As if its not said enough, don't calculate worth by looking at today's stats. The big profit from mining comes from holding and cashing out years later when the your mined coin's value rises.
Sadly this is not said/explained nearly enough. People keep chasing what is most profitable for the day or week but if you dont immediately turn your coin into fiat there is literally zero reason to chase daily profits. As the quoted post says, the profit comes from hodling your coins. Mining is a long game, despite what the majority of people seem to think. Yep, I learned that first hand after the Scrypt/X11 crash in 2014. The only reason I was able to make a profit after the collapse was I kept most of the coins I mined back then and was able to use them to start mining again this year. Had I just sold back when I mined them, I would have lost on a 10000% gain on some of them. LOL |
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I got the opensshd server/client setup last night and woke up this morning reading my event viewer and it was being blown up by a Chinese IP address for exceeding unauthorized attempts lol
Im headed to Best Buy now to purchase a wifi outlet, they are expensive there but I guess it's the same as if I did next day air
If you want to open the ssh port on your router, for security you should change the default port, disable password authentication in the sshd_config file and create an AllowUsers with only public key authentication. https://wiki.centos.org/HowTos/Network/SecuringSSH |
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I DONT UNDERSTAND WHY NEWBIES KEEP ASKING THE SAME QUESTION " ITS TO LATE TO START MINING ?"No one can tell you ! Always going to be a 2 group of ppl who telling you it's ok go for it , or dont bc you just wasting ur money ! You have to make a decision for yourself ! Do your own research ! No one can tell you for sure what's going to happen with cryptocurrency ! No one can tell you it's going to be profitable for you or not ! No one can tell you the ROI ( return of investment) time ! None of those calculators you are seeing on the web can tell you what's coming tomorrow , months later or 6 months later ! Those calculators telling you about today , at that moment when you typing in your information ! It's little bit of gambling , you must to decide you want to play on the lottery or not  YES some of us got lucky , made some money with mining YES some of us got unlucky , lost some money , bc when price started to fall , sold the coins , miners Well said. If there is ANYTHING sure in Crypto, it's that NOTHING is sure in Crypto! There are only costs and benefits to any decision you make. However, the bottom line is GPU mining IS currently profitable and the Crypto market is growing. IMO, if you approach it it as a long term investment rather than a cash cow, you will do OK and that is what history has shown. In the video below BBT gives the persepective of someone thats been mining for a long time and built hundreds of rigs, 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 |
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They are both the same. The values are different because by default they use different inputs for hash rate and power. You have to put in your own inputs to get your current profitability.
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ASIC's are a one trick pony. They are easy to setup and GREAT for mining a lot of coins quickly for the algorithm they were designed for, but otherwise are useless for anything else and the resale value is terrible. Since they have a high upfront cost, you may want to sell the coins you mine so you can make back your initial investment before the difficulty skyrockets and they become obsolete by a newer, better model. If you get in early enough, you should be OK.
GPU rigs on the other hand are much more versatile by being able to mine many coins but also require more work and maintenance. The smaller up front cost, versatility and great resale value also lowers the amount of risk you are taking and the pressure to sell your earnings to make ROI.
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It will make it worse for miners, your electricity bill is high, really high. Mine is 0.07-0.08$ and its also getting really expensive to mine, try to find cheaper electricity it you can, also if you are on nvidia try mining other coins, those who can have a better future and can double/triple in value
The reward reduction is only one aspect of the next fork. The Byzantium hard fork scheduled for the second week of October will reduce the block times from where they are now in half, back to 15 seconds as well as remove the difficulty bomb and return the network back to where the difficulty is predicated on the total hash rate instead, so the difficulty will go down. The block reward will also be reduced to 3 ETH to keep inflation about the same as it was at the beginning of September. Overall those changes are expected to make it ~20% more profitable than it is now, depending on the price. Also if past coin halvings are a guide, the price typically goes up. https://www.reddit.com/r/EtherMining/comments/71xfvi/byzantium_update_from_dev_call_and_3gb_miningI also dual mine with DCR and the coins generated from that pay for about 2/3 of the ETH power used after calculating the increased power usage from dual mining. Though i'm HODLing. |
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Try setting the PCI-E slot for the X16 slot to GEN 3 in the Bios and connect the 1070 riser to that slot.
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I had both on, I'll try with just the GPU. Do I leave the "all coins" option on ?
Edit: 6.29 Mh/s: only 0.24$/day with my GPU
Yes, you want it to benchmark all coins so it can pick the most profitable option for your card. |
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What would be your recommendations for which currency to GPU mine and then trade for LTC ?  I don't have a GTX 970, but my guess would be an Equihash coin like ZEC would be a good choice. You can also download the NiceHash miner and run the benchmark feature. That will give you your cards hash rate for various algorithms and how much you can expect to make per day. The NiceHash miner automatically mines the most profitable coins and pays out in BTC. That may be a good option for you since you want to trade for LTC. With NiceHash you do make ~10% less than mining on your own for the convinience. Once you have your cards hash rate, if you want to mine on your own you can use whattomine.com to figure out what would be the most profitable to mine. |
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You can try OpenSSH for Windows. That will usually let you connect from a remote command prompt when the rig is frozen. Type 'shutdown /s /t 0' to shutdown right away or 'shutdown /r /t 0' to reboot. https://www.mls-software.com/opensshd.html |
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GPU mining LTC hasn't been profitable for years. It's ASIC only. If you want to accumulate LTC by GPU mining, you can mine another coin that is more profitable and trade for LTC.
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That's actually pretty good. Mine is almost half of that for about 1/3 of the power used. 350 H/s ETH + 10000 MH/s DCR dual mining and I have 1.1 KH/s on ZEC.
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Anyways, this is a thread to help someone start mining and we are trying to give them the truth that it may not be the best option to mine right now as GPU prices are still somewhat high and profits are down. Thanks for your input
Mining is long term investment. If you are looking to make quick cash by investing in a mining rig, then yes, you are probably going to be dissapointed. On the other hand if you don't care about making a quick profit and looking to accumulate coins for the long term instead, then mining is most certainly an option. Nobody knows where the market is going to be next week or next month. There are only costs and benefits to any descision you make. If I had just kept mining instead of stopping back in 2014 when the market REALLY crashed, I would be a lot better off than I am and I regret having made that descision. Fortunately, I did keep most of the coins I mined back then, so in the end it worked out. In the video below BBT explains from the persepective of someone thats been mining for a long time and built hundreds of rigs, 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 |
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Do not go with any MSI motherboard, I unfortunately learned the hard way and after spending a couple days trying to troubleshoot what was wrong with my machine (PSU, risers, GPUs, etc...), slowly learned that there are LOTS of people in the mining community who have issues with majority of MSI boards, which was unfortunate because I was originally recommended this board.. Anyways, I'm trying out these 2 now.. Both were recommend to me from several miners.. ASRock tends to be a very popular brand, but these are what I went with This one holds 6 GPUs using risers of course and https://www.newegg.com/Product/Product.aspx?Item=N82E16813157748This one holds 13 but I wouldn't recommend going over 6 per rig just out of stability and maintaining it to stay online... https://www.newegg.com/Product/Product.aspx?Item=N82E16813157781&cm_re=h110-_-13-157-781-_-ProductI haven't used the ASRock mobos yet but they are being delivered today, I can report back later tonight after I have everything setup if you'd like.. or send me a message Thanks for your valuable info, I never knew that MSI mobo is bad for mining. I would like to try asrock 13 gpu model on my next mining rig too, please do share us your experience with it, thanks Even GPU mining is a losing game. Forget getting a motherboard and possibly get an ASIC. You may not have the knowledge base for all that and could be throwing your money away, but the process will be quicker and the set up will be easier than building a system. Yeah, I wish I could get my hands on an ASIC, they are especially nice for those who have lower electricity cost. But right now mining profits are at an all time low, hopefully the market will come back and change that up and also bring us some new profitable coins. Maybe an all time low for you if you started mining in the last 3-4 months. Last time I checked, whattomine showed all the top minable coins were profitable. Many close to 0.75-$1 per day for a RX 580 after power. That is nowhere near an 'all time low'. When I stopped mining after the Scrypt/X11 crash in 2014, you would pick coins based on how little you would LOSE per month by mining. |
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Hi guys,
i had known about crytocurrent five months ago, but i only trading. The current market is unstable so I decided to keep it. i'm studying about mining, but my friends, they tell me forget it, present difficulty is too high. i don't mining BTC or ETH. Mining other small coins is easy but low profit. what should i do now?. please give me advice.
it's too late now, profit is dropping like a rock in the water, but not because of the value only but because there are too many miners, everyone and his cat is mining now lol, better to buy cheap coin and wait for the pump I wish that were the case. That's exactly how a decentralized POW network is intended to work. The more people participating and securing the network, the better off it will be. |
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Mining is a long term investment strategy. If you are looking to make quick cash by investing in a mining rig, that's probably not going to happen and you should listen to your friends. If you don't care about making a quick profit and want to accumulate coins for the long term instead, then mining is certainly an option.
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From this graphic, when using more than 8 cards, Asus is recommending using a maximum of 8 Nvidia and 11 AMD cards due to I/O space and driver compatibility on Windows.  BBT tweeted the Powercolor Red Dragon RX 570 cards he ordered for a 19 card build with this board came in, so he should do a livestream setup in the next couple of days.  |
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How many legs does a dog have if you call his tail a leg? Four. Saying that a tail is a leg doesn't make it a leg. - Abraham Lincoln
Don't go making accusations about someone just because you don't agree with his fee and don't know the facts.
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MSI Gaming X GTX 1080: ~570 H/s @ 180W. +130 MHz Core, +1000 MHz memory, Power Limit 75% and TDP 83C.
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