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Tech - Crypto mining

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#1
I've just started researching 'mining'. I'm using an old GTX 550 ti, it produces about 20 sol/s. Using BitcoinZ Miner for windows.

I'm just trying to find some clarification on a few things.

Wallets... I'm pointing the miner @ my BTCZ desktop wallet, and I'm seeing no increase in coins. (I've only been doing this for 2 days, probably 6-7 hours combined actual mining time) I did exchange some of my LTC holdings to an exchange that let me buy some BTCZ, I sent a small amount of BTCZ to my wallet address and it seems that is working correctly.

Miner.... I was using visciousminer pool at first but it seems they went down. Now I'm using the btcZpool.com pool. Here's my stats I think the miner is pretty straight forward. This particular one has a graphical user interface so thats why I'm using it. What are some ways to crank out more sol/s? Different miner? Overclocking my card? (would that be safe, Im running at a constant 71C when the miner is going full time)

hardware.... How long is the lifespan of a GPU that is running 100%? Does anyone have any experience with mining that long? Are my GPU's going to burn up within a year? Having different manufacturer's of 1080's isn't going to affect my mining efficiency is it? I'd like to keep my eyes open for good deals and get them as they come along. I bought an MSI Geforce GTX 1080 8gb from newegg for $530 after using some credit card points.

Also, on a bigger picture perspective.... Why is mining BTCZ profitable when some others aren't? How do you anticipate if it will not be profitable anymore? If the value of the coin goes up on the market, shouldn't my profitability coincide along with the coin price?




I'm building a mining rig. It'll be an 8GPU (GTX 1080) setup. My plan is to get one card for now. Get this whole process down until i'm confident I'm not going to screw something up due to inexperience. Then I'll get 2 more cards, wait until those pay themselves off and then consider upgrading the rest of the rig. Worst case scenario, I'll have a few pieces of obsolete hardware (the processor for the mining rig is a $50 celeron) and I'll have to sell 2 GPU's and keep one for myself! I've *heard* that the GTX 1080's can make up to $150 a month mining at the moment. So, at about $500-600 a pop, they'll pay for themselves in a few months.
 
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#2
First of all - there are a multitude of various pools you can use, and if you're not specifically interested in BitcoinZ for any particular reason, you can probably easily make a way higher profit. With that said, a GTX 550 Ti will not produce a big hashrate (about as low as 1,5% of a GTX1080) and I'm confident that the power you spend costs way more than what you'd make from it. Without knowing the specific details of your pool, you would probably need to mine for a month or two on any pool to reach the minimum payout levels which is why you're not seeing any updates at all in your wallet.

8 GPU rigs have their bonus, but rest assured that Windows has a lot better profit switching mining software than Linux has, and Windows will start to fuck up the more cards you put into it, and 8 are very likely to cause you headaches unless (or even if) you have mining specific motherboards (like https://www.asus.com/Motherboards/B250-MINING-EXPERT/ ). I would go with a carefully planned 6 GPU-rig to get the best out of both worlds (remember that not all motherboards with 6 PCI-e slots can actually use them all, a dumb mistake I made the last time). You will also save a LOT on the PSU costs if you decide to run 6 cards instead of 8, especially if you want to use 1080 cards that use a lot of power, so it doesn't automatically get much more expensive to go 6 GPU instead.

Remember when building the rig that spare parts are good, but you will NOT enjoy having an old HDD instead of a fresh SSD when you get into troubles with it (and you will).

Any questions, feel free to ask here (if it could be good for common knowledge), in PM's (if it's personal) or on Skype or whatever, I'm doing this fulltime now and have managed to get a fair bit of experience. I'm also trying to sort out a few software niches for myself in the crypto market, one which will be very handy for mining statistics in the future if all goes to plan.

Edit; Also, remember NOT to get GTX 1080 Ti cards, as they are way more expensive than the normal 1080 cards and have a different memory setup, which actually makes them slower for mining in many cases (although of course a lot better for gaming).
 
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#3
Awesome! Yeah, i figured the gtx 550 ti wasn't great. But I wanted to try all this before i committed to new equipment.

Another question that i'm not sure about.. Does mining take much bandwidth? I have 250GB data cap where I live so.... that could be a game changing factor in whether i actually end up ramping up to do this or not.

Also, how do I determine the efficiency of a PSU? I bought (2) 80PLUS 1000W PSU's off Amazon and didn't think about efficiency until after the matter.

Thanks again for the help! much appreciated.
 
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#4
You can run an Antminer S9 (the fastest ASIC on the market) on around 2,2 GB data/month from what I've heard, so that wouldn't be a problem with a GPU rig (apart from program updates etc).

The PSU's can be hit and miss between different brands, but try to make sure you buy gold or platinum standard ones. Too little power can cause instability or blackouts, so make sure you get the dimensions right rather than trying to save a buck.
 
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#5
Your gonna end up spending more in hardware and electric than you will benefit from mining.
 
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#6
You can run an Antminer S9 (the fastest ASIC on the market) on around 2,2 GB data/month from what I've heard, so that wouldn't be a problem with a GPU rig (apart from program updates etc).

The PSU's can be hit and miss between different brands, but try to make sure you buy gold or platinum standard ones. Too little power can cause instability or blackouts, so make sure you get the dimensions right rather than trying to save a buck.
what exactly do you mean by dimensions?

gah... misread your post. I thought you were talking about GPU's still... I've got 2000w of power for 1500 demand. (two 1000w PSU's)
 
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#7
Everyone seems to be on the craze again for bitcoin because of the price sky rocketed. I don't want to put you down on it and you should decide if you actually want to do it or not.

Mining takes awhile. Your not going to get anything for awhile, so if your expecting to get bitcoins within the few months on a test rig your only kidding yourself. People who just want to try it out have spent $5k on equipment and have seen their electric bill go up another $200 - $400/month. Months down the road they still don't have anything and your like 10k in the hole with nothing to show for it. I know a guy who cashed out his 401k bought all the hardware and his life went to shit. It's not worth it and the price of bitcoin will just magically drop.
 
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#8
Everyone seems to be on the craze again for bitcoin because of the price sky rocketed.
i'm not touching bitcoin at all. I dont believe in it, its got the advantage of being the first coin is all. Its obsolete. LTC, or ETH maybe. But I'm going to be mining Altcoins primarily.
 
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#9
Your gonna end up spending more in hardware and electric than you will benefit from mining.
No, not at all. But he's going to have to spend hours on learning how to maximize profit. Just make sure you have a plan for reinvesting and don't just buy new miners for everything, make sure you actually use the income for anything. Otherwise it's just further sitting and speculation like most of the people in the business, and that's what might (and will) cause deflation and a bubble burst in the most targetted crypto currencies in the end. If noone uses a crypto currency for anything, it doesn't really hold any value.

I would advice that you look up AwesomeMiner if you're running a Windows 10 box. It does take a bit of work to get it running, but it beats all competition if you supervise it correctly and take a few pointers from those experienced in the business. :)
 
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#10
No, not at all. But he's going to have to spend hours on learning how to maximize profit. Just make sure you have a plan for reinvesting and don't just buy new miners for everything, make sure you actually use the income for anything. Otherwise it's just further sitting and speculation like most of the people in the business, and that's what might (and will) cause deflation and a bubble burst in the most targetted crypto currencies in the end. If noone uses a crypto currency for anything, it doesn't really hold any value.

I would advice that you look up AwesomeMiner if you're running a Windows 10 box. It does take a bit of work to get it running, but it beats all competition if you supervise it correctly and take a few pointers from those experienced in the business. :)
Yeah, my plan is to mine for a few weeks, then re evaluate what coin to be mining, and probably transfer the mining produce to LTC or ETH as I feel they are pretty solid. I dont think i'm going to venture past an 8GPU rig (if I get there) for a while as I have no means of providing a room with sufficient cooling to run the equipment. I'd have to buy a minisplit that will be dedicated to one room if I want to go that route.
 
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#11
I'm actually considering starting up a small service where I'm running peoples' miners remotely for 10% of the profit. I've been managing to run at around 20-25% (hell, I even run the Antminer L3+ about 12% better than the best people I've seen) more production than most people around me. I'm basically doing it fulltime (more like 16 hours per day actually) anyways, and running more miners isn't a big work in itself, since gathering the statistics and calculating them in real time is what takes the most of my time. I'm also having a friend of mine working on creating a fully fledged mining statistics software with way better statistics possibilities than the pools give you., he just doesn't know yet exactly what he's creating as I'm basically releasing my road map to him step by step.

Depending on the rig setups I also mine differently (using more different pools with bigger setups etc) for maximum efficiency.
Keeping an eye on whattomine.com , AwesomeMiner profit lists and PoolPicker.eu will give you a decent start though.
 
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#12
I'm actually considering starting up a small service where I'm running peoples' miners remotely for 10% of the profit. I've been managing to run at around 20-25% (hell, I even run the Antminer L3+ about 12% better than the best people I've seen) more production than most people around me. I'm basically doing it fulltime (more like 16 hours per day actually) anyways, and running more miners isn't a big work in itself, since gathering the statistics and calculating them in real time is what takes the most of my time. I'm also having a friend of mine working on creating a fully fledged mining statistics software with way better statistics possibilities than the pools give you., he just doesn't know yet exactly what he's creating as I'm basically releasing my road map to him step by step.

Depending on the rig setups I also mine differently (using more different pools with bigger setups etc) for maximum efficiency.
Keeping an eye on whattomine.com , AwesomeMiner profit lists and PoolPicker.eu will give you a decent start though.
English please:argh:
 
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#13
Everyone seems to be on the craze again for bitcoin because of the price sky rocketed. I don't want to put you down on it and you should decide if you actually want to do it or not.

Mining takes awhile. Your not going to get anything for awhile, so if your expecting to get bitcoins within the few months on a test rig your only kidding yourself. People who just want to try it out have spent $5k on equipment and have seen their electric bill go up another $200 - $400/month. Months down the road they still don't have anything and your like 10k in the hole with nothing to show for it. I know a guy who cashed out his 401k bought all the hardware and his life went to shit. It's not worth it and the price of bitcoin will just magically drop.


I stayed away from Bitcoin, but went with the supply chain route on investing and made the smart move to put some options down on Nvidia before the BTC prices started skyrocketing like crazy. I'm sure I made more than what it probably takes 2-5 years running a mining operation or getting directly involved with BTC (even after the ~44% in taxes I'll have to pay on the profit from those options). Although, I really got fucked on options I put down GE last year.

Staying away from BTC for now.
 
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#14
How long have you been doing it fulltime Dretski? Any information you can part with as to why you're more efficient? or is that a trade secret?!

What's your electricity bill like a month and whats your kwh rate? Do you have a dedicated room for the equipment? How do you cool it? How much time do you spend a week figuring out what you should be mining?
 
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#15
Everyone seems to be on the craze again for bitcoin because of the price sky rocketed. I don't want to put you down on it and you should decide if you actually want to do it or not.

Mining takes awhile. Your not going to get anything for awhile, so if your expecting to get bitcoins within the few months on a test rig your only kidding yourself. People who just want to try it out have spent $5k on equipment and have seen their electric bill go up another $200 - $400/month. Months down the road they still don't have anything and your like 10k in the hole with nothing to show for it. I know a guy who cashed out his 401k bought all the hardware and his life went to shit. It's not worth it and the price of bitcoin will just magically drop.
That's because most of them feel super rich when they have a million dollars in Feathercoin and they blow it on dumb trading to get even richer. If you run it as a business with costs out and profits in all by dollars or euros to your bank account, it changes the story. See, the problem here is that people really, really want to avoid paying capital gains tax etc, which means they never cash out. I get so many questions in real life and on the web about how to avoid tax from cryptos (over half of the questions I recieve for new clients goes along this way in fact), that my standard answer has become "avoid being a cunt, you made money - pay for it".

My miners currently in the house (I also own parts of a few Antminers that are placed with my brother in Sweden and some experimental cloud hashing contracts, but very small sums) use about 220 euros/month of power atm, they cost around 5000 euros to build, and I've had a revenue of 2200 euros (profit of roughly 1800) in the last 2 months counted together. I put this into a pre-loaded debit card and I use it to pay house bills, food, dog supplies etc, which means they never reach the bank and cause me troubles there either. A certain amount of the produce I save for reinvestments, and I'm literally trying to make a bomb-mat).

Use it as money on a monthly ratio and make sure you mine profitable coins, and you'll be very fine. If the machines turn unprofitable at some point, there's nothing that stops you from turning them off, it's not exactly like you're stuck with a power bill for all your future.

- - - Updated - - -

How long have you been doing it fulltime Dretski? Any information you can part with as to why you're more efficient? or is that a trade secret?!

What's your electricity bill like a month and whats your kwh rate? Do you have a dedicated room for the equipment? How do you cool it? How much time do you spend a week figuring out what you should be mining?
Full time since September basically, that was at the point where I thought enough people were coming into the industry to actually make it boom and grow widely popular. I'm still seeing it grow more popular but for all the wrong reasons (I mean, when people loan up their houses to buy fucking Bitcoins, come on?), but I'm also seeing how majorly important this invention is for human freedom and 3rd world economies, which is where we will end up in time. It will most likely not be Bitcoin, but the cryptos are here to stay. With a decent mining setup, I'm not going to lose it all over a day like buying a bad stock or a bad currency.

There is no secret to it apart from strict control and a ton of Excel documents with my own statistics. I have an extremely savant brain for statistics, but the downside is that I can't generally explain it to anyone. My power bill currently is around 220 euros/month, but that's sort of irrelevant when I'm making a fair bir more than 1000 from my internal rigs. My aim is to go full solar in the future though, I know that I can always use solar power anyways if mining at some point would turn completely unprofitable for one reason or another.

I have a very old portuguese house, and they are built to keep the heat out, not in. I'm happy for any extra heat I get inside this time of year, and I have very cool indoors spaces even in the summer, so I've literally been trying to move them to where the dogs can't reach them but at the same time recieve the bonus heat from them. The sound levels are negligible - my wife wakes up for a water drop in the kitchen, and she sleeps 3 meters away from a miner.

I've never had a "normal" job in my entire life in fact, "full time" for me is from when I wake up until I go to sleep. I spend probably 12-16 hours/day doing this, although not strictly.

What I have found the biggest issue, is actually the electrical infrastructure in my house (the fuses, the wall cords etc). I have loose live cables and shit coming out here and there, and the power lines look like sewing thread. I will be needing to invest heavily in this, but I was planning to do that anyways. At least now I have the revenue to know that I can save up for it and pay it in cash, the way I always do.

My brother lives in a 2-room appartment, and his induction stove will blackout his place unless he pauses the miner first since they work on the same fuse.
 
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#16
If the machines turn unprofitable at some point, there's nothing that stops you from turning them off, it's not exactly like you're stuck with a power bill for all your future.
and selling the equipment if it turns to this as well... It minimizes your losses. I dont think a $650 1080 will be selling for $250-$350 any time soon. Even if the crypto markets take a good dive.

so, did you start a business to run all this through Dretski?
 
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#17
No, not yet. But I'm going to do it in the same company as I do my mining further on, I'm still awaiting some support with paperwork (I know how to do it in Sweden, but not in Portugal) to get it all up and running as a serious business with consulting, mining and some software projects (possibly as 3 separate companies owned by a mother company for various reasons).

Exactly as you say ac1d, it is not a huge economical risk buying GPU rigs and you can make very quick profits if you do it right as mining has literally NOTHING to do with hoping for "your currency" go go up, it builds revenues to do whatever you want with. Antminers is a different matter of course, but the Antminer S9's won't turn unprofitable for a long while yet unless someone invents quantum computers tomorrow I think. Antminers should be more of a "bonus project" from your GPU rigs if you're looking to minimize the risks.
 
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#18
I've just started researching 'mining'. I'm using an old GTX 550 ti, it produces about 20 sol/s. Using BitcoinZ Miner for windows.

I'm just trying to find some clarification on a few things.

Wallets... I'm pointing the miner @ my BTCZ desktop wallet, and I'm seeing no increase in coins. (I've only been doing this for 2 days, probably 6-7 hours combined actual mining time) I did exchange some of my LTC holdings to an exchange that let me buy some BTCZ, I sent a small amount of BTCZ to my wallet address and it seems that is working correctly.

Miner.... I was using visciousminer pool at first but it seems they went down. Now I'm using the btcZpool.com pool. Here's my stats I think the miner is pretty straight forward. This particular one has a graphical user interface so thats why I'm using it. What are some ways to crank out more sol/s? Different miner? Overclocking my card? (would that be safe, Im running at a constant 71C when the miner is going full time)

hardware.... How long is the lifespan of a GPU that is running 100%? Does anyone have any experience with mining that long? Are my GPU's going to burn up within a year? Having different manufacturer's of 1080's isn't going to affect my mining efficiency is it? I'd like to keep my eyes open for good deals and get them as they come along. I bought an MSI Geforce GTX 1080 8gb from newegg for $530 after using some credit card points.

Also, on a bigger picture perspective.... Why is mining BTCZ profitable when some others aren't? How do you anticipate if it will not be profitable anymore? If the value of the coin goes up on the market, shouldn't my profitability coincide along with the coin price?




I'm building a mining rig. It'll be an 8GPU (GTX 1080) setup. My plan is to get one card for now. Get this whole process down until i'm confident I'm not going to screw something up due to inexperience. Then I'll get 2 more cards, wait until those pay themselves off and then consider upgrading the rest of the rig. Worst case scenario, I'll have a few pieces of obsolete hardware (the processor for the mining rig is a $50 celeron) and I'll have to sell 2 GPU's and keep one for myself! I've *heard* that the GTX 1080's can make up to $150 a month mining at the moment. So, at about $500-600 a pop, they'll pay for themselves in a few months.
Stages of learning Crypto
1st Learning -Use the old card and rig to learn. You might earn a little crypto but you will pay more in electrical costs than you will earn with such an old card. Once you get the knowledge of wallets, mining, and exchanging under control you will build your crypto rig.

2nd Building - Get a Mining board, the best on the market is the 13 gpu miner from ASUS as it has been the best card out of about 10 motherboards I've used for mining. Get GPUs, AMD is generally the best, but honestly its all about what you CAN get. My dedicated mining computer is 2 Vega, 3 RX 580s, 2 RX 570s, 1 RX 470, 3 GTX 1060s (all on one computer). Yes it is not ideal but I was able to buy each of these cards on special at low prices. KEEP ALL BOXES! You will resell these boards and buy other cards that you like when market prices permit. DO NOT buy overpriced GPUs just to get them all to match. Things to watchout for are PCI-E risers, Wattage (anything over 1800W requires a 20A breaker), and Market prices.

3rd Trading - Now that you have a couple crypto you can trade them around to get the one you like. Mine the most profitable (http://whattomine.com) and exchange it for the coin of choice. Personally, I like monero and litecoin, but to each his own. I highly recommend mining on Mining pool hub and using the auto-exchange feature for litecoin. I find that the low transaction fees give me the most flexability while retaining 100% control and not waiting on a pool to payout. Monero is privacy driven and as such has high tx fees, so that is why I only trade for Monero in bulk. Litecoin you can do very small transactions all day long with very little fees.

Hopefully this helps,
Noob
 
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#19
Stages of learning Crypto
1st Learning -Use the old card and rig to learn. You might earn a little crypto but you will pay more in electrical costs than you will earn with such an old card. Once you get the knowledge of wallets, mining, and exchanging under control you will build your crypto rig.

2nd Building - Get a Mining board, the best on the market is the 13 gpu miner from ASUS as it has been the best card out of about 10 motherboards I've used for mining. Get GPUs, AMD is generally the best, but honestly its all about what you CAN get. My dedicated mining computer is 2 Vega, 3 RX 580s, 2 RX 570s, 1 RX 470, 3 GTX 1060s (all on one computer). Yes it is not ideal but I was able to buy each of these cards on special at low prices. KEEP ALL BOXES! You will resell these boards and buy other cards that you like when market prices permit. DO NOT buy overpriced GPUs just to get them all to match. Things to watchout for are PCI-E risers, Wattage (anything over 1800W requires a 20A breaker), and Market prices.

3rd Trading - Now that you have a couple crypto you can trade them around to get the one you like. Mine the most profitable (http://whattomine.com) and exchange it for the coin of choice. Personally, I like monero and litecoin, but to each his own. I highly recommend mining on Mining pool hub and using the auto-exchange feature for litecoin. I find that the low transaction fees give me the most flexability while retaining 100% control and not waiting on a pool to payout. Monero is privacy driven and as such has high tx fees, so that is why I only trade for Monero in bulk. Litecoin you can do very small transactions all day long with very little fees.

Hopefully this helps,
Noob
I would say that GeForce GTX 1070 is probably the best bang for the buck on the market today, as GeForce tends to perform better on a lot more algorithms. However, GTX1060 produces more hash/watt generally and could be said to be the best mining cards on the market for that reason alone. RX cards could possibly pay themselves faster by being cheaper, but future options simply aren't as good as for GTX cards.

I generally have the hashing power to reach a payout per day wherever I mine, which means I can alter between 4-5 different pools comfortably at any given time. MiningPoolHub is a good option though, I use Ethereum and my wallet with Blockchain here, because Blockchain is an easy wallet with access to BTC, ETH and BCH, and I need easy access to BCH for buying Antminers.

Fundamental trading tip by the way: Buy BCH before they release new Antminers, as they are only sold with BCH. People tend to stock up before new batch releases to pay them.
 

q8reflex

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#20
What if electricity was FREE for you, can you make a good buck out of this unknown project to me? My only problems is somehow slow internet speed (Around 5 to 10mBit/sec)
 
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#21
What if electricity was FREE for you, can you make a good buck out of this unknown project to me? My only problems is somehow slow internet speed (Around 5 to 10mBit/sec)
I run a couple of miners and 12 instances of EQ on my 8 Mbit DSL, no probs at all. Wireless internet may cause problems with orphans (where someone already found the solution before you managed to send yours in).
 
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#22
Get GPUs, AMD is generally the best
I thought it depended entirely on which algorithm your miner is running. some AMD GPU's are better, but I thought that Nvidia's were far better performers. (at least thats what i've read).

Also, what do you mean 'things to watch for pci e risers'. I know I need some for an open air rig, but am I supposed to be looking for a particular quality of riser or something?

What if electricity was FREE for you, can you make a good buck out of this unknown project to me? My only problems is somehow slow internet speed (Around 5 to 10mBit/sec)
Heck yeah! an 8 GPU rig would cost somewhere between $140-$190 a month I believe... thats at .10kwh. So, thats +140-190 in profits that wouldn't come out of your miner's production.
If you've got a work place or something, you should know that i'tll generate a substantial amount of heat...

With that in mind.... don't industrial places have a different kwh rate? like halved what you'll pay at a residence in the same area?

Also, any recommendations on brands for warranties? service? reliability? Somewhere I was reading that the MSI cards aren't as good as EVGA.. the person also admitted to burning up a few cards due inexperience at overclocking.
 
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#23
I thought it depended entirely on which algorithm your miner is running. some AMD GPU's are better, but I thought that Nvidia's were far better performers. (at least thats what i've read).

Also, what do you mean 'things to watch for pci e risers'. I know I need some for an open air rig, but am I supposed to be looking for a particular quality of riser or something?
PCIE Risers are hard to come by during peak demand times like now. Buy packs of 6 as they can sometimes be unreliable. AMD Vega 56 is the most profitable card @ MSRP $400, but that ship has sailed and the prices are now double that. I'm tempted to sell mine and just take the profits from the purchase, but I'll wait till Monero difficulty rises some more before I sell off my vega's. Honestly, any GPU that is a 1060+ or RX 570+ is worth getting. If I sell of my Vega's I'll probably swap them for some 1080 TIs as they have some pretty nice numbers and are availiable. Resell value on GPUs are really high and most times I end up making money on that. Treat your Graphics Cards like assets that produce a little money but generally will appreciate in value when you sell off during a high demand period like now.
 
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#24
Well there is a way you can avoid capital gains taxes...it's not the most honorable way...but neither is the US gov, there are more detailed explanations available but in short: Create an LLC in your name, deduct any and all operating costs (cell phone bill, dinners spent discussing crypto, internet, hardware, annnnything), towards the end of the year loan the amount of profit you have amassed to someone, let them default on the loan, close your LLC as a loss, reopen another LLC with the bad loan wiped.

For the record I don't do this, it's more work than I care to put in because I'm too busy with a thousand other things... but just thought I'd mention it.
 
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#26
PCIE Risers are hard to come by during peak demand times like now.
It seems you've been mining for a while. I think i remember reading about you selling off a bunch of your cards during a bad time in the market. 6 months ago? Did you ever end up selling them all?
 
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#27
It seems you've been mining for a while. I think i remember reading about you selling off a bunch of your cards during a bad time in the market. 6 months ago? Did you ever end up selling them all?
Yeah sold off everything except a 1200 W PSU (these are hard to come by and I'm I kept it), some PCI-E Risers (No point they only cost $10 each), and some racks. Every GPU was sold and I used the old motherboards to build PCs and give them to friends. The GPUs were all sold @ $100+ markup from when I purchased them. I used the proceeds to pay some bills and direct buy Litecoin. Was a very good decision and I made out like a bandit.

This was July/August... I bought back into mining in November. The rise of Privacy coins Zcash, Monero, Zcoin, and Ethereum price spike really made mining a great option again. I started with Vega's @ $400 MSRP then over black friday I bought the RX 580/570 and GTX 1060s all for around $200.

This worked very well for me, but I hit right at the perfect times to really make out. I could see this really going sideways for some folks. I also maximize electricity cost to algorithm as well. Zcoin (LyraRE2) is very effecient to mine even though it isn't the top earner for NVIDIA cards. Equihash (Zcash/ZClassic/Bitcoin Gold) is a top earner but very power intensive. So on my main rig I have it targeted for Zcoin as I don't want it pulling too much watts (1500 Watts compared to 1800 Watts Zcoin \ Zcash). The extra 300 Watts imo isn't worth the little bit of extra i'd get for mining with Equihash. LyraRE2 also puts less stress on the card so I really like mining using this algorithym.

I also really enjoy mining, so much so I might just keep going. To really expand I have to build a shed, put an electrical box, and environment controls to it. That is my dream to have about 80 Cards running year round. I live in texas so this can be dicey during the summer months. Heat is a real problem. I'm still brainstorming on what to do.
 

q8reflex

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#28
Heck yeah! an 8 GPU rig would cost somewhere between $140-$190 a month I believe... thats at .10kwh. So, thats +140-190 in profits that wouldn't come out of your miner's production.
If you've got a work place or something, you should know that i'tll generate a substantial amount of heat...
How much would you earn with 8 GPU rig using alcoins? not talking about the future, let's say the last six months passed.
 
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#29
How much would you earn with 8 GPU rig using alcoins? not talking about the future, let's say the last six months passed.
8 1080 tis would be about $1500 a month in revenue.

8 1060s would be about 600 a month

Sent from my LG-H871 using Tapatalk
 
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#30
I ran my miner overnight on my 1080.. its a little low. (I think they say these can do 600 sol/s. Not sure what that is in hash) Could anyone help me decipher the mining pools stat page for me?

what is luck days?
shares?
and difficulty?
I have no idea what these numbers mean.

Also, I've yet to set up a zcash miner... I dont think BTCZ is the most profitable, but I'll have to get to that this weekend. Ive not had much time during the weekdays this week.
 

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#31
Question: Is NiceHash website/program the way to go or there's a better ways to do it? Or maybe someone can point me to a crash course website/guide? :)
 
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#32
Question: Is NiceHash website/program the way to go or there's a better ways to do it? Or maybe someone can point me to a crash course website/guide? :)
This forum has a lot of knowledge, dating back to 2014. It's primarily BTC but you'll learn a lot.

https://bitcointalk.org/index.php?topic=789369.0

There are also altcoin sub forums, but the Kano thread has a ton of mining info.
 

q8reflex

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#33
This forum has a lot of knowledge, dating back to 2014. It's primarily BTC but you'll learn a lot.

https://bitcointalk.org/index.php?topic=789369.0

There are also altcoin sub forums, but the Kano thread has a ton of mining info.
Thanks a lot, only reason i'm into this is due to the fact we have an office with flat-rate power fee's which we pay yearly. Other reason is i have enough PC hardware knowledge.
 
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#34
Miners bad!
The video card I want is $100+ more than it should be thanks to miners!!
Send cash. :cool:
 
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#35
How can I get up to 600 sol/s. I'm currently at about 500-560 sol/s running the equihash algorithm on the nicehash miner. I've got my video card clocked +80mhz core and +400mhz mem. I'm running windows at the moment as this is my personal PC. I'm going to be running ubuntu when I get all the parts for my rig.
 
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#36
Miners bad!
The video card I want is $100+ more than it should be thanks to miners!!
Send cash. :cool:
What is your Litecoin address? who uses U.S. dollars anymore? Sounds like the dark ages to me...
 
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#37
I ran my miner overnight on my 1080.. its a little low. (I think they say these can do 600 sol/s. Not sure what that is in hash) Could anyone help me decipher the mining pools stat page for me?

what is luck days?
shares?
and difficulty?
I have no idea what these numbers mean.

Also, I've yet to set up a zcash miner... I dont think BTCZ is the most profitable, but I'll have to get to that this weekend. Ive not had much time during the weekdays this week.
How can I get up to 600 sol/s. I'm currently at about 500-560 sol/s running the equihash algorithm on the nicehash miner. I've got my video card clocked +80mhz core and +400mhz mem. I'm running windows at the moment as this is my personal PC. I'm going to be running ubuntu when I get all the parts for my rig.
Thats a pretty solid hash rate for a standard 1080. The 1080 TI does mid 600s.

I have a brand new Saphire Nitro + Vega 64 and it only does 400 Sol on Equihash ;) Although its Monero performance is 2000h/s to your measly 800.
 
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#39
Thats a pretty solid hash rate for a standard 1080. The 1080 TI does mid 600s.

I have a brand new Saphire Nitro + Vega 64 and it only does 400 Sol on Equihash ;) Although its Monero performance is 2000h/s to your measly 800.
nice, what is the vega 64's profitability a month on monero?

what you're telling me is, it'd be a good idea to diversify my mining equpiment a bit. I've heard amd is better than nvidia at a few algorithms.
 
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#40
nice, what is the vega 64's profitability a month on monero?

what you're telling me is, it'd be a good idea to diversify my mining equpiment a bit. I've heard amd is better than nvidia at a few algorithms.
Monero Difficulty is climbing and Equihash / Ethash are starting to top it even for Vega's now. I don't think its worth it unless you can get a Vega for 400-500 bucks.

To directly address this, it is about $5-$6 dollars a day for a Vega 56. This used to be $7-$9 before the big difficulty jump, but it starting to drop as more folks jump aboard.
 
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