[kwlug-disc] Another Humble Bundle: Cryptocurrency

[Ron Singh]

Quite true on all counts, not too much recycling of the GPUs really, more
of replacing the mobos and PSUs. Their electrical rates in central China
are astonishingly low.

Thanks,

Ron Singh
"in transit, via mobile comm device"

On Tue, Oct 10, 2017 at 3:47 PM, Khalid Baheyeldin <kb at 2bits.com> wrote:

> Even for your friend in Calgary, the future does not bode well.
>
> It is not only the price of hydro.
>
> The issue is that bitcoin mining has become an arms race scenario.
>
> It used to be doable on a normal PC. Then the custom rigs started to
> appear. And rigs from this year outpace rigs from last year in power,
> rending the older designs useless.
>
> There was an article explaining how warehouses in China were setup
> as mining shops, and they cycle their hardware every year to stay
> competitive and beat others in verifying transactions and earning
> the commission for it.
>
>
> On 10/10/17, Ron Singh <ronsingh149 at gmail.com> wrote:
> > I have a friend in Calgary(flat rate of sub.$05/kwh) making $240 with 5
> of
> > the RX580 video cards. He is happy  with the warming of his house due to
> > the 780w draw of his rig. Mind you, he had 2800 tied up in hardware for
> his
> > rig. It will take him about a year to recoup his capital costs and
> perhaps
> > even more time if anything dies right after the 1 year warranty is over
> on
> > his vid cards. I check my figures for 120v juice and I came up with an
> > average of 17.7 cents/kwh over a 24 hour period in Waterloo with TOU and
> > Hydro One's "Global Adjustment" extortion factored in.
> >
> > I just don't see any payback doing mining in Ontario, especially with the
> > proof of work demanding more gpu cycles as time goes on.
> >
> > A mining farm in Alberta would be the ticket
> >
> > Thanks,
> >
> > Ron Singh
> > "in transit, via mobile comm device"
> >
> > On Tue, Oct 10, 2017 at 3:19 PM, CrankyOldBugger
> > <crankyoldbugger at gmail.com>
> > wrote:
> >
> >> While I'm very curious about bitcoin and related ecurrencies, I have to
> >> ask... is anyone here making any money off of this?
> >>
> >>
> >> On Tue, 10 Oct 2017 at 14:23 bob+kwlug at softscape.ca <
> >> bob+kwlug at softscape.ca> wrote:
> >>
> >>> I am not affiliated and saddened that simply buying the books does not
> >>> load them into my brain, but if anyone is interested:
> >>>
> >>> https://www.humblebundle.com/books/bitcoin-cryptocurrency-books
> >>>
> >>>
> >>> Bob.
> >>>
> >>>
> >>>
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> >>
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> >>
> >
>
>
> --
> Khalid M. Baheyeldin
> 2bits.com, Inc.
> http://2bits.com
> Drupal optimization, development, customization and consulting.
> Simplicity is prerequisite for reliability. --  Edsger W.Dijkstra
> Simplicity is the ultimate sophistication. --   Leonardo da Vinci
>
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