
In all honesty, it makes no sense.
In the past few years, miners have only been getting renewables from the south of China, that has been their only major source of renewables. And it doesn’t last. It lasts for only four months a year and because the production is seasonal.
“IN ALL HONESTY, IT MAKES NO SENSE”That’s the problem with renewable energy sources in general: they can’t provide these machines with 24/7 power all year long. For example, it was recently argued that miners could be using solar power for bitcoin mining, which sounds like a great idea. But if you read what should happen to do that, bitcoin miners would need to be shut down during half the day in order to make that work.
That makes no sense if you’re an investor in these machines, because you’re paying a whole lot of money for a device that the moment you get, it starts becoming obsolete. If you miss out on half a day, you’re missing out on a level of income that’s just never going to come back. You want to have these machines running 24/7 if you want to maximize your profit, which is a lot easier if you’re running on Chinese coal than if you’re running on solar power for half a day — so there’s no real incentive to do that.
You published a paper that argued that renewable energy will not solve bitcoin’s sustainability problem — can you walk me through why?
A big amount of bitcoin miners can always cause problems no matter what type of energy they’re using. It can lead to outages if mining becomes really popular in the particular spot. What also might be happening is that you’re using renewable energy that you could have used a different way to clean up the grid elsewhere.
Even if, hypothetically speaking, this whole network was running on renewable energy. Still, it doesn’t solve the sustainability issues of bitcoin. Bitcoin uses excessive amounts of hardware. You have a bunch of specialized equipment that can only do bitcoin mining. The moment they become unprofitable, there’s nothing you can do with them. You can’t repurpose them, you can’t use them as a home computer. It’s trash. And they don’t last very long, on average maybe one and a half years. So you’ve got millions of devices that are becoming obsolete extremely fast. That just results in a big pile of electronic waste down the line. It’s already the case that a single bitcoin transaction is equivalent to throwing away an iPhone 12 mini in terms of materials, that’s already how bad it is.
Are there better solutions to bitcoin’s sustainability problem?
The good thing is that Elon Musk did mention the alternative cryptocurrencies that don’t have the same environmental impact. This is a very important point because the energy consumption issue in bitcoin relates to the proof of work algorithm. That is a specific part of the bitcoin software that is not necessarily present in alternative cryptocurrencies because there’s different ways to do the block creation process. In bitcoin, it depends on computational power, but there are alternatives. Proof of stake is the most popular one.
CRYPTOCURRENCIES THAT DON’T HAVE THE SAME ENVIRONMENTAL IMPACTThe second largest cryptocurrency of the moment, Ethereum, is right now running proof of work but is planning to change that to proof of stake. What that does is it makes the block creation process depend on wealth, rather than computational power, so there’s no incentive to have energy-hungry specialized hardware. That fixes both the energy need, as well as the hardware need. If you have something running on proof of stake, it wouldn’t even be 0.1 percent of the energy needed to run bitcoin.
If Ethereum can turn to proof of stake, theoretically, so can bitcoin, which would actually fix the environmental issues. But so far there has been no move inside the community to make such things happen.
Musk has also talked up Dogecoin in the past. How does Dogecoin compare to bitcoin? Do you see it becoming as bad for the climate as bitcoin?
The thing is, if something runs on proof of work, which is the case in Dogecoin, then it’s just as bad as bitcoin. The impact that Dogecoin has currently is a lot smaller than bitcoin, but that’s because the value of Dogecoin is a lot less and these things are directly related with each other. That’s kind of been the essence of my work over the past few years. There is a direct relationship between the value of these assets, how much money is being earned by the miners, and how much they’re spending on electricity. Very simply said, the more valuable an asset, the more money will be made by miners, the more they will spend on resources like hardware and energy. So, the fact that Dogecoin has a smaller impact than bitcoin is just because the value is a lot less, but if they were the same size, the impact would be equally bad.
“JUST AS BAD AS BITCOIN”We’ve already started to see the value of bitcoin drop after Musk’s announcement. Are we starting to see emissions or energy use fall as well?
No. The price has gone down by maybe 15 percent. That does reduce the potential future emissions of the network. But it doesn’t reduce today’s emissions because, right now, bitcoin mining is extremely profitable. As it stands, the network’s impact will still continue to increase, unless the price goes down by a lot more.
How much more would it take to see a decline in emissions?
I wrote about that in a paper recently. The current price is still around $50,000 per coin today, although I haven’t checked it for the past hour. Below $30,000, that’s where the current energy consumption would start to go down, so it has a long way to go. That’s kind of the bottom line.
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#232
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#233
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They bought $1.5b after his SNL appearance
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interesting how mining profitability has gone up alot the past couple hours while the value has gone down.
Last night my estimates were around $13/day. i think.
now:
Last night my estimates were around $13/day. i think.
now:
#235
Team Owner
Dude....10 years ago you wouldn't even need to buy bitcoin. You can just mine them on any computer (when CPU mining was still viable in the very early days) and get thousands and thousands of them while you sleep.
If I could go back in time...I wouldn't buy bitcoins...I'd mine as many coins as I could in the very early days (mine and keep at least 100,000+) and then enjoy life as a billionaire now.
If I could go back in time...I wouldn't buy bitcoins...I'd mine as many coins as I could in the very early days (mine and keep at least 100,000+) and then enjoy life as a billionaire now.
just make sure you share some of those coins when you get back.. cuz remember i am the one who told you the secret of time traveling.
#236
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Buy now guys...
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#238
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Maybe I should fire up my 5700. What to mine says I could make around $9/day.
Last edited by doopstr; 05-19-2021 at 04:55 PM.
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#239
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It would have to take a complete nose dive for me to take a loss. So I’m still HODL!