Topic: I Start Mining This Week, Any Advice Is Appreciated (Read 376 times)
do a deep research on what altcoin you're going to mine, keep on tracking your miner as frequent as possible and observe the current price so that you'll know when's the best time to sell or buy back
My advice is dont bother. You will never achieve return on investment, even the electricity you will use. The markets are building up for a huge crash (sub $3000 bitcoin) its formed a right triangle, thats a very bad sign.
Ive been mining with my old gaming hardware since December 2017, and since the markets have crashed lately I now have spent more on electricity than I have in crypto. I have $160 CAD in crypto mining on 3 cards (HD 6950, R9 270X, and RX 580) 9 months mining and only $0.06/kWhr electricity and I still didnt manage to pay for it. The only way I can see making any kind of profit in this enviroment is with ASICS. GPU Mining is dead.
Ive been mining with my old gaming hardware since December 2017, and since the markets have crashed lately I now have spent more on electricity than I have in crypto. I have $160 CAD in crypto mining on 3 cards (HD 6950, R9 270X, and RX 580) 9 months mining and only $0.06/kWhr electricity and I still didnt manage to pay for it. The only way I can see making any kind of profit in this enviroment is with ASICS. GPU Mining is dead.
What's this right triangle you talk about? Can you elaborate a bit more? Sounds scary.
https://www.investopedia.com/terms/d/descendingtriangle.asp
We are in Crypto world Bud, a simple news would flip events, seen different TA's
A descending triangle might already at the Tip and will form an Ascending triangle
Seen also a Head and Shoulder on a 1d tf
A much concern on mining should be difficulty, prices will probably rise on due time
ASICS,FPGA and new hardware releases would make present GPU to be extinct
If you decide to use your gaming rig to mine coins, and its not an open air case, I suggest you get a good fan controller, and add some high flow fans. Get some good Hydro bearing fans 120mm or 140mm that can move 100+ CFM.
Stay away from the ball bearing fans as they get loud once the RPMS get about 2000 RPM.
Also get a vertical support for your GPUs, so the extreme heat and gravity won't cause them to sag and slowly deform.
I suggest you start by learning how to write your own batch files that can run common mining programs like CCminer.
Learn the command strings, and master those.
If you start off like most Noobs and just install nicehash, you will never learn, and lose lots of money to nicehash who will rob you blind with fees.
If you want to still be profitable while everyone else is loosing money, you have to learn all the mining programs, keep tabs on new releases that improve performance, and manually benchmark and OC your cards to maximize your profits, while keeping everything stable.
Stay away from the ball bearing fans as they get loud once the RPMS get about 2000 RPM.
Also get a vertical support for your GPUs, so the extreme heat and gravity won't cause them to sag and slowly deform.
I suggest you start by learning how to write your own batch files that can run common mining programs like CCminer.
Learn the command strings, and master those.
If you start off like most Noobs and just install nicehash, you will never learn, and lose lots of money to nicehash who will rob you blind with fees.
If you want to still be profitable while everyone else is loosing money, you have to learn all the mining programs, keep tabs on new releases that improve performance, and manually benchmark and OC your cards to maximize your profits, while keeping everything stable.
My advice is dont bother. You will never achieve return on investment, even the electricity you will use. The markets are building up for a huge crash (sub $3000 bitcoin) its formed a right triangle, thats a very bad sign.
Ive been mining with my old gaming hardware since December 2017, and since the markets have crashed lately I now have spent more on electricity than I have in crypto. I have $160 CAD in crypto mining on 3 cards (HD 6950, R9 270X, and RX 580) 9 months mining and only $0.06/kWhr electricity and I still didnt manage to pay for it. The only way I can see making any kind of profit in this enviroment is with ASICS. GPU Mining is dead.
Ive been mining with my old gaming hardware since December 2017, and since the markets have crashed lately I now have spent more on electricity than I have in crypto. I have $160 CAD in crypto mining on 3 cards (HD 6950, R9 270X, and RX 580) 9 months mining and only $0.06/kWhr electricity and I still didnt manage to pay for it. The only way I can see making any kind of profit in this enviroment is with ASICS. GPU Mining is dead.
What's this right triangle you talk about? Can you elaborate a bit more? Sounds scary.
https://www.investopedia.com/terms/d/descendingtriangle.asp
I say go for it but do not use your gaming rig. Build a budget mining rig you can leave running 24/7. And right now mining stuff is cheap. I picked up an almost new MSI 1070ti for $295 the other day off ebay. If you are in it for the fast easy money forget about it. Otherwise scrap together a little rig and start learning how to mine coins.
My advice is dont bother. You will never achieve return on investment, even the electricity you will use. The markets are building up for a huge crash (sub $3000 bitcoin) its formed a right triangle, thats a very bad sign.
Ive been mining with my old gaming hardware since December 2017, and since the markets have crashed lately I now have spent more on electricity than I have in crypto. I have $160 CAD in crypto mining on 3 cards (HD 6950, R9 270X, and RX 580) 9 months mining and only $0.06/kWhr electricity and I still didnt manage to pay for it. The only way I can see making any kind of profit in this enviroment is with ASICS. GPU Mining is dead.
Ive been mining with my old gaming hardware since December 2017, and since the markets have crashed lately I now have spent more on electricity than I have in crypto. I have $160 CAD in crypto mining on 3 cards (HD 6950, R9 270X, and RX 580) 9 months mining and only $0.06/kWhr electricity and I still didnt manage to pay for it. The only way I can see making any kind of profit in this enviroment is with ASICS. GPU Mining is dead.
"only way to make money is with ASIC"
"gpu mining is dead"
you obviously dont know what youre talking about
most miners who started summer 2017 or earlier would have made ROI by now or very close, unless they overpaid for their gear
mining profitability is shit compared to when i started last year, but considering i already made roi, i am still profitable.
ASICs are a great way to destroy mining. ask the antminer D3 and equihash crowd
My advice is dont bother. You will never achieve return on investment, even the electricity you will use. The markets are building up for a huge crash (sub $3000 bitcoin) its formed a right triangle, thats a very bad sign.
Ive been mining with my old gaming hardware since December 2017, and since the markets have crashed lately I now have spent more on electricity than I have in crypto. I have $160 CAD in crypto mining on 3 cards (HD 6950, R9 270X, and RX 580) 9 months mining and only $0.06/kWhr electricity and I still didnt manage to pay for it. The only way I can see making any kind of profit in this enviroment is with ASICS. GPU Mining is dead.
Ive been mining with my old gaming hardware since December 2017, and since the markets have crashed lately I now have spent more on electricity than I have in crypto. I have $160 CAD in crypto mining on 3 cards (HD 6950, R9 270X, and RX 580) 9 months mining and only $0.06/kWhr electricity and I still didnt manage to pay for it. The only way I can see making any kind of profit in this enviroment is with ASICS. GPU Mining is dead.
What's this right triangle you talk about? Can you elaborate a bit more? Sounds scary.
My advice is dont bother. You will never achieve return on investment, even the electricity you will use. The markets are building up for a huge crash (sub $3000 bitcoin) its formed a right triangle, thats a very bad sign.
Ive been mining with my old gaming hardware since December 2017, and since the markets have crashed lately I now have spent more on electricity than I have in crypto. I have $160 CAD in crypto mining on 3 cards (HD 6950, R9 270X, and RX 580) 9 months mining and only $0.06/kWhr electricity and I still didnt manage to pay for it. The only way I can see making any kind of profit in this enviroment is with ASICS. GPU Mining is dead.
Ive been mining with my old gaming hardware since December 2017, and since the markets have crashed lately I now have spent more on electricity than I have in crypto. I have $160 CAD in crypto mining on 3 cards (HD 6950, R9 270X, and RX 580) 9 months mining and only $0.06/kWhr electricity and I still didnt manage to pay for it. The only way I can see making any kind of profit in this enviroment is with ASICS. GPU Mining is dead.
I start mining this week for my first time. Not a big glamorous setup or anything. I have a gaming PC arriving this Tuesday that will have. GTX 1050 pre installed. I know it's not the best but it's a start.
TBH It's not even a start! You wouldn't even make 5 cents after mining for 24 hours straight.
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My question is can I buy an additional GPU and run both in the PC? I was thinking of buying a 1060 or 1070.
Depends on the number of PCIe/PCI Express slots your mobo has.
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1080 would be great but I just don't have the cash yet.
If you are planning to save up for that through mining. It will never happen.
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This is my first real attempt at mining so I'm willing to learn.
Yeah, the setup is only good enough for trying out different software and getting the feel of what's its like to mine.
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Any and all advice and constructive criticism is welcome.
Here is my "honest advice". Don't bother with mining unless you can buy up at least 8 or 6 high-end GPUs and have a electricity cost less than 0.10 KW/h as it will be hard for you to break even in the coming months if this downtrend continues. Also, there is no guarantee that you will break even with those high-end GPUs. So do your research and see if mining is actually for you or not.
Hi everyone. This is my very first post here, and I'm glad to have found Bitcointalk.
I start mining this week for my first time. Not a big glamorous setup or anything. I have a gaming PC arriving this Tuesday that will have. GTX 1050 pre installed. I know it's not the best but it's a start. My question is can I buy an additional GPU and run both in the PC? I was thinking of buying a 1060 or 1070. 1080 would be great but I just don't have the cash yet. Any and all advice and constructive criticism is welcome. This is my first real attempt at mining so I'm willing to learn.
Thanks.
I start mining this week for my first time. Not a big glamorous setup or anything. I have a gaming PC arriving this Tuesday that will have. GTX 1050 pre installed. I know it's not the best but it's a start. My question is can I buy an additional GPU and run both in the PC? I was thinking of buying a 1060 or 1070. 1080 would be great but I just don't have the cash yet. Any and all advice and constructive criticism is welcome. This is my first real attempt at mining so I'm willing to learn.
Thanks.
you should reconsider buying a GPU card for mining purposes only
if you plan to play games and mine occasionally-then it is one thing, but you want to profit on a ,say 1060 -reconsider it
I will link you this website : https://whattomine.com/ you can see that average ROI time on GPU's are around 18 months now at best
so if you mine 24/7 and have a very cheap electricity, you will be able to get your money back only after a year and a half!
in most cases-on a new GPU it will be two years and more
Thanks for the tips. Sorry I posted in the wrong section.
Hi everyone. This is my very first post here, and I'm glad to have found Bitcointalk.
I start mining this week for my first time. Not a big glamorous setup or anything. I have a gaming PC arriving this Tuesday that will have. GTX 1050 pre installed. I know it's not the best but it's a start. My question is can I buy an additional GPU and run both in the PC? I was thinking of buying a 1060 or 1070. 1080 would be great but I just don't have the cash yet. Any and all advice and constructive criticism is welcome. This is my first real attempt at mining so I'm willing to learn.
Thanks.
I start mining this week for my first time. Not a big glamorous setup or anything. I have a gaming PC arriving this Tuesday that will have. GTX 1050 pre installed. I know it's not the best but it's a start. My question is can I buy an additional GPU and run both in the PC? I was thinking of buying a 1060 or 1070. 1080 would be great but I just don't have the cash yet. Any and all advice and constructive criticism is welcome. This is my first real attempt at mining so I'm willing to learn.
Thanks.
There is the altcoin section for this question as this section is for mining Bitcoin only with ASICS. Anyway since you are a newbie mods will fix this for you. You should check the motherboard how many PCIE slots has and you can open the case and install any GPU you like with risers as long as your PSU has enough cables to power them.
Hi everyone. This is my very first post here, and I'm glad to have found Bitcointalk.
I start mining this week for my first time. Not a big glamorous setup or anything. I have a gaming PC arriving this Tuesday that will have. GTX 1050 pre installed. I know it's not the best but it's a start. My question is can I buy an additional GPU and run both in the PC? I was thinking of buying a 1060 or 1070. 1080 would be great but I just don't have the cash yet. Any and all advice and constructive criticism is welcome. This is my first real attempt at mining so I'm willing to learn.
Thanks.
I start mining this week for my first time. Not a big glamorous setup or anything. I have a gaming PC arriving this Tuesday that will have. GTX 1050 pre installed. I know it's not the best but it's a start. My question is can I buy an additional GPU and run both in the PC? I was thinking of buying a 1060 or 1070. 1080 would be great but I just don't have the cash yet. Any and all advice and constructive criticism is welcome. This is my first real attempt at mining so I'm willing to learn.
Thanks.
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