Noob with a question

[bitcointroy]

 
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

[davis196]

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.

[byvalyi]

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.

[bizalaz]

It's good.  Of course, it's better to add video cards, and the more video cards the better, the higher the profit.

[bitcointroy]

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?

[parkers]

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.

[PotatoM12]

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.

[evoqon]

Of course increasing graphics card will increase your income, but you have to calculate the ROI of your graphics card investment.

[botmanside]

omg you spend a one fucking whole day with reading?
hope your head is not aching...

[bitcointroy]

I enjoy it. I will be doing this as a hobby 

[baga105]

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)

[shibob]

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