Bitcoin price suddenly surges to 3-year high

[P4-630]

Hut 8 Mining Corp, one of the oldest crypto mining companies has placed a hefty order with Nvidia. The company plans to spend USD 30 million on new GPUs that the company plans to deploy for cryptocurrency mining.

Nvidia's CMP cards are specifically for this application. Nvidia expects to be able to deliver the company's order from May 2021. It is not clear exactly which cards will be delivered. Hut 8 expects the new cards to offer an additional capacity of 1,600 Gigahash.

Miningbedrijf koopt voor 30 miljoen USD Nvidia CMP-kaarten

Hut 8 Mining Corp, een van de oudste bedrijven op het gebied van cryptomining heeft een flinke order geplaatst bij Nvidia. Het bedrijf is van plan 30 mi...

nl.hardware.info

 

[sepheronx]

Saw this

https://www.reddit.com/r/gpumining/comments/mgxhnk
So a mining mobo using socket 2011 that bypasses Nvidia's limitation for RTX 3060.

 

[flatty]

Which 3060's this days? LOL
You should kill somebody to get one or break a bank )

 

[sepheronx]

Which 3060's this days? LOL
You should kill somebody to get one or break a bank )

Well, yes, it is hard to get one but that isn't the point. The point is that some creative minds in China were quick at finding a hardware alternative.

I myself would be interested in this board but can't find any listings yet on it as this was seen in Vietnam.

 

[Space Lynx]

musk is accumulating as much bitcoin as he can.. he is stashing it.. there is no need to use it as a currency.. as yet the dollar does fine..

he can borrow as much day to day dollars as he needs.. the idea is a simple one.. stash the bitcoin and watch it go up in value.. borrow the dollars as and when needed.. he has a limitless supply of dollars..



that is exactly how paypal started.. i am old enough to remember that.. you had to deposit money into paypal before you could send it to someone else..

trog

Elon is slow to the game. CEO of Twitter been maxing out his allowed Bitcoin transactions from Fiat to BTC for like 5 years now, every week he said on Joe Rogan podcast he maxes out what he is allowed to switch over. lol

 

[flatty]

Big guys contest )

 

[sepheronx]

Even BlackRock has made big investments in BTC.

 

[trog100]

i have been watching bitcoin going sideways around 59K.. it has to make a move past that 60K mark soon.. he he

eth is at 1950.. i just bought another ebay asus 3070 card.. if i was swapping things out for cash i could now buy a couple of 3070 cards every month from my mining pay out..

as it is i just have to pay the leccy bill and watch my bitcoin stash accumulate..

how long this will continue i havnt a clue but its nice while it lasts..

when the next 3070 arrives i will be looking at 675 m/sh or around 80 dollars a day at current levels..

trog

 

[Space Lynx]

i have been watching bitcoin going sideways around 59K.. it has to make a move past that 60K mark soon.. he he

eth is at 1950.. i just bought another ebay asus 3070 card.. if i was swapping things out for cash i could now buy a couple of 3070 cards every month from my mining pay out..

as it is i just have to pay the leccy bill and watch my bitcoin stash accumulate..

how long this will continue i havnt a clue but its nice while it lasts..

when the next 3070 arrives i will be looking at 675 m/sh or around 80 dollars a day at current levels..

trog

I just hope you are not making mistake of converting it to BTC to early. I feel like ETH will double/triple in value (especially if your using the new fancy tech wallets ETH has that support NFT's) - I would hoddle the ETH, then sell to BTC when its doubled in price almost.

my 6800 just won't make enough money even if it did double. i think maybe i'd get 2 grand total if i mined 20 hours a day for 365 days and that is only if it doubles on top of that and I hoddled the entire time. makes sense for people to farm it like you with multiple gpu's if you have means to do so. for my particular setup though i think its best if i just dont bother sadly.

 

[trog100]

I just hope you are not making mistake of converting it to BTC to early. I feel like ETH will double/triple in value (especially if your using the new fancy tech wallets ETH has that support NFT's) - I would hoddle the ETH, then sell to BTC when its doubled in price almost.

my 6800 just won't make enough money even if it did double. i think maybe i'd get 2 grand total if i mined 20 hours a day for 365 days and that is only if it doubles on top of that and I hoddled the entire time. makes sense for people to farm it like you with multiple gpu's if you have means to do so. for my particular setup though i think its best if i just dont bother sadly.

since i regained interest in crypto about three months back i have spent about £8000 on hardware to mine with.. i am lazy i just use nicehash which as you know mines in eth and then converts to bitcoin..

i am lucky i can afford to buy the hardware at current prices.. the bottom line being you have to have the hardware before you can make use of it..

i do like eth going up.. it buys more bitcoin..

trog

 

[sepheronx]

since i regained interest in crypto about three months back i have spent about £8000 on hardware to mine with.. i am lazy i just use nicehash which as you know mines in eth and then converts to bitcoin..

i am lucky i can afford to buy the hardware at current prices.. the bottom line being you have to have the hardware before you can make use of it..

i do like eth going up.. it buys more bitcoin..

trog

Yeah, I'm at $30 cad a day with 3 RTX 3070's and a Rx 6800xt. I got the RX mostly to game but I'm letting it earn for me as well when I'm not.

 

[Space Lynx]

Yeah, I'm at $30 cad a day with 3 RTX 3070's and a Rx 6800xt. I got the RX mostly to game but I'm letting it earn for me as well when I'm not.

what do you use? phoenixminer or nice hash? or something else?

 

[sepheronx]

what do you use? phoenixminer or nice hash? or something else?

Nicehash.

Still working on a bot to buy me 1 3080 (only way to buy one to bypass other bots) and will add it to nicehash. I'll be taking my 6800xt off and mine something like Ravencoin or Conflux to diversify.

If you do plan to use nicehash, word of advice (for anyone), make sure you have coinbase and directly withdraw to it at least every month at latest. Otherwise it's a pain in the rear to get your BTC from them. I then move it to shakepay (as I'm Canadian) to sell. But I'm holding now my BTC waiting for it to increase.

 

[trog100]

well.. bitcoin still seems stuck at 59 K and eth is at 2100..

i have sold all my 8 x 1070 cards and replaced them with a mix of 3070 and 3060ti cards plus one 3080 card.. my rig now has 7 cards instead of 8.. i have left an open slot in front of the 3080 card to help keep it cooler..

together with my two desktop machines i am now producing 730 m/sh.. i am using nicehash and simply letting my bitcoin stash build up..

until bitcoin starts to move up again its all got a bit boring.. he he

trog

 

[ZenZimZaliben]

until bitcoin starts to move up again its all got an bit boring.. he he

730 m/sh is pretty nice! Exciting can also just be doing nothing and getting paid for it.

 

[moproblems99]

i am in the UK.. in the US the stimulus checks are needed by some but a free cash handouts to others.. those that need it are struggling like the poor always do but to others its just extra cash to spend..

Hey, don't take away my $1400 stimulus that I paid $6237.49 for once my taxes go up to pay for it.

 

[R-T-B]

Saw this

https://www.reddit.com/r/gpumining/comments/mgxhnk
So a mining mobo using socket 2011 that bypasses Nvidia's limitation for RTX 3060.

Only the pcie slot detection. They'll still need hdmi dummy plugs. It drives up cost which makes 3060 less appealing at least.

 

[trog100]

well bitcoin has finally done it.. its now past 61K and eth is at or near 2200..

we will see what happens next..

trog

 

[ZenZimZaliben]

XRP at 1.40. Wow. Purchased around $.20 nearly 1 year ago. Nice return.

 

[trog100]

i keep having depressing thoughts.. three years back when the dollar return on my mining machine got low i switched it off... now if i had left it running during the slump period.. the coin mined over those thee years would now be worth maybe 100K... a loss of over 30K per year.. ouch..

trog

 

[boulard83]

XRP at 1.40. Wow. Purchased around $.20 nearly 1 year ago. Nice return.

I'm sorry but you are looking at the wrong metric and in fact "lost money".

~1y ago XRP was at ~2700sat, right now XRP is at ~2300sat. So lets say you bought 1000 XRP, that's ~0.027 BTC, those XRP are today worth ~0.023 BTC. You should have hodl BTC ...

 

[Space Lynx]

XRP at 1.40. Wow. Purchased around $.20 nearly 1 year ago. Nice return.

I remember when XRP hit like $3 briefly... those were wild times, I regret not investing in a diverse portfolio... even a $200 investment when it was 9 cents to now would have been a nice profit.

 

[ZenZimZaliben]

I'm sorry but you are looking at the wrong metric and in fact "lost money".

~1y ago XRP was at ~2700sat, right now XRP is at ~2300sat. So lets say you bought 1000 XRP, that's ~0.027 BTC, those XRP are today worth ~0.023 BTC. You should have hodl BTC ...

LOL. I did HODL all my BTC, ETH and every other altcoin I purchased. I have a diverse portfolio with BTC #1 by far. But I couldn't see the future so spread it out. I never thought BTC would hit 60k and figured who knows which alt coin might be the new BTC in the future. I have been in crypto since about 2008'ish. I mined my first BTC on a crappy old laptop(at the time it was still crap) when the complexity was nothing compared to today.

 

[Space Lynx]

LOL. I did HODL all my BTC, ETH and every other altcoin I purchased. I have a diverse portfolio with BTC #1 by far. But I couldn't see the future so spread it out. I never thought BTC would hit 60k and figured who knows which alt coin might be the new BTC in the future. I have been in crypto since about 2008'ish. I mined my first BTC on a crappy old laptop(at the time it was still crap) when the complexity was nothing compared to today.

try to ask yourself how much money do you really need to be happy in life. if you can cash out say 40% now and still keep your 60% invested, and use that 40% to buy say a small house/car in cash in full, I'd say do that now - as that is something you can't lose to inflation or a coin crashing. if you can't, then gauge where that line is for you - there is a basic level of financial stability that increases happiness overall tenfold though. like if you can do that 40% thing - and only have to work a part time job the rest of your life, that wouldn't be such a bad existence.

plus you have the other 60% to hodl to the moon if you ever want to devour luxuries someday. main thing is cash out when you reach that basic level though.

 

[ZenZimZaliben]

try to ask yourself how much money do you really need to be happy in life. if you can cash out say 40% now and still keep your 60% invested, and use that 40% to buy say a small house/car in cash in full, I'd say do that now - as that is something you can't lose to inflation or a coin crashing. if you can't, then gauge where that line is for you - there is a basic level of financial stability that increases happiness overall tenfold though. like if you can do that 40% thing - and only have to work a part time job the rest of your life, that wouldn't be such a bad existence.

plus you have the other 60% to hodl to the moon if you ever want to devour luxuries someday. main thing is cash out when you reach that basic level though.

Let me tell you the otherside of that coin. I did spend BTC, about 5 of them. For a healthy down payment on a new car, a nice car 5BTC @ 10k each. Now I totally regret that. While the car was nice, it was not 300k nice. Plus I had to pay taxes on that "realized" gain. Never AGAIN...or until I am ready to retire.