WhatToMine profitabilty, should you mine based on this?

[portreathbeach]

Hi,

I'm new to mining and have currently been mining with NiceHash. I obviously get paid in BTC from there. I decided to have a look at mining other coins and went to WhatToMine.com

I entered my rig details and up pops a list of the most profitable coin to mine. What I don't really understand is the point in the profitability unless you are going to cash out every day. For example, you may go to WhatToMine everyday for a week and see that Pirl is most profitable. You could mine it for the week and think you are doing well, but on the next day, Pirl may be way down the list of 'most profitable' and the Pirl you have mined the past week has dropped in value. Therefore the profitability column seems pointless.

Before you all say "Prices of coins goes up and down and it's a gamble", I understand this, but any info on this subject would be much appreciated.

[CryptoDocker]

It's exactly what you have said. Profitability at WTM is based on how easy it is to mine a certain coin and what the last price was when traded at an exchange so it always fluctuates but generally the top 5 coins are fairly similar.

End of the day do you just want Bitcoin? If so stick to Nicehash or mine a profitable coin then trade it an exchange (daily probably).

[portreathbeach]

Thanks for the reply. So, do all the big players with large farms select the currency to mine each day on various rigs and then cash out (or convert to bitCoin) on a daily basis, or do they hold all the coins they mine?

I know some people mine a specific coin and hold it as they have faith that it will boom, but I'm unsure what to do.

Obviously NiceHash is a simple platform to start on and BTC is and probably will be the strongest currency for a while, so BTC payout is fine with me, but I did have a look into mining Pirl. This was mostly out of interest and learning how different Wallets and Pools work. With NiceHash it is all done for you and I like to learn exactly what is going on. I setup and ran my rig for an hour mining Pirl just to see everything working (Claymore connecting to the Pool and the Pool connecting to my Wallet etc.) just to make sure I had my head around how it all works. I then switched back to NiceHash as I don't really know much about Pirl, or any of the crypto currencies really, so I didn't want to waste my time on it until I do some more research on other coins.

I find it hard trying to work out what is going on with the various coins and the trends as most coins jumped up in value dramatically at the end of 2017, so the trend is hard to read.

I supose I'll do a lot more reading on other coins.


Another quick question:

Can I run Claymore miner and have it mine for NiceHash on 1 card and Pirl on another? I understand that unless I am using NiceHash Miner that it will not auto switch algorithms, so I'd have to stick with one (DaggerHashimoto or Equihash), but am curious and think that I would have a safe bet if I was mining on NiceHash and a gamble mining Pirl rather than putting all my eggs in one basket.

Also, if I set Claymore to mine to my Nicehash wallet and use Equihash, what currency will it actually be mining, or does it actually matter what Nicehash is mining, as long as I get paid?

[CryptoDocker]

Thanks for the reply. So, do all the big players with large farms select the currency to mine each day on various rigs and then cash out (or convert to bitCoin) on a daily basis, or do they hold all the coins they mine?

I know some people mine a specific coin and hold it as they have faith that it will boom, but I'm unsure what to do.

Obviously NiceHash is a simple platform to start on and BTC is and probably will be the strongest currency for a while, so BTC payout is fine with me, but I did have a look into mining Pirl. This was mostly out of interest and learning how different Wallets and Pools work. With NiceHash it is all done for you and I like to learn exactly what is going on. I setup and ran my rig for an hour mining Pirl just to see everything working (Claymore connecting to the Pool and the Pool connecting to my Wallet etc.) just to make sure I had my head around how it all works. I then switched back to NiceHash as I don't really know much about Pirl, or any of the crypto currencies really, so I didn't want to waste my time on it until I do some more research on other coins.

I find it hard trying to work out what is going on with the various coins and the trends as most coins jumped up in value dramatically at the end of 2017, so the trend is hard to read.

I supose I'll do a lot more reading on other coins.


Another quick question:

Can I run Claymore miner and have it mine for NiceHash on 1 card and Pirl on another? I understand that unless I am using NiceHash Miner that it will not auto switch algorithms, so I'd have to stick with one (DaggerHashimoto or Equihash), but am curious and think that I would have a safe bet if I was mining on NiceHash and a gamble mining Pirl rather than putting all my eggs in one asket.

Also, if I set Claymore to mine to my Nicehash wallet and use Equihash, what currency will it actually be mining?

Most of the big players will mine a specific algo remembering the fact that certain cards can mine currencies better than others eg AMD are good as DaggerHashimoto whilst NVIDIA is better at Equihash etc.

When you mine which Nicehash it benchmarks your hardware so it knows what would be more profitable for you to mine.

If you have 2 graphics cards yes you can run 2 instances of claymore and mine with nicehash/pirl but instead of that why not mine with Nicehash for a week then switch to Pirl and go back and forth etc - it achieves the same thing really.

If you mine Equihash with Nicehash you are mining Equihash but being paid in BTC

[HashAuger]

If you are mining with a pool instead of solo-mining, WhatToMine is often inaccurate because it fails to take a pool's difficulty and hash rate into account. Your devices might be more profitable mining one algorithm by themselves, but when combined with hundreds or thousands of other devices on a pool, some other algorithm might be more profitable. The prices on NiceHash depend on what the buyers on its marketplace are willing to spend, which may or may not be comparable to the earnings you would get mining on a pool.  There are also several pools that will automatically exchange your coins to BTC for you.

[fanatic26]

Thanks for the reply. So, do all the big players with large farms select the currency to mine each day on various rigs and then cash out (or convert to bitCoin) on a daily basis, or do they hold all the coins they mine?

Another quick question:

Can I run Claymore miner and have it mine for NiceHash on 1 card and Pirl on another? I understand that unless I am using NiceHash Miner that it will not auto switch algorithms, so I'd have to stick with one (DaggerHashimoto or Equihash), but am curious and think that I would have a safe bet if I was mining on NiceHash and a gamble mining Pirl rather than putting all my eggs in one basket.

Also, if I set Claymore to mine to my Nicehash wallet and use Equihash, what currency will it actually be mining, or does it actually matter what Nicehash is mining, as long as I get paid?

I run a large farm and for a variety of reasons do not switch coins all the time. For one, it creates an absolute NIGHTMARE when doing financials, and honestly we do not convert all that often. We might build up 200 ZEC before moving it when the market is good.

Claymore you can set specific GPUs, as long as the second miner you want can select the unused GPUs you will be just fine mining 2 coins like that.

Claymore setting:

-di    GPU indexes, default is all available GPUs. For example, if you have four GPUs "-di 02" will enable only first and third GPUs (#0 and #2).
   You can also turn on/off cards in runtime with "0"..."9" keys and check current statistics with "s" key.
   For systems with more than 10 GPUs: use letters to specify indexes more than 9, for example, "a" means index 10, "b" means index 11, etc; also "a", "b", and "c" keys allow you to turn on/off GPU #10, #11 and #12 in runtime.

[portreathbeach]

So in the .bat file, I could use -di0 and then enter the rest of the stuff that is normally in there (mining pool, address etc.) and then and fter than I could put -di1 and enter a different mining pool and address?

[Jaycee99]

OP, Portreth I suggest you read the background of altcoins that you may encounter. I can say that etherium, rapple, xrp or xlm can be profitible in terms also of the value and what does it support. My best altcoin that I can suggest to you is etherium as per my research ethereum can have the abality to act like bitcoin itself. And yes your right OP everything is a gamble when its in mining or trading

REMEMBER FOR NOT JUST FOR OP BUT FOR OTHER MINERS TOO risk is here especially when market value is getting low.

[Digital Drug Lord]

In crypto anything can be worth 0 over night

You have been warned

[Raja_MBZ]

I personally mine Ethereum using Claymore Ethash Miner but I've heard that NiceHash automatically switches to best profitable coin for mining and pays out through bitcoin, so why're you planning to switch?

BTW, if you don't wanna gamble with ups and downs of low-volume alts, I'd suggest you to mine some stable coins like Ethereum or Ethereum Classic instead.

[portreathbeach]

Thanks for the replies.

Can someone explain how I can get Claymore to mine Nicehash and Pirl at the same time.


I can get Claymore to mine Nicehash using this:

EthDcrMiner64.exe -epool stratum+tcp://daggerhashimoto.eu.nicehash.com:3353 -ewal 3FfNX1Bw9hhi3dnJZ9ucGvR1ERu57ysYv7.worker -epsw x -esm 3 -allpools 1 -estale 0


and I can get Claymore to mine Pirl using this:

EthDcrMiner64.exe -epool pirl.minerpool.net:8004 -ewal 0xAdeEefFCfDe4022Dc5C3E958d175BA18b823d3de -epsw x -ethi 8 -allpools 1 -esm 0 -allcoins 1


but I cannot seem to combine these into one .bat file. I've used -dwal and -dpsw etc. but I get a socket connection error.


Is it possible to actually do what I'm trying, and if so, can GPU0 and GPU1 mine for the Nicehash pool and GPU2 mine for the Pirl pool? Still learning this stuff and help is much appreciated.

[Raja_MBZ]

Thanks for the replies.

Can someone explain how I can get Claymore to mine Nicehash and Pirl at the same time.


I can get Claymore to mine Nicehash using this:

EthDcrMiner64.exe -epool stratum+tcp://daggerhashimoto.eu.nicehash.com:3353 -ewal 3FfNX1Bw9hhi3dnJZ9ucGvR1ERu57ysYv7.worker -epsw x -esm 3 -allpools 1 -estale 0


and I can get Claymore to mine Pirl using this:

EthDcrMiner64.exe -epool pirl.minerpool.net:8004 -ewal 0xAdeEefFCfDe4022Dc5C3E958d175BA18b823d3de -epsw x -ethi 8 -allpools 1 -esm 0 -allcoins 1


but I cannot seem to combine these into one .bat file. I've used -dwal and -dpsw etc. but I get a socket connection error.


Is it possible to actually do what I'm trying, still learning this stuff and help is much appreciated.

No, it's not possible. You can't be mining both at the same time as far as I know. Mine any one of those, not both.

[portreathbeach]

But I thought you could mine two different currencies in Claymore. I've read that you can set the -dpool -dwal and -dpwd for one account and then -epool -ewal and epwd for the other.

[mbdmbn]

You can mine both using the "-di" command. What you have to do is have claymore in two directories, say one on your desktop and another in a folder that you call whatever you like. Then you set your cards using "-di 01" and in the other claymore you use "-di 23" assuming that you have 4 cards.

[SpceGhst]

Is it possible to actually do what I'm trying, and if so, can GPU0 and GPU1 mine for the Nicehash pool and GPU2 mine for the Pirl pool? Still learning this stuff and help is much appreciated.

Theoretically, it is possible.  Edit your Nicehash .bat and include the command -di 01.  Edit your Pirl .bat and include -di 2.  You have to run each .bat by itself and you will have two instances of Claymore running, but, it should work... in theory.

[Raja_MBZ]

But I thought you could mine two different currencies in Claymore. I've read that you can set the -dpool -dwal and -dpwd for one account and then -epool -ewal and epwd for the other.

You can't dual mine two coins like that "at the same time" with Claymore. The dual miner of Claymore allows you to mine light coins like Decred and Siacoin (Blake algorithms) along with Ethash (like Pirl or Ethereum) but you can't mine Nicehash and Pirl at the same time.

But remember, I'm talking about dual mining. If you want to use power of your one GPU to mine something and power of another one to mine something else, you may do this:

You can mine both using the "-di" command. What you have to do is have claymore in two directories, say one on your desktop and another in a folder that you call whatever you like. Then you set your cards using "-di 01" and in the other claymore you use "-di 23" assuming that you have 4 cards.

[portreathbeach]

I just tried Claymore in two different folders and starting each one to get two instances running.

Each one works fine on it's own, but after one is running, when I start the other I get an error:

server: bind failed with error 10048 (port for remote management is busy...



I think I'll stick with Nicehash for a bit until I learn a bit more

[SpceGhst]

I just tried Claymore in two different folders and starting each one to get two instances running.

Each one works fine on it's own, but after one is running, when I start the other I get an error:

server: bind failed with error 10048 (port for remote management is busy...



I think I'll stick with Nicehash for a bit until I learn a bit more

Add the command -mport 0 to each bat and see if it works then.

[portreathbeach]

Thanks SpceGhst, that worked.

Added -mport 0 into both .bat files and ran them. I then had two instances of Claymore running and I could see connections on both the Pirl pool and on Nicehash.


And it seems to work without having to have two copies of Claymore in two separate directories too.