Cryptocurrency world - Selling hashpower, mining, and making money

[DirectorGunner]

So I watched a recent Linus tech tips video that talked about crypto currency mining.

So I tried NiceHash last night for about 6 hours while sleeping

Not bad for only using some electricity.

So this is with three 980tis on two rigs.
I also didn't allow the CPUs to mine, just the cards.
One of the 980tis is an EVGA Hybrid which stays at a very cool 50c while mining.
The other two are gigabyte brand and get a bit over 70c, which I don't like so I have to find some AIO mods for them to keep them cool on load.
So far, my EVGA 980ti, running during the day.. is making about 10 cents an hour by itself.

This is fun :P

Just imagine.. if we all did this.. we'd each have ~$400 in 6 months time or less to spend on more ship jpgs!

Edit:
After looking into this alot.. after 1 year of stable hashing at a consistent rate... for year 2 selling GPUs for 50% and then upgrading GPUs... and repeating for year 3... year 3 becomes 100% profit after power cost. Albeit there's still risk of the coin you're mining tanking... if you keep your ear to the ground.. you may be able to mitigate some of that risk by staying informed/educated.

 

[Printimus]

So I watched a recent Linus tech tips video that talked about crypto currency mining.

So I tried NiceHash last night for about 6 hours while sleeping

Not bad for only using some electricity.

So this is with three 980tis on two rigs.
I also didn't allow the CPUs to mine, just the cards.
One of the 980tis is an EVGA Hybrid which stays at a very cool 50c while mining.
The other two are gigabyte brand and get a bit over 70c, which I don't like so I have to find some AIO mods for them to keep them cool on load.
So far, my EVGA 980ti, running during the day.. is making about 10 cents an hour by itself.

This is fun :P

Just imagine.. if we all did this.. we'd each have ~$400 in 6 months time or less to spend on more ship jpgs!

Are you taking into consideration how much money you earn vs how much money you spend on electricity? I tried this and it was in the red for me, so I stopped. lol

 

[marctek]

I was wondering about this the other day. I was looking in the direction of setting up a couple raspberry pie's to do the mining and see what happens.

 

[BUTUZ]

If your gonna do it use 1070/1080/1080ti or AMD R9 Nano / Fury / Fury X best hashes for the moneys and electricity's.

If you play your cards right you can buy a 1080ti for your gaming rig and it will pay for itself within 6-12 months!

 

[DirectorGunner]

Are you taking into consideration how much money you earn vs how much money you spend on electricity? I tried this and it was in the red for me, so I stopped. lol

Yes, I rounded up my cost per Kw and entered that into NiceHash when making my account.
It does all the math for you.
I'm in the black baby!

I was wondering about this the other day. I was looking in the direction of setting up a couple raspberry pie's to do the mining and see what happens.

Try it!

If your gonna do it use 1070/1080/1080ti or AMD R9 Nano / Fury / Fury X best hashes for the moneys and electricity's.

If you play your cards right you can buy a 1080ti for your gaming rig and it will pay for itself within 6-12 months!

Due to low cost of used 980tis from CL, this card is a really good option as it will pay for itself in less than 4 months on NiceHash, and likely quicker on ETH with a hybrid mining program. I already owned mine, so... perfectly fine to use them for this now. But yea I'd love an elite 1080ti from EVGA.. I'm able to buy one directly from EVGA even though they're sold out on Amazon. But I'd rather see if I can pay for one using my existing cards :P

 

[Printimus]

Yes, I rounded up my cost per Kw and entered that into NiceHash when making my account.
It does all the math for you.
I'm in the black baby!



Try it!



Due to low cost of used 980tis from CL, this card is a really good option as it will pay for itself in less than 4 months on NiceHash, and likely quicker on ETH with a hybrid mining program. I already owned mine, so... perfectly fine to use them for this now. But yea I'd love an elite 1080ti from EVGA.. I'm able to buy one directly from EVGA even though they're sold out on Amazon. But I'd rather see if I can pay for one using my existing cards :P

Nice! Congrats then! Maybe I should get a more efficient GPU.... lol

 

[Wolfy]

I ran this on one of my home servers. Honestly, the profit margin was so slim I went back to using it as an email forwarding service. Much, much more profitable for me.

 

[Sirus7264]

Lol i'm not sure if i want to wear my computer out trying to mine for crypto to much work can really shorten the lifetime of your cards. at 1.98 a day im not sure if it would be worth it thats like 1200 days to earn the price of my laptop again haha. I'm not sure if i am going to buy a new laptop or not either. I'll bet the company running the site is getting a much larger share of money for using your computer also which i'm not sure i would support that. Cool idea though. Do you have any idea how to buy altcoins? Ive been wanting to get into crypto for a while but keep putting it off because i dont know how to get into the market really. Cagecoin yesterday jumped up 1000% lol which i could have gotten a bite of that.

 

[Doyzer]

Just like during the Gold Rush, most miners didn't get rich, the people who sold the miners supplies made all the money.

 

[BUTUZ]

Due to low cost of used 980tis from CL, this card is a really good option as it will pay for itself in less than 4 months on NiceHash, and likely quicker on ETH with a hybrid mining program. I already owned mine, so... perfectly fine to use them for this now. But yea I'd love an elite 1080ti from EVGA.. I'm able to buy one directly from EVGA even though they're sold out on Amazon. But I'd rather see if I can pay for one using my existing cards :P

Yeh for me how efficient the card is most important rather than purchase price as high electricity costs in UK. EG my 1080ti gets 730hashes on equihash and uses 240 watts just for one card. I would sell your 3 x 980ti and get a single card, 1080 or 1080ti for maximum efficiency vs electricity cost.

 

[DirectorGunner]

It took this long to make $5.. lol

 

[Sirus7264]

It took this long to make $5.. lol

I think if you did the setup yourself you will probably make alot more than using someone's website I know a guy at work who use to do some mining i think he has like 7 bitcoins atm just laying around. I plan to get into the market here eventually thinking of starting smaller with altcoins but i have no idea what im doing yet just been researching the last 5 months(when i should have just dumped a bunch of money into bitcoin right?). I never just jump into things which is why i keep missing these gold rushes....(buying gold when i was very young which i thought about but didnt do because my father said its a waste of time.... , Buying Mcdonalds stock when it was 10 usd a share, buying coca cola stock when my economics teacher told me to do it back in high school before they bought everything in the world.)I'm not going to miss out on this hype for crypto this time

 

[Wolfy]

I think if you did the setup yourself you will probably make alot more than using someone's website I know a guy at work who use to do some mining i think he has like 7 bitcoins atm just laying around. I plan to get into the market here eventually thinking of starting smaller with altcoins but i have no idea what im doing yet just been researching the last 5 months(when i should have just dumped a bunch of money into bitcoin right?). I never just jump into things which is why i keep missing these gold rushes....(buying gold when i was very young which i thought about but didnt do because my father said its a waste of time.... , Buying Mcdonalds stock when it was 10 usd a share, buying coca cola stock when my economics teacher told me to do it back in high school before they bought everything in the world.)I'm not going to miss out on this hype for crypto this time

I got lucky and purchased several coins early in the rush. Sold some of them for a decent profit recently and still have a sizable amount.

 

[DirectorGunner]

I'm asking protocase to design me a 5U or 6U server case like this

x8 GPUs + ATX or EATX mobo w/ 1600 Titanium+ PSU.. oh and 240 CPU AIO Rad, and each GPU has a 120 RAD aio, EVGA Hybrid GPUs.. from my experience thus far, they can run and a cool 50c while mining as opposed to 75c with the directly air cooled solutions. I believe this has to do with the AIOs removing the heat away from the GPU and having a larger surface area farther away to dissipate the heat.
A rig with my 980tis and a couple more GPUs that are close, will pay itself off in about 6 month just from using nicehash.

So i'd love to learn about making more than I can with nicehash, so I can work my way up to 8 GPUs quicker.


If anyone wants to share the cost for protocase to design this, please let me know. They charge a quite a bit for the design process.. while fabrication is reasonable.

 

[DarthMatter]

I also saw Linus video and started looking into it.
Especially since I'm about to move into an apartment with internet and electricity at a fixed monthly cost. So all energy put into mining just gives me more energy for the same cost.
My GPU may be pretty low/middle-tier by now, but I don't expect to be really rich on this. Just to help ends meet for no additional/initial cost.
The only problem I have is that I'm completely new to this. And every website I look at recommends a different mining tool for every coin, making it hard for me to really compare anything.
Any tips on what I could/should use in terms of software and maybe what coin I should use it with?

 

[DirectorGunner]

I also saw Linus video and started looking into it.
Especially since I'm about to move into an apartment with internet and electricity at a fixed monthly cost. So all energy put into mining just gives me more energy for the same cost.
My GPU may be pretty low/middle-tier by now, but I don't expect to be really rich on this. Just to help ends meet for no additional/initial cost.
The only problem I have is that I'm completely new to this. And every website I look at recommends a different mining tool for every coin, making it hard for me to really compare anything.
Any tips on what I could/should use in terms of software and maybe what coin I should use it with?

the internet is shit now, don't believe most of what you find if it's on a blog or normal website. Ask in communities that have active miners. For right now, do Nicehash until you're ready to do some alt coin in a pool that makes sense. If you solo mine you are playing a gambling game because AFAIK someone else can solve before you and you don't get paid a commision for the mine you spent a bunch of time on. I think that's how it works. I'm still learning myself ofc lol.

 

[DarthMatter]

the internet is shit now, don't believe most of what you find if it's on a blog or normal website. Ask in communities that have active miners. For right now, do Nicehash until you're ready to do some alt coin in a pool that makes sense. If you solo mine you are playing a gambling game because AFAIK someone else can solve before you and you don't get paid a commision for the mine you spent a bunch of time on. I think that's how it works. I'm still learning myself ofc lol.

I've been looking through forums too, will note it specifically and not just say "websites" in the future :)
From what I saw (partly in the comment-section of Linus video), Nicehash takes a large portion of your income when compared to other services. Been trying to find out more on that part specifically since that can be used as a way to sort through good and bad stock-funds, but not finding much info...

 

[Michael]

Oh wow i could make 10 € per month :) (in a best case Szenario)

(or 30€ with a potential gtx 1080)
So i guess germany and its high energy cost is not the place to go

 

[DirectorGunner]

Oh wow i could make 10 € per month :slight_smile: (in a best case Szenario)

(or 30€ with a potential gtx 1080)
So i guess germany and its high energy cost is not the place to go

Solar power your rig, problem solved, though breakeven point would be longer.

 

[Michael]

Or i just solar power, take the solar power sponsering and then gtfo as fast as possible.