Topic: Help for a beginner (Read 661 times)

ethernet doesn't matter a lot but electricity does it. Mining is a long term activity and anyone should not expect their ROI but it's about how they can get stable income from their mining that cover all of the expenses costs. it's a difficult task for newbies.

It seems as if you are a novice in minning which is very bad. I expect to have gather some valuable information before venturing into minning. You need to consider having  Reliable electricity supply at your reach  and have adequate Ethernet (wireless can do, but Ethernet is the best) service at your reach also.  And try to watch YouTube videos on minning and how iy works so as to be sure you doing the right thing

my pleasure! send me some merits if possible


totally get your point with alternative cooling systems such as water immersion, do you think they work well on places that reach 40 degree celsius on summer?

I guess he was saying based on the fact. Where do you know if there was a place that put cost less than 10 cents for each KWH? that looks impossible to find that place. Even those big bitcoin miners that gets electricity cost around 10 cents get big lost.

Everyone got to start somewhere, don't discourage him by saying that, specially when one wants to try.


Depends, there are places where electricity is free or very cheap..

I will not recommend you mining as you are beginner and now a days mining is difficult due to high electricity price and bearish season, You will never get handsome return so leave it and start trading on small bases.

An alternative to air cooling cards is water or immersion ones. Due to its use, it is possible to increase repeatedly the density of the card installation as well as reduce the cost of electricity at least four times.

well, I agree with your. that cooling it is very important if our friend above would like to have many hardware mining (RIGs) which much more.

preferably, need to consider the cooling I think the air conditioning is not enough to cover the damage on your RIGs

The prices you noted on whattomine are about right with your electricity prices.

It is simple enough setting up mining with your gpu. If you just want to trial, you could go to Ethermine, follow the download miner steps and run it for a day.

Also highly recommended msi afterburner and drop your power use percent to 70 and your memory overclock by 500 plus. It will be more efficient and generate less heat.

There are plenty of mining resources but happy to answer any questions.

Your electricity can make you a good amount of crypto profit in the end of the month but you should try to mine Ethereum related coins like Ubiq and Music or something like that for 3 Gb cards but since you have a 6 Gb card the best option I think is Ethereum classic.

Thanks for the links.
In general, it is necessary to look not only at the project metrics, but at who is in development and what funds are invested.
Usually it is for good developers with excellent funds that everything ends up as it should.

You have very cheap electricity!!
A friend of mine is mining with 3x 1050Ti rigs (6 GPU rigs) and he is paying electricity at 0.15/kw.... he's still making profit but he needs to work hard to find good projects to mine, and  of course, your game needs to be accumulation instead of daily selling.
This guy also has the 3 rigs on his own bedroom (T0), exactly to keep him warm during winter time... the noise is not much, maybe similar to an old desktop PC
On summer time, he moves the rigs due to excess heat...
Having profit in mining is possible... hell, more than possible... but it takes hard work and strategy to acomplish!!
And don't forget that a lot of people here are miners, and they often try to keep difficulty low by scaring away other potential miners...
 

it's not that much about guessing but more about analysis.
cointrader_nic has extensive material on the topic,I suggest you to check his PDF
The Definitive Guide To Altcoin Selection: The 23 Criteria I Filter For Prior To Entering A Position

(way more material on the extensive list I keep here: http://bit.ly/goodbitcoinarticles )

Tell me how to choose or guess these projects? After all, there are no guarantees that modern projects will cost something in a few years.

so..... if wanting to get into gpu mining... bit of advice.. where you need to be looking is multiple cheap cards.. stay away ether and that mess.. unless you have 8gb cards or higher and those 8gb are gonna be too small soon too. so if you are going to focus on the 1060 6gb you are going to want to look for multiple used ones for cheap. and run them into the ground. i did that the last wave.. but with 1060 3gb.  still have 4 of those and 2 of the 6gb.  1 is limping tho.. lol. limping bad. but. the 6gb are decent enough if you have many.  I have been thinking about doing a shit rig. get like 10 of the 3gb or 20 of the 1050   USED im sure i can find for in the range of 75 -150 a piece. i think 150 is on the high side but people tend to over value things. then focus on the dying coins. mining is a hunt.. its not just set it to the popular coin at the moment and walk away rich. you work.. you research.. you dig.. till the network hash rate and difficulty are low enough that the profit to power consumption  cost is worth turning them on and then you have earned the reward. and yes i had to say all that to let you know that today mining with one evga 1060 mini i earned approx 15000 satoshis  bismuth


and before i take into consideration of power cost. and bismuth is pretty active.. not dying. i want that clear too. i mine it cause i want it.

Did you check the video owner if when he publish his video in youtube?
Before you can make $1.6 usd per gtx 1060 but right now you can't make this daily and it seems that you are paying high electricity rate in eur so for me it is not good to mine with this card with your electricity rate unless if you believe on the coin that the price will be increase more in coming months.

I suggest you to wait more months if the bitcoin value increase around $8k mining altcoin with this card might be profitable depends on the difficulty because I'm sure there many investors are waiting in mining to become profitable again.

There are many promising projects which, if it is good to mine in ten years, will cost a lot. Starting from veil and grin and ending with ravencoin and beam. It's never too late to start.
The main thing is to correctly calculate and understand technology.

nicehash is easy and simple, but we cant trust nicehash again, after hack announcement in last year, he never pay like his promised, im miner too i lost arround 0.0xxxx bitcoin at nicehash during hasking attack. if i check nicehash im still see pending payment

Hello, honestly im a beginner for mining and i hope that i will get respect and knowledge here in this thread because sometime professional was the one who bring down for new comers,by the way your post was totally bring me extra knowledge about mining,hoping to your another post,thanks!

That's the perfect answer! People should come out from thinking that mining is an easy way to earn money! Mining has a lot of things to know! Therefore it is not safe for everyone! Without proper experience and guide, anyone can get harm to the house or people! I will never forget what my fellow friend did! Now, Mining bitcoin is like a nightmare for him! So, I would suggest too that if you don't have mining equipment then don't buy, but if you get from someone then spend 6 months to 1 year to know its proper usage!

do you mining for invest? or mining for learning bitcoin? or maybe you mining just to get profit?
if you mining for invest, then i recomended for it better you buy bitcoin right now and invest it for 5year.
if you want to learning just buy 1 card, try it yourself by diffirent algorithm
and if you want to get profit, is not easy as you think, calculate your electric cost, calculate your maintenance cost and of course you must try diff algorithm to get "perfect profit" like mining when new coin release and hodl it.