|
Title: Mining with GTX 1070 + nicehash Post by: miguelllanosi on June 16, 2017, 11:47:36 PM Hi everyone, I'm new to mining and I have a couple of questions I hope you guys can answer for me.
I downloaded nicehash miner which is extremely easy to set up, I basically just pressed a button and started mining. It's been up and running for a couple of days and I'm making about 5-6 USD a day (or around 0.0024 BTC). I've read in many places that mining with GPU is not worth it anymore, I don't understand how that can be true, I'm making that amount of money a day and electricity costs won't be more than $0.50-0.70 per day, the 1070 is 150W so that would be about 3.6 kw/h, which I pay for 1 kh/h in $0.11. So basically i'll be making around $150 a month and paying $20-$30 for electricity, which doesn't sound bad at all. My questions are: 1. Who do people say GPU and/or Bitcoin mining are not profitable anymore? I was thinking of buying an Antminer S9 but if I'm getting things right, GPU mining can basically make around the same amount of money. (If there's something I'm missing please tell me) 2. Can my 1070 get damaged if I leave it on 24/7? It's been active since 4 days ago and I've had no issues whatsoever. 3. If I'm making that amount a day and I'm getting things right, is it convenient to keep mining BTC or should I go for an altcoin? 4. I'm familiar with Gh/s and such, but nice hash says my 1070 is hashing at 400 Sol/s when using Equihash, which I'm not sure how it translates to MH/s, also, when it mines in another algorithm, its about 28 MH/s but I don't understand how that can be possible because if I input the into to a bitcoin calculator, it says I'm basically loosing money, which I am not.Link below. https://www.cryptocompare.com/mining/calculator/btc?HashingPower=28&HashingUnit=MH%2Fs&PowerConsumption=150&CostPerkWh=0.11 5. Does nicehash use or automatically select a mining pool? Thank you guys, and sorry for the long post. Title: Re: Mining with GTX 1070 + nicehash Post by: iamnewhere on June 17, 2017, 12:09:03 AM @miguelllanosi - with nicehash you mine in different altcoins and they automatically exchange your mined coins into BTC - so actually you do not mine BTC but get directly payed out in BTC ;)
Title: Re: Mining with GTX 1070 + nicehash Post by: jpoker272727 on July 03, 2017, 09:33:52 PM Aren't you seeing that you are trying to mine bitcoin with a GPU? From the link you have provided it seems that you are not getting any profit but -11 USD??
1. Antminer S9 and GPU are two different things and Antminer s9 is designed to mine bitcoin while the GPUs are not. 2. You have to take care about the heat and time by time check the temperature of the GPUs 3. Since you can't mine bitcoin then you should move to altcoins and when you mine I would suggest to not sold the mined coins, consider than as an investment. Thank you... |