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Author Topic: Mining strategy suggestions/ Constantly checking What-to-Mine hurting home life  (Read 691 times)
bones261
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November 11, 2017, 03:24:16 PM
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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.  Cheesy 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.

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November 11, 2017, 03:44:21 PM
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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.

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bones261
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November 11, 2017, 04:24:11 PM
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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.  Undecided
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.

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November 11, 2017, 04:40:41 PM
 #4

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

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

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November 11, 2017, 04:41:53 PM
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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. Tongue

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November 11, 2017, 04:59:53 PM
 #6

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.
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November 11, 2017, 05:10:28 PM
 #7

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.

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November 11, 2017, 05:57:13 PM
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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.
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November 11, 2017, 06:09:47 PM
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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.

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November 11, 2017, 06:19:42 PM
 #10

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.

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November 11, 2017, 06:25:33 PM
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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.  Cheesy

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November 11, 2017, 06:28:06 PM
 #12

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.  Cheesy 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.

You can try NiceHash or Winminer
https://bitcointalk.org/index.php?topic=2004875.0
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November 11, 2017, 06:29:58 PM
 #13

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.

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November 11, 2017, 06:38:26 PM
 #14

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

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November 11, 2017, 08:27:33 PM
 #15

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.

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November 11, 2017, 08:41:33 PM
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You remind me of myself when I just started Smiley 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.
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November 11, 2017, 08:48:47 PM
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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.  Cheesy 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 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

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bones261
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November 11, 2017, 09:00:37 PM
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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.  Cheesy 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 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.

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November 11, 2017, 09:15:38 PM
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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

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?
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November 11, 2017, 09:28:19 PM
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try some autoswitching miner like Megaminer (https://bitcointalk.org/index.php?topic=2059039) or Nemosminer (https://bitcointalk.org/index.php?topic=1777336.0)
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