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  #11  
Old 03-26-2021, 03:27 PM
Hibren Hibren is offline
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Originally Posted by RecondoJoe [You must be logged in to view images. Log in or Register.]
You know what's crazy is, we haven't even noticed a difference on our electric bills since we started mining. I think it's because we live in a small rural town because I've had friends complain about the fact that their power bill stays the same even when they're out of town for a month. Apparently they just guesstimate how much power people should be using or something rather than sending someone out to read meters?
Electric company's bill on estimated usage based on past usage for the location, they do quarterly or yearly meter readings based on the area. In a few months you're going to get nuked with a bill that's triple your average or more when they go out and reconcile the difference. Have none of you ever payed your own bills?

P.S. I know this from persona experience, I got nailed with a $1200 account closing bill when I moved out of a town house I lived in with 2 other people after not having meter readings done for like 2 years because it was in our basement and people weren't home when they came. Go submit a meter reading online.....
  #12  
Old 03-26-2021, 03:36 PM
HalflingSpergand HalflingSpergand is offline
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for tuna: Be less of a gay try hard ur starting to sound like budnik
Last edited by HalflingSpergand; 03-26-2021 at 03:51 PM..
  #13  
Old 03-26-2021, 03:40 PM
Jibartik Jibartik is offline
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I am literally gonna setup my PC to start mining because of this thread, i got an extra one just chillin here thats like on all the time.

does it suck up a lot more power mining than when it's just idling? im sure.. but how much?

Ill at least report back on the 26th of next month to see what my bill/results were!
  #14  
Old 03-26-2021, 03:49 PM
RecondoJoe RecondoJoe is offline
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Originally Posted by magnetaress [You must be logged in to view images. Log in or Register.]
U think it's a good investment for stimulus? I'd rather spend mine on a gym membership.
I use Ethereum to pay for my gym membership, literally, hehe.
  #15  
Old 03-26-2021, 03:50 PM
RecondoJoe RecondoJoe is offline
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Originally Posted by Jibartik [You must be logged in to view images. Log in or Register.]
I am literally gonna setup my PC to start mining because of this thread, i got an extra one just chillin here thats like on all the time.

does it suck up a lot more power mining than when it's just idling? im sure.. but how much?

Ill at least report back on the 26th of next month to see what my bill/results were!
I think it actually depends on what you're mining with. Like the 1660 Ti I have.. when you over-clock it, you actually get a higher rate by turning the power supply down... below it's normal settings. It uses about as much electricity as a light bulb...
  #16  
Old 03-26-2021, 04:04 PM
Knuckle Knuckle is offline
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crypto currencies stopped being profitable for individuals to mine a long time ago, US municipilities bill on kw/hr, they are also considering "peak load" billing, which will not be cheaper. You are not making a return on investment at this stage unless you mine some penny crpyto that shoots up and you sell after. In which case, it would of probably been cheaper to just buy the crypto before it shot up.
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Old 03-26-2021, 04:18 PM
RecondoJoe RecondoJoe is offline
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Originally Posted by Knuckle [You must be logged in to view images. Log in or Register.]
crypto currencies stopped being profitable for individuals to mine a long time ago, US municipilities bill on kw/hr, they are also considering "peak load" billing, which will not be cheaper. You are not making a return on investment at this stage unless you mine some penny crpyto that shoots up and you sell after. In which case, it would of probably been cheaper to just buy the crypto before it shot up.
This is literally fake news, fam. The only thing that has changed happened within the last couple of months (price of GPU went up). Now instead of breaking even in 2 months, you break even in 6-8 months. But if you already owned the GPUs and bought them for gaming, you're already more profitable by beginning to mine than you would be by choosing not to.

In this particular case, someone who cannot even afford a 3060 could literally finance a computer and allow the Ethereum to make the monthly payment on it and still pocket $50/monthly afterwards. You really shouldn't talk about things you know nothing about.

Edit: I think you're one of those people who misinterprets people like Vosk when he says that it's cheaper to buy Crypto than it is to mine it. That's only true to in the short term. Someone bought $800 worth of Ethereum, wow that was fast. Someone bought an $800 GPU to mine Ethereum. 3 months later they've only mined $600 worth of Ethereum. Wow, they look so dumb compared to the person who just bought the Crypto. 12 months later they have $2400 worth of Ethereum, which is roughly $1600 worth of Ethereum after you account for the cost of the card. If you're looking to day trade Ethereum, you're probably better off buying some crypto to trade with. But if you're patient and mine crypto, you'll earn significantly more crypto once you hit the break-even point, which for most GPUs, is 8-10 months in the current market (price of GPUs won't stay this high forever, it's not sustainable).

You'll never convince me it's not profitable however, because I literally used GPUs I had sitting around for months, barely being used, to literally buy more GPUs. Imagine that. Having a $1200 GPU arrive in the mail that you bought using Crypto you never spent a dime on, other than electricity costs (which are extermely low for non ASIC miners).
Last edited by RecondoJoe; 03-26-2021 at 04:24 PM..
  #18  
Old 03-26-2021, 04:26 PM
magnetaress magnetaress is offline
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You should start a non profit charity that takes donations to buy hardware for mining rigs to reinvest in a video gamer rehabilitation program and organic food preparation course.

U can thank me later after you move to your pleasure palace on the floating cities of venus.
  #19  
Old 03-26-2021, 04:39 PM
Knuckle Knuckle is offline
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Quote:
Originally Posted by RecondoJoe [You must be logged in to view images. Log in or Register.]
This is literally fake news, fam. The only thing that has changed happened within the last couple of months (price of GPU went up). Now instead of breaking even in 2 months, you break even in 6-8 months. But if you already owned the GPUs and bought them for gaming, you're already more profitable by beginning to mine than you would be by choosing not to.

In this particular case, someone who cannot even afford a 3060 could literally finance a computer and allow the Ethereum to make the monthly payment on it and still pocket $50/monthly afterwards. You really shouldn't talk about things you know nothing about.

Edit: I think you're one of those people who misinterprets people like Vosk when he says that it's cheaper to buy Crypto than it is to mine it. That's only true to in the short term. Someone bought $800 worth of Ethereum, wow that was fast. Someone bought an $800 GPU to mine Ethereum. 3 months later they've only mined $600 worth of Ethereum. Wow, they look so dumb compared to the person who just bought the Crypto. 12 months later they have $2400 worth of Ethereum, which is roughly $1600 worth of Ethereum after you account for the cost of the card. If you're looking to day trade Ethereum, you're probably better off buying some crypto to trade with. But if you're patient and mine crypto, you'll earn significantly more crypto once you hit the break-even point, which for most GPUs, is 8-10 months in the current market (price of GPUs won't stay this high forever, it's not sustainable).

You'll never convince me it's not profitable however, because I literally used GPUs I had sitting around for months, barely being used, to literally buy more GPUs. Imagine that. Having a $1200 GPU arrive in the mail that you bought using Crypto you never spent a dime on, other than electricity costs (which are extermely low for non ASIC miners).
I know a significant amount of it, because I did cost-analysis breakpoints when I dumped my 401k and chose to invest in Crypto vs. hardware to mine in 2018, and I work in finance audit. If you don't understand the most basic facts of crypto, that the equation to mine the coin becomes increasingly difficult to solve a node with the currency therefore increasing the time you run a GPU under load per payout, then you are missing the point. The illusion that your electric bill does not significantly increase is bogus, and GPU prices have and continue to be inflated due to the demand for making mining rigs, the value of that is for the warehouse level operations which have the advantage of economy of scale, doing due diligence in that arena has netted similar results, that the cost benefit shrinks and requires larger scale and significantly better upfront to turn a good margin longterm compared to where we were sitting in 2016.

If you want to screenshot when you mine past your breakout for equipment cost, I'll gladly run an estimate to run that Power supply 24x7 that duration based on your zipcode to see what that adds to your breakeven.
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  #20  
Old 03-26-2021, 04:50 PM
HalflingSpergand HalflingSpergand is offline
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He doesnt pay his electric bill
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