Anybody here into this stuff? I've begun paying attention recently, and so near as I can tell, all the various altcoins out there are half stock/half currency. You can buy/sell/trade them like stock, and there are some pretty big players accepting them as payment now these days.

Anyone here trade them/mine them/buy hash power, anything?

I just built a small proof of concept rig and joined it to the nicehash network to sell the computing power. So far, so good.

wait, you can sell the use of your computer? Tell me more.

security risks???

I've done the electrical for a couple miners. Between the CPU power and the additional room style air-conditioners you are talking about $100+ per month in electric to run them. The computers were built specifically for mining I think one guys were $5-600 each and the other was slightly more IIRC. Both had about $10k in startup costs. Both were confident they'd make money doing it. I wish I remembered their names so I could follow up and see if they made any money.

Specific to bitcoins, but same principles apply. The money to be made was done long ago.

quote:

Originally posted by radioman:
wait, you can sell the use of your computer? Tell me more.

security risks???

You're not selling the "use" of it, but rather selling the raw processing power for work to be done. They can't "do" anything on your computer, you won't see the mouse moving or some nonsense. You are still free to use it as you normally do. Just make sure you don't ever turn it off. Profitability depends on the particular setup. For example, my surface pro 4 with an i5 processor was worth 4 cents per day. However, the new little starter rig I just built to proof this out is paying $3.33/day. That doesn't sound like much, I know, but it's a proof of concept. The more high-paying setups have very high end graphics cards in them, and usually multiple ones, at that. Right now Nvidia's flagship card pays about $7/day all by itself, and you can fit 8 of them into a single pc. Accounting for my power cost, that's a little over $20k/yr.

No security concerns. Especially not if you build a dedicated rig to do it. Lol

quote:

Originally posted by Skins2881:
I've done the electrical for a couple miners. Between the CPU power and the additional room style air-conditioners you are talking about $100+ per month in electric to run them. The computers were built specifically for mining I think one guys were $5-600 each and the other was slightly more IIRC. Both had about $10k in startup costs. Both were confident they'd make money doing it. I wish I remembered their names so I could follow up and see if they made any money.

Specific to bitcoins, but same principles apply. The money to be made was done long ago.

[FLASH_VIDEO]<iframe frameborder="0" height="315" src="https://www.youtube.com/embed/mrtSAgcpack" width="420"></iframe>[/FLASH_VIDEO]

The money made by actually mining for yourself, in bitcoin, was a while ago. That's why I'm looking at selling processing power. The processing power is used for many, many other altcoins. I get paid for it regardless what some idiot thinks he may or may not gain by mining. I just get paid to make sure it doesn't break, basically. Lol

Ethereum is a bug one right now. $100 worth of it 12 months ago is worth over $30k today, and it's still trading very, very cheap (compared to btc).


Residential power cost here is 8.5 cents/kwh, so...

Sounds like a good idea. You get paid cash, they assume risk. I don't know much about how it works nowadays. Maybe a cool way to get paid is 70/30 cash/coins the US$ to cover the outlay and monthly coats plus small profit, the coins in case it takes off like bitcoin. Keeps you invested and hedged. Does anyone offer such arrangements?

Me and Matty B are using this rig to mine with. Hopefully we don't start WWIII.

quote:

Originally posted by Skins2881:
Sounds like a good idea. You get paid cash, they assume risk. I don't know much about how it works nowadays. Maybe a cool way to get paid is 70/30 cash/coins the US$ to cover the outlay and monthly coats plus small profit, the coins in case it takes off like bitcoin. Keeps you invested and hedged. Does anyone offer such arrangements?

Me and Matty B are using this rig to mine with. Hopefully we don't start WWIII.

[FLASH_VIDEO]<iframe frameborder="0" height="315" src="https://www.youtube.com/embed/iRsycWRQrc8" width="420"></iframe>[/FLASH_VIDEO]

Not sure if anyone does. This place pays you in bitcoin, since that is how people pay them for computing power (they are just a broker that resells computing power that they buy from people like me). The wallet I use does instant conversion to fiat currency, so I won't have any holdings in bitcoin directly, it'll all be USD.