LebGeeks

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#351 April 16

yourlocalfbiagent
Member

Re: Bitcoin in Lebanon

yasamoka wrote:
yourlocalfbiagent wrote:
LifeEngineer wrote:

I have near zero info about mining but I have a gaming PC (GTX1080).
The question is "is it worth it mining on my gaming PC say around 16 to 20hrs/day when I'm not gaming?"

hey i have an msi 1060 6gb and  i have been mining on it for the past month at 24-25mh/s (overclocked)and  made around 55 to 60$.
so in my opinion its worth it. also i kow that with nicehash they have something that will boost 1080 hashrate by 50% so check it out on there forums.

Did you factor in power consumption?

for me no, but i ran an online calculator on the 1080 hashrate which is 36.6 mh/s at 128w, at 0.083$ perkwh at lbp rate 12,000 thats about 6.31$ a day in profit with 0.25 cents in power.
do keep in mind that you can also overclock to get more

Last edited by yourlocalfbiagent (April 16)

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#352 April 17

LifeEngineer
Member

Re: Bitcoin in Lebanon

Ok, so any good video/guide, and simple enough, to start mining on a personal PC?

And the important question is where is that money stored and from where / how to retrieve it if our banks don't allow it?

Last edited by LifeEngineer (April 17)

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#353 April 17

yourlocalfbiagent
Member

Re: Bitcoin in Lebanon

well to mine i suggest nicehash if you are mining on only 1 or 2 pcs and not a mining rig since its easy to use and can payout easily and it gives you the money every 4 hours and a min of 1000 satoshis and you can transfer them from nicehash wallet to an external wallet like 50,000 satoshis min to coinbase and 100,000 satoshis to a private wallet directly or do as i do and use the exchange(min 10,000satoshis)and buy xrp and transfer it as it has a smaller min amount of 20.5xrp and a low fee of almost nothing and then transfer it back to any coin you want.

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#354 April 17

yourlocalfbiagent
Member

Re: Bitcoin in Lebanon

i transfer my funds to binance to trade various coins and the nicehash exchange only takes 0.5%fee to convert. and as for the cashing out option you can sell it at various offices in lebanon at low fees of 2% to around 10% depending on the amount and place

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#355 April 20

LifeEngineer
Member

Re: Bitcoin in Lebanon

Is Kryptex viable? I just did an account and started with it. Most websites say it's the easiest and most straight to use requiring zero setup.

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#356 April 20

TheIlluminative
Member

Re: Bitcoin in Lebanon

Sorry for such question, but will mining affect our PC performance? Sounds good with electricity at 1,500 right now.

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#357 April 21

LifeEngineer
Member

Re: Bitcoin in Lebanon

TheIlluminative wrote:

Sorry for such question, but will mining affect our PC performance? Sounds good with electricity at 1,500 right now.

It does use the GPU quite extensively. So yeah it does affect the performance of course. You can't play games and mine at the same time for example.
However, I think you're asking about the long term effect, which is debatable but I think it's safe as long as you're not overheating/overvolting/overclocking too much.

I actually started just yesterday and I'm doing it on stock settings and zero overclocking. I know I'm losing a bit of mining performance there, but I don't want to risk my hardware or even make it stress as I game on it and ruining a GPU (or any other hardware component) nowadays can cost a fortune. It's my sole personal PC after all so no luxury there...

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#358 last month

Nemesis-301
Member

Re: Bitcoin in Lebanon

LifeEngineer wrote:
TheIlluminative wrote:

Sorry for such question, but will mining affect our PC performance? Sounds good with electricity at 1,500 right now.

It does use the GPU quite extensively. So yeah it does affect the performance of course. You can't play games and mine at the same time for example.
However, I think you're asking about the long term effect, which is debatable but I think it's safe as long as you're not overheating/overvolting/overclocking too much.

I actually started just yesterday and I'm doing it on stock settings and zero overclocking. I know I'm losing a bit of mining performance there, but I don't want to risk my hardware or even make it stress as I game on it and ruining a GPU (or any other hardware component) nowadays can cost a fortune. It's my sole personal PC after all so no luxury there...

I totally agree regarding not play games while mining, however overclocking + underclocking is important and safer.

here is my msi gtx 1070 running on stock settings, the temp is around 74C and on hot days reaches around 82C (temp limited by msi) and I'm getting around 25mh/s

https://ibb.co/WyXFnm9

however when I configure it on msi afterburner with these settings (each gpu has different settings)
I get around 27mh/s, plus my gpu runs on lower temps and doesn't go beyond 70C which is better for the long run

https://ibb.co/McPfSjY

And if I want to play it safer, I lower the power limit to 50% so the temp goes down to max 60C, and I still get around 25mh/s, same as the stock settings but way lower temps.
https://ibb.co/mX6D89B

Last edited by Nemesis-301 (last month)

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#359 last month

LifeEngineer
Member

Re: Bitcoin in Lebanon

Nemesis-301 wrote:

I totally agree regarding not play games while mining, however overclocking + underclocking is important and safer.

here is my msi gtx 1070 running on stock settings, the temp is around 74C and on hot days reaches around 82C (temp limited by msi) and I'm getting around 25mh/s

https://ibb.co/WyXFnm9

however when I configure it on msi afterburner with these settings (each gpu has different settings)
I get around 27mh/s, plus my gpu runs on lower temps and doesn't go beyond 70C which is better for the long run

https://ibb.co/McPfSjY

And if I want to play it safer, I lower the power limit to 50% so the temp goes down to max 60C, and I still get around 25mh/s, same as the stock settings but way lower temps.
https://ibb.co/mX6D89B

Those numbers 25MH/s are on NiceHash with that memory tweak thing right?!

I've read and watched about NiceHash for a bit (still new to all this as I said), and it seems some say it's shady being made by a previously convicted guy etc... So I decided not to use but use Kryptex instead, and on my stock GTX1080, I barely reach 20 to 23MH/s.

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#360 last month

Nemesis-301
Member

Re: Bitcoin in Lebanon

yes, I am currently using nicehash however I do plan to send what I've mined to binance in the future.
I would advise you to tweak your gpu accordingly, you can definitely get better mh/s with your card, also I've heard theres an ethlargement program that boost the memory speed for gtx 1080 and 1080ti cards (that use gddr5x), can't use on mine since mine's gddr4

edit: just asked my friend who's using 2 X 1080s to mine, he was getting 25.5mh/s, and after using the program it jumped to 32

Last edited by Nemesis-301 (last month)

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#361 last month

AVOlio
Member

Re: Bitcoin in Lebanon

I'm mining on nicehash

Has anyone noticed lower than usual of his average daily earnings?

I used to make comfortably 4,5$ / day now its less than 3.

It has to do the bitcoin price fluctuation right?

Also, will mining on other platform / miners like hiveos per se, make any difference in earnings per day with the same hardware and the same coin?

Last edited by AVOlio (last month)

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#362 last month

Hybrid
Member

Re: Bitcoin in Lebanon

AVOlio wrote:

I'm mining on nicehash

Has anyone noticed lower than usual of his average daily earnings?

I used to make comfortably 4,5$ / day now its less than 3.

It has to do the bitcoin price fluctuation right?

Also, will mining on other platform / miners like hiveos per se, make any difference in earnings per day with the same hardware and the same coin?

I don't mine, but maybe because btc price went down from 60K to 50K, plus the drop in hashrate cause of china's blackout last week.

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#363 last month

az09za90za
Member

Re: Bitcoin in Lebanon

AVOlio wrote:

I'm mining on nicehash

Has anyone noticed lower than usual of his average daily earnings?

I used to make comfortably 4,5$ / day now its less than 3.

It has to do the bitcoin price fluctuation right?

Also, will mining on other platform / miners like hiveos per se, make any difference in earnings per day with the same hardware and the same coin?

you are most probably mining ETH on your pc , the revenue currently is low due to increasing mining difficulty and low transaction fees, after all, your mining earning are the transaction fees.(so less nb. of transactions and low transaction fees will lower your daily earning)..

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#364 last month

AVOlio
Member

Re: Bitcoin in Lebanon

I'm mining bitcoin, or milli bitcoin, as per nicehash.

But am I really? Any people experienced with nice hash can confirm?

I've read many places online, that even though nicehash says that I'm mining bitcoin, in fact I'm not, I'm just renting out my rigs hashing power to other people and getting my earnings that way and Im not actually mining any coins.

Last edited by AVOlio (last month)

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#365 last month

Nemesis-301
Member

Re: Bitcoin in Lebanon

AVOlio wrote:

I'm mining bitcoin, or milli bitcoin, as per nicehash.

But am I really? Any people experienced with nice hash can confirm?

I've read many places online, that even though nicehash says that I'm mining bitcoin, in fact I'm not, I'm just renting out my rigs hashing power to other people and getting my earnings that way and Im not actually mining any coins.

Nicehash automatically lets you mine the most profitable coin which i think is currently ethereum, and it pays you in btc.
You can just exchange the btc you make to other cryptos on their website once your balance reaches 0.0001 btc (minimum trade amount)

Last edited by Nemesis-301 (last month)

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#366 last month

deadlee
Member

Re: Bitcoin in Lebanon

so.. i've been mining for about 3 months now, i don't use nicehash, altho it's nice if you want something simple and easy, but they take a small fee, personally prefer not having a middle man so i mine ethereum using t-rex miner, the benefit of nicehash is that it mines the most valuable crypto at the time in exchange for a small fee, ethereum has been the most valuable crypto for most of the last 2 months i've been mining, so makes no sense for me to use nicehash, here's a quick and easy guide to get into it:

1. get a wallet, safest being a hardware wallet( not cheap or easy to get in lebanon but worth it if you are planning to invest into it), second best is a desktop wallet (i use MyCrypto), not a fan of phone app wallets but i guess they are way more convenient.

2. choose your miner, as already said, nicehash is easy and simple to use, benefit being they will choose the crypto to mine for you and pay you in btc, but if you want my advice, just mine straight ethereum(for now), you can check daily on whattomine.com to see what's the most valuable coin, if not using nicehash, the best mining software for you will depend on your card and coin you choose, i am mining ethereum with gtx 1060 and gtx 1070 ti cards, so i chose t-rex, very simple to use, download, enter your wallet address and pool you want to use

3. choosing a pool, now unless you have a bunch of asic miners or an ungodly amount of cards laying around, mining solo is not recommended so it's best to join a mining pool, you can use poolwatch.io to pick one, it's a little tricky, the website will show you pools sorted by hashrate, high hashrate also means higher difficulty, so it's best to ignore the first one or two pools you see in the list (it's also better for decentralization, the whole point of crypto, if a pool has over 51% of the hashrate power you risk the coin being hit with a 51% attack), obviously you also take into account things like server location and fee, pick a close server because the better your connection to the server the less stale shares you will have.

that's all you need for very basic knowledge of how to start mining crypto, obviously i can go on but i rather not overwhelm any new comer to this field, if you want more info there's a vast sea of resources available on the internet, and i do recommend you inform yourself before you do any financial investments. godspeed fellow miners.

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#367 last month

Hybrid
Member

Re: Bitcoin in Lebanon

I just have a question, how do you guys mine with all the powercuts? You have a UPS for internet and pc and you mine on power generators as well?

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#368 last month

deadlee
Member

Re: Bitcoin in Lebanon

i mean.. you should have a ups already anyways? my ups lasts around 30min which is ample time, but even for normal non mining use you need a ups in lebanon

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#369 last month

M03
Member

Re: Bitcoin in Lebanon

DOGE hodlers

So who's holding? and buying the dip?

I literally had the chance to sell at 0.7 but I didn't because I believe it will rocket eventually.

Also what are your "sincere" and not "trading" thoughts on Barry Silbert's tweet?
Personally I believe it's just promoting BTC for the rich to become richer.
Some of those whom have missed the train when BTC was 4k-8k or even lower are investing in bitcoin now not because it's going to be a global virtual payment method across the internet (specifically merchandise and other supply websites) but thinking that they're on the "safe" side inwhich there's a small chance that BTC will massively dump and their money/investments will be safe (no i'm not talking about whales, because non of us are "whales") so i'm thinking small.

When you get to pay something in general i don't think it's audible nor visually comforting to pay something in floats (numbers) such as: 0.01btc for a phone or anything really. I personally and this is my own opinion that this is not "the future" of payments (i mean the idea of paying in floats! not BTC itself)

So it would makes some sense to me that if DOGE goes to $1 or LITERALLY any other coin/token that is equivalent can and would allow people to interact with the token/coin more comfortably without getting confused. Example: "I'm paying 0.02btc for an iphone!" it does sound not too much in terms of numbers right? I'm sure those whom have bigger brains understand what i mean.

Also what are your thoughts on SNL earlier? I personally enjoyed it and wanted more tbh! my favorite sketches were:

- Weekend Update
- Murder Durdur
- Chad on Mars
- Post-Quarantine Conversations

They were hella funny!

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#370 last month

Hybrid
Member

Re: Bitcoin in Lebanon

Trading doge absolutely, investing no. At the end of the day doge has unlimited supply, and 3 wallets hold half of the available doge. Same goes for Shiba and safemoon. Just couple of weeks ago, UNI would show you a huge message to proceed with caution when buying Shiba.

I believe the meme coins are a great way to bring new money into the market, specially from people who just heard about it in the news and have no idea what or how crypto works. When or if  the alt season is over and the market is bearish, doge and shiba will be the first to fall.

As for btc floating numbers, I do agree it sounds annoying, but you can calculate that in sats, eventually wallets and people will be dealing with sats instead of btc.

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#371 last month

deadlee
Member

Re: Bitcoin in Lebanon

if you're seriously hodling dodge.. i'm sorry i don't know what to say, maybe do a bit more research and invest in an actual useful coin like ethereum or polkadot, even monero is useful because of the extremely low transaction fees, but who am i to tell you what to do with your money.

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#372 last month

AVOlio
Member

Re: Bitcoin in Lebanon

I know there's a lot of telegram / whatsapp groups out there about crypto currency in general as well as  selling / trading.

But what do you guys think if we make a private group for us the Lebgeeks community, say on telegram due to more privacy, and I think we will be more comfortable discussing crypto in general and even buying / selling / trading amongst each other.

EDIT:

After a couple of members PM me about the group, I went ahead and created it.
Whomever is interested in joining, kindly PM me for the invitation link.
It is preferable to put your telegram account the same as your name here if you don't have one already.

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#373 last month

samer
Admin

Re: Bitcoin in Lebanon

Feel free to start such a group, but please do not associate it with LebGeeks or advertise it here (apart from the post above).
For those interested, contact AVOlio via PM.

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#374 4 weeks ago

Tech Guru
Member

Re: Bitcoin in Lebanon

All new shipments will be a gamble game now. Only 3090 is out of risk. They will be forced to use a driver or the graphic card will stop with no roll back like the 3060 now. This is applicable no none LHR variants.

Source:

https://www.ign.com/articles/nvidia-alt … e=facebook

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#375 4 weeks ago

Scode99
Member

Re: Bitcoin in Lebanon

Hello guys we own a Collision repair and a Paint Booth Garage, Thinking of putting ads online that we accept crypto as an alternative payment. Maybe it will attract people, What do you guys think?

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