Hello,
Excuse my ignorance, but I was hoping someone could briefly elaborate on the time investment needed to run a successful 6-8 gpu rig once it is fully operational. How much time do you spend on a daily basis to research what coins to mine, when and where to transfer the value of the coin, troubleshooting software/hardware, optimizing hashrate, and anything else that I am likely leaving out?
I am capable of doing the research to make this happen, but only if my sparse free time is not completely consumed in this complex system. I can't say that building computers is my hobby, but I can say I am excited for the future of this technology.
Thanks to anyone taking the time to read this.
If you're brand new, it's best to take your time and read through this forum before investing in a mining rig.
Usually, I mine the most profitable coin of what I consider *relatively* stable coins (but I still check it multiple times per day), until I make enough selling (or holding and then selling) to pay back the initial cost of the specific rig. After that, I sometimes play around with more speculative options. Simply being an active member of this forum can show you some promising new coins that may be worth mining, but I don't usually spend lots of time actively looking for the best coin of the day to mine, since that's a lost cause. (For example, WhatToMine's rankings change multiple times per day, so trying to follow the most profitable coin will almost certainly end with you holding small amounts of several shitcoins.)
Generally stick with major, reputable exchanges, and I would strongly recommend not storing your coins (long-term) in an exchange. Only mine to a wallet where you have exclusive control over the private keys, then send them to an exchange as-needed.
Troubleshooting after the rig is successfully up and running is usually not a big problem. Sometimes components fail and need to be replaced. However, there are steps one can take to help make the rig stable. (Keep it in a safe area, use quality components, keep core temperatures at safe levels, etc.)
Optimizing your hashrate is mostly a matter of finding the best mining software for your hardware, finding the right drivers, and the best clock settings. How much time you want to spend fine-tuning or researching the last one is entirely up to you.
Overall, running one or more mining rigs does not require a consistent time commitment once you have them running stable, but you may see better results by staying up-to-date.
