Crypto Mining Trends of 2024 | Episode 274

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Sources
https://www.coindesk.com/consensus-magazine/2023/12/22/is-it-really-up-only-for-bitcoin/
https://www.coindesk.com/consensus-magazine/2023/12/20/if-youre-in-crypto-youre-a-criminal/
https://www.coindesk.com/policy/2023/12/25/japans-cabinet-proposes-scrapping-corporate-tax-on-unrealized-crypto-gains/
https://www.aipowergrid.io/aipg_whitepaperV1.04.pdf
https://crypto.news/mexc-explains-confusion-over-deleted-ceo-account/

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#cryptomining #cryptominingmorning #cryptominingmorningshow

Ho ho ho hello and welcome everybody the crypto mining show your One-Stop shop for all cryptocurrency news from the perspective of a cryptocurrency minor I go by blind run on the internet and Matthew in real life and the lighting’s a little dark in here so you might see a Breaking of the

Veil around me apologies it’ll be okay that’s what happens when you’re bouncing around everywhere hope everybody’s having a Merry Merry Christmas or happy Hanukkah or whatever you celebrate doesn’t really matter hope you’re having good holidays and you got a couple days days off to spend with family and plan

Out your next cryptocurrency mining purchases there you go so today we’re going to be talking about up only of course and this idea that are we in the phase of up only or not with Bitcoin because we’ve started to see it go up we’re getting close to the having

However you know historically we see Bitcoin really not start to go up only until after the having and the having hasn’t happened yet it will be coming in around April of 24 we’re also going to be talking about the government coming down on crypto with Warren’s statement that basically you’re a criminal if

You’re into crypto which is bollocks we’ll go ahead and borrow that term in my humble opinion but we’re also going to be talking about Trends coming into 2024 and what you should be looking at because we are seeing a complete shift of course in the mining landscape and

What’s important to individuals and what is not and we’re going to talk about some of these Trends specifically as it pertains to this new crypto that is extremely obviously profitable on hash rate. called AI power grid and we’re going to go over their white paper and

What you’re going to find I think and what I have found is that all of these cryptos are starting to lean towards saying the same old bull over and over again trying to get people to invest into them so hey that’s bullish though from our perspective because that is

What begins to happen once we get close to getting into these these markets going up only right you just start having the same thing whether that be you know nfts or defi or whatever these terms are AI is obviously going to be a big one this is when we can start seeing you

Know are we moving into a new cycle and what are going to be the the big players in this new cycle and how to spot them let’s go ahead and get into it right after a word from today’s sponsor today’s sponsor is BT miners BT miners has been a longtime sponsor of the

Channel and a proven reliable source for Asic miners if you are looking to purchase as6 Hardware from Bitcoin to Dogecoin miners they are available for purchase on bt- miners.com BT miners has recently launched an app on IOS and Android that let you browse their inventory by profitability and return on

Investment follow the affiliate Link in the description and use promo code s o a for a discount all right welcome back so let’s start off with an opinion piece from coindesk is it really up only for Bitcoin and obviously this is the question that everybody has if you’ve

Gone over my Crypt mining ecourse sonof ach.com you might be looking at this cycle and going hold on wait a second things are not playing out exactly like they used to and that may be true but remember history doesn’t necessarily repeat it just kind of mirrors and let’s

Go ahead and look at this particular article and see what they think so is that time again when your friends and family members they’re setting the narrative up right you you’re into Bitcoin you go to your Christmas parties everybody’s like oh how’s Bitcoin doing last year didn’t feel too good now did

It you went there and they’re like oh you’re not doing too good with that Bitcoin are you this year you know maybe it’s starting to change starting to see normal people get interested again uh as you know we’re completely expecting it I mean if you’ve been doing this for a

Couple Cycles you’re fully aware of the fact that you’re going to have a bad down year and then three up only years more than likely right and it’s just a a constant up and down and that is the same with everything in life it’s just a little bit more accelerated with

Cryptocurrency which is kind of funny so it goes the truth is if you’re thinking about buying Bitcoin right now the opinion says it might not be the best time to make a sizable purchase despite the fact that we might see spot Bitcoin ETFs approved in the near future and it

Goes on to say why let’s start by looking at bitcoin’s Price action during periods leading up to the last two Bitcoin havingsex is due in late April when block 840,000 is expected to be mined Bitcoin having Cycles last for about 4 years 210,000 blocks and produced at approximately 10 10 minutes per

Block at the commencement of each cycle the block subsidy reward that Bitcoin miners receive is cut in half which triggers a Bitcoin Supply shock historically bitcoin’s price has R risen dramatically during the year and a half that follows the having the price then tanks and trades in a range for the

Cycle other 2 and 1/2 years from late 2013 until mid 2016 when the second having occurred bitcoin’s price fell from 1 1,166 to $156 it then rebounded to $780 67% of its previous all-time high before falling 40% to 472 in August of 2016 the 472 price point marked a local

Bottom just one month after the second having took place from late 2017 to 2018 bitcoin’s price fell from 19,6 166 to 3,150 before rebounding to 13,880 70% of the previous all-time high by March 2020 its price had fallen 72% to $3,867 $3,867 marked a local bottom for 2

Months before the third Bitcoin having which occurred in May of 2020 another 2 and 1 half year period that precedes a Bitcoin having is coming to an end this period began in late 2021 and will end in April of 2024 when the fourth having is scheduled to occur

During this period thus far bitcoin’s price has fallen from 69,000 to 15522 before rebounding to 44759 65% of the previous all-time high this 65% rebound the current one is awfully close to the 67 and 70% rebound we saw in the two previous cycles and so the big question now is Will bitcoin’s

Price retrace significantly leading up to the next having as it has leading up to the other two previous havingsex approaching 44,000 if it were to fall for 72% as in 2019 to 2020 we’d see bitcoin’s price at 12,532 I’ve seen very few people mention such numbers in the wake of euphoria

Bitcoin investors are currently experienceing so will this time be different aren’t we waiting for billions of dollars to flow into Bitcoin almost immediately after the spot Bitcoin ETF is approved maybe so if we look at it from that perspective right and we take into account the Cycles how they affect it

And a repeated pattern within Bitcoin then you could say it’s fully expected for Bitcoin to retrace Back Down Under the $30,000 Mark before we hit the having in April of 2024 and once that having hits if we continue the same cycle as always we

Will see an up only for about a year and a half going on after that with a really big Euphoria phrase phase excuse me about 6 months after the having which would happen sometime in October of 2024 with Peak starting you know going into the new year of 2025 which I’ve talked

About into exhaustion on this channel but we do have this pending situation with Bitcoin spot ETFs and more people that have been around for enough Cycles to understand this and this is where we start to get the question of will people actually be selling off Bitcoin like they have in

This these previous periods right before they have it or will they be expecting this and keep the price levels higher because they won’t be selling off from the fear that happens because of the price going down and I think that a lot more people are educated that are participating within

Cryptocurrency that it may affect the way this cycle plays out not to mention another thing that is a huge Factor when we start talking about the having cycle with Bitcoin is the amount of fees compared to the block reward and as most have postured in the past once we get to

The point of fees meeting the block reward what we will end up seeing is a settling of the volatility of the market and the Bitcoin price will then be a lot more stable across the entire space because you have fees me matching that why is this important now well we kind

Of have a perfect storm of not only Bitcoin ETFs and the having coming but we also have ordinals which have greatly imp acted the amount of fees that miners are getting paid out in Block rewards and because the fees are being increased the miners are not as dependent on the

Block reward as they were in the past however it is important to note that we aren’t quite there of parity between fees and of course the block reward as a whole so I still think we have two to three more Cycles before we really see the Bitcoin price start to settle out

And we break out into the macro and out out of the traditional having Cycles that’s personally what I think however you never know with Euphoria and ordinals especially like we saw with nfts on the ethereum side of thing in the previous cycle how much that will actually impact price but if we’re

Talking about moving into 2024 from the perspective of what will be the trends what’s going to impact price and what should I be looking out for while you should be looking out for the popularity of ordinals and how much that brings up of course the fees in

Comparison to the block reward you need to be paying attention to the Bitcoin ETFs and you need to be paying attention to minor selling off before the having so that they can of course pick up some more miners to then have more hash power so that they can make up for the having

Loss there so that is all the things that you should be paying attention to moving into 2024 of course I’d like to hear your thoughts about all this in the comment section and the live chat speaking of for the live chat of course at the end of the show we’ll get into

Questions and answers where super chats are never required but always appreciated and the first to be answered and if you tag sonof ACH it will highlight the message orange and I’ll be able to read it and respond to this and we can come back to it now this article

In particular goes over of course the Bitcoin ETFs but we’ve covered that to exhaustion what I really wanted to highlight here is what we have seen traditionally in the past and set your expectations so that you are aware that this having cycle is not fully complete yet right we still have another pullback

That is possible from previous Cycles so let me know do you think that we’re going to have another pullback running into the having in April or do you think we’re up only from this point forward that being said we have a lot of positives coming down the pipeline for cryptocurrency in general including

Bitcoin ETFs the rising of fees thanks to ordinals and general AI that is starting to get implemented that we’ll be talking about here in a little bit but not all as well because if you are in the crypto you are a criminal according to Senator Liz Warren so here we go obviously she’s

Been attacking crypto for the longest time I love following shibashi Nakamoto over on Twitter who just gives her a hard time all the time but let’s get into this so if you work in crypto you are going to hell I stand with Elizabeth Warren as part of her anti- crypto Army

And condemning this villainous industry chalk full of crooks bastards and fools waiting to be separated from their money the grift and crime rampant throughout crypto is comical and villainous it is comically villainous [Laughter] they will vilify what threatens them you know what’s really villainous manipulating markets through the government for personal gain just

Saying together with the likes of newsletter writer Matt Stoler uh we of the anti- crypto Army are banding together to strengthen regulatory attention on crypto no way should there be a means for consenting peers to transact directly without a bank or financial institution to act as an intermediary no that is the exact

Purpose and that is what pushes towards Freedom I’ve actually been having this discussion a lot lately in the terms of government in general which has been really interesting with a few individuals uh like for example if we get into freedom of religion uh a lot of Christians uh or you know basically that

Will tout freedom of religion will still think that religious practices should be governed by some sort of government body when in fact if you start to move down that line you end up having a problem where you lose your freedom to practice religion if we move that over into

Cryptocurrency in general once you basically have the government in control of the money then you lose your freedom to transact with individuals directly and obviously you lose that freedom so it’s sort of similar like the more we push into regulation this is this is a point of contention I’ve had with a lot

Of people in the cryptocurrency space for a very long time because whenever I have the discussion with individuals about cryptocurrency it comes to the point of them saying well it needs more regulation no it does not need more regulation it needs more personal responsibility the fact is is that

Individuals like Matt here don’t want to accept personal responsibility for their owning mistakes and so they put that burden on the government so that they don’t have to absolve for their sins it’s the way it goes and this is the same with throughout everything within Society we must keep people and the

Public safe of course we’re going to hear that narrative if cash were created today I’d oppose it for the same reasons as crypto of course you would oh my goodness cash and crypto both fall a foul of the bank secrecy Act BSA the BSA is a much needed and highly effective

Regulation without it US Financial activity would falter in no way is the BSA simply a means for banks to absolve themselves of the responsibility of proactively preventing fraud or making good when it happens by allowing them to file want uh wanting suspicious activity reports to Regulators who definitely

Have the means of assessing the risk and in no way does the BSA violate their civil liberties enshrined in the US Constitution that is simply not a conversation worth having yeah this is the way people argue when they don’t want to actually address the valid argument of it being a violation of the

Constitution because they don’t actually have a valid argument there so they just tell you that it’s not a point worth having right it’s not a conversation worth having that indeed because no crypto exchange performs standard know your customer checks or and that’s not true at all either a lot of crypto exchanges perform

Standard know your customer practices and checks uh crypto.com and coinbase the two largest in the United States definitely perform kyc so that is false in general but I oppose kyc personally I think that you should have non- kyc exchanges that you’re allowed to participate in and in an Ideal World We

Would have fully decentralized exchanges which obviously with defi has been extremely difficult to get to because of liquidity issues ETC but ideally we would get to the point to where that would be the go-to uh solution for all of this anyways it does exist so or works with onchain analytics

Companies to monitor for elicit activity or terrorist financing yes there is all of this is in place already I know this because senator Warren wrote a letter to Congress saying so oh my God you know it cuz Elizabeth Warren said talked about she didn’t know about oh cool oh

Good glad you’re listening to someone that has no clue what they’re talking about and that’s what you’re going to utilize as your Source in this letter it’s comical as hell you could just Google kyc crypto exchanges in the US and it would pop up and it would give

You all the regulations that surround it it would give give you the examples of it and you would see previous onchain analytics that were utilized to solve crimes in conjunction with set exchanges that already exist oh my gosh [Laughter] oh never mind that companies like chain analytics or EP elliptic routinely find

That the vast majority of crypto use is legitimate or at least not explicitly elicit I mean what else would publicly verifiable and immutable ledgers be used for indeed Senator Warren and obviously this is like a slap stick on on coin desk by the way it’s just funny um

Senator Warren also sent out a number of letters to crypto lobbyists including coin Center the blockchain association and crypto exchange coinbase which has recently reinvested in its own Washington DC pressure campaign calling out the revolving door that exists between crypto and the capital shameful activities bank and other uh financial

Institutions would never hire former politicians or those with political connections to advance their interests it would be unseemly as unseemly say as a legislator who actively trades stocks Warren mind you is the senator who got the Consumer Financial Protection Bureau through political gridlock so she knows a few things about financial

Safety I love the way they wrote this because of all this and more I must join the ranks of the anti- crypto Army and combat the adoption of crypto even if you want to grant that crypto has been used to fund dissident political actors and Freedom Fighters alongside terrorists the contributions blockchain

Developers have made to cryptography and self- custody Solutions or the political flowering that can follow when people begin to take ideas of sovereignty and Community seriously crypto cannot be worth it so obviously they’re going on about this this is great who wrote this one Daniel is that right good job dude that was

Hilarious anyways so this is like something that’s been going around for quite some time I think it’s been pretty clear that that there are actors within the government that want to stamp down cryptocurrency we saw all those attacks go down on banks that were working with people within cryptocurrency markets and

Obviously those Banks were allowed to fail While others were not it’s all all that’s really happen happening is a breakdown of the facade and when you get like a satirical article that is like this you know to a certain extent then you can really see how the public is

Starting to see through that facade and see through the fa veil of of the BS that the the government is spouting surrounding cryptocurrency in general all right so what we’re going to talk about next is going to be the trends moving in this is the big one that I

Wanted to talk about today getting getting serious though it’s hard to get serious about this though I’m going to be honest okay whenever I see something like this I immediately think scam LOL this is cheesy as heck like internet computer or whatever ICP you know what I mean

Like to a certain extent it’s getting it gets a little ridiculous like I almost would take a meme coin more seriously than a coin that it’s like we are the AI power grid I’m just I’m just saying at first glance that’s how I feel about it but what is important about this

Particular white paper is that it points out a lot of Trends within cryptocurrency mining that you should be aware of and why are Trends within cryptocurrency mining space more like for what we do more important than overall Trends sure we can talk about ETFs right we can talk about ordinals

Which is going to be overall trends for Bitcoin uh we could talk about nft Trends uh use of the blockchain there that’s not and and that sort of thing we could talk about Defi and so on but when it comes to being a cryptocurrency minor it’s important to understand what the other

Miners are working on and what people that are actually focused on mining in general with their cryptocurrency are looking at and the thing is is what you are seeing is a paring of the community from new project so when we see something like AI power

Grid here what we see is a team that got together basically took a bunch of in like in took a bunch of information from individuals within the cryptocurrency mining space and then built basically a white paper that would appeal to them which then gives us an idea of what the

Community is looking at pushing forward and moving forward now as an influencer too I am fully aware that a lot of people will will watch my vide see what I think and put that into their white papers as well it doesn’t mean that any of these projects have validity

Whatsoever of course you need to have the devs do the work and actually prove out that they’re capable of doing what they say they’re going to do but we analyze this from the perspective today of what is going to be the big trends moving forward and I think that’s important

So this one in particular is really interesting because it mentions a few things first of all it is a ravencoin fork which is interesting because obviously ravencoin being a fork of Bitcoin and then trying to be that true Asic resistant you know 100% minable no VC backing all that sort of

Stuff and then moving in from there we we’ve seen recently a shift away from Asic resistance and a shift into forking essentially Caspa over and over again and this is kind of coming back to forking ravencoin which has been extremely popular to be forked for uh uh quite some time especially within the

GPU mining space right so one of the trends here in general is going to be Asic resistance for GPU miners moving forward and for that in general but really when this question comes up of like the importance of Asic resistance there is an argument here that I think

Is very key so if you’re going to be on like Twitter and you have a discussion with someone that is gungho on some Asic coin whether it be kadina or Caspa or whatever it may be one of the things to point out is that in general as6 or a

Single-purpose unit which means that they are programmed to do one thing in the case of Bitcoin coin M Bitcoin in the case of Caspa M Caspa now on a surface level you could say okay that’s going to be better for the network because the network once you have sold

All of those units will have a steady security and it won’t go up and down based on market performance which is basically just saying we don’t care if we screw over the amount of money miners are making straight up right because they just expect you to leave the machine on

Even if you’re losing money which doesn’t make any sense I never understood that argument from the very get-go but you also are basically powerless when having any discussion with someone outside of the proof of work space about the importance of proof of work and the impact on the

Environment as6 are purpose built to do one thing which means at the end of the day when they become less efficient they become E-Waste right so it’s wasteful it doesn’t have the capability of doing anything else right other than mine that particular cryptocurrency and and therefore is a poor argument against any other

Environmentally concerned individuals that tout proof of stake so one of the ways that you can get around this is by finding a way to utilize mining Hardware to perform other types of work that are needed within other Industries whether that be AI or whatever right node uses

Or whatever it may be hosting in the case of like some flux node type stuff that is move that you can move into and that would be targeted towards basically devices that have more versatility within the compute platform to perform other uh other services other than just mine the cryptocurrency itself and this

Is something that we’ve seen a rise of you know obviously starting way way back with flux and this this announcement I think obviously it would be a Miss to not mention really flux putting this idea forward which is really interesting and then that flow into other projects

Obviously we’ve seen DX which has found some success there and we’re starting to see this talk of proof of useful work in a lot of white papers so trend-wise we will see that obviously what does that entail at the end of the day though too because it transition they will say that

They’re going to transition from proof of work to proof of useful work as a minor I do want to make this extremely clear you have a distinct advantage to mining this particular project now and then stopping before it moves to proof of useful work why do I

Say this well right now the way mining systems are built out is that you have a motherboard that usually has a bunch of PCI slots on it and those PCI slots run at a lower bandwidth than they would in a traditional computer and this decreases the cost for your your

Particular mining rig in the form of proof of work that you have from AI power grid right now you can basically have a miner that is cheaper that can mine this particular cryptocurrency at a time when you have a higher yield because it’s not popular once it moves

Into proof of useful work the cost will increase for the requirements to mine it the difficulty will increase as well and because of the additional workloads you will be utilizing more power therefore spending more money for this for Less reward so in my humble opinion when

You’re setting up a project like this if you don’t have proof of useful work ready to go then you shouldn’t release it because you’re going to create a volume disparity within the network it’s actually detrimental to the network because you’re getting less efficient not more efficient why do as6

The as6 fpg why does the to CPU to GPU to fpga to Asic hierarchy work with other cryptocurrencies because you are getting more efficiency over the equipment Evolution not less efficiency so when we talk about a move from proof of work to proof of useful work you’re going from

More efficiency to less efficiency meaning that you are decentivize I’m telling you is if you’re a GPU Miner your best bet would be to mine this particular shitcoin grab a bunch of it up have a volume disparity and be able to control that and then sit back and

Wait for the proof of use will work and dump your cards off of it before that happens that’s what’s going to happen to a majority of these projects right and the other problem that we have here is that there will always be a hunt on these particular proof of useful work

Projects to bypass the useful work port this has been an issue on the DX side of things for quite some time and so live developing something like this that you haven’t put the work into before releasing it with a promise of releasing it in the future in my humble opinion is

Extremely dangerous okay because you are then live working on something that’s going to create bugs which is then obviously going to create holes and individuals will take advantage of those holes for monetary gain that’s just the way the world works but what are we looking at as far as you know what is

Trending moving on Down the Line well proof of useful work clearly being one of them second to that which I think is extremely interesting is going to be Ai and why do I think it’s interesting not because AI is real like not because it’s being utilized but by retail not because

It’s super popular and everybody’s doing it and everybody knows how to utilizing but the fact is that it is just a trigger term to sell something when in fact if we look at most AI projects that are being or decentralized AI projects that are available now none of them are

Actually Computing AI for the most part people that are Computing AI are on the private level and that’s been throughout the mining scene as well anybody that’s converted to AI rendering from the GPU mining side of things has basically moved into private entity work meaning that they rent out their systems to

Private individuals private companies and they don’t leverage your third party type tools so a couple examples here would be like kore.ai and vast. a and if you put a if you put your rigs on there and pay attention to what people are doing over the past year a majority of

The work has been actually just mining other cryptocurrencies not actually performing any AI tasks so while AI is a trend that you will see in names in practice when these things are launched and utilized they won’t be utilized a majority by AI at least for now because AI is one more profitable

For GPU miners to do on the private side of things and two just like obviously not being utilized in the General market the regular retail Market it’s not like a VPS industry where you have developers that are spinning up you know single core two core nodes with maybe four to 8

Gigs of RAM to run some Ubuntu code that’s not how it it it is working right or some bash script right I mean or run a test website that that’s where like a lot of the virtual private server stuff came along and obviously flux capitalized on that early on so th this

Is really I think the name in it of itself will be trendy but the actual use of it will not be what we say it is and get some water there so this is like basically the AI power grid from what I can tell at the

Very base of it is going to be what we see coming out over and over and over again now you obviously if we wanted to go over this individual white paper we could look at their specific transition to proof of useful work how they’re going to do it obviously they’re

Going to want to add in AI tools Etc and we’ll have to see what that works like it it looks like if you look at like uh something like vast. basically you’re going to have some sort of Docker enabled pull and you can pull whatever Docker image you want whether that be an

A Cuda version with stable diffusion pre-installed it’ll spin up that Docker pass through on the host machine and then you’ll be able to do that work uh cha. a is a great example if you want to get in there I’ve been messing with that Marketplace a lot you can do a lot over

There um I do think that chor is uh a little bit more has been moving towards uh encouraging mining rentals over what is really interesting just just my humble opinion is that what CLA did in particular with their Marketplace is make mining rentals more accessible and more customizable than uh the current

Offerings like nice hash or mining rig rentals because with the docker pull system you can spin up however you want including like complete Docker images of hios hop in there and mine whatever you want modify it to mine whatever you want and you have access to the full tools

Right where whereas you know if you go on to nice hash it’s like oh I’m going to rent this adjust this this H this uh algorithm and I point point it so it’s a little different it’s it’s it’s uh I think once again the things it’s it’s

Like a mask right we’re going to put AI in the name but the reality of it is we are being Innovative here but we’re being Innovative in a space that was already here we’re just naming it something else to make it sound like it’s fresh and new this is all all going

To happen happen I think with the NF like on the other side of things with proof of stake and all that I think that’s going to happen again in the nft space and the def5 space all of it’s going to just get recycled and repurposed right like you look at like

D5 projects that are uh popping off right now um cyria for example cyba that one in particular what is it doing it’s touting like the key terms of AI right that’s what it does is it actually going to have any relevance to towards Ai No are the individuals purchasing it do

They know anything or what they’re looking for to see if the project is actually moving in that direction a vast majority of them don’t um so you know I think I think when we talk about like what here here’s here’s what I think right in general is that you have

A lot of talking points that projects are going to use to Skyrocket and having the knowledge of what those talking points are will give you an advantage in the market to capitalize off of retail consumers just purchasing stuff that they know nothing about pretty much the way that rolls

Down it’s like a construction worker buying Microsoft stock versus Apple stock okay so there’s apparently been going on of a lot of issues on MEC and in particular I I think that this is just going to be put here as a forewarning once again to not hold your cryptocurrency within a centralized

Exchange we’ll key that term once again not your keys not your crypto make sure you’re keeping your crypto you know off of centralized exchanges Etc there have been reports now of a lot of issues with you know basically mexc holding crypto currency from individuals

And on top of that we also had a Kur fuffle of the maxc Twitter account being deleted uh cr1 1337 so Cr Elite over here said the number of people getting problems with mexd official in the last few weeks is huge they also froze the account from a friend of mine he

Deposited Bitcoin worth low six figures in USD bought XMR and tried to withdraw the first withdrawal went out however after the second they block the withdrawal function it’s a disgusting tactic number one luring people who care about their privacy with the fact that there is no mandatory kyc and a generous

30 Bitcoin per 24-hour withdrawal limit to wait for the big deposit freeze the account and demand kyc without giving any reason three hope that the customer doesn’t do kyc and other stuff they could want like giving proof of funds and four if successful just keeping the

Funds and so this is a a problem that is kind of funny because what it is is you have a centralized system that is tting non kyc that then requests kyc that’s the idea in an idea or or in an attempt to EXA basically in an attempt to steal the

Funds from someone who might be doing something illegal right that’s basically what you’re doing or someone that just wants to protect their privacy it’s pretty insane mexe has had pretty crazy practices over the past two three years obviously things that we’ve seen in their uh uh oh Futures right and their

Futures Trading and all of that uh there it’s been a a pretty contentious exchange across the board I haven’t had any any trouble with withdrawals however I’m not withdrawing you know that level like figures in in XMR i’ I’ve never tried that I I don’t think I ever would

Um I I would personally I don’t think I would ever send six figures to a cryptocurrency exchange I don’t know uh that’s just me I I can’t think of a reason why I would need to um any Hefty purchase I feel like people would accept Bitcoin for but I don’t know just a

Reminder once again to protect your funds and not keep a large amount on an exchange let’s talk about a new GPU release that’s coming out the Asus RTX 470 supera has been leaked and it features a 16pin power connector Asus is gearing up for the release of the Dual

OC Mo model based on nvidia’s upcoming 4070 Super Series a leaked image of the new card has surfaced on the xplatform courtesy of momo us the RTX 470 super is pois to be the most intriguing super card slated for the launch next month equipped with the ad uh a104 350 GPU boasting

7,168 cacor the card has now been officially confirmed to support 12 GB of memory which sounds good obviously maintaining the exact configuration of its predecessor but obviously like we’ve talked about with the RTX 470 is the small bus width and I like big buses and I can Cann not lie and

This is something that Nvidia started doing quite some time ago but really has started squeezing that bus width on the 4 40 series where at 3070 we can get a 256bit bus you know and we can get from our perspective pretty good hash rates the compensation here is supposed to be

Between you know essentially the the speed of the memory compensating for the smaller bus widths which does in practice actually turn into same hash rates on a lot of these algorithms that are memory intensive like ET or Auto Leos or whatever it may be however it

Comes at a price dis sorry a power disparity because you end up using in a lot of cases more power on that memory side less power on the GPU core side here more frequently but I wish we would have seen a large bus width with the higher memory speed in general because

We didn’t get get huge improvements in the mining space from the 30 series to the 40 series and the 4070 super doesn’t seem to be resolving this all right sorry had to drink some water so 470 super uh we are looking at from a memory intensive mining perspective side of things

Improvement however on the core side of things for mining things like Pyon uh whatever it may be an enticing option because we are getting more cutic cor and potentially obviously I think along with that we get a higher core clock which means that you have that option

Obviously the 470 TI I believe and all that stuff on a lot of these core intensive algorithms have been good let’s go look real quick just to give you an idea if we did I don’t know we’ll do pyin because it’s easy we’ll hit the benchmarks right 470

TI um reason it being over the 470 is it has a higher core clock so there you go um pretty much the same as the 4090 though so 40 series does really good when we’re talking about core intensive algorithms but then if you look at you know anything that is

Not we could do Ergo and hit that Benchmark well it says the 470 TI is I need to go retest that no way when I I have a 4070 TI what is this saying it got no I did not get anywhere close to 77 Watts did you guys get 77 77 Watts

No way I didn’t get anywhere close to 77 Watts on the 4070 TI I got like 130 like you normally get anyways I guess I’m going to go review that and see what I’m doing wrong I’ll definitely have to check that out but usually yeah the the the the 40 series has been

Basically the same as the 30 series as far as efficiency see if you continue to go down that route but there you go um the reason we talked about the trends in aipg this this go around is because aipg has been hitting the top of

Hash rate. so I thought it was a good time to discuss that especially moving into the new year the expectations on bitcoin all that sort of stuff we do have minor releases that did happen this past week SRB minor multi 2.4.4 which added Pyon hash as to be

Expected on AMD and Intel gpus they added you know Blake 3 deckd for GPU mining on all gpus they added support for dual mining Ergo and Pyon on all gpus and they added or actually sorry for AMD and Intel gpus I think that’s because they already had the Nvidia side

Of things they added the Ergo Blake three duel for all gpus et and Blake 3 eash Blake 3 all those ethereum now hypa obvious support there across the board just adding more support that we’ve seen in other miners that has already been released you know like I think we’ve had

Um where is it h yeah anyways we’ve had ET B3 and Blake 3 uh drid support from uh bz minor for quite some time now so so it’s just a competitive thing between SRB and uh bz minor in that particular case one zero minor version 1.2.8 minor hash rate efficiency

Improvements on DX which needs to be tested I suppose fix an issue with zil that could result in duplicate shares overall improvements on stability of DX which is definitely a welcoming uh the a welcoming change log entry hopefully that is accurate and some minor bug

Fixes it says make sure to check the nr2 argument especially for 30 series and 40 series if you have manually set NT it might be better to remove it and let the minor find the best value on some gpus like the 4090 you might get more hash rate without losing efficiency by

Increasing the memory clock there you go let’s go ahead and get into questions and answers for the day remember super chats are never required always appreciated first to be answered uh tagging at son of a tech will highlight the message orange making it easier for me to

Read hereby service says time to upgrade get off the 1060s what’s wrong with my 1060 the spec mines they made me more money than anything else you must be tripping bro 1060s are the best spec mine easy 1063 gig baby all right um let’s see sub says that’s attack what should I

GPU mine you should GPU mine what’s most profitable and convert to something you prefer uh are you mining aipg no I am mining what’s most profitable son of a rabit panda says asch Merry Christmas I bought an RX 690xt in 2021 for 1500 USD should I now buy a 79 7090

XT for 800 USD to DCA on Silicon prices or wait for the 8890 to DCA on it there are if you are specifically purchasing for mining there are better deals I think that you can purchase for mining um than say a 7090 or or I think you mean 7900 XT yeah 79

Other than a 7900 XT or a um uh 4090 I think that there are better deals out there um and by and large for example like we’ve seen like I was just talking about the 30 series isn’t really that far behind the 40 series and so paying a

Premium on those prices doesn’t make a lot of sense I mean the gpus from the retail side of things that I was buying were the intels just because of the the the amount of memory bandwidth that is available to it um but now recently I found a lot of options that just like

People are starting to drop out and you can find a lot of good prices obviously I was buying the S1 1995 T’s as well um stocking up on those you know people will be like why don’t you buy the s21s or well there’s power issues with those

Or let’s say the s19 K Pro or whatever and it’s because why why would I why would I spend more money on something that is new but not that much better when I have the option of buying something and putting in just a minimal amount of work to bring up its

Efficiency uh it doesn’t it doesn’t make sense I mean I buy a 4090 to play video games and record videos on you know but I don’t I’m not I don’t think I would throw I I also didn’t like my 3090 rigs that much uh 309s like a majority of

Them have fan issues they all run hot uh I’d much rather just have like two 307s than a 3090 that’s how I feel about it and you can get 370s cheaper now so El Moi says asch do you think Bitcoin as6 will be cheaper after the having I

Mean that’s what that’s what bitm was planning on with the announcement of the S21 right they were planning on uh us to see a reduction of the price of Bitcoin but uh in the back channels I’ve heard you know through the gra find that

Bitmain feels like on a on a like a on a executive level that they made a mistake announcing the S21 too early they were planning on what we were talking about at the be beginning of the of the show today where they were planning on you know Bitcoin to retrace

Again before the having and then the having to put more pressures on miners so they setting a good uh a good price point for the s21s that make it enticing given those current circumstances and then they are now regretting that which means that like I said history doesn’t always repeat

Itself but it always Rhymes I think they might have missed the rhyme a little bit and they feel like they would have had more uh more Revenue potential had they not announced that too early uh sub says have you considered creating your own crypto I’ve created tokens I’ve

Created pair of chains um you know I’ve I’ve forked them I’m not a developer to the point of being able to build one from the ground up and I don’t think that there really any relevancy to forking cryptocurrencies for the most part the only one I would have

Considered would have been like forking Caspa and making it you know Asic resistant but other people are going to handle that I’m not like a a great coder or anything Anonymous Miner says that’s something think I just got some 370s I was wondering if you had good overclocks

For capow for Bitcoin stacking from uh altcoins let’s see I mean I don’t know what you’re asking necessarily when you add the Bitcoin side but for overclocks like now with hash rate. like don’t even like you don’t even need to ask me just go to

Hash rate. and pull it up and press the copy button and paste it into the LOL extra configs it’s like it’s so simple these days you just grab it and go laib says that’s think I’m buying 370 uh and a 3900 X whenever I find them on local markets for Facebook Marketplace

Yeah I mean like a lot of 370s were hitting for a little while pretty cheap but you had to buy them through those kind of platforms right Kil BOS says that’s somech some cards want to stay locked at 810 me Envy tool default works but after a reboot they lock at 810 again

I don’t know why they’re locking have you put it in a completely different system that’s what I would do and a lot of the 370s have dual bio switches too you could check that and swap it over if it doesn’t work putting in a new system but logic would dictate

Take it out of the system I have it in put in another system to double check shidy says that’s son of a tech uh remember when I bought 2370s for the price of a 470 and you told me it was dumb I do not remember that I don’t think that the 370s is

Cheap enough I still think 30 series should be cheaper aren’t we still like if you can do Facebook Marketplace you can find them but I think like on the retail Market they’re still too expensive scale says thank you for all the hard work remember to take a break

And enjoy life I did this weekend I took like three days off it was amazing also I don’t I don’t have a day job for a week so we’ll be working I got to get some mining rigs up uh Merry Christmas yes sir we’ll keep moving forward

I’m going to call it for today get back to the family the house is a wreck it looks like uh like it looks like Toy Story happened you know what I mean Toy Story happened in the whole house so we got we got to go get these toys under

Control troll uh I will be making a guide on locals tonight that should be coming out uh posting a guide over on locals at son of tech. locals.com for an unmentioned project and then we will be doing a I’ll be getting these new PS5 uh miners up so I got to flash a

Bunch of nvme drives I’ll see you guys next Tuesday don’t forget gra a supporter over at sonof attack. lal.com and purchase the crypto mining ecourse at sonof attack.com I’ll see you next Tuesday