[kwlug-disc] Another Humble Bundle: Cryptocurrency

[Ron Singh]

Actually, thanks for the clarification, yes, BT is pretty much a lost
cause, but I was really talking about crypto-currencies generally. The
sweet spot is Eth and Monero right now, subject to change by mid-2018
likely.

Thanks,

Ron Singh
"in transit, via mobile comm device"

On Tue, Oct 10, 2017 at 3:50 PM, Andrew Stevanus (KWLUG) <
andrew+kwlug at hoot.tech> wrote:

> Slight correction: bitcoin mining is no longer really profitable. It
> hasn't been profitable to mine bitcoin on CPUs or GPUs for several years
> now. You have to buy ASICs, and even then, the profit margins are
> absolutely tiny. People who are making money mining on GPUs are mining
> other cryptocurrencies like Ethereum (Ethash PoW) or Monero (CryptoNight
> PoW). Bitcoin uses double SHA256, which is a very fast hashing algorithm
> and isn't memory-hard, and it's easy to implement in hardware, so this
> was basically inevitable.
>
> CrankyOldBugger:
> > I saw a similar argument regarding solar panels from a guy in Alberta who
> > stated "if I lived in Ontario, these panels would have paid for
> themselves
> > by now".
> >
> > So what I understand from you, Ron, is that bitcoin mining is profitable
> if
> > you don't have to pay Ontario electricity rates..
> >
> >
> >
> > On Tue, 10 Oct 2017 at 15:41 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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