Cryptocurrencies.. whos in it?

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Re: Cryptocurrencies.. whos in it?

Postby vlad01 » Wed Jan 10, 2018 10:07 pm

I'm sure it will, its only really got started in terms of global recognition in the last year and a half so it should go alright for the next several years, some stage it might crash somewhat, but only if there is majority big time holders but as far as I know that's unlikely as most large holders long sold their shares at the beginnings where it was cheap and steady for long time so its pretty well mixed up and lots of users now.
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Re: Cryptocurrencies.. whos in it?

Postby Charlescrown » Thu Jan 11, 2018 7:16 am

So why is capitol gains different with crypto currency compared to everything else. With me they add the gain onto your income and tax it at the highest rate so the selling is best left to a year you don't work. You can put some of the money into a super fund but have to pat 15% tax for that transaction. This can help to reduce your income for that year. The tax is at the full rate if sold within 2 years (real estate) and drops to half that after that. If you look at bitcoin it's dropped $2000 in the last 3 weeks.

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Re: Cryptocurrencies.. whos in it?

Postby L67PSI » Thu Jan 11, 2018 11:18 pm

What are some of the up and coming currencies that are worth mining?

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Re: Cryptocurrencies.. whos in it?

Postby Tazzi » Fri Jan 12, 2018 10:31 am

antus wrote:I was talking a work mate about how wasteful cryptocoin mineing is the other day and came up with an alternative idea. It would be good if the coins earnt interest, that is you have one coin and every year each coin appreciates by 5% or whatever. Then there is no mining, and no power wastage. But if you want such a coin, you need to buy in. You cant mine. But then mining is just converting money in the form of hardware and power in to coins at great environmental cost. I guess its just a gimmick.


There are some coins like that. Ahhhh.. theres a special name for it.. I literally only read about that a couple days ago. Theres another principle which is similar, where you setup a 'hub' which allows transactions to flow through quicker around the world. Theres no mining, it just sits there and is rewarded with coins for a percentage of transactions that it helps with (Along that lines).

It is kinda fucked when you think about it with how much power must be wasted around the world for mining. But, guess its no different from entire warehouses running servers 24/7 for websites, computing ect.

vlad01 wrote:I concur on the GPU prices, they are fucked.

The hell I'm paying 1500 for a outdated 1080 Ti

I picked up a 1080TI for $980 through scorptec. After GST is claimed, its actually under 900.

There are alot of overpriced 1080TIs though. Some with low base clocks, shit cooling yet more expensive as its limited edition thing :?

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Re: Cryptocurrencies.. whos in it?

Postby Tazzi » Fri Jan 12, 2018 10:48 am

L67PSI wrote:What are some of the up and coming currencies that are worth mining?

Hard to say.

Theres two kinds of miners:
1) The no risk, stick to the main coins that always give a similar return each day (Zencash, Zcash, ect). These coins go up and down a bit, but never anything too drastic.

2) Non profitable/risk, this is starting with a coin early on, where it usually isnt very profitable mining as its price is so cheap and not being used too much yet. Generally this kind of option lets you mine heaps of coins extremely quick.

For example, I was mining one called intensecoin which was 0.012 when I started, over the past few weeks, it rose to 0.098.. so basically everything I mined was 9x its normal value. Its value has dropped as of right now, but will go back up again, just the normal trend of coins as people cash out at the new 'peak', and the cycle repeats.

I wont cash out on that till its probably upwards of 0.90c (Assuming it gets there). Alternatively, the coin project could fail, and price flops. So its a matter of finding a coin project that your interested in and think has potential, and get in on it early.

Ill be moving back to mining one of the more constant coins in the coming week or so.

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Re: Cryptocurrencies.. whos in it?

Postby antus » Fri Jan 12, 2018 12:37 pm

Have you read the FAQ? For lots of information and links to significant threads see here: viewtopic.php?f=7&t=1396

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Re: Cryptocurrencies.. whos in it?

Postby L67PSI » Fri Jan 12, 2018 1:30 pm

For a newbie to this field. What would be a reasonable rig to mine with? What and how many GPU's would you suggest?

I had a look at the whattomine.com page. but was hard to make sense of it all. Any tips for a beginner?

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Re: Cryptocurrencies.. whos in it?

Postby antus » Fri Jan 12, 2018 2:34 pm

Well my probably not so popular tip would be dont. You have no chance of mining bitcoin for profit and for other crypto coins its generally a pain in the ass to convert it to anything else due to the need for accounts with exchanges etc. It certainly can be done, but just know the time requirements to figure out what your doing and be prepared to need to invest time to stay on top of the game as things change. If its your area of interest go for it. But I would not recommend doing it just for the money. Of course thats just my point of view though.
Have you read the FAQ? For lots of information and links to significant threads see here: viewtopic.php?f=7&t=1396

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Re: Cryptocurrencies.. whos in it?

Postby vlad01 » Fri Jan 12, 2018 6:54 pm

As far as I have researched, vega 64 is best for mining of GPU friendly crypto like etherium and etherium classic. Also from what I have read, many people under volt the vega and overclock it. less heat and better overclocks by under than over volting the GPU. RTG did a rather shite job and the partners getting the specs of the GPU correct. For my under standing due to short supply of the chips and low yields and vague parameter specs from RTG to the partners nearly all the partners just over volted them too much to guarantee out of box specs with stability, but this limited over clockability due to TDPs being very high and probably leakage issues in the transistors as well. These cards are not the best for gaming but are killer compute cards and out perform the nvidia much more expensive and faster graphics cards.

My current CPU exhibits this sort of behavior. It needed to be under volted to overclock it and be stable. I could not even get stability with line load calibration on and stock clock as the line load calibration nudged it up to spec voltage where it was hard locking, line load off the voltage sags to a rock solid stability island of 1.25v instead of the spec 1.35v.
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Re: Cryptocurrencies.. whos in it?

Postby Tazzi » Sat Jan 13, 2018 12:31 am

Antus is spot on. Its something that should be done for a bit of fun and interest at first. I only did it because the equipment was sitting there idle doing sweet f'all.

The whole converting situation was annoying at first, its one of those things that I had to try out a few different options. Currently I send the coins to a market place like cryptopia, convert it to one of the bigger coins, then send it to somewhere like coinspot to convert to aussie dollars. Its all a learning curve from start to finish which Iv been doing for a bit of fun in off times.

Vlad, yeah, those vega cards are sold out worldwide unless paying an unreal amount. People praise them pretty highly.

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