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(Didn't type the title correctly) (Thoughts on setting up a BTC Mining farm) Hello, been looking at bitcoins for quite a few years now watched the market go up and down traded bitcoins here and there to make money though since the start i was interested in mining though didn't have enough spare cash to start. Do you think mining is dead? I personally don't which is why im keen on starting. I have an air conditioned bungalow with 2 mains running out there a solid internet connection and plenty of space. Only thing worried is about power usage i have calculates estimated earnings though it seems like half of the earnings will go towards power usage. But we are currently hooking up a 10kw solar system to the house which should hopefully help Im also aware that the way mining works is based on luck and some equations i understand as well its not guaranteed Im looking at eventually running a 350th/s mining farm though i will be starting off at 40.

I haven't had any one to talk to about this except couple of others which have no clue. All questions welcome:). No one here has told you anything true. You can mine ETHERIUM (bitcoin is dead yes) and make $600+ per month with a 5 or 6 video card machine right now. The main problem is getting the video cards, as everyone else has the same idea and they are going for double their retail price on ebay.

Most computer shops I spoke to said they *might* have stock early next month at best. Try finding a radeon 480/570/580 for any affordable price (these are the most efficient cards by far) – then try finding 5 more. You just can't compete with the processing power of Chinese farms. Ignore power pricing etc as it's a secondary issue. The biggest issue facing new entrants into the mining market is the sheer amount of processing power required.

The big farms are running the equivalent of tens of thousands of video cards and this requires a lot of space to house the computers and still provide some kind of thermal management. Once you buy a few thousand video cards and associated hardware, then the price of power can be considered. Of course with the price of video cards – even in bulk – being fairly significant, you'll need to have a spare million or so. Mining bitcoin is not profitable in Australia unless you have excess solar power, but that would probably be a waste of time as you need to mine 24/7 to offset the cost of constantly upgrading hardware. Even if you have excess 'free' solar power it may cost you money to mine.

Consider the FIT on excess solar power. Red Energy is paying 18c/kWh in SA, and that's income tax free. Your mining operation would need to achieve that, after tax, just to break even with selling power. And then you have the risk of buying ASIC miners from overseas. There's potential for being ripped off or having the miner fail.

There's a risk of not achieving ROI. Meanwhile, just selling power quietly to the grid yields 18c/kWh.

From day one, risk free. Chinese miners are using power purchased at maybe US$0.05/kWh and running 24/7, meanwhile a pure solar miner would be running maybe 7 hours during winter, and 14 in summer. I wonder what the turnover rate is for equipment. Do they run them to the ground?

Or run them to 80% and then onsell them as 'barely used'? Given the shortages of cards, could work out cheaper to onsell after a given amount of hours For Chinese ASIC farms, they use the equipment as long as it's profitable. It's then thrown out or sold to someone who doesn't know how to do ROI calculations. Back in 2013 when ButterFly Labs was selling the first popular, mass produced ASICs there were lots of accusations the company was using customer's equipment to do mining before shipping it. I have some GPUs whirring away at Ethereum, and it has crossed my mind more than a few times that I could make a handy profit by dumping the used cards onto eBay.

Was looking into the trusty antminer s9 that every one is using so couldnt be a scam Yes, Bitmain is 100% legit and isn't a scam. Start small see if it works gamble yes though if the first month looks like it will cover elec costs and small profit i will continue for a year and see where i am. Why would you spend 6k to test your plan out rather than using a calculator and simple maths?

It definitely is not profitable to mine bitcoin in Australia. Power is way too expensive and you're competing with people that have much cheaper power and can get hardware much cheaper as well.

Sure, do it as a hobby if that's something you enjoy, but don't expect a profit. If i loose 6k owell im young plenty of years to fix my mistake money must grow on tress for you.

6K when I was a teenager was 11 years of pocket money. It was also 2,000 hours of working for the parents. Do the numbers / costs and you will find it is not worth doing. And that is even before you take into account how bitcoins and similar ones work. The more people that get in, the more processing power int he 'group' and the harder the coin is made to work out, and the more processing power you need. Each time I have looked at it (when newer hardware comes out), each time it worked out that I would get my purchase money back in about a year, at which point I might be lucky to find/mine enough to cover the power bill. The only way to make money(with our power costs) is to buy the coin directly to start with, not to mine it.

Each time I have looked at it (when newer hardware comes out), each time it worked out that I would get my purchase money back in about a year, at which point I might be lucky to find/mine enough to cover the power bill. Well, look at it again now then. A 1080ti pays for itself in 120 days or less, AFTER power costs. Lower cards take 90 days or so if you can find one that's not too overpriced. There's a reason why people are laying out so much money on this – it generates so much MORE than they spend.

Was looking into the trusty antminer s9 that every one is using so couldnt be a scam. Im going to go ahead with it. If i loose 6k owell im young plenty of years to fix my mistake start small see if it works gamble yes though if the first month looks like it will cover elec costs and small profit i will continue for a year and see where i am. I can see how this would be profitable if you had free/ very cheap electricity or if BTC grows much stronger.

Using a calculator with increasing difficulty (), you would have made a total US$2118.23 on your 6th month, and from there on, electricity costs will exceed your earnings. Variables used – 5x Antminer S9: - Hashrate = 13.5 TH/s * 5 = 67.5 TH/s - Power: 1323 W * 5 = 6615 W - Power cost = US$0.21 This is before taking into account the cost of 5x Antminer S9: US$1099 * 5 = US$5495 EDIT: I should have used 1x to make things more clear: Total earnings of US$423.72 on the 6th month, then electricity costs exceed earnings. Power: 1323 W Cost of 1x Antminer S9: US$1099. A 1080ti pays for itself in 120 days or less, AFTER power costs. Lower cards take 90 days or so if you can find one that's not too overpriced.

There's a reason why people are laying out so much money on this – it generates so much MORE than they spend. Yes, but only if difficulty is constant. Maximum earnings would have been reached on the 2nd month, at around US$80, and then electricity costs starts to exceed earnings. A cost of a 1080ti is over A$1100, which would take forever to pay itself off if you had free electricity. Im running 3 GTX1070'S Currently mining verge XVG returning about 5000 coins per day. Which equates to $23 AUD.

Might not seem like much but this coin has a lot of potential to boom this month. 0.003405 USD is current price, likely to see 1 cent this week, check out this coin yourself, based on the original bitcoin source code, with many features built in to make it completely anonymous. TOR android wallet is supposed to be released this week. Imagine foreign workers sending half of there wages from Australia to their brothers phone in India without a third party such as banks. No fees, completely anonymous.

India have legalised bitcoin Australia doesn't charge GST when you purchase crypto's anymore either as the gov wants fintech industry to boom in aus. Antminer S9 tend to break down easy. Most of these BTC operations are now in China where electricity is dirt cheap and where these Antminer's are made, so if something breaks, they can get fast replacement/repair. I wouldn't run several S9s at home though. Some guy did that in the US and cops raided his house and took all his computers and bitcoins because the electricity company tipped them off. Using too much power at home is red alert for weed growing ops.

Of course this happened a few years ago when the world didn't know what a Bitcoin was, so I'm sure power companies and cops have have wised up now. Or have they? I wouldn't run several S9s at home though. Some guy did that in the US and cops raided his house and took all his computers and bitcoins because the electricity company tipped them off.

Using too much power at home is red alert for weed growing ops. Of course this happened a few years ago when the world didn't know what a Bitcoin was, so I'm sure power companies and cops have have wised up now. Or have they? What about setting up solar and batteries?

A 10kw system here can be purchased for around 10k (with subsidies, STC credits for a property, not sure if you can do it for a business or how that works). A 10kw solar system in the USA is north of 30k, plus batteries.

Noob question: if you mine that many coins per day, wont there be over supply of coins on day and push its value down????? Yes, but the amount of inflation is negligible if you consider that you are adding 5000 to the existing supply of 13,409,474,280 and this is less than the inflation on your fiat money when you consider the adoption rate etc. I'm not familiar with XVG, but the max supply will be 16,555,000,000, which means the generation of new coins will probably slow down over time and eventually stop. For example, with bitcoin there is currently 12.5 bitcoins generated every 10 minutes and the rate halves every four years. There will never be more than 21 million bitcoins. Do you get these if your system is not grid-connected? No Do you still get these if your system is a 10kW system?

Yes, depending on your area to get it installed. You should still also get it even if your are export limited / export disabled (not allowed to feed into the grid due to over supply in the local area). I had a feeling that a number of states were limiting owners to only a 5kW system. True, some suburbs have a zero KW export requirement as well (too many solar installs in the area exporting more power than the other users are using. Put yourself in the cloud mining companies shoes. If you own a profitable mining farm then why would you sell off parts of it for other people to take cuts of your profit.

Makes no sense. A few reasons. For them, they get a assured income.

Mining can be a bit of luck to get the answer/coin before someone else who is also working on the same segment/section of the block. Mining services are prone to normal issues, so they can break down but still get paid by you (as they are allowed 'downtime'. And as the mining gets harder, they hope you do not keep track of the bills all that well (ie: setup auto credit card debt then no realize until much later that you are still being charged while getting cents on the $ back from mined coins). OR better still, you sign up for a 12 month 'deal' when they know it will be too hard to mine in 3 months.

Or worse still, both occur (ie: sign up for 12 months, only make money for the first 3 months, stuck in the contract for another 9, but you forgot to untick the 'auto renewal' on the 12 month deal and so get signed up again before you can cancel. But I do agree, the cloud group would only be doing it if they have an angle, otherwise they are not making money and so have no reason to offer the service. Noob question: if you mine that many coins per day, wont there be over supply of coins on day and push its value down?????

All bitcoins have a self checking system in place so that as more get mined, more processing power is needed for the next one, so over time it becomes pointless (does not pay the power bill) unless you have some way around that limitation (ie: dedicated hardware). Though the 5000 coins per day example (have not read back in the thread) is for everyone who is mining, not each miner. Noob question, what do you buy with these coins, apart from paying off hackers? Ideally, the idea is that you can buy anything like groceries to cars. In practice, it is generally not being accepted due to the changing price levels. So it is left for the other purposes where you do not want to leave much of a digital trail for others to see what you are doing.

Given how the systems have developed, most coins refer back to the original bitcoin and from there to US dollars. Most people who mine are either storing the coin or trading them off (eventually for cash) to pay for things (like power and more hardware ect). The people who are buying are either investors (aka gamblers) or people wanting the above advantages. Be that illegal or semi-illegal (moving money around unnoticed).

I say the latter is semi-illegal as while it can be illegal, mom and pop may want to do it to avoid exchange rates between countries. Crytocurrencies are falling like flies:( is the beginning of the end? Have a look at bitcoin/litecoin/etc price charts going back 5 or more years. Huge price volatility is not unusual. People have been declaring bitcoin dead every year since 2011.

Too many competing currency? I think it's because the price has risen too fast and too high recently. People are taking profits.

As the price falls more people cash out for fear of losing out. Until about mid August you're likely to see more than a few nervous bitcoin holders as there's a small but real risk the network splits, and people may end up holding bitcoins on the losing blockchain split. Bit of a thread mine, but I truly hope the OP ignored all the smart asses in here who were telling him not to go for it. The number of people that ignored the fact that he was CLEARLY not talking graphics cards (he said 350TH/s) to get those numbers on GPUs would have meant thousands of cards. If he went ahead with his plan and bought 350TH/s worth of s9's and hasn't cashed out only a couple of coins to help fund the electricity, he would now have about 6 or 7 coins, in todays market worth about $120,000 – $140,000 AUD.

I found this thread today while crunching the numbers of s9's today and it made me very disappointed in the quality of WP content. I've been doing Eth mining on my GTX 1080 equipped gaming PC just for a laugh (and curiosity).

Tried Vertcoin with the one click miner but it seemed to be pushing the card harder/hotter than I was comfortable with, even tried to underclock the core clock which pushed the temp even higher. The 1080 is well known for being less effective at Eth than the 1070 and 1060, still waiting for a driver update that will turn this around, but looking for something else to mine that might be a bit easier/profitable on the 1080 at the moment.

Been tinkering with Vertcoin mining using my new GTX 1080. Even with power costing me $0.45/kWh it's looking like I can make some money, but this is based on the fact that I dropped the 1080 into a server that is already running 24/7, so I only need to account for the power the card uses as opposed to the power for the whole system. If I had to factor in the whole system, I dare say it would be tight enough to skip it. If vertcoin prices go up, maybe longer term I can make some money, but as someone said, could easily just buy and hold and save the effort. For me though, I was curious enough to give it a try.

Like I said in the other thread, I tried Vertcoin for about 30 minutes until I got worried about the strain it was putting on my 1080, even after switching to low intensity (didn't seem to make much of a difference). I was also unsure about the pool's I was using, I was the only miner on one, there was one on the other I was considering. I may try again, but seriously Eth is quite strong in comparison, and it's gains in the last few days have got me leaving the PC on overnight to mine some extra whilst I can before they bring out the change to PoS, whenever that'll be. It is still a hobby, but I am now considering actually spending some $ to buy some more directly.

The Christmas scare period is over and the whole industry/markets are still improving, so gains to be made. Yeah not sure what happened there with your Vertcoin mining. Something sounds odd, but then I only have my own experience to go. I am using Afterburner to limit temperature and power, else I think the miner would fully abuse the card for sure. So right now, running at a steady 63% power usage and 73C (my card is only a turbo card, so cooling not as good as some gaming cards).

I have the core clock at +100 and mem clock at -500. I bought the card because it was the cheapest 1080 and I needed a dual card width to fit in my server. As far as I know, unlike gaming cards with bigger coolers, it's not OC by default. I.e., just stock clocks, making it a bit slower than what other 1080 users might report. The throttled setup should be safe to leave running 24/7 which is my intention.

That gives me an even hash rate almost dead on 40 Mh/s. If the numbers work out the next couple of weeks I may consider dropping in a second 1080 to double the return, but it would be doubling my risk since it's already tight in terms of making a profit versus a loss, and I need to re-coup the $699 for the first 1080.:) What miner are you using for ETH? Have to share this recent 'win'. Was talking a few days ago about 1080 cards and which one to buy. For my existing server I needed a 2 slot width card with no chance of any clash with a second NIC I have installed, so I was thinking about the ASUS GTX 1080 8G Turbo. I found it at MSY for $699. Thought it was weird they (and another supplier also) had the same exact card, except 1070Ti version, for the exact same price.

Later, one guy I was chatting to sent me a link saying he found the card on an on-line store for $699; the cheapest he had seen. I was thinking to myself, not that cheap; first store I looked at was $699.

Anyway, bought the card a few days ago, and was looking at maybe getting a second, and noticed that the price is now listed as $769!:) So I guess $699 was cheap after all. Must have been a price listing screw up by MSY. Thanks MSY!:D. Anyone used Mining Pool Hub before? Requirements For BURST Mining. I'm trialing it with Awesome miner and returning OK results. Have some queries regarding the wallets though if anyone can help?

I assume you're referring to the Vertcoin one click miner pool? I think I read about it when I was testing the Vert OCM. Out of interest, what’s your mining setup to be able to mine 1.5 ETH/month? Want to get into mining as well (good excuse to buy new hardware). Just note he does say he has a 6 vid card miner. I'd say I'd pull over.1 a month 24/7 with my 1080. If he has something a bit more efficient in it, then yeah, 1.5 would be about right (could even solo with that kinda of power).

That being said, current value of eth, that's almost $2k a month. Decent ROI on the miner. Well, if you had six 1080TI cards you'd be doing more like $2700 AUD per month, at current value. (A 1080Ti does around 31.7MH/s.) [Update: That speed quoted is with card down-clocked to 62% Power Target, unlinked 65C Temp' Target, memory under-clocked to 10,010, fans at 60%. The hashrate as quoted by pool site can be as high as 43 – 47MH/s.

The latest 0.13.0rc4 Ethminer is the best version I've tried so far, of their last 4 or 5 releases. It leaves a good enough margin to not bog your machine down *totally* while running.].

So Ive read enough to ascertain that there is no point trying to mine BTC, but I'd like to ask a couple of quick questions. Current PC rig – Core i7, 16 gig Ram, Nvidia GTX1070 If I was looking at something else to do a bit of mining on it is feasable to just mine for 8-10 hours a day when there is lots of sunlight and all my excess solar power is going back into the grid at negligible income to me ( with reduced FiT ).

I recall with Folding at home or Seti, if the process was intertupted you would lose what you had already done and it would download a new 'seed' and start again. Presumably I would want to be mining something that I can get a complete unit of fairly quickly even though its current price was pretty small?

Current PC rig – Core i7, 16 gig Ram, Nvidia GTX1070 Definately mine Ethereum with a GTX 1070. With pool mining, typically each 'seed' of work only takes maximum 30 seconds to process, so any halting doesn't affect work packets that much.

With regards to payouts, the pool I'm in do a fair distribution, based solely on work performed by each miner and distributes the gains by the whole pool accordingly. It will also pay out 0.05 Eth amounts, or once a week if your mined amount is up to 0.01 (you'd be reaching this easy with 8 hours a day).

Current $ price of Eth would be $15 AUD for 0.01 eth. Let me know if you need any help starting it up.

Let me know if you need any help starting it up. Yes please can be via PM or on here. Presume there are lots of different mining pools around. ALready got a Ledger Nano which I'm storing my ETH from my mining contract OK had a bit of a play around this morning and have ethminer running.

Showing about 24MH/sec on my PC within the command prompt running batch file but only showing 11Mh/sec on etherminer site ( up to 20 now ) Question 1: Whats current best app to monitor GPU temps etc for Nvidia cards. ( Installed GPU Z and showing 55 degrees for GPU temp ) Question 2: how do I configure so that it will transfer when minimum payout reached ( 0.05 Ether ) – OK found this also. Putting my address into their main page and going to settings. Question 1: Whats current best app to monitor GPU temps etc for Nvidia cards.

( Installed GPU Z and showing 55 degrees for GPU temp ) Question 2: how do I configure so that it will transfer when minimum payout reached ( 0.05 Ether ) – OK found this also. Putting my address into their main page and going to settings Good work mate. Question 1 – I use MSI Afterburner. You don't need an MSI card either, so works with anything. Great for monitoring and OC'ing.

As an FYI, I downclock the GPU core clock -150 and max out the clock on the ram (+1000), boosts my output from 20MH/s to 25MH/s. If you want to go the OC route, make sure you do it in small steps (mem OC'ing in steps of 100 or 200) and watch your temps/fan speed, and do this while doing the mining to see the results. Also make sure your GPU drivers are updated, of course. If you're Cuda mining and not OpenCL, there is also a few options you can play around with to see if they provide any benefit.

The Eth pool site will update to average after 24 hours, or current after 2 hours. There is also a parameter you can put into your.bat file for Ethminer to send your actual hash rate to the site, doesn't make a difference to your payout though. It will also pay out 0.05 Eth amounts, or once a week if your mined amount is up to 0.01 (you'd be reaching this easy with 8 hours a day). So I've been running for 4 hrs now with an average hash rate of 21Mh/s ( 14% stale the last hour ). Unpaid balance shows as 0.0007 rounded up, so it doesn't look like I'll be getting anywhere near 0.01 in 8 hrs. That said though I havent used any power that Im paying for as its all coming out of what I would be putting back into grid and getting 8c/kw for. Nvidia drivers arent the latest 388.xx so might do an update of them later.

I've been following the crypto thread religiously for the last month or two and have accumlated a good position in BTC and alts, but I am interested in finding out more about mining considering my current position. I live in Canada at the moment, the temperture here is below zero most days, and got to -30 last week. The cost of my electricity is 6c per kwh! These two factors make me feel like I could be in a good position for profitable mining. Having said that, I only have a laptop at the moment, no desktop here. I'm also likely to move back to Australia in May, which gives me all of 4 or 5 months to mine (I have plenty of friends here I could pass the hardware on to). How feasible do you think it would be to purchase a complete machine (I can build it myself), and run it here 24/7 for 4 or 5 months.

At the current rate Etherium is rising, and with the ability to push it off into alts which could explode, I'd like to take a chance. I'm interested in your thoughts. I also don't understand what software or accounts are required to join an etherium mining pool as you have been discussing. Thanks for reading! Thanks for the replies guys!

I did a few hours research last night, and it seems RX 570 or RX 580 cards might be easiest for me to get my hands on, though they're still around $500 each. I was thinking of starting out purchasing say 2x RX 580 8G cards and just running a small rig. The motherboard I looked at briefly had 4 x PCIe slots, so I assume I could purcahse 2 more of the same card in the future and add them in if need be? Could I get away with running 1 good power supply with 2x RX 580 8G cards? What CPU offers best value?

Sorry for the basic questions. I'll be able to get answers to these with some research later, but if you already know and can point me in the right direction it saves me a lot of time:) Any recommended basic hardware specs for ATI cards? Could I get away with running 1 good power supply with 2x RX 580 8G cards? Once you got your parts picked, use this to find out minimum power supply requirement. What CPU offers best value? You don't need anything to high of the line, CPU is barely used solely for mining.

Depends what else the PC may be used for afterwards (thinking resell value). I'd just got with a mid line i5. The motherboard I looked at briefly had 4 x PCIe slots, so I assume I could purcahse 2 more of the same card in the future and add them in if need be? I also don't think Crossfire/SLI needs to be enabled for a multi-card miner (might need to google this though to make sure). If you do, then will need to be a factor in your card/mobo requirements. Any recommended basic hardware specs for ATI cards? Good comparison of GPU's vs Hash Rate in Eth mining.

Use this as a guide (might have to do a spread sheet working out the ratio of Hash/GPU cost to ensure you're getting the best value. Again though, your plan you also need to consider resale value. Also make sure you get a card with a minimum 4gig ram, 3 gig currently works for Eth but the file size of the DAG is getting up there, one of the reasons I can't use my laptop with a GTX 950M to mine Eth (only has 2 gig dedicated). Amazing response!

Thanks for your help Frostyvegi! A big:D for you! The MSI power calculator is really useful, though weirdly it doesn't have the 570/580 as an option, only 470/480.

It seems like I'd need to cover around 350 watts for 2x480. 4x480 comes out to around 680 watts. So if I start with a 750watt plus system I may be future proofed for 4 cards in the future. Realistically though I may as well look at 1000 watt supply. I believe the 580 is more power hungry than the 480 anyway. I gather gold or platinum are the way to go. Does purchasing an overkill power supply mean it will be less efficient at the lower end of its specturm, or will it have the same efficiency but with a higher upper limit?

CPU: A celeron 3900 seems to be a popular choice. You mentioned a minimum of 4G ram per card. 8G seems to cost very little more. Should I opt for the 8G versions to be more future proof? Thanks agian for all your help, you're a legend! 750watt 1000 watt supply.

Either or, again, if it's a case of $50 between the two, better to go over than be underdone, especially with PSU's. Gold or platinum Yes, Gold at a minimum, especially if there can be some OC'ing to improve your output.

Just guarantees stable supply. And from memory, higher supply guarantees better efficiency at lower levels. You could probably double check this in the PC building section of Whirlpool, my memory on this is a bit grey. Also, unless you are going to use it for much else, save money and don't buy Windows. Apparently there is better performance almost regardless of what hardware you go with when using Linux as your OS on a mining machine. Again, I don't have any experience with this, just going on what I've read in my own research, so might be a good thing to google.

You mentioned a minimum of 4G ram per card With some of the more recent mid to high end cards 8G is the lowest option anyway, there are some low end cards that still are 3 or 4 gig, just throwing it out there with respect to Eth and Eth based currencies that they do require a bit of GPU ram to work. But yes, 8G is more future/resale proof than lower amounts. I would recommend a larger GPU ram, since its supposed to hit 4Gb soon. You just reminded me of something I should mention/warn about Eth mining, is that they are moving to a Proof of Stake method soon, which will, for most people, make Eth mining redundant. Fortunately there are still going to be lots of options out there. I will probably move to Vert mining when this happens, if I keep it up with my GTX1080.

Anyway, regarding the above, I think it'll go to PoS before it hits 4gig. Don't hold me to that though. Thanks again:) I've started putting together a rough list of parts to get a feel for cost. Any thoughts? You just reminded me of something I should mention/warn about Eth mining, is that they are moving to a Proof of Stake method soon, which will, for most people, make Eth mining redundant.

Yes, I've read about that. Thanks though! I think with my current power prices, if ETH stays stable I will pay the hardware cost back in 6 months or less. However I have a feeling ETH could 2-3x with a bit of luck over the next year and all will be gravy! Of course, I'd be happy to mine other profitable ALT coins. Worst case scenario I have a nice gaming/editing/VR rig with potential upgrades to CPU and RAM.

Motherboard: - ASUS PRIME Z270-P LGA 1151 Intel Z270 HDMI SATA 6Gb/s USB 3.0 ATX CPU: - Intel Pentium G4400 Skylake Dual-Core 3.3 GHz LGA 1151 54W BX Why do you go with this Intel G4400? They don't appear to be much cheaper than the i3 or i5. The 'cheap' processors are the G3xxx? The power draw for RX580 seems to be around 230-240W max.

Re: profitability, you need to take into account of the power draw and cost. I am not sure the ROI of 6 months are a bit too optimistic. You are probably looking at 500W x 24 hrs = 12KWHr per day for a 2 GPU setup. Why do you go with this Intel G4400? They don't appear to be much cheaper than the i3 or i5. The 'cheap' processors are the G3xxx?

The power draw for RX580 seems to be around 230-240W max. Re: profitability, you need to take into account of the power draw and cost.

I am not sure the ROI of 6 months are a bit too optimistic. You are probably looking at 500W x 24 hrs = 12KWHr per day for a 2 GPU setup. Thanks for the reply!

A few of your queries might be explained by the fact that I am in Canada at the moment. My power costs 6c per KWh.

Calculations from what to mine suggest a ~$10 profit per day for my 2x RX 570 rig which will cost me around $1,600. That's 160 days at today's rate of ETH. Of course a lot of factors will vary this daily profit amount, but it's the best I can go with at the moment. As for the CPU. With limited resources where I am at the moment the G4400 is a few cents more costly than the G3930 I was looking at, which is why I threw it in. Checking prices against staticice.com.au shows that I would be overpaying around 50% on the G3930 and 15% on the G4400 from my source. I'll do some more shopping around for better pricing.

Thanks for flagging it:). Riser: - Mining Card, Riser Card, PCIe (PCI Express) 16x to 1x Riser Adapter, USB 3.0 Extension Cable 60cm, 6 pin PCI-E to SATA. With the PCI slot risers, I’ve seen most on eBay are like what you listed, they have a PCIe16x board that needs a power connector of some sort (molex or sata power), and connects via a USB cable to a 1x riser. I’ve also seen ones where it’s just a ribbon cable but doesn’t have a board and doesn’t need a power connector, but has the same PCIe16x to PCIe1x connectors.

What’s the difference between them? Why choose the one that needs a source of power, as that’s another power draw from the PSU? Are you guys only mining off peaks hours to save on power costs (10PM -8AM? For me in SA I'm mining during day as we have no peak off peak times. Power from the grid is just 38-45c depending on your plan, but I have 5KW solar so if its sunny or mildy cloudy I produce more than I use so I use as much power as I can rather than selling it back at a measly 8c/kwh.

During the day I run washing machines, cook dinner, run pool pump etc etc. At night we are frugal as we pay for everything we consume at a VERY high tarrif. My PC is my normal everyday gaming general purpose PC so its running during the day usually anyway.

Dont want to mine at night cause thats when I am playing games and need my GPU!! I know you guys are talking about gpu mining. But from my quackulations.

That device appears to cost over $6,000 (USD?). That would require 6 months of 24/7 usage in order to start making a return on investment. I've witnessed one of these in use, and it's fricken loud. There is no where in my house that is of a reasonable temperature at all times in order to not be sounding like a jet taking off. -edit- Appears price on Amazon is not really correct, but yeah, still 3 months or so for a ROI, but main reason why not is what I've stated above.

I've noticed the same trend. I put it down to the changes in the mining difficulty that happens on the fly Wondering if its people in the Northern hemisphere going to bed and shutting down their rigs??

Thus making it easier for those who are still running to finish a work unit?? Link to your gallery? Been with Smugmug for many years now. Used to be a lot cheaper and I had a Pro account for many years but sales of photos didnt justify so I dropped to the lowest account that I can watermark on the fly with.

Problem is I have so many damn photo up there hard to move my gallery elsewhere now. My galleries need a good tidy up also.

PM me for any more info as it is off topic;-). Update: Ran for a full 12 hour block today. According to Etherminer.org I generated 0.0 0166 ETH which at an AUD price of around AUD$1750 currently is equal to $2.90. My Power meter tells me that my PC consumed 2.78Kw during that period so even if I was paying full rates in SA of 42c/Kwh makes the cost $1.16 in Power. The figures look even better given I wasnt paying for power and just missing out on the 8c/KwH feed in Tarrif ( 22c worth ) Guess that means that whilst ETH is the price it is it is actually worth running overnight.

Will see how it goes if I keep it running overnight. When I originally looked into this in October ETH was around the $320-350USD I recall and it didnt seem like a value proposition. Doesn't that make it tough to pay off the initial roi for the gpu alone? Yes it would if I bought it specifically for mining, but I didnt.

Bought it for gaming in August 2016 from Amazon for $424 USD. It paid for itself in quality gaming experience compared to the graphics card I used to play with, but given I dont game during the day I'll mine then.

Did try playing World of tanks when mining and it bogs down to 15fps – not suprisingly!! Eth mining stopping in a couple of months? Yes it is stopping sometime soon – no date specified yet, but I'm sure there will be something else that can be mined that is 'profitable'. If you do that, my understanding, in the eyes of ATO, it means you are no longer a 'hobby miner' which means, any income you derive from mining will be taxed. P.S the limit for 'hobby mining' is 10 000 AUD per annum, if you break that limit, you are no longer considered a hobby miner which means your income from mining will be taxed appropriately. I've been reading about this.

Happy to be corrected if I am wrong. I guess if you want to stay as a hobby miner, then you wouldn’t be able to claim deprecation on your mining rig too. (Not tax advice, just my understanding). Hi guys, i was planning to build an itx for my work (mining irrelevant) with a 1050 ti. In the last a few days, I started to grow interest in mining. I think i probably need to (have to) buy a better gpu. I read about vega 64 (just ignore its price for now) is very good, but based on what i saw on nicehash, it seems even an gtx 1070 could be more 'profitable' than a vega 64 (elec cost considered).

Any comments? What card should i buy? (only plan to grab one card to complete my build. Not into building a mining rig). Any comments? What card should i buy?

(only plan to grab one card to complete my build. Not into building a mining rig).

Check out, select a GPU and it will show the average values of the hashrate and power consumption of the algorithms out there that your selected card can do. Punch in the electricity rate you are on, and it will show you a list of cryptocurrencies from most profitable to least profitable. Since you are buying the card for games first, mining second, it's probably just a curiosity on what you can mine while your PC is idle. Also note that mining pools have a minimum payout amount you have to accumulate first, so it may be weeks/months before you have accumulated enough for a payout in to your wallet. I'm back from snowboarding in the rockies! Took a few days off but was lucky to stumble across some very rare stock of rx580s today in Canada.

I've ordered all the rest of my hardware so I'll give a little update here and ask a few questions. It's virtually impossible to buy any decent cards where I am (waitlists of 50 people). I called at the right time when someone hadn't picked up their order of 4x MSI rx580 8G Armor OC cards. Rushed in to pick them up. A guy came in 2 minutes behind me looking for the same thing. I took some pity on him and only bought 3 so he could have the last and get his rig up and running. I hope I don't regret that!

Very happy to have a few decent cards regardless. Cost me $460 each tax inclusive. I've ordered the rest of the hardware from Newegg, which should arrive this week. I purchased the Asus Z270P motherboard, G4400 CPU, 8GB RAM, 120 SSD and 1000w PSU and PCI-E extenders. All in cost for a 3x rx580 8G setup is around $2260. With my electricity rate at 6c per kwh and at current ETH pricing I should be able to generate around $15.50 profit per day which means it will take around 145 days to pay itself off. Of course the same amount of hash power last year would have generated me over $200,000 per month or something stupid at today's rates, so here's hoping ETH continues to rise.

QUESTIONS Doing some research it seems there's really no benefit in working in Linux versus Windows. I think I'll stick with Windows as I am more familiar with it, it might make VPN and iphone compatibility a little easier, and it should make me a little more future proof if I choose to use other mining software. Does anyone have anything to say to change my mind? I'm looking at using MinerGate for my mining pool software. It seems useful that it can automatically switch to whichever coin is most profitable at the time. Has anyone used it, or do you have suggestions for other software? Is there ANY benefit in having more of the same cards in my rig, or can I stick any other rx580 8G cards in to fill out my system?

What if I stuck a 1080ti in there? Cards are really hard to come by here, so I might have to take what I can get. Does it matter which PCI-E slots I plug my cards into? Does it make a difference if I use the 16x slots or just the 1x slots? Do I need to have a card in the primary 16x slot in order to boot to a monitor? That's all my questions for now. Thanks for reading!

I'll update once I get more hardware in and build my rig. My galleries need a good tidy up also Very impressive work! You kind of expect when talking to random strangers online that their work will be average. But I'm genuinely impressed. Thanks for sharing! Doing some research it seems there's really no benefit in working in Linux versus Windows.

I think I'll stick with Windows as I am more familiar with it, it might make VPN and iphone compatibility a little easier, and it should make me a little more future proof if I choose to use other mining software. Does anyone have anything to say to change my mind? Just use Windows as there seems to be better hardware monitoring and GPU tweaking utilities for Windows (OverdriveNtool, HWinfo64). Besides, you can install Win10 Pro, and just don't activate it. It doesn't stop working, it just shows a watermark to activate Windows.

I'm looking at using MinerGate for my mining pool software. It seems useful that it can automatically switch to whichever coin is most profitable at the time.

Has anyone used it, or do you have suggestions for other software? There are reports that they screw you on the reported hash rate and therefore returns. I'd use other mining software such as Claymore's (which also does dual mining) that lets you change around mining pools. Get a wallet address from first and have the mining earnings sent to that, rather than having to muck around with Mist. Just use Windows Thanks for your input. That seems to be the general consensus! How can I get rid of the default 3 x 480 cards.

No matter what I do it keeps adding them back in For me, I just click the red box around 480 and it turns off. I don't think the numbers in there are 'active' unless the box is red. So just switch them all off except the ones you need. There are reports that they screw you on the reported hash rate and therefore returns. I'd use other mining software such as Claymore's (which also does dual mining) that lets you change around mining pools. Interesting info. Thanks for the heads up!

Claymore's seems popular, so I'll check that out first then. Can't wait to get the rest of my hardware in! This vulnerability can be mitigated by not exposing the management port (default 3333) Is this a firewall setting? Or is there some other way of protecting this port?

I've installed Claymore and set my rig running. Should I do something in particular to protect against the vulnerability? My 3x RX580 8G rig is up and running now.

Getting 28.7MH per card after bios modding. Adjusting memory clock speed seems to have no effect on my hash rate however and I can't work out why! My calculated hash rate is only sitting at 68MH where my reported has is 86.2MH. Have I just been unlucky with my successes lately? Is this a firewall setting?

Or is there some other way of protecting this port? I've installed Claymore and set my rig running. Should I do something in particular to protect against the vulnerability?

Depends on your setup, if your mining rig is behind a router and it’s not port forwarding to your mining rig then you are probably fine. If you don’t need to use the remote management interface then you can just turn it off via a command line switch “-mport 0”, or if you just want to remotely view the stats of the miner but not enable remote control, the set a negative value for the port number “-mport -3333”, which will make it read only via port 3333. Depends on your setup Great advice, thanks! At the moment I am using nanopool. It allows me to monitor my stats from their website.

I've also set it up to email me if one of my rigs goes down, and finally I have setup Splashtop to VPN into the rig allowing me to monitor and change anything. It's a good setup. I'm connected via ethernet cable to the cable modem/router, so I gather that's offering me some protection? Regardless, I'll disable the port with -mport 0 as you suggested. Thanks for your help! I added a second hand MSI RX570 4G Gaming card to my rig.

Paid $340 for it. A little disappointed it was hashing at 17MH stock. My RX580 8G Armor were hasing at 27MH stock which is a big difference! Modded the bios and it jumped to 18.5MH.

Finally worked out how to get OverdriveNTool to work overclocking my cards. It requires a lot of fiddling, a lot of restarting Claymore (as it doesn't show changes in memory clock speeds without a restart) and a lot of restarting the computer (as it decides occasionally to ignore any changes you make). I managed to get the 570 to 22MH stable, which is a bit disappointing. However I got 2 of my 580s to 32.5MH each and one sitting at 30MH.

System total is 117MH now. Surprised at the big difference between the 570 and 580. Am I just unlucky with my 570 and lucky with my 580s? I'll keep an eye out for some half decent second hand cards.

New cards are virtually impossible to find here. I added a second hand MSI RX570 4G Gaming card to my rig.

Paid $340 for it. A little disappointed it was hashing at 17MH stock. My RX580 8G Armor were hasing at 27MH stock which is a big difference! You paid 340 for 18Mh/s?!? My gtx 1060 3gb does 24.5.

I paid $340 for it early last year. They r still cheap.

Was a brand new card I am currently mining Expanse which is an Ethereum fork. Ethminer and the Eth proxy works well for this. Is this even profitable? Wont u loose a lot of money in fees when converting and sending?

Without going through the entire thread. I've been offered quotes for two different mining rigs. One running GTX 1070's and one running GTX 1080ti The cost of the 1080ti's is obviously quite a bit higher. But what would be the suggested 'go to' out of them.

From my rough calculations (very rough), the ROI time would be similar unless I've gotten the numbers wrong. If you where starting fresh, would you go with the 1070's and use any profit to upgrade later on or just pour the money (and the risk) into the 1080ti. For anyone interested, my setup and stats as follows (I found it a pain in the ass looking for trustworthy info on hashrates when setting up my rig, so paying it forward.

Rig is 4x Sapphire Rx580 Nitro+ 8gb. Mobo is a TB350-BTC, with an AMD A6 processor. Tbh, I was getting same stats with my old Asus gaming mobo.

Hashrate is stable 30-31mh/s per card, mining ETH with claymore miner drawing 600w at the wall (with custom BIOS timings on the cards). Dual mining SC with claymore resulted in same hashrate for ETH and simultaneous 2200-2500mh/s for SIAcoin. Dual mining pulls an extra 100watts from the wall (total 700w). Payout was basically 0.05ETH every 70hours, and about 500sia a month. Accounting for fluctuations in price, the rig makes me about 400usd per month after paying for electricity (Energy Australia 0.29c/kWh). I just started a blog for anyone looking at getting started with crypto – I'll be posting an article on building a rig some time in the next few weeks – Hope this helps someone out.

DM me questions. I'm curious how you guys got started. Did you buy the base you would need to cover electricity and then add more cards as you went. Or did you dive in and spend up big upfront It's the cards that make the money so it makes sense to spend the most you can on cards for 1 system. The cost of the cpu,mobo,ram,frame,psu are $600+ so that cost is essentially spread over all the cards in the system. The less output you have, the longer it takes to pay off that fixed cost let alone the cost of each card and make a single cent of profit.

My first rig I went for 6x 1070. Having said that I would recommend a 4 card system (1070ti or 1080ti) as it involves slightly less hassle – for example not having to buy extra PSU modular cables for all the 8 pin pci-e power connectors (PSUs don't come with enough), and 6 higher end cards will be pushing the limits of even 1000w PSUs.

On a hot day a 1000w psu is getting pretty inefficient and there is a LOT of heat in a small space. Just wondering how long you’ve had you rigs for and what your daily profit is. Just want to compare with my set up. A lot of people tell me it’s not profitable to mine in Australia due to high energy prices but the numbers seem to state otherwise Replied to message. But basically anyone who tells you it isn't profitable isn't doing it, or is just spouting information on direct mining bitcoin itself which no one except chinese farms actually does. Put simply – at Melbourne power prices, even with this week's crashed crypto prices, you are still getting 3x the coin that you are spending in electricity.

In better times, it's more like 5x. Payback periods aren't amazing right now, but as long as whatever you mine recovers a bit or just stays the same, payback will happen in well under a year. GPUs wouldn't be sold out around the whole world if there wasn't heaps of easy money in it. I've gotten a rough quote to have a rig built (4x 1080ti) for 7 grand (give or take a few dollars either side) Currently looking around to see how much it would cost to just buy the pieces and build it myself They'd be making $1-2k profit off you. That's months more of mining just to pay back the capital cost.

As mentioned getting the cards will be tough, not sure if the ebay 20% off sale is on still, but if it is and any cards exist for around $1100 after the discount code, that would be the ones to get. Add maybe $600-800 (maximum) for the rest of the system. You do the maths. A few thoughts now that I have my first 2 rigs running. In hindsight I would have bought a 13 GPU mining motherboard, not two seprate 6 GPU motherboards. My Asus B250H Gaming gave me a lot of trouble trying to get multiple cards running. The mining boards cost a little more, but you only have to buy 1 CPU, RAM, SSD etc.

So you save in upfront 'dead' costs' and can focus on buying cards which will pay themselves off. They also have multiple PSU plugs directly on the board, so you can buy several mid power PSUs and run them together which is cheaper, and also gives you more PCI-E cables too. I bought a Corsair HX-1000 and it's good, but the modular cables are so stiff and awkward. For the second rig I bought 2x Thermaltake Tough Power Grand 650W RGB. They look awesome, they're cost effective, they have plenty of PCI-E cables, and they're quite flexible. I had to buy a dual PSU adapter cable too.

Rx570/580 seem to be best bang for buck. I'm getting anywhere from 28-30Mh on 570s and 30-32.5Mh on 580s.

1070s come highly recommended, but here at least (in Canada) they just cost too much more. I did see some benchmarks that show AMD cards dropping off in performace as the EPOCH increases. So Nvidia cards seem a better long term investment in that sense.

But perhaps a firmware update could patch that for AMD when it becomes more relevant? 4G vs 8G is irrelevant at the moment for ETH mining and doesn't seem like it will be at issue for at least 2 years on current math.

So save the money and get 4G cards as the tech will be out of date by then anyway. Anyway, those are my random thoughts for now! It's hard to say with the price of ETH varying.

These rigs are set up in Canada where my girlfriend lives. Electricity is only 5.5c per Kwh, so I thought I better set something up before I return to Australia next week. When I install my last 3 cards I will be running at 350Mh.

The rigs costs just under $7,000 combined (inflated due to card prices) for 3xRX580 and 9xRX570. I imagine it's a 4-6 month proposition for ROI in the current situation. If ETH rises then I'll be laughing.

You can monitor all the stats of my rigs at the following link if you like. Running at 260Mh due to only having 9 cards out of 12 installed. Hopefully I'll pick up 3 more tonight. Down the bottom there are some calcualtors. Why do you have a.05 payout limit of ethereum? Is that per day, week, month? Why is there a limit at all.

I am in a mining pool. The way I see it, myself and other miners are working on the same problems to mine the same coin. We receive a portion of ETH based on how much work we put in to mine that coin. That way I don't have to mine away for a month or so hoping to strike it lucky on a coin. I get slow and steady payouts along the way.

The ETH accumulates in my pool account and I can move it to my wallet for spending when I like, but only in increments of 0.05 or more. Does anyone know if I am being charged any signifcant fee taking the lowest 0.05 transfer rather than letting it build up to a larger amount and doing less transfers overall? Is it a percentage or is there a per transfer fee with ETH too? The way I see it is 1 transaction from the pool pays to everyone at once. So they are basically absorbing the 1 fee in the amount they 'charge' everyone (the 0.85% above), as it's only a few dollars with for an ETH transaction in the first place, the actual cost per user is only going to be a few cents. Someone correct me if I'm wrong there. I'm not sure about that.

I havn't done enough ETH transactions myself to know if its possible to have 1 transaction include sending different ETH amounts to different addresses and thus pay a minimal fee. Nanopool.org appear to charge a 1% fee from the miner rewards – I'm with Ethermine.org and they also charge a 1% fee when cashing out to miners.

It appears they do instant payouts, so this suggests that as soon as you hit the set limit for payout you have set, they immediately send, in which case they wouldn't be doing bulk pay outs. I believe nanopool. Best Zcash ZEC Miner Software. org just stagger their payouts to numerous times a day, but individual transactions per miner. Also with Ethermine.org they allow you to set to be paid out when your balance his anywhere between 10 ETH and 0.05 ETH, but they also, regardless of what you have set, always send out any unpaid balances over 0.01 ETH every Sunday morning. First two Vegas from two different sites, $650 each.

Sapphire Vega 56 Nitro+ OC limited edition got here this week, $1036 delivered. $3000 for a 6 x rx470 8G plus enough parts to build Vega rig. Yeah a hobby for me too. I have a lot simpler setup; already had a server that I built back in 2013 that was already running 24/7, so I figured slap a couple 1080s into it and mine at the same time. Even better, the CPU isn't affected by mining, so nothing that the server was already doing suffers at all.:). Guys, only just looking at this now on behalf of myself and a few others and have no experience/knowledge in this area.

We have access to free electricity ( to a degree, enough to power several servers lets say), so taking that into account: • Is there a particular off the shelf rig or is custom white box the way to? Ignore price for the moment. • Knowing the above, is there a particular crypto/s that we would be best targetting? • Is there special software required and a particular go-to guide for this? • Do's & don'ts? Is there a particular off the shelf rig or is custom white box the way to?

Ignore price for the moment. Most people diy a rig.

It comes down to a trade off between having the maximum number of graphics cards (which will determine your hash rate and rate of return) vs how much you are willing to spend on hardware upfront and how much noise and heat you are willing to put up with Knowing the above, is there a particular crypto/s that we would be best targetting? Go for something that is ASIC proof ( not bitcoin, litecoin) Otherwise it depends on the particular price and mining difficulty at that time. The easiest to start with Ethereum – you can sell it on just about any exchange Is there special software required and a particular go-to guide for this? Mining software is generally written by geeks for geeks (text based, setting up config files, etc). Read some guides – get the hang of setting up wallets and mining pools in the config files The guide that the nanopool mining pool has is a good a place as any to start Do's & don'ts?

Getting graphics card drivers to play nice with mining can be difficult and takes some fiddling. Be careful about doing so on production hardware (ie hardware you use for making money from other purposes). There could be some real anger if you borked a production server or workstation from sticking on an experimental graphics driver for mining. Most people diy a rig.

Is there a particular site that you like that displays the ultimate setup? How much noise and heat you are willing to put up with Noise and heat isnt a problem either. The easiest to start with Ethereum – you can sell it on just about any exchange Ok, thanks. The guide that the nanopool mining pool has is a good a place as any to start That looks awesome, thanks. Be careful about doing so on production hardware (ie hardware you use for making money from other purposes). No, what we build or buy here will be dedicated. For the miners here that are using AMD Vega 56/64 cards, this Reddit thread is a great guide: I followed this guide to set up my rig, I did pretty much everything except the Soft Power Play Tables registry tweaks, so my two Vega 64 were hashing at 41.2 to 41.3 MH/s each for Ethereum using Claymore, not dual mining, using AMD Blockchain driver, and drawing approx 505W measured at the wall (using an Arlec watt meter from Bunnings), powered by a Corsair HX850i PSU.

CPU is an i7-8700K but it’s idle (yeah I know i was going to do CPU/GPU Monero mining). After running that for a few days and getting the 505W fairly consistently, I used the Excel spreadsheet in the reddit thread to generate the Soft Power Play Tables windows registry file, not changing the values already in the spreadsheet (except for GPU_P6/P7 and Mem_P3 which are values I got to work with my cards), ran the.reg, rebooted, and the new values were reflected in OverdriveNTool. That registry tweak took the power usage at the wall down to about 336W, with absolutely no loss of hash rate from both cards. Needless to say I was floored by the result, card temps are lower too.

Here’s my OverdriveNTool.ini profile setting for those that are interested, hope you all get great results from your Vega cards: [Profile_3] Name=Vega_LowPowe r GPU_P0=852;800 GPU_P1=991; 900 GPU_P2=1084;900 GPU_P3=1 138;900 GPU_P4=1150;900 GPU_ P5=1202;900 GPU_P6=902;800 G PU_P7=902;800 Mem_P0=167;800 Mem_P1=500;800 Mem_P2=800;9 00 Mem_P3=1025;800 Fan_Min=3 500 Fan_Max=4900 Fan_Target= 65 Fan_Acoustic=15 Power_Temp=70 Power_Target=-50. For the miners here that are using AMD Vega 56/64 cards Geez this post has made my sitting on the fence even harder. I was gearing up to build a 4 GPU rig running 1080ti's. But if the numbers you've posted are right, then 6 vega56 cards would produce almost double the profit daily for around the same outlay Finding stock is proving bloody hard though (I'm sure I'm not the first to say that) EDIT: Ok so I stuffed this up a bit as I undercosted the vega56 cards.

I'd be looking at 4x 1080ti vs 4x vega56 and the 'profit' comes out about the same. Only difference really being that a store nearby has stock of the 1080's and finding vega's is damn near impossible. This rig is in Canada. It's consuming around 2,200w @5.5c per Kwh. That's around $3 per day.

So around $60-$70 per ETH:D So 22 days at 2200W is 1161kWh. $190 AUD to buy that electricity from the retailer at 16.5c/kWh to generate an ETH worth currently $1480. I was wondering about the feasibility of running it from solar here in Victoria, where feed in tariff is apparently 11-12c per kWh. So if you have that amount of excess solar (2200W) it's only costing you 5c/kWh or $58 AUD per ETH.

But you can't do it 24 hours a day. Don't have a dedicated mining rig or anything – but do have a PC with 1070GTX and i7-7700k.

Anyone able to advise on a quick-guide to get me mining something? Heard good things about ETH or Ripple?

Wouldn't mind having a play around (nothing serious). Really appreciate any advice you guys can provide, as there just seems to be so much different information everywhere and more catered toward those who are a bit more savvy than I. Thanks guys and happy mining! Dryath Check out, select your GPU and it will tell you the typical hash rate and power usage for each of the cryptocurrency mining algorithms you should be able to achieve with that card. Then below it will list the cryptocurrencies you can mine, ordered from the most profitable to the least profitable. Noob here:) So, I bought a ROG 1070ti and built a lovely pc.

I tried to set up the stuff for mining. I am using Claymore on win 10. Registered an account with binance and wanted to use it as a wallet. The pool i am using is nanopool (they have a server in australia). It has been running for 2 hours at ~31mh/s.

However, I have nt seen anything going to my Binance account. Is it normal? I mean not even 0.1 ETH. What concerns me is I am not sure the wallet address is correct.

The address is actually my 'ETH Deposit Address'. I cant find any other specific 'wallet' address in my Binance account. BTW, the out of box hashrate was 26. I overclocked the mem and underclock the core (a tiny bit) and limit the power to currently 65%. Everything i have done is just to 'have a feel':).

Ethermine.org reports stale shares in the dashboard, while nanopool doesn't. Thanks for the link. It's interesting! I have never seen any stale shares so never gave it a thought.

Kind of enjoyed life a little more without knowing what was hiding beneath the surface. The way I see it, it is what it is. I doubt it makes much difference which pool you go with. My numbers are working out well for me when it comes to ETH in the wallet each day. Found this beast on-line. Anyone using one?

In hindsight I would have used one of these. But I was originally planning on dipping my toes in with a 2 GPU setup. Fast forward 2 weeks and I have a 3 rig 16 GPU monster!

I found setting up 6 cards on the Asus motherboards I used was a big pain! Lots of fiddling in BIOS. I also had to buy 3 CPUs, 3 RAM, 3 SSD etc. Abdul, you're mining vert coin? How do you find it compared with ETH in terms of profitability. Is there any pertinent reason I should change from ETH mining?

Try to download ethminer, which is a zip, but when I open it it just opens a command filer and starts running something? Rather than gives me any.exe I can install. You dont actually install it as such.

What I have is a folder in which there is ethminer and my start.bat file shortcut on my desktop which then runs the bat file which starts up the ethminer program with the correct attributes ( My mining pool specified and my wallet specified. Once running there will be a good old school DOS window ( black box ) that has all the text showing connections and hash rates etc. I haven't taken the time to crunch the numbers against something else, so I can't really say which is more profitable atm. I'm kind of hedging my bets that more coins (versus more $ value) at this point is good. Or at least that's my default position until I review my other choices. I've enjoyed reading your posts on the Advanced Discussion thread.

I like your analysis. Did you choose Vert just because it was there as an alternative, or are you a particular believer in that specific coin? If possible, could you outline a brief reason behind your choice of Vert rather than any other minable non ETH alternative?

I have a feeling (with no particular evidence behind it) that ETH is a good long term hold and could very well hit US$2,000+ within the year, so the ETH I am mining now will be quite valuable to me at some point. I also plan to find some decent ICOs and put some ETH into them along the way. It seems the safe bet, whereas someting like Vert has a greater upshot but more risk. Consdering I am almost $10,000 invested on the hardware side the safe bet is probably more appealing until I hit ROI (projecting 4-6 months). Have a safe trip back to Oz. I'm actually back now.

Back at work today. Monitoring my rigs using EthMonitoring app, and using Splashtop to VPN in for any adjustments. They've been running flawlessly since I left.

Several days uptime with zero issues. Quite pleased. All I can think about all day at work is how I can source more GPUs and set up more rigs remotely, ha!

I sent out some email enquiries last night and have a lead from a local computer store potentially prepared to place an order for me but with no solid lead time. Ps/ No chance your GF will sell your rig once you're gone?;) I'm pretty heavily invested into her;) So the rig would be the least of my worries. Though quite a kick in the nuts regardless! After her initial skepticism, and being dragged out from a 2 GPU rig to 16 GPU in 2 weeks, she's actually quite enthusiastic about it all now. She monitors temperatures with me and stays on top of it.

Anyone have a plan on what to do with the mining rigs if the cryptocurrency value drops to below profit levels? Continue mining, and pick up additional hardware to expand capacity if it becomes affordable.

It doesn't matter what the price of ETH is now, only the price when you sell. So if it dips down for a while now, but ramps up again at the end of the year, it's all good! I have a feeling ETH can hit US$2,000 by the end of the year.

That would make me happy. If it dips down in the meantime I am not too concerned. EDIT: To clarify, the ETH you mine now, may only be worth $1 profit per day, but might be worth $20 profit per day in the future.

You could even mine at a loss on current pricing but still make a fortune if/when it rises in value. You only have a limited capacity to mine, you are constrained by time.

The worst thing you could do is stop mining because of a dip in price. Maximise the value from your investment and mine at 100% regardless of current value if you believe the value will increase again.

Child support 101. The more you earn, the more you pay. Regardless of the actual cost of raising the kids (he's got several with her) Slightly off-topic now though:P Back on topic.

There's benefits like being able to claim back equipment cost (depreciated deductions), rent, electricity, internet etc etc. I'm sure you could do all that as a registered sole trader, but goes back to the original point above about his ex and not wanting direct access to any profits He's a bit of an ambitious but dodgy bastard haha. Are guys actually selling their mined coin to 'pay off' the rig or are you just taking it as a theroetical thing?

I haven't entirely decided on this. But I think I'll likely take out chunks every now and then when I feel the rate is at a sufficient level to warrant it in order to secure some return on my investment.

Long term I am looking to hold as much as I can as I do believe ETH can hit US$2k or maybe US$3k at some point in the coming years. But given an opportunity for some security I will probably take it. If ETH hits US$1.5K sometime in the next month or two I will likely take out what I can. If ETH hovers around the US$1k mark for the next few months I'll probably just hold. Interested to know anyone else's plans.?

Experimenting now with Phoenix Miner rather than Claymore's on one of my rigs. Initial trial is looking positive, with a 2-3Mh boost to my 4 GPU rig from 121 to 123/124. The Dev fee is also lower at 0.65% compared with Claymore's 1%. Claymore's has been 100% stable for me (aside from one random glitch that seemed to do with my VPN).

I've had to restart it for my own testing purposes a few times but I've had uptime of over 5 days on all 3 of my rigs with no problems. Claymore's doesn't report stale shares whereas Phoenix does, so I am curious to check that out. My only concern is whether or not Phoenix will give me the same rock solid uptime as Claymore's as I had seen some complaints about crashes when the Dev fee kicks in. If it continues well overnight I will convert all 3 of my rigs over. Phoenix doesn't do dual mining, but I don't bother with that anyway. I'll post an update again when I can.