What To Mine

I finally understand WhatToMine.com.

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This bit is which video cards you have.  The ones in Red are ATI cards .. the ones in green are NVidia cards.  Well, technically that’s just the chipset, but .. yeah.  You put in how many of them that you have, and you click the button.  Green or Red = on, Gray = not on.

If you hover over the button, you get this:

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The +150/+500 is the tuning you can do in MSI Afterburner:

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You can see the numbers applied .. I’ve also additionally limited power to 50% and temp limit at 60 because I don’t want to burn out my new graphics card…

So you put those numbers in, and then it tells you what it thinks you can do:

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This is where you turn on or off the various algorithms .. for example Ethereum uses Ethash and Monero uses CryptoNight.   Based on the graphics cards selected, it prepopulates the numbers, but you can change those numbers to reflect what you actually get. 

So far its been very accurate – with the tuning in place, i get 29.42 Mh/s for Ethereum, and 680 h/s for Monero (although Monero I get an additional +160 via CPU if I so choose).

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Then, there’s the list of exchanges.  Some exchanges deal in some coins, but not in others, and that narrows down the list of coins ..   join Exchanges to Algorithm.   My favorite exchange, Binance, is not listed.     And then that gives you ..

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  • The Profit is the estimated Profit per day based on mean difficulty and current prices.
  • The % is “as compared to Ethereum”.  The time period has to do with market fluctuations over time … looks like CRC is on a roll right now, so its way more profitable (that usually balances out pretty quick as everybody floods to it and then the algorithm stabilizes).

Looking at used graphics card prices … the break even for a card appears to be in the 7 to 10 month range.   The lifetime of a graphics card .. who knows?  I wouldn’t do it.  Plus proof-of-stake will probably flip a lot of things. 

Visualizing Bitcoin Adventures

I’ve been riding a Bitcoin (and Ethereum) roller coaster for a year .. and its been a fun little diversion.   However, its hard to see the journey .. it feels like I’ve come out ahead, but have I really?

I doodled various (complicated) ways to try to show stuff via a 3D graph .. but when I actually went to play, this 2D version works just as well:

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  • Vertical (down) drops ==  I transferred bitcoin (either to another account, or buying something with bitcoin).
  • To the top-left = I bought bitcoin for USD
  • To the bottom-right = I sold bitcoin for USD (for buying something usually)
  • Note: A similar chart would exist for my Ethereum account.  No, i did not buy a switch for $90, it was more than that.
  • Steep curve vs Shallow curve gives a feeling for price.   buy Steep, sell Shallow is the desire.
  • I could beat myself up .. if only I hadn’t spent the bitcoin, I’d have so much more now…
  • Currently, my experiment is net-positive.  Even if bitcoin goes to $0 right now.

How I created this

  • Download transaction report from Coinbase.   This is a .CSV file, which I then open in excel.
  • Their report has a “Amount” (Column C) which has + for bitcoin added, – for bitcoin removed.
  • Their report has a “Transfer Total” (Column H) .. but it isn’t signed. 
  • Their report also has a Transfer Fee column .. I’m ignoring that for this graph.    I did sum it up, I’ve paid $30 in fees this year.
  • Add a new column, “Signed Transfer Total”   formula is something like “=IF(H27<>0,H27*SIGN(-C27),0)” – to get a signed USD column.  Note that I’m reversing the sign so that a plus in bitcoin is a minus in USD.
  • Add a new column, “USD Balance”, which sums up all the Signed Transfer Total to date.   Something like “=SUM(J$6:J27)”.  For simplicity I added it right next to their bitcoin balance column
  • Grab those two columns and chart it, scatterplot, lines
  • Adjust the vertical size of the graph till you get something that works for you.  

In summary

I do not regret this Bitcoin experiment.

I do hope to leave stuff in Bitcoin, i think it will continue to grow for a while.