NiceHash

Discussion in 'Blockchain & Cryptocurrency Mining' started by Agg, Dec 7, 2017.

  1. OP
    OP
    Agg

    Agg Lord of the Pings

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    Yesss, in theory, because then it only has to outperform the 11c FIT we would otherwise get for the unused solar. But in the evening when I am using the PC anyway I tend to have NiceHash running on the GPUs. The additional power load isn't much, and with the high value of BTC at the moment it's easy to justify. :) I power it down overnight when I'm not using it. But compared to the load of the fishtanks, heated towel rails and the day-to-day power usage of a 4-person household having one PC mining away is pretty insignificant.
     
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  2. Jaco

    Jaco Member

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    Finally hit 0.5 BTC this afternoon thanks to Nicehash, the end goal was 1 BTC but we'll see how we go, I'd like to hold onto a chunk of Ethereum also before all of this new business starts happening with it

    Tough choice

    For those that would like specific details, it's taken about 6 months to get to this point (attachment)

    I started off with a single 5700XT and trying to justify spending that much on a card (and seeing what I could sell to afford it)

    I made my choice and shortly after it then grew to that plus 4x Blower Vega 56s that used a butt-load of power

    Mate of mine was selling off his 12x mixed-470/480/580 Rig at the time since they wouldn't let him use it at his workplace anymore, so I chucked that in too

    After seeing how much power those were using compared to the hashrate, I then traded these in for additional 5700XTs as the polaris cards moved quicksmart due to demand after about a fortnight / 3 weeks with them - the Vegas didn't stay much longer either but they went well

    After all of this started back up for me, coincidentally this is the time values of BTC and others started rising (I guess I picked the best period this year)

    It ended up being 1x 5700XT a week at that point, buying any used one I could get my hands on and having a bunch of mismatched rigs and nearly every single model of card that was on the market

    Pretty sure I ended up with nearly 30 of them before I started selling off what I couldn't match to what I already had, as OCD started kicking in and the rigs weren't much to look at

    Of course in doing that, I started buying what nvidia cards I could after hearing of Eth PoS etc etc, preparing just in case Core algos were the only option for mining

    Bunch of other things happened, slowly bought more and more - now am just cruising along and watching the values making the cards pay for themselves even quicker than planned :leet: it's been a fun run this time around

    Screenshot_20210106-003850_Chrome.jpg
     
    Last edited: Jan 6, 2021
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  3. RP_Automotive

    RP_Automotive Member

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    I'm on a similar journey to you Jaco. It's been pretty fun so far, and I started firing up my rigs yesterday. For those with multiple rigs, I can't recommend SimpleMiner enough. So easy to just flash the image to a USB, then all you have to do is enter you email address when each rig fires up and it'll link it all to your main dashboard. From the dashboard you can tweak overclock settings, point at different miners/coins and basically do whatever you want as you would if you were plugged in with a monitor, keyboard & mouse, but it also gives you all your stats in a nice single page. There's a little messing around to get your miner setup in the dashboard, but if you've already setup a single miner it's no harder than that.

    I have a bunch of 4GB cards which I intent to mine some alt coins with, but all of the 6GB+ cards will go to Etherum for now. I am thinking of getting a couple of ASIC's but need to do more research there.

    The big question for me is what the next big thing will be, there seems to be alot of info saying Etherum 2.0 will go live soon, but nobody seems to really know for certain what it means for the current miners. It like all the doom and gloom on the 4GB cards, sure it's coming, but for the time being they are still useful for ETH if you really want to do that. At the moment I'm not sure whether:

    - All GPU miners will be redundant in 12-24months
    - A certain type of GPU will be the way forward e.g. NVidia
    - Do I need to start buying ASIC's...
     
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  4. Jaco

    Jaco Member

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    Could be good to dip your toes into Ethereum classic, since just over a month ago they shifted the DAG back down to 2.5GB

    Ethereum is the only thing that's going to be affected, with the amount of network hashrate they will all have to go somewhere. This means that whatever they move to, difficulty on that will go up - and possibly whatever they're mining

    Yes, Nvidia for Core-based algos since they trump most AMD cards - it'd be a wise choice - that's why I'm about 50/50

    F--- no, unless you want expensive doorstops when the coin they're made for isn't profitable anymore because the difficulty is too high. GPUs = always resellable = can mine anything
     
  5. OP
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    Agg

    Agg Lord of the Pings

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    From everything I've seen about ASICs, you place an order, the manufacturer uses your ASIC to mine like buggery for a few weeks until it's no longer economical, then sends it to you, and then you run it for a while until it becomes pointless, and then you can't even sell it. Maybe back in the day when the rate of difficulty increase was very low they made sense, or if you are operating at such a scale it's worthwhile even on a small margin, or if your power is free.. but otherwise I just can't see it being worthwhile nowadays. But I haven't really looked into it in detail. Five years after I bought it, my GTX1060 6GB is still useful for mining or, heaven forbid, gaming. :)
     
  6. RP_Automotive

    RP_Automotive Member

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    Cheers, will see how I got with random Ming of an alt coin. A lot seems to like ADA but I’m not sure if that’s hype more than anything.

    Yeah I’m accumulating a few Nvidia 1060 & 1070’s to offset things a little bit.

    From anything I can see ASIC are restricted to the very serious guys who have massive farms, that way you know you can make your cash quickly and move if. But yeah the idea of doorstops is not a great one, and I do kinda care about the environment and seeing all those asic literally just thrown out isn’t great. I know there’s more wasteful things in this world but this practise seems a bit of a step I the wrong direction.

    I wonder why nobody has made a ASIC style mining GPU? I.E. Some crazy 12 core, 1TB memory Nvidia thing? With all the coin that gets sunk into GPU cards around the world surely someone has looked into it before?
     
  7. Jaco

    Jaco Member

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    Countries that have 0.05c (usually 0.02c) electrical generally

    There used to be a substantial farm of ASICS in the middle of nowhere near Toowoomba, QLD ran by a small group of people - but I'm not sure if it still exists anymore, you probably wouldn't be able to get such cheap electric here

    Look up FPGA Cards / "FPGA Mining" , programmable application-specific cards - RedPandaMining on YouTube has one that seems to go alright
     
  8. Skramit

    Skramit Member

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    nom nom nom! gogo 3080!

    the spikes are so juicy. but still hovering around $9/day

    upload_2021-1-20_15-17-47.png
     
  9. FuzwaldQO

    FuzwaldQO Member

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    Dammit.

    I really need to get my 3080 pumping the coins now.
     
  10. mesaoz

    mesaoz Member

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    *documents people not to buy GPU's from in 12 months*
     
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  11. mixsetup

    mixsetup Member

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    Bugger $9 a day with a 3080, I have a Strix 3090 OC just have to build my system this week to put it in.
     
  12. Myne_h

    Myne_h Member

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    ~$1800 / 9 = 200 days

    Payback by mid sept.

    Hmmm...
     
  13. Doobs

    Doobs Member

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    I'm already half way there for payback on my 3080, just wish I'd got a couple more
     
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  14. FuzwaldQO

    FuzwaldQO Member

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    Minus the power it costs to run it...
     
  15. mesaoz

    mesaoz Member

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    nicehash has a handy tool to help you account for power costs in your profitability.
     
  16. FuzwaldQO

    FuzwaldQO Member

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    I know, I was just pointing out that $1800 purchase price divided by the $9 a day payout equals 200 days payback... doesn't include power usage. So the the $9pd gets reduced and the 200d payback blows out :)
     
  17. Jaco

    Jaco Member

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    Still a good chunk of change nevertheless if you didn't account for it, one card on an average user's home power bill is nothing
     
  18. Myne_h

    Myne_h Member

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    300w card though.

    .3kwh x 24 x 30 = ~216kwh/m
    ~20c/kwh = ~$43/m

    Or... .3x24x200 = ~$288 for the 200days
     
  19. mesaoz

    mesaoz Member

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    3070 at 200w can make about $180aud/month if your power is free, and $140 if it isn't free (worst case, being charged for all power with no solar)

    $2 a day less on compute and 100w less power usage
     
  20. FuzwaldQO

    FuzwaldQO Member

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    How much difference is there between the potential of the 3070 vs the 3080?
     

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