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Mining - should I try it out?

Noxz
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Hey!

So I'm getting quite bored and want to try something new, I've never ever mined before. The electricity costs $0.03 / kwH and it's included in the rent.

 

https://bitmaintech.com/productDetail.htm?pid=00020160527114935137wr0xd6U006A9

 

Including taxes and everything it will cost me around 475USD.  If you calculate with the profitability decline, and that the BTC will drop to 450 USD. It will take me around 190 days to earn back the money I invested. And I didnt really have in my mind to earn anything. Just a hobby. 

 

So the question is as following, is it worth a try? Or should I wait? The S9 that came on the market yesterday offers 14.0TH/s ±5% will probally make the mining alot harder and therefore an investment in the S7-LN wouldnt be the smartest thing? Or?

 

 

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Nope. Expenses would take a few years to get covered and actual profit would show up in a few more years.

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Posted
45 minutes ago, Noxz said:

Hey!

So I'm getting quite bored and want to try something new, I've never ever mined before. The electricity costs $0.03 / kwH and it's included in the rent.

 

https://bitmaintech.com/productDetail.htm?pid=00020160527114935137wr0xd6U006A9

 

Including taxes and everything it will cost me around 475USD.  If you calculate with the profitability decline, and that the BTC will drop to 450 USD. It will take me around 190 days to earn back the money I invested. And I didnt really have in my mind to earn anything. Just a hobby. 

 

So the question is as following, is it worth a try? Or should I wait? The S9 that came on the market yesterday offers 14.0TH/s ±5% will probally make the mining alot harder and therefore an investment in the S7-LN wouldnt be the smartest thing? Or?

 

 

Nope

Judge a product on its own merits AND the company that made it.

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52 minutes ago, Noxz said:

Including taxes and everything it will cost me around 475USD.  If you calculate with the profitability decline, and that the BTC will drop to 450 USD. It will take me around 190 days to earn back the money I invested. And I didnt really have in my mind to earn anything. Just a hobby. 

its not worth

even if you dont want to earn anything you'll have alot of costs  ( energy, hardware -> 24/7 miningwork isnt that good for the lifespan)

 

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58 minutes ago, Bl00dgod said:

its not worth

even if you dont want to earn anything you'll have alot of costs  ( energy, hardware -> 24/7 miningwork isnt that good for the lifespan)

But elecricity is included in the rent no matter how much I use. Hmmm

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17 hours ago, Noxz said:

But elecricity is included in the rent no matter how much I use. Hmmm

thats nice, where i live you have a bill depending on what you used

 

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3 hours ago, AstroBenny said:

Any advice to start mining Ethereum?

Have the right cards (Tahiti, Tonga/Antigua and Hawaii/Grenada ideally). Use Win7 x64 with Catalyst 15.7.1

 

From there find a pool you like the look of and figure out how to mine using ethminer (I suggest the genoil forked version). :)

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58 minutes ago, harrynowl said:

Have the right cards (Tahiti, Tonga/Antigua and Hawaii/Grenada ideally). Use Win7 x64 with Catalyst 15.7.1

 

From there find a pool you like the look of and figure out how to mine using ethminer (I suggest the genoil forked version). :)

What do you think of my "grand master plan" xD

 

I don't like 2D games...I just couldn't get into them.. ( ͡° ͜ʖ ͡°)

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2 minutes ago, AstroBenny said:

What do you think of my "grand master plan" xD

 

I think you should check first, because Catalyst 16.x drivers currently have very poor hashing performance compared to 15.x due to newer OpenCL libraries.

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1 hour ago, harrynowl said:

Have the right cards (Tahiti, Tonga/Antigua and Hawaii/Grenada ideally). Use Win7 x64 with Catalyst 15.7.1

 

From there find a pool you like the look of and figure out how to mine using ethminer (I suggest the genoil forked version). :)

So is ethminer a mining client? And the "genoil forked version" is a variant of the mining client?

What are the differences between these two pools/which would you recommend?

http://ethermine.org/

http://ethpool.org/

I've just been using the "all in one miner" from Minergate.com and it seems to work ok...

 

 

I don't like 2D games...I just couldn't get into them.. ( ͡° ͜ʖ ͡°)

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7 minutes ago, AstroBenny said:

So is ethminer a mining client? And the "genoil forked version" is a variant of the mining client?

What are the differences between these two pools/which would you recommend?

http://ethermine.org/

http://ethpool.org/

I've just been using the "all in one miner" from Minergate.com and it seems to work ok...

 

 

I'm with Weipool at the moment, mostly cause it's easy to set up. You should check payout conditions (sometimes you need x coin for payout), pool fees, what protocol (PPS, PPLNS etc).

 

Yeah, the genoil version took the code and made it a bit better (imo). What card(s) are you mining on?

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1 minute ago, harrynowl said:

I'm with Weipool at the moment, mostly cause it's easy to set up. You should check payout conditions (sometimes you need x coin for payout), pool fees, what protocol (PPS, PPLNS etc).

 

Yeah, the genoil version took the code and made it a bit better (imo). What card(s) are you mining on?

Well I'm not mining yet; I just tried it out for 10 mins on my 970 (5Mh/s) XD. Already Ebay-ed it earlier today and getting a second hand 390. When the RX480 drops I'll sell the 390 and hopefully grab myself four 480's assuming they're good for mining.

I don't like 2D games...I just couldn't get into them.. ( ͡° ͜ʖ ͡°)

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42 minutes ago, harrynowl said:

I'm with Weipool at the moment, mostly cause it's easy to set up. You should check payout conditions (sometimes you need x coin for payout), pool fees, what protocol (PPS, PPLNS etc).

 

Yeah, the genoil version took the code and made it a bit better (imo). What card(s) are you mining on?

Is geth also a mining client?

I don't like 2D games...I just couldn't get into them.. ( ͡° ͜ʖ ͡°)

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57 minutes ago, AstroBenny said:

Well I'm not mining yet; I just tried it out for 10 mins on my 970 (5Mh/s) XD. Already Ebay-ed it earlier today and getting a second hand 390. When the RX480 drops I'll sell the 390 and hopefully grab myself four 480's assuming they're good for mining.

Yes nvidia is poo. (For mining).

18 minutes ago, AstroBenny said:

Is geth also a mining client?

Yes. I prefer ethminer myself.

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