So if your a normal user and hate GPU mining,get over it.Try this

[Psycho Sonny]

But there's very often some comeback there, in terms of regulations on financial advice, protection schemes etc. It's not as blatant, nor is it punted to the general public in the same way.



It's not in the same league, bitcoin is anti-efficient. As the value rises more more electricity is competitively burned through just to service the network, until the price of the electricity is roughly equal to the value of the block reward. And this is for a network that can really only support a handful of transactions a second. The 'fiat' system as you put it services the entire world. Bitcoin could barely service a mid-sized town and burns through more power than a lot of small to mid-sized countries.
This energy use is in order to preserve its decentralisation properties, which are at this point more or less a lie anyway, because only the companies with access to the newest ASICs can actually participate in BTC mining now.

You must live on a different planet.

There's Muppets selling classes teaching people how to trade.

Yet anyone with 2 brain cells knows if you can make money trading and are good enough to teach others.

You would be trading and making billions rather than charging £100 for a class.

They give them a 10 week training course and then when it fails say you need our more advanced lessons. Another £1000 and then leave them with the crap they know that they couldn't get to work which is why they became teachers instead of traders.

Completely unregulated market.

 

[Psycho Sonny]

@Psycho Sonny Tbh I'm surprised you're into mining. I thought (from GD threads) that you have a massive BTL portfolio that you manage... why would you need to get into something like mining where you're barely making £100 a day from your 10 3080s? Small change isn't it?

I haven't mined in years.

I did it way back when and I have all my remaining crypto sitting on a nano ledger for when I plan to sell it. Probably in 10-20 years time.

I was making £1200 a month back then so not quite £100 per day. But if you think £1200 a month for doing nothing isn't worth bothering about then more for me.

As for my portfolio how do you think my rental properties have no mortgage what so ever? Paid cash.

That £1200 a month soon transforms into a lot more the longer you hold o to it.

 

[FoxEye]

As you say, more for the others. I have absolutely no intention of jumping on this train. If I'm going to make any money it'll be doing something beneficial (as far as I see it), and not something that offends my conscience

A few years back I was concerned with the problem of making money, but thankfully it passed These days I couldn't care less. Money is not worth stressing over. If I end up poor and destitute, well there's always the docks, and failing that, Dignitas

 

[ljt]

As you say, more for the others. I have absolutely no intention of jumping on this train. If I'm going to make any money it'll be doing something beneficial (as far as I see it), and not something that offends my conscience

A few years back I was concerned with the problem of making money, but thankfully it passed These days I couldn't care less. Money is not worth stressing over. If I end up poor and destitute, well there's always the docks, and failing that, Dignitas

Same here, it's sickening the amount of gpu processing power being used to mine that could be actually used for so much good for disease research.

 

[K1LaW8tt5]

As for my portfolio how do you think my rental properties have no mortgage what so ever? Paid cash.

why didn't you pay in bitcoin?

 

[Psycho Sonny]

Same here, it's sickening the amount of gpu processing power being used to mine that could be actually used for so much good for disease research.

Seti and folding at home are literally a complete waste of time and resources.

Show me one thing they have achieved?

If disease research needed processing power to solve problems we would have zero diseases. Unfortunately that's not the case.

Bill gates is already tackling the disease front for us and doing a much better job than any gpu farm would.

why didn't you pay in bitcoin?

The same reason why I didn't pay in gold bars.

 

[gpuerrilla]

Same here, it's sickening the amount of gpu processing power being used to mine that could be actually used for so much good for disease research.

The only time people gave a **** was this coronavirus! I was crunching grid projects around 2000 folding proteins etc. you had people wasting cycles looking for aliens. You think the regular gamer is going to put good use to GPU horsepower that costs them £2 a day to 'research' your having a laugh.

<dad> Son. Why is out electric bill £200 more this quarter?
<Son> well the crusaders on OcUK forum said my humanity points would increase if I pledged my GPU cores to (X project) and we would be in a better place cos of it.
<dad> Son. I am selling your GPU.
<Son> but, but the 30 series was so hard to obtain...
<dad> blame your ruddy OcUK friends this has cost us a small fortune!

 

[K1LaW8tt5]

The same reason why I didn't pay in gold bars.

So a bitcoin is as awkward as dealing in gold bars?

 

[FoxEye]

The only time people gave a **** was this coronavirus! I was crunching grid projects around 2000 folding proteins etc. you had people wasting cycles looking for aliens. You think the regular gamer is going to put good use to GPU horsepower that costs them £2 a day to 'research' your having a laugh.

<dad> Son. Why is out electric bill £200 more this quarter?
<Son> well the crusaders on OcUK forum said my humanity points would increase if I pledged my GPU cores to (X project) and we would be in a better place cos of it.
<dad> Son. I am selling your GPU.
<Son> but, but the 30 series was so hard to obtain...
<dad> blame your ruddy OcUK friends this has cost us a small fortune!

Well there is an alternative. When you aren't using your PC turn it off...

I didn't do any folding@home as it seemed a bit naff tbh. But it was always niche and small-scale. Mining is on a whole different and far greater scale. And it's growing.

Should BTC ever reach $100k, along with the various altcoins, I dread to think what the combined energy cost of all the mining would be then.

One thing is certain. It isn't helping us reach our carbon neutral targets, spunking a load of energy on crypto.

 

[gpuerrilla]

Well there is an alternative. When you aren't using your PC turn it off...

I didn't do any folding@home as it seemed a bit naff tbh. But it was always niche and small-scale. Mining is on a whole different and far greater scale. And it's growing.

Should BTC ever reach $100k, along with the various altcoins, I dread to think what the combined energy cost of all the mining would be then.

One thing is certain. It isn't helping us reach our carbon neutral targets, spunking a load of energy on crypto.

You shouldn't be imposing what people do on their machines its a strange view you have?

In the past couple of months - why would sane people turn off their 30 series cards when you can mine overnight and make some pocket money?

If BTC ever hits £80k or whatever figure you suggest then its even more apparent the point earlier is done to maximise the opportunity. The chance to earn some money before governments tax the **** out of it and the whales control it all is here and now. In five years time you will have missed the boat and the rich will get back to owning all the assets like in FIAT currently.

 

[FoxEye]

I'm not sure how you read my post as a command. "Well there is an alternative..." is what I said. Odd that you interpreted that as a command.

I was merely pointing out that it's not a choice between crypto and folding@home. You don't need to do anything with it when you're not there. You *could* turn it off

 

[gpuerrilla]

I'm not sure how you read my post as a command. "Well there is an alternative..." is what I said. Odd that you interpreted that as a command.

I was merely pointing out that it's not a choice between crypto and folding@home. You don't need to do anything with it when you're not there. You *could* turn it off

I never said the word command..

The thread is based on people using the current circumstances of high value to capitalise on it with their enthusiast hardware. It your choice, do it or 'turn it off' instead.

The derailment is from greta types portraying it as an end of the world green issue when its clearly not.

 

[Psycho Sonny]

So a bitcoin is as awkward as dealing in gold bars?

It's as awkward as dealing with dumb questions on ocuk.

There are people that take bitcoin as per house purchases fyi but it's not a commonly used enough method of payment yet.

The same way some also accept gold bars but again not commonly used.

If bitcoin hits £100k you would be dumb not to get in on the mining now. Also you do realise that the number of coins newly minted decreases over time?

So let's say currently 20 coins are given out per block and in 10 years time 1 coin is given out per block. Then eventually zero coins are given out just the transaction fees so you don't have any coins being minted at all.

People will eventually stop mining as much. There is an equilibrium effect. The number of coins being minted is lessening with time to the point that less miners will be mining them. Unless the value increases but then coins lessen to equal that out.

Basically it's not infinite power usage. There is a limit controlled by the minting process.

 

[K1LaW8tt5]

If bitcoin hits £100k you would be dumb not to get in on the mining now.

So if something is speculated to be worth more in the future you would be dumb not to start now.

 

[gpuerrilla]

Considering most of them have already been mined its a bit late to say its a waste of time/energy!:

 

[Psycho Sonny]

So if something is speculated to be worth more in the future you would be dumb not to start now.

It will happen. It's not a matter of if just when. It's happened time and time again.

It goes up breaks a record. Then crashes.

Then a few months later beats it again. Then again. Then it eventually sizzles out and goes under the radar for a few years and then makes another come back.

Nobody has talked about mining for 2 years then all of a sudden it breaks a record and people on here are crying about gpu pricing.

I'll tell you right now current prices have nothing to do with a mining boom. It's to do with a global shortage.

You know those things called consoles that sold out before Christmas and never came back into stock again even though months have passed.

They also use GPU and they can't get any to make more consoles.

Limited supplies.

 

[Psycho Sonny]

Considering most of them have already been mined its a bit late to say its a waste of time/energy!:

Already said that above.

You won't just have mining going up and up and up because there is a fine amount.

Once they are all mined and as the numbers available decrease so will miners.

There will still be miners just a lot less with time. Unless of course it goes up rapidly and keeps going up in value then miners increase.

It's why I stopped years back. Became unprofitable and I sold up all my parts. I don't want to go back into it again but potentially I am missing out on more.

 

[gpuerrilla]

It will happen. It's not a matter of if just when. It's happened time and time again.
..
Nobody has talked about mining for 2 years then all of a sudden it breaks a record and people on here are crying about gpu pricing.

I posted this too, since 2012 'miners' or GPU enthusiasts that were aware of this have been buying mid-high end hardware for eight years now knowing this and are happy to play along when the time is right. If your only just tuning into the scheme of things you have been out of the loop for a considerable amount of time. GPU mining is old, its only affected the past couple of gen's as the masses realise the tool that's needed to do the job. Most countries with super cheap electric rates flock to it.

 

[K1LaW8tt5]

It will happen. It's not a matter of if just when. It's happened time and time again.

It goes up breaks a record. Then crashes.

Then a few months later beats it again. Then again. Then it eventually sizzles out and goes under the radar for a few years and then makes another come back.

Nobody has talked about mining for 2 years then all of a sudden it breaks a record and people on here are crying about gpu pricing.

I'll tell you right now current prices have nothing to do with a mining boom. It's to do with a global shortage.

You know those things called consoles that sold out before Christmas and never came back into stock again even though months have passed.

They also use GPU and they can't get any to make more consoles.

Limited supplies.

I don't remember bringing the crypto discussion to the GPU section to whine about anything.

The thread should be closed really it serves no purpose other than to get under the skin of people already annoyed with the current stock situation.

like bringing a 6pack to an AA meeting and wondering why people are not praising you for it.

 

[Poneros]

I had a go at mining with my 6900 XT today however I am unable to reduce the power the GPU is using to enable me top both game and mine at the same time. I can use the toggles on nicehash to set the power to low or medium but they don't actually take effect. So I guess it's all or nothing until they optimize the app for the 6900 XT...

Don't waste your time with nicehash. Read this:
https://www.overclockers.co.uk/forums/posts/34438226

For settings, just test how low you can pull the clocks down on the core max frequency, eg I go to about 1300. Either way make sure to manually set a fan speed (~50% is nice and quiet on reference) because otherwise the memory will overheat and you won't know it because we have no sensors for it & fans won't kick in as they should. You won't be able to both game & mine though, that would be unpleasant. Maybe some very light weight games or game streaming. But you can watch video & do work just fine otherwise.