What are you GPU Mining now? January 2024

💡Tryout HIVEOS Entirely Free:

[Music] [Applause] [Music] [Applause] [Music] [Music] [Music] you [Music] [Music] [Music] yeah [Music] [Music] h [Music] [Music] [Music] yeah [Music] [Music] [Applause] oh [Music] [Music] hello good morning or good afternoon for probably most of you first thing RPM will say I'm sorry I'm so sick I'm not sick anymore jock MC Miner no completely completely healed no more coughing welcome welcome welcome Mike The Miner what's up smokey Dan promises promises we all know we only only be for USA and Canada as no love for UK and EU dude Smokey Dan you know what you're not wrong Daniel Porter might get fired for watching RPM stream at work who cares don't do that don't watch streams at work glad you're feeling better RPM Scott Sheffield thank you Scott Sheffield Mr Sheffield you're the only one that cares about me the only one everyone else can suck it next level Tech aunda Matata what's up man mine Capital Lune break nice work lurk red jasper Kane what's up man all track all track every time I see your name the s19 J Pro uh keeps looking at me Krypto pounder you are banned it's a pirate what's up all right so what's on the table today what what what are we what are we what are we talking about what are we what are we going to look at today mine everything wait what's going on with Etc oh uh it's it it it it's a spiral hard Fork it there's no reward there's no reward reduction so so this is nothing to be worried about if you're mining ATC at this point in time uh it's just for the node operators the mining pools the yeah people that run the core wallets maybe they also have to update their wallets you got to yeah it's nothing to do with it's it's nothing to do with uh a reward reduction uh the ETC fifth inning will happen in 129 days okay so that will happen uh 2.56 Etc to 2.48 that's that's in uh 29 days so that's that's going to be a that's going to be a fun one yeah y yep y [Music] y Next Level attack grayscale has transferred another 12863 BTC worth over 533 million to coinbase is that to sell or to store what it's a pirate so no algo change uh no it's not a it's not a algo it's not a algo change no uh I'll track don't fret no worries my friend all track no worries all track I would turn it on for you and like run it on your address but I I don't have any more Asic power mine backwards I made a short but about uh not sure I'll say anything else mine Capital nice um I never knew this page existed on mining pools on money pool stats oh uh yeah you just go to uh events calendar right here on the left so when you go to miny stats.

Stream uh here it's it's this website right here and then you just go events calendar and then you can see what's coming up light torium is having a a block reward reduction to 3,000 to 2,000 I never mind this coin Fox decoin 49 days another block havening this is a havening here uh isotop C also have a havening Bitcoin cash okay so Bitcoin cash uh prominent Bitcoin Fork coin here 6.25 to 3.125 so then Bitcoin SV is not too far off and then of course we have Bitcoin the big dog happening in 94 days ooh around there uh the big one is the radiant H having yes the radient one is is a is another big uh momentous uh event for GPU miners yep yep yep so the thought process here I mean everyone knows the reason why you know Bitcoin fundamentally started out with start uh in the in the beginning you know why they implemented you know having and stuff it's to uh it's to um uh have the asset you know depreciate and so supply and demand when you limit the supply uh coming onto the market in theory it should then raise the price uh the price of the asset so Bitcoin for instance so similar pretty much same fundamentals regarding radiant I mean this is going from 50,000 to 25,000 radiant per block so that's yeah that's that's in that's in three months man three more months damn D we got a lot of having coming up in the next like couple four months here couple months Etc Bitcoin radiant that's pretty huge Bitcoin seit Bitcoin SV and Bitcoin cash is uh these are yeah these are big ones as well I mean this affects the overall like profitability for Bitcoin miners you know um thank you Dustin singer for the subscription good sir uh no GP mining you you got to be you got to be nits nuts I'm going to mine radiant for the next 91 days now yeah yeah I mean actually the the radiant yield um is actually amazing right now uh actually I'm going to take that back don't mine radiant okay everyone everyone don't mind it Sha 256d what's the what's the algo for radiant again sha Shaw 512 oh 52 there we go so there's been okay the difficulty of radiant has gone up a bit over the past 3 days not a lot but it's gone up um let's see here RPM now that you me mentioned radiant it's over I mean radiant's at the very pretty much at the very bottom of the profitability list uh when you go to calculators um but on a single 3070 it earns like 158 radiant at the moment rxd hash rate there we go current hash rate of radiant oh it's it's down it's all the way down yeah so good time to mine before the having I mean not Financial advice I mean who knows if if radiant is going to have uh who knows if radiant's going to have the uh oh we didn't check the price I want to see the price watch list oh yeah pigeon coin up 34% today uh radiant radiant here's radiant okay oh radiant is it's going down it's going way down good good time to accumulate that's for sure that is for sure who knows who knows though uh what other what other okay I was you know I was looking at what to Mine and uh not also hash rate.

And actually also minor stat um I wanted to know what was like generally what was like the most profitable coin to mine right now and I think majority like minor stat on a on a 3070 it says pan Pyon whatever you pronounce that um what to Mine on a single 3070 shows Nexa and puran at the top um and then oh DX not too far behind hey oh question actually did you guys have a massive uh issue with DX Mining and am D cards B Jang goes 12 ter hash of unknown hash rate on rxd dropped off the network couple days ago oh Bango nice uh that makes sense yeah uh yep yep yep yep oh oh yeah oh oh yeah okay so January 13th radiant hash rate was 50 terahash and then as we go down down uh we go down here let's see okay no no no no past 7 days it's only gone down like four terahash where is the 12 terahash drop off all right maybe you're talking gigahash yeah there's been some of these pools that are have massive swings and hash rate going off and on my radon 7s were doing 200 to 250 Kill is a pirate which leave my DX on DX on radon sens now that that I need to try that I need to try um got off early and caught the stream crypti what's up bro what's up man smash the like Bros 177 watching 48 likes welcome to the live stream we're just is talking about GPU mining today anyone that asks me an an Asic question will be banned okay any Asic question it will be it will be handled all right DX is is that really the badly constructed ad you know quantum computers you know blockchain but do you know both hey hey hey that hey the ad is hey it's not badly constructed hey it's a good ad come on come on now come on now um okay uh okay so we looked at what to Mine and then minor stat I want to see what has.no showed and actually I don't know if you guys have noticed but yeah over the past couple weeks I mean the profitability of GP money has been going down um actually one thing I oh gem link is the mo oh dude okay oh these are all like okay zash whoa anyone whoa look at this 7980 a day what is this I've never minded gem link I've never minded Chinet this sounds very for some reason this sounds very racist to me I don't know why uh neoa wow neoa wow okay um beam okay chor all right a eternity conflux hypra nice has narai Nexa okay pin doesn't pin at the very bottom here so like you go to what to Mine It shows Nexa and pan at the top you go to minor stat it shows pan and nice hash kapow at the top and then you go to hash rate.

And it doesn't show appear in or NEX at the top but it shows gem link Chinet ni Nexa neoa beam you know all these other coins to be more profitable that's uh that's pretty funny that's that's interesting that's interesting um um I'm feeling uh the technicals what's up man technicals welcome to the chat Stephen you are banned you are banned uh the technicals feeling the same about CPUs nobody told me I needed to I needed a brain to CPU M uh the technicals uh I'm with you I'm with you man I I'm I I don't know anything about CPU I mean I've done it before in the past but I I am not like I don't know how to optimize my uh optimize my CPUs like dude 59 50x almost $2 in Revenue a day that's nuts man that's that's like hitting up 30 40 80 or something 4090 crazy uh yeah uh okay no more CPU talk I I don't want anyone to get in the CPU mining all right no no getting into the CPU mining only I can get into it I am currently needing to turn on my CPUs so don't even don't don't get into CPU mining for the love of God game is Spokey Dan we can all learn together red that's right man that that's right we're going to learn together we're I'm going to find out I'm going to find I'm going to find out a lot of stuff tomorrow when I'm building my uh 59 50x uh rigs tomorrow I got like six of them to build so that'll be that'll be either fun or a nightmare or a headache all all three all three uh let's see in the CH technicals what's up man technicals I should have I think I picked the worst CPU to try to optimize should have started smaller okay no more CPU talk no no no no CPU talk is fine here GPU CPU is fine here Asic is not fine today I know a lot of people don't like asex so um fire right I had my first bad CPU the other day I never had one go bad but lost a 5950 X in my main rig for no reason Gary garrettson oh no oh no um uh Cody Johnson thanks to the mining King I got my AMD cards super efficient on Al got my 5700 XTS ripping on on alium 690 to 700 megahash at 60 to 65 Watts nice oh I have have a lot of 5700 XTS right now they're actually on neoa all my all my 5700 XTS are on neoa uh but you said yours is on alium eh alium yeah what's the hash rate people get here 0.73 gig of a giga has yeah okay yeah 700 69 7 yeah okay Power reported anyone wants but you're you said you're getting 60 something that's even better even better um since we're talking money Scott Sheffield you're no V uh let's see here $490 cost $2,500 and to make $2 while 5950 X cost 400 and uh to do $2 per day uh truck farouche you are completely correct uh investing in Old like 5950 X or older you know 3900 X's are 5900 X is it's a it's a smaller investment rather than a yeah $22,500 GPU yeah you're right you're completely right oh my God BP bro oh my God again oh BP ah VP bro bro thank you thank you man H again I know anyone wondering who BP is I'm not going to I'm not going to I'm not going to say who he is but he he's he's he's a he's a accredited extremely accredited investor so if you're wondering where all this money is coming from he's he's completely insane thank you BP you are you are crazy I I don't know what I did to deserve that man but thank you good sir thank you keep on mining he says keep on mining Panda I'm I'm trying man I'm trying I'm trying to I I I really got to turn on all my stuff like I still got stuff I I really need to start getting up and it's been it's been a struggle I just I need to run more 30 amp circuits really 30 amp 240 volt um circuits and I can really start uh I can really start mining um is he an OG red Pand of mining BP uh I uh he's yes I would say he is for sure oh man ah scroll upsky sh schneid what's up man BP you made [Music] him all where's your uh where's your comment thank you BP again BP donated £500 through Super Chat keep on mining Panda thank you BP thank you BP again uh schnees do one CPU rig on your test bench at a time uh take good notes and once it's done slap a Pico on it and put it on a table with the rest then rinse repeat sticking to the same model helps uh snides you're right um shes schneid shid if you watched my yeah you know my the video I just released regarding my like I'm getting up a couple of the uh CPU mining uh rigs that I got up all three of those like the 15 you know what let's just go to it oh no I'm showing you my farm oh God uh uh uh uh okay there you go you guys didn't see anything you guys saw nothing um okay so um okay so I have a 3700x a thir a 5950 X and then oh my other my 1700 x went down rip um and then I have a uh what's this one 3900x okay I know for a fact that I need to I pretty sure I can lower we have to go in the Bios and lower the voltage a bit more um because they're pulling I think the 3900x is pulling like 160 Watts or something stupid I think the 30 uh what do you guys get on your 3900 X's like 120 watts or something 130 Watts at like 13 to 16 Kil aash um uh uh what do you guys say Tech man technicals intensely Ponders how to Pander to be obvious minor can we be best friend you guys get away BP is mine BP is mine all right BP your BP you stay here with me okay you don't go anywhere especially especially not to that hobby minor guy um mine some M something what's up man what's up bro welcome what's up what's up how are you m something what's up man uh 130 Watts sounds about right yeah my 39 head X takes like 160 I don't know why and then my I don't know what and then my my 550x is like 180 or something so I'm pretty sure we got to try to like lower the voltage a lot more so when I start building those rigs tomorrow and Sunday um I mean that's yeah that's what I that's what I going to try to do ah um use ryzen Master to optimize your 5950 X CPUs Frank D um ryzen Master uh do they oh is that do I have to do that in Windows pretty sure I have to do that in Windows right rizon master that that that's that's the overclocking utility tool yeah that's uh for uh in Windows unless there is there like a like a hi OS version um we want smoke though jock Miner damn you my 5900 X runs at 4 GHz at 0.925 volt nice uh schneid yeah just watched it an hour ago 105 Watts on mine wow 105 uh CPU frequency 3600 voltage 975 1,000 make sure to disable Precision boost override it may be more than in one spot in the Bios oh okay I'll check that out uh schneid you just you you come to my live stream tomorrow 9:00 a.m.

Pacific 12: Eastern you you we're going to do that retro mic the 59 5950 XS I sent are optimized for all CPU alos if you modify the settings it will likely crash on other alos retro mic okay okay okay then um all right yeah do all the rest of your 39x do similar tunes for all okay mind something did you find out why that Pico didn't work with that last mobo uh yeah with the 1700 x um I I I I didn't find out but uh people commented okay some people commented uh the reason why here let's go to that video uh here okay here um uh okay Andreas says I have oh he says I have that exact Asus b450 Prime and I had the same issue with the zsx amp the board requires four 12volt lines on the CPU side I resolv this issue by using half of the eight pin connector from the 24 pin Plus 8 Pin from the other half from a six pin to 8 Pin piece uh pin CPU adapter cable the bottom line is that the board requires four 12vt lines and four ground lines by combining the two 12volt lines that come out of the cable including the other two from the PCU rails plus an adapter it looks janky AF but it works and it doesn't heat up if the board allows you to use included cable it's not good news anyway because you're putting four line load on two lines that are wi split at the end so apparently that's the reason that yeah and a couple other people Al also mentioned this pretty much the same thing um mind something um that 1,700 x I think anything lower they CPUs and then it doesn't work on like breakout boards or um something like that anyway this one's off why' it go off damn it um if you are going to do random X you dial them in further you'll want to run 2x 16 gab RAM sticks retro uh retro mic I I'm pretty sure I think all all of these rigs all of these motherboards have 32 gig uh Maybe not maybe 16 okay no I was wrong some of them might have 16 some of them might have 32 27.3 GB free Ram yeah this one has 32 uh how about the 3900 X 3900 X only has 16 ah so I need to buy 32 gig sticks ah ah no Panda I think the mobile has to have multi-pin ground and two neutrals Jason yeah right yeah I I'm I'm not sure um my my resolution on that one uh mind something for to answer your question bro is I just I I just I just used an ATX ATX PSU on it um good afternoon people New England crypto what's up man what's up man ah how's it going how's it going okay um all right so how about that Bitcoin having soon how about that radiant having soon 91 days who's all mining radiant right now well I don't think a lot of people are mining it because according to mining pool stats radiant hash rate has been going down so I don't think anyone's mining radiant uh retro mic 216 DM me later and I I can explain why okay okay can you tell me which megahertz and cl like 16 or 20 whatever uh if you follow steps driv for the basic B you can do the voltage and risen Master ease of use okay I have all my fpgs on rxd suck it you know what retro mic that's great that's great thank you thank you for that um yeah uh interesting thought the person that I forgot who said that but like uh interesting thought like you know a 550x like almost making $2 a day which is like $500 investment and then you think about like a $490 makes almost same price like $2 a day as well if you're if you're looking at profit that is but it's funny it's looking at looking at the hardware that you can invest in it's like at at this time of course it could change the next week you know profit profitability could be wiped out at any moment um if you're looking at profitability um 3600 mahz cl16 is where you need to be cl14 is better but cost a lot more um are you trying it out okay Stephen scroll up read my comment okay Stephen where's your Ste St Steven everyone congratulate new New England crypto on a new addition coming to the family family oh New England crypto congrats did the little one come out congrats bro congratulations I'm over 1.2 million radiant that's that's about I think that's pretty much what I have too uh Bojangles yeah I'm pretty close to there and that's all that's all I need I think a million radiant is good enough probably not ethereum classic the fifth inning all right in 130 days 2.56 to 2.48 Etc per block um uh this is our third I thought we were done the last time uh I can't even I can't even I can't even I can't even think about having another kid having kids is is is hard is definitely hard um BP uh we're still mining Raven to this day have been since day dot day one oh my God BP yes I love it Raven coin wait when's When's uh Raven coins next it's probably not for another what four years I don't know I don't know when ravencoin having is um ravencoin just had one recently right it was 5,000 to 2500 I think 2500 uh Raven coin per block oh Raven coin good old Raven coin Raven coin has not had its has not had its time yet Raven coin I I love Raven coin oh yeah I don't care what anyone says ogre mg to what's up man then don't slip one past the goalie Raven having was uneventful uh yes it was uh um Raven's a power hog yes it is um so um I know Raven Raven coin mining is not profitable right now I know that I know that um so I know a lot of people always you know say Okay Capal mining it's so hot yes yes I mean depending on your environment depending how you're mining depending how your infrastructure is set up yes it it could it could be a a pain in the y um so in that case what you can do and and actually I've been I've been doing this I I normally don't do this type of strategy but I've more so been like open to it privy privy to it because I've essentially been mining like pan right I'm mining puran to trade ogre and then I've just been whenever I get a payout and P to trade ogre I just sell it into the coin I want so I know a lot of people like like doing that some people don't like doing that um depending how you look at it whether or not you're supporting the coin by mining it but in a way you're kind of also supporting the coin because you're you're you're you're you're providing liquidity to to the coin as well so I think you know I think it's a good way uh either way but on a 3070 if I would have Min PN it's like you know I'm getting 43 cents of pn a day right okay I'm not talk not not accounting electricity here um just the the revenue part the whole total here 43 cents so if I were to trade that into ravencoin for instance okay so ravencoin where's ravencoin so ravencoin right now in terms of profits 35 Cent so I could probably eek out another like couple more Raven coin if I were to and plus and another another plus is you're using much less power because you're not mining kapow you're mining purin which is a low core dependent coin it's pretty much you know Asic minable coin uh but purin is low power so not only are you saving power not mining kapow but you're also then you're Mining puran and then you're able to trade that into ravencoin for you know a bit more but at the same time you're also saving the power uh too um very soon Raven going to be 10x yeah I'm waiting for it I'm I'm still waiting for it I I believe ravencoin will come back to its payday at one point but who knows who knows no joke don't put Caspa on trade ogre I see lots of wasting Co yeah yes don't yeah yeah yes Caspa is still an issue on trade ogre yes uh everything else I have has had any issues knock on wood pigeon will M melt faes retro mic why aren't we talking about neoxi it actually has some real world use scenarios uh are you trying it out I love neoa neoa is great I if I could if I could mine neoa straight I am mining neoa on my uh 5700s right now let's see I'll show you guys my farm I don't care anymore NE oh my God my 5700 rig went down a day and 18 hours ago what the hell oh uh whoa uh Travelers travels bro thank you for the gifted memberships Jean Francois has gotten one mind Capital gam of smokey Den power mines crypto and New England you guys got a member nice nice thank [Music] you Travelers travels thank you good sir heck yeah heck yes awesome BTC upskirt law WT hey hey hey hey John English TCH you love it you love [Music] it hey you love it uh Krypto has become a member yeah um we need more Cathy wood oh my God let not bring that up let's not bring that up please H um but yeah uh neoa I love I love the way it's being utilized with games yes I'm a gamer myself so I I support I support neoa 100% y yep yep um Next Level attack Legend has it RPM is one member away from building the 20 GP RI God damn it God damn it next level Tech God how dare you make me read that um retro mic do you still have nerd Gear's discount code or is that no longer a thing I noticed my lifetime discounts also expired uh yes I believe the nerd gears [Music] um uh the nerd gears discount is uh is gone yes um let me check oh why am I logged in here hold on red pandam mining.com I have not I don't even have nerd gears on here oh yeah cuz my my my discount code didn't work uh let's go check nerd gears then um let's go oh new arrivals ooh what's this ooh ooh let's see what do we got here let me buy this before everyone else does 18 tbte Seagate exos Enterprise grade Drive $40 is that cheap oh it's been used a lot 5,000 Plus hours o uh I tried red pen pen and it didn't work yeah I think all the all the I think your nerd gears discount was pen pen no I'm not joking uh Dean yeah it was it was red pen pen yeah I don't think it I don't think it works anymore all right um 140 18 tab not bad I have any gpus let's see only the 3080 12 GB card lhr 494 grade s oh these are like brand new um those drives are cheap per terabyte but lots of hours yeah there's the WD he's got WD Ultra Star Ultra star data center hard drives in stock $140 I bought out their GPU stock the other day retro Mike what did you buy what what did you buy 750 watt super for Nova is $89 um that HDD worked for 32 weeks continuously that's a long time Ravi Sharma red P Panda isn't it better to buy the coins most of us have to shut cards off in the bear anyways depending on electric most are not profitable uh Ravi Sharma yes you're not wrong Ravi Sharma you're not wrong you're not wrong for it's the sad fact the sad reality regarding GPU mining is your electrical cost is the biggest Factor whether or not you are going to mine during the bare Market or not um and as well as if you're in a financial situation where you are able to pay for your electrical bill out of pocket and hold the coins that you think are going to go up you know 5x 10x 100x whatever and you know that's that's the play really um there is going to be a certain sweet spot right I mean generally I think 10 cent per kilow hour is like a sweet spot for most for for not not for most but for those that are GPU mining at 10 cent kilowatt hours like you know breaking even at least or losing you know maybe losing a cent or more which is maybe some people care about maybe some people don't but even if you're losing like you know 10 20% a lot of these coins that you're mining go up like hundreds of percent so the amount that you were losing which you know could be 10 20% of what your electricity bill versus what your your mining profit at the time of Mining and you're holding it anyway so profit doesn't even matter uh it's you're looking at like the exponential uh gain the price appreci ation so when the coin goes up more than couple hundred% 500% 5x you know 10 X's 1,000% it it the amount that you are losing on your electricity bill it doesn't even matter it doesn't it doesn't matter if you're mining let's say you at 11 Cent kilowatt hour and you're losing like you know it's like you're mining at like 14 cents or something you're breaking even and then you know you're holding mining holding and waiting for the coins to price appreciate and look oh the coin let's say you're a mining Elite I can I can provide you I can provide you many examples of mining during the bare Market at break even or worse and then let's say you are mining let's say a lithium okay let's let's just say you let let's say you mining athum yeah sure you could have bought okay buying the coin and Mining the coin okay yeah two two different strategies two different investment strategies I I'm not going to argue uh either one um which one's better I'm going to have to say timing is everything but also if you're doing it as a business there's also benefit in that regard as well with buying the coin you're you're buying the coin with already taxed income either from your full-time job or your other your other ways of making money you're already you're purchasing coins with already taxed income with mining you're able to you know depreciate the hardware and also expense your electricity so in a way you're kind of getting the coins for free if you think about it and you also have the hardware on hand a physical know tangible hard piece of Hardware that you could be you could sell later on in the future especially if it's a GPU so depends how you look at it it really depends how you look at with mining versus buying the coin there's so many different there's there's there's a different strategy it just depends how you look at it I I I I can't so many variables I can't I can't tell you you know I'm a G I'm a crypto Miner I I never buy the coin I've never boughten coin I've always only mined it and that's the way I'm going to do it forever always mining no buying always mining um but yes if you were mining lithium at around you know 6 cents 13 cents cost basis here look lithium went up like let's see here lithium has gone up uh 25 2600% it has gone up 20 600% so you calculate calculate how much you were L okay you calculate how much you were losing on electricity or if you were breaking even then you're you're you're breaking even right like 10 cent kilowatt hour uh that the profit that you were mining back here back mining a lithium was you know breaking even at 10 cent Kow that's great um so now if you were Mining and holding and paying all of that in all that electricity out of pocket and you're holding that Al lithium your alium bag has gone up 2600% how much alium has been accumulated okay that you've accumulated over this time for it to have this increase of 2600% T is about 2 seconds away from opening an Excel sheet I if I could export my lithium uh transactions I would 100% show you guys the true difference you know what I'm going to do that right now [ __ ] this I'm going to do I'm going to show you I'm going to show you guys the you guys want to see the difference you guys want to see what mining in the bare Market is versus okay you want to see who wants to see it type one in the chat jock Miner yeah we could all just buy the coin but then you are just trading mining on the other hand much more fun yes mining is a lot more fun yes 100% do it one one okay well okay can I export okay hold on I need where how can I export my lithium transactions hold on let me okay let me get my address here oh that address is not there okay thank you for answering Panda yeah no worries man custom Computing the argument is if you could have saved the electrical payment and used that to to buy a lith to buy a lithium would you have more lithium than if you mined it uh custom Computing I mean again two different investment strategies I'm I'm not I'm not going to argue I'm not going to argue buying versus mining the coin I think it's I I think I think it's it's to two totally different two totally different uh strategies why are we looking at prices I thought we mined to support change retro mic you know that's you know that's false right you know that's that's a that's it's all it's all that's a hypocritical hypocritical saying right I'm with you though ret M I'm with you thank you for the donation um mine two years sold nothing yeah um okay I'm I'm trying to I'm trying to remember where my lithium address is cuz I it's not in my hios cuz I'm mining to a different one let me see here let me think let me think let me think let me think hold on hold on no doesn't show up here no doesn't show up [Music] there retro mik Super Chat came in late thank you retro mik again um retro mik Tech donated two different strategies both are valid mining a slow accumulation but if you see a bull market it might be good to stock up on some coins right no 100% um BC that's why I said timing is also everything as well Ryan uhy there is a break even point between two strategies you can find it by setting two equal sides to each other in an equation Ryan uh playy we've done that before actually you know what um I've actually done that before buying the coin and versus mining the coin uh so there's going to be it the average the average uh for both sides to break even is like 2 to three years so I I actually did that I actually did that on an L7 um in theory if you were to just buy Litecoin and Dogecoin or buy an L7 um it would take about 2 to three it depends right it depends on the price of appreciations of the coins um all that kind of stuff like it just it totally depends it totally depends when the coin will go up but the general rule of thumb it was like 2 to three years for both strategies buying the coin or mining the coin because you you also consider that you also have the piece of Hardware that you can sell as well you put that into the equation as well the piece of Hardware could very well be worth the initial investment that you put in as well so not only have you been mining the coin and accumulating but you also have the the piece of Hardware that will be worth that could be worth a lot as well so sure you could say buying the coin is great yes it could be better but I mean Mining and Mining and uh buying the hardware is also very lucrative as well really depends how you look at it especially when it comes to taxes if you're doing it as a business you know having that piece of Hardware buying that piece of hardware and you're able to depreciate that over 3 years it's literally free it's that piece of Hardware is like for sure income so the income which you have to pay taxes on but then you're lowering your income from depreciating the piece of hardware and as well you're also lowering your income by expensing the electric and your foam Bill and whatever the hell else that you can expense it's it's it's a no-brainer man it's it's a no-brainer by the time you pay off that piece of hardware and you still have it chances are the next bow run that piece the hardware or is going to be worth five times more and at that same time if you hold if you held all that coin you're it's going to be worth even more it it it it'll be worth exponential I've lived through it okay i' I've seen it I I've lived through the times when your bags have gone up like 10x you know when your ethereum has gone up to like half a million doll and your initial investment on that rig was like $10,000 you know mining over the course of the the the past the previous like you know 3 four years on a rig and you've accumulated all those coins and it's just it just went to the moon you know sure I've had many I've had many regrets regarding certain coins I'm not going to name any right now but there's there's certain ones where I've been like damn I shouldn't have sold that you know I shouldn't have sold that I shouldn't have done that but Ryan play yeah this in this example the hardware is an appreciating asset yeah yeah yeah it is it really is it really is never heard of the word what is the word you talk about tax uh that's funny that's funny I mean at the end of the day if you're trying to sell and you want to put that into your bank account and if you ever get audited and they're going to ask hey where did this money come from how did you get it initially where did it come from you you you you have to provide you know the blockchain address or where all the transactions of where you got it Min it initially and if you didn't pay tax on it they're going to come after you and then you also have to pay interest on that M coin especially if you didn't pay the income tax the tax on it whenever you mined it that year so you're they're going to they're going to they're going to hit and I I know someone I know someone who mined a couple years ago they got hit okay they didn't pay the income tax on the mine coin okay and then that year all right they didn't provide the uh uh they didn't provide that during that time and they're like hey did you pay tax on that during that year and they're like no so it depends though if you're running it as a hobby or as a business chances are you're probably going to you're in the business realm hobby is like one or two gpus and the transactions you got to be less than like 10 100 transactions a year or something it's it's they they're going to look at how much how much the trans how many transactions are coming in into your account like we have thousands of like mined coins coming in a year like thousands of different transactions that's like way over a business already like you're I mean you're you're in the business realm it's like anyway I don't want to talk about taxes too much cuz I know everyone's taxes are different so where's the Excel sheet at Smoky n i I can't find my lithium address I'm trying to find my lithium address I don't even does the alium explore can you even can you even export that alium explore there we go oh download CSP oh download CSP okay okay okay okay okay hold on I got to find my I got to find my lithium address hold on hold on hold on hold on hold on hold on give me a break give give me some time here I I need to find it okay um no that's the wrong one let me go into a new tab here flight she will have the I uh I I I I removed that one address uh a bit ago so that's why it's not there anymore it's not it's not in my hios um hold on okay hold on hold on hold on I need to close my screen hold on guys hold on please stay hold on I'm going to show you the difference here of Mining and holding okay hold on uh where is [Music] uh uh I need hold on I I need to open Discord hold on open Discord hold on who's messaging me um okay um let's see okay let me see okay I think I found it okay hold on um alium Explorer download let me just see if this is the one okay I'm going to download this I I don't know if this is the one [Music] oh it doesn't even what there's no 2022 they don't they don't let you download 2022 transactions cuz I have I have 2022 transactions here ah come on yeah hold on hold on okay download CSV previous year last 12 months yeah see it doesn't do it doesn't do um 2022 why is there no 2022 okay whatever I'm going to see if this works okay hold on hold on I'm just going to do 2023 okay I'm going to import file uh sure file is too large more than 10 me what this export from lithium explor is more than 10 megabytes dude dude 10.7 megabytes dude that is a lot holy crap let me open this wow okay open with uh okay hold on Google Sheets Google Sheets okay hold on hold on I don't have I don't have Excel on this computer sorry guys I would show you this but it's a little bit incriminating I would show this but uh just bear with me bear with me I want to import okay import upload just bear with me okay bear with me I want to figure this out I want to show you guys the power of mining okay okay just just hold on yeah hold on hold on okay okay okay okay um wow there's a lot here okay I'm going to remove how is this file more than 10 megabytes it's crazy okay um make a copy uh share save uh export export import um download uh CSV alium 10.8 me what still 10.8 megabytes oh my God RPM you left the default Min payout um yeah let me check that hold on let me check hold on hold on on yeah hold on hold on hold on hold on hold on hold on hold on hold on okay in coin Le okay I need to I need to download the uh coin Le uh default uh upload file okay so wallet transactions uh wallets if I just uh add add in a wallet okay [Music] okay hold [Music] on Save download okay I just deleted a a column that's okay that all right that that didn't even lower the F didn't even lower it okay hold on from address time utxo time St I'm going to delete this okay how about that can I export this now download CSV two still 10.6 megabytes where the hell is this in why is this taking so much space somebody somebody help me uh I'm going to delete this colum delete this one all right let's see if that's better I'm sorry guys I I really want to I really want to get I really want to figure this out it's a pirate I did this two weeks ago I know your pain okay at least I'm not I'm not alone oh my God 10.4 oh my God that still didn't bring it down I I deleted three columns is this thing stupid oh my goodness four all right 10.5 megabytes oh it needs to be under 10 megabytes two address from address date and time okay I need the I need the date and time do I need the two addresses uh amount to address from address uh you know what I'm just going to delete the two address scre forget that I don't think I need this column delete all right let's see if that even I don't think that's I don't think that's a good idea but let's just see five 205 kilobit okay okay all right well let's see if that works so time uh mining import all right importing oh my god let's see if this works unable to import this file automatically Pro proceed to the file mapping page to continue map import Pro oh God this file could not be imported automatically please follow the tips below to resolve this custom import for file format okay hold on guys oh my God download the symbol template okay I'm sorry Bros let me figure this out I'm sorry I think I got this though amount hint amount amount okay I got that that is not pasting in I have 2,000 transactions in 2023 here okay hold on view only okay request access um I need to make a new file here make a copy okay I made a copy pasting in all right this is working this is working okay Al okay Al elf okay I need now okay I can show you guys this um Mission all right I can show you guys this okay date okay I can copy the date all right hold on bear with me I will show you guys hey label mining I mean yes that's all that's all mining okay um now what is this TX hash I don't need that right you know what I'm just going to put it I'm just going to this is this is from the mining pools these are all this is from like Woolly py and [ __ ] okay all right uh okay um all right let me import this in okay let me let me let me export this and let me see if I can okay exporting uh number six okay let's see if it works now import okay let's go back here drag and drop number six uh mining import please work for the love a god 2,339 transactions have been added yes okay let's go let's see what all right okay okay hold on hold on I just going to make sure this looks okay uh okay all right let me bring it over here it is this this is the true power this is the true power of GPU mining all right I'm I'm this is this is proof this is proof of Mining and holding and paying your electrical bill out of pocket so it's I I don't have my 20 it wouldn't let me export my 2022 transac I have a lot more than this like I think I like 5,000 or something but anyways this is just for the year 2023 okay so look at this look so 2023 mined I Min 2538 alium all right oh this is the wrong oh this is the wrong date yeah okay sorry all right same thing all right anyway here's here's here's the difference okay so my initial cost basis of every single coin I mined together is8 $88 us okay $88 okay of all this of the 2500 Alum mine in 2023 that was during the low time right this is all the you can see you can see when I was accumulating the lithium here you can see it's you know slowly going up and up and up and up and up right but so cost basis was you know pretty low right pretty low but look at this so since now okay now that the coin has gone up in price has appreciated so much 469 so my bag now is worth $4,599 look at that look look look you see the difference here so I was mining this and holding I wasn't selling any of this a lithium okay uh how much was that power cost Arc crypto mining it break even just just it's break this is Break Even is $88 for me around this is Break Even you don't need to just just pretend this is breaking even so my electrical cost I paid for mining this would be $88 I was pretty much during these low times would be pretty much breaking even okay you you you go to what to Mine your or hash r.

whatever this is generally I'm going to say break even for me for mining a lithium but I really want to hone in on this okay this is where the power of Mining and holding comes okay it's afterwards okay so if that coin does appreciate a lot you can see the gain right so unrealized gain this is if I sold I haven't sold it but if I sold it now I could make uh $3,790 essentially cuz my initial cost basis here um in 2023 I have to pay tax on this right so 46 $4,600 total right so I have to pay capital gains on this on this uh on this amount here okay so this this is a an actual real like not a test this is not a test this is real this is an actual crypto mining like the strategy of Mining and holy this is a real a real how do I say it scenario I live through this this is just a very small example okay man I wish I could I wish I I could bring up my like ethereum one where it turned um uh you know I mined uh like 25 30 ethereum and it turned into like 100k uh my my initial investment on that rig itself was 8,000 plus another 4,000 in electric over the course of 3 years it turned into a 10x 10 10 12x or something so you can see you can see the the exponential here of mining at breaking Break Even okay around 88 us for me in this case and or in anyone else's case depending on what your electrical cost is okay electrical cost matters but you can see the power you can see what happens here the amount that I paid off for for my electric to mine for this has gone up this much already so this is the power of GP mining or actually this is the power of mining in general any Asic mining CPU mining GPU mining if you're just Mining and holding that's the that's the crypto mining strategy here this is a real world example I have a a true test here of of a of a of a case of Mining and Hing I I've done this many times on many other coins I think I've done many videos on this already I don't think I need to explain I mean most of you guys have seen those videos before but this is the true power of GPU mining all right this is I'm not faking this okay all the transactions are right here you can see when I M that alium too right look we can go all the way back to the to the freaking beginning right I was mining in March April 2023 right you can see that like one look at this one like almost an alium a day or two or more uh wait uh one to 2.6 I was only mining on a couple of I I was only mining on a couple rigs yeah I I remember doing these times I was only mining on a couple rigs okay mining a lithium so I didn't have my whole Farm on it in hindsight okay hindsight I should have had my whole Farm on it I would have made I probably I probably would have been like 100 six digits but you can see the power do you guys you guys understand like the power of Mining and holding I feel like I'm not I'm not I'm not honing in on this enough do do you guys you guys understand the power here or [Music] no like I said before lithium is like Raven goes up 10x easy uh Iowa our biggest regret we should have been dual mining e a lithium since day one yes it I'm if I could export my 20 20 22 transactions which a lithium Explorer wouldn't let me I have that from the lhr days I have that I have a lithium e mine during those times I I know we made videos on it I know we should have done that hardcore but you know hindsight but you know I'm just saying this is the strategy of of I'm not and this is this is going to go towards any other coins that are out there now you don't know when the next you know alium pump is going to be you don't know when maybe conflux you know maybe conlux is prime to have uh maybe maybe radiant you know everyone's been talking about radiant being the next prominent coin that's going to that that could potentially go up you know radiant hasn't had its uh uh radiant has not had its uh it's uh price appreciation uh it has uh this last year um but is it going to happen again that's that's the big question uh um uh let's see I'm missing T Swift let's not talk about Hinds or we'll be sad we didn't mind cast during the E days I mean yeah I dude I I wish I wish I could I wish I had a Caspa example of GPU mining it and exporting the transactions and putting it in here it would be in the couple thousands of percent probably yeah it would be insane if any anyone has a f if anyone has a exported Caspa transactions of GPU mining it in the previous days send it to me I will import it here and then we can see what the difference is H let's be real here it's not due it's it's due to not being a k coin Smokey den you're right you're right you're right it needs to be a k coin um okay uh GP risers me back in about do mining elf yep yeah I think we everyone did really I have a small bag of Al it's my two or two coin is even close to arxy is my number three patience is virtue yep yep power mines kryptos to see see a raven and Doge doing good this B run I I think generally everything is going to do good I mean yeah who knows I mean NEX is another one that could be prominent I mean who knows who knows um which of your bags are you most bullish on um I don't I don't know man I have a lot I have a lot of everything um I think I think my my favorite one that I've never really talked about but I have HS lights and I've been mining it for like the past two years and holding it is going to be my sea coin I think this one is this one is really surprising me already um my bag of this is already has gone up quite good enough good already um but not to the point of where I want to sell it yet because I feel like if the bull run is you know imminent or we're on the precipice of the bull run in the next couple months or this year or early next year then this could be this could be my my my retirement I don't know we'll see um or or neoa I have NOOA too I got I got I got lots of different radiant as well I got lots of different coins a lot a lot what is going on Joker Miner everything's going on do you mine or own Kyla no I do not have any Kyla um the only small rig was hard for me to really mine a lot of particular coin broke problems uh big Bell yes yes I I know Financial depending on your financial situation not a lot of people were able to continue to mine during the bear I know I know that I know that it's it's it's it's a hard thing I know not everyone can do it and not everyone can do it right that's that's that's the hard that's the risk you're willing to you're that's the risk you're willing to to take uh especially when you're Mining and holding it it it is a hard thing to swallow like you're paying your electrical bill out of pocket which could be in the hundreds or thousands and you know depending on your financial situation that that's a hard thing to do yeah it is for sure I'm not I'm not going to discredit that at all I mean I think I I was there 2018 2017 I was I had three jobs man I had a full-time job and I had two other uh side gigs um just to pay for my just to pay for my mining you know [Music] um where can I send my CSV for my early Caspa mining uh 306 Miner send it to contact at Red pendam mind.com I will I will do that right now I will import a casa one right now if you if you send it to me right now I'll I'll put it in give it to me I'll do it right now let's see how much percent it gone up give it to me uh Joker Miner are you individually doing each coin and coin Le yes yes oh I have a coin Le affiliate if you guys want it I don't know if anyone wants to sign up for it but uh actually I already have a few people who signed up for it there it is if you want to sign up for coin Ley it's right there it's a great program I use it for my taxes at the end when you do tax reports you get a whole big file if the government ever needs it it's all there it's great I have all my coins together in there I love it same Joker Miner same same same every time basically every time I have a transaction I kind of put it in because then I don't get bombarded with doing it at the end of the year um Curtis Markham sorry something came up at work and I missed that mining versus buying segment can you repeat that Curtis Markham no um contact red pan.com uh yeah send it there good sir send it [Music] there bot life G gamer in Canada do we report what he cash out or even what he hold as a coin you you you have to report your income okay you don't have to you don't have to show what coins you're holding necessarily uh it's just every if you ever get audited you have the tax report so you're just you're reporting income that's it getting CSV from web wallet is not importing all transactions okay 306 minor forget it forget it man it's okay I thought RPM wanted Fe piix hey hey okay guys that's it for the live stream uh we've been streaming for more than an hour and a half thank you guys so much for the for the fun thank you BP for the insane donation man ah just insane BP oh BP you're crazy okay that's it guys you have to report income and dividends received to the IRS canall the tax professional yes 100% all right see you bros later is there anyone else streaming I could uh raid them we could we can raid you guys want to do a raid uh is anyone else streaming right now let's see uh no nobody in streaming right now bye Panda sorry about the s19 uh it's S21 but thank you next stream I'm aware is in 1 hour oh Hawk is doing a massive giveaway tonight oh hot crypto mining he's giving away some cap Spa as6 Yes Asa A6 go watch this one it is going to happen tonight in uh how many more 5 hours in 5 hours you guys get in on this in 5 hours two big boy asex get in here we're going to have some fun the grand opening of Tera hash is.com we're going to we're going to we're going to have some fun do some giveaways and if you guys want to buy some as6 trashes decom all right Bros they are also a new sponsor of red panda mining a brand new anen sponsor huge sponsor Hawk is amazing mining King is amazing GP risers always amazing hey across a new YouTube uh mining Creator modern mining worth checking out I am out Patrick Murphy sounds good I I'll check him out bro sounds like ins Scott Sheffield godam all right goodbye goodbye everybody have a great day smash the like on the way out thank you so much keep on mining keep on mining [Music] [Music] [Music] [Music] [Music] n [Music] n [Music] [Applause] [Music] [Applause] [Music] n [Music] [Music] yeah [Music] n [Music] [Music] yeah [Music] yeah me to act like a [Applause] psyop people don't believe [Applause] [Music] [Music] like my [Music] [Music] [Music] f what the [ __ ] you going to do up up what the [ __ ] you [Music] going

As found on YouTube

You May Also Like

Leave a Reply

Your email address will not be published. Required fields are marked *