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Ethereum GPU mining?

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ultimatebob said:
Are there any legitimate organizations out there who actually pay their workers in crypto? I figured that the recent price crash of Bitcoin would be enough to scare most places from doing that. That might have seemed like a good idea last November, but it is not looking so good now 🙂
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No, but I'm pretty sure more than one crypto start ups give coins to critical employees, very much like start up companies do partial ownership or stock options.
 
IntelUser2000 said:
I really doubt this. We often put the blame towards something that has little to do with it. If it was like a Bitcoin ASIC where it was 50 times faster, it would make sense, but I'd put my bets on people coming in late. The only thing the E3 will really do is help relieve pressure off the GPU market.
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Given the information out there that the E3 is conservatively 7-8 times faster than a 1080 GTX with the E3 only costing $800, I think we will see a huge drop in the pressure on GPU market (given that the price of a single 1080 is currently hovering around $600... Price/performance makes the 1080 need to be around $40-50 once you take into account the costs for the rest of the computer and power consumption to match the performance of the E3). And the current performance is expected to be higher when retail/production models are released.

I think this will finally get GPU prices back to MSRP levels.
 
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Fallen Kell said:
Given the information out there that the E3 is conservatively 7-8 times faster than a 1080 GTX and only costs $800,

I think this will finally get GPU prices back to MSRP levels.
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You are getting the wrong impression of the E3 because you are using possibly the worst GPU for Ethereum mining. For Nvidia, you are better off getting the GTX 1060(which performs about the same on Ethereum as the GTX 1080), but AMD GPUs are way better for their price.

You also need the power supply for the E3. Someone was saying you could probably get the E3 for $1200 after shipping and the power supply.

eBay is also showing listings for the E3. They are going for $1500+. Yea, right now with inflated prices the E3 is better. But its only about 2x. Some people will go for it regardless because its going to be the best per dollar. There are more stupid things you could have done like buying cryptos in december with your mortgage money.
 
IntelUser2000 said:
You are getting the wrong impression of the E3 because you are using possibly the worst GPU for Ethereum mining. For Nvidia, you are better off getting the GTX 1060(which performs about the same on Ethereum as the GTX 1080), but AMD GPUs are way better for their price.

You also need the power supply for the E3. Someone was saying you could probably get the E3 for $1200 after shipping and the power supply.

eBay is also showing listings for the E3. They are going for $1500+. Yea, right now with inflated prices the E3 is better. But its only about 2x. Some people will go for it regardless because its going to be the best per dollar. There are more stupid things you could have done like buying cryptos in december with your mortgage money.
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Good point on the Nvidia vs the AMD. The 3GB 1060's are still going for ~$280 which is still 40% higher than MSRP, with the 6GB editions also about 40% higher than MSRP). The fact still remains that the Nvidia cards will drop all the way back to their MSRP given price/performance of the E3 (even at $1500 for the E3, the Nvidia 1060 would need to be 1/3 to 1/4 their MSRP price to compete, let alone the inflated price). AMD cards might not drop right away, but they will still drop.
 
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Fallen Kell said:
Good point on the Nvidia vs the AMD. The 3GB 1060's are still going for ~$280 which is still 40% higher than MSRP, with the 6GB editions also about 40% higher than MSRP). The fact still remains that the Nvidia cards will drop all the way back to their MSRP given price/performance of the E3. AMD cards might not right away, but they will still drop.
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They'll drop simply because the profitability levels are low. It has happened before. Not right away, it takes some time, because it takes time to respond. The E3 will just accelerate it.

By the way for the 3GB 1060's, some Ethereum mining software drops it off from working altogether. Newegg.com is showing $230 for the cheapest 1060 and $260 for the rest. That's pretty close to what it was priced before the big rise late last year.
 
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ultimatebob said:
Are there any legitimate organizations out there who actually pay their workers in crypto? I figured that the recent price crash of Bitcoin would be enough to scare most places from doing that. That might have seemed like a good idea last November, but it is not looking so good now 🙂
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If tax regulations in the US were updated to treat cryptocurrency as actual currency rather than property where every single transaction is an income-taxable event, then I would gladly choose to have my salary paid in ether. But as things currently stand, getting paid purely in crypto would be a tax nightmare in much of the world, both for the employer and the employee.
 
What are your thoughts on a hard fork?

I supported one at first (mostly because I think Bitmain already has more powerful hardware they are using to mine for themselves), but I'm kinda in the full steam ahead on POS side now, or even a block reward reduction.
 
IntelUser2000 said:
They'll drop simply because the profitability levels are low. It has happened before. Not right away, it takes some time, because it takes time to respond. The E3 will just accelerate it.

By the way for the 3GB 1060's, some Ethereum mining software drops it off from working altogether. Newegg.com is showing $230 for the cheapest 1060 and $260 for the rest. That's pretty close to what it was priced before the big rise late last year.
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1060 3GBs aren't long for the ethereum world. claymore updated a week or so ago getting them back up to speed on windows 10, but afaik there's a hard date built into ethereum for 3GB cards to get cut off in november of this year anyway.

winter 2016-17 i think 3GB 1060s were down around $150 on sale, along with 4GB 470s.
 
thilanliyan said:
What are your thoughts on a hard fork?

I supported one at first (mostly because I think Bitmain already has more powerful hardware they are using to mine for themselves), but I'm kinda in the full steam ahead on POS side now, or even a block reward reduction.
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The sooner PoS goes live the better, but only when it is checked and tested and audited many times over. The idea of simply rushing it to live deployment without completing all auditing first as the primary backup plan in case of malicious actions related to ASICs or Bitmain seems incredibly reckless, IMO. I think that while we don't know enough to say that the ASICs are a significant threat in the interim before Casper launches, we also don't know enough to say they do not pose such a threat. The fact that Monero forking revealed 70%+ of their hashrate may have been due to hidden ASICs should be a stern warning to the Ethereum community. ASICs may account for the majority of hashpower added since early December, and could well hit 51% of the total before Casper is ready. While I don't think an immediate emergency hard fork is necessarily warranted, I do think it would be prudent for the Constantinople fork to be scheduled for as soon as is reasonable (in the next ~month or so) and include in it a small change to the hashing algorithm that is likely to break existing ASICs. Maybe include another issuance reduction at the same time as a mitigating factor just in case the change fails to kill off ASICs, but hopefully it would buy enough time either way to finish Casper properly and get it out before new ASICs can be made to overwhelm and centralize the network.
 
Feld said:
The sooner PoS goes live the better, but only when it is checked and tested and audited many times over. The idea of simply rushing it to live deployment without completing all auditing first as the primary backup plan in case of malicious actions related to ASICs or Bitmain seems incredibly reckless, IMO. I think that while we don't know enough to say that the ASICs are a significant threat in the interim before Casper launches, we also don't know enough to say they do not pose such a threat. The fact that Monero forking revealed 70%+ of their hashrate may have been due to hidden ASICs should be a stern warning to the Ethereum community. ASICs may account for the majority of hashpower added since early December, and could well hit 51% of the total before Casper is ready. While I don't think an immediate emergency hard fork is necessarily warranted, I do think it would be prudent for the Constantinople fork to be scheduled for as soon as is reasonable (in the next ~month or so) and include in it a small change to the hashing algorithm that is likely to break existing ASICs. Maybe include another issuance reduction at the same time as a mitigating factor just in case the change fails to kill off ASICs, but hopefully it would buy enough time either way to finish Casper properly and get it out before new ASICs can be made to overwhelm and centralize the network.
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Fully agree. I don't think they should rush Casper, but that statistic about the monero network was eye opening when I saw it on reddit. I really hope it isn't that pervasive in the eth ecosystem as we speak.
 
thilanliyan said:
Fully agree. I don't think they should rush Casper, but that statistic about the monero network was eye opening when I saw it on reddit. I really hope it isn't that pervasive in the eth ecosystem as we speak.
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The way the hashrate for ETH (https://etherscan.io/chart/hashrate) climbed steadily from the start of December to mid-February at a rate never seen before is suspicious, IMO. It jumped from 123 TH/s on Dec 5 to 243 TH/s on Feb 13. That's 1.7 TH/s added to the network every day. It's the equivalent of 57,000 GTX 1070's coming on line every single day for 70 days straight, at a time when GDDR and HBM shortages were restricting production and Nvidia was probably starting to ramp down production anyway to begin preparations for their next architecture and avoid having excess inventory of the old stuff during the post-holiday slow season, as they always do. I suspect Bitmain is responsible for a significant portion of that hashrate increase, and there's no way to know if they were bringing ASICs online even earlier than that at a slower rate, or if they have continued deploying them since mid-February but the difference has just been offset by GPU miners dropping out due to falling profitability. Just guesstimating, I think it's unlikely Bitmain has anything less than 25% of the Ethereum hashrate today and it's quite possibly near or greater than 50%.
 
I got paid helping someone set up their rig close to February. Even back then the whole crypto space was very heated up.

It can't be said in a definitive way that ASICs are the primary reason difficulty has increased back in January timeframe. Especially when the so-called ASICs are very underwhelming in performance, price, and power consumption. The Monero ASIC doesn't count because the Antminer X3(the ASIC for Monero) does 100 times better in performance.

Time delays always exist. Shortly after the peak profitability is over, there would have been massive amounts of people that would have bought rigs. Was it not the best choice for people to buy rigs back in the December/January timeframe? Yes. In my opinion, the time to buy rigs for mining ended back in fall of last year. Most people, no, vast majority of people suck in investments. People suck so badly in investing and trades that they start believing manipulation in the market as the reason why market crashes and bubbles happen.

Panic and emotions rule us, especially in investing. Experience, and that's usually by losing money, allows us to do it better in the future.

That's ok. Because most average folks don't have time and the patience to do proper investing. That's also why only a relative few gain nicely from their investments. Crypto space is no different.
 
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The issue with being paid in crypto is that you end up having to convert it to dollars so you can pay your bills, and that's a taxable event as far as I know. You'll get taxed twice, when you get paid (income tax), and when you convert it. I guess they could allow you to choose what percentage of your pay is in crypto, so like 80% cash, 20% crypto, or something.
 
Anyone heard of "ETHlargement - The Hashrate Hardener"?

Run it and it alters the g5x memory timing without having to touch the bios.

I thought it was a joke but I'm getting a stable 51 mh/s on my Gigabyte Gaming 1080 Ti. I still have to see how many watts I am using.

Tonight I will try my Evga 1080 SC to see if it makes a difference.
 
Red Squirrel said:
Well that sucks. I used it months back, should I be worried that my info got compromised?
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You're fine. To be clear, it only lasted a couple of hours and things are back to normal now. It wasn't MEW that got hacked (though even if they had been, you wouldn't have an issue unless you used it during that 2 hour window) and there's nothing MEW could have done to prevent this. For details, look here:
https://www.reddit.com/r/ethtrader/comments/8enz0g/how_the_myetherwallet_hack_happened/
 
hoog23 said:
Anyone heard of "ETHlargement - The Hashrate Hardener"?

Run it and it alters the g5x memory timing without having to touch the bios.

I thought it was a joke but I'm getting a stable 51 mh/s on my Gigabyte Gaming 1080 Ti. I still have to see how many watts I am using.

Tonight I will try my Evga 1080 SC to see if it makes a difference.
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Reports are that it makes your reported hashrate go up with a 1080TI, but you don't actually get any more shares. There would be more shares if it actually worked. So either it does nothing, or the extra shares are being siphoned off to someone else's address. If something looks too good to be true, it probably is. This is black box code with no discernable upside that may be full of keyloggers or worse for all anyone knows.
 
Using 16.12.2 AMD drivers, latest drivers or even the 15.12 drivers, my Fury X only gets about 19 Mh/s when it should be around 28Mh/s. Any ideas what the issue might be here for the low hashrate?
 
wege12 said:
Using 16.12.2 AMD drivers, latest drivers or even the 15.12 drivers, my Fury X only gets about 19 Mh/s when it should be around 28Mh/s. Any ideas what the issue might be here for the low hashrate?
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blockchain drivers give me 31mh/s with stock fury x with claymore 11.5
 
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