Ethereum GPU mining?

[aleader]

Or can deposit in a bank.

Would you suggest though a completely new bank and/or bank account to do this, or is it pretty safe to put it into my main (and only) account? I do pretty much all of my banking online (have for probably 15 years now) and am leery allowing access even to my PC (i.e. Nicehash Windows Defender exception). I suppose I could just keep it in a wallet and figure that out later?

 

[LightningZ71]

Given the level of insecurity that is surrounding coin mining and online wallets, and the level of attention the whole ecosystem gets from hackers, I would suggest that you open an account at a convenient, but completely separate bank from your main bank account and only transfer the funds via cash. Financial institutions are under a certain amount of obligation and scrutiny to ensure that they aren't used for any sort of questionable activities, and if you have a series of transfers coming in from an exchange that makes the news because someone was using it for money laundering, you can easily find yourself with a locked account and a letter from the bank that they no longer wish to do business with you. Find a nice credit union with an interest bearing checking account with low fees and use that to deposit currency in, if you do indeed want to cash out.

 

[aleader]

Given the level of insecurity that is surrounding coin mining and online wallets, and the level of attention the whole ecosystem gets from hackers, I would suggest that you open an account at a convenient, but completely separate bank from your main bank account and only transfer the funds via cash. Financial institutions are under a certain amount of obligation and scrutiny to ensure that they aren't used for any sort of questionable activities, and if you have a series of transfers coming in from an exchange that makes the news because someone was using it for money laundering, you can easily find yourself with a locked account and a letter from the bank that they no longer wish to do business with you. Find a nice credit union with an interest bearing checking account with low fees and use that to deposit currency in, if you do indeed want to cash out.

Ok, thanks. What do you mean 'transfer funds via cash'? From Coinbase directly to the account?

 

[AdamK47]

In terms of "real world value", with my current mining revenue, I can order four pizzas (Med., with coupon) and a couple of sodas from Dominos every two days, and eat them for two days.

Of course, that's not the most efficient use of grocery money.

Or buy a new GPU every 25-30 days.

It's sad to see GPU mining having very detrimental health costs associated with it. It's best to not mine at all and leave the GPU purchasing to gamers.

 

[Shmee]

Or, if you just want to complain about it, you can always stay out of the thread.

 

[aleader]

I guess it's really important to remember your password:

https://www.pcgamer.com/password-tr...n-is-two-incorrect-attempts-from-destruction/

Is it seriously this easy to lose it or forget it?

 

[MrTeal]

I guess it's really important to remember your password:

https://www.pcgamer.com/password-tr...n-is-two-incorrect-attempts-from-destruction/

Is it seriously this easy to lose it or forget it?

Short answer, yes.

There are ways to mitigate that, but ultimately if you want your crypto to be really secure you want it in your own cold storage. That being said, Bitcoin touched $100 even in early 2013, so even way back then he had $700k+ worth of coin on that drive. I would be reciting the password every day if that was me.

 

[Shmee]

I wonder if it makes more sense to use nicehash as well as just straight mining ETH with something like Phoenixminer? I never used nicehash before, but I am wondering if with the soar of BTC compared to ETH, it would make more sense to use nicehash for getting more BTC. Obviously it doesn't hurt to diversify, and obviously I could also just buy some at dips...but which seems to be more efficient around now?

 

[aleader]

I wonder if it makes more sense to use nicehash as well as just straight mining ETH with something like Phoenixminer? I never used nicehash before, but I am wondering if with the soar of BTC compared to ETH, it would make more sense to use nicehash for getting more BTC. Obviously it doesn't hurt to diversify, and obviously I could also just buy some at dips...but which seems to be more efficient around now?

Would this EIP-1559 thing change things? They are talking about moving to 'Raven'?

Also, does anyone here use 'Brave' as a browser with a 'Metamask' wallet? This guy also uses 'Lolminer':

It would be nice if there weren't so many options!

 

[wege12]

Would this EIP-1559 thing change things? They are talking about moving to 'Raven'?

EIP-1559 would burn ETH transaction fees which are currently paid to miners. This would lower profitability of ETH mining which is why you might hear rumors of miners pointing their GPUs to Raven.

However, if I was mining ETH and EIP-1559 was implemented, I would probably just switch to Nicehash like the poster above mentioned. It does suck that fees might start getting burned as miners are currently what run the Ethereum blockchain but mining is already on its way out with POS. Not to mention the sole purpose of EIP-1559, to make the the ETH blockchain less expensive to use. When the blockchain gets congested (like it is right now) it becomes quite expensive to use it.

 

[aleader]

In the USA, you can link your Coinbase exchange account to Paypal, and then transfer BTC to Coinbase, sell for USD on their site, and then withdraw USD to Paypal.

I'm still having a hard time understanding this. I'm interested in the Canada one on the bottom. I took this from the Paypal site:

Payout limits:

USD

(in local currency)	USD	EUR	GBP	CAD
Per transaction	10,000	7,500	6,500	12,000
Per day	25,000	20,000	20,000	30,000

The following table lists all supported PayPal transactions by region:

	Fiat Wallet (s)	Withdraw*	Sell
US	USD	USD	None
EU	EUR	EUR	None
UK	GBP and EUR	GBP and EUR	None
CA	None	None	CAD

*Withdraw refers to a direct Fiat movement from a Fiat Wallet to an external source
*Sell refers to an indirect Fiat movement from a Crypto Wallet to Fiat then to an external source


What does this mean for me in simple english? I would convert ETH/BC into USD in Coinbase and then just transfer that to Paypal? Would it leave me a 'credit' in Paypal in CAD? I don't understand the meaning of 'sell'. Sell what?

 

[aleader]

EIP-1559 would burn ETH transaction fees which are currently paid to miners. This would lower profitability of ETH mining which is why you might hear rumors of miners pointing their GPUs to Raven.

However, if I was mining ETH and EIP-1559 was implemented, I would probably just switch to Nicehash like the poster above mentioned. It does suck that fees might start getting burned as miners are currently what run the Ethereum blockchain but mining is already on its way out with POS. Not to mention the sole purpose of EIP-1559, to make the the ETH blockchain less expensive to use. When the blockchain gets congested (like it is right now) it becomes quite expensive to use it.

What is the upside to raven though? Just a good time to get in on it as it is projected to spike in price or something?

 

[Accord99]

I'm still having a hard time understanding this. I'm interested in the Canada one on the bottom. I took this from the Paypal site:

In Canada, you're probably better off using a site like https://shakepay.com/ or https://www.newton.co/, you can sell your cryptocurrency there and withdraw C$ through interac ETransfer to your bank account.

 

[aleader]

In Canada, you're probably better off using a site like https://shakepay.com/ or https://www.newton.co/, you can sell your cryptocurrency there and withdraw C$ through interac ETransfer to your bank account.

I'll check that out, thanks.

 

[ozzy702]

EIP-1559 would potentially make Ethereum less decentralized in the short term which is bad for network security, but in the long term, it 100% needs to be implemented whether on ETH1.0 or ETH2.0. The combination of staking on ETH2.0 and EIP-1559 implementation is the perfect economic storm for massive increase in price of ETH.

I'm all for EIP-1559 even though it means short term gains would be lower, mainly because it's better for the ecosystem, should help with the negativity surrounding gas fees, reduce inflation (one less talking point for the maximalists) and will reduce downward pressure on price.

 

[wege12]

I'm all for EIP-1559 even though it means short term gains would be lower, mainly because it's better for the ecosystem, should help with the negativity surrounding gas fees, reduce inflation (one less talking point for the maximalists) and will reduce downward pressure on price.

You might be the first miner that I've seen (besides me) with this mindset. I think you have the right mindset because EIP-1559 is extremely important for the longevity of the Ethereum blockchain. The longer that ETH fees are high, just gives ample room for competing turing-complete blockchains to gain market share. I don't like my profits being cut either, but we all stand to gain more by Ethereum being the the leading smart-contract blockchain for years to come than just in the moment.

 

[ozzy702]

You might be the first miner that I've seen (besides me) with this mindset. I think you have the right mindset because EIP-1559 is extremely important for the longevity of the Ethereum blockchain. The longer that ETH fees are high, just gives ample room for competing turing-complete blockchains to gain market share. I don't like my profits being cut either, but we all stand to gain more by Ethereum being the the leading smart-contract blockchain for years to come than just in the moment.

Yeah, it seems like most miners are pretty short sighted and myopic in regards to the entire Ethereum ecosystem and it's long term potential. Same reason why so many miners sell large percentages (if not all) of their ETH instead of looking to the future. I get it, electricity and capital expenditures are expensive and painful. Large operations probably can't float it all. I started mining in 2016... and I've never sold a single ETH and don't plan to for awhile. I'm waiting for Rocketpool to go live and then I'll stake the majority of my holdings. I'm a firm believer that when it comes to the long term roadmap to Ethereum and corresponding price of ETH, we're still very early and things are just getting started.

 

[MrTeal]

So with all the press over prices I downloaded Nicehash just to play with it a little on my 1080 Ti while I wait for a new GPU to come into stock.
I'm finding my hashrate on Excavator/Dagger is extremely variable on the order of minutes, and was wondering if that was normal from what people are seeing. Generally it might average 40ish MH/s, but it'll drop to 34-35 and stay there for a few minutes, than be 39 for a few, sometimes 45 or even 50 but also occasionally 30.
This doesn't seem to correspond with a change in GPU usage or power % in Afterburner, though I haven't checked at the wall.

Is that behaviour normal? I was expecting it to be more steady.

 

[VirtualLarry]

I've never mined with an 1080 or 1080ti, so take this with a grain of salt, but MH/sec number DO vary, but not by a whole lot. Varying by 5MH/sec is a lot. 0.5MH/sec variance is fairly normal.

Did you use the "OhGodAnEthlargementPill"? You need to use that on a 1080ti card.

 

[MrTeal]

Nicehash fires it up by default, yeah.

 

[VirtualLarry]

Hmm. Haven't used 'Excavator' miner in a while. That's NH's own home-grown miner. I read recently that it can keep multiple (ETH?) DAG files in RAM at once, and can switch between them without re-building them like other miners. That may be what you're seeing. Note that in NH, you "hash" an "algorithm", you DO NOT "mine" a "coin". Buyers of hashpower to NH, of which jobs get distributed to people running their client like you, are hashing (often) for mining DIFFERENT COINs, sometimes back and forth, or one after another, as the different jobs come in. Look for the "Epoch" of the DAG, if they are different, then you're probably hashing on different coins. This may be what you're seeing.

Edit: OR,

You may be throttling, either power or temp. Load up HWInfo64, it can tell you throttle status/history for NVidia cards.

 

[MrTeal]

Power's steady at about 82% with 100% GPU load and core temp is 47C, but I did get it to stabilize after a restart and fully closing Steam, and Gog, and Epic, and Teams, and Discord and...

Now getting a pretty steady 42MH/s. though I am a little confused about the scaling. It seems hashrate correlates pretty well with core clock, but memory clocks have very little to no effect. My understanding of DH from back in the day is that is the opposite of what you would expect.
I even downloaded the latest version of Phoenix and found the same thing. I get the same effective hashrate of ~41MH/s at stock core (1848) with memory at 5000MHz as I do at 5800MHz. Afterburner and NVInspector both show the clocks dropping, and power goes from 81% at -500 (5000MHz) to 86 at +300 (5800MHz), so it seems like the value is actually changing.

Edit: I discovered 0.13ETH sitting in my Coinotron pool account though, so bonus there.

 

[Accord99]

Now getting a pretty steady 42MH/s. though I am a little confused about the scaling. It seems hashrate correlates pretty well with core clock, but memory clocks have very little to no effect. My understanding of DH from back in the day is that is the opposite of what you would expect.

As the DAG size increased, this seems to be the behavior of Pascal based GPUs. I've seen it occur on all my 1070s and 1080 Ti, where they are now bottlenecked by core speeds (or at the least require much higher core speeds than a couple of years ago) before memory speeds, unlike Vegas, Turing and Ampere.

 

[MrTeal]

Good to know. I wouldn't spend much time messing with with my single GPU anyway, but that helps keep me wasting a bunch of time at it.
I seem to have it reasonably well dialed in now, at +250 core (2088MHz) @ 1.062V and default memory. Getting 49MH/s, 93% power, 48C temp.

It's not noticeably louder than idle, so I'll just let it churn like this.

 

[ozzy702]

I've never mined with an 1080 or 1080ti, so take this with a grain of salt, but MH/sec number DO vary, but not by a whole lot. Varying by 5MH/sec is a lot. 0.5MH/sec variance is fairly normal.

Did you use the "OhGodAnEthlargementPill"? You need to use that on a 1080ti card.

Modern miners can do the same thing as theethlarementPill by setting straps to I believe 2. 1080 and 1080TI with GDDR5X can see big jumps in performance using those straps.