Is my setup decent for Mining Crypto?

[iiNNeX]

As per title, seeing as both of my computers are offline for most of the day I might as well put them to use in my spare time and let them mine some cryptos. Specs are in my signature, but to sum them up it would be like this:

 

Main rig: i7 8700k 5ghz + Strix 1080ti OC  - This machine can mine for around 14 hours a day, then I would have to stop it so I can use it.

Secondary: i5 4570 3.6ghz + EVGA 970 FTW+ 4GB OC - This can be mining 24/7 as I really don't use it much, all it has to do is run 2 other VMs for file storage and VPN and I think it can manage that fine.

 

Not sure what the electricity cost is exactly in my area but it's not expensive from what I've noticed, will double check numbers tonight.

 

 

[Nocte]

9 minutes ago, iiNNeX said:

Not sure what the electricity cost is exactly in my area but it's not expensive from what I've noticed, will double check numbers tonight.

Do check that because if it's not cheap you are just gonna lose money. 

Your setup is decent, but do not expect any big money. You may be able to earn a coffee a day...

[iiNNeX]

1 minute ago, Eibe said:

Do check that because if it's not cheap you are just gonna lose money. 

Your setup is decent, but do not expect any big money. You may be able to earn a coffee a day...

Yeah will do, and yeah that's fine I am not in it to win the big bucks, I am far too late for that unfortunately and also I do not posses 50x RX580s

 

A coffee a day is better than no coffee a day

[porina]

Sounds similar to part of my setup. I'm running a 1080 Ti in my main system, and it mines if I'm not using it. I've put mine on Ethereum and get 32MH/s at factory OC. I don't tune it for mining as I'm too lazy to switch over when gaming. I also had a 970 but don't run that currently. It seemed to be ok on zcash in the past. My electricity is 12p/unit from a national supplier. Do check and switch for better rates if applicable. At the time I worked it out that was profitable, and ethereum has gone up since then. I don't actually know what my profit is though, other than there is one, in that mining income is greater than total house electricity cost (including non-mining) by a fair margin. Debating part cashing out to cover existing running costs but that is something else to look into. Until then, the value I accumulated isn't directly accessible.

[dfsdfgfkjsefoiqzemnd]

If you're using the right algorithm you don't have to stop mining to use the PC.  You only really need to stop when you want to game.

I don't even notice the mining while browsing or doing office work, when watching HD videos there can be a slight bit of stuttering but IMO it's not enough to get really annoying. 

 

I run the Equihash algorithm on Nicehash on my own 1080Ti (MSI Gaming X), so if you prefer to mine directly be sure to look at Zcash first.  On other algorithms I did notice a severe general slowdown and higher temps.  To me that wasn't worth the potential $0.05 - $0.1 extra revenue per day.

[dfsdfgfkjsefoiqzemnd]

13 hours ago, porina said:

Debating part cashing out to cover existing running costs but that is something else to look into. Until then, the value I accumulated isn't directly accessible.

Oh that's easy enough.  Spendabit can help you find stores that accept Bitcoin (usually those use Bitpay as middle man) for a lot of things.  PC parts, bicycles, appliances, clothing etc.  Gold too, but I'm a bit weary of that.  If you can convert your Eth/Zcash to BTC, you can use BTC to buy stuff at those stores.  

If you use your crypto to buy stuff that you otherwise would have bought with fiat, it's the same as cashing out really. 

 

All the parts I bought this winter to upgrade my PC and laptop were paid that way, had absolutely zero issues once I figured out which wallet to use.  (For some reason I couldn't pay using my Trezor, I ended up making an Electrum wallet on my laptop)

[porina]

6 hours ago, Captain Chaos said:

usually those use Bitpay as middle man

I already have a computer parts store I use that takes via bitpay, but my current holding is mostly eth, and I'd need to convert it to one of the bitcoins first. So I'd need a good exchange.

[ItsBlck]

Yeah you should do fine if your electricity prices allow it

[Guest]

On 21/02/2018 at 3:05 PM, porina said:

I've put mine on Ethereum and get 32MH/s at factory OC.

I would suggest mining zcash , because that is where 1080ti shines. A rx580 or a 1070 gets the same hashrate as your 1080ti in ethereum, so your profit is smaller. On zcash you should get around 2x more profit per day.

[porina]

14 minutes ago, Some Random Member said:

I would suggest mining zcash , because that is where 1080ti shines. A rx580 or a 1070 gets the same hashrate as your 1080ti in ethereum, so your profit is smaller. On zcash you should get around 2x more profit per day.

My short term goal was to accumulate ethereum, not maximum income. I will consider this for future activity.

[Guest]

47 minutes ago, porina said:

My short term goal was to accumulate ethereum, not maximum income. I will consider this for future activity.

I mine ethereum too on a 1070, because i hope that it will become the new bitcion(bitcoin is built on ancient protocols on this point),

Ethereum is more likely for huge gains than zcash, but if you sell as you mine then you gain much more.