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Wow. Bitcoin is almost $1,500

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Zeze

Lifer
Mar 4, 2011
10,294
501
126
Something to keep in mind for those thinking "I'll just sell the expensive video cards I bought if it all crashes."

Not only will there be a flood of other people also trying to sell their cards, but all of these cards have been used for mining, which is a lot more intensive than typical gamer usage. I personally wouldn't touch a used video card with a ten foot pole because who knows what condition it is in after all that mining.
I'm clueless but I heard mining doesn't really reduce the longevity of the card unless cooling has been jeopardized
 

Ns1

No Lifer
Jun 17, 2001
55,399
1,510
126
I told you so.

Your day is brighter when you see it skyrocket.

How many you got?
when VEN goes to 20k I'll have $1.34MM in my pocket.



.2 ETH is the minimum payout from my mining rig, so I got 67 VEN from it. I refuse to put fiat in the game in any capacity other than my limited mining rig. VEN did go up against ETH today though, so the thought of cashing back to ETH and just playing the game back and forth did cross my mind...
 

fleshconsumed

Diamond Member
Feb 21, 2002
5,939
1,246
136
when VEN goes to 20k I'll have $1.34MM in my pocket.
Good luck with that :D My back of the napkin calculation says VEN would need approximate market cap of $10T, consider that BTC market cap is only $166B. INTC/MSFT/APPL all have market cap under $1Tn.
 

Ns1

No Lifer
Jun 17, 2001
55,399
1,510
126
Good luck with that :D My back of the napkin calculation says VEN would need approximate market cap of $10T, consider that BTC market cap is only $166B. INTC/MSFT/APPL all have market cap under $1Tn.
so...end of 2019? I can't wait forever to retire early y'know.
 

Zeze

Lifer
Mar 4, 2011
10,294
501
126
when VEN goes to 20k I'll have $1.34MM in my pocket.



.2 ETH is the minimum payout from my mining rig, so I got 67 VEN from it. I refuse to put fiat in the game in any capacity other than my limited mining rig. VEN did go up against ETH today though, so the thought of cashing back to ETH and just playing the game back and forth did cross my mind...
If VEN goes to $20K, the world is gonna explode.

Where does all that crazy money coming from in the world to make eveyone so rich?

I'd have 86 million dollars and moderate to real whales would have more money than the world economy.
 

VirtualLarry

No Lifer
Aug 25, 2001
50,038
5,856
126
How much BTC is there left to mine?!?
The thing is, it's time-based, so sometime in 2024 or so, I heard? It gives coins every 10 minutes, and adjusts hash-rate difficulty to stay around that timing, no matter how many people are mining.
 

pete6032

Diamond Member
Dec 3, 2010
4,950
800
126
oh damn that's actually a lot. I see why BTC mining farms are still profitable....
Yep that's about half a million dollars if bitcoin is at $10k. It's like playing the lottery. Spend your money on mining equipment and resources for a chance to guess the correct hash and win a prize
 

destrekor

Lifer
Nov 18, 2005
28,757
343
126
More like 2140
While true that the very last Bitcoins won't be mined until sometime around that mark, the vast majority will have been mined by 2024. Currently projections leave only a million or so left for the last 100 years. Coin reward rate will continue to undergo "halving" so we won't have to reach the max cap before demand starts outstripping production/supply.
 

destrekor

Lifer
Nov 18, 2005
28,757
343
126
50 coins every block
oh damn that's actually a lot. I see why BTC mining farms are still profitable....
Yep that's about half a million dollars if bitcoin is at $10k. It's like playing the lottery. Spend your money on mining equipment and resources for a chance to guess the correct hash and win a prize
That's incorrect.

It was once 50 BTC every block, at the very beginning, but that is now down to 12.5 BTC. It's likely to drop down to 6.25 around the turn of the decade.
 

destrekor

Lifer
Nov 18, 2005
28,757
343
126
Also, solo mining going after the big prize is an absolutely stupid idea. No guarantee you ever even find one before your hardware dies at this point, mining pools with more regular block solves with small payouts usually on the regular will actually work up to more than what you'd likely ever earn solo. When odds are mining a solo block perhaps once every 24 hours, that's decent odds because over the long-haul, you'd average that. But now when solo mining just about anything tends to mean odds starting in weeks and ending years, you may very well average out to having been paid out as much as you would have earned if you actually mined a block as often as odds say you would. But if the odds say every few months, you could easily go a year with nothing, and then maybe a year with two, and then a year with nothing, and then one or two a year for a couple years... and that's not factoring in difficulty scaling - your "months" that didn't produce anything for the first year could suddenly turn into odds of solving a block once a year, and that could change before the end of a single year as it is.
 

Charlie22911

Senior member
Mar 19, 2005
609
227
116
Something to keep in mind for those thinking "I'll just sell the expensive video cards I bought if it all crashes."

Not only will there be a flood of other people also trying to sell their cards, but all of these cards have been used for mining, which is a lot more intensive than typical gamer usage. I personally wouldn't touch a used video card with a ten foot pole because who knows what condition it is in after all that mining.
This is not an accurate blanket statement.
I’ll take a card that’s been run at 70% power target while underclocked and run 24/7 without all those thermal cycles any day over some Cheeto fingered dudes overclocked-to-the-limit used for gaming and heavily thermal cycled pixel pusher.

Man, inaccurate statements have been bugging me far more than they should be. I gotta remember this is the internet...
 

Red Storm

Lifer
Oct 2, 2005
14,214
216
106
This is not an accurate blanket statement.
I’ll take a card that’s been run at 70% power target while underclocked and run 24/7 without all those thermal cycles any day over some Cheeto fingered dudes overclocked-to-the-limit used for gaming and heavily thermal cycled pixel pusher.

Man, inaccurate statements have been bugging me far more than they should be. I gotta remember this is the internet...
You're right it's not an accurate blanket statement, but I'm not talking about mining farms where the people operating them are careful, I'm talking about those same regular Cheeto fingered people who are using their cards at home to mine.
 

Charlie22911

Senior member
Mar 19, 2005
609
227
116
You're right it's not an accurate blanket statement, but I'm not talking about mining farms where the people operating them are careful, I'm talking about those same regular Cheeto fingered people who are using their cards at home to mine.
It's still not that simple, there is a financial incentive to run your cards at their most efficient settings. Mining profitably, regardless of number of cards or operation size, depends on the miner correctly setting up their equipment and making sure that equipment is taken care of.

However I will concede two important facts related to mining that everyone should be aware of:
1. Cards used for mining will likely have diminished cooler lifespan, significantly so if run at 100%. This will not matter as much for coolers using quality ball bearing fans.

2. Cards not run in a climate controlled environment may well have humidity related issues, I'd personally avoid these. It should be easy to spot via corrosion on aluminum fins where the fans directly blow on them.


I've said it in multiple posts, but all my early bitcoin mining cards are still functional as far as I'm aware and have far outlasted their useful life.
Of those cards, I still have possession of 3x MSI Lightning AMD 6970s and 1x reference ATI 5870; they are still fine and would have served a new owner well had I sold them.

EDIT:

And for that matter where do we draw the line when criticizing people for using their cards for non gaming purposes? Do we also chastise the DC crowd when they sell off their equipment? Folks who use cards in mini render farms?
What about folks who've dabbled in all three like myself??
 
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