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Topic: How to start mining in 2017 (Read 6364 times)

legendary
Activity: 1498
Merit: 1030
May 18, 2017, 07:26:13 AM
#15


So, I can't mine much with GTX 980 right? :/


 GTX 980 can mine quite a few coins profitably - just that none of them are Bitcoin, and it's old enough it's not going to make a LOT at mining.

 Nicehash is a pretty good option on older cards 'till you can get better informed on what's what and what tools are available for mining altcoins.
hero member
Activity: 658
Merit: 500
Visualize whirledps
May 17, 2017, 09:44:58 PM
#14
The best thing you can do that will cost you absolutely nothing, zero, not a penny, free, is to read all the possible threads on this website that have anything to do with mining BTC (or alt coins), hardware, speculation, mining support, tech support, pools, etc., and READ and understand what is and isn't possible and the best options for someone in your situation. Find a few good mining calculators and see how the costs will add up and what your potential profit will be under different circumstances.

There is no hurry to spend any money. There is only knowledge. That knowledge is priceless. Once you understand EXACTLY what you need to do to start off slowly and cheaply, then and only then should you spend any money and take it slowly. It may seem like you're missing out all the money that can be made but doing it right the first time will be well worth it.

When you can explain BTC mining to a stranger so that they understand how it works and the costs, pro's, con's, etc., of mining, then you are ready.

That may sound extreme or ridiculous, and a waste of time while you aren't making any money, but it is for the best.

$100 +/- is not going to get you to any level where you will make any kind of $. You may very well want to read all about alt coin mining too depending on your total budget. That may well be the best way to start and work your way up.

In reality, unless you have a few thousand dollars to put out, you may spend a whole lot more money than you will ever make.

Start with what you have and see what that will get you as far as possibly mining alt-coins (if necessary) with the hardware you have or by adding fairly inexpensive GPU's. You should know off the top of your head what your power bill will be at certain levels of hash rate. Know about what fluctuations in coin price, difficulty increases, the cooling costs, the outdoor/indoor temperature. All of that BORING stuff. Smiley

You won't regret it in the long run. It may seem like you're wasting time and not making any money. But the knowledge and insight you will gain will be priceless in the end.

Participate in the discussions on this website and read as much as you can stand and ask questiuons. Not just broad, "in general questions" but specific questions that will take you one step farther along the path to being a serious miner with the goal of making money. Because if that is not your goal, then you are just a hobby miner and that will be a hobby that can become expensive.

Best of luck to you and I hope to see you posting on different threads of Bitcointalk answering and asking questions in different threads. At that point you will be glad you took it slowly and you can look at your bank account and smile - because you will be doing something many, many people try to do but fail - make money mining.

GOOD LUCK!!  Cool Cool Cool Cool Cool Cool Cool Cool
newbie
Activity: 4
Merit: 0
May 17, 2017, 11:31:39 AM
#13
What you SHOULD do is build a cheap GPU rig. If your electricity costs are fairly low you can make profit from older cards like radeon 7970/R9 280, 280X or newer cards like RX 470/480.

Point it at nicehashs miner and get paid in BTC. Super simple.

So, I can't mine much with GTX 980 right? :/

Yes, but it might not be guaranteed profitable because litecoin-btc price is fluctuating a lot and isn't really stable. You can try cryptocompare.com/mining/calculator/ to find the most profitable currency to mine

Oki... I will look
member
Activity: 154
Merit: 10
Skype: ™
May 17, 2017, 10:41:28 AM
#12
Try mining XMR  Cool
then convert to BTC  Kiss
member
Activity: 82
Merit: 10
May 17, 2017, 10:24:24 AM
#11
Okay... So, Can I buy somewhere any good mining hardware for +- 100$ to mine bitcoin or litecoin... ( I don't know other currencies. ) to be profitable? Theoretically I can buy litecoins and then transfer it to bitcoins, which could have be more efficient, right?

Yes, but it might not be guaranteed profitable because litecoin-btc price is fluctuating a lot and isn't really stable. You can try cryptocompare.com/mining/calculator/ to find the most profitable currency to mine
sr. member
Activity: 504
Merit: 250
May 17, 2017, 08:02:12 AM
#10
What you SHOULD do is build a cheap GPU rig. If your electricity costs are fairly low you can make profit from older cards like radeon 7970/R9 280, 280X or newer cards like RX 470/480.

Point it at nicehashs miner and get paid in BTC. Super simple.
newbie
Activity: 4
Merit: 0
May 16, 2017, 03:04:43 PM
#9
Okay... So, Can I buy somewhere any good mining hardware for +- 100$ to mine bitcoin or litecoin... ( I don't know other currencies. ) to be profitable? Theoretically I can buy litecoins and then transfer it to bitcoins, which could have be more efficient, right?
legendary
Activity: 3206
Merit: 1069
May 16, 2017, 03:40:09 AM
#8
unfortunately no cheap hardware is so efficient to give you only $1 per day and have you pay almost zero for electricity because of almost no consumption

you need an asic that do 1.5 tera and consume less than 100 watt, there is only the s9 that can give you a decent return with 5 cent electricity
hero member
Activity: 910
Merit: 511
May 16, 2017, 03:13:06 AM
#7
I found some videos, where people said, that they can mine 1$ per a day

i think this is really impossible...
did you compute electricity and pool fee costs???
Maybe you can do 1$ mining alt coins...
but no BTC.
newbie
Activity: 4
Merit: 0
May 15, 2017, 07:10:56 PM
#6
An Antminer S5 would cost you about $140 (more or less), and if your power cost is less than 5cents per Kwh, you would be profiting $2 at the current price (that of course, if the pool is for free).

Well, I calculated that I can't really mine something with my solo PC, so that was disappointing. Which mining hardware should I buy? I was thinking about AntMiner U3 or ROCKMINER R-BOX 110G since is cheap and looks cool by https://en.bitcoin.it/wiki/Mining_hardware_comparison. I have Raspberry 2 B too, so It's good idea to make flash disk RIG from it?
hero member
Activity: 2912
Merit: 556
Enterapp Pre-Sale Live - bit.ly/3UrMCWI
May 15, 2017, 07:01:10 PM
#5
You haven't found answers for your questions on the mining board? Weird. OK, let's see.

Is mining profitable in 2017?
Depends. If you can pull it off, it can be profitable, especially when bitcoin price pumps. But it's not a walk in the park, you should know that.

Quote
that they can mine 1$ per a day on their own PC (without ASCI)
$1 isn't much – your electricity bill could cost you more than that, and the expenses of your PC, hardware, and cooling.

Quote
(i7 4790K, GTX 980).
Don't get your hopes up. Mining with a single GPU is not going to make you any real profit. On the contrary, you might be losing money. Even if your PC is all too powerful, the mining will wear it off, and you will have to spend money to continue mining.

Quote
I'm still looking for a good software for GPU/CPU mining.
I know of two CGMiner and BitMinter.

Quote
is there any other option to buy "inexpesive" mining hardware to have at least 1$/day mining speed?
To be honest, what I have seen so far, There is nothing called 'inexpensive' in mining. It's like a long term investment, if you want money, you have to pay. Plus, I don't know what 'inexpensive' means to you (some people find $500 hardware inexpensive, others find it too expensive). An Antminer S5 would cost you about $140 (more or less), and if your power cost is less than 5cents per Kwh, you would be profiting $2 at the current price (that of course, if the pool is for free).


this is completed answer that you can get. its all depend on what hardware you want to use, beside that if you only use 1 vga card, then i think its not possible to make $1/day at least you should have 3-4 vga cards then i think you can be able to make $1/day. but the other things that you should know is what type of coins you want to mining because once you the best coins that can help you to make $1/day, then you are in the right way and you can continue but if not, then you should find the other coins and tested it.

the other thing that you should know is about the cost of electricity. can you cover the fee from the mining? if not, then you are not ready to start mining.
sr. member
Activity: 1344
Merit: 288
May 15, 2017, 05:46:49 PM
#4
You haven't found answers for your questions on the mining board? Weird. OK, let's see.

Is mining profitable in 2017?
Depends. If you can pull it off, it can be profitable, especially when bitcoin price pumps. But it's not a walk in the park, you should know that.

Quote
that they can mine 1$ per a day on their own PC (without ASCI)
$1 isn't much – your electricity bill could cost you more than that, and the expenses of your PC, hardware, and cooling.

Quote
(i7 4790K, GTX 980).
Don't get your hopes up. Mining with a single GPU is not going to make you any real profit. On the contrary, you might be losing money. Even if your PC is all too powerful, the mining will wear it off, and you will have to spend money to continue mining.

Quote
I'm still looking for a good software for GPU/CPU mining.
I know of two CGMiner and BitMinter.

Quote
is there any other option to buy "inexpesive" mining hardware to have at least 1$/day mining speed?
To be honest, what I have seen so far, There is nothing called 'inexpensive' in mining. It's like a long term investment, if you want money, you have to pay. Plus, I don't know what 'inexpensive' means to you (some people find $500 hardware inexpensive, others find it too expensive). An Antminer S5 would cost you about $140 (more or less), and if your power cost is less than 5cents per Kwh, you would be profiting $2 at the current price (that of course, if the pool is for free).
sr. member
Activity: 546
Merit: 250
kittiefight.io Combat MMO Lending Jackpots
May 15, 2017, 05:31:15 PM
#3
Bitcoin mining is not possible without any major investment but you can still try out mining alt coins mainly Ethereum,Monero and Zcash and just see how much hash rate you can get with the current system and calculate whether it is profitable to mine with the hardware you have. You can go to this site to know more about mining.
hero member
Activity: 1610
Merit: 538
I'm in BTC XTC
May 15, 2017, 05:19:29 PM
#2
... If the mining speed in 2017 is not possible on solo PC, is there any other option to buy "inexpesive" mining hardware to have at least 1$/day mining speed?
Nope
newbie
Activity: 4
Merit: 0
May 15, 2017, 05:16:50 PM
#1
Heya!
I wanted to start mining bitcoins, but I encountered some problems and I have questions on which I can't find answers. First of all. Is mining profitable in 2017? I found some videos, where people said, that they can mine 1$ per a day on their own PC (without ASCI), which is awesome, I guess and I would like to have same or better mining speed. So I google some wallets and pools and I wanted to join to Slashpool and mainly to Antpool with my own computer (i7 4790K, GTX 980). I'm still looking for a good software for GPU/CPU mining. I would be thankful, If someone would recommended me a good software. If the mining speed in 2017 is not possible on solo PC, is there any other option to buy "inexpesive" mining hardware to have at least 1$/day mining speed?

Thank you for responds!
Tongue
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