Topic: Need your help guys I'm Beginner miner (Read 1004 times)

And sometimes it's good to not listen to this place.
If I had listen to all the fucking idiots who screamed around here that eth is a scam and dead last year, now I would have missed a great opportunity.

sometimes it is better to buy the coin than invest in the hardware. you will 2x-3x your profit instead of worrying about return on investment, or electricity costs, or things failing

Your good at calculating things. well I think you got point I actually spend $3700 in usd lol. I get you point and thanks for the advise. Your actually right planning to build 1 more rig but after reading your advise think yeah its a bit risky, Now i know why many people quit mining instead selling all the cards they have while price still high. (",)

What is HUSH ? What if I mine using GPU ? I heard that GPU mining for ETH still profitable.
Also, as a start.. I want to mine cryptos using USB miner. Is it worth it to buy ?
If I want to build some minimum GPU miner. How much do I need to pay ? Including the computer.
Sorry to ask this questions because I'm a newbie.

Just mine HUSH and you will get the profit.

Yeah....lol.....

It gets worse also.  If Nvidia stays on the usual course, they will be releasing the new series this spring which will cut the value of the new 10 series cards in half.  So, while the resale value of a 1080ti (and 1070s) are high right now, they will be down quite a bit.  When the 10 series came out I bought a brand new 980ti for 300.00 from Microcenter.  If profits keep moving down and the market flood, cards will be down even more.

Some people need to learn the hard way. 

It was a long time ago making that much profits.
Difficulty increased, profitability decreased, even it's going down right now.

I hate to be harsh but why even bother to ask for advice on this forum if you are going to ignore it? Obviously you have it set in your mind what you want to do already, just go for it.

Plenty of posters have already suggested not buying more cards as the $20-$30 per day per rig times are over.  Right now (this moment) with your setup (5x 1070 and 1x 1080ti) and assuming 8 cent kWh power you can earn maybe $10 a day with your entire rig while mining Zcash. A few months ago that was probably $40 a day. A few months from now it will probably be $5 a day, a few months later it might be $2 a day.

I do not know what you paid for your system, but looking online a cheap 1070 is around $400 and a cheap 1080Ti around $700. So just considering the investment in cards alone you have around $2,700 locked up in hardware. It may even be closer to $3,000 if we add in the other components, but since you haven't indicated if you already had the rest of the system I will let it go for sake of argument.

So if everything stays rosy and we do not drop below $10/day in profit you are looking at 270 days to get your money back, or ROI/breakeven. However, if we consider in 3 months time we seen a decline from $40/day to now $10/day in profitability, it is not unreasonable to think that it is possible daily profits could continue to go down even more in the future. So maybe in another 3 months you are looking at $3/day in profits and that 270 days turns into 365+ days. Basically you are forever chasing a ROI that may never happen.

Even if the price of a coin goes up, you may find a temporary relief from the loss of profits, but as profit goes up so does the number of miners who are adding more hash power to capture a little piece of that pie. So over the longer term, even with increasing coin prices, since hash power is also increasing your profit will continue to erode.

However, I don't expect you to read or even consider any of this. I would not be surprised to see in another week you proudly inform us that you now own 2 rigs of such a setup. Well I can only wish you good luck in your endeavors.

just now i upgraded to win10 due i try to mine using win7 and my zpool auto close. anyway do i need to install cuda? i already update my nvidia's card

Sure, win7 is ok for mining rig. There a lot of miners (software) for different coins, you should find info about the best ROI coin for GPU you have and the search for suitable miner for that coin. Just do research, read the forum.

thanks all for the reply guys. really appreciated your advise now i'm using 5x 1070 and 1x 1080ti just basically added 4x 1070 lol. anyway i do have new concerns can mine using window 7? and what best application I can use for these cards?

No one was harsh on him mate, just an innocent joke Yeah mining now isn't as profitable as it was couple of months ago so what, I remember periods (and not short ones) when we wrer merely making enough to cover electricity costs. It all paid for those who liked the idea of HODL Low income on most known coins makes you research more and try new stuff in order to increase profits.

Just like any market, Crypto mining works in cycles. What you described was a peak of one of those cycles and definetly not the norm. What's important to remember is the overall trend is growing and upward. In the video below BBT does a good explanation from the perspective of someone that's been mining for a long time of why you should keep mining, even when it's not the most profitable time to do so.

https://www.youtube.com/watch?v=iCSdLSP1sv0&feature=youtu.be&t=364

lol

Nicehash has its place, that would be okay.  My real concern is when you are new to mining, saying your 1080ti should be making 8-10.00, and you are planning on buying more overpriced cards.  I'd hate to see people tank money like that.  The prices are really inflated and return rates are low.  He would be far better off just buying the coins.  

I don't want to discourage him from mining, just from throwing good money after bad.  When my son started mining there was no way I was going to put out 1-2k with the hope we could figure it out and make our money back.  Instead, we started with what we had (old card and computer laying around) and started reading.  Once we got that running, we went on Craigslist and started picking up cheap used cards and adding them one by one.  Then we went to a mining board, risers, and so on.   He has been really successful because he always got used cards and parts at a steep discount that were easy to see a ROI (ie. gtx 970s for 100.00 that were getting about 1.50 a day, used 750w PSU for 30.00, ect...).  

Put in the work before you open your wallet.  This forum will help a lot.

No need to go harsh on a newbie guy. The videos you saw are not faked or anything. That used to be the actual earnings for these specific GPUs. Unfortunately, that's a thing of the past now, a combination of value and difficulty adjustments have decreased the earnings. Even my mid level GPUs were capable of achieving $2-3 per day back in June.

Right now, with the same hashrate I had back then, I am earning 1/4 or what I used to, my earnings have dropped even more after the latest BTC price dip.

Leave the poor guy alone, he's probably quoting numbers he is seing on Nicehash screen

Instead of saying $4/day let's hear your actual hashrate per card. Profit is relative & changes every day. While we won't get you 2-3x more we might be able to make suggestions to increase your hash rate so you get the most out of it. Windows right? Tried Claymore/Eth?

oh yeah, I must have had a brain fart or quoted the wrong post, sorry

His problem really isn't the software.  He needs to understand that 4.00 a day is most likely about right.  You could bios mod/overclock and that will add a little, but the OP is wondering why he is not making 2x -3x more than he is.  I don't know of any mods, OC, or software that double or triple the hash rate of a 1070 and 1080ti. 

most people use mining software ccminer.  It's webpage is ccminer dot org.  I would paste the link but I am a newbie and cannot post links yet.  LOL.  Hope you succeed with ccminer!