Get that new video card before the crypto currency people buy them all

[LowPolyOWG]

Managed to start my mining adventure today Hash rate is 24.000 Mh/s and I have currently mined 0.00023 Ethereum... 1 Etherium is worth 324 USD

Anyway, my rig isn't 100% dedicated for mining so I guess I have to leave it running 24/7...

[Art Blade]

not much to pay taxes from I reckon

[LowPolyOWG]

Yep, I don't expect to get wealthy with this, but it's cool to experiment with I'm mining as a part of a pool rather than solo. Basically, I'm donating some computing power for the mining process.

Hmm, expected pay rate from my setup.


Period/Currency:   ETH   USD   BTC
Minute:   Ξ0.00000   $0.00   ฿0.0000
Hour:   Ξ0.00003   $0.01   ฿0.0000
Day   Ξ0.00068   $0.22   ฿0.0001
Week:   Ξ0.00473   $1.54   ฿0.0006
Month:   Ξ0.02027   $6.61   ฿0.0025

[Art Blade]

I reckon at that rate, you're going to spend more money on power running that rig than actually earning anything.

[LowPolyOWG]

I'm better off by getting a well paid job instead. Well, most miners tend to run with more extreme setups (multiple graphics cards) and server grade equipment. Something beyond my reach...

I'll see how long I will do this, most likely just for a couple of days.

[LowPolyOWG]

Hmm, looks like my monthly projected pay rate went to 76 USD


Period   ETH   USD   BTC
Minute   Ξ0.00001   $0.00   ฿0.0000
Hour   Ξ0.00032   $0.11   ฿0.0000
Day   Ξ0.00777   $2.54   ฿0.0009
Week   Ξ0.05442   $17.81   ฿0.0066
Month   Ξ0.23324   $76.33   ฿0.0283

[Art Blade]

that sounds OK

[LowPolyOWG]

Yeah, for long term gains, it should be possible to make some profit. Seems like some Norwegians have joined this party as well. Komplett and the other Norwegian retailers are empty of Radeon RX 500s

[Art Blade]

crazy

[LowPolyOWG]

Let's hope RX Vega doesn't suffer the same faith, causing a massive price hike Even Nvidia's 10xx series are being sold out by the major retailers

[Art Blade]

that's really crazy. At least you should be able to order one or two cards so you don't have to rely on "finding" them in a shop.

[LowPolyOWG]

Considering my new plans to retire this rig and bulid a new one, I might use my current one as a cryptomining rig

[Art Blade]

 

[Dweller_Benthos]

Interesting, though I still don't see where the real money is coming from, what is the result after you've processed a "unit" - what value does it have to someone and who pays for it?

[LowPolyOWG]

I assume the money comes as soon I sell my mined "ethereum" on the market. There seems to be demand for volatile cryptocurrency. Most likely, the buyers are probably investors/private people that wants to invest into something else rather than stocks
Coinmarketcap lists crypto currency prices