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Title: Noob with a question Post by: bitcointroy on November 21, 2017, 06:04:24 AM ;D
Ok i have spent the day learning mining via youtube videos and dinking around. I have set up a wallet and NiceHash 2.0.1.4. my video card is a gtx 1060 and I am currently mining equihash at 300 /HS. So thats about 1.45 bucks per day. What would you recommend I do to make this profitable? add more video cards? 2nd question. How exactly do block rewards work. does your mining pc just add it automatically if you solve a problem? :-\ thanks Title: Re: Noob with a question Post by: davis196 on November 21, 2017, 07:16:02 AM ;D Ok i have spent the day learning mining via youtube videos and dinking around. I have set up a wallet and NiceHash 2.0.1.4. my video card is a gtx 1060 and I am currently mining equihash at 300 /HS. So thats about 1.45 bucks per day. What would you recommend I do to make this profitable? add more video cards? 2nd question. How exactly do block rewards work. does your mining pc just add it automatically if you solve a problem? :-\ thanks Have you included electricity costs in your "proft from mining" calculation?If no,1.45 USD per day is a waste of time.I think that the block rewards depend of the mining pool that you joined.I don`t have experience mining altcoins and i don`t wanna waste my time and money investing in mining hardware. Good luck with mining,OP. Title: Re: Noob with a question Post by: byvalyi on November 21, 2017, 09:42:47 AM So thats about 1.45 bucks per day. What would you recommend I do to make this profitable? Read FAQs and manuals. I recommend you to create a model in Excel file. You have to include all costs there. Also you can add some new video cards in the model and you will see the profit. But i think with current perfomance you have 0$ of profit. Title: Re: Noob with a question Post by: bizalaz on November 21, 2017, 09:50:33 AM It's good. Of course, it's better to add video cards, and the more video cards the better, the higher the profit.
Title: Re: Noob with a question Post by: bitcointroy on November 21, 2017, 01:17:07 PM Thank you all for your info.
Now what about the Block reward. How does that affect your USD? Does it change or is the ammount so small that you never know if you were the one that solved the puzzle? Title: Re: Noob with a question Post by: parkers on November 21, 2017, 01:19:40 PM Yes, you could add more cards.
I suggest strongly to look youtube more because there are many videos with calculations already made. And the make your decision. Add the cards or not. If it's profitable or not. Title: Re: Noob with a question Post by: PotatoM12 on November 21, 2017, 01:49:37 PM Block rewards are issued when you solve a block - the more hashrate you have the more shares from the block reward you get.
If you mine for example bitcore at altminer.net. It is 3.126 BTX per block. So if you were the only person mining bitcore you would get 3.126 bitcore when you solve a block. Nicehash does all this underwater and pays directly in BTC I believe. Block rewards and the time inbetween blocks differ per coin. Title: Re: Noob with a question Post by: evoqon on November 21, 2017, 02:06:21 PM Of course increasing graphics card will increase your income, but you have to calculate the ROI of your graphics card investment.
Title: Re: Noob with a question Post by: botmanside on November 21, 2017, 02:08:27 PM omg you spend a one fucking whole day with reading????
hope your head is not aching... Title: Re: Noob with a question Post by: bitcointroy on November 21, 2017, 02:44:01 PM I enjoy it. I will be doing this as a hobby ;)
Title: Re: Noob with a question Post by: baga105 on November 21, 2017, 02:48:57 PM I enjoy it. I will be doing this as a hobby ;) Well.. you have to start somehow :) If you are planning to stay with 1 GPU, it will be a waste of time in my opinion.. There were a lot of 1GPU miners in the end of May, and they are now slowly realizing that there is no profit in mining with only 1 GPU ( only if you have free electricity) :) Title: Re: Noob with a question Post by: shibob on November 21, 2017, 03:23:50 PM I enjoy it. I will be doing this as a hobby ;) Well.. you have to start somehow :) If you are planning to stay with 1 GPU, it will be a waste of time in my opinion.. There were a lot of 1GPU miners in the end of May, and they are now slowly realizing that there is no profit in mining with only 1 GPU ( only if you have free electricity) :) Totally agree with you. And I'm curious that how do you know about "lot of 1GPU miners in the end of May", it's quite interesting for me :D |