Bitcoin Forum

I recently got a new computer with GTX 1070. I have been tinkering with mining, but have been checking WhatToMine fairly frequently. This is starting to hurt my home life for only about 1.50 USD per day, profit. getting up at 5:30 am to check what I should be mining isn't helping either.  :D Any suggestions on what a more balanced strategy would be? The nagging from my partner is starting to increase...
PS: I've already limited my choices between Nicehash, ZCash, Zencash, Hush, and Bitcoinz. But even toggling between these 4 options is taking an inordinate amount of my time.

I'm not an expert on mining, but for individual mining with small rig, newer and relatively unknown coins are the only option for profit.
Whatever it may be, ethhash equihash, cryptonote or scrypt, just jump in on low difficulty and hold the coins until they reach to exchange.

It's been slim pickings though. All I see are airdrops and ICO. Or they are POW/POs with Scrypt/SHA256 and/or WalletBuilder coins.  :-\
I know BTG is coming soon, but I think everyone and their Mom is going to mine that and is likely not to be a cash cow.

Electroneum, metaverse ETP, minexcoin, bitcoinZ, bitcoin gold...

No shortage of new coins to mine. Just need to look at pools(altcoin) and announcement threads.

If you don't want to constantly check which currencies are the most profitable, just use nicehash. Their client will automatically switch to the most profitable algorithm as it changes. I have my desktop with a GTX 1080 and an i7-6850k  mining with their client and I'm getting about $70-$90 just off of that rig. Not that huge of a profit, but it's winter hear so I'm generating money while heating my apartment, instead of losing money heating it. :P

Coin switching from daily profitability calculators is pointless with a single rig. WhatToMine only shows you what is currently the most profitable IF you were to sell the coins you already mined at that moment. The problem is by the time you are able to mine enough coins to cash out to an exchange, the profitability WILL have changed. If you just care about maximum current profitability, NiceHash is an easy and good option since they automatically do that calculation and switching for you. Another strategy is to accumulate coins and hold for the long term.

The only problem with Nicehash is that it is going to take quite a while to mine .01BTC worth to get a payout. I could go with the .001 payout by switching to Nicehash address; but with the BTC fee my funds will be trapped there, anyway. The benefit of mining other coins is that I can transfer them to an exchange, and use those to trade for other coins if I wish. I suppose that I could use the Nicehash funds to rent hash, but not all coins that I may be interested on speculating on are POW and use an algo Nicehash is compatible with.

Then just stick to a coin that has good, stable profitability for Nvidia, like ZEC. The difference between mining that and another coin that 'may' be more profitable that day is very likely to be pennies with a single 1070.

I think that is a plan that I can stick with. Especially since ZEC trading is available on a wide range of exchanges, so I don't have to settle for only C-CEX or yobit or some other two-bit exchange. Thanks.

I would also suggest to go for a Equihash coin that is relatively new (ZCL, ZEN, Hush). Also check out BTCZ - you could at least farm some coins instead of only fractions of it.

I wouldn't suggest you to try too many different algos as it always takes times to set them up and tinker around. Finding the optimal settings for Equihash will allow you to mine a wide range of coins.

That's basically what I have been doing. However, it's still taking too much of my time when we are talking pennies here. I haven't strayed far from the Equihash algo because that would take even more time.  :D

You can try NiceHash or Winminer
https://bitcointalk.org/index.php?topic=2004875 (https://bitcointalk.org/index.php?topic=2004875).0

You can set yourself some goals (that's what i did to keep myself from jumping algos and checking coins all the time). For example:
10 HUSH
10 ZCash
1 ZEN
1000 BTCZ

After cumulating some coins you can maybe focus on one or repeat the cycle.

All of these are really good suggestions. Thanks very much for some insight.  8)

I just started mining fairly recently myself and was like you early on, always checking what to mine. I eventually got sick of that and just picked a coin I could mine a lot of since I only had 4 GPUs. I got lucky and picked ZEN when it was not being mined as heavily as it is now and was able to mine a nice handful before the price shot up. Mine and hold for a good price seems to be the best strategy right now for those of us with low hash rates.

I also liked your idea to make sure it is a coin that is traded on more than one or two exchanges though, as you don't want to pick too exotic of a coin that disappears in a month.

You remind me of myself when I just started :) First was Nicehash, then constant WTM checking and jumping between various coins, until I realized how profitability calculators really work. Then I started to pay lots of attention to new alts, mined and stored them combining with their bounties and airdrops. Some of them turned out to me really good, others were shit. But overall I doubt there's any other way to make any solid cash with a single small rig.

I have tried whattomine and similar, but they dont do it for me, they are not accurate.
I dont know, i tried *sigh*
like the one it says Xevan is 24 MH/s   but i only get 1 MH/s so it makes no sense for that example

Oh well, in the end, I'm just playing around anyway. 1 GTX 1070 isn't going to make me rich unless I manage to get in the 1st few minutes of the next altcoin that ends up being hyped to the hilt. After all, I am not a gamer. So I really don't need a GTX 1070 except to play around with mining. I felt like I was missing out on the mining game. I want to have the full crypto experience.

My 1080 and 1080 ti get 10+ MH/s mining xevan. Seems like 1 MH/s is really low for a 1070. Try another pool?

try some autoswitching miner like Megaminer (https://bitcointalk.org/index.php?topic=2059039) or Nemosminer (https://bitcointalk.org/index.php?topic=1777336.0)

There's two main strategies really, the first is going by whattomine and just mining whats most profitable, the second is researching different coins and mining one that you believe has a good future especially if its early on when you can get a lot of coins while the difficulty is low.

I've had my stints with mining Eth and currently using NiceHash because of the recent rise in CryptoNight profit but i'm thinking of switching to a strategy of mining a coin that might not be the most profitable today but could rise multiple times in the future, some examples of this could be ETP and Ubiq.

My rig is AMD though, for Nvidia you could check out a newer coin like Trezarcoin as you'll be able to accumulate a lot each day due to it only being worth around the 1 cent mark and difficulty is still relatively low.

nicehash ---- zcash---convert to btc --- use and exchange like bittrex


only look 1 time  a week


If you can not do this  don't mine  as you could become a compulsive gambler at this very easily

That's pretty straight forward. I'll mine the other coins until I have more than dust, then revert to the sensible strategy.
BTW: I noticed that no one has mentioned MRR at all. Back in 2015, when my Rockminer was basically obsolete, I used MRR to rent out at a premium with Nicehash as the failover. I guess that doesn't work in the GPU game. Or has MRR gone downhill?

Don't bounce around,

Equihash is best, and zencash has been the best for weeks and zen.suprnova.cc is the best pool,

Yep, the 1070 will net about 480 sols/sec if u optimize, that be $2 / day, so you probably not pay for electricity

This is a hobby dude, did U think ppl actually make money??

The money is in pull shit-coins out of your ass pre-mining, and pump&dump, miners don't make money, they just throw cash into the toilet on electricity bills

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U don't bounce around as good pools like suprnova.cc want u to stick around at least 24 hours, if you bounce  then you'll always get NO where, zen-cash has been best for past month, 2-3 months ago ethereum was best, now its shit, I think that equihash will be best for GPU ppl for a long time,


At one card U don't have enough power to accumulate coin,

I thinks its good to say accumulate zen-cash, say each mining rig six 1060-3 @ 1800 sols/sec, $10/day, that be 0.5 Zencash a day, one every two days, 45 per month, then u can setup secure-nodes and make a stedy income of free coins.

WIth one card  your only getting 0.05, which means about 1 zen a month, it will take years

So now U have a hobby, U must decide if your going to go to the next level, or sell your gpu card and get your money back??

Good  news is u can get yoru money back, ppl who buy BITMAIN D3's don't even get their money back, they just keep bat anchors that gen no profit

nicehash is a scam, never use nicehash,

say u do with your one card, they require a 0.001 payout, that means u mine a month, then u still don't get paid cuz they tell u that you need 0.0015 to get paid, so you mine two more months, then they tell u the only egress is paypal ( for 50% fee ), or u buy hw from their store

nicehash doesn't pay in BTC, they just do BTC addrresses as an accounting number, but U never get a private-key when u use nicehash, NEVER

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Just mine the good z coin, trouble with zcash, is it will take you 3 months to get one coin, that's why in your class u should stay with zencash and get a coin every 20 days, rather than 200 days (zcash)

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Suprnova.cc pays out at 0.001 with 0.001 fee, so u want to set payout to be 0.1, rig people set it at '1'

suprnova.cc pay's out all the other POOLS do NOT

Don't bother with SOLO MINING, if your not running a farm with 1,000 GPU cards, u will see nothing.