"It sounds like English, but I can't understand a damn word you're saying."
LoL, Sorry about that. I and everyone I know been around it so long I forget there are people that don't have the exposure Basically here the rundown (helps me keep it straight too), I am, like many others, using an old computer with some modern components to store and encrypt the complete bitcion transaction ledger. In turn I am rewarded with bitcoin that is also stored on said ledger. The computer uses power and when the bitcoin reward is greater than cost of the power it's profitable to me.
I'm using the term bitcoin as a generalization, there are many different transaction ledgers (or blockchains) that can be used or ''mined''. I do one called Ethereum because it's more profitable with my hardware setup.
Blockchains, or more simply put ''distributed encrypted ledgers'' allow for really secure transparent redundant documentation. That may sound odd but think of it this way. Your financial records maybe all stored in one place with one or two backups. If something damages those, or manipulates them in any way then there is no simple recourse. But if they were heavily encrypted and compressed then stored on thousands of backups the change of loss or manipulation drops to about zero.
Many companies are evoking this tech. It is not going anywhere. It is here to stay. Or until we master the quantum computing thing. At the moment it would take on average a typical supercomputer 500 million years to crack a bitcoin code. And that's just the first generation blockchain. We are three generations into it now. I'm eyeballing the medical blockchains along with real estate, banking, and gaming as my primary holdings. Provided I can get my bitcoin out onto the exchange. I remember when many of these currencies were under a cent each, now they are up 1000-10000%
@66Tbird said:
» show previous quotes
yep, any kind of data, accounting, records etc. etc.
_So it's like cloud storage I could get from Microsoft or Amazon for $9.99/month?
This looks more like a service rather than an asset._
**That service can be hacked or destroyed far easier than a blockchain by a factor of millions.
**
where's the fire extinguisher?
That's a legit question/concern and I use WilliamsRDM 675-3D Firestop canisters. I've got half dozen of these in places around the home and shop. Brought one on a whim and used in above my battery charging station. Sure enough one battery caught fire and that Firestop saved my ass. I learned then that when you need a fire extinguisher you REALLY NEED a good working unit. Cheap insurance indeed. https://amazon.com/gp/product/B00FL6VU3Y/ref=oh_aui_search_detailpage?ie=UTF8&psc=1
I'm only using 400 watts at the outlet and that heat is dissipated through the big back plates of the three video cards and the oversized 750w power supply. Which btw I've read the manufactures power graph and I'm sitting in the optimal efficiency zone of 93% so that power supply fan has yet to turn on. For in house use it's quiet and cool with card temps around 60C (at the chip sensor) So when you pick one up it's hardly warm. Just makes a little warm air and that keeps the chill off the room.
yep, any kind of data, accounting, records etc. etc.
_So it's like cloud storage I could get from Microsoft or Amazon for $9.99/month?
This looks more like a service rather than an asset._
**That service can be hacked or destroyed far easier than a blockchain by a factor of millions.
0
Seems there are countless stories of bit coin hacks, are there not?
I'm still looking for the asset angle of this.
Normally it's the exchanges getting hacked. Which is why keeping your funds in a private 'wallet' (small piece of software that generates and can store the code and key) with two part authentication is a must. I then print a hard copy and lock it away till later. Wallets can be made willy nilly and funds added in any amount.
The asset angle is the sum of the whole thing and what it means. Much like the faith in the dollar.
The dollar is backed by 330 million people, the most diverse and efficient economy, a wealth of natural resources, unmatched technological brainpower and the most powerful and advanced military.
I'm really failing to see how an accounting system is comparable.
@cohodk said:
The dollar is backed by 330 million people, the most diverse and efficient economy, a wealth of natural resources, unmatched technological brainpower and the most powerful and advanced military.
I'm really failing to see how an accounting system is comparable.
The looks increasing more and more like something that will be coomoditized, especially if widely adopted.
@cohodk said:
The dollar is backed by 330 million people, the most diverse and efficient economy, a wealth of natural resources, unmatched technological brainpower and the most powerful and advanced military.
I'm really failing to see how an accounting system is comparable.
I never asked why some of my tech friends had six foot tall racks of jammed with the latest and fastest CPU in their garage. LOL now I know.
OT but this is where I think all of this is going. http://www-03.ibm.com/press/us/en/pressrelease/53602.wss
@cohodk said:
The dollar is backed by 330 million people, the most diverse and efficient economy, a wealth of natural resources, unmatched technological brainpower and the most powerful and advanced military.
I'm really failing to see how an accounting system is comparable.
I never asked why some of my tech friends had six foot tall racks of jammed with the latest and fastest CPU in their garage. LOL now I know.
OT but this is where I think all of this is going. http://www-03.ibm.com/press/us/en/pressrelease/53602.wss
So where do these "coins" come into play? Where is the value derived from for these "coins"?
Where is the value derived from for these "coins"?
Just the same as with dollars and any currency. The value is derived from what the person receiving them in a transaction believes they are worth. All currency is a faith based system. Faith that the next guy will value it the same as the guy passing it on to him. With bitcoin the faith lies in a hope of increased value. With dollars the faith lies in a hope that they won't see too much depreciation.
Market participants determine worth and value. Dollars and bitcoin are no different in this respect.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
? When a bitcoin is mined, is that then reported to the IRS as income ? Just curious on how that is handled, if it is considered valuable and as a form of currency?
@tincup said:
? When a bitcoin is mined, is that then reported to the IRS as income ? Just curious on how that is handled, if it is considered valuable and as a form of currency?
Nope, not reported yet. Cashing out large amounts will for sure.
Looks like IBM choose to work with another crypto that has community support rather than creating thier own...
In this case, I would say that the network itself, and it's ability to function as an immutable ledger lends "value".
The native coins produced on this network (XLM) have a value determined by market. A lot of technicals play a role in this I believe.
Total money supply
Distribution of coins
Strength/health of network
Centralized vs Decentralized
First mover advantage
Development roadwork/map
Mining profitability
Blatant manipulation
And a host of other factors.
@tincup said:
? When a bitcoin is mined, is that then reported to the IRS as income ? Just curious on how that is handled, if it is considered valuable and as a form of currency?
Nope, not reported yet. Cashing out large amounts will for sure.
Guess I always thought when you 'earned' or gained possession of an asset that is now available for you to use... that needed to be counted as income in the eyes of the IRS.
But then... guess I really don't understand bitcoins... which is the reason I stay away from them. Prefer to keep things simple if possible..
@tincup said:
? When a bitcoin is mined, is that then reported to the IRS as income ? Just curious on how that is handled, if it is considered valuable and as a form of currency?
Nope, not reported yet. Cashing out large amounts will for sure.
Guess I always thought when you 'earned' or gained possession of an asset that is now available for you to use... that needed to be counted as income in the eyes of the IRS.
But then... guess I really don't understand bitcoins... which is the reason I stay away from them. Prefer to keep things simple if possible..
I think the IRS may agree with you. 1099K reports transactions and if people receive them they will need to justify cost. If the bitcoins are mined I’m guessing people will figure out how to figure creation expense. That is if the IRS allows it.
Just got an email from an accounting newsletter about this tonight. Apparently The self reporting of bitcoin gains are the lowest of any asset. Some people who thought this was all anonymous are going to be in for a hell of a ride with the IRS.
@jmski52 said:
You have to download a 147 Gb file just to make a transaction? Doesn't make crypto sound all that convenient.
Extremely inconvenient and for me a total PITA. I was trying to download it during that market high and it kept crashing. I run redundant SSD drives and a dual LAN setup so there is no reason for the errors on my end. Soon as the volatility settled I did a full download again and it did it in four days.
But now it's sycn'd and ready to do a transaction. There are other ways to deal in bitcoin without that big download. It's just that I had my stuff is in a file type ''wallet'' that required the download.
@jmski52 said:
You have to download a 147 Gb file just to make a transaction? Doesn't make crypto sound all that convenient.
Extremely inconvenient and for me a total PITA. I was trying to download it during that market high and it kept crashing. I run redundant SSD drives and a dual LAN setup so there is no reason for the errors on my end. Soon as the volatility settled I did a full download again and it did it in four days.
But now it's sycn'd and ready to do a transaction. There are other ways to deal in bitcoin without that big download. It's just that I had my stuff is in a file type ''wallet'' that required the download.
Two (2) words: Ledger Nano
Successful BST transactions:
Buy and sold to Wondercoin,
Buy from: mbogoman, sol15g
First I had 100 pounds of fairy dust ( er...bitcoin, er... crypto-currency) with my money. Now it’s about 3 ounces of ____ , And I still can’t use it to buy anything.
I'm finally fully synced and can spend my BTC (Bitcoin) Which I did into an Exchange called Binance. I also added my recently mined Ethereum and converted most of my BTC into ETH (Ethereum) at the ETH low a while ago and swept out a nice 15% gain last night. Mainly just testing the system and getting used to the interface and where the real data is.
My miner is still putting along at a simple 52mhz and using just 275 watts (per hour 24/7) for an income of $2/day. It would only be $1 if I had a power bill.
I'll have to look into nano ledger. There are a few other too. But now that I'm sync'd and backed up to my NAS for both Bitcoin and Ethereum I'm good. It's challenging, time consuming and rewarding on the brainy side of things
Question , I have 100 bitcoins in my wallet and I need a gallon of milk how do I buy it?
Additional information , I'm in puerto rico and my power has been out for 6 months and theres no cellphone or internet
_
If you had a 100 BTC your problem would be waiting to get out of Puerto Rico asap so you could sell just one half of a bitcoin, buy your milk, and have $4k+ walking around money. Then you'd be kicking yourself for not cashing that out at its $1.8 million peak.
Without an internet connection you cannot do a transaction. Credit cards kind of the same. On the flip side we have a store around here that doesn't take cash. It's CC, PP, GP, btc etc.. only.
bitcoin is dying (again...for the 200th time). sell everything, quick. the sky is falling.
66Tbird, my buddy is cranking out BitcoinCash with his 3- S9 miners. VERY profitable the last week.
ETH has rebound nicely also. I bought the dip at $375. Bought the Bitcoin dip at $6750.
Litecoin is strapping on rocket boosters as I type. Gonna be a good year.
@ Elite CNC Routing & Woodworks on Facebook. Check out my work. Too many positive BST transactions with too many members to list.
@guitarwes said:
bitcoin is dying (again...for the 200th time). sell everything, quick. the sky is falling.
66Tbird, my buddy is cranking out BitcoinCash with his 3- S9 miners. VERY profitable the last week.
ETH has rebound nicely also. I bought the dip at $375. Bought the Bitcoin dip at $6750.
Litecoin is strapping on rocket boosters as I type. Gonna be a good year.
I noticed the Litecoin and converted some btc into it via the Binance exchange two days ago. Go baby go. What started as a few bucks left in a wallet four years ago is now over $500 and climbing. It's a hype and numbers game on the surface but deep down blockchains are going to change the world. The writing is on the wall and easy to read if you have a picture of that wall. There is so much talk about this and that that it took months of learning curve to find out the facts. Basically there are only a handful of legit coins I'll go strong on. The rest are catch it if you can chart traders. IMHO
My little miner just keeps humming away at a simple $2.68/day free and clear.
I'm in deep with the Binance exchange. I've spread myself out over 8 different coins. Done probably 50 trades and upped the portfolio value 27% in a week. Total cost of trading is about 4 cents. Now it's time to buy btc with Pp and ride this wave awhile. Met a guy a week ago (he bought a house we're selling for an estate) and he ask if we would take crypto. Well that kicked off an hour of education on the finer points of this trading thing. This guy saw what I now see back in 2014 and sunk 35K into btc a 300 something and bailed 90% of it at 18,000. It was his sixth house he'd bought in three months.
Another update to the Franken Miner. Something was just not right with my hashing power. I should be making more with the cards I have. I have the ability monitor and adjust every aspect of these cards. To fine tune voltages and frequencies while monitoring error rates, power usage etc.. It seems the bottleneck was in the 15 year old motherboard and it's tech. As luck would have it Ethereum prices had fell sharply and miners jumped ship providing a flood of dedicated mining motherboard for cheap on eBay. I used last months $100 mining profits to buy a mobo, some ddr4 ram and a low power i3 KBL Intel cpu. Even grabbed another card cheap ($225) because I've got the power to spare.
I also figure I'd lose the metal case because it was just killing airflow. One 8 foot 1x2 and 2 dozen screws later the mounting frame arrived. Really makes life simpler to work on this thing.
Latest lesson learned, New Intel processors won't load anything but Winblows10 without a fight. Since win10 is a meta data miner (of your data) its ISO is available for free from Microsoft. Since I'm only mining and in full control I'll run win10 unregistered (perfectly legal btw) because I could care less about them seeing what its doing.
Here is the latest mining rig with an output of 100+ mega hash at 500 Watts. That is twice what I was averaging and each of the original cards have increased outputs 50%. Much more ability to move data on a modern motherboard.
Crypto exchange update: The market is falling but I'm catching the peaks and valleys nicely keeping my value steady with my holdings increasing. It's kind of fun to do a 3x flip. To bad I only had $10 into it. With commissions at .05% I don't even calculate it in the transaction.
Back into the shop the miner goes to make a few bucks a day.
Comments
Here comes Peter Cottontail,
Hoppin' down the bunny trail,
Hippity, hoppity,
Easter's on its way.
Knowledge is the enemy of fear
66tbird
"It sounds like English, but I can't understand a damn word you're saying."
LoL, Sorry about that. I and everyone I know been around it so long I forget there are people that don't have the exposure Basically here the rundown (helps me keep it straight too), I am, like many others, using an old computer with some modern components to store and encrypt the complete bitcion transaction ledger. In turn I am rewarded with bitcoin that is also stored on said ledger. The computer uses power and when the bitcoin reward is greater than cost of the power it's profitable to me.
I'm using the term bitcoin as a generalization, there are many different transaction ledgers (or blockchains) that can be used or ''mined''. I do one called Ethereum because it's more profitable with my hardware setup.
Blockchains, or more simply put ''distributed encrypted ledgers'' allow for really secure transparent redundant documentation. That may sound odd but think of it this way. Your financial records maybe all stored in one place with one or two backups. If something damages those, or manipulates them in any way then there is no simple recourse. But if they were heavily encrypted and compressed then stored on thousands of backups the change of loss or manipulation drops to about zero.
Many companies are evoking this tech. It is not going anywhere. It is here to stay. Or until we master the quantum computing thing. At the moment it would take on average a typical supercomputer 500 million years to crack a bitcoin code. And that's just the first generation blockchain. We are three generations into it now. I'm eyeballing the medical blockchains along with real estate, banking, and gaming as my primary holdings. Provided I can get my bitcoin out onto the exchange. I remember when many of these currencies were under a cent each, now they are up 1000-10000%
So bitcoin or ethereum ect, is a piece of an accounting mechanism?
Knowledge is the enemy of fear
yep, any kind of data, accounting, records etc. etc.
Thanks 66Tbird, for an explanation that even I can comprehend.
So it's like cloud storage I could get from Microsoft or Amazon for $9.99/month?
This looks more like a service rather than an asset.
Knowledge is the enemy of fear
where's the fire extinguisher?
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
_So it's like cloud storage I could get from Microsoft or Amazon for $9.99/month?
This looks more like a service rather than an asset._
**That service can be hacked or destroyed far easier than a blockchain by a factor of millions.
**
where's the fire extinguisher?
That's a legit question/concern and I use WilliamsRDM 675-3D Firestop canisters. I've got half dozen of these in places around the home and shop. Brought one on a whim and used in above my battery charging station. Sure enough one battery caught fire and that Firestop saved my ass. I learned then that when you need a fire extinguisher you REALLY NEED a good working unit. Cheap insurance indeed.
https://amazon.com/gp/product/B00FL6VU3Y/ref=oh_aui_search_detailpage?ie=UTF8&psc=1
I'm only using 400 watts at the outlet and that heat is dissipated through the big back plates of the three video cards and the oversized 750w power supply. Which btw I've read the manufactures power graph and I'm sitting in the optimal efficiency zone of 93% so that power supply fan has yet to turn on. For in house use it's quiet and cool with card temps around 60C (at the chip sensor) So when you pick one up it's hardly warm. Just makes a little warm air and that keeps the chill off the room.
0
Seems there are countless stories of bit coin hacks, are there not?
I'm still looking for the asset angle of this.
Knowledge is the enemy of fear
Normally it's the exchanges getting hacked. Which is why keeping your funds in a private 'wallet' (small piece of software that generates and can store the code and key) with two part authentication is a must. I then print a hard copy and lock it away till later. Wallets can be made willy nilly and funds added in any amount.
The asset angle is the sum of the whole thing and what it means. Much like the faith in the dollar.
The dollar is backed by 330 million people, the most diverse and efficient economy, a wealth of natural resources, unmatched technological brainpower and the most powerful and advanced military.
I'm really failing to see how an accounting system is comparable.
Knowledge is the enemy of fear
The looks increasing more and more like something that will be coomoditized, especially if widely adopted.
Knowledge is the enemy of fear
Here in AZ we can (or will be able to) pay our taxes with bitcoin. It's the setting of a precedent to make it a taxable source.
Sorry if this is way OT
I never asked why some of my tech friends had six foot tall racks of jammed with the latest and fastest CPU in their garage. LOL now I know.
OT but this is where I think all of this is going.
http://www-03.ibm.com/press/us/en/pressrelease/53602.wss
John Oliver had a good thing on bitcoin on Last Week Tonight last night.
https://theverge.com/tldr/2018/3/12/17108852/john-oliver-explaining-bitcoin-cryptocurrency-blockchain-watch-this
So where do these "coins" come into play? Where is the value derived from for these "coins"?
Why doesnt IBM have a "coin'?
Knowledge is the enemy of fear
Where is the value derived from for these "coins"?
Just the same as with dollars and any currency. The value is derived from what the person receiving them in a transaction believes they are worth. All currency is a faith based system. Faith that the next guy will value it the same as the guy passing it on to him. With bitcoin the faith lies in a hope of increased value. With dollars the faith lies in a hope that they won't see too much depreciation.
Market participants determine worth and value. Dollars and bitcoin are no different in this respect.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Not even close to the same derrtb, and you know that.
Where are the barriers of entry?
Knowledge is the enemy of fear
? When a bitcoin is mined, is that then reported to the IRS as income ? Just curious on how that is handled, if it is considered valuable and as a form of currency?
Nope, not reported yet. Cashing out large amounts will for sure.
Here is something I just pulled from Google.
http://fortune.com/2017/10/16/ibm-blockchain-stellar/
Looks like IBM choose to work with another crypto that has community support rather than creating thier own...
In this case, I would say that the network itself, and it's ability to function as an immutable ledger lends "value".
The native coins produced on this network (XLM) have a value determined by market. A lot of technicals play a role in this I believe.
Total money supply
Distribution of coins
Strength/health of network
Centralized vs Decentralized
First mover advantage
Development roadwork/map
Mining profitability
Blatant manipulation
And a host of other factors.
What were we talking about again?
It's all about what the people want...
You asked about value of bitcoin. It is determined the same way value is for any asset or any currency. Market participants set the price.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Guess I always thought when you 'earned' or gained possession of an asset that is now available for you to use... that needed to be counted as income in the eyes of the IRS.
But then... guess I really don't understand bitcoins... which is the reason I stay away from them. Prefer to keep things simple if possible..
I think the IRS may agree with you. 1099K reports transactions and if people receive them they will need to justify cost. If the bitcoins are mined I’m guessing people will figure out how to figure creation expense. That is if the IRS allows it.
Just got an email from an accounting newsletter about this tonight. Apparently The self reporting of bitcoin gains are the lowest of any asset. Some people who thought this was all anonymous are going to be in for a hell of a ride with the IRS.
My Ebay Store
Your comparison is more closely related to trilobites than the dollar.
Knowledge is the enemy of fear
Lower lows? Bitcoin is at $8,100 and GBTC at $13.31 (5 weeks ago it was at $10.05). A lower launching pad or continued implosion?
The price is so low I'm unsure what to do with my .0453 of bitcoin. It's like $350 or so. Maybe convert it to Ethereum which I'm mining now.
Thanks for the tech report Tbird...always good stuff.
You need to move to Venezuela.
https://www.marketwatch.com/story/heres-how-much-it-costs-to-mine-a-single-bitcoin-in-your-country-2018-03-06
Knowledge is the enemy of fear
You have to download a 147 Gb file just to make a transaction? Doesn't make crypto sound all that convenient.
I knew it would happen.
Wasn't the whole idea of distributed ledgers and blockchain that the transactions couldn't be tracked? Seems to have been a big farce from Day One.
I knew it would happen.
Extremely inconvenient and for me a total PITA. I was trying to download it during that market high and it kept crashing. I run redundant SSD drives and a dual LAN setup so there is no reason for the errors on my end. Soon as the volatility settled I did a full download again and it did it in four days.
But now it's sycn'd and ready to do a transaction. There are other ways to deal in bitcoin without that big download. It's just that I had my stuff is in a file type ''wallet'' that required the download.
Two (2) words: Ledger Nano
Successful BST transactions:
Buy and sold to Wondercoin,
Buy from: mbogoman, sol15g
It looks like all the frenzied speculators have been shaken out of the cryptos. Now to see where the essential value is in blockchain technology.
Here's a warning parable for coin collectors...
First I had 100 pounds of fairy dust ( er...bitcoin, er... crypto-currency) with my money. Now it’s about 3 ounces of ____ , And I still can’t use it to buy anything.
Question , I have 100 bitcoins in my wallet and I need a gallon of milk how do I buy it?
Additional information , I'm in puerto rico and my power has been out for 6 months and theres no cellphone or internet
I'm finally fully synced and can spend my BTC (Bitcoin) Which I did into an Exchange called Binance. I also added my recently mined Ethereum and converted most of my BTC into ETH (Ethereum) at the ETH low a while ago and swept out a nice 15% gain last night. Mainly just testing the system and getting used to the interface and where the real data is.
My miner is still putting along at a simple 52mhz and using just 275 watts (per hour 24/7) for an income of $2/day. It would only be $1 if I had a power bill.
I'll have to look into nano ledger. There are a few other too. But now that I'm sync'd and backed up to my NAS for both Bitcoin and Ethereum I'm good. It's challenging, time consuming and rewarding on the brainy side of things
“If you like your insurance, you can keep your insurance”
_
Question , I have 100 bitcoins in my wallet and I need a gallon of milk how do I buy it?
Additional information , I'm in puerto rico and my power has been out for 6 months and theres no cellphone or internet
_
If you had a 100 BTC your problem would be waiting to get out of Puerto Rico asap so you could sell just one half of a bitcoin, buy your milk, and have $4k+ walking around money. Then you'd be kicking yourself for not cashing that out at its $1.8 million peak.
Without an internet connection you cannot do a transaction. Credit cards kind of the same. On the flip side we have a store around here that doesn't take cash. It's CC, PP, GP, btc etc.. only.
bitcoin is dying (again...for the 200th time). sell everything, quick. the sky is falling.
66Tbird, my buddy is cranking out BitcoinCash with his 3- S9 miners. VERY profitable the last week.
ETH has rebound nicely also. I bought the dip at $375. Bought the Bitcoin dip at $6750.
Litecoin is strapping on rocket boosters as I type. Gonna be a good year.
Too many positive BST transactions with too many members to list.
I noticed the Litecoin and converted some btc into it via the Binance exchange two days ago. Go baby go. What started as a few bucks left in a wallet four years ago is now over $500 and climbing. It's a hype and numbers game on the surface but deep down blockchains are going to change the world. The writing is on the wall and easy to read if you have a picture of that wall. There is so much talk about this and that that it took months of learning curve to find out the facts. Basically there are only a handful of legit coins I'll go strong on. The rest are catch it if you can chart traders. IMHO
My little miner just keeps humming away at a simple $2.68/day free and clear.
I'm in deep with the Binance exchange. I've spread myself out over 8 different coins. Done probably 50 trades and upped the portfolio value 27% in a week. Total cost of trading is about 4 cents. Now it's time to buy btc with Pp and ride this wave awhile. Met a guy a week ago (he bought a house we're selling for an estate) and he ask if we would take crypto. Well that kicked off an hour of education on the finer points of this trading thing. This guy saw what I now see back in 2014 and sunk 35K into btc a 300 something and bailed 90% of it at 18,000. It was his sixth house he'd bought in three months.
Bitcoin needs to double from here , in order to get mine back to the break even point. 130,000 CNY, here we go.
After you leave Puerto Rico, what exchange will give you cash back when you want to sell some bitcoin?
I knew it would happen.
Another update to the Franken Miner. Something was just not right with my hashing power. I should be making more with the cards I have. I have the ability monitor and adjust every aspect of these cards. To fine tune voltages and frequencies while monitoring error rates, power usage etc.. It seems the bottleneck was in the 15 year old motherboard and it's tech. As luck would have it Ethereum prices had fell sharply and miners jumped ship providing a flood of dedicated mining motherboard for cheap on eBay. I used last months $100 mining profits to buy a mobo, some ddr4 ram and a low power i3 KBL Intel cpu. Even grabbed another card cheap ($225) because I've got the power to spare.
I also figure I'd lose the metal case because it was just killing airflow. One 8 foot 1x2 and 2 dozen screws later the mounting frame arrived. Really makes life simpler to work on this thing.
Latest lesson learned, New Intel processors won't load anything but Winblows10 without a fight. Since win10 is a meta data miner (of your data) its ISO is available for free from Microsoft. Since I'm only mining and in full control I'll run win10 unregistered (perfectly legal btw) because I could care less about them seeing what its doing.
Here is the latest mining rig with an output of 100+ mega hash at 500 Watts. That is twice what I was averaging and each of the original cards have increased outputs 50%. Much more ability to move data on a modern motherboard.
Crypto exchange update: The market is falling but I'm catching the peaks and valleys nicely keeping my value steady with my holdings increasing. It's kind of fun to do a 3x flip. To bad I only had $10 into it. With commissions at .05% I don't even calculate it in the transaction.
Back into the shop the miner goes to make a few bucks a day.
https://arstechnica.com/tech-policy/2017/12/bitcoins-insane-energy-consumption-explained/
Talk about the tail wagging the dog.
the biggest hacks and scams in cryptocurrency history
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
So what happens when you get the 1099 for all these transactions?
My Ebay Store
You remind yourself that the IRS got a copy of the same 1099
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
It pays to get into the hacking instead of crypto currency.