is mining altcoins with gpu worth the effort?

[Mr.Dick]

Hi folks,

me and a friend of mine wondered if its worth to mine altcoins by using a motherbord and some gpus? hes more into hardware then i am but my concerns are that there are mining pools for btc which change to new CC's  so the effort to mine new CC's will increase (algorithms will get more complex won't they) in a crazy amount of time?
What do you think?

[gsanjin]

In short:

First, BTC is not mined by GPU's for few years already.

Second, if you're not into hardware (gpu's and hardware maintenance), OS'es and command line programs (miners) it's not worth effort - you'll just waste money, time and electricity (which means money again).

[tekke]

if you live in a country with cheap electricity you can make some profit out of it.

[cpmcgrat]

Hi folks,

me and a friend of mine wondered if its worth to mine altcoins by using a motherbord and some gpus? hes more into hardware then i am but my concerns are that there are mining pools for btc which change to new CC's  so the effort to mine new CC's will increase (algorithms will get more complex won't they) in a crazy amount of time?
What do you think?

That all depends on whether or not you think it is and how you're going to liquidate your currency. Personally, I see my mining rigs more as speculation tools. I may not make money short term, but it they allow me to get early access to new currencies when they pop up and diversify myself. That way, if one shoots up (which they definitely do sometimes) I end up making a profit, even though the short-term gains initially looked slim.

[bitfools]

In short:

First, BTC is not mined by GPU's for few years already.

Second, if you're not into hardware (gpu's and hardware maintenance), OS'es and command line programs (miners) it's not worth effort - you'll just waste money, time and electricity (which means money again).

The OP is asking about ALT-COINS, BTC is not an ALT.

This thread is an alt-thread, so why are you mentioning BTC?

To answer the OP's question "MINING" is a HOBBY,

CPU mining is impossible, but it can be useful to learn, as GPU's are expensive,

GTX-1060-6 is $300, 1070 is $600 and 1080 is $1000, thus your talking a serious investment, say a rig of 6x 1060-3's (3gb) are $200, and -6gb are $300

U ain't going to get anything with ONE GPU card, nada, not even a handful of BTC-Z per day, which is the easiest, but they're only worth 0.0005 USD, less than 2.5 cents . U will spend 30 cent on electricity. Note with laptop mining an internal GPU to set --templimit to 72, you don't want to burn up your expensive laptop, as the default is 90C, which will melt you laptop and make it smoke in no time.

CPU mining is a waste of time even with 2 Satoshi coins like BTC-z, Ethereum is pretty much impossible these days, z-coins like zencash,zcash,zclassic,hush are most profitable and all use equihash ALGO.

GTX-1060-3 system for $1400? U rich guy??

 You can jump to a 1070 system which is $1800 for six cards and $200 for mobo+cpu+mem+hd, so $2000 will get you 3,000 sols/sec now your $15/day (USD) $450 month ( electricity 6*120watts=$80 month)  and you pay off your hardware in about six months

The preferrable and most profitable right now is zen-cash, but a single GPU will NOT even cover the cost of electricity assuming your paying 0.15 USD per kilo-watt-hour.

U need scale to mine, so say you have this rig of 6-1060-3's and your mining zen-cash, that's about 1800 sols/sec, or about $10/day zen today, so that be $300 month, but $50/month for electricity, so profit $250/month, but your HW cost you $1400, so it takes 5 months to break even before you see your profit.

Some full-nodes ( like bitcoin-z ) support automatic cpu mining, problem is you will NEVER see a block, so its best to LEARN to mine with a GPU using your laptop, say you have a basic laptop with a MX-940 GPU, then you can run ccminer, miner-ewbf, or any gpu equihash miner and get 50 sols/sec, which will net you about 10-20 bitcoin-z's per day on btcz.suprnova.cc ( good place to learn )

Problem is with your laptop GPU getting 50 sols/sec, is that say you mine zen-cash ( zen.suprnova.cc ) it will take months to get ONE zencash coin.

Mining is largely a very interesting hobby.

www.whattomine.com is your friend, you punch in theoritcal HW you may have and it will tell you what-to-mine, and how much money you will make.

In general don't expect to make money. Expect to have an interesting hobby.

Say you have ONE 1060-3 you buy  for $200, and put in a computer, expect to get 300 sols/sec, which will get you 50 BITCOIN z's per day, or about 25 cents per day, ... enjoy getting rich.

***

IMHO gtx-1060-3 rigs have best bang-for-buck, but they'll set u back $1200/rig, and you earn $10/day after 6 months ( less electricity $1.5/day ), so say $8/day profit after six months. Then consider this is a full-time hobby, and consider where you keep this bitch, it generates heat, think of a 600 Watt hair-dry blower blowing hot air in the bathroom 24/7?

One thing nice about these rigs is they don't make any noise, unlike say BITMAIN which sounds like an aircraft jet engine running in your house.

[allcryptominer]

It can be depending on how much the electricity is in your place.

Where I live electricity is expensive (around 0.2 kwh) and it's not very profitable at the moment and that's why I haven't expanded with more cards.

[bitfools]

Hi folks,

me and a friend of mine wondered if its worth to mine altcoins by using a motherbord and some gpus? hes more into hardware then i am but my concerns are that there are mining pools for btc which change to new CC's  so the effort to mine new CC's will increase (algorithms will get more complex won't they) in a crazy amount of time?
What do you think?

That all depends on whether or not you think it is and how you're going to liquidate your currency. Personally, I see my mining rigs more as speculation tools. I may not make money short term, but it they allow me to get early access to new currencies when they pop up and diversify myself. That way, if one shoots up (which they definitely do sometimes) I end up making a profit, even though the short-term gains initially looked slim.

Rigs are many things, I will list WHY

1.) Anonymous purchase, NOBODY knows you  have the coin when you mine, when you PURCHASE coin the tax-man KNOW you GOT it, and they expect you to declare it, ...

2.) I think of MINING as FREE-COIN, I never BUY the shit, just mine and get it FREE

3.) U learn a lot when you mine yourself, U learn how the shit really works, and you learn how to be YOUR OWN EXCHANGE, and never keep your coin ( private keys ) with another party.

#1 is the most important, U want to INVEST in ALT-COINS, but you don't want to put a SIGN on the DOOR of your house that SAYS 'I have gold & guns in this house', to have wealth that NOBODY knows, not your wife or DOG is key to keeping your money in a world of "Theft by Government's"

[bitfools]

It can be depending on how much the electricity is in your place.

Where I live electricity is expensive (around 0.2 kwh) and it's not very profitable at the moment and that's why I haven't expanded with more cards.

CRITICAL POINT  here, and you don't want the GOV to know, just like pot growers, once your ELEC usage goes above say $200/month, you brint all kinds of authority's looking at you, especially when your running 24/7, which means your doing something strange.

Having a few miners and accumulating coin, learning is ok, but once you start a "Mining Farm", then you need 3-phase 440V service, a warehouse, and your talking a REAL-BIZ and insurance costs, and ... blah-blah thus IMPOSSIBLE to make money.

Even the big farms in iceland & europe went BK ( bankrupt ), we only see consistent mining in CHINA where the politically connected can get free excess electricity from the new giga-watt-dams they have built in the last 20 years. But even in China, the large users of electricity are well connected with GOV.

Keep it Small, Keep it Simple.

Another thing about GPU MINING is redeploy is easy, you can do anything, I had GPU's 5+ years ago for MACHINE-LEARNING CUDA, so I don't worry if I quit mining, then I'll use my rigs to do ML and do something MORE interesting than accumulate alt-coins.

I agree over 0.20 KWH cost, your talking about 50% of your profit ( less hw ) going just to the ELEC Company, I think the smart thing for young ppl to think about is low-cost solar-farms, design simple low cost GPU farms, that can run off a battery and be charged during day, then elec would be free, and once you tune your rig to minimal power, then its life is greatly enhanced.

I don't worry about power-cost, but if I say lived in Arizona, or some place sunny all the time, I would seriously consider generating electricity. 300 watts per panel, probably six panels at $200, you could run a rig 24/7 just fine, using some good RV battery's at night to power a 600 Watt rig 24/7. Panels wouldn't matter they last forever and can be re-deployed, like the GPU cards.

Building your own charge-controller for battery panels, then you can do away with the CPU power supply, you wouldn't lose any loss, as you don't need 110v, so that save 200 watts right there as power-supplys are terribly inefficient, lower power cpu can control the miners with say linux on banna-pi ( cpu that costs $10 ), I think the chinese will have many gtx-1060-3 class cards out soon that will work low-power, say less than 50 watts each, also some of the new btc mother-boards can support 12+ gpus, ... again going SOLAR then the GOV has no idea your even alive, off the grid mining.

Right now the gtx-1060-3 cards I use are chinese clones of the NIVIDIA, work great. They're working on cloning the NVIDIA chip, so prices for GPU mining will drop dramatically in the future. Right now I'm spending more time on this with my ARM7 systems, looking into gpu mining as these systems run on about 10 watts rather than the 250 watt bullshit of a full BTC mobo with power-supply

Probably see chinese gpu-sticks (usb) very soon, that you can plug a rack of into your rasberry chinese clones

[bitfools]

In short:

[Mining BTC on a GPU, what a great idea? Wow those BTG guys at bitcoin-gold are smarter than newts.

This BOT OP is suspicious, but its a good question

First, BTC-clones have been mined by GPU's for few years already. BTG MARKETING is that this is something NEW, it is NOT NEW.

The question begs to ask "WHAT IS BITCOIN GOLD"? GPU mining of Bitcoin? Right

Problem for the OP-BOT is that this is NOT new there are dozens of BTC clones that are based on equihash (GPU algo) that have existed for years, BTG is not a new concept.

Lastly, of course BTG doesn't have shit to do with BTC, not the same block-chain, not anything is the same, the only thing connected of BTG with BTC is that BTG gave pre-fork BTC holders an 'air-drop', but that's the ONLY connection.

I say if you want to mine GPU BITCOIN clones, then mine BITCOIN-Z BTZ-C and right now you can earn 2,000/day with a basic 1060 rig.

[allcryptominer]

Good points there @bitfools

Do you have a link or something where i can check out the chinese cards you using?

How long have you had them mining for? And how are the performance compared to original?

And what is ARM 7?

[seasonw]

GPU mining is less profitable nowadays, unless we are risking to mine some new coins, and hope the coins' value grow. Popular coins like ETH, ZEC no longer make good profit.

[Mr.Dick]

In short:

First, BTC is not mined by GPU's for few years already.

Second, if you're not into hardware (gpu's and hardware maintenance), OS'es and command line programs (miners) it's not worth effort - you'll just waste money, time and electricity (which means money again).

The OP is asking about ALT-COINS, BTC is not an ALT.

This thread is an alt-thread, so why are you mentioning BTC?

To answer the OP's question "MINING" is a HOBBY,

CPU mining is impossible, but it can be useful to learn, as GPU's are expensive,

GTX-1060-6 is $300, 1070 is $600 and 1080 is $1000, thus your talking a serious investment, say a rig of 6x 1060-3's (3gb) are $200, and -6gb are $300

U ain't going to get anything with ONE GPU card, nada, not even a handful of BTC-Z per day, which is the easiest, but they're only worth 0.0005 USD, less than 2.5 cents . U will spend 30 cent on electricity. Note with laptop mining an internal GPU to set --templimit to 72, you don't want to burn up your expensive laptop, as the default is 90C, which will melt you laptop and make it smoke in no time.

CPU mining is a waste of time even with 2 Satoshi coins like BTC-z, Ethereum is pretty much impossible these days, z-coins like zencash,zcash,zclassic,hush are most profitable and all use equihash ALGO.

GTX-1060-3 system for $1400? U rich guy??

 You can jump to a 1070 system which is $1800 for six cards and $200 for mobo+cpu+mem+hd, so $2000 will get you 3,000 sols/sec now your $15/day (USD) $450 month ( electricity 6*120watts=$80 month)  and you pay off your hardware in about six months

The preferrable and most profitable right now is zen-cash, but a single GPU will NOT even cover the cost of electricity assuming your paying 0.15 USD per kilo-watt-hour.

U need scale to mine, so say you have this rig of 6-1060-3's and your mining zen-cash, that's about 1800 sols/sec, or about $10/day zen today, so that be $300 month, but $50/month for electricity, so profit $250/month, but your HW cost you $1400, so it takes 5 months to break even before you see your profit.

Some full-nodes ( like bitcoin-z ) support automatic cpu mining, problem is you will NEVER see a block, so its best to LEARN to mine with a GPU using your laptop, say you have a basic laptop with a MX-940 GPU, then you can run ccminer, miner-ewbf, or any gpu equihash miner and get 50 sols/sec, which will net you about 10-20 bitcoin-z's per day on btcz.suprnova.cc ( good place to learn )

Problem is with your laptop GPU getting 50 sols/sec, is that say you mine zen-cash ( zen.suprnova.cc ) it will take months to get ONE zencash coin.

Mining is largely a very interesting hobby.

www.whattomine.com is your friend, you punch in theoritcal HW you may have and it will tell you what-to-mine, and how much money you will make.

In general don't expect to make money. Expect to have an interesting hobby.

Say you have ONE 1060-3 you buy  for $200, and put in a computer, expect to get 300 sols/sec, which will get you 50 BITCOIN z's per day, or about 25 cents per day, ... enjoy getting rich.

***

IMHO gtx-1060-3 rigs have best bang-for-buck, but they'll set u back $1200/rig, and you earn $10/day after 6 months ( less electricity $1.5/day ), so say $8/day profit after six months. Then consider this is a full-time hobby, and consider where you keep this bitch, it generates heat, think of a 600 Watt hair-dry blower blowing hot air in the bathroom 24/7?

One thing nice about these rigs is they don't make any noise, unlike say BITMAIN which sounds like an aircraft jet engine running in your house.

thanks a lot

[Haryford]

if you live in a country with cheap electricity you can make some profit out of it.

The GPU mining is too competitive. It is only profitable if your electricity price is low.

[leemaster]

Dont waste time and electricity if you plan to mine already developed coin just trade it with that money. But if there is a new coin to mine and hold, it is a good way.

[Wildsss]

Home pc no way?

[sergio red]

if in your country price of electricity is low,then you can try. because when the price of electricity is high it gives less than your effort. mining becoming competitive.

[The Demon Slick]

I have a rig I bought for video games, msi x99s/i7/2 580 8GB saphires, it was just sitting there most of the time, now I have it mining when it's not in use. Currently mining electroneum, spacepools, get about 60 per 24 hours, at .18 usd thats about 10$ a day, minus electricirty. I could tweak it for more but it would mess me up when I go all video games and drinking on a saturday night. It's not really aa lot of money, but it's literally like free extra money for me. Chasing bitcoin is an investment. Alt coins are like free stuff that I get on the side. If you want to get all serious about it, check out the rigs for sale online to see what you're up against. A little OT, I would love to crush some Star Wars Battlefront II or Battlfield one night with 12 1080s, all maxed for gamez, man that would be a trip.

[jintruder]

Mr.Dick, no, it's definitely not worth mining altcoins

[ma2005]

I set up a rig with not much effort. I followed the BitsBeTrippin youtube channel. Once setup I can almost forget about it and it acts as a heater too which is nice now in January, but may have to move it in the summer time.

[Haryford]

I set up a rig with not much effort. I followed the BitsBeTrippin youtube channel. Once setup I can almost forget about it and it acts as a heater too which is nice now in January, but may have to move it in the summer time.

Do you the most profitable coin and just mine one coin?