help? Newbie to wanting to Mine Ethereum.

[artuc]

12 hours ago, tikker said:

The only time you get free transfer of crypto is if you use a coin that has no transaction costs (or a very low one for almost free transfers) or if the entity swallows transaction costs, like some pools used to do.

 

XLM and NANO* have very low consistent transfer fees and are quick, also widely supported so useful for exchange to exchange transfers. I use it with Nicehash as I can transfer small amounts more often and end up DCA and spreading the volatility out and can also buy when low and not stuck waiting to hit a minimum to get it out.

 

One advantage of low fees is that it is a no brainer to do a test transfer.

 

Something like ETH, gas fees vary massively so you ideally time your transaction for a low gas timeframe however for low value transactions the gas fee or exchange fee eat massively into your transfer and with high minimums can also make a test transaction not viable.

 

Be advised though there can be tax implications for swapping/trading crypto vs holding the same one long term.

 

*XRP also however it is more volatile due to potential SEC trial news so I don't use it.

[_Grid21]

Well I have a few other questions.

1. If I stop my miner to say, play games, or restart my PC, do I lose progress on anything? Or just start it back up?

2. Ethermine seemed like it found more "shares" then 2miners, do I use them instead?

3. 2miners says "4" above the Blocks icon, But also keeps disconnecting from my miner and says I found zero blocks? I've had some unstableness connection with 2miners even though my internet is good. What is going on here?

[tikker]

6 hours ago, _Grid21 said:

1. If I stop my miner to say, play games, or restart my PC, do I lose progress on anything? Or just start it back up?

You can stop and restart it. Both ethermine and 2miners use PPLNS (Pay per Last N Shares) though, so the longer you go without gaps the more consistent your earnings are.

6 hours ago, _Grid21 said:

2. Ethermine seemed like it found more "shares" then 2miners, do I use them instead?

It varies with difficulty, how stable your connection to the pool is, how long it takes you to find and send the result back, that kind of stuff.

6 hours ago, _Grid21 said:

3. 2miners says "4" above the Blocks icon, But also keeps disconnecting from my miner and says I found zero blocks?

Blocks icon? The little cube you mean? That's just statistics about blocks that are found. It's fine for "Blocks found" to be 0, because you are highly unlikely to find a block yourself. With pool mining you split the work for a single block between many many workers and get paid by the amount of work you contributed.

6 hours ago, _Grid21 said:

I've had some unstableness connection with 2miners even though my internet is good. What is going on here?

Do you have the right 2miners pool for where you are? They have multiple addresses, you can try them and see if another one works better.

 

10 hours ago, artuc said:

XLM and NANO* have very low consistent transfer fees and are quick, also widely supported so useful for exchange to exchange transfers. I use it with Nicehash as I can transfer small amounts more often and end up DCA and spreading the volatility out and can also buy when low and not stuck waiting to hit a minimum to get it out.

Yeah XLM is great. It's not always viable though if the other end doesn't support swapping or can only swap for high fees. Buy low, sell high is moot and hardly works short term. If it's simply transferring then just buy, transfer, and convert back. Given how stable e.g. XLM is w.r.t. other cryptos you may lose a couple cents, but so be it.

10 hours ago, artuc said:

Something like ETH, gas fees vary massively so you ideally time your transaction for a low gas timeframe however for low value transactions the gas fee or exchange fee eat massively into your transfer and with high minimums can also make a test transaction not viable.

You don't actively have to "time" your transaction. You can just enter the amount you are willing to pay. If that's too low compared to the average then yeah it won't go through anytime soon, but you don't have to watch your transactions. For ETH it's simply best to save up a significant amount before transferring out of an exchange for example. It's perfectly fine to keep funds there and the safety concerns are a bit overexaggerated.

[artuc]

1 hour ago, tikker said:

You don't actively have to "time" your transaction. You can just enter the amount you are willing to pay. If that's too low compared to the average then yeah it won't go through anytime soon, but you don't have to watch your transactions. For ETH it's simply best to save up a significant amount before transferring out of an exchange for example. It's perfectly fine to keep funds there and the safety concerns are a bit overexaggerated.

You're right I suppose I should clarify if you're not holding the eth but transferring through to swap/trade, it can be risky waiting on it if you're not just holding it. 

 

Can also run the risk if you're tight that it gets stuck and you need to add more gas.

 

2 hours ago, tikker said:

Yeah XLM is great. It's not always viable though if the other end doesn't support swapping or can only swap for high fees. Buy low, sell high is moot and hardly works short term. If it's simply transferring then just buy, transfer, and convert back. Given how stable e.g. XLM is w.r.t. other cryptos you may lose a couple cents, but so be it.

 

Definitely, tend to use it to move either to the same or different coin across exchanges and it's usually quicker and cheaper especially where I may be shifting small quantities.

 

Long term holding for me but found converting to XLM and getting it out more often for what I want has worked best for me, with things like PoS coins you can be constantly topping up already compounding rewards.

 

I don't really try to time anything but overall have done better with that than accumulating higher quantities of BTC/ETH that have been more expensive and painful to transfer, just in my experience.

 

[tikker]

1 hour ago, artuc said:

I don't really try to time anything but overall have done better with that than accumulating higher quantities of BTC/ETH that have been more expensive and painful to transfer, just in my experience.

Oh yeah in regards to transfer costs BTC and ETH aren't the best. I do the same when moving between exchanges or the like: sell for XLM on exchange 1, transfer to exchange 2, sell for ETH on exchange 2.

[_Grid21]

12 hours ago, artuc said:

You're right I suppose I should clarify if you're not holding the eth but transferring through to swap/trade, it can be risky waiting on it if you're not just holding it. 

 

Can also run the risk if you're tight that it gets stuck and you need to add more gas.

 

 

Definitely, tend to use it to move either to the same or different coin across exchanges and it's usually quicker and cheaper especially where I may be shifting small quantities.

 

Long term holding for me but found converting to XLM and getting it out more often for what I want has worked best for me, with things like PoS coins you can be constantly topping up already compounding rewards.

 

I don't really try to time anything but overall have done better with that than accumulating higher quantities of BTC/ETH that have been more expensive and painful to transfer, just in my experience.

 

 

11 hours ago, tikker said:

Oh yeah in regards to transfer costs BTC and ETH aren't the best. I do the same when moving between exchanges or the like: sell for XLM on exchange 1, transfer to exchange 2, sell for ETH on exchange 2.

One of my friends said that dodgeCoin was worth more, but T-Rex Miner doesn't have a batch file for that nor does Exodus wallet even support it. Also my Max MH/s is 22.75. OC-ing doesn't seem to affect it much, but is there a way for my GPU to find more Blocks and gain more ETH faster? I kinda hate the idea knowing my GPU is pinned at 100% and sorta fear it's longer term use since I game on it and video edit some times. I wish I had held out for a higher 30 series card but at the time, I wasn't interested in mining at all. 

[artuc]

5 hours ago, _Grid21 said:

OC-ing doesn't seem to affect it much, but is there a way for my GPU to find more Blocks and gain more ETH faster?

No, you might be able to squeeze a bit more out of your card, but card upgrade or multiple cards is the only real way to get a significant increase in hashrate.

 

Also generally for profitability you also look at power and to a lesser extent thermals.

 

Hypothetically if you get 0.5 MH/s hashrate more OCing but the card uses twice the power it is half as efficient and your electricity costs are eating more into your profits.  As for running hotter you run the risk of overheating your system, reducing service life of parts and so on also potentially needing to run house A/C in summer to offset the extra heat.

[tikker]

13 hours ago, _Grid21 said:

One of my friends said that dodgeCoin was worth more

Hell no. No no no no no. Did I say no already? Dogecoin is literally a memecoin (the Doge in the name should give it away already). You can argue about the use and value of cryptos, but Shiba, Doge and its likes solely exist for the meme. Those are a literal gamble. They can go up if the internet is hyped enough, but nothing more. Stay away from them unless you know what you're getting into and are ok with losing everything you put in (which also goes for crypto, but infinitely more for the memecoins).

13 hours ago, _Grid21 said:

Also my Max MH/s is 22.75. OC-ing doesn't seem to affect it much, but is there a way for my GPU to find more Blocks and gain more ETH faster?

Sounds about right for an LHR 3060 I believe. Ethereum is memory heavy, so what you want to try is to lower the core clock, raise the memory clock and lower the power target. This will both reduce power consumption (increasing net profit), reduce temperatures (simply good for the components) and increase the hashrate (== more ETH).

13 hours ago, _Grid21 said:

I kinda hate the idea knowing my GPU is pinned at 100% and sorta fear it's longer term use since I game on it and video edit some times. I wish I had held out for a higher 30 series card but at the time, I wasn't interested in mining at all. 

100% load isn't anything bad. It's the temperatures you need to keep an eye on, especially the memory temperatures on the 3000 series.

[artuc]

My 1660S get's 29 and a bit MH/s on dagger-hashimoto.

 

You should get a bit higher I would've thought

[_Grid21]

10 hours ago, tikker said:

Hell no. No no no no no. Did I say no already? Dogecoin is literally a memecoin (the Doge in the name should give it away already). You can argue about the use and value of cryptos, but Shiba, Doge and its likes solely exist for the meme. Those are a literal gamble. They can go up if the internet is hyped enough, but nothing more. Stay away from them unless you know what you're getting into and are ok with losing everything you put in (which also goes for crypto, but infinitely more for the memecoins).

Sounds about right for an LHR 3060 I believe. Ethereum is memory heavy, so what you want to try is to lower the core clock, raise the memory clock and lower the power target. This will both reduce power consumption (increasing net profit), reduce temperatures (simply good for the components) and increase the hashrate (== more ETH).

100% load isn't anything bad. It's the temperatures you need to keep an eye on, especially the memory temperatures on the 3000 series.

I actually got my 3060 12GB before Nvidia sent out the newer LH model GPUs, so I assume what I am dealing with is the Nvidia Driver that's reducing it, so should I try rolling back to before the LH update came out and keep it at that version? 

 

EDIT: Also, in GPU-z, I don't see a memory temp read out at all. Unless the "hot spot" is the memory temp? 

[tikker]

32 minutes ago, _Grid21 said:

I actually got my 3060 12GB before Nvidia sent out the newer LH model GPUs, so I assume what I am dealing with is the Nvidia Driver that's reducing it, so should I try rolling back to before the LH update came out and keep it at that version? 

You can try rolling back, but non-LHR cards shouldn't be affected. It's not a retroactive change. It also depends on what else is running on the GPU. Quite a lot of things use hardware acceleration nowadays, even running the OS takes a bit out of your hashrate.

35 minutes ago, _Grid21 said:

EDIT: Also, in GPU-z, I don't see a memory temp read out at all. Unless the "hot spot" is the memory temp?

No that's on the die. I believe HWiNFO64 can read memory temps.