Ethereum GPU mining?

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May 24, 2003
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Well the time has come, might retire my mining rig which is mining with two GTX 1070 TIs. Still debating on if to do it or not but my hydro bill (equal billing) shot up from $140/mo to $280/mo. I think the real cause of that is A/C usage because it's been a hot summer and not actually mining but mining is still contributing to some degree with power usage as it's constant. Either way I need to greatly conserve power so I can try to bring my equal billing plan down again. I mined around 2.4eth so far since I started which is worth around $679.72 as I type this. Decent cash but does not even cover the cost of one of my GPUs that I bought. So think I'll cut my losses while I'm ahead.

The tax implications for crypto here in Canada are also super complicated so I don't even know what to do with it. Right now it's "technically" not in my name, but I'm sure the wallet address can be traced to my IP, so I guess it is in my name but if I start transferring it around such as moving it to an exchange and cashing in that's where things get very complicated. I'm not sure how closely the CRA looks at crypto at this point but the more I make the more I might show up on the radar. Pretty much would need a CPA to figure out the tax stuff if I wanted to stay in. Even my regular tax accountant does not know about the crypto rules as they are so niche and separate from typical customer base.

For the time being I'm still mining but think starting tomorrow once hydro is back to peak hour rates I'll turn it off. Was a fun run. This will liberate the hardware too which is new decent hardware so I might make another VM server with it or something. Just need to add more ram. Can also do an ethereum node. If I go that route would it be viable to use spinner disks in raid 5 or 0? I don't really want to use SSDs given how fast they wear out and the cost per TB. I'd have to check how many sata ports the motherboard has, but I'd get that many drives, maybe 2-3TB ones. How big is the chain now days a couple TB or is it much larger?

I'll probably end up just making it a VM server though. I want to experiment with Proxmox so it will be good hardware to do it with.
 
Apr 27, 2000
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@Red Squirrel

Probably not a bad time to drop out of the mining game. Sorry you didn't get more out of it. You could try running something closer to what @VirtualLarry does but again, tax implications. I won't comment on the CRA since I do not know their specific rules.

I do know that if you mine to a wallet and let it sit ad nauseam, nobody really much cares since you aren't spending it anyway.
 
May 24, 2003
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Yeah I got in late anyway so was not expecting to strike it rich. The only real loss is 1GPU, because I only have 2 GPUs mining, and the other is basically just going to be a gaming upgrade. And the whole system can just be repurposed.

I do need to learn metal fab though, the case is built out of wood and motherboard is just sitting loosely on standoffs so don't really want to use that for a production server haha. But probably leave it as is for now. I got 6U of front space to play with, could make a nice storage pod if I find some SAS expander cards for cheap. Might need to learn how to use a tap and die and I can at very least line it with metal and have some proper holes for motherboard standoffs.
 
Oct 14, 2003
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I mined around 2.4eth so far since I started which is worth around $679.72 as I type this.

The tax implications for crypto here in Canada are also super complicated so I don't even know what to do with it.
Simple. Add $679.72 as capital gains. You'll be taxed as if you earned half that. It's same as with stocks.

Actually its capital gains = total - recurring costs.

Recurring costs. The space the rig takes up relative to the cost of your house, the power bill(the portion that your rig took not the whole thing), the depreciation rate of all the hardware involved. There's a formula for depreciation of computer hardware at the CRA site.

If you trade later and you lose a bit, you can also use that as a deduction against your earnings. If you mined for over a year, make sure you fill out every year so your deductions are done properly. Forgetting a year is unnecessarily losing out on the possible deductions.

Can also do an ethereum node. If I go that route would it be viable to use spinner disks in raid 5 or 0? I don't really want to use SSDs given how fast they wear out and the cost per TB. I'd have to check how many sata ports the motherboard has, but I'd get that many drives, maybe 2-3TB ones. How big is the chain now days a couple TB or is it much larger?
Node sync is related to small file performance so no HDDs will work. Granted HDDs are so slow at that RAID will actually improve performance in that regard but it won't be enough.

Full Sync is all you need. Probably need 200-300GB.

The worry about durability is why I thought of getting the 480GB 900P Optane SSDs once PoS is out, so I can count as an investment.
 
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Apr 27, 2000
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HDDs can work if you have a large enough RAM cache. At least geth lets you do that. You need an enormous cache though . . .
 
Oct 14, 2003
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HDDs can work if you have a large enough RAM cache. At least geth lets you do that. You need an enormous cache though . . .
Yea, based on my experience it should be in the 64GB or more. The Optane SSDs start making sense just on price.

The super fast low random performance means it should sync blisteringly fast too.
 
Jun 21, 2005
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An update to Geth may help with syncing:
https://medium.com/blockchain-studio/ethereum-client-geth-v1-9-0-released-whats-new-2b3de043ee16

"Before detailing what Freezer do, let’s see what the whole storage is made of. Basically, blocks. The question now is does my node need all the blocks ? Yes, but no. It needs them but with different usage over time. The last blocks are important and will be accessed way more often than last month blocks. And that’s where Freezer comes in place. Now geth will separate those two types of blocks and moves those old ones into another folder. You can configure the path of this folder, and for example let’s say put it on a HDD.

That way you can use a cheap and small SSD to sync and use a big and cheap HDD to store the data."

Good idea. Might have to give that a try...Optane for the new blocks and HDD for the old blocks maybe?
 
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Jun 21, 2005
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Yea, based on my experience it should be in the 64GB or more. The Optane SSDs start making sense just on price.

The super fast low random performance means it should sync blisteringly fast too.
Have you tried running a geth node with Optane cache? Which model did you use and which flags do you use to tell geth to use the Optane "cache" (or was it seamless for Geth)?
 
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Apr 27, 2000
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Yea, based on my experience it should be in the 64GB or more. The Optane SSDs start making sense just on price.
Never said it was overly practical. Used to be I could cut geth traffic to my SSD pretty significantly with a 10 GB cache (actually took up 12GB or so from memory). 64GB might not be necessary, I would want at least 16-20 GB though. Getting a system with 64GB is actually getting pretty cheap too, so that nets you a lot of options.
 
Oct 14, 2003
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Have you tried running a geth node with Optane cache? Which model did you use and which flags do you use to tell geth to use the Optane "cache" (or was it seamless for Geth)?
No the Optane application does it by itself. It's the one in the sig. I tried parity too. You can find my posts in this thread. It was several months back.

64GB might not be necessary, I would want at least 16-20 GB though. Getting a system with 64GB is actually getting pretty cheap too, so that nets you a lot of options.
I know this based on when the slowdown happened, and that's when it moved from Optane and started running on the HDD. Still had quite a bit to go.

I wouldn't do it with the cache models because the rated lifespan is quite low compared to the full-blown 900P/905P SSDs.
 
Jun 21, 2005
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No the Optane application does it by itself. It's the one in the sig. I tried parity too. You can find my posts in this thread. It was several months back.

I wouldn't do it with the cache models because the rated lifespan is quite low compared to the full-blown 900P/905P SSDs.
I read somewhere that you can use the 900P as a cache drive as well, so maybe the amount of writes won't be an issue.

Anyway, would be a nice solution but I think getting a 900p just to try and run an eth node is not worth it at this point. I'll see how the 2 nodes I have currently fare for now.
 
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Oct 14, 2003
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I read somewhere that you can use the 900P as a cache drive as well, so maybe the amount of writes won't be an issue.
The issue with using the Optane application for the 900P is that there's no way to set a specific portion, so the entire drive gets allocated. Of course for the 900P the support is not official even though it works.

With the Freezer function mentioned above though, you could just do it yourself manually.

I would probably get a dedicated node for it, like a low power Pentium Silver one along with the 900P SSD.
 
Jun 21, 2005
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The issue with using the Optane application for the 900P is that there's no way to set a specific portion, so the entire drive gets allocated. Of course for the 900P the support is not official even though it works.

With the Freezer function mentioned above though, you could just do it yourself manually.
In my case that's what I would do, allocate the whole drive (280GB version) as cache in front of a 4TB(?) HDD. I think using the Freezer function may not be good in this case because at some point the "new" blocks will outgrow the size of the SSD.

Having said that I'm not willing to shell out the $350CAD for a 900p drive at this point though lol. I've already shelled out about $650 total for the other 2 nodes.
 
Oct 14, 2003
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Having said that I'm not willing to shell out the $350CAD for a 900p drive at this point though lol. I've already shelled out about $650 total for the other 2 nodes.
Hence, PoS staking would make sense. It should be sometime in 2023 when its ready so we have plenty of time.
 

Shmee

Memory and Storage, Graphics Cards
Super Moderator
Sep 13, 2008
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Anyone know of any updates to miners for the RDNA cards?
 
Jun 21, 2005
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So syncing with parity used about 7TB of host writes on my Crucial MX500 1TB SATA SSD with 5GB of cache dedicated to the program and the "db-compaction ssd" flag. Took about 5 days to fully sync. Seems to add about 100GB of writes per day and chain data size is ~200GB.

Meanwhile my NanoPC-T4 node with an Adata NVME 512gb drive has yet to fully sync parity after about 2 weeks. Seems to get stuck every once in a while, and I think the slow CPU may be affecting results too.
 
Dec 31, 2009
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Its clear that ppl behind ETH don`t care for decentralization, they never have
Their nodes are designed only by run by corporations

Just look at BTC recovery and ETH doom, even congress man called all altcoin and eth how? :D
 
Oct 14, 2003
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Its clear that ppl behind ETH don`t care for decentralization, they never have
Their nodes are designed only by run by corporations
So other nodes by different cryptos which I'm assuming you are promoting(by insulting anything that has to do with eth) are run by what? The chips in Terminators?
 
Apr 27, 2000
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Its clear that ppl behind ETH don`t care for decentralization, they never have
Their nodes are designed only by run by corporations
That's absolute nonsense.

https://www.ebay.com/itm/HP-Z420-Wo...988661?hash=item23c35515f5:g:jmoAAOSwok1dRHTA

For $180 + shipping and a power cord you have a 64 GB machine. Install a platter-based HDD and you can run geth or Parity under a light Linux flavor and use a ~56GB cache for syncing. No muss, no fuss. Major corporation my buttocks.
 
Jun 21, 2005
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Its clear that ppl behind ETH don`t care for decentralization, they never have
Their nodes are designed only by run by corporations
You can easily set up a node for ~$250-300, as I have done twice now. And I'm certainly no "corporation".

If you mean mining, then yes PoW tends to go towards corporations, but that's true for most relevant cryptos.
 


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