[REQUEST] Info or TLDR on Theta Coin

[nlinecomputers]

Ok, I have a client who is interested in a cryptocurrency called Theta Coin (I've never heard of this one.) and wants a high-end PC to mine it, though he says it is not mining, and he wants to be able to use the machine on the side. Does anyone deal with mining this coin? What should I quote him? Or what vendor in the US can I point him to get a good rig? I don't really do custom builds and I have zero interest in cryptocurrency.

 

[GTP]

From the little research I just did it appears you need a ASIC rig. It uses the GPU to mine so similar to Bitcoin?
You can also join a "pool" but I guess that would be a slow way to mine.

Some info here

 

[HCHTech]

I'd say that his desire to use the machine on the side is a conflicting goal with crypto mining. There are too many altcoins to keep track of, so I don't know what hardware is necessary, but I assume based on 30-seconds of research ( ) purpose-built graphics cards at this point, and those are quite obviously over-priced and in very short supply. From one of the how-to sites I found:

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Although it is entirely possible to mine THETA on your computer, you should consider investing in the ASIC mining setup if you are serious about cryptocurrency mining. Actually, the best way how to mine THETA is the gpu. Anyway, if you really want to go with the computer way, try to join some miner pool.

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So yeah. A half-dozen of the most expensive graphics cards on the planet if you want to get any real traction. $8K conservatively and they're all out of stock. He would probably do better just buying the coin with the money he would have spent on a rig.

 

[sapphirescales]

He would probably do better just buying the coin with the money he would have spent on a rig.

This is a common dilemma. The only reason I was willing to mine Chia was because I already had the server and I can use the extra hard drives and SSDs afterwards. The only thing I bought that I technically didn't need was the second CPU, but it's always nice to have more PCI-e lanes so that's not a waste either.

 

[nlinecomputers]

You can also join a "pool" but I guess that would be a slow way to mine.

Honestly I think that is what he is aiming for.

The theta token website also mentions sharing video streams. From my quick read, it sounds like a way to view(steal?) streaming services by rebroadcasting them over the pool network. I think he also is wanting to do that.

 

[Nathan Igo]

Theta has reached proof of stake now and completely unminable no matter how much money you throw at it as there are no new ones being created.

He may be thinking of staking the coin for Theta fuel which is a sub of the actual Theta coin. Just to stake I believe he has to buy 1k of the actual coin and keep it then setup a machine to stake it. Staking involves a bandwidth and video transcoding process all depending on the actual traffic so pretty much any computer with a high speed (1Gbps minimum or the task will go to someone with that). The better the computer the better your chances are at getting picked for the job in staking. If your internet isn't up to par you will gain nothing from staking.

*Ethereum will be in the same boat about the end of this year if the asics get out quick enough so hopefully these small shops unload their gpus.

 

[GTP]

Honestly I think that is what he is aiming for.

The theta token website also mentions sharing video streams. From my quick read, it sounds like a way to view(steal?) streaming services by rebroadcasting them over the pool network..

Yes, I got that impression as well, along with some fairly spurious claims about improving video security.
Imo, I think he should do some more research to find an alternative that doesnt sound so dodgy.
However, to mine sucsessfully and efficiently he's still going to need a high end PC.

 

[GTP]

Found this on Steam.
Cryptomining Simulator looks like a bit of fun?