Just started mining

[impored]

Hello everyone, i'm from Portugal and i started mining on Nicehash today, i don't know much about mining expect basic stuff and i would like to get some tips for starting, how can i improve my mining system etc..
I currently use my main pc: i5 7400, 8gb hyperx (one slot) Asus expedition 1050ti 4gb (OC) power supply -  ATX - 500W - XFX XT Series 80 Plus Bronze. I have another pc with core duo 2,72ghz running just for cryptotab (extra cents)

i have a few questions:
- Should i invest in a small mining rig (2/3 gpus).
- how can i increase my pc to max for mining.
- How much should i get per week in profit. (i have solar panels, batteries and a small wind turbine, i can save a bit on eletricity bill)

Contact me:

Twitter - @impored

Steam - https://steamcommunity.com/id/upw

Thank you 

[1715113020]

1715113020

[1715113020]

1715113020

[1715113020]

1715113020

[minefarmbuy]

Thanks for your post but this will probably be moved to the altcoin sections of the mining forum since gpu miners typically don't mine bitcoin even if it is how you may have Nice Hash paying you out.

Bitcoin runs on SHA 256 algo and your probably (confidently) mining some other coin better suited for GPU's.

To answer your questions:

-Up to you.
-Research or as ask more specific questions.
-Depends on a lot of factors. Most will use whattomine.com for estimations.

Good luck.

[madnessteat]

At the moment (at the current rate) the payback of video cards is about 1.5 - 2 years. If you engage in mining for the future, the payback period may be reduced.

[xlm19877]

today and before 2 month the profit is very low

now the profit for stander gpus is 1.5/day

the best for you run your rig to mining direct coins

[adaseb]

At the moment (at the current rate) the payback of video cards is about 1.5 - 2 years. If you engage in mining for the future, the payback period may be reduced.

The guy has some solar panels so most likely the power rate is not an issue to him.

Don't know what the supply situation is in his country but if he can get some RX or some VEGA gpus he should be fine for the next year or so.

These days his CPU won't make much money since there are hardly any profitable CPU mineable coins but his 1050 could be mining different algos at the moment.

[jmigdlc99]

i have a few questions:
- Should i invest in a small mining rig (2/3 gpus).
- how can i increase my pc to max for mining.
- How much should i get per week in profit. (i have solar panels, batteries and a small wind turbine, i can save a bit on eletricity bill)

First of all welcome to the cryptomining scene. I've tried to answer your questions accordingly:


- Probably not. right now might very bad time to invest in mining because in just a few weeks the mining scene will be changed forever with the introduction of specialized mining machines called ASICs and this is just one threat of many others.
- Without purchasing additional hardware, the best you can do is maximize overclock settings while undervolting.
- You can use whattomine.com to estimate mining revenue as well as find the most profitable coins to mine.

[[Frederick]]

Don't focus too much on what earning you can have but focus first on thing you should know when starting mining since basic knowledge is essential for a good success.

[jillscarbrough]

Welcome to the forum and crypto mining world.

I agree with the comment above me. You can explore and gain you mining skill with current hardware at first. Know it how to optimize your device, how to find the most profitable coins, etc. Then you can upgrade your devices when you have ready.

You have an advantage with the alternative energy (solar panels, batteries, and a small wind turbine) as you said. And you can spend the time to do some experiment with your current device without worries about the electricity bill.

[socks435]

I think it is better to research first before you go in mining because if you don't have knowledge about mining you can't improve your mining profit instead you will lose in profit.
Anyway, if you are planning to build a rig with 3 GPU's you are on the right path and read some thread here that could help improve your profit by some software to increase your revenue per week.
Also, use some calculator if what algo is the best choice to make more profit weekly or daily.
Check this mining calculator from nicehash nicehash.com/profitability-calculator
and this one whattomine.com this calculator you can see all profitable coin sorted with the current difficulty or for 24hrs profit.

[starmax]

For maximizing your profit, it's very important to tune the power consumption of your system.  Run different tests with different overclocks/power settings, etc then calculate the profitability.  A Kill-A-Watt or some other watt meter is 100% necessary to get accurate results.

With an i5, you can choose to mine XMR (only 3 threads for 6MB of L3 cache) with your CPU to get a little more money out of your system, otherwise you can try to undervolt, underclock, disable 2 of your CPU Cores, to reduce power consumption.