LHR fully 100% unlocked now - expect GPU prices to rise

[gpuerrilla]

I personally dont feel its worth it when mining a 3090 is £3 a day profit at the moment, it might be to others but not for me.

It was great earlier in the year when it was hitting £15-20 a day and i was well on board with running my pc 24 hours to get the benefit off that.

Each to their own though.

£15-20 a day to £3? Some information is not the same for the comparison, like you were leaving it mining 24/7 and are now only mining on it for 12 hours. A single 3090 is ~ £5.50 right now (thats me on 18p a unit).

 

[Metalface Mark]

£15-20 a day to £3? Some information is not the same for the comparison, like you were leaving it mining 24/7 and are now only mining on it for 12 hours. A single 3090 is ~ £5.50 right now (thats me on 18p a unit).

I was going by the £3 a day suggested earlier in the thread, i stopped mining when it dropped below a fiver for 24 hours last month on my 3090.

Running 24 hours was what i was basing it on, i did briefly turn on for a few hours last week but 24hour average was only showing about a fiver without taking into account the electricity.

 

[Poneros]

At what cost to the planet and everything else, tho?

All the extra cards that have to be made. The minerals that have to be mined. The plastic used. All the extra power that must be generated to solve arbitrary math problems. At precisely the time we're supposed to be cutting emissions and all that jazz.

Crypto mining certainly won't help our efforts to be greener, no matter how you look at it.

The planet will be fine, and all those materials are there to be used - humanity survives only as it pushes technology further, and yes that does include all kinds of seemingly arbitrary things. More importantly crypto is freedom, so if I were to balance "greenness" vs freedom I'd still choose crypto. Plus all this green talk is just so much propaganda, if anyone really cared we'd see a push for nuclear and not all these solar/wind nonsense which are many times more deleterious to the planet and much less green. There's absolutely no reason why we can't have cheap & plentiful electricity with currently available technology, and funnily enough it is exactly individuals and organisations who proclaim to be the most concerned with greenness that push the hardest against nuclear.

Personally I just don't think anyone cares, least of all the ones who shout the loudest about how much they do care about the planet and UR-mother, the "environmentally conscious" and all this other B.S. Their actions say something different than their words and to me the okie-doke is very obvious.

 

[gpuerrilla]

..and funnily enough it is exactly individuals and organisations who proclaim to be the most concerned with greenness that push the hardest against nuclear.

Personally I just don't think anyone cares, least of all the ones who shout the loudest about how much they do care about the planet and UR-mother, the "environmentally conscious" and all this other B.S. Their actions say something different than their words and to me the okie-doke is very obvious.

Correct. You may also notice some still drive around in high power petrol vehicles (where walking/cycling is probably doable) and throw away stuff into the wheelie bin (even though you can use the recycling centre) for example but are happy to point the finger leading their double standard lives!

 

[FoxEye]

The planet will be fine, and all those materials are there to be used - humanity survives only as it pushes technology further, and yes that does include all kinds of seemingly arbitrary things. More importantly crypto is freedom, so if I were to balance "greenness" vs freedom I'd still choose crypto. Plus all this green talk is just so much propaganda, if anyone really cared we'd see a push for nuclear and not all these solar/wind nonsense which are many times more deleterious to the planet and much less green. There's absolutely no reason why we can't have cheap & plentiful electricity with currently available technology, and funnily enough it is exactly individuals and organisations who proclaim to be the most concerned with greenness that push the hardest against nuclear.

Personally I just don't think anyone cares, least of all the ones who shout the loudest about how much they do care about the planet and UR-mother, the "environmentally conscious" and all this other B.S. Their actions say something different than their words and to me the okie-doke is very obvious.

I'm not a saint (I drive, I eat meat), but I do care enough not to burn energy and other resources in the pursuit of a ponzi scheme that produces (and has produced to date) absolutely nothing of any real value.

It's fine tho, you've stated you don't care a jot about the planet/environment, so we move on. When you say, "The planet will be fine", well it will certainly still be here, orbiting the sun, for sure. But it won't be a place you'd want to live. And we'll have wiped out just about every other form of life we share this planet with. But again, as you say, nobody cares, right? So you might as well burn all the energy you can get your hands on for that $5 a day return. To me it's utter madness.

 

[FoxEye]

Correct. You may also notice some still drive around in high power petrol vehicles (where walking/cycling is probably doable) and throw away stuff into the wheelie bin (even though you can use the recycling centre) for example but are happy to point the finger leading their double standard lives!

You people can't honestly be this dense.

"People who talk about green issues and caring for the environment also drive around in gas guzzlers. Hypocrites! Why should we listen to them?"

I mean seriously is that the level of argument and reasoning you want to associated with?

 

[Poneros]

I'm not a saint (I drive, I eat meat), but I do care enough not to burn energy and other resources in the pursuit of a ponzi scheme that produces (and has produced to date) absolutely nothing of any real value.

That is your opinion, but the fact is that the crypto market cap is over $1 TRILLION and growing. Until you face that reality head on instead of calling it a Ponzi scheme you will not understand what's happening and why.

It's fine tho, you've stated you don't care a jot about the planet/environment, so we move on.

Absolutely not what I said at all. You can't divorce it from its context, when I'm talking about people in general vs you making it about me the individual. There's much more to the story but you need to posses a willingness to understand.

When you say, "The planet will be fine", well it will certainly still be here, orbiting the sun, for sure. But it won't be a place you'd want to live. And we'll have wiped out just about every other form of life we share this planet with. But again, as you say, nobody cares, right? So you might as well burn all the energy you can get your hands on for that $5 a day return. To me it's utter madness.

Even the more pessimistic IPCC estimates don't predict a future as grim as that. Indeed if we look at SSP2-4.5 which seems the more likely scenario we can expect the following apocalyptic pronouncements:

At 2°C of warming by 2080–99, Hsiang et al. (2017) project that the United States would suffer annual losses equivalent to about 0.5 percent of GDP in the years 2080–99 (the solid line in figure 1). By contrast, if the global temperature increase were as large as 4°C, annual losses would be around 2.0 percent of GDP.

Truly the end times!

https://www.brookings.edu/research/...onomics-of-climate-change-and-climate-policy/
https://www.ipcc.ch/report/ar6/wg1/#SPM

 

[shamus21]

It looks like the whales in the Bitcoin trading game are trying to manipulate price in the hope they can hit their £/$ 100,000 objective by year end.

 

[gpuerrilla]

You people can't honestly be this dense. "People who talk about green issues and caring for the environment also drive around in gas guzzlers. Hypocrites! Why should we listen to them?"

I mean seriously is that the level of argument and reasoning you want to associated with?

That is your opinion, but the fact is that the crypto market cap is over $1 TRILLION and growing. Until you face that reality head on instead of calling it a Ponzi scheme you will not understand what's happening and why.
...
Absolutely not what I said at all. You can't divorce it from its context, when I'm talking about people in general vs you making it about me the individual. There's much more to the story but you need to posses a willingness to understand.

Drop mic moment. Been here before @Poneros he said the same nit-picking my posts, complete waste of time. People who think they are good debaters would do better when it comes to listening to key point instead of sticking fingers in the ears and talking over you. It comes across as childish or you cant concede reality so choose to ignore it which is equally as bad.

 

[andybird123]

I'm not a saint (I drive, I eat meat), but I do care enough not to burn energy and other resources in the pursuit of a ponzi scheme that produces (and has produced to date) absolutely nothing of any real value.

It's fine tho, you've stated you don't care a jot about the planet/environment, so we move on. When you say, "The planet will be fine", well it will certainly still be here, orbiting the sun, for sure. But it won't be a place you'd want to live. And we'll have wiped out just about every other form of life we share this planet with. But again, as you say, nobody cares, right? So you might as well burn all the energy you can get your hands on for that $5 a day return. To me it's utter madness.

In this thread there are people who pay more for their electric than I do, I mine, we are in the house 24/7 with the heating on, computers, laptops, TV etc., But when we buy stuff we buy energy efficient stuff, so my net result is that I use no more electric than other people in this thread who are allegedly "very careful" about what they use, but I'm also generating thousands of pounds in profit, using no more electric than other households (my mining rig also heats my workspace which would otherwise be heated by electric anyway).
My profit from mining this year will pay for solar panels on our house in vietnam where my heating bills will be 0 and 80-90% of our electric will be self generated. But sure, miners are all evil and not the people buying the cheapest appliances using more electric.

 

[Psycho Sonny]

In this thread there are people who pay more for their electric than I do, I mine, we are in the house 24/7 with the heating on, computers, laptops, TV etc., But when we buy stuff we buy energy efficient stuff, so my net result is that I use no more electric than other people in this thread who are allegedly "very careful" about what they use, but I'm also generating thousands of pounds in profit, using no more electric than other households (my mining rig also heats my workspace which would otherwise be heated by electric anyway).
My profit from mining this year will pay for solar panels on our house in vietnam where my heating bills will be 0 and 80-90% of our electric will be self generated. But sure, miners are all evil and not the people buying the cheapest appliances using more electric.

Isn't crypto banned in Vietnam?

 

[andybird123]

Isn't crypto banned in Vietnam?

It's banned as a method of payment, but trading in it and mining are not

 

[Psycho Sonny]

It's banned as a method of payment, but trading in it and mining are not

Okay. I had heard they banned it because the government kept on printing money and people decided to buy bitcoin to stop their money from essentially being stolen by the government indirectly printing more.

Similar to what is happening in the UK and US. Printing money at unprecedented levels. I'm surprised more aren't for crypto with the incoming inflation which we have only just seen the tip of currently.

I don't see mining as long term. I do believe that energy concerns will pressure it all to adapt and go POS or some other non POW method in future.

Ethereum 2.0 will be the beginning of the end of mining at such large scales. Bitcoin will be the only big player then in terms of mining and that is essentially the king of crypto but I don't believe it's completely infallible.

Has things calmed down with your local currency or is it essentially worthless now?

 

[andybird123]

Okay. I had heard they banned it because the government kept on printing money and people decided to buy bitcoin to stop their money from essentially being stolen by the government indirectly printing more.

Similar to what is happening in the UK and US. Printing money at unprecedented levels. I'm surprised more aren't for crypto with the incoming inflation which we have only just seen the tip of currently.

I don't see mining as long term. I do believe that energy concerns will pressure it all to adapt and go POS or some other non POW method in future.

Ethereum 2.0 will be the beginning of the end of mining at such large scales. Bitcoin will be the only big player then in terms of mining and that is essentially the king of crypto but I don't believe it's completely infallible.

Has things calmed down with your local currency or is it essentially worthless now?

My local currency is GBP, we're not moving until we can either get the kids vaccinated or we know there's a decent treatment option available, but VND is pretty stable within a range every 6-12 months so we use that to our advantage as well sometimes

 

[Sarge2255]

Isn't crypto banned in Vietnam?

It's banned in China.

 

[Psycho Sonny]

It's banned in China.

I'm well aware of that. His post however mentioned Vietnam

 

[FoxEye]

That is your opinion, but the fact is that the crypto market cap is over $1 TRILLION and growing. Until you face that reality head on instead of calling it a Ponzi scheme you will not understand what's happening and why.

Yes Ponzi schemes do in fact increase in value, until they don't. Tulips got really expensive, until they weren't.

Tether, USDC, etc, are propping up Cypto prices by literally minting tokens out of thin air, backed by who knows what (and possibly nothing at all). Printing $billions of these tokens and using them to buy crypto to inflate the crypto prices, haha, it's a massive scam and can't last forever.

The irony being that Tether et al are doing what crypto-bros berate the Fed and other govts and central banks for doing - printing money out of thin air. THat's exactly what Tether and co are doing for yonks.

Absolutely not what I said at all. You can't divorce it from its context, when I'm talking about people in general vs you making it about me the individual. There's much more to the story but you need to posses a willingness to understand.

Gambling is pretty well understood. As are Ponzi schemes. Neither are particularly good for anyone. Also it's well understood that burning energy and consuming resources for no benefit to anyone except gamblers, is not a useful way to use finite resources, esp when we're supposed to be conscious of our enivoronmental impact.

Look now at all the nonsense "crypto will drive adoption of green energy". Look now at the fossil fuel power plants in the US, that were once mothballed, now being brought back online to power massive crypto farms.

Wow, what green credentials. Nope, crypto isn't green at all. Crypto wants cheap energy, and plentiful energy, and if that means recommissioning fossil fuel plants, then that's what will happen.

Even the more pessimistic IPCC estimates don't predict a future as grim as that. Indeed if we look at SSP2-4.5 which seems the more likely scenario we can expect the following apocalyptic pronouncements:

Truly the end times!

https://www.brookings.edu/research/...onomics-of-climate-change-and-climate-policy/
https://www.ipcc.ch/report/ar6/wg1/#SPM

I don't measure solely in GDP, which is a typically human-centric measurement. Destruction of the planet's ecosystems is a lot worse than a 2% drop in GDP.

 

[FoxEye]

Drop mic moment. Been here before @Poneros he said the same nit-picking my posts, complete waste of time. People who think they are good debaters would do better when it comes to listening to key point instead of sticking fingers in the ears and talking over you. It comes across as childish or you cant concede reality so choose to ignore it which is equally as bad.

You do realise that "few understand" is a meme, at this point? There's very little to understand. Crypto is a giant casino, and everyone is gambling on "number go up", which it does or it doesn't, dependent purely on hype and how many $billions Tether prints that week (out of thin air).

It's also a completely unregulated casino, where people can (and do) lose everything on a daily basis. Oh and it requires as many resources as you can dedicate to it, and always wants more.

"Few understand." Hah!

Anyway the regulation and the shut-downs are coming, as are the daily exit scams, thefts and other crypto-related hacks and scams. It's a space for gamblers and those who like an incredible risky, environmentally bankrupt system because they think they can get rich from it.

 

[shamus21]

Crypto is here to stay it just needs global regulation.

 

[Hedge]

I use my PC for more than just gaming, My PC is also part of my work, This magical £3 is not once per day, It is once per full 24 hours of mining, I do not keep any electronics on at all at night so at most I could "mine" maybe 1-2 hours per day so to get that full magical £3 payout it would take me nearly 2 weeks, Ergo, Not worth it and a far cry from £1100 per year.

I mined on nicehash for one month about two years ago. Forgot about it. Went back to a wallet that had over a grand in it. That then became closer to two grand.

It's not always as simple as just 3 quid a day.