BBT Carter will go slightly off topic (mining) today and discuss with the community the current price suppression, indicators and potential future scenarios in the near term. Additionally break down the Ethereum Foundation Development meeting and subsequent EIP (Ethereum Improvement Plan) regarding ethereum addressing of the defusing the difficulty bomb.
BBT's position on the difficulty is simple. If moving metropolis, they should defuse the difficulty bomb as soon as possible, vice waiting and allowing block time to go to 45sec. The point of the difficulty bomb was to move people to POS, but if POS is delayed, does not make any sense to keep the difficulty in play as it is negatively impacting the small contributor.
It would make sense to put ethereum difficult prediction on total network hash vs. artificial manipulation like ice age. Until PoS prep is ready for prime time, then refuse the bomb.
Intro and setup 0:00
Ethereum Diff Discussion: 8:50
Bitcoin Talk 45:00
Qbiq discussion 1:02:00
BBT Opinion on Eth Diff 1:28:30
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DOWNLOADS MENTIONED IN LIVESTREAM:
VERSION 5.2 of the Multi Miner ** updated 7/13/17
Full Setup
Mega Download:
https://mega.nz/#!8K51BQwQ!v8k3lLPrBd9EBcZ_75dGAj7eExIj26oEwfwIlYgkyto
Uploadfiles.io Download:
https://ufile.io/in364
Batch Script Only
Mega Download:
https://mega.nz/#!AO5mVDiA!wN62rogj-vKNTVX-0Sf0mKLXPtDzMCkkL78cutnw488
Uploadfiles.io Download:
https://ufile.io/vlb53
Hardware Covered in previous episode:
PC
Case: Thermaltake Open Frame - http://amzn.to/2sWBGlQ
CPU: Ryzen 7 1800x @ 4.1 OC - http://amzn.to/2pMos8N
Motherboard: ASUS ROG Crosshair VI Hero - http://amzn.to/2pLzoo0
WaterCooler: Corsair H115i WC - http://amzn.to/2r6FRhq
Mem: 4x 16GB Quad Channel Kit 3600mhz DDR4 64GB Kit - http://amzn.to/2ubz2g6
GPUs: 2x EVGA Superclocked 1080 Ti GTX @ 2133mhz OC - http://amzn.to/2ubyWFg
PSU: EVGA SuperNOVA 850 P2 80+ PLATIUM- http://amzn.to/2tKHwJO
Storage: Samsung Pro 960 NVMe 512gb - http://amzn.to/2ukWtns
1TB Sandisk Ultra II SSD - http://amzn.to/2qGvMI8
Kill A Watt Electricity Monitor - http://amzn.to/2sWHlse
Other processors tested:
i5-4670k Quad Core - http://amzn.to/2tOXReU
i3-7100 - i3 - http://amzn.to/2tOaIOF
Intel Pentium G4400 - http://amzn.to/2sSpRNK
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ETH: 0xF897EaFdb787AcD4Da5e2EB5003E42dc1Ef86d39
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Finally found you here. Keep up the good work. 😀
This is ridiculously good post man! Followed on steem and YouTube! I have 2 cards at ETH and 1 on UBIQ.
Cheers from Chicago, I'm following now, thanks for your insight!
Great post @bitsbetrippin! I just got to know you with this video, and it was really good to hear opinions from a long vet miner. I just got a question for you, as I'm a newbie. I was thinking in investing 6 gpu's but I kept reading blogs and comments about it is too late to get in into mining. Bitcoin and Ethereum aside, you think it's still profitable in the short term (3-4 months) to invest into a rig mining?
dvdivn given ethereum's difficulty rise (forced by iceage feature) ethereum is not going to give you a ROI on a rig at this time. That being said, like most crypto, while we plan for the now (purchase rigs when its high return), the people that have always benifited kept running rigs on different currencies during the best and worst of times. For a long time last year, ethereum, even with low difficulty was not profitable for most people mining it, however that was at a $6-10 USD ethereum price. People that kept investing in power cost to keep the rig running earned 100-190+ ethereum from July of 2016 through March of 2017, where the huge rise paid huge dividends on a 2500.00 rig.
Moral to the story is mining is an activity where you are exchanging power/hardware for a token, of which could at some point become very valuable as normal supply/demand dynamics work/play. There is always a risk it could go down substanially and/or a improvement plan (EIP for Ethereum, BIP for Bitcoin) can make an alteration that changes the proverbial game, however, history has shown nomatter what, value has increased for most all of the active developed cryptocurrencies.
Litecoin, Dash, Ethereum, Bitcoin, Monero, Namecoin, ...essentially every crypto has benefited from the continued exposure and advancement of the sector. Mining is a way to hedge that growth and be left with something tangible (hardware) that still remains to be worth something (GPU's / hardware still has other uses, there by can be solid to recoup some of the cost)
Congratulations @bitsbetrippin!
Your post was mentioned in my hit parade in the following category:
I'm in Michigan!
I have a question about the M.2 slot. I'm using Asrock Z270 Killer SLI that has two M.2 slots and after connecting the GPU through the adapter it does see the card in Windows and miner also sees it, but if I start mining it always crashing within 1-2 mins. By crashing I mean it start showing errors in Claymore (lot of red text) where it shows all the cards failing and restarting the miner. If I do not use M.2 the rest of the setup is stable.
Is there anything that I need to look for it BIOS, or am I out of luck and it will not work?
It would be great if you can point me where to look. Thanks!
What we have found is if you reseat the M.2 PCIe adaptor, but when you start screwing it back down, screw it down only a few turns. Try to make it as horizontal as possible with that slot. Then try again. Let us know how it goes.
Alright! Thanks for the idea! I'll try to play with it again.
Pls post the discord invite link
Discord Chat is linked on our website www.bitsbetrippin.com
outstading post i liked bitsbetrripin channel
Thanks!
What is the difference between POW and POS? how is it related to the difficulty issue?
Thank you....newbie in crypto
POS does not use hardware for mining, it's more similar to having money locked up in a wallet that generates interest. So if ETH changes to completely to POS there will be no POW (no more hardware mining).
If so, who is going to do the necessary transaction?
Quote from ETH wiki:
In general, a proof of stake algorithm looks as follows. The blockchain keeps track of a set of validators, and anyone who holds the blockchain's base cryptocurrency (in Ethereum's case, ether) can become a validator by sending a special type of transaction that locks up their ether into a deposit. The process of creating and agreeing to new blocks is then done through a consensus algorithm that all current validators can participate in.
You can read the full article here: https://github.com/ethereum/wiki/wiki/Proof-of-Stake-FAQ